Project Management Exam 2

a big picture view of the cost of a project over its entire existence is _________________. a. WBS b. life cycle costing c. networking view d. JAD costing

b. life cycle costing

In MS project, the tool that is used to establish sequencing among the activities is the __________________. a. indent arrow on the tool bar b. linking tool on the tool bar c. resource assignment tool d. insert link menu item under the insert tab

b. linking tool on the tool bar

If a company loses $7 for every $100 in revenue for a certain product, what is the profit margin for that product? a. -7 percent b. 7 percent c. -$7 d. $7

a. -7 percent

Which of the following processes in project time 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 e. Controlling schedule

a. Defining activities

You cannot start editing a technical report until someone else completes the first draft. What type of dependency does this represent? a. finish to start b. start to start c. finish to finish d. start to finish

a. Finish to start

__________ is a probabilistic scheduling technique while ____________ is deterministic, with ___________ being most widely used in commercial software. a. PERT, CPM, CPM b. CPM, PERT, CPM c. CPM, PERT, PERT d. PERT, CPM, PERT

a. PERT, CPM, CPM

Which of the following is not something that we ordinarily estimate? a. Quality b. Resources c. Time d. Cost

a. Quality

What is easier, quicker to develop? a. Skills b. Competencies

a. Skills

______________ involves working with stakeholders to create the document that formally authorizes and announces a project. a. developing the project charter b. developing the preliminary project scope statement c. developing the project management plan d. performing integrated change control

a. developing the project charter

a key tool for controlling project costs is _________________. a. earned value analysis b. network diagram c. JAD d. CPM

a. earned value analysis

In MS project, by default any link between tasks is assumed to be _____________. a. finish/start b. finish/finish c. start/finish d. start/finish

a. finish/start

In MS project, the tool that is used to designate subordination as displayed in the WBS is ______________. a. indent arrow on the tool bar b. linking tool on the tool bar c. resource assignment tool d. insert link menu item under the insert tab

a. indent arrow on the tool bar

Which tool or technique for collecting requirements is often the most expensive and time consuming? a. interviews b. focus groups c. surveys d. observation

a. interviews

You are preparing a cost estimate for a building based on its location, purpose, square feet, number of rooms, number of bathrooms and other characteristics. What cost estimating technique are you using? a. parametric b. analogous c. bottom up d. top down

a. parametric

Which of the following processes involves determining the polices, procedures and documentation that will be used for planning, executing, and controlling the project schedule? a. planning schedule management b. defining activities c. estimating activity resources d. activity sequencing

a. planning schedule managment

In project time management, which of the following processes primarily involve identifying and documenting the relationships between project activities? a. sequencing activities b. defining activities c. resource estimating activities d. estimating activity durations

a. sequencing activities

Cost or benefits that are easily measured in dollars are called _________________. a. tangible b. intangible c. baseline d. time adjusted

a. tangible

_______________ analysis is a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time. a. Cost of capital b. Net present value c. Cash flow d. Payback

b. Net present value

Estimating processes occur within what process group, what life cycle phase? a. Initiating b. Planning c. Executing d. Monitoring and controlling

b. Planning

Which is more expensive and costly to the firm? a. Over-estimation b. Under-estimation

b. Under-estimation

A ___________ is a deliverable oriented grouping of all the work involved in a project that defines the total scope of the project. a. scope statement b. WBS c. WBS dictionary d. Work package

b. WBS

In project time management, which of the following processes generate 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

Which of the following statements is false? a. a resource breakdown structure is a hierarchical structure that identifies the projects resources by category and type b. duration and effort are synonymous terms c. a three pointe estimate in PERT includes and optimistic, a most likely, and a pessimistic estimate d. a gantt chart is a common tool for displaying project schedule timeline.

b. duration and effort are synonymous terms

As the project manager for a software development project, you are helping to develop the project schedule. You decide that writing code for a system should not start until users sign off on the analysis work. Further, you decide that testing of a module will not commence until the entire module has been coded and compiled. What type of dependency is this? a. internal b. mandatory c. discretionary d. external

b. mandatory

Project managers are expected to be _______________ whereas project players are expected to be _____________. a. very focused, multitasking b. multitasking, very focused c. good at carving code, good communicators d. None of the alternatives is correct

b. multitasking, very focused

Developing a ______________ is a planning process that occurs in the Project Integration Management knowledge area. a. schedule management plan b. project management plan c. WBS d. quality management

b. project management plan

Which of the following costs has to do with appraisal? a. training costs b. testing and inspection costs c. rework costs d. liability costs

b. testing and inspection costs

Which of the following statements is false? a. probability distibuation for pert activity durations are represented by use of the beta distribution. b. the critical path is the series of activities that determine the earliest time by which a project can be started. c. a forward pass through a project network diagram determines the early start and early finish dates for each activity d. fast tracking/crashing is a technique for making cost and schedule trade offs to obtain the greatest amount of schedule compression for the least incremental cost.

b. the critical path is the series of activities that determine the earliest time by which a project can be started.

Payback occurs when _____________. a. the net cumulative benefits minus costs equal one b. the net cumulative benefits equal the net cumulative costs c. the net costs are lower than the cumulative benefits d. the cumulative benefits are double the cumulative costs

b. the net cumulative benefits equal the net cumulative costs

cost is a resource ______________. a. that is usually reported on project b. to balance against schedule and scope c. best shown by the project schedule d. none of these alternatives is correct.

b. to balance against schedule and scope

What is the main goal of project cost management? a. To complete a project for as little cost as possible b. to complete a project within an approved budget c. to provide truthful and accurate cost information on projects d. to ensure that an organization's money is used wisely

b. to complete a project within an approved budget

Scope _________ is often achieved by a customer inspection and then sign-off on key deliverables. a. acceptance b. validation c. completion d. close out

b. validation

Assume you have a project with major categories called planning, analysis, design, and testing. What level of the WBS would this items fall under? a. 1 b.2 c. 3 d. 4

b.2

The total effort for a project is calculated to be 24 person months. Four capable persons are assigned to the project. There is no mandatory or other sequencing required in the project. What is its total duration likely to be ? a. 24 months b. 12 months c. 6 months d. 3 months

c. 6 months

________________ is a network diagramming technique used to predict total project duration a. a resource sheet b. a gantt chart c. Critical path method d. crashing

c. Critical path method

Which of the following is true about the agile method? a. It is often used when a project team can express the scope early in the product life cycle b. It is used when a project team wants to provide a potentially shippable product earlier rather than later c. It uses several iterations or deliveries of software instead of waiting until the end of the project to provide a product d. It is used when project teams want to use the predicative approach to a project

c. It uses several iterations or deliveries of software instead of waiting until the end of the project to provide a product

Estimating processes occur within two knowledge area. They are: a. Scope, Time b. Time, Quality c. Time, Cost d. Cost, Quality e. Procurement, Risk

c. Time, Cost

What type of diagram shows planned and actual project schedule information? a. a network diagram b. a resource sheet c. a tracking gantt chart d. a milestone chart

c. a tracking gantt chart

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

c. controlling the schedule

____________ is a deterministic diagramming technique used to predict total project duration a. PERT b. a gantt chart c. cpm d. crashing

c. cpm

As discussed in class, the cost to fix a defect ____________ over time and becomes exorbitant once the defect _______________. a. decreases linearly, is found b. increases linearly, ' walks out the door' c. increases exponentially, ' walks out the door' d. decreases exponentially, is found

c. increases exponentially, ' walks out the door'

A project is in the executing phase and is 75% done with execution but significantly behind schedule. The best approach would be to _____________. a. use crashing b. use Goldratt c. inform all stakeholders d. Both a and c are correct

c. inform all stakeholders

_______________ reserves allow for future situations that are unpredictable to get included in the project budget a. actuarial b. financial c. management d. baseline

c. management

The first process involved in project time management is ___________. a. defining activities b. estimating activity durations c. planning schedule management d. sequencing activities

c. planning schedule management

____________ refers to all the work involved in creating the products of the project and the processes used to create them. a. deliverables b. milestones c. scope d. product development

c. scope

Money that has been spent in the past is known as a _______________. a. constrained cost b. indirect cost c. sunk cost d. direct cost

c. sunk cost

Analogous estimating amounts to _______________. a. bottom-up estimation b. expert judgement c. use of a past similar project d. All of these alternatives are correct

c. use of a past similar project

The _____________ provides a basis for creating the project schedule and rolling up costs for measuring project performance. a. scope statement b. cost management plan c. work breakdown structure d. project charter

c. work breakdown structure

Tools and techniques used to plan cost management include _____________. a. expert judgement b. analytical techniques c. meetings d. All of these alternatives are correct

d. All of these alternatives are correct

The fact that the time required to complete a task fills up the time allotted for it is ____________. a. due to corporate cultures that dis-reward early finishes b. known as Alzheimer's law c. known as Parkinson's law d. Both a and c are correct

d. Both a and c are correct

____________ costs are costs related the amount of time and resources allocated to completion of the project, whereas ____________ costs are such items as overhead, pension and healthcare plans, etc. a. Indirect, direct b. Direct, sunk c. Sunk, indirect d. Direct, indirect

d. Direct, indirect

In project time management, which of the following processes involve calculating the number of work periods that are needed to complete individual tasks? a. Defining activities b. Sequencing activities c. Planning schedule management d. Estimating activity durations e. Controlling schedule

d. Estimating activity durations

When should inexperienced persons be used to estimate? a. When no one else is available b. When the project is new c. When there is no history database d. Never

d. Never

Predecessors, successors, logical relationships, leads and lags, resource requirements constraints, imposed dates, and assumptions are all examples of ______________. a. items in an activity list b. terms on a gantt chart c. milestone attributes d. activity attributes

d. activity attributes

In MS project, by default, working weeks are assumed to be a. eight hour days b. five day work weeks c. no work on Saturdays or Sundays d. all of these alternatives are correct.

d. all of these alternatives are correct.

In order to see total project duration and total project cost as well as meta - task durations and costs, it is recommended that you _____________. a. include a project summary task as your first task under which all other tasks are subordinate. b. insert a cost column in the entry table c. replace the entry table with the cost table in the gantt view d. both a. and b. are correct

d. both a. and b. are correct

Which of the following is/are likely to appear as inputs to the plan processes? a. enterprise environmental factors b. resources breakdown structure c. organizational process assets d. both a. and c. are correct

d. both a. and c. are correct

Administrative activities, such as archiving project files, closing out contracts, documenting lessons learned, and receiving formal acceptance of the delivered work as part of the phase or project, are often involved in ___________ processes. a.initiating b. executing c. monitoring and controlling d. closing

d. closing

The _________ process involves gaining stakeholder and customer acceptance of the final products and services and bringing the project, or project phase, to an orderly end a. planning b. executing c. monitoring d. closing

d. closing

Accountants usually define ___________ as a resource sacrificed or forgone to achieve a specific objective or something given up in exchange . a. money b. liability c. trade d. cost

d. cost

What approach to developing WBS involves writing down or drawing ideas in a nonlinear format? a. top down b. bottom up c. analogy d. mind mapping

d. mind mapping

Almost all knowledge area have a ____________ process and a ___________ process. a. plan, estimate b. estimate, control c. plan, schedule d. plan, control

d. plan, control

The implication of the cost of quality taxonomy discussed in class was to ______________. a. spend more money on appraisal so as to incur less in the way of external costs due to bugs and software defects b. spend more money on prevention so as to incur less in the way of internal costs due to bugs and software c. spend more money on appraisal so as to incur less in the way of internal costs due to bugs and software defects d. spend more money on prevention so as to incur less in the way of eternal costs due to bugs and software defects

d. spend more money on prevention so as to incur less in the way of external costs due to bugs and software defects.