)In a program or project plan, there are always revisions to account for new or missing data. Which one of the following provides the best reason for performing a revision of the plan? 1. A supplier has changed the way their product is delivered to your supplier 2. Project tasks are crashed to meet their end dates 3. Human resources will remain constant through out the project 4. Historical data on a similar project suggests that risk events are not included in the current plan.

)In a program or project plan, there are always revisions to account for new or missing data. 

Which one of the following provides the best reason for performing a revision of the plan?

1. A supplier has changed the way their product is delivered to your supplier 

2. Project tasks are crashed to meet their end dates 

3. Human resources will remain constant through out the project 

4. Historical data on a similar project suggests that risk events are not included in the current 

plan.
by

1 Answer

Answer :

2. Project tasks are crashed to meet their end dates
by

Related questions

What is the most accurate method of obtaining project information that can reduce the amount of risk? 1. Observations on the current project 2. Determining the risk by using brainstorming techniques 3. The use of historical data from previous projects that were similar in nature 4. Sensitivity analysis 5. Delphi technique.

Description : What is the most accurate method of obtaining project information that can reduce the amount  of risk? 1. Observations on the current project  2. Determining the risk by using brainstorming ... from previous projects that were similar in nature  4. Sensitivity analysis  5. Delphi technique.

Last Answer : 3. The use of historical data from previous projects that were similar in nature

A Unit Price (UP) contract provides: 1. a reimbursement of allowable costs plus a fixed fee which is paid proportionately as the contract progresses 2. a reimbursement of allowable cost of services performed plus an agreed upon percentage of the estimated cost as profit 3. the supplier with a fixed price for delivered performance plus a predetermined fee for superior performance 4. a fixed price where the supplier agrees to furnish goods and services at unit rates and the final price is dependent on the quantities needed to carry out the work.

Description : A Unit Price (UP) contract provides: 1. a reimbursement of allowable costs plus a fixed fee which is paid proportionately as the  contract progresses  2. a reimbursement of allowable cost of services ... unit rates and the  final price is dependent on the quantities needed to carry out the work.

Last Answer : 4. a fixed price where the supplier agrees to furnish goods and services at unit rates and the  final price is dependent on the quantities needed to carry out the work

During the planning development process, at times it is necessary to make certain assumptions to enhance the project plan when the data is not available. In regard to making those assumptions, which one of the following is most true for project planning purposes? 1. The assumptions will be considered as true, real, or certain. 2. By making the assumption, it tends to reduce the project risk. 3. Project assumptions are based upon historical data used for the project. 4. Senior management predefines the budget constraints.

Description : During the planning development process, at times it is necessary to make certain assumptions to enhance the project plan when the data is not available. In regard to making those assumptions, ... upon historical data used for the project.  4. Senior management predefines the budget constraints.

Last Answer : 1. The assumptions will be considered as true, real, or certain.

The methods and regulation used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project is known as … a. project management. b. Process Management c. Process d. Activities

Description : The methods and regulation used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project is known as … a. project management. b. Process Management c. Process d. Activities

Last Answer : a. project management.

When an R&D effort started in 2001 completes on September 15, 2002, the product revision kicks in a. October 1, 2002. b. immediately upon completion. c. January 1, 2003. d. R&D has no effect on product revisions. e. September 15, 2003.

Description : When an R&D effort started in 2001 completes on September 15, 2002, the product revision kicks in a. October 1, 2002. b. immediately upon completion. c. January 1, 2003. d. R&D has no effect on product revisions. e. September 15, 2003.

Last Answer : b. immediately upon completion.

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.

Complete the following statement. As the project progresses into the execution phase: Select one: a. risks need to be checked off on activities that have been performed. b. the total risk on the project typically increases. c. risks are identified with each major group of activities. d. a risk response plan can be used to identify increasing levels of detailed risk analysis. e. the risk breakdown structure needs to be examined to be sure all the risk events have been avoided.

Description : Complete the following statement. As the project progresses into the  execution phase: Select one: a. risks need to be checked off on activities that have been performed. b. the total risk on ... risk breakdown structure needs to be examined to be sure all the risk events have  been avoided.

Last Answer : a. risks need to be checked off on activities that have been performed.

All of the following statements are true regarding risk events except which one? Choose the least correct answer.A. Project risks are uncertain events. B. If risks occur, they can have a positive or negative effect on project objectives. C. Unknown risks are threats to the project objectives, and nothing can be done to plan for them. D. Risks that have more perceived rewards to the organization than the consequences of the risk should be accepted.

Description : All of the following statements are true regarding risk events except which one?  Choose the least correct answer. A. Project risks are uncertain events.  B. If risks occur, they can ... that have more perceived rewards to the organization than the consequences of  the risk should be accepted.

Last Answer : C. Unknown risks are threats to the project objectives, and nothing can be done to  plan for them.

Boehm suggests an approach that addresses project objectives, milestones and schedules, responsibilities, management and technical approaches and required resources, This principle is called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.

Description : Boehm suggests an approach that addresses project objectives,  milestones and schedules, responsibilities, management and  technical approaches and required resources, This principle is  called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.

Last Answer : c. W5HH principle

According to the PMBOK guide which of the following sta. Reserve analysis always plans contingency reserves for unexpected project scope and project costs, which are part of your project budget. b. Reserves should not be included in the project budget. c. If you only have limited resources, you may completely ignore reserve analysis when you try to determine your project budget. d. Planning contingency reserves for a project is not practical. e. Contingency reserves have never been a concern when planning a project budget.atements is right in terms of using reserve analysis to determine a project budget ?

Description : According to the PMBOK guide which of the following statements is right in terms  of using reserve analysis to determine a project budget ? a. Reserve analysis always plans contingency reserves ... not practical. e. Contingency reserves have never been a concern when planning a project budget.

Last Answer : . Reserve analysis always plans contingency reserves for unexpected project scope and  project costs, which are part of your project budget.

According to the PMBOK guide, which of the following statements is right in terms of using reserve analysis to determine a project budget? Select one: A. Reserve analysis always plans contingency reserves for unexpected project scope and project costs, which are part of your project budget. B. Reserves should not be included in the project budget. C. If you only have limited resources, you may completely ignore reserve analysis when you try to determine your project budget. D. Planning contingency reserves for a project is not practical. E. Contingency reserves have never been a concern when planning a project budget.

Description : According to the PMBOK guide, which of the following statements is  right in terms of using reserve analysis to determine a project budget? Select one: A. Reserve analysis always plans ... not practical. E. Contingency reserves have never been a concern when planning a project budget.

Last Answer : A. Reserve analysis always plans contingency reserves for unexpected project scope and  project costs, which are part of your project budget.

Project management is the job of organising, coordinating, and controlling the various tasks and resources in order to successfully complete a project. (True/False

Description : Project management is the job of organising, coordinating, and controlling the various  tasks and resources in order to successfully complete a project. (True/False

Last Answer : Ans. True

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

Walter’s Model suggests that a firm can always increase the value of the share by: A. Increasing dividend B. Decreasing dividend C. Constant Dividend D. None of the

Description : Walter’s Model suggests that a firm can always increase the value of the share by: A. Increasing dividend B. Decreasing dividend C. Constant Dividend D. None of the

Last Answer : D. None of the

To crash a schedule you should: 1. Increase the time allowed on those tasks that have float. 2. Try to increase expenditures of time only those tasks that are behind schedule. 3. Replace those worker that are not performing up to par with the busy. 4. Increase work efforts on those tasks that are on the critical path.

Description : To crash a schedule you should: 1. Increase the time allowed on those tasks that have float.  2. Try to increase expenditures of time only those tasks that are behind schedule.  3. Replace those ... to par with the busy.  4. Increase work efforts on those tasks that are on the critical path.

Last Answer : 4. Increase work efforts on those tasks that are on the critical path.

CASE tool is a popular graphic depiction of the work plan that lists project tasks along a y-axis, time along an x-axis, and uses shaded boxes to represent tasks.

Description : CASE tool is a popular graphic depiction of the work plan that lists project tasks along a y-axis, time along an x-axis, and uses shaded boxes to represent tasks.

Last Answer : Ans: False

The work plan records and keeps track of all of the tasks that need to be accomplished over the life of the project, listing each task, along with important information about it, such as when it needs to be completed, the person assigned to do the work, and any deliverables that will result.

Description : The work plan records and keeps track of all of the tasks that need to be accomplished  over the life of the project, listing each task, along with important information about it,  such as when it needs to be completed, the person assigned to do the work, and any  deliverables that will result.

Last Answer : Ans: True

Ryan, a newly hired systems analyst/consultant, is about to begin a systems project. Where will Ryan look first to locate the identifiable tasks he will record in his work plan? a. call a friend at a competing firmb. his Systems Analysis text book from college c. the company training materials for the company methodology d. the project planning software available at the local bookstore e. the website of his old college professor

Description : Ryan, a newly hired systems analyst/consultant, is about to begin a systems project.  Where will Ryan look first to locate the identifiable tasks he will record in his work plan?  a. ... . the project planning software available at the local bookstore  e. the website of his old college professor

Last Answer : c. the company training materials for the company methodology

To identify the tasks for a work plan the project manager can _____. a. control and direct the project b. estimate the size, staff the project, and remember technical skills c. establish a possible reporting structure d. list the four phases of the SDLC and the steps that occur in each e. set conservative numbers for the project software

Description : To identify the tasks for a work plan the project manager can _____.  a. control and direct the project  b. estimate the size, staff the project, and remember technical skills  c. establish a ... of the SDLC and the steps that occur in each  e. set conservative numbers for the project software

Last Answer : d. list the four phases of the SDLC and the steps that occur in each

The three steps of project management are _____. a. controlling the project, directing the project, and creating the work plan b. creating the work plan, staffing the project, and controlling and directing the project c. directing the project, creating the work plan, and naming the tasks d. naming the tasks, creating the work plan, and completing the deliverables e. setting the start date, estimating the time, and reading the actual time

Description : The three steps of project management are _____. a. controlling the project, directing the project, and creating the work plan  b. creating the work plan, staffing the project, and controlling ... the deliverables  e. setting the start date, estimating the time, and reading the actual time

Last Answer : b. creating the work plan, staffing the project, and controlling and directing the  project

A critical success factor for project management is to _____. a. create a work plan b. follow the three steps of project management c. identify most project tasks d. manage the hundreds of tasks

Description : A critical success factor for project management is to _____.  a. create a work plan  b. follow the three steps of project management  c. identify most project tasks  d. manage the hundreds of tasks

Last Answer : e. start with a realistic assessment of the work

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

You are the project manager working on a research project for a new drug treatment. Your preliminary project schedule runs past the due date for a federal grant application. The manager of the R&D department has agreed to release two resources to work on your project in order to meet the federal grant application date. This is an example of _______________. A. Crashing B. fast tracking C. resource leveling D. adjusting the resource calendar

Description : You are the project manager working on a research project for a new drug treatment. Your preliminary project schedule runs past the due date for a federal grant application. The manager of the R&D ... .  A. Crashing B. fast tracking C. resource leveling D. adjusting the resource calendar

Last Answer : A. Crashing

Which one of the following statements is true? a. Independ. Quality planning enables the project manager to manage the trade-off between customer expectations and budgetdent reviews and quality audits form part of quality assurance to ensure the project manager delivers on time and to budget. b. Quality assurance provides confidence to stakeholders that requirements for quality will be exceeded. c. Quality control verifies that the project deliverables conform to specification, are fit for purpose and meet stakeholder expectations.

Description : Which one of the following statements is true? a. Independent reviews and quality audits form part of quality assurance to ensure the project manager delivers on time and to budget. ... Quality planning enables the project manager to manage the trade-off between customer expectations  and budget

Last Answer : c. Quality control verifies that the project deliverables conform to specification, are fit for purpose and  meet stakeholder expectations.

Project management provides the project managers and team members with the principles they require to effectively meet the needs of the customer. (True/False)

Description : Project management provides the project managers and team members with the  principles they require to effectively meet the needs of the customer. (True/False)

Last Answer : Ans. True

Which one of the following statements is true? a. Independent reviews and quality audits form part of quality assurance to ensure the project manager delivers on time and to budget. b. Quality assurance provides confidence to stakeholders that requirements for quality will be exceeded. c. Quality control verifies that the project deliverables conform to specification, are fit for purpose and meet stakeholder expectations. d. Quality planning enables the project manager to manage the trade-off between customer expectations and budget.

Description : Which one of the following statements is true?  a. Independent reviews and quality audits form part of quality assurance to ensure the project  manager delivers on time and to budget. ... planning enables the project manager to manage the trade-off between customer  expectations and budget.

Last Answer : c. Quality control verifies that the project deliverables conform to specification, are fit for  purpose and meet stakeholder expectations.

)The total amount of risk that is calculated for a project is found by 1. Multiplying the sum of each the risk times the amount at stake2. Calculating the cumulative sum of the probability for each risk and multiplying this value times the consequence of occurrence of the risk events 3. Cannot be calculated since all risks are not know 4. The amount of project reserves available

Description : )The total amount of risk that is calculated for a project is found by 1. Multiplying the sum of each the risk times the amount at stake 2. Calculating the cumulative sum of the probability for ... 3. Cannot be calculated since all risks are not know  4. The amount of project reserves available

Last Answer : 2. Calculating the cumulative sum of the probability for each risk and multiplying this value times the consequence of occurrence of the risk events

Political unrest, budget overruns, size and complexity of the project Answer: B (8)Decision trees are best used for : 1. Determining the interaction of the amount at stake and the expected value 2. Association of the probabilities with the risk events 3. An illustration of how to see the interactions between decisions and the associated events 4. A flow chart which determines the standard deviation of the risk event

Description : Political unrest, budget overruns, size and complexity of the project  Answer: B  (8)Decision trees are best used for : 1. Determining the interaction of the amount at stake and the expected ... and the associated events  4. A flow chart which determines the standard deviation of the risk event

Last Answer : 3. An illustration of how to see the interactions between decisions and the associated events

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

. It is not wise to identify tasks for a current project using existing methodology, because methodologies that have been used by an organization for other projects probably will not work for this project without extensive changes.

Description : . It is not wise to identify tasks for a current project using existing methodology,  because methodologies that have been used by an organization for other projects probably will not work for this project without extensive changes.

Last Answer : Ans: False

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

Constantine suggests four “organizational paradigms” for engineering teams. The best project team organizational model to use when handling extremely complex problems is a. Random paradigm b. Open paradigm c. Synchronous paradigm d. Closed paradigm

Description : Constantine suggests four “organizational paradigms” for  engineering teams. The best project team organizational model to use when handling extremely complex problems is  a. Random paradigm b. Open paradigm c. Synchronous paradigm d. Closed paradigm

Last Answer : a. Random paradigm

The Scope Management Plan is included in which of the following documents. 1. Project Plan 2. The Work Breakdown Structure 3. The Scope Statement 4. Project Specifications

Description : The Scope Management Plan is included in which of the following documents. 1. Project Plan  2. The Work Breakdown Structure  3. The Scope Statement  4. Project Specifications

Last Answer : 3. The Scope Statement

Problems with using Lines of Code to measure the size of a product include(s) a) The creation of source code is only part of the development effort b) The Lines of Code (LOC) will differ between languages and cannot bemeasured for some languages c) Should comments, data definitions etc (i.e. non-executable LOC) be includedas well? D) The final size (kLOC) can only be determined once the product is delivered e) All of the above.

Description : Problems with using Lines of Code to measure the size of a product include(s) a) The creation of source code is only part of the development effort b) The Lines of Code (LOC) will differ between ... The final size (kLOC) can only be determined once the product is delivered e) All of the above.

Last Answer : e) All of the above.

Risk, as it relates to working capital, means that there is jeopardy to the firm for not maintaining sufficient current assets to . A. meet its cash obligations as they occur and take advantage of prompt payment B. discounts C. support the proper level of sales and take prompt payment discounts D. maintain current and acid-test ratios at or above industry norms E. meet its cash obligations as they occur and support the proper level of

Description : Risk, as it relates to working capital, means that there is jeopardy to the firm for not  maintaining sufficient current assets to . A. meet its cash obligations as they occur and take advantage ... above industry norms E. meet its cash obligations as they occur and support the proper level of

Last Answer : D. maintain current and acid-test ratios at or above industry norms

One of the reasons a project life cycle is split into phases ic. mirror the major deployments of resources throughout the project. d. chunk work into time periods of similar durations.s to: a. facilitate formal go/no-go decision making during the project. b. balance the costs of work in each phase of project development.

Description : One of the reasons a project life cycle is split into phases is to: a. facilitate formal go/no-go decision making during the project. b. balance the costs of work in each phase of ... the major deployments of resources throughout the project. d. chunk work into time periods of similar durations.

Last Answer : a. facilitate formal go/no-go decision making during the project.

One of the reasons a project life cycle is split into phases is to: a. facilitate formal go/no-go decision making during the project. b. balance the costs of work in each phase of project development. c. mirror the major deployments of resources throughout the project. d. chunk work into time periods of similar durations.

Description : One of the reasons a project life cycle is split into phases is to:  a. facilitate formal go/no-go decision making during the project.  b. balance the costs of work in each phase ... the major deployments of resources throughout the project.  d. chunk work into time periods of similar durations.

Last Answer : a. facilitate formal go/no-go decision making during the project.

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 main purpose of the Project Management Plan is to: a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk of alternative options. b. ensure the project sponsor has tight control of the project manager’s activity. c. document the outcomes of the planning process and provide the reference document for managing the project. d. document the outcome of the risk, change and configuration management processes.

Description : The main purpose of the Project Management Plan is to: a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk of  alternative options. b. ensure ... the  project. d. document the outcome of the risk, change and configuration management processes.

Last Answer : c. document the outcomes of the planning process and provide the reference document for managing the  project.

Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

Description : Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

Last Answer : d. Risk Breakdown Structure.

Which of the following is the most important element ofA. Risk Management activities B. Quality Assurance activities C. Activity Resource requirements D. Budget Control activities Project Management Plan that is useful in HR Planning process:

Description :  Which of the following is the most important element of Project Management Plan that is useful in HR Planning process: A. Risk Management activities B. Quality Assurance activities C. Activity Resource requirements D. Budget Control activities

Last Answer : C. Activity Resource requirements

Once the project is approved and moves into the planninb. The total risk on the project typically reduces as activities are performed without loss. c. Risks must be weighed against the potential benefit of the project’s success in order to decide if the project should be chosen. d. Risks are identified with each major group of activities. e. A risk response plan can be used to identify increasing levels of detailed risk analysisg stage, what happens in the next phase of the project life cycle? Select one: a. Agreements for risk sharing need to be concluded.

Description : Once the project is approved and moves into the planning stage, what happens  in the next phase of the project life cycle? Select one: a. Agreements for risk sharing need to be concluded. ... activities. e. A risk response plan can be used to identify increasing levels of detailed risk analysis

Last Answer : d. Risks are identified with each major group of activities.

What is the most critical aspect in developing a project plan that meets project specifications within the timeframe and at the lowest costs? Select one: a. Assessing risk managemenc. Emphasizing error prevention and customer satisfaction d. Requiring commitment to quality by all the employees and business partners e. Developing a project execution plan that matches the complexity level of the projectt b. Providing documents that specifically comply with the quality standards in use

Description : What is the most critical aspect in developing a project plan that meets project  specifications within the timeframe and at the lowest costs? Select one: a. Assessing risk management b ... business partners e. Developing a project execution plan that matches the complexity level of the project

Last Answer : e. Developing a project execution plan that matches the complexity level of the project

What is the first step in developing a risk management plan? Select one: a. Analyze the risks. b. Estimate the likelihood of the risks occurring. c. Identify potential project risks. d. Develop a risk mitigation plan. e. Estimate the potential impact of risk on the project goals.

Description : What is the first step in developing a risk management plan? Select one: a. Analyze the risks. b. Estimate the likelihood of the risks occurring. c. Identify potential project risks. d. Develop a risk mitigation plan. e. Estimate the potential impact of risk on the project goals.

Last Answer : c. Identify potential project risks.

Once the project is approved and moves into the planning stage, what happens in the next phase of the project life cycle?Select one: a. Agreements for risk sharing need to be concluded. b. The total risk on the project typically reduces as activities are performed without loss. c. Risks must be weighed against the potential benefit of the project’s success in order to decide if the project should be chosen. d. Risks are identified with each major group of activities. e. A risk response plan can be used to identify increasing levels of detailed risk analysis

Description : Once the project is approved and moves into the planning stage, what  happens in the next phase of the project life cycle? Select one: a. Agreements for risk sharing need to be concluded. ... activities. e. A risk response plan can be used to identify increasing levels of detailed risk analysis

Last Answer : d. Risks are identified with each major group of activities.

Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

Description : Andrew has joined as the Project Manager of a project. One of the project documents  available to Andrew lists down all the risks in a hierarchical fashion. What is this document  called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

Last Answer : d. Risk Breakdown Structure.