MGT 461 Exam 3

A Closeout Report Template is often used for small projects within a large project containing an updated project charter, WBS, weekly progress reports, and client feedback summary.

True

A project organization can serve as either the buyer or the seller in a project related contract.

True

Information is a key ingredient at each stage of the project supply chain, as well as within each phase of supply chain decision making

True

It is best practice to assign both the core team members and subject matter experts as early as possible to capitalize on their enthusiasm as well as their insight during the planning phase.

True

It is not the responsibility of the project manager to create a transition plan to help the customer successfully use the project deliverables.

True

One of the most important post-project activities a project manager can perform is following up with customers weeks or months after the project deliverables are in use.

True

Project manager strategies to promote organization, project and team member needs may vary from one stage of team development to another.

True

The term on-boarding is when a project team member as been successfully added to the project team.

True

The personal values of team members on high-performing teams can be enhanced through which of the following team behavior practices?

a constant focus on improvement

High-performing teams include members who typically hold which of the following values?

a high need for achievement

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 review of the project's original justification

Which of the following factors should be considered when a project team evaluates a "make or buy" decision to procure services?

advantages and disadvantages of outsourcing in terms of performance control.

Closure of a project involves the assurance that all work has been

all of these

All of the following are among the activities a project manager should undertake to develop a highly effective team EXCEPT:

assess sponsor capability

The procurement management plan:

describes how procurement processes will be managed.

All of the following are advantages associated with assigning both core team members and subject matter experts to the project as soon as possible EXCEPT:

early assignment of resources saves the project money

Project managers interested in controlling quality on projects will often concentrate upon project inputs. Which of the following are important considerations for the project managers concentrating on inputs to ensure project quality?

ensure the workers assigned are capable of doing their work

Change control includes which of the following activities?

identifying, documenting, approving or rejecting, and controlling changes to project baselines

All of the following are performance improvements likely to be realized by projects that make good project sourcing decisions EXCEPT:

improved employee benefits

All of the following are among the types of capabilities that are useful for project team members EXCEPT:

insensitivity towards others

The process of reviewing all change requests, approving changes and controlling changes to deliverables and organizational process assets is known as:

integrated change control

Closure of a project generally entails all of the following activities EXCEPT:

providing ongoing support

All of the following entities are typically included in the supply chain EXCEPT:

public relations

Which of the following tools is displayed as a special type of scatter diagram used to see how a variable of interest changes over time?

run chart

During which stage of team development do team members attempt to jockey for power, ask many questions and establish dubious goals?

storming

A project team attempting to close a project should review which of the following to ensure the customers are satisfied that all required work was accomplished?

the customer feedback and scope verification

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:

the procurement statement of work.

Which party to a contract absorbs the preponderance of cost risk when a Firm-Fixed-Price (FFP) contract is used?

the seller

The Budget at Completion (BAC) is the sum of all budgeted values established for the work to be performed on a project. As such it is equivalent to:

the total planned value of the project.

The Schedule Performance Index (SPI) is a measure of schedule efficiency on a project.

true

When a project is completed on time, the project team must accomplish all of the following activities EXCEPT:

use alternative dispute resolution

All of the following accurately describe the features and characteristics of a contract EXCEPT:

The project organization is always a buyer in a contract arrangement

The closeout report usually, but does not have to, includes a summary status of the project that has been derived from the progress reports.

True

The concept behind a balanced scorecard is that an organization needs to be evaluated along customer, internal business, financial, and growth and innovation perspectives.

True

Terminations for default often result from a problem with the project's

all of these

What is an individual member capability tat can be used to create team synergy?

all of these

Which of the following serves as an important guideline concerning project inspections?

inspect at milestones identified in the project schedule

All of the following are among the common sources of project conflict EXCEPT:

personalities

When a project manager asks clarifying questions and paraphrases what is being communicated to them, he or she is using ?

Active listening

To successfully accomplish all five aspects of project determination, a project manager can think in terms of a ________.

Balanced scorecard

When closing a project in MS project, which sequence of events would one use?

Complete the schedule to maximize its future usefulness, Archive the schedule for use as a template or "starter' file, Capture and publish lessons learned about the effectiveness and efficiency of the employed schedule and cost management processes

Which of the following contract types is most appropriate when costs are NOT well known and the buyer absorbs the cost risk?

Cost-Plus-Fixed-Fee (CPFF)

What is a major downfall for hiring SMEs early before they need to complete any of the project activities?

Costs money

The process of improving the competencies, team interaction, and the overall team environment to enhance project performance is known as:

Develop project team

A contract is a unilateral document that binds a seller to provide specified products and services under terms agreeable to the buyer.

FALSE

All project teams progress uniformly through five stages of team development.

FALSE

During project execution, monitoring refers to the act of comparing actual performance with planned performance and taking corrective action when needed.

FALSE

During the planning phase, it is important to have your entire project team assembled.

FALSE

Inspection is keeping errors out of process while prevention is trying to find errors so they do not get to the customer.

FALSE

Leadership within a project team should be demonstrated only by the project manager.

FALSE

Project close-out checklists provide the project manager a legally enforceable contract vehicle to hold team members accountable for each item that must be completed to close a project

FALSE

Since projects are temporary in nature and the project team disbands upon completion, it is highly irregular for project managers to provide ongoing support in the form of training or change management.

FALSE

Terminating a project early can only be done by mutual agreement between the contractor and buyer.

FALSE

A buyer does not have the ability to terminate a project early because they feel there is lost confidence in the contractor who is performing the project.

False

Buying from an outside supplier to meet project needs is generally frowned upon because it invariably proves to be more expensive than obtaining materials and services internally.

False

Earned Value (EV) is the authorized budget assigned to the scheduled work to be accomplished.

False

Effective conflict management skills are rarely useful on successful project teams.

False

Extensive supplier evaluation approaches such as surveys, facility visits and financial analysis should be applied to first-tier suppliers only.

False

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.

False

Supply chain management focuses exclusively upon the parties directly involved in providing supplies to the project team.

False

Supply chain management is more important to projects where a large portion of the work is being accomplished in-house.

False

The concept behind a balanced scorecard is that an organization needs to be evaluated along supplier, external business, risk and human resource perspectives.

False

The purpose of quality control on projects is to reduce the number of defects in deliverables rather than to improve the project process.

False

What is one reason why a project manager would be given the best resource from each department required by the project?

High priority project

All of the following statements accurately describe supply chain management EXCEPT:

It is a closed-loop system solely within the project organization's boundaries

All of the following accurately describe earned value management EXCEPT:

It is good for performance reporting but not for forecasting

Project managers will often provide ___________ to ensure customers can effectively use the project deliverables.

Ongoing support

A transition plan helps ensure __________.

Quality problems are avoided during the transition

Acquiring the project team is the process of confirming human resource availability and obtaining the team necessary to complete project assignments.

TRUE

Among the disadvantages associated with outsourcing is the potential loss of special skills for doing the outsourced activities.

TRUE

Celebrations of success ease the stress of working hard for a prolonged period of time.

TRUE

Closing procurements is the process of completing each procurement.

TRUE

Contract incentives are often used when the buyer wants to maximize some aspect of performance.

TRUE

Great team synergy can help make a team's capability better than the individual team member's capabilities.

TRUE

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.

TRUE

High-performing project teams will typically persevere despite challenges, produce high quality results and consistently meet or exceed stakeholder expectations.

TRUE

It is possible for a project to be both behind schedule and under budget at the same time.

TRUE

One of the important factors that should influence the selection of contract type is the degree of risk to be assumed by both the seller and the buyer.

TRUE

One of the most important things a project manager can do near the end of a project is to help good workers secure follow-on work.

TRUE

Outsourcing project tasks has been is a well-established practice in various industries when it comes to project management.

TRUE

Project managers can further team development by securing agreement on common goals and objectives for the project.

TRUE

Some scope changes start as proposed changes to cost or schedule, just as some changes to cost or schedule start as proposed scope changes.

TRUE

Sometimes firms develop a qualified sellers list and only allow those companies on the list to submit a proposal on the upcoming project.

TRUE

Supply chain operations require managerial processes that span across functional areas within individual organizations.

TRUE

Supply chains use a combination of modes of transportation including: air, rail, water, pipeline and trucks.

TRUE

The adoption of specific ground rules that specify acceptable and unacceptable behaviors can help prevent potential problems and improve working relationships and communication.

TRUE

The extent to which a project relies upon internal sources for materials and services varies from one project to another and from one organization to another.

TRUE

The ideal time to on-board core team members is to include them in the chartering process.

TRUE

The value of engaging a subject matter expert early in a project should be balanced against the potentially significant cost of paying for his or her expertise.

TRUE

Two types of control are used extensively on projects: steering control and go / no go control.

TRUE

Verify Scope occurs with interim deliverables throughout the project and with final deliverables near the end

TRUE

When project managers authorize project work, they should empower others to the extent possible, yet control to the extent necessary.

TRUE

When projects are cancelled for the convenience of the buyer, this does not necessary mean that the contractor is at fault.

TRUE

When using a control chart, a point that occurs above the upper control limit typically means the variation is enough that it is not likely to have happened purely by chance - rather some sort of special cause explains the variation.

TRUE

When using earned value techniques, Actual Cost (AC) refers to the total costs actually incurred and recorded in accomplishing work performed during a given time period.

TRUE

Wikis databases are often created by organizations to help communicate lessons learned when closing a project and helps project managers minimize the same obstacles or pitfalls in future projects.

TRUE