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This is a power point Test Prep.

Each Question has one correct answer

Which of the following is NOT a Project Cost Management process?

Cost Estimating

Cost Control

Cost Budgeting

Resource Leveling ☺

Which of the following processes are included in the planning process?

Scope Definition, Project Plan Development, Quality Assurance, Cost Estimating

Scope Planning, Staff Acquisition, Stakeholder Identification, and Cost Estimating

Project Closure, Cost Estimating, Risk Management, Schedule Development, and Team Development

Scope Planning, Schedule Development, Project Plan Development, Risk Response Development ☺

A goal of portfolio management is:

Manage content of the project

Timely exclusion of projects not meeting the portfolio’s strategic objectives ☺

Leveling heuristics across the organization’s projects

Project cost leveling

Project Integration Management ensures:

The project is completed within schedule and budget

The proper scope has been identified for the project

All elements of the project are properly coordinated ☺

The project will satisfy all the stakeholders

Determining the method and timing of releasing team members, benefits both the project and: Best answer

Team Sponsor

Project Leader

Team Members ☺

Departing Team Member

Formal acceptance is an output of which of the following processes?

Scope definition

Scope planning

Scope verification ☺

Scope change control

Gantt charts help determine?

A task’s starting and stopping point ☺

Accountability matrix

Decomposition

Amount of effort it takes to complete a task

Providing for reimbursement of allowable costs, plus a fixed fee paid proportionately as the contract progresses is defined as:

Cost Plus Percentage of Cost (CPPC)

Cost Plus Fixed Fee (CPFF) ☺

Contract Evaluation

Cost Plus Incentive Fee (CPIF)

Which of the following response is not a Strategy for Both Threats and Opportunity Acceptance?

Can be either passive or active

May be adopted for either threats or opportunities

A strategy that is adopted because it is seldom possible to eliminate all risk from

Project scope statement ☺

A ____ is a structured, independent review to determine whether project activities comply with organizational policies and procedures.

Quality Audit ☺

Quality Metrics

Quality Analysis

Quality Planning

Constraints that can limit flexibility in the Human Resources Planning process are all of the following, except:

Organizational Structure

Resource Availability ☺

Economic Conditions

Collective Bargaining Agreements

Who should contribute to the development of the project plan?

The entire project team ☺

The project coordinator

The planning department

The senior management

A lump-sum contract under which the seller furnishes goods or services at a fixed price is:

Cost Plus Incentive Fee (CPIF)

Contract Initiation

Firm Fixed Price (FFP) ☺

Fixed Price Incentive Fee (FPIF)

Cost _____ is a time-phased budget that is used to measure, monitor and control overall cost performance on the project.

Baseline ☺

Aggregation

Performance

Management

Of the following, which is not true about bottom-up estimating?

Its accuracy increases if the activities are smaller

The WBS must be accurate and complete before this process can be used

It is not a useful methodology in the early phases using project planning processes

The cost is largely independent of the desired accuracy, so it is the methodology of choice ☺

What is a PMIS?

Performance Measurement Independent System

Project Matrix Informal System

Project Management Information System ☺

Project Management Inter-related system

Policies and procedures that protect team members from safety hazards are included in the staff management plan and:

Organizational Chart

Resource Breakdown Structure

Risk Register ☺

Position Descriptions

Which of the following is not a use of the Work Breakdown Structure?

Configuration Management

Focusing attention on the project objectives ☺

Funding

Integrated logistic support

Why should constructive changes be uniquely identified and documented by project correspondence?

Changes may be disputed by one party and lead to a claim against the other party ☺

Changes can include direction provided by the buyer

Changes should never be documented

Changes are processed for review and approval through Integrated Change Control process

_____ are factors that can limit the project management team’s options.

Logistics

Methodologies

Constraints ☺

Assumptions

Which of the terms below is not a stage of contract negotiation?

Closure

Weighting system ☺

Probing

Scratch bargaining

What is the responsibility of the sender in the communications process? Best Answer

Ensuring the right person gets the right information

Making sure that the information is received in its entirety and understood correctly

Making the information clear and complete so the receiver can receive it correctly and confirming that it is properly understood ☺

Manage stakeholder requirements

The degree to which a set of inherent characteristics fulfills requirements is know as:

Quality ☺

Grade

Performance

Scope

An output of Risk Identification is:

Plan for mitigation

Corrective actions

A risk register ☺

Expected monetary value of the risk events

Which of the following is not a scenario considered in a Three-point estimate?

Optimistic

Most likely

Analogous ☺

Pessimistic

The Resource Breakdown Structure (RBS) is a _____ of identified resources by resource category and resource type.

Activity Attribute

Requested Change

Activity Resource Requirement

Hierarchical Structure ☺

A statistical method that may identify factors which influence specific variables of a product or process under development or in production is known as:

Cost-Benefit Analysis

Benchmarking

Design of Experiments ☺

Cost of Quality

What are the five processes of project management?

Initiating, Planning, Executing, Controlling, Closing ☺

Concept, Planning, Development, Execution, Termination

Planning, Verifying, Development, Controlling, Termination

Initiating, Planning, Facilitating, Executing, Closing

A bar chart illustrating the number of hours that a person is needed each week or month over the course of the project is called?

Gantt Chart

Staffing Management Plan

Histogram ☺

Responsibility Assignment Matrix

Activities such as measuring, examining and verifying describe which of the following?

Flow chart legend

Project risk management

Activity duration estimating

Inspection ☺

Which of the following is not an advantage of centralized contracting?

More economical

Easier to control overall contracting efforts

Less attention to the special needs of individual projects ☺

Orders can be consolidated across several projects

What is Activity Resource Estimating?

Estimating the type and quantities of resources required to perform each scheduled activity ☺

Controlling changes to the project schedule Analyzing activity sequences, durations,

resource requirements, and schedule constraints to create the project schedule

Identifying and documenting dependencies among scheduled activities

A _____ is a component that does not meet its requirements or specifications, and needs to be repaired or replaced.

Corrective Action

Preventive Action

Defect ☺

Change

Changes to the Information Distribution process should trigger changes to project management plan and the _____ management plan.

Human Resources

Quality

Communications ☺

Risk

Cost budgeting is the process of allocating:

The project budget to the various identified work activities in order to establish a basis for the project contingency reserve

The overall cost estimate to individual work activities to establish the basis for the project contingency reserve

The overall cost estimate to individual work activities to establish a cost baseline for measuring project performance ☺

The project budget to the various identified work activities in order to establish a basis for the project estimate

Which of the following is not true concerning project stakeholders? Best answer

They may actively support the project ☺

They may exert influence over the projects objectives and outcomes

They are actively involved in the project

Their interest may be affected by the projects execution or completions

Which Human Resources Management process addresses coordinating change?

Human Resource Planning

Acquire Project Team

Manage Project Team ☺

Develop Project Team

A numbering system used to uniquely identify each component of the work breakdown structure is the:

Project Code

Chart of Accounts

Error Code

Code of Accounts ☺

Of the following, which is not a theme or issue within Project Procurement Management?

Delphi Technique ☺

Contract Administration

Procurement Planning

Solicitation Planning

Which involves choosing part of a population of interest for inspection?

Pareto Chart

Run Chart

Scatter Diagram

Statistical Sampling ☺

Which of the following is not a tools and techniques of Information Delivery?

Communication skills

Requested changes ☺

Information distribution method

Lessons learned process

Parametric estimating is most reliable when all of the following occur except:

The model works for large projects as well as small projects

The historical data used to develop the model is accurate

Estimates are predictions of conditions in the project’s future are forecasted ☺

The parameters of the project life cycle are readily quantifiable

What defines when and how often the risk management process will be performed throughout the project life cycle, and establishes risk management activities to be included in the project schedule?

Risk Management

Budgeting

Timing ☺

Definitions of risk probability and impact

Overall project duration is calculated as an output of the _____.

Schedule Development Process ☺

Activity Cost Estimates

Organizational Process

Enterprise Environmental Factors

The Project Quality Management process includes all of the following except:

Quality Planning

Quality Assurance

Quality Control

Quality Variance ☺

What is Information Distribution?

Collecting and distributing performance information

Making needed information available to project stakeholders in a timely manner ☺

Determining the information and communications needs of the project stakeholder

Managing communications to satisfy the requirements of and resolve issues with project stakeholders

Cost _____ are generally expressed in units of currency.

Budgets

Variances

Estimates ☺

Controls

To have a successful project, the team must do all of the following except:

Select process within the Project Management Process Groups which require meeting the project objectives

Apply the processes of the Project Management Process Group which requires meeting the project objectives ☺

Balance time, scope, cost, quality, resources Meet stakeholder needs, wants and

expectations

Matrix-based charts are used to illustrate the connections between work that needs done and:

Stakeholders

Work Breakdown Structure

Responsibilities

Team Members ☺

The sum of the products, services, and results to be provided as a project is:

Planned Value

The Scope ☺

S-Curve

Schedule Variance

Which of the terms is generally used when the seller’s selection decision will be based on price (as when buying commercial or standard items):

Technical Approach

Proposal

Tender ☺

Technical Skills

Identification, response development, assessment and documentation are major processes of risk management. Which of the responses listed below is not a major process?

The project’s change control system ☺

Planning, Identification, Documentation, and Assessment

Identification, Planning, Evaluation, Response Development, Mitigation, and Documentation

Planning, Identification, Qualitative Analysis, Response Planning, and Monitoring and Control

A thorough review of the _____ will help identify potential project risks.

Project’s mission statement

Project’s budget

Project’s change control system

Risk identification checklists ☺

Resource calendars are known inputs under which two time management processes?

Activity Sequencing and Scheduled Development

Activity Duration Estimating and Scheduled Development ☺

Activity Resource Estimating and Scheduled Development

Activity Sequencing and Scheduled Development

Process Analysis examines all of the following except:

Problems Experienced

Constraints Experienced

Work Performance ☺

Non-Value-Added Activities

A specific type of histogram, ordered by frequency of occurrence, which shows the number of defects generated by category or identified cause is known as a:

Flowchart

Scatter Diagram

Pareto Chart ☺

Run Chart

Which of the following is not an input of Communication Planning?

Project management plan

Communications management plan ☺

Project scope statement

Enterprise environmental factors

_____ information on the completion status of the deliverables and what has been accomplished is collected as part of the project execution, and is fed in the Performance Reporting process.

Performance measurement

Change request

Work performance ☺

Quality control

Cost variance is computed as:

Actual cost – planned value

Planned value – actual cost

Actual cost – earned value

Earned value – actual cost ☺

Identifying relevant quality standards and how to address them should occur in which phase?

Planning process phase ☺

Quality control phase

Risk phase

Project Life Cycle phase

Identifying relevant quality standards and how to address them should occur in which phase?

Planning process phase ☺

Quality control phase

Risk phase

Project Life Cycle phase

The Staffing Management Plan is an output of which Human Resource Management process?

Develop Project Team

Acquire Project Team

Human Resource Planning ☺

Manage Project Team

Scope Definition involves:

Developing a scope management plan

Developing a detailed project scope statement as the basis for future decisions on the project ☺

Controlling the project scope

Formalizing acceptance of the project deliverables

Indirect costs are:

Also known as risk management (contingency) cost

Cost not arising out of the performance of work on the project ☺

Project costs that were not specifically accounted for in the project budget

Costs other than the salary of project team members such as sick and vacation leave

A project is:

An ongoing activity undertaken to meet a market requirement

A set of activities preformed in a system

A temporary activity to create a unique product result or service ☺

Linked by the results they produce

The following formats exist to document team member roles and responsibilities, except:

Text Oriented Format

Matrix Responsibility Chart

Hierarchical-type Organization Chart

Work Breakdown Structure ☺

Scope Definition involves:

Developing a detailed project scope statement as the basis for future decisions on the project ☺

Controlling the project scope

Formalizing acceptance of the project deliverables

Developing a scope management plan

Enterprise environmental factors are one input of plan, purchases and acquisitions. Which of the following is not an input?

Project Time Management ☺

WBS Dictionary

Project Scope Statement

Organizational Process Assets

Which of the following is not true about risk identification?

It is an interactive process

It determines which risks might affect the project and documents their characteristics

It describes the content and format of the risk register ☺

All project personnel should be encouraged to identify risks

Which of the following is a risk monitoring and control tool and technique?

Exploit

Risk Register

Prioritized list of quantified risks

Reserve Analysis ☺

Project Time Management includes the processes required to:

Control changes to the project schedule

Accomplish the timely completion of the project ☺

Estimate the number of work periods

Schedule Activities

Monitoring specific project results to determine relevance to quality standards is known as:

Quality Variance

Quality Assurance

Quality Control ☺

Quality Planning

Which is not part of the Project Communications Management process?

Cost of Quality ☺

Information Distribution

Performance Reporting

Manage Stakeholders

Influencing the factors that create cost variances and control changes to the project budget is defined as:

Cost Budgeting

Cost Benefit

Cost Control ☺

Cost Variance

Of the following, which is not related to cost recognition?

The point in time when costs are charged to the project

The allocation of contractor earned bonuses to project costs

The way in which performance incentives are integrated into project costs

The point in time when costs are budgeted to the various activities ☺

What is the use and purpose of project planning methodology?

Maximize the value of the project phases

Any structured approach to help prepare the project plan ☺

Project phases within a project cycle

Implementation of and inclusion of the portfolio

What are the two major types of evaluation?

Change process and status reports

Work satisfaction and midpoint evaluation

Midproject and final evaluation ☺

Customer satisfaction and survey

A subset of the project team responsible for activities such as planning, controlling, and closing is known as:

Stakeholders

Staffing Management Team

Sponsor(s)

Project Management Team ☺

The _____ shows the time periods that team members are expected to work on the project, along with information such as training plans, certification requirements, and compliance issues.

Project Management Plan

Staffing Management Plan ☺

Resource Histogram

Gantt Chart

Which of the following are outputs of the Scope Change Control process?

Corrective action and schedule updates

Scope changes and formal acceptance

Scope changes, corrective action, and lessons learned ☺

Lessons learned and scope definition

Milestone charts primarily are used to:

Show significant events in the project ☺

Show the start and stop of a task

Show the critical path

Demonstrate constraints

What is the primary concern of a procurement audit?

Maintaining the project

A numbering system

Work Breakdown Structure

Identifying successes and failures that warrant recognition ☺

Which of the following is a constructive change?

Viewing as negative, quantified and tabulated

Postponing as long as possible to protect the budget

Identifying and documenting project correspondence ☺

Submitting bids to relevant vendor list

The Delphi Technique is a way to reach consensus. Which of the statements listed below is a characteristic of the Delphi Technique?

Does not help to reduce bias in the data

Project risk experts participate anonymously ☺

Consensus may be reached in many rounds of this process

Ensures that one person may have a greater influence on the outcome

Constructing a project schedule network diagram that uses nodes to represent activities and connect them with arrows that show dependencies is known as:

Gantt Chart

Arrow Diagramming Method

Precedence Diagramming Method ☺

Work Breakdown Structure

The project management team determines the dependencies that may require a _____ to accurately define the logical relationship.

Mandatory or External

Discretionary or External

Discretionary or Mandatory

Lead or Lag ☺

Of the following, which is not a benefit of meeting quality requirements?

Increased Costs ☺

High Productivity

Increased Stakeholder Satisfaction

Less Rework

The quality _____ records the quality objectives of the project.

Checklists

Metrics

Measurements

Baseline ☺

A flowchart is a graphical representation of a process which shows:

Various factors linked to potential problems

Activities, decision points and the order of processing ☺

Predictable performance

Whether a process is stable

Which of the following is not an output of Performance Reporting?

Resolved Issues ☺

Performance Reports

Forecasts

Requested Changes

All of the following resources are included in activity cost estimating, except:

Information Technology

Time Shortages ☺

Facilities

Materials

The cost management plan:

Is a formal document integrated into the overall project management plan

Should be highly detailed and describe how all cost variances are to be managed

May be omitted if the integrated change management plan is sufficiently detailed ☺

Is a tool that is used to adjust cost estimated to reflect the realities of the project budget

Communication skills are related to, but are not the same as _____.

Information distribution

Communication planning

Project management communications ☺

Performance reporting

Which of the following is not an input to cost budgeting?

Project Schedule

Risk Management Plan

Cost Variances ☺

Work Breakdown Structure

In estimating the total of material resources required for a project, you must first estimate the amount of waste to be expected. You will most likely find this information in which process?

Supporting detail

Parametric modeling

Resource requirements

Historical information ☺

The set of processes required to ensure the various elements of the project that are coordinated are called:

Project Charter Management

Project Quality Control Management

Project Integration Management ☺

Project Communications Management

Organization recognition dinners, certificates of appreciation, newsletters, bulletin boards, Web sites, and other organizational perquisites should be available to the _____ as part of the process.

Staffing Management Team

Sponsor (s)

Project Management Team ☺

Stakeholders

If project team members do not possess required competencies, performance can be jeopardized. When should competencies first be addressed? Best answer

When Acquiring Project Team

When defining Roles and Responsibilities ☺

In the Project Management Plan

In the Staffing Management Plan

What ensures that all work within the project is identified and defined within a common framework?

Project Plan

Risk Analysis

Work Breakdown Structure ☺

Cost/Benefit Analysis

Make-or-Buy Analysis should consider which of the following?

Foreign Currency Exchange

EV minus PV

Project team directory

Direct and Indirect costs of a prospective procurement ☺

Congratulations Q&A Completed

In the pursuit of learning, every day something is acquired.

Lao Tzu