Project Management 3

20 Questions | Total Attempts: 53

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Project Management 3

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Questions and Answers
  • 1. 
    Which of the following projects is not the example of  "Someone else pays" type of business model? : 
    • A. 

      Gmail

    • B. 

      YouTube

    • C. 

      Dropbox

    • D. 

      Facebook

  • 2. 
    Risk thresholds are:
    • A. 

      Someone who is willing to take big risk

    • B. 

      The probability the risk will occur

    • C. 

      Areas of risk that are acceptable / unacceptable.

    • D. 

      The points at which a risk become unacceptable

  • 3. 
    How many critical passes has a project?
    • A. 

      Only 1

    • B. 

      As many as project manager decided

    • C. 

      5

    • D. 

      At least one

  • 4. 
    You are the project manager for a high visibility project. The margin on this project is low,and it is extremely important that the cost estimates for the work on the project be accurate. While reviewing the cost estimates for this project you notice that one of the cost estimates for an element in the WBS is 10% higher than two previous projects for very similar work. What should you do?
    • A. 

      Accept the estimate because you trust all of the people on your project team, and they are responsible for estimates

    • B. 

      Reduce the estimate and add the additional budget to the management reserve

    • C. 

      Ask the person responsible for the estimate to explain the difference and bring supporting information to you

    • D. 

      Reduce the estimate and add the additional budget to the contingency reserve

  • 5. 
    During a project, earned value analysis is performed, resulting in the following numbers:EV: 523,000; PV: 623,000; AC: 643,000.Which results are correct?SV - Schedule varianceCV - Cost variance 
    • A. 

      CV: +120,000; SV: +100,000

    • B. 

      CV: +100,000; SV: +120,000

    • C. 

      CV: -100,000; SV: -120,000

    • D. 

      CV: -120,000; SV: -100,000

  • 6. 
    You are managing a project that is in process. A large and unexpected problem occurs that will cause a delay in the schedule in excess of the contingency schedule for the project. What should you do?
    • A. 

      Look at other tasks in the schedule and see which ones should be reduced to allow time for this problem to be worked

    • B. 

      Reduce testing on the completed tasks

    • C. 

      Require mandatory overtime for the project team

    • D. 

      Speak to the stakeholders about getting additional time and budget for the project

  • 7. 
    When the quality management discipline is implemented, the benefits to costs ratio should at least be:
    • A. 

      Unable to be evaluated

    • B. 

      Less than one

    • C. 

      Of little importance

    • D. 

      Greater than one

  • 8. 
    What factors need to be known in order to be able to calculate the Estimation To Complete?
    • A. 

      Budget at completion, actual cost, and planned value

    • B. 

      Budget at completion, earned value, and actual cost

    • C. 

      Estimate at completion and planned value

    • D. 

      Estimate at completion and actual cost

  • 9. 
    You found the following earned value analysis information for a project that was recently closed-out:  SPI = 0.7, CPI = 1.0 
    • A. 

      The project has been cancelled while it was executed. At that time the project was behind schedule and on budget.

    • B. 

      The project's deliverables have all been finished. The project came in behind schedule but on budget

    • C. 

      The project's deliverables have all been finished. The project came in ahead of schedule but on budget.

    • D. 

      The project's deliverables have all been finished. The project came in on schedule but over budget.

  • 10. 
    What is project scope?
    • A. 

      The list of people you need to complete the project

    • B. 

      The list of features and functions of project you need to deliver as a result

    • C. 

      The same as project plan

    • D. 

      The diagram of tasks for project

  • 11. 
    If the probability of risk is 20% and potential impact is 5000$ loss, the EMV (expected monetary value) = :
    • A. 

      2500$

    • B. 

      - 1000$

    • C. 

      4

    • D. 

      25000$

  • 12. 
    Which of the following processes does not occur in  Scrum Poker?
    • A. 

      Project Manager explaines the business task to the team

    • B. 

      Team estimates the complexity of the task

    • C. 

      The performer of the task is appointed

    • D. 

      Discussion of the technical details of the task

  • 13. 
    In the Probability Impact Matrix, where should the unacceptable risks be situated?
    • A. 

      Upper right corner

    • B. 

      Upper left corner

    • C. 

      Bottom right corner

    • D. 

      Bottom left corner

  • 14. 
    A project manager is reviewing the work breakdown structure for her project. The WBS of the project represents:
    • A. 

      All the tangible items that must be delivered to the client

    • B. 

      All the work that must be completed for the project

    • C. 

      The work that must be performed by the project team

    • D. 

      All the activities of the project

  • 15. 
    A contingency plan is:
    • A. 

      A planned response that defines the steps to be taken if an identified risk event should occur.

    • B. 

      A workaround

    • C. 

      A reserve used to allow for future situations which may be planned for only in part.

    • D. 

      A and c

  • 16. 
    Under what circumstances is it better for a contractor to subcontract?
    • A. 

      The subcontractor possesses special technical and engineering skills that the contractor does not have.

    • B. 

      The work to be subcontracted represents almost all of the overall work effort.

    • C. 

      The subcontractor can perform the work at a lower cost than the contractor.

    • D. 

      A and c

  • 17. 
    You are a project manager working on a project to market a new product. The deliverables of the project have been established, and the project work has begun. A contract to deliver the deliverables has been signed. The customer who has signed the contract has telephoned you to request additional work to be done on the project. This work will affect the budget but not the schedule of the project. This project has a high priority with your company. What should you so next?
    • A. 

      Refuse the request and send a memo to your management explaining the situation

    • B. 

      Respond to the customer’s request by explaining the change procedure and asking that he or she submit a request for change

    • C. 

      Arrange to meet with the project team to discuss this change

    • D. 

      Performing a benefit-cost analysis to determine if we should proceed

  • 18. 
    Which of the following is not the type of customer relationships (business model)?
    • A. 

      Exclusive personal support

    • B. 

      Self-service

    • C. 

      Community

    • D. 

      Discount card

  • 19. 
    Latent Quality is:
    • A. 

      A measure of how well project does it vs. how well it’s supposed to do it

    • B. 

      Hidden quality of product and features

    • C. 

      A measure of how well it will continue to do it in the future

    • D. 

      The quality of the product, which is shown only in certain conditions

  • 20. 
    What are the major advantages of the functional type of organization?
    • A. 

      Single point of contact for the customer

    • B. 

      Stable organizational structure

    • C. 

      Project orientation

    • D. 

      Multifunctional teams are easy to form