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

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
by

1 Answer

Answer :

(D) Analogy
by

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

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

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All of the following are true regarding the Qualitative Risk Analysis process except which one? A. Probability and impact and expert interview are used to help correct biases that occC. Qualitative Risk Analysis is an easy method of determining risk probability and impact that usually takes a good deal of time to perform. D. Risk urgency assessment is a tool and technique of this process used to determine which risks need near-term response plans.ur in the data you’ve gathered during this process. B. The probability and impact matrix is used during this process to assign red, yellow, and green conditions to risks.

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Algorithmic cost estimation in different organisations may be different for the same application development, because a) Different organisations consider complexity factors differently b) Different organisations may use different programming languages c) Developers’ skills may vary d) Techniques for the measurement of productivity may vary e) All of the above may be true.

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Last Answer : e) All of the above may be true.

What is a cash flow table in project management? A. A table portraying inflow of cash in a project B. A table portraying outgoing expenses of a project C. It is the tool that is used to study such cash flows by breaking inflows and outflows down, usually on a monthly basis D. A table portraying debts taken for a project

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Last Answer : C. It is the tool that is used to study such cash flows by breaking inflows and  outflows down, usually on a monthly basis

Which of the following is not a potential for a ranking problem between two mutua lly exclusive projects? A. The projects have unequal lives that differ by several years. B. The costs of the two projects differ by nearly 30%. C. The two projects have cash flow patterns that differ dramatically. D. One of the mutually exclusive projects involves replacement while the other involves expansion.

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Last Answer : A. The projects have unequal lives that differ by several years.

Which of the following is not a potential for a ranking problem between two mutua lly exclusive projects? A. The projects have unequal lives that differ by several years. B. The costs of the two projects differ by nearly 30%. C. The two projects have cash flow patterns that differ dramatically. D. One of the mutually exclusive projects involves replacement while the other involves expansion

Description : Which of the following is not a potential for a ranking problem between two mutua lly exclusive projects? A. The projects have unequal lives that differ by several years. B. The ... dramatically. D. One of the mutually exclusive projects involves replacement while the other involves expansion

Last Answer : A. The projects have unequal lives that differ by several years

Which of the following is not a potential for a ranking problem between two mutua lly exclusive projects? A. The projects have unequal lives that differ by several years B. The costs of the two projects differ by nearly 30%. C. The two projects have cash flow patterns that differ dramatically D. One of the mutually exclusive projects involves replacement while the other involves expansion

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Last Answer : A. The projects have unequal lives that differ by several years

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

)Which form of power is the LEAST effective from the project manager's viewpoint in terms of influencing functional managers? 1. Formal power 2. Expert power 3. Penalty power 4. Referent power

Description : )Which form of power is the LEAST effective from the project manager's viewpoint in terms of influencing functional managers? 1. Formal power  2. Expert power  3. Penalty power  4. Referent power

Last Answer : 3. Penalty power

Expert power is the power that comes from the amount of knowledge a person has obtained in a specific area. This type ofpower is: 1. Critical to a project manager because the PM has to have as much or more knowledge than any of the team members tomake sure the project is completed successfully 2. Used by the PM to influence upper management and the critical stakeholders 3. Important if the project manager wants to maintain the respect of the project team 4. Used sparingly if at all by the PM because the PM cannot stay current on all areas of expertise and also manage the project

Description : Expert power is the power that comes from the amount of knowledge a person has obtained in  a specific area. This type ofpower is: 1. Critical to a project manager because the PM has to have ... by the PM because the PM cannot stay current on all areas of  expertise and also manage the project

Last Answer : 4. Used sparingly if at all by the PM because the PM cannot stay current on all areas of  expertise and also manage the project

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

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

Last Answer : a. project management.

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

Comparative estimating uses: a. current data from similar projects. b. historic data from all projects. c. historic data from similar projects. d. current data from all projects.

Description : Comparative estimating uses: a. current data from similar projects. b. historic data from all projects. c. historic data from similar projects. d. current data from all projects.

Last Answer : c. historic data from similar projects.

Comparative estimating uses: a. current data from similar projects. b. historic data from all projects. c. historic data from similar projects. d. current data from all projects

Description : Comparative estimating uses:  a. current data from similar projects.  b. historic data from all projects.  c. historic data from similar projects.  d. current data from all projects

Last Answer : c. historic data from similar projects.

Configuration management is best described as: a. control in the implementation of changes to project schedules. b. an organization to review proposed changes to the project deliverables. c. quality control of project deliverables and documentation. d. creation, maintenance and controlled change of the project deliverables.

Description : Configuration management is best described as: a. control in the implementation of changes to project schedules. b. an organization to review proposed changes to the project deliverables ... and documentation. d. creation, maintenance and controlled change of the project deliverables.

Last Answer : d. creation, maintenance and controlled change of the project deliverables.

study focuses on answering the essential questions such as; should we proceed with the proposed project idea? What are the benefits and drawbacks of the proposed project idea?

Description : study focuses on answering the essential questions such as; should we proceed with the proposed project idea? What are the benefits and drawbacks of the proposed project  idea?

Last Answer : Ans. Pre-feasibility

Configuration management is best described as: a. control in the implementation of changes to project schedules. b. an organisation to review proposed changes to the project deliverables. c. quality control of project deliverables and documentation. d. creation, maintenance and controlled change of the project deliverables.

Description : Configuration management is best described as:  a. control in the implementation of changes to project schedules.  b. an organisation to review proposed changes to the project deliverables ... and documentation.  d. creation, maintenance and controlled change of the project deliverables.

Last Answer : d. creation, maintenance and controlled change of the project deliverables.

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.

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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.

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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

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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

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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.

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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

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Last Answer : d. Developing role clarification on projects

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

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.