What are the tools and techniques of the Quantitative Risk Analysis process?
A. Checklists, flowcharting, interviewing
B. Interviewing, sensitivity analysis, decision tree analysis, simulation
C. Checklists, sensitivity analysis, decision tree analysis, information-gathering techniques
D. Interviewing, checklists, assumptions analysis, risk probability impact
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The VP of customer service has expressed concern over a project you're involved in. His specific concern is that if the project is implemented as planned, he’ll have to purchase additional equipment to staff his customer service center. The cost is substantial and was not taken into consideration in the project budget. The project sponsor insists that the project must go forward as originally planned or the customer will suffer. Which of the following is true? A. The VP of customer service is correct. Since the cost was not taken into account at the beginning of the project, the project should not go forward as planned. Project initiation should he revisited to examine the project plan and determine how changes can be made to accommodate customer service. B. The conflict should be resolved in favor of the customer. C. The conflict should be resolved in favor of the project sponsor. D. The conflict should be resolved in favor of the VP of customer service.
A project is considered successful when: A. The product of the project has been manufactured. B. The project sponsor announces the completion of the project. C. The product of the project is turned over to the operations area to handle the ongoing aspects of the project. D. The project meets or exceeds the expectations of the stakeholders.
You are a project manager for Move It Now trucking company. Your company specializes in moving household goods across the city or across the country. Your project involves upgrading the nationwide computer network for the company. Your lead engineer has given you the following estimates for a critical path activity: 60 days most likely, 72 days pessimistic, 48 days optimistic. What is the standard deviation? A. 22 B. 20 C. 2 D. 4
Which of the following brings together a set of tools and techniques used to describe, organize, and monitor the work of project activities? A. Project managers B. Guide to the PMBOK C. Project management D. Stakeholders
The tools and techniques of the Source Selection process include all of the following except: A. Contract negotiation B. Correspondence C. Independent estimates D. Screening system
You’ve just accepted a new project management assignment. The project is for a customer in a foreign country. You've requested a business analyst and two other project team members from the country the customer resides in to participate on your team. The remaining team members are from your country. You know that the best way to ensure the project team doesn’t get bogged down in cultural differences and hold up project progress is to: A. Perform team-building exercises using videoconferencing to allow team members to get to know each other and get to the performing stage of team development as soon as possible. B. Provide diversity training for all the team members to make them aware of cultural differences and teach them to function effectively as a team despite these differences. C. Establish your role as project manager as the first order of business and require compliance to company policies. D. Require project team members to read and sign the organization’s diversity policy.
You are the project manager for Design Your Web Site, Inc. Your company is designing the website for a national grocery store chain. You have your activity list in hand and several time estimates and are ready to diagram the activity dependencies. You should use which of the following? A. PDM techniques B. PDM or ADM techniques C. AON techniques D. ADM techniques
What is one of the problems with project management software? A. The project manager manages the software instead of the project B. Project duration calculations are sometimes approximate. C. You cannot override the project management software decisions regarding schedules. D. It’s expensive and difficult to use.
You are a contract project manager for a wholesale flower distribution company. Your project is to develop a website for the company that allows retailers to place their flower orders online. You will also provide a separate link for individual purchases that are ordered, packaged, and mailed to the consumer directly from the grower's site. This project involves coordinating the parent company, growers, and distributors. You are preparing a performance review and have the following measurements at hand: PV = 300; AC = 200; and EV = 250. What do you know about this project? A. The EAC is a positive number, which means the project will finish under budget. B. You do not have enough information to calculate CPI. C. The CV is a negative number in this case, which means you've spent less than what you planned as of the measurement date. D. The CV is a positive number in this case, which means you're under budget as of the measurement date.
How does a project manager can avoid the above given ten points for the success of project.
Your project is in the Scope Definition process. You've just completed the WBS. Which of the following is true? A. The WBS breaks the project deliverables down to a level where alternatives identification can be used to determine how level two assignments should be made. B. The WBS breaks the project deliverables down to a level where project constraints and assumptions can be easily identified. C. The WBS breaks the project deliverables down to the work package level where product analysis can be documented. D. The WBS breaks the project deliverables down to the work package level where cost and time estimates can be easily determined and quality control measurements can be determined.
Your project involves the research and development of a new food additive. You’re ready to release the product to your customer when you discover that a minor reaction might occur in people with certain conditions. The reactions to date have been very minor, and no known long-lasting side effects have been noted. As project manager you should: A. Do nothing because the reactions are so minor that very few people will be affected. B. Inform the customer that you've discovered this condition and tell them you'll research it further to determine the impacts. C. Inform your customer that there is no problem with the additive release the product to them. D. Tell the customer you'll correct the reaction problems in the next batch but you'll release the first batch of product to them now to begin using.
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