Project Management Cumulative Final

Heuristic Scale

1) Activity with least slack 2) Smallest duration activity 3) Smallest activity number

PCIC Percent complete index actual costs

AC/EAC

Baseline Budget

Add all the numbers down and then across for all the columns and then accumulate in cumulative column across

Causes for scope creep can include Multiple Choice new technology. incorrect design assumptions. users want more functionality. newly identified features. All of these alternatives are correct. Correct

All of these alternatives are correct This is just a representative sample of rational for changes in scope - to put together an exhaustive list would be a challenge in and of itself!

PCIB percent complete index budgeted cost

EV/BAC

The arrangement that manages projects within the existing organizational structure is __________ organization. Multiple Choice functional (Correct) balanced matrix weak matrix strong matrix projectized

Functional One approach to organizing projects is to simply manage them within the existing functional hierarchy of the organization. Once management decides to implement a project, the different segments of the project are delegated to the respective functional units with each unit responsible for completing its segment of the project.

A project manager notices that $5,560 worth of work that was scheduled to be completed at this time has not been accomplished. She knows this by looking at the Multiple Choice EAC. EV. PCIB. TCPI. SV. Correct

SV An SV of -5,560 would indicate that $5,560 worth of work that was scheduled to be completed at this time has not been accomplished.

SV Schedule variance

SV = EV - PV Difference between the earned value and actual costs for work completed to date

What is the shortest path?

Take all shortest paths in the activity table

CV cost variance

difference beteween earned value and actual cost CV = EV - AC

Insensitive project

has one singular critical path

BAC budget cost at completion

the total budgeted cost of the baseline or project cost accounts

The chief financial officer receives the following information on a project: PV = 10,000, EV = 12,000, AC = 8,000, BAC = 20,000, EAC = 13,333. How is the project doing in terms of schedule? Multiple Choice Less work has been done than planned The project has cost more than planned More work has been done than planned Correct There is not enough information to draw a conclusion The same amount of work has been done than planned

More work has been done than planned To find out how well this project is doing in terms of schedule, the SV will need to be calculated by subtracting PV from EV. The result is a positive 2,000, which indicates that $2,000 more worth of work has been completed than planned.

For companies of moderate-to-large size, it is not unusual to have hundreds of small projects ongoing concurrently. The advent of many small projects has created the need for an organization that can support __________ management. multi-project (Correct) program concurrent portfolio product

Multi-Project This climate has created a multi-project environment and a plethora of new problems. Sharing and prioritizing resources across a portfolio of projects is a major challenge for senior management.

Jack's organization has many projects ongoing concurrently. He finds himself starting and stopping work on one task to go and work on another task, and then return to the work on the original task. Jack is experiencing poor scheduling. excess work burden. flexible tasking. multitasking. (Correct) burnout.

Multitasking Resource sharing also leads to multitasking. Multitasking involves starting and stopping work on one task to go and work on another project, and then returning to the work on the original task. People working on several tasks concurrently are far less efficient, especially where conceptual or physical shutdown and startup are significant.

Research consistently points out that project success is strongly affected by the degree to which a project has the support of top management. The following are ways a project manager can manage upward relationships EXCEPT Multiple Choice pick the optimum time to appeal to top management. consistently follow through on requests. never ignore the chains of command. Correct accept profound differences in perspective and become skilled at the art of persuading superiors. prove loyalty.

Never ignore the chain of command Few project managers admit ignoring chains of command. If they are confident that top management will reject an important request and that what they want to do will benefit the project, they do it without asking permission. While acknowledging that this is very risky, they will claim that bosses typically won't argue with success.

A reason that the duration on a task may differ from an original duration on a tracking Gantt chart could be Multiple Choice an expected delay. new information on the task. Correct the task has been cancelled. a new budget cycle. an unexpected delay.

New information on the task Changes in information relating to a task could make it longer or shorter in duration.

A reason that the duration on a task may differ from an original duration on a tracking Gantt chart could be Multiple Choice an unexpected delay. new information on the task. Correct a new budget cycle. the task has been cancelled. an expected delay.

New information on the task Changes in information relating to a task could make it longer or shorter in duration.

During which stage of team development do close relationships develop and the group demonstrates cohesiveness? Multiple Choice Norming Correct Forming Adjourning Performing Storming

Norming The norming stage is one in which close relationships develop and the group demonstrates cohesiveness. Feelings of camaraderie and shared responsibility for the project are heightened.

The personality of an organization is a simple explanation of ___________. Multiple Choice Organizational structure Organizational culture (Correct) Organizational governance Organizational identity All of these

Organizational Culture Organizational culture refers to a system of shared norms, beliefs, values, and assumptions which binds people together, thereby creating shared meanings.

Given that the AC = 500, PV = 400 and EV = 300, this project is currently _________ budget and ______ schedule. Multiple Choice on, on over, behind Correct under, behind over, ahead of under, ahead of

Over, behind The cost variance is determined by subtracting the AC from the EV. This results in a negative $200. Thus, more has been spent than has been accomplished. The schedule variance is determined by subtracting the PV from the EV. This results in a negative $100. Thus, the project has not accomplished what was planned to have been accomplished at this point in time.

Which of the following is NOT typical of a project manager? Managing a temporary activity Overseeing existing operations (Correct) Managing a nonrepetitive activity Responsible for time, cost and performance trade-offs Work with a group of outsiders, including vendors and suppliers

Overseeing existing operations (Correct) Project managers manage temporary, non-repetitive activities unlike functional managers who manage existing operations

The _________ index measures the project percent complete in relation to the resources that were budgeted. Multiple Choice CPI SPI TCPI EAC PCIB Correct

PCIB The PCIB indicates what percentage of work has been completed to date based on planned budget. It is a good indicator of how much of the project has been completed.

Baseline project budgets are derived from time-phasing the work ________. Multiple Choice packages Correct milestones modules products resources

Packages The earned value system starts with the time-phased costs (found in the work packages) that provide the project budget baseline, which is called the planned budgeted value of the work scheduled (PV). Given this time-phased baseline, comparisons are made with actual and planned schedule and costs using earned value. The earned value approach provides the missing links not found in conventional cost-budget systems.

The financial model that measures the time it will take to recover the project investment is the __________ model. break through recovery threshold investment payback

Payback The payback model measures the time it will take to recover the project investment. Shorter paybacks are more desirable. Payback is the simplest and most widely used model.

A project engineer has been scheduled to run the product system test at the same time as building a marketing prototype. This is an example of what type of resource constraint? Multiple Choice Physical Technical People Correct Equipment Time

People If one person must perform all activities, the resource constraint requires the activities be performed in sequence or series. Since the project engineer's skillset is required for both activities at the same time, this is an example of human or people resource constraint.

The estimating factor that considers the skill level of participants doing the estimating is known as the ___________ factor. Multiple Choice project complexity planning horizon people (Correct) organizational culture padding estimates

People The people factor can introduce errors in estimating times and cost. For example, accuracy of estimates depends on the skills of the people making the estimates. A close match of people skills to the task will influence productivity and learning time.

The indicator that tells you the planned time-phased value of the work that is scheduled is the _______________. Multiple Choice cost variance (CV) planned value (PV) Correct earned value (EV) schedule variance (SV) None of these alternatives is correct.

Planned value (PV) The planned value (PV) is the budgeted cost of the work scheduled.

A home builder is collecting estimates for a house that he will have the funding to build in 12 months. Which of the following factors does he need to consider in regard to the quality of these estimates? Multiple Choice Padding estimates Planning horizon Correct Project structure People Project duration

Planning horizon If the home builder will not have funding to start the project for 12 months, he needs to consider the planning horizon. The accuracy of the time and cost estimates decrease as the planning horizon expands.

_________-related currencies stem from the project manager's ability to enhance others' positions within the organization. Multiple Choice Inspiration Task Relationship Personal Position Correct

Position Position-related currencies stem from the project manager's ability to enhance others' positions within the organization. A project manager can do this by giving someone a challenging assignment that can aid in their advancement.

One of the primary jobs of a project manager is to manage the trade-offs among time, cost, and performance. To do so, the project manager must define and understand the ___________ of the project. Multiple Choice project charter communications plan priorities (Correct) requirements WBS

Priorities One technique found in practice that is useful for this purpose is completing a priority matrix for the project to identify which criterion is constrained, which should be enhanced and which can be accepted.

The WBS is best suited for projects that have a tangible outcome. Which of the following is used when the final outcome of the project is less tangible or is a product of a series of steps or phases? Multiple Choice Responsibility matrix Organization breakdown structure A work breakdown structure is still effective for these types of projects. Priority matrix Process breakdown structure Correct

Process Breakdown Structure Process projects are driven by performance requirements and not plans or blueprints. Some practitioners choose to utilize what we refer to as a process breakdown structure (PBS) instead of the classic WBS.

The WBS is best suited for design and construction projects that have tangible outcomes. When the final outcome of the project is less tangible or it is the result of a series of steps or phases, some project managers choose to utilize a(n) ___________. Multiple Choice Work Breakdown Structure (WBS) Modified Process Breakdown Structure (PBS) Correct Organization Breakdown Structure (OBS) Project Priority Matrix (PPM) Responsibility Matrix (RM)

Process Breakdown Structure (PBS) Correct It is more difficult to apply WBS to less tangible, process-oriented projects in which the final outcome is a product of a series of steps or phases. Some practitioners choose to utilize a process breakdown structure for these projects.

A list of potential projects, several criteria, weights for those criteria, and criteria scores for those projects are all typically included on a(n) ___________ matrix. Multiple Choice Multiple criteria Project screening (Correct) Project selection Project elimination Project assessment

Project Screening Weighted scoring models will generally include qualitative and/or quantitative criteria to help evaluate a list of projects. Each selection criterion is assigned a weight. Scores are assigned to each criterion for the project based on its importance to the project being evaluated. A project screening matrix is an example of a weighted scoring model.

The closest relationships in a project network of relationships are between the project manager and Multiple Choice top management. project team members. Correct project sponsors. customers. other project managers.

Project team members The project team members manage and complete project work. The closest relationships in a project network of relationships are between the project manager and the project team members.

A project manager is considering how to structure a project team that will not directly disrupt ongoing operations. The project needs to be done quickly and a high level of motivation will be needed in order to do that. For this situation, the ______ organization would be the best choice. Multiple Choice functional balanced matrix weak matrix strong matrix projectized (correct)

Projectized In many cases, the project team approach is the optimum approach for completing a project when you view it solely from the standpoint of what is best for completing the project.

Organizations that manage project closure tend to ______ while those that do not have projects that ______. Multiple Choice never finish, finish eventually. prosper rarely, thrive. be unsuccessful, thrive. prosper, drag on forever. Correct languish, thrive.

Prosper, drag on forever Observation tells us that organizations that manage closure prosper. Those who don't tend to have projects that drag on forever and repeat the same mistakes over and over.

A key to being able to effectively persuade superiors is Multiple Choice establishing project ownership. being visible to top management. being a self-starter. proving loyalty. Correct constantly meeting deadlines.

Proving loyalty Proving loyalty takes many forms, but mainly it is showing that you can take direction, carry out requests, and staying within set organizational boundaries without a lot of push-back.

A scrum master is responsible for estimating a work package that has a significant amount of uncertainty associated with the time and cost to complete. Due to the uncertainty involved he will be making a low, an average and a high estimate. He is using which estimating approach? Multiple Choice Parametric procedures applied to specific tasks Template method Apportion method Range estimating Correct Learning curve

Range Estimating Range estimating works best when work packages have significant uncertainty associated with the time or cost to complete. Under these circumstances it is a prudent policy to require three estimates: low, average and high.

Which part of the audit report presents major improvement actions that should be made? Multiple Choice Analysis Lessons learned Recommendations Correct Classification Appendix

Recommendations The recommendations section represents major improvement actions that should be made. They often are technical in nature and focus on solutions to problems that surfaced.

The ________ section of the audit report is often technical in nature and focuses on solutions to problems that surfaced. Multiple Choice lessons learned analysis classification recommendations Correct appendix

Recommendations Usually, review recommendations represent major improvement actions that should take place. Recommendations are often technical in nature and focus on solutions to problems that surfaced.

Project management is ideally suited for a business environment requiring all of the following EXCEPT Accountability Flexibility Innovation Speed Repeatability (CORRECT)

Repeatability

Project managers play a key role in developing high-performance project teams. Which of the following is NOT a contributing factor to this role? Multiple Choice Report progress to top management Correct Manage conflict Recruit team members Conduct project meetings Manage a reward system

Report progress to top management Reporting team progress to top management does not aid in the development of high-performance teams.

Which of these is NOT part of the "sociocultural dimension" of project management? Negotiation Resource allocation (Correct) Managing customer expectations Leadership Dealing with politics

Resource Allocation

If a project is small and does not require an elaborate system to assign tasks, which of the following is a good choice? Multiple Choice Responsibility matrix (Correct) Organization breakdown structure Work breakdown structure Priority matrix Process breakdown structure

Responsibility Matrix The responsibility matrix (sometimes called a linear responsibility chart) summarizes the tasks to be accomplished and who is responsible for what on a project.

A project manager notices that $5,560 worth of work that was scheduled to be completed at this time has not been accomplished. She knows this by looking at the Multiple Choice EV. TCPI. SV. Correct PCIB. EAC.

SV An SV of -5,560 would indicate that $5,560 worth of work that was scheduled to be completed at this time has not been accomplished.

Which performance index is the most potentially misleading? Multiple Choice CPI EV CV SV Correct EAC

SV Many times it is determined that a positive SV indicates the project is ahead of schedule and a negative SV indicates that a project is behind schedule. This is not always the case. Schedule variance does indicate if the work that was planned to be completed has been completed, but it doesn't tell you if that work is critical or not. If more work than what was planned was completed, but this work was noncritical, it is possible to have a positive SV and still be behind schedule.

The more autonomy and authority the project manager and project team need to be successful, the more appropriate a dedicated project team or a(n) ________ matrix structure is to manage the project. Multiple Choice weak dedicated strong (Correct) projectized balanced

Strong A dedicated project team or a strong matrix is most appropriate when project consideration factors such as project size, strategic importance, and need for innovation are high.

A matrix in which the balance of authority is strongly on the side of the project manager is described as __________. Multiple Choice weak strong (Correct) functional projectized dedicated project team

Strong When the dominant organization culture inhibits collaboration and innovation, it is advisable to insulate the project team from the dominant culture. Here it becomes necessary to create a self-sufficient project team. If a dedicated project team is impossible because of resource constraints, then at least a project matrix should be used where the project manager has dominant control over the project. In both cases, the managerial strategy is to create a distinct team subculture where a new set of norms, customs, and values evolve that will be conducive to project completion.

__________-related currencies come directly from the project manager's ability to contribute to others' accomplishing their work. Multiple Choice Position Task Correct Relationship Personal Inspiration

Task Task-related currencies come directly from the project manager's ability to contribute to others' accomplishing their work. Probably the most significant form of this currency is the ability to respond to subordinates' requests for additional manpower, money, or time to complete a segment of work.

Risks that can result in a system or process that will not work are known as Multiple Choice technical risks. Correct funding risks. schedule risks. cost risks. unnecessary risks.

Technical Risk Technical risks are problematic; they can often be the kind that cause the project to be shut down.

A project leader has realized that two activities in the project cannot be done at the same time because not enough resources are available. Activity 3 is critical and has a duration of 5 days. Activity 4 has 2 days of slack and a duration of 2 days. How will the project leader decide which activity should be scheduled first? Multiple Choice The activity with the smallest duration The activity with the least slack Correct The activity with the most slack The activity with the lowest identification number The activity with the highest cost

The activity with the least slack Correct The first activity placed in the schedule would be the activity with the least slack (rule 1).

Who is responsible for determining how tasks will be done in a weak matrix project management structure? Multiple Choice The functional manager (Correct) The project manager Both the functional manager and the project manager are responsible There is no rule established for who takes responsibility This is negotiated

The functional manager (Correct) Matrix management is a hybrid organizational form in which a horizontal project management structure is "overlaid" on the normal functional hierarchy. In a matrix system, there are usually two chains of command, one along functional lines and the other along project lines. Instead of delegating segments of a project to different units or creating an autonomous team, project participants report simultaneously to both functional and project managers.

Research indicates that high-performance project teams are much more likely to develop under certain conditions. One of these conditions is that members report solely to __________. Multiple Choice the team leader the project manager Correct their line manager the chief operating officer the project leader

The project manager Team members often report to different managers, and, in some cases, the project manager will have no direct input over performance appraisals and advancement opportunities of team members. This is not a condition typical of a high-performance project team.

When considering risk response development, passing risk to another party instead of changing it is known as ____________ the risk. Multiple Choice transferring Correct escalating avoiding retaining diminishing

Transferring Passing risk to another party is common; this transfer does not change risk. Passing risk to another party almost always results in paying a premium for this exemption.

Researchers have found that high-performance teams have norms for team interaction. Which of the following is NOT one of those norms? Multiple Choice There is no tolerance for bulling a way through a problem or issue. It is acceptable to be in trouble, but not to surprise others. When a decision has to be made, everyone should agree before moving forward. Correct Hard work does not get in the way of having fun. No information is shared outside the team unless all agree to it.

When a decision has to be made, everyone should agree before moving forward. Agree to disagree. When a decision has been made, regardless of personal feelings, move forward.

Which of the following would be an appropriate situation to require facilitating group decision making? Multiple Choice A mechanical engineer is stuck trying to meet performance criteria for a prototype. When strong group commitment is needed to decide methods to reduce project scope. Correct Expectations are unclear regarding a specific task. Dysfunctional conflict between two project team members needs to be resolved. Materials needed to finish a custom kitchen have not been determined.

When strong group commitment is needed to decide methods to reduce project scope. Most decisions on a project do not require a formal meeting to discuss alternatives and determine solutions. Instead decisions are made in real time as part of the daily interaction between project managers, stakeholders, and team members. Group decision making should be used when it will improve the quality of important decisions. This is often the case with complex problems that require the input of a variety of different specialists. Group decision making should also be used when strong commitment to the decision is needed and there is a low probability of acceptance if only one person makes the decision.

Which of the following activities is the best example of a project? Processing insurance claims Producing automobiles Writing a policy manual (Correct) Monitoring product quality Overseeing customer requests

Writing a policy manual

All of the following are ways the WBS helps in managing projects EXCEPT Multiple Choice with cost and time estimates the WBS makes it possible to plan, schedule and budget the project. it provides management with information appropriate to each level. can be used to define communication channels. allows the project manager to establish the overall objective of the project. Correct as it is developed, organizational units and individuals can be assigned responsibility of work packages.

allows the project manager to establish the overall objective of the project. The overall objective of the project must be established before creating the WBS.

Once you have established who the key players are that will determine success, then you initiate contact and begin to build a relationship with those players. Less effective managers Multiple Choice spend the majority of their time outside their office. are able to stay in touch with what is really going on through face-to-face interactions. talk with key stakeholders in attempt to keep abreast of developments and anticipate potential problems. initiate contact to provide encouragement and to reinforce the objectives and vision of the project. announce an open door policy and encourage others to see them when a problem or issue comes up. Correct

announce an open door policy and encourage others to see them when a problem or issue comes up. Less effective project managers eschew MBWA and attempt to manage projects from their offices and computer terminals. Such managers proudly announce an open door policy and encourage others to see them when a problem or issue comes up. To them no news is good news.

Project managers who understand the role that their project plays in accomplishing the organization's strategy will be inclined to do all of the following EXCEPT demonstrate to senior management how their project contributes to the firm's mission. explain to team members why certain project objectives and priorities are critical. explain to stakeholders why certain project objectives and priorities are critical. be able to respond appropriately to delays and/or questions about product design. be able to focus on problems or solutions if the project is a low priority strategically. (Correct)

be able to focus on problems or solutions if the project is a low priority strategically. Project managers who understand the role that their project plays in accomplishing the organization's strategy will not be inclined to waste time focusing on problems that are a low priority in regard to achieving the organization's strategy.

The biggest challenge to managing a virtual project team is Multiple Choice being able to contact team members immediately when there is a problem. getting reports and technical information communicated. dealing with team members in different time zones. developing trust and establishing effective patterns of communication. Correct enforcing deadlines.

developing trust and establishing effective patterns of communication. Two of the biggest challenges involved in managing a virtual project team are developing trust and effective patterns of communication.

A project life cycle is characterized as made up of stages. A major part of the project work, both physical and mental, takes place in the ___________ stage of the project life cycle. conceptual closing defining planning executing

executing A major portion of the project work—both physical and mental—takes place during the executing stage of project life cycle.

One common mistake made early in the risk identification process is to Multiple Choice not consider all possibilities. encourage participants be over optimistic. support participants being over pessimistic. focus on consequences and not on the events that could produce consequences. Correct give too much attention to past events.

focus on consequences and not on the events that could produce consequences. One common mistake that is made early in the risk identification process is to focus on consequences and not on the events that could produce consequences.

In retrospective methodology a facilitator uses several questionnaires to conduct post-project audits. The facilitator acts as a guide who leads the project team through an analysis of project activities. The facilitator must be perceived as _____ and _____. Multiple Choice independent, unbiased Correct informed, intelligent informed, well-trained experienced, well-trained experienced, intelligent

independent, unbiased Correct In retrospective methodology a facilitator uses several questionnaires to conduct post-project audits. The facilitator acts as a guide who leads the project team through an analysis of project activities. The facilitator must be perceived as independent and unbiased.

Maximum Slack

is the largest difference between any activity

EV - Earned value Chapter 13

is the work accoplishes, such as 25% complete % complete * PV or budgeted amt

All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT frequent conflicts between managers. inadequate resources. confused employees regarding which projects are more important. not enough projects within the portfolio to make a profit. Correct people are working on multiple projects and feel inefficient.

not enough projects within the portfolio to make a profit. Frequent conflicts between managers, inadequate resources, confused employees and multitasking are all symptoms of organizations struggling with strategy disconnect and unclear priorities. Typically these organizations are also completing projects with low priority which results in a portfolio that consists of too many projects that do not align with organizational strategy.

When creating a selection model, it is important to make it mathematically complex so it cannot be "gamed". not use it as the final determination for project selection. Correct assure the objectivity of the model. make certain the units used in the model are not inconsistent. keep it secret from those submitting project proposals.

not use it as the final determination for project selection. Correct The selection model should only exist to assist those in making a final determination.

It is common to use the functional organizational model when Multiple Choice there is direct influence from outside organizations. the project manager has functional authority over any of the department heads. project priority is high and an early, fast finish is required. one functional area plays a dominant role in the project. Correct a technical organizational model will not work.

one functional area plays a dominant role in the project. Correct Having a single functional area that has ownership or a significant interest in the success of the project will lend itself to a natural leadership role.

VAC Cost variance at completion

over or under cost?

The estimating approach that is best to use on projects where there is an unusual amount of uncertainty surrounding the project and when it is impractical to estimate times and costs for the entire project is known as ___________. Multiple Choice range estimating parametric procedure template method phase estimating method (Correct) WBS method

phase estimating method (Correct) Some projects by their nature cannot be rigorously defined because of the uncertainty of design or the final product. Phase estimating is used when an unusual amount of uncertainty surrounds a project and it is impractical to estimate times and costs for the entire project.

A Process Breakdown Structure can provide a reasonable alternative to a Work Breakdown structure for an extensive development project if Multiple Choice phase exit criteria are firmly established. (Correct) there are appropriate predecessor relationships in place. deliverables are tightly aligned to milestones. tangible products are being developed. risk planning is included early in the project.

phase exit criteria are firmly established. (Correct) In addition to firm exit criteria, deliverables for each phase need to be well defined.

A project can have a negative schedule variance and still be ahead of schedule when Multiple Choice earned value exceeds planned value. all budget targets have been achieved. actual cost exceeds earned value. None of these alternatives is correct. progress on the critical path is faster than non-critical path tasks. Correct

progress on the critical path is faster than non-critical path tasks. If a Critical Path task is on-track or ahead-of schedule and no other tasks have encroached on the Critical Path, then, by definition the project is at least on or ahead of schedule.

AC Actual cost

sum of the costs incurred in accomplishing work

Refining estimates may be necessary for a number of reasons. For example, design flaws being revealed after the fact, extreme weather conditions, and accidents occurring are good examples of Multiple Choice hidden interaction costs. things going wrong on a project. Correct changes in project scope. normal conditions not applying. uncertain, unstable requirements.

things going wrong on a project. Design flaws are revealed after the fact, extreme weather conditions occur, accidents happen, and so forth. Although you shouldn't plan for these risks to happen when estimating a particular task, the likelihood and impact of such events need to be considered.

An activity's normal time and cost are 10 and $120, respectively. Its estimated crash time and cost are 7 and $180, respectively. What is this activity's crash cost per time unit? Multiple Choice $20 Correct $30 $40 $50 $60

$20 Crash cost per time unit equals the cost slope. Cost slope equals rise/run; therefore (crash cost − normal cost)/(normal time − crash time) or ($180 − $120)/(10 − 7) = $20.

An activity's normal time and cost are 12 and $150, respectively. Its estimated crash time and cost are 9 and $300, respectively. This activity's crash cost per time unit is ________. Multiple Choice $50 Correct $100 $150 $300 $30

$50 Crash cost per time unit equals the cost slope. Cost slope equals rise/run; therefore, (crash cost − normal cost)/(normal time - crash time) or ($300 − $150)/(12 − 9) = $50.

The ________ feedback approach gathers anonymous feedback solicited from others that is compared with the individual's self-evaluations. Multiple Choice survey control creative managerial 360-degree correct

360-degree When feedback is anonymous, solicited from others, compared with the individual's self-evaluations, and the individual may form a more realistic picture of his or her strengths and weaknesses, this is called 360-degree feedback.

Stakeholders such as human resources, information systems, purchasing agents, and maintenance are typically classified as Multiple Choice project sponsors. administrative support Correct functional managers. project managers. customers.

Administration support, such as human resources and information systems, provide valuable support services. At the same time they impose constraints and requirements on the project such as the documentation of expenditures and the timely and accurate delivery of information.

To help establish loyalty among team members, you should become an effective __________ for the project you are on. Multiple Choice communicator consultant advocate Correct stakeholder adversary

Advocate Advocacy for the team and the project will help show the entire team (and by extension stakeholders) that you are committed to the project and will do what it takes to defend it.

A negative cost variance combined with a negative schedule variance is an indicator of Multiple Choice actual cost exceeding earned value. planned value exceeding earned value. budget over-runs. behind schedule. All of these alternatives are correct.

All of these alternatives are correct This is indicating that there are tasks or work packages that are not being delivered on time, and Actual Costs are exceeding Earned Value.

An insensitive project network has the benefit of: Multiple Choice Not increasing risk as activities are initially crashed. Having potential for real cost savings when crashed. Having potential for significant time savings when crashed. Having potential for flexible scheduling. All of these alternatives are correct. Correct

All of these alternatives are correct. Because an insensitive project has a singular critical path, reducing slack does not have near the effect of reducing slack in a sensitive network.

Individual rewards for outstanding work would NOT include Multiple Choice desirable job assignments. All of these are examples of individual rewards for outstanding work. Correct judiciously making exceptions to the rules. letters of commendation. public recognition.

All of these are examples of individual rewards for outstanding work. Correct Letters of commendation, public recognition for outstanding work, desirable job assignments and flexibility are all good examples of individual rewards for outstanding work.

Which part of the audit report examines in detail the underlying causes of problems, issues, and successes relative to the project and includes concise, factual review statements of the project? Multiple Choice Analysis Correct Appendix Classification Lessons learned Recommendations

Analysis Data are collected to record the project history, management performance, and lessons learned to improve future projects. Analysis examines in detail the underlying causes of problems, issues, and successes. The analysis section includes succinct, factual review statements of the project.

The ________ section of the audit report includes concise and factual review statements of the project, such as project scope objectives, quality objectives, cost objectives, and schedule objectives. Multiple Choice analysis Correct recommendations lessons learned appendix classification

Analysis The analysis section includes succinct, factual review statements of the project—for example, scope objectives, quality objectives, cost objectives, and schedule objectives.

Choosing to move a concert indoors to eliminate the threat of bad weather is an example of ____________ a risk. Multiple Choice transferring escalating avoiding Correct mitigating retaining

Avoiding Risk avoidance is changing the project plan to eliminate the risk or condition.

A project selection process that is strongly linked to strategy results in the most profit. better utilization of the organization's resources. more projects. a larger and more diverse organization. stronger core competencies.

Better utilization of the organizations resources Without integration of projects with the strategic plan, resources are poorly utilized. Conversely, organizations that have a link of projects to strategy have more cooperation across the organization, perform better on projects and tend to have fewer projects.

How can a project manager support and encourage functional conflict? Multiple Choice As soon as emotions flare, he or she can intervene and attempt to control conflict because it has become dysfunctional Conflict should not be encouraged or supported By asking tough questions and by challenging the rationale behind recommendations Correct By negotiating a resolution by reasoning and persuasion By imposing a solution to the conflict after listening to each party

By asking tough questions and by challenging the rationale behind recommendations Many times project managers need to encourage healthy dissent in order to improve problem solving and innovation. They can demonstrate this process by asking tough questions and challenging the rationale behind recommendations. They can also orchestrate healthy conflict by bringing in people with different points of view to critical meetings. Project managers should also model an appropriate response when someone disagrees or challenges their ideas. They need to avoid acting defensively and instead encourage critical debate.

MRI Management reserve index

CV/MR

When a project starts with a high priority but it is canceled because its rank erodes or crashes during its project life cycle is an example of what type of project closure? Multiple Choice Premature Changed priority Correct Perpetual Failed project Normal

Changed Priority Organizations' priorities often change and strategy shifts directions. For example, during the 2008-2010 financial crisis organizations shifted their focus from money making projects to cost savings projects. The oversight group continually revises project selection priorities to reflect changes in organizational direction. Projects in process may need to be altered or canceled. Thus, a project may start with a high priority but see its rank erode or crash during its project life cycle as conditions change. When priorities change, projects in process may need to be altered or canceled.

Refining Estimates may be necessary for a number of reasons. For example, a manager getting further into a project and obtaining a better understanding of what needs to be done to accomplish a project and meet the needs of the customer is an example of Multiple Choice hidden interaction costs. things going wrong on a project. normal conditions not applying. changes in project scope. (Correct) there is never a good reason to refine estimates.

Changes in Project Scope As he or she gets further and further into the project, the manager obtains a better understanding of what needs to be done to accomplish the project. This may lead to major changes in project plans and costs. Likewise, if the project is a commercial project, changes often have to be made midstream to respond to new demands by the customer and/or competition.

After reviewing the project scope statement, the owner specifies that costs MUST stay within $400,000. This criterion is classified as Multiple Choice constrained. (Correct) enhanced. accepted. limited. fixed.

Constrained The original parameter is fixed. The project must be completed for $400,000 or less; therefore, cost is constrained.

Interpretation of Indexes

Cost CPI Schedule SPI > 1.00 Under cost Ahead schedule =1.00 On cost On schedule <1.00 Over cost Behind schedule

What is the relationship between organizational culture and estimating? Multiple Choice There is no relationship. Cultural norms affect the accuracy of estimates. Correct Culture determines whether estimates are made. Estimating alters cultural norms. Estimating and culture are independent.

Cultural norms affect the accuracy of estimates. Organizational culture can significantly influence project estimates. Organizations vary in the importance they attach to estimates.

In today's customer-focused organizations, the customer is recognized as the final authority of what constitutes quality. Nevertheless, customer tastes and feature preferences vary from customer to customer. Increased competition has placed a premium on customer satisfaction and the development of __________ products and services. unique quality customized (Correct) creative consistent

Customized

Project managers should manage ___________ conflict. Multiple Choice emotional functional creative dysfunctional Correct diverse

Dysfunctional Members can be upset and dissatisfied with the interchange, but as long as the disagreement furthers the objectives of the project, the conflict is functional. Project managers should realize that conflict is an inevitable and even desirable part of project work; the key is to encourage functional conflict and manage dysfunctional conflict.

CPI cost performance index

EV/AC

Which of the following methods will measure the cost efficiency of the work accomplished to date? Multiple Choice AC/CV EV/AC Correct SV/CV AC/SV EV/PV

EV/AC The CPI is the cost performance index that measures the cost efficiency of the project. Cost performance index (CPI) = EV/AC.

SPI Schedule performance index

EV/PV

________ is simply the percent complete times the original budget. Multiple Choice Cost Performance Index Schedule Performance Index Budget at Completion Earned value Correct Actual cost

Earned Value The earned value for a task is simply the percent complete times its original budget.

The ability or skill to perceive, assess and manage the emotions of one's self and others is called _________ intelligence. Multiple Choice circumstantial diverse emotional Correct critical mature

Emotional Emotional intelligence (EQ) describes the ability or skill to perceive, assess, and manage the emotions of one's self and others.

Which of the following is NOT one of the recommended guidelines for developing useful work package estimates? Multiple Choice Estimates should be made by those responsible for the work. Use several people to estimate the same work. Estimates should be based on normal conditions. Estimates should include a normal level of contingency. Correct Estimates should be independent of other projects.

Estimates should be based on a normal level of contingency Estimates should be made by the individuals responsible for the work, should involve several people with relevant experience and knowledge of the tasks, should be made based on normal conditions and should not include any allowances for contingencies, should be created with consistent time units, and should be independent of other projects.

It can be a significant challenge to keep the project team ___________ as the project nears completion. Multiple Choice working together energetic focused Correct performing

Focused The project manager's challenge is to keep the project team focused on the remaining project activities and delivery to the customer until the project is complete. The closer the team gets to completion, the more natural it is for them to ask "What's Next?" It is just as natural that, if they do know what they will be working on next, they start thinking forward to that new effort.

Which of the choices listed below is NOT considered to be a characteristic of a project? An established objective A clear beginning and end Specific time, cost, and performance requirements for internal use only (CORRECT) Something never been done by a particular comapany before

For Internal use only

Team meetings, co-location of team members, team names, and team rituals are common vehicles when establishing a team _________. Multiple Choice ritual identity Correct characteristic vision discipline

Identity Project managers need to try to make the project team as tangible as possible to the participants by developing a unique team identity to which participants can become emotionally attached. Team meetings, co-location of team members, team names, and team rituals are common vehicles for doing so.

Organization structures have a connection to projects. Which of the following is NOT true of project management structures? Multiple Choice They provide a framework for launching and implementing projects. They appropriately balance the needs of both the parent organization and the project. In selecting a management structure, the culture of the organization is not a huge consideration. Correct The project itself should be considered when determining which structure is best. They help determine who has most authority regarding managing the project.

In selecting a management structure, the culture of the organization is not a huge consideration. Correct When determining which project management structure is most appropriate, organizational culture should be considered. There are often large differences in how projects are managed within certain firms even with similar structures. Researchers attribute this to organizational culture.

As a project is crashed and project duration is reduced, direct costs typically Multiple Choice increase. (Correct) become unstable. decrease. become unreliable. stay the same.

Increase \When project durations are imposed, direct costs may no longer represent low-cost methods. Costs for the imposed duration date will be higher than for a project duration developed from ideal normal times for activities.

Risk assessment derived from WBS and technical analyses and customer input is in place occurs in which of the following Maturity Model Levels? Multiple Choice Formal Application of Project Management Institutionalization of Project Management Correct Management of Project Management System Optimization of Project Management System Ad Hoc Project Management

Institutionalization of Project Management At Level 3: Institutionalization of Project Management, risk assessment derived from WBS and technical analyses and customer input is in place.

A communication plan is a key component for giving guidelines on how to track project ____. Multiple Choice issues. (Correct) costs. defects. Both costs and defects. All of these choices are correct.

Issues Communication plans should also give guidance on coordinating and tracking schedules and action items.

Which of the following is NOT true for strategic management? Multiple Choice It should be done once every few years just before developing the operating plan. Correct It supports consistency of action at every level of the organization. It develops an integrated and coordinated long-term plan of action. It positions the firm to meet the needs of its customers. It involves responding to changes in the external market and allocating scarce resources to improve a competitive position.

It should be done once every few years just before developing the operating plan. Correct Two major dimensions of strategic management are responding to changes in the external environment and allocating scarce resources of the firm to improve its competitive position. Constant scanning of the external environment for changes is a major requirement for survival in a dynamic competitive environment.

A highly visible, interactive management style is when the project manager's behavior symbolizes how other people should work on the project. This is called __________ by example. Multiple Choice engaging leading Correct adjusting managing assessing

Leading Leading by example is a project manager's behavior that symbolizes how other people should work on the project.