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Comparative methods, scoring methods, and economic and cash flow analysis are all part of which of the following?
A. Benefit measurement methods, which are a tool and technique in Initiation
B. Constrained optimization methods, which are a tool and technique
C. Benefit measurement methods, which are an input to Initiation
D. Decision models, which are an output of Initiation
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You are preparing a cash flow analysis for a project the company is considering undertaking. The project's cost is $525,000, and expected cash inflows are $125,000 the first year and then $75,000 per quarter the second year and $100,000 per quarter after that. What is the payback period? A. 16 months B. 27 months C. 32 months D. 28 months
You are the project manger for Xylophone Phonics. They produce children's software programs that teach basic reading and math skills. You're performing cost estimates for your project and don't have a lot of details yet. You will use which of the following techniques? A. Analogous estimating techniques, because this is a form of expert judgment that uses historical information from similar projects B. Bottom-up estimating techniques because this is a form of expert judgment that uses historical information from similar projects C. Monte Carlo Analysis, because this is a modeling technique that uses simulation to determine estimates D. Parametric modeling, because this is a form of simulation used to determine estimates
What is the key activity during Contract Closeout and Administrative Closure? A. Documenting lessons learned B. Creating project archives C. Disseminating information to formalize project closure D. Documenting project closure
What type of organization experiences the least amount of stress during project closeout? A. Projectized B. Functional C. Weak matrix D. Strong matrix
PERT is: A. The longest path B. A weighted average technique C. A simulation technique D. Widely used in practice to determine schedule durations
You are the project manager for Fun Days vacation packages. Your new project assignment is to head up the Fun Days resort opening in Austin, Texas. You are estimating the duration of the project plan activities, devising the project schedule, and monitoring and controlling deviations from the schedule. Which of the Project Management Knowledge Areas are you working in? A. Project Scope B. Project Quality C. Project Integration D. Project Time
You are going to lake some performance measurements for your current project. You know that PV = 450, AC = 500, and EV= 375. What is the CPI and SPI respectively? A. CPI = .90, and SPI = 1.2. B. CPI = .75, and SPI = .83. C. CPI = 1.2, and SPI = .90. D. CPI = .83, and SPI = .75.
You are the project manager for an outdoor concert event scheduled for 1 year from today. You're working on the procurement plan for the computer software program that will control the lighting and screen projections during the concert. You've decided to contract with a professional services company that specializes in writing custom software programs. You want to minimize the risk to the organization, so you'll option for which contract type? A. Fixed price plus incentive B. Cost plus fixed fee C. Fixed price D. Cost plus incentive
As project manager, you know that all of the following are true concerning analogous estimating techniques except: A. It's a qualitatively based estimating technique. B. It's a top-down estimating technique. C. It's a tool and technique of Activity Duration Estimating and Cost Estimating. D. It’s a form of expert judgment.
You are a project manager for Waterways Houseboats, Inc. You have been asked to perform a benefit/cost analysis for two proposed projects. Project A costs $2.4 million with potential benefits of $12 million and future operating cost of $3 million. Project B costs $2.8 million with potential benefits of $14 million and future operating costs of $2 million. Which project should you recommend? A. Project A because the cost to implement is cheaper than Project B B. Project A because the potential benefits plus the future operating costs are less in value than the same calculation for Project B C. Project B because the potential benefits minus the implementation and future operating costs are greater in value than the same calculation for Project A D. Project B because the potential benefits minus the costs to implement are greater in value than the same calculation for Project A
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
You are the project manager for a top-secret software project for an agency of the United States Government. Your mission, should you choose to accept it, is to complete the project using internal resources. The reason is because getting top secret clearances for contractors takes quite a bit of time and waiting for clearances would jeopardize the implementation date. Your programmers are 80 percent of the way through the programming and testing work when your agency appoints a new executive director. Slowly but surely your programmers are taken off this project and reassigned to the executive director's hot new project. Which of the following type of project ending is this? A. Starvation B. Extinction C. Addition D. Integration
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