PCM can be bad but doesn't really happen much even on older ones.
If you want to pull it out and pop the top off you can usually see damage on the circuit board.
Blacken or discolored areas.
Picture and Pin Out diagram here:
http://www.auto-diagnostics.info/ford_eec_iv
Look at Pin 56, that's the input for PIP signal that comes from the EDIS module.
58 and 59 are the Grounds for the fuel injectors
CKP sensor--------EDIS-----(PIP signal)---------PCM---------fuel injectors
Without a PIP signal the computer doesn't even know you are cranking the engine, so wouldn't Ground the injectors.
There are also 3 Ground points for the PCM plus the case ground, none of these are shared inside the PCM, so if the injector "ground pin" was bad then PCM would be grounding the injectors but there is no ground to pass on.
Check Ground pins with ohm meter
If computer connector was off and you were to test pin 56 while cranking you should see a voltage change if not then wire is bad.
Pins 58 and 59 should show 12volts when key is on, just a pass thru from the 12volts at the injectors.