OSM3200 exam 2

The "method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model" is called the

Critical path method

The lowest-level of the WBS is known as a _____________________.

Work package

A critical path activity has ________ float during the planning process.

Zero

Recurring costs typically occur during the _____________________ phase of a project.

execution

For a cake baker, ingredients such as flour and eggs are examples of __________________ costs while her oven is an example of a _______________ cost.

variable, fixed

The sponsor, project manager and team can establish powerful relationships with key stakeholders. This starts with an understanding of what motivates each stakeholder, which can be summarized by the old saying ______:

what's in it for me?

In a RACI chart the single individual who will have to provide an explanation if something goes wrong is indicated with a(n) __________________:

Accountable

Jason, a project manager, is working with his team to estimate the total cost of developing a web-based CRM system. After reviewing the planned scope of work with Jason, his sponsor suggests that Jason use the budget from a previous, similar project as the basis for is project budget. The estimating process that Jason's sponsor is using is called _____________

Analogous estimating

One of the key responsibilities of a project manager is to manage stakeholder expectations. It is important for the project manager to have interpersonal or "soft" skills that include: overcoming resistance to change, resolving conflict, active listening and ________:

Building trust

_________________________ is used to formally document changes made to the project.

Change control system

______________ and __________ ______________ are two techniques that are used to compress project schedules.

Crashing and Fast Tracking

When performing resource leveling, it is helpful for the project manager to consult both the _______________ _________________ ______________________ and the ________________ _________________________.

Critical path schedule, Resource histogram

Which of the following is NOT a common WBS organizational format?

Cross-functional work

The process of breaking the WBS into smaller and smaller deliverables is called:

Decomposition

The Midlands Company is eager to develop a project schedule. They have already completed the scope statement, work breakdown structure and schedule management plan. What is the next thing they should do in order to start creating a project schedule?

Define activities

__ is "the process of aggregating the estimated costs of individual activities or work packages to establish an authorized time-phased project budget or cost baseline".

Determine budget

Activity cost estimates, the basis of estimates and other supporting detail are outputs of which process?

Estimate Costs

A Project Management Plan is a formal document that defines how the project is executed, monitored and controlled.

False

Establish independent agendas can be used to build relationships within the core project team and among stakeholders.

False

It is possible to completely avoid variation in a project. True or false.

False

A "schedule compression technique in which activities or phases normally done in sequence are performed in parallel for at least a portion of their duration" is referred to as ______.

Fast Tracking

A ______is used to compare actual project spending with planned expenditures over time to determine if corrective action is needed.

Funding limit budget

A(n) ______________ _______________ is often used to show resource assignments

Gantt Chart

Using a(n) _____________________ can help a project manager identify if workers are overloaded.

Histogram

a staffing management plan" is called:

Identify Stakeholders

The key output of the scope planning process is an approved version of the scope baseline. After this baseline is established, it can be referenced during project execution (once the project is in flight) in order to:

Identify changes in scope that will go through formal change control procedures

One of the principle benefits of creating a bottom-up estimate during planning is that the estimate:

Is very accurate

What is an advantage of using the "program evaluation and review technique" (PERT) when estimating the duration for an activity?

It helps to clarify the range of uncertainty around the expected duration

Which of the following statements about a work package is true?

It is the most detailed level of the WBS.

Which of the following statements accurately describes a project management plan?

It may be a general, summary document or quite detailed.

The amount of project budget reserved for unforeseen project work that addresses the "unknown unknowns" that can affect a project is the ____________________.

Management reserve

Most project meetings are formal, planned events between project stakeholders. Effective meetings typically have a purpose, a pre-arranged time and place, a list of attendees and their roles, and an agenda with topics and issues to be discussed. After the meeting, _______ are circulated.

Meeting minutes

Significant events in the project lifecycle that have zero duration and that do not consume resources are called ________.

Milestone

As the project progresses from initiation through planning and executing, and additional detail is gathered, the range of values for the project cost estimate will:

Narrow

With resource leveling, _________________ activities are often delayed first.

Non-critical

1. The "process that establishes the policies, procedures, and documentation for planning, managing, expending, and controlling project costs" is referred to as:

Plan Cost Management

The "process of identifying and documenting project roles, responsibilities, required skills, reporting relationships, and creating

Plan Human Resource Management

To help ensure project support, it is important to involve workers in the _______________ phase of the project.

Planning

When planning the resources needed for a project, the project manager typically focuses on:

Planning, Equipment, Material

Another term for "Activity on Node", the most commonly used technique for constructing a schedule model, is:

Precedence diagramming method

Which of the following statements accurately describes the approach that project managers should take to develop relationships with key stakeholders?

Project managers should seek to understand what motivates each stakeholder.

A grid that links product requirements from their origins (e.g. business reason needed, stakeholder who requested them) to the deliverables that satisfy them is referred to as a ____________________________________.

Requirements traceability matrix

Critical chain project management is a technique which uses both the predecessor-successor relationship and _______________ _________________ to calculate the project's critical chain.

Resource Availability

After creating a Staffing Management Plan, the project manager and team might create a chart that provides a visual representation of project resource needs by type of resource and time period (weeks, months etc.) This chart is called a ____________.

Resource Histogram/Graph

When the demand for resources is greater than the available supply, the project manager can use a scheduling method that adjusts the start and finish dates of activities in order to address resource limits or constraints. This technique is called: ___________:

Resource Leveling

_________________ is any form of schedule network analysis in which scheduling decisions are driven by resource constraints.

Resource leveling

A(n) ______________________ is a tool which is used to show resource assignments.

Responsibility Matrix

An iterative planning technique where "the work to be accomplished in the near term is planned in detail, while the work in the future is planned at a higher level", is referred to as ________________:

Rolling wave planning

What is uncontrolled change know as?

Scope creep

A "component of the project management plan that describes how the scope will be defined, developed, monitored, controlled and verified" is the _______.

Scope management plan

Cost estimating is closing linked with __________________, _______________________, and ______________________.

Scope, Schedule, resource planning

Recognition and rewards _____________.

Should be included in the project's Staffing Management Plan

The process of "systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project" is called:_________________________________

Skate analysis

A ______ addresses when and how project team members will be acquired and how long they will be needed.

Staffing management plan

The "project document that includes the identification, assessment and classification of project stakeholders" is called the _____________.

Stakeholder register

During WBS creation the product and project deliverables are broken down into progressively lower levels of detail. Once the WBS has been defined at the second or third level of detail, whose input is essential in order to break down the work further?

Subject matter experts

One of the challenges during the event planning process is to ensure that managers do not mix ________.

Summary tasks (events) with the specific tasks (activities) needed to produce them

A project manager needs two types of skills, __________________________ and _________________, to successfully resource a project.

Technical and Behavioral

The components of a project communications management plan should typically include the purpose of the communication, structure (format, content etc.), methods or technologies to be used, and _______:

Time frame and frequency

It is important that project managers calculate the ___________________ of money when considering costs in the future.

Time value

A framework that identifies project deliverables best describes a project Work Breakdown Structure (WBS).

True

Communications to stakeholders are necessary to help them make good decisions.

True

____ is used to determine whether a vendor's bid is reasonable.

Vender bid analysis

Before a project schedule can be created, a _____________________ must first be made

WBS

The process where project deliverables and project work are subdivided into smaller and smaller pieces is called _________________________:

WBS

What does the acronym WBS stand for?

Work breakdown structure

______ is a method in which transactions are recorded when then the expense is actually occurred.

accrual accounting

____ estimates are often created during the beginning of the project and likely to be less accurate than later estimates.

cash accounting

The budget within the cost baseline that is allocated for identified risks, for which mitigating responses are developed, is called the __________________________.

contingency reserve

Which of the following is NOT a characteristic of an activity?

d. It is one of the deliverables at the lowest level of the WBS

The Work Breakdown Structure (WBS) is a framework that will be used as a basis for further planning activities including:

developing the project schedule, developing the project cost estimate and identifying project risks

In order for a new grocery store to be erected, a neighborhood basketball court located on the building site will have to be demolished. The neighborhood children who liked to play basketball there could be considered as _________ stakeholders.

external

It is best to only have one person assigned primary responsibility for an activity. True or false?

false

It is better to begin cost negotiations with project stakeholders before conducting a cost estimate. True or false.

false

To reduce the total project duration, activities that are on the noncritical path must be reduced. True or false?

false

___ costs do not depend on the size of the project.

fixed

Project stakeholders can be prioritized based on a number of factors, including one of the following

impact

The salary of a Vice President of an organization is an example of a(n)____________ cost while the salary of an electrician hired to work on a construction project is an example of a(n) ___________ cost.

indirect, direct

A point or matter in question or in dispute, not settled or over which there are opposing views or disagreements is called a(n) _____:

issue

________ estimates are often created during the beginning of the project and likely to be less accurate than later estimates.

order of magnitude

Which cost estimating technique requires the organization to use a larger amount of information, analogous estimating or parametric estimating?

parametric estimating?

Which of the following activities can be used to build relationships within the core project team?

regularly celebrate small successes

Project management plans generally include which of the following elements?

schedules and budgets, communications, risks and quality considerations

Communications from stakeholders are important for which of the following reasons?

to determine project requirements, to identify and resolve issues and to provide feedback on project progress and results

The process "Estimate Activity Resources" involves identification of the ___ and ___ of resources required for each activity within a work package.

types; quantities