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
Description : One of the greatest weaknesses of systems consulting firms is that they try to apply estimates and methodologies that they have developed over time and applied to other projects, most of which are very different from the current project.
Last Answer : Ans: False
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
Description : Jack is in charge of a project team. Due to an unexpected project change, some issues with the project have come up. Two key team members, Samantha and Felix, are arguing their ... concerns through conflict resolution. e. Delay this issue for now until it becomes a significant conflict.
Last Answer : a. Confront the problem early, and invite both Samantha and Felix to private meetings.
Description : Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known. (A) Algorithmic model (B) Expert judgment (C) Top down (D) Analogy
Last Answer : (D) Analogy
Description : Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known. (A)Algorithmic model (B)Expert judgment (C)Top down (D)Analogy
Last Answer : (D)Analogy
Description : According to the private property defense of the classical model of corporate social responsibility, managers who use corporate funds for projects that are not directly devoted to maximizing ... . Stockholders in publicly traded corporations are better understood as investors rather than owners.
Last Answer : C. Investors buy their stocks with the hope of maximizing return on their investment. D. Stockholders in publicly traded corporations are better understood as investors rather than owners.
Description : The COCOMO model to convert lines of code estimates into person-month estimates was designed by Allen Albrecht of IBM.
Description : During project estimation, project manager estimates following A. project cost B. project duration C. project effort D. all of the above
Last Answer : D. all of the above
Description : In the project planning, which of the following is considered as the most basic parameter based on which all other estimates are made? A. project size B. project effort C. project duration D. project schedule
Last Answer : A. project size
Description : PERT chart can be used to track the tasks of a project when task time estimates are fairly uncertain.
Description : You are a project manager for Move It Now trucking company. Your company specializes in moving household goods across the city or across the country. Your project involves upgrading the nationwide computer network for the ... the weighted average or expected value? A. 54 B. 66 C. 60 D. 30
Last Answer : C. 60
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
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
Description : Two mutually exclusive projects are being considered. Neither project will be repeated again in the future after their current lives are complete. There exists a potential problem though -- ... NPV technique and simply choose the highest IRR since managers are concerned about maximizing returns.
Last Answer : A. Rely on the NPV method and make your choice as it will tell you which one is best.
Description : What network model enables engineer managers to schedule, monitor and control large and complex projects by employing three time estimates per activity a. Forecasting b. Program evaluation review technique c. Critical path method d. simulation
Last Answer : b. Program evaluation review technique
Description : Which one of the following statements is true? a. Business-as-usual activities cannot be improved. b. Business-as-usual activities are more difficult to manage than projects. c. Projects are ... change to business-as-usual. d. A project is always the starting point for operation refinement
Last Answer : c. Projects are transient endeavours that bring about change to business-as-usual.
Description : Which of the following statements is true regarding contracts? Select one: a. They are the filters through which project members screen information that is shared. b. They do not lend ... information-rich environment will suffer. e. Contracts promote the growth of a trusting project culture.
Last Answer : b. They do not lend themselves to create an environment of trust.
Description : Which one of the following statements is true? a. Business-as-usual activities cannot be improved. b. Business-as-usual activities are more difficult to manage than projects. c. Projects are ... change to business-as-usual. d. A project is always the starting point for operation refinement.
Last Answer : c. Projects are transient endeavours that bring about change to business-as-usual
Description : A project whose acceptance requires the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project B. an independent project C. a dependent project D. None of the above
Last Answer : B. an independent project
Description : A project whose acceptance precludes the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project. D. a contingent project.
Last Answer : A. a mutually exclusive project.
Description : A project whose acceptance requires the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project D. a contingent project E. none of the above
Description : A project whose acceptance precludes the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project D. a contingent project
Last Answer : C. a dependent project
Description : Which one of the following best describes project management? a. Using APM's Body of Knowledge 6th edition as a guide to all projects. b. Employing a project manager who has undertaken similar ... on a project full time. d. Application of processes and methods throughout the project life cycle.
Last Answer : d. Application of processes and methods throughout the project life cycle.
Description : An Organizational Breakdown Structure (OBS) is used to identify: a. the reporting structure and current availability of all individuals in the project. b. technical ability and line of communication ... . d. the reporting structure and lines of communication for all individuals in the projects.
Last Answer : d. the reporting structure and lines of communication for all individuals in the 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.
Description : Which of the following statements about risk is true? Select one: a. Project risk focuses on identifying, assessing, and eliminating the risks on the project. b. Risk management is all ... are no risk-free projects. e. Risk management involves identification, evaluation, and elevation of risk
Last Answer : d. There are no risk-free projects.
Description : Determining the policies that are needed for the smooth execution of a project relates to which of the following agenda items of alignment sessions? Select one: a. Developing a common ... role clarification on projects e. Agreeing on the means and methods for accomplishing the purpose
Last Answer : d. Developing role clarification on projects
Description : Fill in the blank. Risk must be considered in the _____ phase and weighed against the potential benefit of the project’s success in order to decide if the project should be chosen. Select one: a. completion b. closeout c. execution d. planning e. initiation
Last Answer : e. initiation
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.
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
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
Description : A ____ of activities that are used to achieve the project’s goals or objectives is known as the project life cycle.
Last Answer : Ans. Rational order
Description : A Firm is considering undertaking a project that would yield annual profits (after depreciation) of Rs 68,000 for 5 years. The initial outlay of the project would be Rs 800,000 and the project's assets would have ... accounting rate of return for this project? A 16% B 8.5% C 8.0% D 9.1%
Last Answer : A 16%
Description : Conflict occurrence in projects is A. Unavoidable B. Depend on type of project C. Avoidable D. Depends on culture
Last Answer : A. Unavoidable
Description : The traditional Work Breakdown Structure makes it easy to compare the current project with past projects.
Description : The document that describes the project’s objectives and rules is called the project charter.
Description : A key factor in staffing a project involves motivating people to meet the project’s objectives, and the most effective way to do this is through the use of money and bonuses.
Description : Adding staff to a project to shorten the project’s length is usually a wise move, because adding staff normally translates into increased productivity
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.
Description : Unlike traditional Work Breakdown Structures (WBS), evolutionary WBSs are a. organized in a standard manner across all projects b. created in an iterative and incremental manner c. designed so one can compare the current project to past projects d. all of the above e. none of the above
Last Answer : d. all of the above
Description : Traditional Work Breakdown Structures tend to a. focus on the design of the system as oppose to the needs of the current phase and iteration b. force too many levels of detail early on for large ... project and difficult to compare across projects d. all of the above e. none of the above
Description : Which one of the following best describes project management? a. Using APM's Body of Knowledge 6th edition as a guide to all projects. b. Employing a project manager who has undertaken ... on a project full time. d. Application of processes and methods throughout the project life cycle.
Description : An Organisational Breakdown Structure (OBS) is used to identify: a. the reporting structure and current availability of all individuals in the project. b. technical ability and line of ... project. d. the reporting structure and lines of communication for all individuals in the 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.
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.
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