MG 585 - Module 5 - Chapter 15

Early termination can be either for default or for the convenience of the seller only. a. True b. False

False

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. True b. False

False

When a contract is terminated for convenience, the contractor must complete all deliverables in process and submit the completed deliverables to the buyer. a. True b. False

False

For the remainder of the organization to capitalize on lessons learned, a method must be established for documenting and sharing them. a. True b. False

True

What serves as an instruction manual in order to help the customer use the project deliverables as intended? a. Lessons-learned database b. Transition plan c. Executed work contract d. Issues log

b. Transition plan

Lessons learned should include what worked well that the team members think should be copied and/or adapted for future work, and areas for which a different method may yield better results. a. True b. False

True

On Agile projects, scope is validated at every iteration and release when the team demonstrates to the customer how the items they produced work. a. True b. False

True

On long duration projects it is often better to capture lessons frequently because people may not remember clearly what happened a few weeks or months earlier. a. True b. False

True

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 b. False

True

One way to overcome the problem that organizations are busy and do not seek lessons learned is for project sponsors to sign project charters only if lessons from other recently completed projects are included or considered. a. True b. False

True

Sometimes a project is terminated before its normal completion. a. True b. False

True

The Validate Scope process occurs with interim deliverables throughout the project and with final deliverables near the end. a. True b. False

True

When a project is no longer needed or viable, the project manager, as primary advocate for the project, should recommend early termination. a. True b. False

True

What key input is required before a project or project phase can move to the closing stage? a. Accepted deliverables b. Change requests c. Updated issues log d. Work performance reviews

a. Accepted deliverables

The team is preparing to hand over final deliverables and is considering what client communications are needed. When finishing the project and realizing benefits using Agile methods, which statement BEST describes transition plan? a. An instruction manual of how the customer should use the project deliverables once the project team has completed its work b. Useful knowledge gained by project team members as they perform a project and then reflect on both the process of doing the work and the results that transpired c. Ensuring that all work has been accomplished, all resources have been reassigned, and all documentation is complete d. A summary status of the project that can be gleaned from progress reports, including lessons learned, and a review of the project's original justification

a. An instruction manual of how the customer should use the project deliverables once the project team has completed its work

How can Microsoft Project be useful during the closing stage of a project? a. Complete and archive the schedule and capture lessons learned from the scheduling process. b. Determine if the project accomplished what it was originally approved to do. c. Display summary status of the project from progress reports. d. Document the punch list of all work items that need to be completed.

a. Complete and archive the schedule and capture lessons learned from the scheduling process.

Termination for default often results from a problem with the project's __________, __________, or __________. a. Cost; schedule; or performance b. Cost; schedule; or resources c. Communications; schedule; or risk d. Change control; schedule; or performance

a. Cost; schedule; or performance

In this type of Agile contract, if the team completes work sooner than expected, they get a higher hourly rate for their work, but if they are slower, they get a lower hourly rate. a. Graduated fixed price b. Money for nothing c. Fixed price work packages d. Change for free

a. Graduated fixed price

Which of the following reasons might lead to an early contract termination for convenience? a. The buyer faces changing priorities. b. The seller faces unexpected difficulties. c. The seller needs change. d. The buyer and seller negotiate a settlement

a. The buyer faces changing priorities.

The project is approaching the end and the client is asking for information regarding post-project maintenance. When finishing the project and realizing benefits using Agile methods, how is ongoing support handled? a. Through a transition plan b. Useful knowledge gained by project team members as they perform a project and then reflect on both the process of doing the work and the results that transpired c. Ensuring that all work has been accomplished, all resources have been reassigned, and all documentation is complete d. A summary status of the project that can be gleaned from progress reports, including lessons learned, and a review of the project's original justification

a. Through a transition plan

The client has submitted a list of items to be resolved prior to acceptance of deliverables. When finishing the project and realizing benefits using Agile methods, which statement BEST describes a punch list? a. Work items that are identified during a final inspection that need to be completed b. Useful knowledge gained by project team members as they perform a project and then reflect on both the process of doing the work and the results that transpired c. Ensuring that all work has been accomplished, all resources have been reassigned, and all documentation is complete d. A summary status of the project that can be gleaned from progress reports, including lessons learned, and a review of the project's original justification

a. Work items that are identified during a final inspection that need to be completed

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 b. a list of team members dismissed due to poor performance c. transcripts of team member conversations d. review of team building exercises

a. a review of the project's original justification

When a project is completed on time, the project team must accomplish all of the following activities EXCEPT: a. use alternative dispute resolution b. capture and share lessons learned c. plan a smooth transition of deliverables into ongoing operations d. secure customer feedback and approval

a. use alternative dispute resolution

The process of meeting with customers and/or key stakeholders to formalize acceptance of completed project deliverables is called ____________________. a. validate scope b. control scope c. close procurements d. manage stakeholders

a. validate scope

In this type of cost-reimbursable contract, the buyer reimburses the seller for the seller's allowable costs and pays the seller a fee if it meets defined performance criteria. a. Cost-plus-fixed-fee (CPFF) contract b. Cost-plus-incentive-fee (CPIF) contract c. Cost-plus-overhead (CPOH) contract d. Cost-plus-award-fee (CPAF) contract

b. Cost-plus-incentive-fee (CPIF) contract

Of the answers below, which of these is NOT one of the reasons that both buyers and sellers should administer contracts? a. Make sure contractual obligations are met b. Determine if additional supplier selection criteria are required (e.g., price, performance, delivery time) c. Ensure that neither party has any legal liability d. Confirm that performance of the seller satisfies contractual obligations

b. Determine if additional supplier selection criteria are required (e.g., price, performance, delivery time)

The project team is debating over the timing of scope validation. When finishing the project and realizing benefits using Agile methods, when is scope validated? a. At the end of the project or phase b. In demonstrations at the end of iterations and releases c. Retrospectives that are conducted at the end of every iteration d. When work items that are identified during a final inspection are completed

b. In demonstrations at the end of iterations and releases

___________ is 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. Procurement management b. Partnering c. Subcontracting d. General contracting

b. Partnering

Which of these is NOT one of the Procurement Management processes as defined in the PMBOK® Guide? a. Conduct procurements b. Plan supply chain management c. Plan procurement management d. Control procurements

b. Plan supply chain management

The client is experiencing challenges with cash flow and the team is concerned about possible project termination. When finishing the project and realizing benefits using Agile methods, how do you terminate a project early? a. By mutual agreement, default, or convenience of buyer b. Product owner pivots using money for nothing or change for free contract clauses c. Ensuring that all work has been accomplished, all resources have been reassigned, and all documentation is complete d. By providing a summary status of the project that can be gleaned from progress reports, including lessons learned, and a review of the project's original justification

b. Product owner pivots using money for nothing or change for free contract clauses

Once potential contractors submit bids or proposals; the client company applies previously defined selection criteria to select one or more qualified sellers. Which of these would NOT be a selection criterion used for this purpose? a. Price b. Relationship with senior management c. Life cycle cost d. Technical, managerial, financial grounds

b. Relationship with senior management

This type of procurement document is used when discussions with bidders are not required and when price is the main or only factor in selecting the successful bidder. a. Request for information (RFI) b. Request for quotation (RFQ) c. Request for proposal (RFP) d. Procurement statement of work (SOW)

b. Request for quotation (RFQ)

The sponsor asked the project team leader about knowledge management in the context of activities that are temporary—such as multiple sprints. When finishing the project and realizing benefits using Agile methods, how is knowledge management handled? a. Lessons learned are captured at the end of a phase or project and added to a repository. b. Retrospectives are conducted at the end of every iteration. c. Formally accepting the completed project deliverables d. Work items that are identified during a final inspection that need to be completed

b. Retrospectives are conducted at the end of every iteration.

What is the first step in capturing lessons learned at the end of a project? a. The project manager holds a meeting where each participant writes his or her top issues in a workspace where everyone can see them, then the entire group votes on the top five or ten. b. The project manager sends an e-mail asking the participants to identify major project issues before holding a meeting. c. The project manager holds a meeting where they ask project participants leading questions about the top issues one at a time to determine what went wrong and how it might be avoided in future projects. d. The project manager makes a list of the major project issues from their perspective and e-mails them to participants for feedback.

b. The project manager sends an e-mail asking the participants to identify major project issues before holding a meeting.

As the project is approaching the end, the team members are expressing concern about their next assignments. When finishing the project and realizing benefits using Agile methods, what happens to team members at the end of the project? a. They are individually reassigned or disbanded. b. The team is reassigned as a unit. c. They are released from the organization. d. The team members return to functional areas for remedial training.

b. The team is reassigned as a unit.

The project team lead hears a team member refer to capturing lessons learned after the project ends. When finishing the project and realizing benefits using Agile methods, which statement BEST describes lessons learned? a. An instruction manual of how the customer should use the project deliverables once the project team has completed its work. b. Useful knowledge gained by project team members as they perform a project and then reflect on both the process of doing the work and the results that transpired. c. Ensuring that all work has been accomplished, all resources have been reassigned, and all documentation is complete. d. A summary status of the project that can be gleaned from progress reports, including lessons learned, and a review of the project's original justification.

b. Useful knowledge gained by project team members as they perform a project and then reflect on both the process of doing the work and the results that transpired.

Project teams conduct _____________ with prospective suppliers prior to bid preparation to address concerns and to provide clarifications. a. individual meetings b. bidder conferences c. brainstorming sessions d. prototyping exercises

b. bidder conferences

All of the following reasons might lead to a contract termination for default EXCEPT: a. problems associated with the project schedule b. changing customer priorities c. a loss of confidence in the contractor performing the project d. problems associated with the project cost

b. changing customer priorities

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 project charter b. customer feedback form c. the communication plan d. the project organization chart

b. customer feedback form

All of the following practices have proven effective for managing lessons learned in an organization EXCEPT: a. creation of databases, shared folders or wikis that all workers can easily access. b. documenting all lessons learned only at the end of the project. c. coding of lessons learned to facilitate searches by future teams. d. assignment of a lessons learned database "owner" who reviews new lessons and incorporates into existing lessons.

b. documenting all lessons learned only at the end of the project.

Validate __________ is the process where the stakeholders formally accept the completed project deliverables. a. WBS b. scope c. project d. product

b. scope

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 project charter b. the stakeholder register c. the work breakdown structure d. the project schedule

b. the stakeholder register

During which project management process would a company auditor verify that all contracts have been completed and all required purchasing standards and methodologies have been followed for the project? a. Validate scope b. Close contracts c. Close project or phase d. Conduct procurements

c. Close project or phase

Some common goals warrant a more supportive relationship, and there are many advantages of project partnerships. Which of these is NOT an advantage? a. Easier approvals due to shared interests b. Multidisciplinary, highly motivated and talented team c. Conflicts of interest d. Better time and cost estimates

c. Conflicts of interest

Which of these is NOT one of the three main activities that occur during the conduct procurements process? a. Award a contract b. Receive seller responses c. Establish criteria for supplier selection d. Select a seller

c. Establish criteria for supplier selection

This type of fixed-price contract includes a clause to protect the seller from conditions such as inflation or commodity cost increases. a. Firm-fixed-price (FFP) contract b. Fixed-price-incentive-fee (FPIF) contract c. Fixed-price-economic-price-adjustment (FP-EPA) contract d. Time and materials (T&M) contract

c. Fixed-price-economic-price-adjustment (FP-EPA) contract

What should be done with any activities that remain incomplete at the time of project closure? a. The project cannot be closed out until every activity is complete. b. Final closure means that incomplete activities do not have to be addressed by this project. c. Incomplete activities should be itemized, and responsibility clearly identified. d. The incomplete activities should be rolled into a new project or a new phase of the current project.

c. Incomplete activities should be itemized, and responsibility clearly identified.

____________ refers primarily to a manufacturing context and implementation of just-in-time (JIT) tools and techniques, to ensure every step in the supply process adds value while various costs are kept at the minimum level. a. Outsourcing b. Logistics c. Lean procurement d. Partnering

c. Lean procurement

Which of the following is true concerning lessons learned on a project? a. Lessons learned can only be gathered from project team members. b. Lessons learned are only identified at the end of the project after learning has occurred. c. Lessons learned are the useful knowledge gained by project team members as they perform the project. d. Lessons learned are always provided by the customer.

c. Lessons learned are the useful knowledge gained by project team members as they perform the project.

If both parties agree to stop the project before its planned completion but cannot reach an agreement, which of these is NOT an appropriate action to take? a. Continue direct negotiations in an attempt to part amicably. b. Reach a settlement through legal resolution. c. Make sure everyone knows who is to blame for the failure to complete the project. d. Reach a settlement through alternative dispute resolution.

c. Make sure everyone knows who is to blame for the failure to complete the project.

Which of the answers below is NOT part of a typical closeout report? a. Lessons learned b. Review of the project's original justification c. Stakeholder analysis d. Summary status of the project

c. Stakeholder analysis

Under terminations for convenience, a contract clause might be invoked by the buyer for any of these reasons EXCEPT: a. buyer is facing unexpected difficulties. b. buyer's organizational priorities have changed. c. buyer has lost confidence in the contractor. d. buyer decides project is no longer needed.

c. buyer has lost confidence in the contractor.

Terminations for ____________________ often result from a problem with the project's cost, schedule, or performance. a. convenience b. completion c. default d. confidence

c. default

A project can be terminated early under all of these conditions EXCEPT: a. mutual agreements between the contractor and the buyer. b. termination for default (for cause). c. early termination for convenience of seller. d. termination for convenience of buyer.

c. early termination for convenience of seller.

Project teams conduct procurement planning early in the project life to set expectations and to conduct make-or-buy analysis. The make-or-buy decision will depend on many factors, which include all of these EXCEPT: a. expertise. b. availability of internal resources. c. indirect costs. d. urgency of completing the deliverable.

c. indirect costs

All of these are signs that a project has moved into the closing stage EXCEPT: a. customers validate the scope is complete. b. project is terminated early. c. integrated change control activities take place. d. project deliverables are transitioned to a client or ongoing operations.

c. integrated change control activities take place.

The ____________ documents the portion of work to be purchased, described in enough detail so potential suppliers can decide if they feel they are capable of and interested in providing it. a. procurement management plan b. request for quotation (RFQ) c. procurement statement of work (SOW) d. contract

c. procurement statement of work (SOW)

Closing a project entails finalizing all activities needed to finish the project. During project closing, customers are asked both to accept the project deliverables and to __________. a. pay their final invoice b. write a performance appraisal for the project manager's file c. provide feedback d. write a transition plan

c. provide feedback

In a construction project, the __________ is the list of "work items that are identified during a final inspection that need to be completed." a. to-do list b. burndown chart c. punch list d. check sheet

c. punch list

The new management team at a large company has reevaluated ongoing initiatives and has identified new goals and objectives for the year. They direct that all contracts in progress be terminated immediately. This is an example of ____________________. a. management by objectives b. termination for cause c. termination for convenience d. termination by consensus

c. termination for convenience

The process of formalizing acceptance of the completed project deliverables is known as: a. product acceptance b. system turnover c. validate scope d. control scope

c. validate scope

The project sponsor requests a final report at the end of the project—but the project team leader is unsure about what to include. When finishing the project and realizing benefits using Agile methods, which statement BEST describes a closeout report? a. An instruction manual of how the customer should use the project deliverables once the project team has completed its work. b. Useful knowledge gained by project team members as they perform a project and then reflect on both the process of doing the work and the results that transpired. c. Ensuring that all work has been accomplished, all resources have been reassigned, and all documentation is complete. d. A summary status of the project that can be gleaned from progress reports, including lessons learned, and a review of the project's original justification.

d. A summary status of the project that can be gleaned from progress reports, including lessons learned, and a review of the project's original justification.

Which of these is NOT one of the five key elements of successful partnerships? a. Accessibility b. Flexibility c. Mutual benefit d. Ambiguity

d. Ambiguity

All of the following describe benefits associated with celebrating the completion of a project EXCEPT: a. Celebrations can persuade team members to believe they can do just a bit more than they might think possible. b. Celebrations provide an opportunity to recognize and acknowledge team member efforts and results. c. Celebrations mark transition points as people leave one project for another. d. Celebrations are held in conjunction with team performance reviews.

d. Celebrations are held in conjunction with team performance reviews.

The team is discussing the difference between verification and validation. When finishing the project and realizing benefits using Agile methods, which statement BEST describes validate scope? a. An instruction manual of how the customer should use the project deliverables once the project team has completed its work b. Useful knowledge gained by project team members as they perform a project and then reflect on both the process of doing the work and the results that transpired c. Ensuring that all work has been accomplished, all resources have been reassigned, and all documentation is complete d. Formally accepting the completed project deliverables

d. Formally accepting the completed project deliverables

This component of project procurement management is defined as "the acts of choosing between manufacturing a product or developing a service in-house or purchasing it from an external supplier." a. Outsourcing b. System integration c. Subcontracting d. Make-or-buy decisions

d. Make-or-buy decisions

Which of the activities below would NOT typically be performed during the Control Procurements process? a. Managing relationships between sellers and customers b. Making changes and corrections if needed c. Monitoring contract performance d. Making contract awards

d. Making contract awards

Which of these is NOT one of the documents that a project manager can refer back to in order to make sure that all planned work has, in fact, been completed? a. Work breakdown structure (WBS) b. Project charter c. Project scope statement d. Resource breakdown structure (RBS)

d. Resource breakdown structure (RBS)

Closure of a project generally entails all of the following activities EXCEPT: a. Ensuring customers have accepted the project deliverables b. Asking customers for feedback c. Collecting and sharing lessons learned d. Updating the project management plan

d. Updating the project management plan

During the "close project or phase" process, the team and project manager may wish to review the ____________________. a. project charter b. work breakdown structure (WBS) c. risk register d. all of the above

d. all of the above

Contracts can be terminated early for any of the following reasons EXCEPT: a. default. b. mutual agreement. c. convenience of buyer. d. convenience of seller.

d. convenience of seller.

A project transition plan helps to ensure all of these EXCEPT: a. quality problems are avoided during the transition. b. the needed maintenance, upgrades, and training take place. c. project deliverables transition into their service or operational role. d. every risk in the risk register is updated with a new owner.

d. every risk in the risk register is updated with a new owner.

Any of the following attributes can serve as a useful factor for coding lessons learned EXCEPT: a. type of project b. stage in project life cycle or project phase c. issue it concerns d. lessons learned owner

d. lessons learned owner

If the buyer decides to terminate a project early, his or her responsibilities to the contractor are laid out in the project's ____________________. a. work breakdown structure (WBS) b. communications plan c. scope statement d. procurement agreement

d. procurement agreement

The emphasis on structuring contracts is quite different for Agile projects. Agile contracts emphasize all of the following EXCEPT: a. value chain. b. transparency. c. collaboration. d. scope, schedule, and cost.

d. scope, schedule, and cost.

The main objective of a project is to provide ____________________ to the customer. a. deliverables b. lessons learned c. work d. value

d. value