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

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
by

1 Answer

Answer :

e. initiation
by

Related questions

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

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.

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.

Fill in the blank. During the _________ of a project, the project manager focuses on developing the project infrastructure needed to execute the project and developing clarity around the project charter and scope. Select one: a. completion b. start-up c. execution d. evaluation e. selection

Description : Fill in the blank. During the _________ of a project, the project manager focuses on  developing the project infrastructure needed to execute the project and developing  clarity around the project charter and scope. ... one: a. completion b. start-up c. execution d. evaluation e. selection

Last Answer : b. start-up

Fill in the blank. During the _________ of a project, the project manager focuses on developing the project infrastructure needed to execute the project and developing clarity around the project charter and scope. Select one: a. completion b. start-up c. execution d. evaluation e. selection

Description : Fill in the blank. During the _________ of a project, the project manager  focuses on developing the project infrastructure needed to execute the  project and developing clarity around the project charter and scope. ... one: a. completion b. start-up c. execution d. evaluation e. selection

Last Answer : b. start-up

The business case and the justification for the project is determined during the _____ phase. (A) initiation (B) planning(C) execution (D) closure

Description : The business case and the justification for the project is determined during the _____ phase. (A) initiation (B) planning (C) execution (D) closure

Last Answer : (A) initiation

Fill in the blank. Work breakdown structure (WBS) is a ______________ of the work with increasing detail in each layer. Select one: a. layered description b. step change c. ballpark estimate d. project execution plan e. project logic diagram

Description : Fill in the blank. Work breakdown structure (WBS) is a ______________ of the work  with increasing detail in each layer. Select one: a. layered description b. step change c. ballpark estimate d. project execution plan e. project logic diagram

Last Answer : a. layered description

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

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

Last Answer : b. achievement

Assembling project team and assigning their responsibilities are done during which phase of a project management? (A) Initiation (B) Planning (C) Execution (D) Closure

Description : Assembling project team and assigning their responsibilities are done during which phase of a  project management? (A) Initiation (B) Planning (C) Execution (D) Closure

Last Answer : A) Initiation

The review of the successes and the mistakes is normally held during _____ phase. (A) initiation (B) planning (C) execution (D) closure

Description : The review of the successes and the mistakes is normally held during _____ phase. (A) initiation (B) planning (C) execution (D) closure

Last Answer : (D) closure

Fill in the blank. The _____ is the difference between the additional money spent on prevention and the corresponding reduction in the cost of failure. Select one: a. cost-benefit analysis b. implicit cost c. cost of quality d. variable cost e. cost-utility analysis

Description : Fill in the blank. The _____ is the difference between the additional money spent on  prevention and the corresponding reduction in the cost of failure. Select one: a. cost-benefit analysis b. implicit cost c. cost of quality d. variable cost e. cost-utility analysis

Last Answer : c. cost of quality

Fill in the blank. There is _______ correlation between project complexity and project risk. Select one:a. an unknown b. a positive c. no d. a negative e. a general

Description : Fill in the blank. There is _______ correlation between project complexity  and project risk. Select one: a. an unknown b. a positive c. no d. a negative e. a general

Last Answer : b. a positive

Fill in the blank. Crashing refers to when the task duratioSelect one: a. scope creep b. floated c. slack d. compressed e. expeditedn’s are __ along the critical path to meet the project completion date.

Description : Fill in the blank. Crashing refers to when the task duration’s are __ along the  critical path to meet the project completion date. Select one: a. scope creep b. floated c. slack d. compressed e. expedited

Last Answer : d. compressed

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

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

Last Answer : Ans. Primary purpose

. When estimating project time schedules using industry standards, the estimated project completion time for a systems project would be _____ person-months if the actual planning phase were completed in 6 person-months. a. 30 b. 40 c. 17.14 d. 9 e. 50

Description : . When estimating project time schedules using industry standards, the estimated  project completion time for a systems project would be _____ person-months if the actual  planning phase were completed in 6 person-months.  a. 30  b. 40  c. 17.14  d. 9  e. 50

Last Answer : b. 40

Which stage of project management life cycle requires the maximum time of completion A.Conceptualization B.Planning C.Execution D.Estimation

Description : Which stage of project management life cycle requires the maximum time of  completion  A.Conceptualization  B.Planning  C.Execution  D.Estimation

Last Answer : C.Execution

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.

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

Complete the following statement. The method of incorporating change into project planning and execution processes is called the: Select one: a. project logic diagram. b. change management process. c. milestone schedule d. critical path e. rough order of magnitude

Description : Complete the following statement. The method of incorporating change into  project planning and execution processes is called the: Select one: a. project logic diagram. b. change management process. c. milestone schedule d. critical path e. rough order of magnitude

Last Answer : b. change management process.

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

Fill in the blank. A __ represents the sequence of the activities needed to complete the project. Select one: a. work break down structure b. scope of work c. project logic diagram d. run chart e. step change

Description : Fill in the blank. A __ represents the sequence of the activities needed to  complete the project. Select one: a. work break down structure b. scope of work c. project logic diagram d. run chart e. step change

Last Answer : c. project logic diagram

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.

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

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

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.

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.

What is considered to be the most useful skill for a project manager who works in a matrix environment in order to achieve project goals? Select one: a. Leadership skill b. Influencing c. Conflict management skill d. Time management e. Planning skill

Description : What is considered to be the most useful skill for a project manager  who works in a matrix environment in order to achieve project goals? Select one: a. Leadership skill b. Influencing c. Conflict management skill d. Time management e. Planning skill

Last Answer : b. Influencing

According to a statistical report: “over 30% of all projects are cancelled before completion and over 70% of the remainder fail to deliver expected features”. What must be the reason for such a situation ? a) Poor change management b) Poor requirements management c) Poor quality control d) All of the mentioned

Description : According to a statistical report: over 30% of all projects are cancelled before completion and over 70% of the remainder fail to deliver expected features . What must be the reason for such ... change management b) Poor requirements management c) Poor quality control d) All of the mentioned

Last Answer : b) Poor requirements management

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.

The phases of a project life cycle are: a. starting, planning, control and closing. b. concept, definition, development, handover and closure. c. initiation, definition, planning, monitoring and operations. d. concept, definition, implementation and operations.

Description : The phases of a project life cycle are: a. starting, planning, control and closing. b. concept, definition, development, handover and closure. c. initiation, definition, planning, monitoring and operations. d. concept, definition, implementation and operations.

Last Answer : b. concept, definition, development, handover and closure.

Which stage marks the beginning of the project? a ) Initiation b) Planning c) Deciding on a project d) Closing out the previous project.

Description : Which stage marks the beginning of the project? a ) Initiation b) Planning c) Deciding on a project d) Closing out the previous project.

Last Answer : Initiation

The phases of a project life cycle are: a. starting, planning, control and closing. b. concept, definition, development, handover and closure. c. initiation, definition, planning, monitoring and operations. d. concept, definition, implementation and operations.

Description : The phases of a project life cycle are:  a. starting, planning, control and closing.  b. concept, definition, development, handover and closure.  c. initiation, definition, planning, monitoring and operations.  d. concept, definition, implementation and operations.

Last Answer : b. concept, definition, development, handover and closure.

After the celebration of the successful milestone completion, a project manager will often do which of the following? Select one: a. Continue to increase the intensity of the project to achieve the next milestone. b. Continue to follow the exact same project plan that helped the team achieve the milestone. c. Allow the team to reflect on finding new ways of approaching the project work. d. Select an upcoming key event and designate it as the next milestone. e. Stretch the goals of the project team, making them more tough and rigorous.

Description : After the celebration of the successful milestone completion, a project manager  will often do which of the following? Select one: a. Continue to increase the intensity of the project to achieve the ... milestone. e. Stretch the goals of the project team, making them more tough and rigorous.

Last Answer : c. Allow the team to reflect on finding new ways of approaching the project work.

Petri is working for Nokia in Finland. He has completed 10 months of his 12-month project, budgeted at $800,000. His earned value analysis shows that variance at completion is $75,000. What is the estimate at completion value for this project? Select one: a. 725,000 b. -725,000 c. -$875,000 d. $875,000 e. $800,000

Description : Petri is working for Nokia in Finland. He has completed 10 months of his 12-month project, budgeted at $800,000. His earned value analysis shows that variance at  completion is $75,000. What is the estimate at completion value ... : a. 725,000 b. -725,000 c. -$875,000 d. $875,000 e. $800,000

Last Answer : d. $875,000

When planning a systems project, overly optimistic timetables are the cause of project completion delays.

Description : When planning a systems project, overly optimistic timetables are the cause of project  completion delays.

Last Answer : Ans: True

A prerequisite of effective time management is: 1. Knowing the dictated project completion date 2. Having the most advanced software package for project planning, scheduling and control 3. Having a good project WBS which identifies the major project deliverables and tasks, and the person responsible for each of them 4. Having a well staffed scheduling department

Description : A prerequisite of effective time management is:  1. Knowing the dictated project completion date  2. Having the most advanced software package for project planning, scheduling and control  3. ... and the  person responsible for each of them  4. Having a well staffed scheduling department

Last Answer : 1. Knowing the dictated project completion date

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.

What is a project phase? A. A collection of logically related project activities that culminate in the completion of one or more deliverables (Ans.) B. A singular activity that completes a deliverable C. Consists of work that has very similar parts D. A consistent period of time that is used throughout a project

Description : What is a project phase? A. A collection of logically related project activities that culminate in the completion  of one or more deliverables (Ans.)  B. A singular activity that completes a ... that has very similar parts D. A consistent period of time that is used throughout a project

Last Answer : A. A collection of logically related project activities that culminate in the completion  of one or more deliverables (Ans.)

Each project phase is marked by completion of one or more:1. Tasks. 2. Milestones 3. Deliverables 4. Life cycles

Description : Each project phase is marked by completion of one or more: 1. Tasks.  2. Milestones  3. Deliverables  4. Life cycles

Last Answer : 3. Deliverables

In Project management when does planning take place? A.Before the projectB.During the project execution C.At the start of the project D.After the project

Description : In Project management when does planning take place?  A.Before the project B.During the project execution  C.At the start of the project  D.After the project

Last Answer : C.At the start of the project

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.

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

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

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

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

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

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

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