A risk is defined as what might happened to the ____________ of the project 1. assessment 2. detriment 3. schedule 4. cost 5. scope

A risk is defined as what might happened to the ____________ of the project

1. assessment 

2. detriment 

3. schedule 

4. cost 

5. scope
by

1 Answer

Answer :

2. detriment
by

Related questions

Which of the following project baselines provides the basis for measurement of the expected cash flow against requirements over time and is often displayed as an S curve? Select one: a. Schedule baseline b. Cost performance baseline c. Scope baseline d. Plan baseline e. Initiation baseline

Description : Which of the following project baselines provides the basis for measurement of  the expected cash flow against requirements over time and is often displayed as an  S curve? Select one: a. Schedule baseline b. Cost performance baseline c. Scope baseline d. Plan baseline e. Initiation baseline

Last Answer : b. Cost performance baseline

The project manager works with the project sponsor to identify the necessary resources and team members needed to further develop the key project parameters – Cost, Scope, Schedule, and Quality (CSSQ). (True/False)

Description : The project manager works with the project sponsor to identify the necessary resources  and team members needed to further develop the key project parameters – Cost, Scope,  Schedule, and Quality (CSSQ). (True/False)

Last Answer : Ans. True

Scope, cost, and schedule are some of the parameters used for project negotiation. (True/False)

Description : Scope, cost, and schedule are some of the parameters used for project negotiation.  (True/False)

Last Answer : Ans. True

The most common reason for schedule and cost overruns that surface after the project is underway is scope creep.

Description : The most common reason for schedule and cost overruns that surface after the project  is underway is scope creep.

Last Answer : Ans: True

What is the definition of Earned Value Management? A. An approach that combines the scope, schedule, and cost baseline into a project performance and progress measurement tool. B. An approach that combines the schedule and cost baseline into a project performance and progress measurement tool. C. An approach that combines the scope and cost baseline into a project performance and progress measurement tool.

Description : What is the definition of Earned Value Management? A. An approach that combines the scope, schedule, and cost baseline into a project  performance and progress measurement tool.  B. ... approach that combines the scope and cost baseline into a project performance and  progress measurement tool.

Last Answer : A. An approach that combines the scope, schedule, and cost baseline into a project  performance and progress measurement tool.

Earned value management integrates scope, cost, and schedule measures to: A. assess project performance and progress. B. develop a preliminary budget. C. assess communication effectiveness among project team members. D. assess whether all requirements were met.

Description : Earned value management integrates scope, cost, and schedule measures to:  A. assess project performance and progress.  B. develop a preliminary budget. C. assess communication effectiveness among project team members. D. assess whether all requirements were met.

Last Answer : A. assess project performance and progress.

What are the key components in the "Triple constraint Triangle"? A. Scope, Schedule, Cost, Project Manager B. Scope, Time, Cost, Project (Ans.)C. Time, Money, Scope, Project D. Project Manager, Time, Scope, Money

Description : What are the key components in the "Triple constraint Triangle"?  A. Scope, Schedule, Cost, Project Manager B. Scope, Time, Cost, Project (Ans.) C. Time, Money, Scope, Project D. Project Manager, Time, Scope, Money

Last Answer : B. Scope, Time, Cost, Project (Ans.)

In the project management theory, balancing scope, schedule, and cost goals is often termed as (A) triangular dilemma (B) triple constraint (C) fundamental trade-off (D) project portfolio management

Description : In the project management theory, balancing scope, schedule, and cost goals is often termed as (A) triangular dilemma (B) triple constraint (C) fundamental trade-off (D) project portfolio management

Last Answer : (B) triple constraint

)The fixed price contract is advantageous to the buyer because it: 1. requires extremely well defined specifications 2. requires formal procedures for scope changes 3. contractor assumes financial and technical risk 4. has a known cost

Description : )The fixed price contract is advantageous to the buyer because it: 1. requires extremely well defined specifications  2. requires formal procedures for scope changes  3. contractor assumes financial and technical risk  4. has a known cost

Last Answer : 3. contractor assumes financial and technical risk

Estimates from the planning stage will need to be refined as the project progresses, because it is virtually impossible to develop an exact assessment of the project’s schedule before the analysis and design phases are conducted.

Description : Estimates from the planning stage will need to be refined as the project progresses,  because it is virtually impossible to develop an exact assessment of the project’s schedule  before the analysis and design phases are conducted.

Last Answer : Ans: True

. A project is typically defined in terms of scope, time, cost and which other parameter? a. Benefits. b. Quality. c. Tolerance. d. Controls.

Description : . A project is typically defined in terms of scope, time, cost and which other parameter? a. Benefits. b. Quality. c. Tolerance. d. Controls.

Last Answer : b. Quality.

A project is typically defined in terms of scope, time, b. Quality. c. Tolerance. d. Controls.cost and which other parameter? a. Benefits.

Description : A project is typically defined in terms of scope, time, cost and which other parameter?  a. Benefits. b. Quality.  c. Tolerance.  d. Controls.

Last Answer : b. Quality.

Which of the following is typically a written document that defines what work will be accomplished by the end of the project?Select one: a. Scope of work (SOW) b. Project logic diagram c. Milestone schedule d. Ballpark estimate e. Work breakdown structure

Description : Which of the following is typically a written document that defines what work  will be accomplished by the end of the project? Select one: a. Scope of work (SOW) b. Project logic diagram c. Milestone schedule d. Ballpark estimate e. Work breakdown structure

Last Answer : a. Scope of work (SOW)

A project budget estimate that is developed with the least amount of knowledge is known as which of the following?Select one: a. Rough order of magnitude (ROM) estimate b. Scope of work estimate c. Conceptual estimate d. Line estimate e. Milestone schedule estimate

Description :  A project budget estimate that is developed with the least amount of  knowledge is known as which of the following? Select one: a. Rough order of magnitude (ROM) estimate b. Scope of work estimate c. Conceptual estimate d. Line estimate e. Milestone schedule estimate

Last Answer : c. Conceptual estimate

A Project control system: 1. Monitors and controls the project's schedule, costs, scope, budgets etc 2. Is a mechanism which reacts to the current project status in order to endure accomplishment of project objectives 3. Is only needed on large mega projects 4. Is a system for controlling and executing project documentation in an uniform and timely manner

Description : A Project control system: 1. Monitors and controls the project's schedule, costs, scope, budgets etc  2. Is a mechanism which reacts to the current project status in order to endure ... 4. Is a system for controlling and executing project documentation in an uniform and timely  manner

Last Answer : 1. Monitors and controls the project's schedule, costs, scope, budgets etc

The Scope Baseline is: 1. the original description of the project's end results 2. a summary description of the project's original content and end product, including basic budgetary and time constraint data 3. the original project budget and schedule 4. a and c

Description : The Scope Baseline is: 1. the original description of the project's end results  2. a summary description of the project's original content and end product, including basic  budgetary and time constraint data 3. the original project budget and schedule  4. a and c

Last Answer : 2. a summary description of the project's original content and end product, including basic  budgetary and time constraint data

The Scope Statement should contain which of the following? 1. Project schedule 2. Project budget constraints 3. Summary of project tasks , deliverables and resources required 4. Project objectives

Description : The Scope Statement should contain which of the following? 1. Project schedule  2. Project budget constraints  3. Summary of project tasks , deliverables and resources required  4. Project objectives

Last Answer : 4. Project objectives

What are the signs that a project is in trouble? a. The product scope is poorly defined. b. Deadlines are unrealistic. c. Changes are managed poorly. d. All of the above.

Description : What are the signs that a project is in trouble? a. The product scope is poorly defined. b. Deadlines are unrealistic. c. Changes are managed poorly. d. All of the above.

Last Answer : d. All of the above.

The scope of the work is defined in which phase of the project management? (A) Initiating (B) Planning (C) Executing (D) Closing

Description :  The scope of the work is defined in which phase of the project management? (A) Initiating (B) Planning (C) Executing (D) Closing

Last Answer : (A) Initiating

What should be done by the project manager to ensure that all the work in the project is included? Select one: a. Create a contingency plan. b. Create a risk management plan. c. Create a WBS. d. Create a statement of work. e. Create a scope statement.

Description : What should be done by the project manager to ensure that all the work in the  project is included? Select one: a. Create a contingency plan. b. Create a risk management plan. c. Create a WBS. d. Create a statement of work. e. Create a scope statement.

Last Answer : c. Create a WBS.

Fill in the blank. Risk represents the likelihood that an event will happen during the life of the project that will negatively affect the ________________ of project goals. Select one: a. scope creep b. achievement c. float d. rough order of magnitude e. slack

Description : Fill in the blank. Risk represents the likelihood that an event will happen during  the life of the project that will negatively affect the ________________ of project goals. Select one: a. scope creep b. achievement c. float d. rough order of magnitude e. slack

Last Answer : b. achievement

Which risk is connected to the circumstance outside the project that may influence the scope of work and the performance of the organization? A.Operational Risk B.Financial Risk C.Strategic Risk D.Contextual Risk

Description : Which risk is connected to the circumstance outside the project that may influence the  scope of work and the performance of the organization?  A.Operational Risk  B.Financial Risk  C.Strategic Risk  D.Contextual Risk

Last Answer : D.Contextual Risk

Fill in the blanks. It is during the ______________ phase that the decision should be made regarding whether the project should continue. During this phase, ____________ must be considered and weighed against the potential benefit of the project’s success. Select one: a. completion, cost b. closeout, resources c. execution, performance d. planning, timing e. initiation, risk

Description : Fill in the blanks. It is during the ______________ phase that the decision should be  made regarding whether the project should continue. During this phase, ____________  must be considered and weighed ... . closeout, resources c. execution, performance d. planning, timing e. initiation, risk

Last Answer : e. initiation, risk

The Three attributes of project risk are _________, ___________ and ___________. 1. What might happen, who it happens to, and how much will it cost 2. Notification, frequency of5. Risk event, probability occurrence, the amount at stake relevant events, probability of occurrence 3. Risk cost, quality, control 4. Quality, risk planning, total number of risk events

Description : The Three attributes of project risk are _________, ___________ and ___________. 1. What might happen, who it happens to, and how much will it cost  2. Notification, frequency of relevant events, ... planning, total number of risk events 5. Risk event, probability occurrence, the amount at stake

Last Answer : 5. Risk event, probability occurrence, the amount at stake

Scope creep is only a minor factor in projects running over schedule, and every effort should be made to incorporate any changes into the present system if they would truly be beneficial.

Description : Scope creep is only a minor factor in projects running over schedule, and every effort  should be made to incorporate any changes into the present system if they would truly be  beneficial.

Last Answer : Ans: False

Risk in project management is defined as A.An uncertain event that, if it occurs, has a positive effect on project objectives B.An uncertain event that, if it occurs, has a negative effect on project objectives C.An uncertain event that, if it occurs, has a positive or negative effect on project objectives D.An uncertain event that do not have any effect on project objectives

Description : Risk in project management is defined as  A.An uncertain event that, if it occurs, has a positive effect on project objectives  B.An uncertain event that, if it occurs, has a negative ... effect on project  objectives  D.An uncertain event that do not have any effect on project objectives

Last Answer : C.An uncertain event that, if it occurs, has a positive or negative effect on project  objectives

Cost controls can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project 2. The process of assembling and predicting costs of a project over its life cycle 3. The process of assembling and predicting costs of a project over its life cycle 4. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis.

Description : Cost controls can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities,  uncertainties, and inflation that  could ... of gathering, accumulating, analyzing, reporting, and managing the costs on  an on-going basis.

Last Answer : 4. The process of gathering, accumulating, analyzing, reporting, and managing the costs on  an on-going basis.

Cost budgeting can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project 2. The process of assembling and predicting costs of a project over its life cycle 3. The process of establishing budgets, standards, and a monitoring system by which the investment cost of the project can be measured and managed 4. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on- going basis

Description : Cost budgeting can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities,  uncertainties, and inflation that  could ... of gathering, accumulating, analyzing, reporting, and managing the costs on an on- going basis

Last Answer : 3. The process of establishing budgets, standards, and a monitoring system by which the  investment cost of the project can be measured and managed

The main outcome of risk identification, in a risk management process, is to: a. identify and determine the relative importance of the project risks. b. identify and describe all risks that might occur on the project. c. identify and determine the responses to the project risks. d. identify and describe risks that have occurred on previous projects.

Description : The main outcome of risk identification, in a risk management process, is to: a. identify and determine the relative importance of the project risks. b. identify and describe all risks that ... responses to the project risks. d. identify and describe risks that have occurred on previous projects.

Last Answer : b. identify and describe all risks that might occur on the project.

The main outcome of risk identification, in a risk management process, is to: a. identify and determine the relative importance of the project risks. b. identify and describe all risks that might occur on the project. c. identify and determine the responses to the project risks. d. identify and describe risks that have occurred on previous projects.

Description : The main outcome of risk identification, in a risk management process, is to:  a. identify and determine the relative importance of the project risks.  b. identify and describe all risks that ... to the project risks.  d. identify and describe risks that have occurred on previous projects.

Last Answer : b. identify and describe all risks that might occur on the project.

Following is (are) the component(s) of risk management (A)Risk Assessment (B)Risk Control (C)Risk Ranking (D)All of the above

Description : Following is (are) the component(s) of risk management (A)Risk Assessment (B)Risk Control (C)Risk Ranking (D)All of the above

Last Answer : (D)All of the above

All of the following are true regarding the Qualitative Risk Analysis process except which one? A. Probability and impact and expert interview are used to help correct biases that occC. Qualitative Risk Analysis is an easy method of determining risk probability and impact that usually takes a good deal of time to perform. D. Risk urgency assessment is a tool and technique of this process used to determine which risks need near-term response plans.ur in the data you’ve gathered during this process. B. The probability and impact matrix is used during this process to assign red, yellow, and green conditions to risks.

Description : All of the following are true regarding the Qualitative Risk Analysis process except  which one?  A. Probability and impact and expert interview are used to help correct biases that occur  in the data ... of this process used to determine  which risks need near-term response plans.

Last Answer : C. Qualitative Risk Analysis is an easy method of determining risk probability and  impact that usually takes a good deal of time to perform.

Which one of the following statements is true?a. An increase in project scope is likely to increase project cost. b. A decrease in the project time is likely to increase project quality. c. An increase in the project quality requirements is likely to decrease project cost. d. A decrease in the project cost is likely to decrease project time.

Description : Which one of the following statements is true? a. An increase in project scope is likely to increase project cost. b. A decrease in the project time is likely to increase project quality. c. ... to decrease project cost. d. A decrease in the project cost is likely to decrease project time.

Last Answer : a. An increase in project scope is likely to increase project cost.

A(n) _ is a review of the quality plan, procedures, data collection, and analysis by an outside group. Select one: a. scope document b. project appraisal c. cost performance index d. analogous estimate e. quality audit

Description : A(n) _ is a review of the quality plan, procedures, data collection, and analysis by  an outside group. Select one: a. scope document b. project appraisal c. cost performance index d. analogous estimate e. quality audit

Last Answer : e. quality audit

Controlling the changes in the project may affect (A)The progress of the project (B)Stage cost (C)Project scope (D)All of the abov

Description : Controlling the changes in the project may affect (A)The progress of the project (B)Stage cost (C)Project scope (D)All of the abov

Last Answer : (D)All of the abov

Which one of the following statements is true? a. An increase in project scope is likely to increase project cost. b. A decrease in the project time is likely to increase project quality. c. An increase in the project quality requirements is likely to decrease project cost. d. A decrease in the project cost is likely to decrease project time.

Description : Which one of the following statements is true?  a. An increase in project scope is likely to increase project cost.  b. A decrease in the project time is likely to increase project quality.  c. ... to decrease project cost.  d. A decrease in the project cost is likely to decrease project time.

Last Answer : a. An increase in project scope is likely to increase project cost.

When developing a project's scope statement, which of the following should not be included? 1. Project justification. 2. Cost/benefit analysis 3. Project deliverables 4. Measurable objectives

Description : When developing a project's scope statement, which of the following should not be  included? 1. Project justification.  2. Cost/benefit analysis  3. Project deliverables  4. Measurable objectives

Last Answer : 1. Project justification.

Which from the following statement(s) is/are NOT true? I. Projects have defined objectives II. Programs have a larger scope than projects III. The projects and programs in a portfolio must be directly related (A) I only (B) II only (C) III only (D) II and III only

Description : Which from the following statement(s) is/are NOT true? I. Projects have defined objectives II. Programs have a larger scope than projects III. The projects and programs in a portfolio must be directly related (A) I only (B) II only (C) III only (D) II and III only

Last Answer : (C) III only

Five dimensions that must be managed on a project (A) Constraint, Quality, Cost, Schedule, Staff (B) Features, Quality, Cost, Schedule, Staff (C) Features, priority, Cost, Schedule, Staff (D) Features, Quality, Cost, Schedule, customer

Description : Five dimensions that must be managed on a project (A) Constraint, Quality, Cost, Schedule, Staff (B) Features, Quality, Cost, Schedule, Staff (C) Features, priority, Cost, Schedule, Staff (D) Features, Quality, Cost, Schedule, customer

Last Answer : (B) Features, Quality, Cost, Schedule, Staff

. If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : . If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Description : A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Last Answer : C. Management Contingency Reserve

dimensions that must be managed on a project (A)Constraint, Quality, Cost, Schedule, Staff (B)Features, Quality, Cost, Schedule, Staff (C)Features, priority, Cost, Schedule, Staff (D)Features, Quality, Cost, Schedule, customer

Description : dimensions that must be managed on a project (A)Constraint, Quality, Cost, Schedule, Staff (B)Features, Quality, Cost, Schedule, Staff (C)Features, priority, Cost, Schedule, Staff (D)Features, Quality, Cost, Schedule, customer

Last Answer : (B)Features, Quality, Cost, Schedule, Staff

The project schedule is used to determine all of the following except which one? A. Cost estimates B. Activity start dates C. Float times D. Activity end dates

Description : The project schedule is used to determine all of the following except which one?  A. Cost estimates B. Activity start dates C. Float times D. Activity end dates

Last Answer : A. Cost estimates

. If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : . If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Description : A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term  can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Last Answer : C. Management Contingency Reserve

Five dimensions that must be managed on a project A. Constraint, Quality, Cost, Schedule, Staff B. Features, Quality, Cost, Schedule, Staff C. Features, priority, Cost, Schedule, Staff D. Features, Quality, Cost, Schedule, customer

Description : Five dimensions that must be managed on a project A. Constraint, Quality, Cost, Schedule, Staff B. Features, Quality, Cost, Schedule, Staff C. Features, priority, Cost, Schedule, Staff D. Features, Quality, Cost, Schedule, customer

Last Answer : B. Features, Quality, Cost, Schedule, Staff

If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

The ____ of project closeout the assessment is to document the best practices and lessons learned for use on future projects.

Description : The ____ of project closeout the assessment is to document the best practices and  lessons learned for use on future projects.

Last Answer : Ans. Primary purpose

The primary components of the quality management function are : 1. quality planning 2. quality control and assurance 3. quantitative measurement 4. quantitative assessment of the project

Description : The primary components of the quality management function are : 1. quality planning  2. quality control and assurance  3. quantitative measurement  4. quantitative assessment of the project

Last Answer : 5. a and b