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

The ____ of project closeout the assessment is to document the best practices and 

lessons learned for use on future projects.
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Ans. Primary purpose
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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

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

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

Which one of the following is the last step of project closings?Select one: a. The client has accepted the product. b. Archives are complete. c. The client appreciates your product. d. Lessons learned are documented. e. Temporary staff is released.

Description : Which one of the following is the last step of project closings? Select one: a. The client has accepted the product. b. Archives are complete. c. The client appreciates your product. d. Lessons learned are documented. e. Temporary staff is released.

Last Answer : b. Archives are complete.

The outputs of the Close Project process include all of the following except for which one? A. Administrative closure procedure B. Formal acceptance C. Lessons learned D. Closed contracts

Description : The outputs of the Close Project process include all of the following except for which one?  A. Administrative closure procedure B. Formal acceptance C. Lessons learned D. Closed contracts

Last Answer : C. Lessons learned

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

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

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 document that describes the project’s objectives and rules is called the project charter.

Description : The document that describes the project’s objectives and rules is called the project  charter.

Last Answer : Ans: True

A ____ of activities that are used to achieve the project’s goals or objectives is known as the project life cycle.

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

. An important aim of a post-project review is to: a. validate overall progress to date against the budget and schedule. b. capture learning and document it for future usage. c. ensure acceptance of all permanent documentation, signed by the sponsor. d. establish that project benefits have been identified.

Description : . An important aim of a post-project review is to: a. validate overall progress to date against the budget and schedule. b. capture learning and document it for future usage. c. ... of all permanent documentation, signed by the sponsor. d. establish that project benefits have been identified.

Last Answer : b. capture learning and document it for future usage.

An important aim of a post-project review is to: a. validate overall progress to date against the budget and schedule. b. capture learning and document it for future usage. c. ensure acceptance of all permanent documentation, signed by the sponsor. d. establish that project benefits have been identified

Description : An important aim of a post-project review is to:  a. validate overall progress to date against the budget and schedule.  b. capture learning and document it for future usage.  c. ... of all permanent documentation, signed by the sponsor.  d. establish that project benefits have been identified

Last Answer : b. capture learning and document it for future usage.

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

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

Last Answer : 2. detriment

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

In a ____, the employees work for different projects in a team-like structure.

Description : In a ____, the employees work for different projects in a team-like structure.

Last Answer : Ans. Project-type organisational structure

____ structures are typically used in businesses that primarily sell and produce standard products and seldom conduct external projects.

Description : ____ structures are typically used in businesses that primarily sell and produce standard  products and seldom conduct external projects.

Last Answer : Ans. Functional-type organisation

All projects are basically ____, requiring huge money for completion and earning no return till their successful completion.

Description : All projects are basically ____, requiring huge money for completion and earning no  return till their successful completion.

Last Answer : Ans. Capital projects

Projects provide an excellent growth environment for future executives and for developing A. Sales skills B. Manufacturing skills C. Managerial skills D. Execution skills

Description : Projects provide an excellent growth environment for future executives and for developing A. Sales skills B. Manufacturing skills C. Managerial skills D. Execution skills

Last Answer : C. Managerial skills

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 :  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.

Last Answer : Ans: False

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

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

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

Which one of the following best describes project managc. Utilizing team members who can work on a project full time. d. Application of processes and methods throughout the project life cycle.ement? a. Using APM’s Body of Knowledge 6th edition as a guide to all projects. b. Employing a project manager who has undertaken similar projects.

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.

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 for all individuals in the project. c. lines of communication and responsibility for all the individual managers in the project. d. the reporting structure and lines of communication for all individuals in the projects.

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.

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.

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 transient endeavours that bring about change to business-as-usual. d. A project is always the starting point for operation refinement

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.

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 about eliminating risk. c. Project risk is an uncertain event that, even if it occurs, has no effect on project objectives. d. There are no risk-free projects. e. Risk management involves identification, evaluation, and elevation of risk

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.

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 themselves to create an environment of trust. c. The success of larger, more complex projects is more dependent on contracts than on relationships of trust. d. Without contracts, projects that are highly dependent on an information-rich environment will suffer. e. Contracts promote the growth of a trusting project culture.

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.

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 understanding of the project purpose b. Establishing trust among team members c. Engaging stakeholders in dialogue d. Developing role clarification on projects e. Agreeing on the means and methods for accomplishing the purpose

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

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.

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.

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

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

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%

Conflict occurrence in projects is A. Unavoidable B. Depend on type of project C. Avoidable D. Depends on culture

Description : Conflict occurrence in projects is  A. Unavoidable  B. Depend on type of project  C. Avoidable  D. Depends on culture

Last Answer : A. Unavoidable

The traditional Work Breakdown Structure makes it easy to compare the current project with past projects.

Description : The traditional Work Breakdown Structure makes it easy to compare the current  project with past projects.

Last Answer : Ans: False

The hurricane model implies that project estimates become more accurate as the project's product becomes better understood.

Description : The hurricane model implies that project estimates become more accurate as the  project's product becomes better understood.

Last Answer : Ans: True

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 : Adding staff to a project to shorten the project’s length is usually a wise move,  because adding staff normally translates into increased productivity

Last Answer : Ans: False

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.

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

. 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

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

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

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 they tend to allow too few level of detail for small projects c. be too specific for the project and difficult to compare across projects d. all of the above e. none 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

Last Answer : d. all of the above

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 ud. Application of processes and methods throughout the project life cycle.ndertaken similar projects. c. Utilising team members who can work on a project full time.

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.

Last Answer : d. Application of processes and methods throughout the project life cycle.

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 communication for all individuals in the project. c. lines of communication and responsibility for all the individual managers in the project.d. the reporting structure and lines of communication for all individuals in the projects.

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.

Last Answer : d. the reporting structure and lines of communication for all individuals in the projects.

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.

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 transient endeavours that bring about change to business-as-usual. d. A project is always the starting point for operation refinement.

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

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.

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 critical element in a project's communication system is the: 1. Progress report * 2. Project directive 3. Project manager 4. Customer

Description : )The critical element in a project's communication system is the: 1. Progress report * 2. Project directive  3. Project manager  4. Customer

Last Answer : 3. Project manager