1. “Unknown unknowns” are unexpected events which can occur when the project is underway. All of the following accurately describe an implication associated with unknown unknowns EXCEPT: A. They are usually discovered during risk identification
2. A ________ presents a hierarchical organization of risks based on categories such as operational, strategic, finance, external, and project management. A. Risk Breakdown Structure (RBS)
3. A ________ presents a hierarchical organization of risks based on categories such as operational, strategic, finance, external, and project management. A. Risk Breakdown Structure (RBS)
4. A contingency reserve is money assigned to the project and allocated for identified risks for which contingent responses are developed. A. True
5. A contract is a unilateral, binding document that obligates the seller to furnish supplies or services to the buyer. A. False
6. A description of the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products, services or results is known as: A. the procurement statement of work
7.A high level view of processes and stakeholders, that starts with suppliers and ends with customers, is sometimes referred to as a “Plan-Do-Check-Act” (PDCA) model. A. false
8. A method for documenting and sharing lessons must be established in order for an organization to capitalize on lessons learned. A. True
9. A milestone is a typical measuring point used when establishing cost control. Which of the following does NOT accurately describes the use of cost control milestones? A. Milestones are developed during risk planning.
10. A project manager needs to ensure that the cumulative amount of cash coming into the project either from internal budgeting or from customer payments meets or exceeds the demands for paying cash out. A. True
12. A project risk is anything that may impact the project team’s ability to achieve the general project success measures and the specific project stakeholders’ priorities. A. True
13. A project team attempting to close a project should review all of the following documents to ensure that everything promised was delivered EXCEPT: A. the stakeholder register
14. A project team attempting to close a project should review all of the following documents to ensure that everything promised was delivered EXCEPT: A. the stakeholder register
15. A project team attempting to close a project should review which of the following to ensure the customers are satisfied with the project work? A. the customer feedback and scope verification
16. A project team attempting to close a project should review which of the following to ensure the customers are satisfied with the project work? A. the customer feedback and scope verification
17. A quality audit is a project management and quality tool that is a structured process to ensure project activities comply with organizational policies. A. True
18. A risk management plan should define who has responsibility for causing each risk and hold the responsible party directly accountable for developing an appropriate solution. A. False
19. A traditional buyer-seller relationship is defined as “a long-term relationship between an owner and a contractor in which the contractor acts as a part of the owner’s organization for certain functions.” A. False
20. Activity based costing allocates overhead (indirect costs) to fixed costs based upon four different types of drivers. Which of the following is one of the cost drivers that serves as a basis of cost allocation? A. number of units produced
21. After completing detailed planning for a project, it is often helpful for the project manager and team to apply a sanity test to the project plan. Which of the following accurately describes the application of a sanity test? A. It should include questions to ensure budgets, schedules and resource plans are reasonable and achievable.
22. All of the following accurately apply to project performance reporting EXCEPT: A. The same report format should be used for all stakeholders
23. All of the following accurately describe earned value management EXCEPT: A. It is good for performance reporting but not for forecasting
24. All of the following accurately describe the features and characteristics of a contract EXCEPT: A. The project organization is always a buyer in a contract arrangement
25. All of the following activities are appropriate upon completion of risk response planning EXCEPT: A. The risk register should be baselined after planning is completed, and should not be updated once the project is in flight.
26. All of the following activities are appropriate upon completion of risk response planning EXCEPT: A. The risk register should be baselined after planning is completed, and should not be updated once the project is in flight.
27. All of the following activities illustrate a risk response strategy designed to exploit an opportunity EXCEPT: A. purchase insurance
28. All of the following are among the classic risk response strategies EXCEPT: A. share a threat
29. All of the following are among the classic risk response strategies EXCEPT: A. share a threat
30. All of the following are benefits that can be attributed to the effective use of a risk management plan EXCEPT: A. It enables the project manager to identify and eliminate all risks
31. All of the following are benefits that can be attributed to the effective use of a risk management plan EXCEPT: A. It enables the project manager to identify and eliminate all risks
32. All of the following criteria can be used to categorize project risks EXCEPT: A. whether the risk is a known known
33. All of the following criteria can be used to categorize project risks EXCEPT: A. whether the risk is a known known
34. All of the following describe an appropriate application of Plan Risk Responses in project management EXCEPT: A. Responses should be created for every identified project risk, regardless of the risk score.
35. All of the following describe an appropriate application of Plan Risk Responses in project management EXCEPT: A. Responses should be created for every identified project risk, regardless of the risk score.
36. All of the following describe benefits associated with celebrating the completion of a project EXCEPT: A. Celebrations are held in conjunction with team performance reviews
37. All of the following describe benefits associated with celebrating the completion of a project EXCEPT: A. Celebrations are held in conjunction with team performance reviews
38. All of the following describe the appropriate application of Perform Quantitative Risk Analysis in project management EXCEPT: A. Brainstorming techniques are used by the team and other stakeholders to identify as many project risks as possible.
39. All of the following describe the appropriate application of Perform Quantitative Risk Analysis in project management EXCEPT: A. Brainstorming techniques are used by the team and other stakeholders to identify as many project risks as possible.
40. All of the following entities are typically included in the supply chain EXCEPT: A. public relations
41. All of the following factors are commonly used to assess potential suppliers pursuant to a source selection decision EXCEPT: A. personal relationships with senior management
42. All of the following factors must be in place in order to develop an analogous estimate effectively EXCEPT: A. An organization must know details behind the time value of money.
43. All of the following factors must be in place in order to develop an analogous estimate effectively EXCEPT: A. An organization must know details behind the time value of money.
44. All of the following items are among the key areas covered by the Malcolm Baldrige National Quality Award EXCEPT: A. Team Learning
45. All of the following items are generally considered when selecting the right type of contract EXCEPT: A. project organization’s accounting system
46. All of the following items are valid reasons to conduct a project kick-off meeting EXCEPT: A. to emphasize that all decisions will be made exclusively by the project manager
47. All of the following items contribute to developing empowered performance in an organization EXCEPT: A. accepting the fact that the project manager has total decision making authority
48. All of the following items describe an aspect of life cycle costing EXCEPT: A. Life cycle cost only includes the project cost from initiating through closing
49. All of the following methods have proven to be useful techniques to help project teams identify the risks that might impact the project EXCEPT: A. documenting lessons learned
50. All of the following methods have proven to be useful techniques to help project teams identify the risks that might impact the project EXCEPT: A. documenting lessons learned
51. All of the following practices have proven effective for managing lessons learned in an organization EXCEPT: A. documenting all lessons learned only at the end of the project.
52. All of the following practices have proven effective for managing lessons learned in an organization EXCEPT: A. documenting all lessons learned only at the end of the project.
53. All of the following reasons might lead to a contract termination for default EXCEPT: A. changing customer priorities
54. All of the following reasons might lead to a contract termination for default EXCEPT: A. changing customer priorities
55. All of the following statements accurately describe special cause variation EXCEPT: A. It is inherent in the system and is predictable.
56. All of the following statements accurately describe supply chain management EXCEPT: A. It is a closed-loop system solely within the project organization’s boundaries
57. All of these are factors that could lead to a decision to buy or outsource rather than make or perform in-house, EXCEPT: A. More control over quality and time
58. All of these describe contemporary methods of risk prioritization in project management EXCEPT: A. Results of quantitative risk analysis are used for clarification purposes and are typically not documented in the risk register.
59. All of these describe contemporary methods of risk prioritization in project management EXCEPT: A. Results of quantitative risk analysis are used for clarification purposes and are typically not documented in the risk register.
60. Among the disadvantages associated with outsourcing is the gradual loss of special skills for doing some specific activities that have been outsourced. A. True
61. Analogous estimating is the most detailed, time consuming and accurate way to estimate. A. False
62. Any of the following attributes can serve as a useful factor for coding lessons learned EXCEPT: A. lessons learned owner
63. Any of the following attributes can serve as a useful factor for coding lessons learned EXCEPT: A. lessons learned owner
64. Both normal and special cause variation add to project cost and need to be considered by project managers. A. True
65. Buying from an outside supplier to meet project needs is a practice that is rarely used, because it invariably proves to be more expensive than doing the work with resources internal to the organization. A. False
66. Celebrations of success ease the stress of working hard for a prolonged period of time trying to accomplish a project A. True
67. Change control is a process wherein change proposals to various project planning elements are: A. acknowledged, formally documented, and either approved or declined after review.
68. Closure of a project generally entails all of the following activities EXCEPT: A. updating the project management plan
69. Closure of a project generally entails all of the following activities EXCEPT: A. updating the project management plan
70. Complex projects such as research and development for new products often employ rolling wave planning to estimate costs. Which of the following best describes “rolling wave” planning? A. Project managers render a definitive estimate for the first stage and an order of magnitude estimate for the remainder of the project.
71. Complex projects such as research and development for new products often employ rolling wave planning to estimate costs. Which of the following best describes “rolling wave” planning? A. Project managers render a definitive estimate for the first stage and an order of magnitude estimate for the remainder of the project.
72. Consider the excerpt of the Internet Project risk register presented in Figure 10-1. Which of the following risk events should receive the highest priority for the development of risk responses? A. IS resources are spread too thin
73. Consider the project performance report presented in figure 14.1. What valid conclusion can you draw regarding the project schedule performance as of October 31, 20XX? A. The project is $26,000 behind schedule.
74. Consider the project performance report presented in figure 14.1. What valid conclusion can you draw regarding the project cost performance as of October 31, 20XX? A. The project is $8,000 over budget.
75. Consider the project performance report presented in figure 14.1. Your analyst has determined that your estimate to complete (ETC) is $226,000. Based on your performance to date and assuming future performance will proceed at the same level of efficiency as past performance, what is your estimate at completion (EAC)? A. $550,000
76. Consider the project performance report presented in figure 14.1. As a project manager, these results should lead you to… A. take actions to understand and remedy the schedule performance on the active avionics work packages.
77. Consider the time-phased budget presented in Figure 9-1. What is the cumulative project budget through the end of April? A. $46,000
78. construct a prototype to learn more about a candidate solution A. purchase insurance
79. Contract incentives are often used when the buyer wants the seller to meet some defined project metrics, such as finishing the project early, providing a higher level of quality or more features, or anything else that the buyer wants to maximize and is willing to pay for. A. True
80. Control quality is the forward-looking process of using and improving the quality plan and policy to perform tasks that will most likely lead to creating project outputs to customers’ satisfaction. A. False
81. Cost estimating is linked very closely with scope, schedule and resource planning. A. True
82. Costs that repeat as project work continues such as the cost of writing code or laying bricks are appropriately classified as: A. recurring costs
83. Crosby, a well known quality management thought leader, asserts that quality is meeting requirements, not exceeding them A. true
84. Direct costs typically include the cost of direct labor as well as other direct costs for items such as material, travel, subcontracts and computer time. A. True
85. DMAIC is a disciplined process that includes five phases: Define, Measure, Analyze, Improve and Control. DMAIC is most typically associated with which of the following quality improvement approaches? A. Six Sigma
86. DMAIC is typically used as a method of implementing continuous improvement and can thus be practiced repeatedly. A. True
87. During procurement planning, the project team determines which needs can best be met by acquiring products and services from an outside provider, and which can be accomplished by the team. A. True
88. During schedule and cost control, when comparing performance to the schedule and cost baselines, if schedule or budget has changed these changes should be A. formally recommended and managed through the integrated change control system
89. During which DMAIC phase would you find the objectives of: identify possible root causes, collect data, and confirm root causes through data analysis? A. Analyze
90. Early in a project when very little detail is known about a project, it is impractical to render even a rough estimate of the final project cost. A. False
91. Early termination can be either for default or for the convenience of the seller. A. False
92. Earned Value (EV) is the approved value of the work to be completed in a given time. A. False
93. Estimate Cost is the process of developing an approximation of the monetary resources needed to complete project activities. A. True
94. Evaluations of prospective suppliers by project teams often involve all of the following approaches EXCEPT: A. prototyping
95. Events discovered during Identify Risks that may or may not occur are often categorized as: A. known unknowns
96. Events discovered during Identify Risks that may or may not occur are often categorized as: A. known unknowns
97. Extensive supplier evaluation approaches such as surveys, facility visits and financial analysis should be applied to first-tier suppliers only. A. False
98. Fact-based management includes four key ideas. Which of the following is among the key ideas associated with fact-based management? A. understanding variation
99. Fixed costs remain the same regardless of the size or volume of work, while variable costs vary directly with volume of use. A. True
100. Fixed price contracts provide low risk for the seller, since the buyer will pay a fixed price, regardless of how much the project actually costs the seller. A. False
101. For risk events outside project control, resolution strategies include working with clients to reprioritize cost, schedule, scope or quality and carefully escalate problems. A. False
102. Generally, parametric estimating requires less information and time than analogous estimating. A. False
103. Helping good workers to secure good follow-on work is one of the most important things a project manager must do near the end of the project. A. True
104. If necessary, the quality policy on a specific project may violate either the quality policies of the parent organization or of a major customer. A. false
105. In a control chart, a point that occurs above the upper control limit typically means that some sort of special cause is creating the variation and requires a specific intervention. A. True
106. In Agile projects early risk planning, assessment and response planning is done at a high level, and more detailed and timely risk management occurs during the planning of each subsequent iteration, in daily stand-up meetings, and in retrospectives at the end of each iteration. A. True
107. In many cases, the proposal prepared by the vendor becomes a part of the final contract. A. True
108. In order to determine that a project is progressing adequately, a project manager could use a balanced scorecard approach to evaluate the organization along supplier, external business, risk and human resource perspectives. A. False
109. In some cases, project teams will elect to reduce a threat to a level that a sponsor and other stakeholders deem acceptable, rather than eliminate it completely A. True
110. In which of the following tools would a normal or bell-shaped curve be expected if no special conditions are occurring? A. cause and effect diagram
111. Inflating the value of future revenue and cost streams to account for the time value of money enables better project decisions. A. False
112. Information is a key ingredient at each stage of the project supply chain, as well as within each phase of supply chain decision making. A. True
113. Joseph Juran provided guidance regarding how to conduct quality planning, quality control, and quality improvement. Which of the following items is NOT part of Juran’s Quality Trilogy? A. work to identify root causes, not just symptoms
114. Joseph Juran provided guidance regarding how to control quality. Which of the following items is consistent with his quality control guidance? A. establish measurement systems
115. Just as total quality dramatically changed general management in the 1990s, agile is dramatically changing project management in the 2010s. A. True
116. Lessons learned can include significant project successes. A. True
117. Logistics is the work required to move and position inventory throughout a supply chain. A. True
118. Many organizations require the completion of a project close-out report upon completion of a project. These reports typically include which of the following? A. a review of the project’s original justification
119. Many organizations require the completion of a project close-out report upon completion of a project. These reports typically include which of the following? A. a review of the project’s original justification
120. Many organizations use project closeout checklists that itemize typical project activities and/or deliverables. These can be used to assign responsibility to each item concerning project closeout. A. True
121. Monitoring and controlling project work refers to the processes of tracking, reviewing and reporting progress to meet the performance objectives defined in the project plan. A. True
122. More organizations effectively collect lessons learned than effectively disseminate and use them. A. True
123. Most projects will employ bottom-up estimating at some point to serve as a basis for estimating cash flow needs and for controlling the project. A. True
124. Normal or random variations that are considered part of operating the system at its current capability are ______: A. common cause variations.
125. Often a project team will start the selection process by establishing a list of potential suppliers. All of the following information sources are frequently used to identify these potential suppliers EXCEPT: A. stakeholder register
126. On agile projects, because communication is frequent and rapid, a directional indicator showing that things are getting better or worse in some manner is more valuable than a more detailed and polished report. A. False
127. On agile projects, detailed risk management activities may occur during all of the following times EXCEPT: A. During early risk planning at the start of the project.
128. On agile projects, detailed risk management activities may occur during all of the following times EXCEPT: A. During early risk planning at the start of the project.
129. On agile projects, project managers may use rolling wave planning to estimate costs. A. True
130. On complex projects, despite the importance of factors such as technical capability, managerial capability and previous experience; the selection decision is made mostly or entirely on price. A. False
131. On long projects it is often better to capture lessons frequently since people may not remember clearly what happened several months previously. A. True
132. On small projects, the cost management plan may be as simple as ensuring accurate estimates are made, securing the funding, and developing cost reporting procedures to ensure that the money is spent correctly. A. True
133. On some projects, some deliverables remain incomplete at project close-out. Activities that are not complete should be itemized, and responsibility for each should be clearly identified. A. True
134. Once risks have been identified and analyzed, the project team decides how they will handle each risk. A. True
135. One of the important factors that should influence the selection of contract type is how the risk is distributed between the buyer and the seller, and how the project is performed. A. True
136. One useful method of process improvement involves consideration of how another organization performs a process, identifying and analyzing best practices for improvement ideas. This method is known as: A. benchmarking
137. Outputs of Plan Procurement Management include the procurement management plan and procurement statement of work. A. True
138. Perform Qualitative Risk Analysis is the process of adhering to the risk response plan of tracking identified risks, identifying new risks, monitoring residual risks, and evaluating the effectiveness of the risk response process throughout the project. A. False
139. Perform Quantitative Risk Analysis is the process of numerically analyzing the effect of identified risks on overall project objectives. A. True
140. Perform Quantitative Risk Analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact. A. False
141. Plan Cost Management is the process to determine how to plan, estimate, and control project costs. A. True
142. Plan Risk Responses is the process of developing options and actions to enhance opportunities and reduce threats to project objectives. A. False
143. Process Analysis is a step-by-step breakdown of the phases of a process, used to determine the inputs, outputs, and operations that take place during each phase. A. True
144. Project managers can identify risks by learning and understanding the cause and effect relationships that bear on risk events. All of the following approaches rely upon an understanding of cause and effect relationships to identify risks EXCEPT: A. perform a Monte Carlo analysis
145. Project managers can identify risks by learning and understanding the cause and effect relationships that bear on risk events. All of the following approaches rely upon an understanding of cause and effect relationships to identify risks EXCEPT: A. perform a Monte Carlo analysis
146. Project managers should not lie to themselves or others regarding project costs. A. True
147. Project partnerships can be advantageous to both the client and the vendor, in terms of improved project execution, flexibility, and reduced bid administration. A. True
148. Project partnerships offer all of the following advantages to
“vendors” EXCEPT A. the buyer gains at the vendor’s expense
149. Project partnerships offer which of the following advantages to both clients and vendors? A. shared motivation
150. Project teams can often identify risks by conducting any of several types of reviews. Which of the following illustrates a valuable type of risk review? A. review the communication plan to determine where poor communications could cause a problem
151. Project teams can often identify risks by conducting any of several types of reviews. Which of the following illustrates a valuable type of risk review? A. review the communication plan to determine where poor communications could cause a problem
152. Projects often include indirect costs that are necessary to keep the organization running, but are not associated with one specific project. Which of the following items are most typically considered to be indirect costs? A. executive salaries, utilities and insurance
153. Quality control activities generally include all of the following EXCEPT: A. Management by objectives
154. Quality control charts are helpful in answering the question “how big of a change is big enough to count?” A. True
155. Recurring costs tend to occur during project planning and closing while nonrecurring costs tend to occur during project execution. A. False
156. Regardless of what method is used to estimate project costs, supporting detail should be provided. A. True
157. Risk response strategies such as accept risk and research risk apply to both threats and opportunities. A. True
158. Risk response strategies such as mitigation and exploitation apply to both threats and opportunities. A. False
159. Risk response strategy decisions should reflect a thorough understanding of the priorities that key stakeholders have for cost, schedule, scope, and quality. A. True
160. Self-directed teams on agile projects are largely empowered to decide what work to do and when to do it, consistent with the prioritizing of deliverables by the product owner. A. True
161. Since projects are temporary in nature and the project team disbands upon completion, it is not necessary for project managers to provide ongoing support in the form of training, change management, and/or other services. A. False
162. Some organizations rely upon a formal group authorized and responsible for reviewing, evaluating, approving, delaying, or rejecting any changes to any aspect of the project plan by following a formal communication method of documenting the decision process. This group is typically known as a: A. change control board.
163. Some project sponsors will only approve a project charter if it includes and reflects lessons learned from other recently completed projects. A. True
164. Some scope changes start as proposed changes to cost or schedule, just as some changes to cost or schedule start as proposed scope changes. A. True
165. Sometimes a project is terminated before its normal completion. A. True
166. Sometimes the risks posed by a project are deemed unacceptably large compared to the potential benefits, and the ultimate avoidance strategy is to not perform the project at all. A. True
167. Stakeholder satisfaction consists of identifying all stakeholders and understanding the stakeholders’ ultimate quality goals using a structured process to determine relevant quality standards. A. True
168. Supply chain management focuses exclusively upon the parties directly involved in providing supplies to the project team. A. False
169. Supply chain operations require managerial processes that span across functional areas within individual organizations, and link trading partners and customers across organizational boundaries. A. True
170. Supply chains use a combination of modes of transportation including: air, rail, water, pipeline and truck. A. True
171. The _________ is the approved budget, usually in a time distribution format, that is used to estimate, monitor, and control the overall cost performance of the project. A. cost baseline.
172. The Budget at Completion (BAC) is the sum of all budgets established for the work to be performed on a project. As such it is equivalent to: A. the total planned value of the project.
173. The component of the project management plan that describes how project costs will be planned, structured and controlled is called the project financial plan. A. False
174. The control quality process deals with using correct policies and convincing stakeholders that the project team is capable of producing good output. A. False
175. The cost management plan provides guidelines to the project manager and other stakeholders and serves all of the following purposes EXCEPT: A. It documents how the project statement of work and business case should be created.
176. The cost management plan provides guidelines to the project manager and other stakeholders and serves all of the following purposes EXCEPT: A. It documents how the project statement of work and business case should be created.
177. The cost per risk for risks discovered early in the project is often more than the cost per risk for risks discovered late because there is more opportunity for the risk to impact several dimensions of the project. A. False
178. The Cost Variance (CV) is a cost performance measure expressed as the ratio of earned value (EV) to actual cost (AC). A. False
179. The decision process for developing relevant quality standards on a project includes all of the following activities EXCEPT: A. design work systems
180. The documentation of a project cost estimate generally requires substantial supporting detail to include all of these EXCEPT: A. management reserve needs
181. The evaluation criteria that were developed during procurement planning to define how the team will evaluate and rank proposals should guide them in the vendor evaluation and selection process. A. True
182. The formality of a kick-off meeting can vary considerably depending on the size and type of project. A. true
183. The four contemporary core project quality concepts that evolved from the quality gurus and frameworks include which of the following? A. stakeholder satisfaction
184. The PMBOK process of documenting project procurement decisions, specifying the approach and identifying potential sellers is known as: A. Plan procurement management.
185. The primary output of Identify Risks is the Risk Identification Matrix (RIM). A. False
186. The primary questions project teams use in qualitative risk analysis are “how likely is this risk to happen?”, and “if it does happen, how big will the impact be?” A. True
187. The process of defining how to conduct risk management activities for a project is known as Project Risk Absorption Methodology (PRAM). A. False
188. The process of developing an approximation of monetary resources needed to complete project activities is known as: A. estimate cost.
187. The process of developing an approximation of monetary resources needed to complete project activities is known as: A. estimate cost.
188. The process of formalizing acceptance of the completed project deliverables is known as: A. validate scope
189. The process of formalizing acceptance of the completed project deliverables is known as: A. validate scope
190. The procurement management plan: A. describes how a project team will acquire goods and services from outside the performing organization.
191. The project organization can be a seller in dealing with the project owner or customer and a buyer in a more prevalent procurement setting. A. True
192. The project scope does not come into play when considering fixed and variable cost choices. A. False
193. The purpose of a check sheet is to quickly understand the primary causes of a particular problem using the 80/20 rule. A. False
194. The purpose of process control is to be able to have confidence that outputs are predictable. A. True
195. The purpose of risk management is to eliminate all project risk. A. False
196. The quality management plan defines the acceptable level of quality, which is typically defined by the customer, and describes how the project will ensure this level of quality in its deliverables and work processes. A. True
197. The risk register is a component of the project management plan that describes how risk management activities will be structured and performed on a project. A. False
198. The risk register is a living document and new risks can be added as they are discovered. A. True
199. The Schedule Performance Index (SPI) is a schedule performance measure expressed as the ratio of earned value (EV) to planned value (PV). A. True
200. The Validate Scope process occurs with interim deliverables throughout the project and with final deliverables near the end. A. True
201. There are many causes of variation in project costs. Which of the following accurately describes the nature of this variation? A. Variation occurs in all work processes and the novelty associated with most projects creates many opportunities for variation
202. There are many causes of variation in project costs. Which of the following accurately describes the nature of this variation? A. Variation occurs in all work processes and the novelty associated with most projects creates many opportunities for variation.
203. This Agile project reporting tool is useful to Scrum Masters as it projects how close to plan the team is within a given time box, by providing a graphical representation of work effort remaining in an iteration versus the days left in an iteration. A. Burndown chart
204. This is the process of reviewing all change proposals, estimating their impact on project goals wherever appropriate, approving or declining changes, and managing changes to deliverables, schedules, budgets and the project management plan: A. Perform integrated change control.
205. Time & Materials refers to a manufacturing context where just-in-time (JIT) tools are used to ensure that every step in the supply process adds value, while costs are kept to a minimum. A. False
206. Traditional project procurement was characterized by win / lose adversarial relations between owner and contractor, whereas contemporary project partnering fosters a relationship of trust and collaboration. A. True
207. Two types of control are used extensively on projects and both compare actual performance against the plan: steering control and go/no go control. A. True
208. Typically, expedited costs are preferred over regular costs. A. False
209. Value engineering is aimed at increasing the value or productivity of a work element while minimizing the cost. A. True
210. Vendor bid analysis is used to determine whether the price being asked by the vendors appears to be reasonable. A. True
211. What type of cost is incurred when a project must be conducted faster than normal, and overtime for workers and / or extra charges for rapid delivery from suppliers are necessary? A. expedited costs
212. When a contract is terminated for convenience, the contractor must complete all deliverables in process and submit the completed deliverables to the buyer. A. False
213. When a project is completed on time, the project team must accomplish all of the following activities EXCEPT: A. use alternative dispute resolution
214. When a project is completed on time, the project team must accomplish all of the following activities EXCEPT: A. use alternative dispute resolution
215. When a project is no longer needed or viable, the project manager, as primary advocate for the project, should recommend early termination. A. True
216. When a project team elects to purchase insurance, or adopts a fixed price contract with a vendor, or hires an expert, it is demonstrating which of the following risk response strategies? A. transfer a threat
217. When a project team elects to purchase insurance, or adopts a fixed price contract with A. transfer a threat
218. When complete, the risk register presents the results of both qualitative and quantitative risk analysis as well as risk response planning. A. True
219. When project managers authorize work, they should empower others to the extent possible, yet control them to the extent necessary. A. True
220. When reporting performance to sponsors and management, it is often helpful to organize the information in terms of three time horizons: past, current and future. A. True
221. When the impact of an event is negative, it is considered a risk; when the impact is positive, the event is considered an opportunity. A. False
222. When using earned value techniques, Actual Cost (AC) refers to the total of costs incurred in accomplishing work on the activity during a given period. A. True
223. Which estimating technique decomposes the work into lower, more detailed pieces, preferably the lowest level of WBS work elements, for which estimates are prepared and then aggregates them into a total quantity for the project? A. bottom-up estimating
224. Which estimating technique uses a statistical relationship between historical data and other variables (e.g., square footage in construction, lines of code in software development) to calculate an estimate for scope, cost and duration? A. parametric estimating
225. Which estimating technique uses a statistical relationship to calculate cost or duration based on historical data and other project parameters? A. parametric estimating
226. Which of the following accurately describes risk in project management? A. A risk may impact the project in a positive or negative way.
227. Which of the following accurately describes risk in project management? A. A risk may impact the project in a positive or negative way.
228. Which of the following activities are typically included in a project kick-off meeting? A. The project manager outlines the project goals.
229. Which of the following activities illustrates a risk response strategy designed to mitigate a threat? train a team member to cover for a potentially unavailable key resource
230. Which of the following activities illustrates a risk response strategy designed to research a threat or an opportunity? A. construct a prototype to learn more about a candidate solution
231. Which of the following activities illustrates a risk response strategy designed to mitigate a threat? A. train a team member to cover for a potentially unavailable key resource
232. Which of the following activities illustrates a risk response strategy designed to research a threat or an opportunity? A. construct a prototype to learn more about a candidate solution
233. Which of the following contract types is most appropriate when costs are NOT well known and the buyer absorbs all of the cost risk? A. Cost-Plus-Fixed-Fee (CPFF)
234. Which of the following describes how the team uses a cause-and-effect diagram to support project risk analysis? A. The team lists the risk as the “effect” in a box at the head of a fish, then names the big bones
235. Which of the following describes how the team uses a cause-and-effect diagram to support project risk analysis? A. The team lists the risk as the “effect” in a box at the head of a fish, then names the big bones.
236. Which of the following describes the activities appropriately performed by the project team during Perform Qualitative Risk Analysis? A. Team members assess the probability of occurrence and severity of impact for identified risks.
237. Which of the following describes the activities appropriately performed by the project team during Perform Qualitative Risk Analysis? A. Team members assess the probability of occurrence and severity of impact for identified risks.
238. Which of the following documents describes how the project team will implement the performing organization’s quality policy? A. quality management plan
239. Which of the following is one of the PMBOK Guide’s four project procurement management processes? A. Conduct procurements
240. Which of the following is true concerning lessons learned on a project? A. Lessons learned are the useful knowledge gained by project team members as they perform the project.
241. Which of the following is true concerning lessons learned on a project? A. Lessons learned are the useful knowledge gained by project team members as they perform the project.
242. Which of the following measures is best suited for determining whether the project is on, ahead or behind schedule? A. Schedule Variance (SV)
243. Which of the following quality management thought leaders is generally credited with contributing the insight that team learning is necessary to improve quality? A. Senge
244. Which of the following quantitative risk analysis techniques is used to determine which risks have the most powerful impact on the project, with results displayed in the form of a tornado diagram? A. Sensitivity Analysis
245. Which of the following quantitative risk analysis techniques is used to determine which risks have the most powerful impact on the project, with results displayed in the form of a tornado diagram? A. Sensitivity Analysis
246. Which of the following reasons might lead to an early contract termination for convenience? A. The buyer faces changing priorities.
247. Which of the following reasons might lead to an early contract termination for convenience? A. The buyer faces changing priorities.
248. Which of the following serves as a pre-condition that must be met in order for a project kick-off meeting to be successful? A. An atmosphere of trust and relationship building should be set by all.
249. Which of the following statements is consistent with the ideas that W. Edwards Deming promoted regarding quality management? A. Understanding variation is essential to improving quality.
250. Which of the following terms best describes extra money in the project budget to be used if necessary – usually if a risk event occurs? A. reserve
251. Which of the following terms describes a method for transforming contractual arrangements into a cohesive, collaborative project team with a single set of goals and established dispute resolution procedures? A. partnering
252. Which of the following types of contracts involves payment to the seller for the seller’s actual costs plus a fee typically representing the seller’s profit? A. cost-reimbursable contract
253. Which of these is a measurement used to ensure customers receive acceptable products or deliverables? A. quality metric
254. Which of these is NOT a reason to design quality into processes rather than to find problems later through inspections? A. The best inspectors can find every variation and defect
255. Which of these is NOT one of the typical questions that a project manager might ask in order to collect information on executed work and work in progress? A. What information should be covered in the project kick-off meeting?
256. Which of these would NOT typically be found in a Quality Management Plan? A. Team selection criteria
257. Which party to a contract absorbs the preponderance of cost risk when a Firm-Fixed-Price (FFP) contract is used? A. the seller
258. While the manage communications process is underway, effective information distribution often requires the project manager and team to accomplish all of the following activities EXCEPT: A. develop responses to identifies risks
259. With respect to performance reporting, which of these are the actual and raw observations and measurements gathered during execution of project activities? A. Work performance data
260. Work to be performed can come from the work package level of the work breakdown structure as well as other sources. Which of these is NOT a source of authorized work to be performed? A. Scope creep
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