pm

Which statement is true of bottom-up estimates? a. They are based on the actual cost of a previous, similar project. b. They are also known as parametric estimating. c. They are most accurate when they involve large, extensive work items. d. They are time-intensive and expensive to develop.

d. They are time-intensive and expensive to develop.

Which provide a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format? a. Gantt charts b. Critical path analysis c. Arrow diagramming method d. PERT analysis

a. Gantt charts

Which costs are difficult to measure in monetary terms? a. Intangible costs b. Direct costs c. Tangible costs d. Fixed costs

a. Intangible costs

Which is true of the schedule performance index (SPI)? a. It can be used to estimate the projected time to complete the project. b. It means that a project is behind schedule if an SPI is greater than one. c. It means that a project is ahead of schedule if SPI is lesser than one or hundred percent. d. It is the ratio of planned value to actual costs.

a. It can be used to estimate the projected time to complete the project.

Which tool can best help in efficient communication management? a. Kick-off meetings b. Impact matrices c. Requests for quotes d. Fast tracking

a. Kick-off meetings

Which network diagramming technique uses boxes to represent activities? a. PDM b. CPM c. ADM d. PERT

a. PDM

Which statement is true of contingency reserves? a. They allow for future situations that can be partially planned for. b. They are also known as unknown unknowns. c. They are not included in a cost baseline. d. They allow for dollar amounts to be used to cover existing, fixed costs.

a. They allow for future situations that can be partially planned for.

Which is true of dummy activities? a. They have long durations. b. They show logical relationships between activities. c. They have a large range of resources. d. They have limited time periods.

a. They have long durations.

Which is an output of schedule control? a. change requests b. activity attributes c. resource requirements d. milestones lists

a. change requests

The main goal of which process is to produce a cost baseline for measuring project performance and project funding requirements? a. cost budgeting b. cost planning c. cost controlling d. cost estimating

a. cost budgeting

Which is an output of the process of controlling costs? a. cost forecasts b. project funding requirements c. basis of estimates d. scope baselines

a. cost forecasts

In project schedule management, the main goal of which process is to ensure that the project team has complete understanding of all the work they must do as part of the project scope so they can start scheduling the work? a. defining activities b. estimating activity durations c. estimating activity resources d. controlling the schedule

a. defining activities

Which process in project schedule management involves identifying the specific tasks that the project team members and stakeholders must perform to produce the project deliverables? a. defining activities b. sequencing activities c. developing the schedule d. estimating activity durations

a. defining activities

Which process involves allocating the overall cost estimate to individual work items to establish a baseline for measuring performance? a. determining the budget b. finalizing policies for project costs c. controlling costs d. estimating costs

a. determining the budget

Newtech Inc. hires John for the position of a software programmer to work on their new project. Salary paid to John by Newtech Inc. would be an example of which type of costs? a. direct b. indirect c. sunk d. intangible

a. direct

Which term is used for a significant event on a project that normally has no duration? a. milestone b. activity attribute c. activity sequence d. schedule baseline

a. milestone

Which is one of the main outputs of estimating activity resources process? a. project documents update b. milestone list c. breakdown structure d. activity duration estimate

a. project documents update

Fast tracking is an example of a tool used in _____ management. a. schedule b. quality c. communication d. risk

a. schedule

During which relationship is the "from" activity unable start until the "to" activity is started? a. start-to-start b. finish-to-finish c. finish-to-start d. start-to-finish

a. start-to-start

What term is used for the amount of time an activity can be delayed from its early start without delaying the planned project finish date? a. total slack b. free float c. backward pass d. forward pass

a. total slack

The role of a _____ is to provide direction and funding for a project. a.project sponsor b.project manager c.support staff member d.project team

a. Project Sponsor

Galaxy, a construction company, buys a particular brand of tiles manufactured by Tiles and Floors, an eco-friendly tile manufacturing company. However, Tiles and Floors has declared bankruptcy and closed down. At present, Galaxy is facing a crisis because there are no other manufacturers in the market that supplies eco-friendly tiles. Which constraint is Galaxy currently facing? a. Resources b. Time c. Scope d. Cost

a. Resources

Which method is used for determining the estimated annual costs and benefits for a project? a. Critical path analysis b. Cash flow analysis c. Present value analysis d. Requirements analysis

b. Cash flow analysis

Which statement is true of a order of magnitude estimate? a. It is used to allocate money into an organization's budget. b. It provides an estimate of what a project will cost. c. Its timeframe is always less than a year prior to project completion. d. It is a type of estimate that is done in the final stages of a project.

b. It provides an estimate of what a project will cost.

Which reserves allow for future situations that are unpredictable? a. Contingency reserves b. Management reserves c. Known unknowns d. Cost baseline reserves

b. Management reserves

Which is most likely to be a reason for inaccuracies in information technology cost estimates? a. Estimates take a long time to be worked out. b. People lack estimating experience. c. Human beings are biased toward overestimation. d. Only software development provides the scope for estimates to be accurate.

b. People lack estimating experience.

Which statement is true of tangible costs? a. They cannot be calculated in monetary terms. b. They can be easily measured. c. They are difficult to quantify. d. Their examples include goodwill and prestige.

b. They can be easily measured.

Which technique is used for making cost and schedule trade-offs to obtain the greatest amount of schedule compression for the least incremental cost? a. dependency b. crashing c. critical chain scheduling d. feeding buffers

b. crashing

Which type of estimate should be used if the cost estimate for a project is used a basis for contract awards and performance reporting? a. budgetary b. definitive c. rough order of magnitude d. analogous

b. definitive

In project schedule management, what is the next step after defining project activities? a. planning schedule management b. determining their dependencies c. controlling the schedule d. estimating activity duration

b. determining their dependencies

In project schedule management, which process involves analyzing activity sequences, activity resource estimates, and activity duration estimates to create the project schedule? a. planning schedule management b. developing the schedule c. controlling the schedule d. defining activities

b. developing the schedule

Which dependencies are sometimes referred to as soft logic and should be used with care because they may limit later scheduling options? a. mandatory b. discretionary c. external d. inherent

b. discretionary

Which statement best defines cost variance? a. planned value plus actual costs b. earned value minus the actual cost c. rate of performance minus earned value d. planned value minus the rate of performance

b. earned value minus the actual cost

What is the purpose of a cost performance index (CPI)? a. indicate that a project is under budget if CPI is less than one b. estimate the projected cost of completing the project c. indicate that the planned and actual costs are equal if CPI is more than one d. estimate the ratio of earned value to planned value

b. estimate the projected cost of completing the project

. How does critical chain scheduling protect tasks on the critical chain from being delayed? a. critical paths b. feeding buffers c. dummy activities d. fast tracking

b. feeding buffers

The critical path is the _____ path through a network diagram, and it represents the _____ amount of slack or float. a. longest; longest b. longest; shortest c. shortest; longest d. shortest; shortest

b. longest; shortest

What does the process of controlling costs primarily involve? a. determining the policies for project costs b. managing changes to the project budget c. finalising the procedures for project costs d. determining a basis for estimates

b. managing changes to the project budget

Which type of estimating uses project characteristics in a mathematical model to estimate project costs? a. rough order of magnitude estimating b. parametric c. bottom-up d. analogous

b. parametric

What is the first step in project cost management? a. allocate project cost estimates to individual material resources b. plan how costs will be managed c. control project costs and monitor cost performance d. develop several estimates of costs for different types of resources

b. plan how costs will be managed

In project schedule management, which process primarily involve identifying and documenting the relationships between project activities? a. defining activities b. sequencing activities c. planning schedule management d. estimating activity durations

b. sequencing activities

Which is an input of the process of controlling costs? a. cost forecasts b. work performance data c. change requests d. scope baseline

b. work performance data

Project procurement management mainly involves: a. making effective use of the people involved with the project. b. Buying goods and services for a project from outside the performing organization. c. generating, collecting, disseminating, and storing project information. d. identifying and analyzing stakeholder needs while managing and controlling their engagement.

b. Buying goods and services for a project from outside the performing organization.

Which is a similarity between scope control and schedule control? a. Both are initial processes of project time management. b. Both of their primary goals is to define project goals and milestones. c. Both are portions of the integrated change control process under project integration management. d. Both of these processes should occur before estimating activity durations.

c. Both are portions of the integrated change control process under project integration management.

Soles is a footwear company which has recently set up its store in Ambrosia. To manufacture its products, Soles incurs a range of different costs. Which would be an example of an indirect cost? a. Cost of machines to produce shoes b. Salary paid to factory workers c. Electricity used to run its factories d. Cost of leather used to manufacture shoes

c. Electricity used to run its factories

Which technique involves doing activities in parallel that one would normally do in sequence? a. Critical chain scheduling b. Crashing c. Fast tracking d. PERT analysis

c. Fast tracking

Which tool is most likely to be used in project schedule management? a. Payback analysis b. Impact matrices c. Gantt charts d. Fishbone diagrams

c. Gantt charts

Which statement is true of project management? a. It is a simple discipline with a limited scope. b. It has specific tools which work universally across all kinds of projects. c. It does not guarantee successes for all projects. d. Its framework consists solely of project management knowledge areas.

c. It does not guarantee successes for all projects.

Which is true of a finish-to-finish dependency? a. It is a dependency in which the "from" activity cannot start until the "to" activity or successor is started. b. It is a dependency in which in which the "from" activity must finish before the "to" activity or successor can start. c. It is a dependency in which the "from" activity must be finished before the "to" activity can be finished. d. It is a dependency in which the "from" activity must start before the "to" activity can be finished.

c. It is a dependency in which the "from" activity must be finished before the "to" activity can be finished.

Which is true of earned value? a. It is the actual cost plus the planned cost. b. It is based solely on the total cost estimate to be spent on an activity. c. It is an estimate of the value of the physical work actually completed. d. It is also known as the planned value.

c. It is an estimate of the value of the physical work actually completed.

Which law states that work expands to fill the time allowed? a. Murphy's Law b. Miller's Law c. Parkinson's Law d. Einstein's Law

c. Parkinson's Law

Which project management knowledge area is an overarching function that affects and is affected by the different knowledge areas? a. Project cost management b. Project stakeholder management c. Project integration management d. Project communications management

c. Project integration management

Which statement is true of analogous estimates? a. Their main disadvantage is that they cost more than other techniques. b. They are the only technique which do not require expert judgement. c. They are most reliable when previous projects are similar in fact with current projects. d. They use project characteristics in a mathematical model to estimate project costs.

c. They are most reliable when previous projects are similar in fact with current projects.

What type of estimate is a cost estimation tool that involves estimating individual work items or activities and summing them to get a project total? a. budgetary b. parametric c. bottom-up d. analogous

c. bottom-up

In project schedule management, which process primarily involves checking and managing changes to the project schedule? a. estimating activity durations b. developing the schedule c. controlling the schedule d. estimating activity resources

c. controlling the schedule

In project schedule management, the ultimate goal of which process is to provide a basis for monitoring project progress for the time dimension of the project? a. defining activities b. sequencing activities c. developing a schedule d. estimating activity resources

c. developing a schedule

Which dependencies involve relationships between project and non-project activities? a. mandatory b. discretionary c. external d. inherent

c. external

What is the latest possible time an activity might begin without delaying the project finish date? a. early finish date b. late finish date c. late start date d. early start date

c. late start date

Team building exercises and motivation techniques are tools used in _____ management. a. procurement b. scope c. resource d. cost

c. resource

Good Earth, a company manufacturing packaged food products, sets up its stores in Baltonia. However, a year later, the company closes the store down due to high operating costs. In such a scenario, the money spent in paying for the rent of the store in Baltonia would be an example of which costs? a. recurring b. direct c. sunk d. intangible

c. sunk

Which statement best describes the difference between an activity list and an activity attribute? a. As opposed to an activity attribute, an activity list provides resource requirements and constraints related to activities. b. An activity list provides a more concrete list of milestones for a project than an activity attribute. c. An activity attribute is a tabulation of activities to be included on a project schedule whereas an activity list is not. d. An activity attribute provides more schedule-related information about each activity than an activity list.

d. An activity attribute provides more schedule-related information about each activity than an activity list.

What is an accurate difference between the Program Evaluation and Review Technique (PERT) and critical path method (CPM)? a. CPM addresses the risk associated with duration estimates whereas PERT does not. b. Unlike CPM, PERT estimates only when there is no risk of uncertainty. c. CPM involves more work than PERT because it requires several duration estimates. d. PERT uses different duration estimates whereas CPM uses one specific duration estimate.

d. PERT uses different duration estimates whereas CPM uses one specific duration estimate.

An important tool for project scope management is _____. a. fast tracking b. a kickoff meeting c. a Gantt chart d. a work breakdown structure

d. a work breakdown structure

Which type of estimate uses the actual cost of a previous, similar project as the basis for estimating the cost of the current project? a. definitive estimates b. parametric estimates c. bottom-up estimates d. analogous estimates

d. analogous estimates

In an AOA network diagram, what occurs when two or more activities follow a single node? a. combinations b. buffers c. mergers d. bursts

d. bursts

After working with key stakeholders to define activities and calculate their resources, what is the next process in project schedule management? a. develop the schedule. b. control the schedule. c. determine their dependencies. d. estimate the duration of activities.

d. estimate the duration of activities.

In project schedule management, which process involves estimating the number of work periods that are needed to complete individual activities? a. defining activities b. sequencing activities c. planning schedule management d. estimating activity durations

d. estimating activity durations

Which process involves developing an approximation of the costs of resources needed to complete a project? a. determining the budget b. finalising the cost baseline c. controlling costs d. estimating costs

d. estimating costs

What term is used for the amount of time an activity can be delayed without delaying the early start date of any immediately following activities? a. forward pass b. backward pass c. fast tracking d. free slack

d. free slack

. Which statement is true regarding indirect costs? a. directly related to performing the project. b. those that cannot be allocated to projects. c. those that can be easily controlled by managers. d. not directly related to the products or services of a project.

d. not directly related to the products or services of a project.

What is another term used for budget? a. earned value b. actual cost c. indirect cost d. planned value

d. planned value

A _____ is a tool used in risk management. a. work breakdown structure b. project organizational chart c. critical path analysis d. probability matrix

d. probability matrix

Which document is most likely to include planned project start and end dates which serve as the starting points for a detailed schedule? a. resource breakdown structure b. milestones list c. organizational process assets update d. project charter

d. project charter

What type of management includes the processes required to ensure that a project team completes a project within an approved budget? a. project scope management b. project quality management c. project time management d. project cost management

d. project cost management

How are profits best defined? a. expenses plus net income b. costs plus revenues c. revenues plus expenses d. revenues minus expenditures

d. revenues minus expenditures

Which project management knowledge area ensures that the project will satisfy the stated or implied needs for which it was undertaken? a. Project cost management b. Project time management c. Project risk management d. Project quality management

d. Project quality management

Steve, an engineer in a construction company, is at present working on a home construction project. The home is being built for the Robinson family, the owners of the home. Steve is working with his project team and support staff to ensure the project is completed on time. In such a scenario, the project sponsor is _____. a. Steve b. the support staff c. the project team d. the Robinson family

d. The Robinson family

Which project management knowledge area primarily involves generating, collecting, disseminating, and storing project information? a. Project cost management b. Project procurement management c. Project time management d. Project communications management

D. Project communications management

Which characteristic highlights a difference between projects and operations? a. Projects are undertaken to sustain an organization's business whereas operations are not. b. Operations are undertaken to create unique products, services, or results whereas projects are not. c. Projects are temporary endeavors whereas an organization's operations are ongoing in nature. d. Operations have well-defined objectives whereas projects do not need to have a unique purpose.

Projects are temporary endeavors whereas an organization's operations are ongoing in nature.

Which of the following is true of program managers? a. They report to project managers who represent the next level in the hierarchy. b. They recognize that managing a program is simpler than managing a project. c. They provide leadership and direction for project managers heading the projects within a program. d. They are responsible solely for the delivery of project results.

They provide leadership and direction for project managers heading the projects within a program.

Which statement best defines schedule variance? a. earned value minus the planned value b. earned value minus the actual cost c. planned value plus the earned value d. planned value plus the rate of performance

a. earned value minus the planned value

Which type of dependencies are inherent in the nature of work being performed on a project? a. mandatory b. discretionary c. external d. random

a. mandatory

Which knowledge area involves defining and managing all the work required to complete the project successfully? a. Project resource management b. Project scope management c. Project time management d. Project cost management

b. Project scope management

A _____ is a tool used in quality management. a. probability matrix b. checklist c. request for proposal d. critical path analysis

b. checklist

Which technique involves network diagramming and is used primarily to predict total project duration? a. Gantt chart b. critical path analysis c. resource breakdown structure d. arrow diagramming method

b. critical path analysis

In project schedule management, which process generates the main outputs of an activity list, activity attributes, and a milestone list? a. sequencing activities b. defining activities c. resource estimating activities d. estimating activity durations

b. defining activities

What type of estimate is used for making many purchasing decisions for which accurate estimates are required and for estimating final project costs? a. budgetary b. definitive c. rough order of magnitude d. final

b. definitive

What term is used for analogous estimates? a. bottom-up b. top-down c. parametric d. budgetary

b. top-down

Which dependencies do AOA network diagrams use? a. start-to-start b. finish-to-start c. finish-to-finish d. start-to-finish

b. finish-to-start

Which objective is true of projects? a. They have an indefinite beginning and end. b.They have a unique purpose. c. They are developed using regressive elaboration. d. They are permanent in nature.

b.They have a unique purpose.

Which process results in a cost baseline as a main output? a. cost controlling b. cost estimating c. cost budgeting d. cost planning

c. cost budgeting

Work performance information and cost forecasts are main outputs of which process? a. cost budgeting b. cost estimating c. cost control d. cost pricing

c. cost control

Which process helps develop an accurate projection of a project's financial expenses and benefits? a. critical path analysis b. fast tracking c. life cycle costing d. crashing

c. life cycle costing

. What is the first process involved in project schedule management? a. defining activities b. estimating activity durations c. planning schedule management d. sequencing activities

c. planning schedule management

What is a rough order of magnitude estimate also referred to as? a. definitive b. budgetary c. final d. ballpark

d. ballpark

What type of estimate is a cost estimation tool used to allocate money into an organization's budget? a. budgetary b. definitive c. rough order of magnitude d. ballpark

a. budgetary

Variances are calculated by subtracting the actual cost from which value? a. earned value b. schedule variance c. planned value d. rate of performance

a. earned value

Where would a draft schedule for a project most likely be found? a. project buffer b. project charter c. resource breakdown structure d. project's dummy activities list

b. project charter

In project schedule management, which is an output of controlling the schedule? a. activity duration estimate b. project management plan update c. activity attribute d. milestones list

b. project management plan update

In which of the following areas of management is payback analysis most likely to be used? a. Resource b. Communication c. Cost d. Quality

c. Cost

Which is a similarity between the crashing and fast tracking? a. both spread out tasks over a long period of time to ensure the quality of work is maintained b. both invariably result in increases in total project costs c. both can shorten the time needed to finish a project d. both are network diagramming techniques used primarily to predict total project duration

c. both can shorten the time needed to finish a project