Project Manager must ensure that it develops appropriate trade off/s as A. Time, cost and performance B. Time, value and performance C.Men, Materials and Machines D.Money, Cost and Return on Investment

Project Manager must ensure that it develops appropriate trade off/s as 

A. Time, cost and performance 

B. Time, value and performance 

C.Men, Materials and Machines 

D.Money, Cost and Return on Investment
by

1 Answer

Answer :

A. Time, cost and performance
by

Related questions

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.

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.

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. In a weak matrix environment, the project manager, Eric, has to constantly make an effort to influence his project team and stakeholders to ensure project success. This is because: Select one: a. Eric has a lot of authority. b. Eric has no or little authority. c. Eric is controlled by his functional managers. d. there are no functional managers. e. Eric has flexibility on authority.

Description : Complete the following statement. In a weak matrix environment, the  project manager, Eric, has to constantly make an effort to influence his  project team and stakeholders to ensure project success. ... managers. d. there are no functional managers. e. Eric has flexibility on authority.

Last Answer : b. Eric has no or little authority.

An Expected Monetary Value (EMV) of $100000 on a potential project event in the project means which of the following? Select one: a. A number that can be ignored b. An opportunity that must be explored c. Actual losses on the event d. Actual investment returns on the event e. A threat that must be considered to minimize the project risk

Description : An Expected Monetary Value (EMV) of $100000 on a potential project event in the  project means which of the following? Select one: a. A number that can be ignored b. An opportunity that ... Actual investment returns on the event e. A threat that must be considered to minimize the project risk

Last Answer : b. An opportunity that must be explored

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

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.)

Ahmed is actively initiating a project, so he plans to invite all relevant internal and external stakeholders including sponsors, customers, project teams, etc. for a kick-off meeting. To ensure all of them are covered in the stakeholder register, which document is the most helpful for Ahmed to look at? Select one: a. Project team activities b. Scope statement c. Project charter d. Work packages e. Project funding agents

Description : Ahmed is actively initiating a project, so he plans to invite all relevant  internal and external stakeholders including sponsors, customers, project  teams, etc. for a kick-off meeting. To ensure all ... b. Scope statement c. Project charter d. Work packages e. Project funding agents

Last Answer : c. Project charter

What is the last item a project manager must do to finalize project close-out? 1. Reassign the team 2. Contract completion 3. Archive the project records 4. Complete lessons learned 5. None of the above.

Description : What is the last item a project manager must do to finalize project close-out? 1. Reassign the team  2. Contract completion  3. Archive the project records  4. Complete lessons learned  5. None of the above.

Last Answer : 2. Contract completion

From a contract management perspective, the project manager must consider the: 1. acquisition process2. contract administration 3. ecological environment 4. offer, acceptance, and consideration 5. a and b

Description : From a contract management perspective, the project manager must consider the: 1. acquisition process 2. contract administration  3. ecological environment  4. offer, acceptance, and consideration  5. a and b

Last Answer : 5. a and b

Which of the following is an important action that must be taken by top management when implementing project management in an organization? 1. Completely selling the project management concept to the entire organization. 2. Choice of the type of project manager. 3. Choice of the type of project organization to be utilized. 4. All of the above.

Description : Which of the following is an important action that must be taken by top management when  implementing project management in an organization? 1. Completely selling the project management concept to the entire ... Choice of the type of project organization to be utilized.  4. All of the above.

Last Answer : 4. All of the above.

To successfully manage a project, the PM must play both a manager and leadership role. In the manager role the PM will do all but which of the following: 1. Develop procedures 2. Align people 3. Produce results for stakeholder 4. Focus on the organization and its structure5. Both b and d

Description : To successfully manage a project, the PM must play both a manager and leadership role. In the manager role the PM will do all but which of the following: 1. Develop procedures  2. Align people  3. Produce results for stakeholder  4. Focus on the organization and its structure 5. Both b and d

Last Answer : 2. Align people

(1)Milestones established by the customer must be adhered to by: 1. Project manager 2. Functional managers 3. The customer4. Both a and b

Description : (1)Milestones established by the customer must be adhered to by: 1. Project manager  2. Functional managers  3. The customer 4. Both a and b

Last Answer : 4. Both a and b

Which of the following statements is correct regarding the internal rate of return (IRR) method? A. Each project has a unique internal rate of return. B. As long as you are not dealing with mutually exclusive projects, capital rationing, or unusual projects having multiple sign changes in the cash-flow stream, the internal rate of return method can be used with reasonable confidence. C. The internal rate of return does not consider the time value of money. D. The internal rate of return is rarely used by firms today because of the ease at which net present value is calculated

Description : Which of the following statements is correct regarding the internal rate of return (IRR) method? A. Each project has a unique internal rate of return. B. As long as you are not dealing with ... of return is rarely used by firms today because of the ease at which net present value is calculated

Last Answer : D. The internal rate of return is rarely used by firms today because of the ease at which net present value is calculated.

Which of the following statements is correct regarding the internal rate of return (IRR) method? A. Each project has a unique internal rate of return. B. As long as you are not dealing with mutually exclusive projects, capital rationing, or unusual projects having multiple sign changes in the cash-flow stream, the internal rate of return method can be used with reasonable confidence. C. The internal rate of return does not consider the time value of money. D. The internal rate of return is rarely used by firms today because of the ease at which net present value is calculated.

Description : Which of the following statements is correct regarding the internal rate of return (IRR) method? A. Each project has a unique internal rate of return. B. As long as you are not dealing with ... of return is rarely used by firms today because of the ease at which net present value is calculated.

Last Answer : D. The internal rate of return is rarely used by firms today because of the ease at which net present value is calculated.

Which of the following statements is correct regarding the internal rate of return (IRR) method? A. Each project has a unique internal rate of return B. As long as you are not dealing with mutually exclusive projects, capital rationing, or unusual projects having multiple sigD. The internal rate of return is rarely used by firms today because of the ease at which net present value is calculatedn changes in the cash-flow stream, the internal rate of return method can be used with reasonable confidence. C. The internal rate of return does not consider the time value of money.

Description : Which of the following statements is correct regarding the internal rate of return (IRR) method? A. Each project has a unique internal rate of return B. As long as you are not dealing with ... of return is rarely used by firms today because of the ease at which net present value is calculated

Last Answer : D. The internal rate of return is rarely used by firms today because of the ease at which net present value is calculated.

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

To the nearest rupee, what is the net present value of a replacement project whose cash flows are -Rs.104,000; Rs.34,444; Rs.39,877; Rs.25,000; and Rs.52,800 for years 0 through 4, respectively? The firm has decided to assume that the appropriate cost of capital is 10% and the appropriate risk-free rate is 6%. A. Rs.15,115 B. Rs.26,798 C. Rs.33,346 D. Rs.48,121

Description : To the nearest rupee, what is the net present value of a replacement project whose cash flows are -Rs.104,000; Rs.34,444; Rs.39,877; Rs.25,000; and Rs.52,800 for years 0 through 4, respectively? The firm has decided to ... -free rate is 6%. A. Rs.15,115 B. Rs.26,798 C. Rs.33,346 D. Rs.48,121

Last Answer : C. Rs.33,346

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.

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.

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 alternatd. document the outcome of the risk, change and configuration management processes.ive 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.

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 ... managing 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.

The return available by investing the capital elsewhere is known as (A) profit rate (B) discount rate (C) opportunity cost (D) return on investment

Description : The return available by investing the capital elsewhere is known as (A) profit rate (B) discount rate (C) opportunity cost (D) return on investment

Last Answer : (C) opportunity cost

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

You are a project manager for Cinema Snicker Productions. Your company specializes in producing comedy films for the big screen. Your latest project has just been cancelled because of budget cuts. Which of the following statements is true? A. This project ended due to starvation because the funding was cut off. B. This project ended due to integration because the resources were distributed elsewhere. C. This project ended due to starvation because the resources were distributed elsewhere. D. This project ended due to integration because the funding was cut off.

Description : You are a project manager for Cinema Snicker Productions. Your company  specializes in producing comedy films for the big screen. Your latest project has just been  cancelled because of budget cuts ... elsewhere. D. This project ended due to integration because the funding was cut off.

Last Answer : A. This project ended due to starvation because the funding was cut off.

Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to enable benefits to be realised. c. to take ultimate accountability for the delivery of the business benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Description : Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to ... benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Last Answer : b. to deliver the project objectives to enable benefits to be realised.

Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to enable benefits to be realised. c. to take ultimate accountability for the delivery of the business benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Description : Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time.  b. to deliver the project objectives to ... benefits.  d. to delegate all accountability for managing time, cost and quality to team leaders.

Last Answer : b. to deliver the project objectives to enable benefits to be realised.

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 A. 54 B. 66 C. 60 D. 30project involves upgrading the nationwide computer network for the company. Your lead engineer has given you the following estimates for a critical path activity: 60 days most likely, 72 days pessimistic, 48 days optimistic. What is the weighted average or expected value?

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

As A Project Manager How To Add Value To Your Project?

Description : As A Project Manager How To Add Value To Your Project?

Last Answer : Project Manager Add Value By:  Define Proper Communication Plan.  Maintain Clear Functional and Technical Documentation.  Arrange Brainstorming session within the team to deliver best quality of ... Team Morale with Creative and fun activities.  appropriate resource backup and risk plan.

Following is(are) the responsibility(ies) of the project manager. (A) Budgeting and cost control (B) Allocating resources (C) Tracking project expenditure

Description : Following is(are) the responsibility(ies) of the project manager. (A) Budgeting and cost control (B) Allocating resources (C) Tracking project expenditure

Last Answer : (C) Tracking project expenditure

During project estimation, project manager estimates following A. project cost B. project duration C. project effort D. all of the above

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

When a project manager starts to plan a new project budget, the cost of which project management process group is expected to be lowest? Select one: a. Initiating b. Executing c. Monitoring and controlling d. Closing e. Planning

Description : When a project manager starts to plan a new project budget, the cost  of which project management process group is expected to be lowest? Select one: a. Initiating b. Executing c. Monitoring and controlling d. Closing e. Planning

Last Answer : d. Closing

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

Following is(are) the responsibility(ies) of the project manager. (A)Budgeting and cost control (B)Allocating resources (C)Tracking project expenditure (D)All of the above

Description : Following is(are) the responsibility(ies) of the project manager. (A)Budgeting and cost control (B)Allocating resources (C)Tracking project expenditure (D)All of the above

Last Answer : (D)All of the above

On a project the project manager should strive for a "Quality Level" that : 1. is the highest level possible 2. is as close to the project objectives as possible 3. represents the least cost to the project. 4. Exceeds the specified requirements of the project.

Description : On a project the project manager should strive for a "Quality Level" that : 1. is the highest level possible  2. is as close to the project objectives as possible  3. represents the least cost to the project.  4. Exceeds the specified requirements of the project.

Last Answer : 2. is as close to the project objectives as possible

Christine does not have the skills that her project manager feels are necessary and no money has been budgeted for outside consultants. Mentoring is a good option to improve Christine’s skills in this situation.

Description : Christine does not have the skills that her project manager feels are necessary and no  money has been budgeted for outside consultants. Mentoring is a good option to improve  Christine’s skills in this situation.

Last Answer : Ans: True

Which of the following is least likely to be part of the calculation of the terminal- year incremental net cash flow for an energy-related expansion project? A. An initial working capital investment is now returned as an additional cash inflow B. Disposal/reclamation costs C. Capitalized expenditures D. Salvage value of any sold or disposed assets

Description : Which of the following is least likely to be part of the calculation of the terminal- year incremental net cash flow for an energy-related expansion project? A. An initial working capital ... Disposal/reclamation costs C. Capitalized expenditures D. Salvage value of any sold or disposed assets

Last Answer : D. Salvage value of any sold or disposed assets

The justification for the investment to be made in a project is documented in the: a. Cost Breakdown Structure. b. procurement strategy. c. business case. d. Project Management Plan.

Description : The justification for the investment to be made in a project is documented in the: a. Cost Breakdown Structure. b. procurement strategy. c. business case. d. Project Management Plan.

Last Answer : c. business case.

___ should be made of all cost factors so as to reflect on all relevant investment and operational costs of the project including contingencies.

Description : ___ should be made of all cost factors so as to reflect on all relevant investment and  operational costs of the project including contingencies.

Last Answer : Ans. Realistic estimates

The justification for the investment to be made in a project is documented in the: a. Cost Breakdown Structure. b. procurement strategy. c. business case. d. Project Management Plan

Description : The justification for the investment to be made in a project is documented in the:  a. Cost Breakdown Structure.  b. procurement strategy.  c. business case.  d. Project Management Plan

Last Answer : c. business case.

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

Project performance consists of (A) Time (B) Cost (C) Quality (D) All of the above

Description : Project performance consists of (A) Time (B) Cost (C) Quality (D) All of the above

Last Answer : (C) Quality

Project performance consists of (A)Time (B)Cost (C)Quality (D)All of the above

Description : Project performance consists of (A)Time (B)Cost (C)Quality (D)All of the above

Last Answer : (D)All of the above

A cost performance index (CPI) of 0.89 means: A. At this time, we expect the total project to cost 89 percent more than planned B. When the project is completed we will have spent 89 percent more than planned C. The project is only progressing at 89 percent of the rate planned D. The project is only getting 89 cents out of every dollar invested

Description : A cost performance index (CPI) of 0.89 means:  A. At this time, we expect the total project to cost 89 percent more than planned  B. When the project is completed we will have spent 89 ... at 89 percent of the rate planned  D. The project is only getting 89 cents out of every dollar invested

Last Answer : D. The project is only getting 89 cents out of every dollar invested

A time-phased budget that project managers use to measure and monitor cost performance. A. Cost Baseline B. Cost Budgeting C. Cost Estimating D. Cost Variance

Description :  A time-phased budget that project managers use to measure and monitor cost performance. A. Cost Baseline B. Cost Budgeting C. Cost Estimating D. Cost Variance

Last Answer : A. Cost Baseline

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 a residual value of Rs 50,000 at the end of the project. What would be the accounting rate of return for this project? A 16% B 8.5% C 8.0% D 9.1%

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%