U6/7-B5 Tools for Business Making Decisions

What is the primary purpose of a Gantt chart in project management?

• To visualize work in progress and aid in scheduling

• To evaluate the financial viability of a project

• To identify the longest sequence of dependent tasks

• To represent milestones and tasks using nodes and vectors

Which project management tool is particularly useful for illustrating task dependencies and sequences?

• Gantt chart

• PERT chart

• Net Present Value (NPV)

• Internal Rate of Return (IRR)

What does the Critical Path Method (CPM) focus on in project management?

• Identifying the longest sequence of dependent tasks

• Calculating the present value of cash flows

• Visualizing work in progress

• Representing milestones and tasks

Which financial analysis tool calculates the present value of cash flows generated by a project?

• Net Present Value (NPV)

• Internal Rate of Return (IRR)

• Discounted Cash Flow (DCF)

• Gantt chart

What is a key benefit of integrating project management tools like Gantt charts and PERT charts?

• Facilitating better communication with stakeholders

• Calculating the project's potential return

• Estimating the value of an investment

• Identifying the longest sequence of dependent tasks