itm - not this one 2

A project manager and the project team identify several specific risks in a project. The expected value of these risks is estimated at $10,000. The impact on the project brought about by these risks is estimated at $40,000. What value should be entered into the management reserve for these risks?

$0

A project manager and the project team identify several specific risks in a project. The expected value of these risks is estimated at $10,000. The impact on the project brought about by these risks is estimated at $40,000. What value should be entered into the contingency reserve for these risks?

$10,000

A project manager is managing a project that has reached the end of planning phase. The work scope has been agreed to and definitive cost estimates have been completed for the project. The total estimated cost of the project is $100,000. It is reasonable to expect that the project will not cost over which of the following value?

$110,000

A project manager is managing a project. The original scope baseline of the project was budgeted at $100,000. Since work on the project started there have been seventeen authorized and approved changes to the project. The changes have a value of $17,000 and the cost of investigating them prior to their approval was $2,500. What is the current budget for the project?

$119,500

A large piece of equipment is needed for the project. It will be retained and used after the project is completed. The equipment has a value of $500,000, and it has a scrap value of $50,000 at the end of its useful life of ten years. If the sum of the years' digits method of depreciation is used, what is the depreciation that is taken at the end of the third year?

$65,250

A task was scheduled to use two persons, full time, and take two weeks to complete.Instead, the project manager was only able to assign one person to this task. At the end of two weeks, the person assigned to the task was 75% complete. What is the cost performance index?

1.5

May 6

5 0 A B E G H May 12 ( it is as per 1 start method. 0 start and 1start method only difference is that ES and LS or different by 1 day. In this one start method is more appropriate. You can understand by both figues) Twenty May 7 No change to project completion date May 1 Precedence diagram

A project manager is considering applying learning curve theory to his project. The project involves designing a number of software modules that are very similar. According to the cost figures that have been collected the first unit required 100 person-hours to design and test. The second unit required 90 person-hours to design and test. How many person-hours will the eighth module take to design and test?

73

You are the manager of a research group that is developing a new chemical material. You hire a person from a competing company who has a great deal of expertise in this area. The person contributes greatly to the progress of your project. During conversation with the person you determine that many of this person's ideas were developed by the competing company. What do you do?

Accept the new ideas

32.3

Additional Note: This is option C (32.3) as you will need to find out the critical path for each possibility and then calculate the total number of days to complete the project. Then find out EV by formula (O+P+4M)/6. (O-28, P=38, M=32) 34.28 to 30.39 Additional Note: Find out values of EV,SD and activity variance of each activity on critical path. Sum up acitivity variance and take square root of the same. it is SD for project. To find out range ot time of completion for 95% is 2SD. 2.8 .166

A project manager wants to make a trip to California by car. The project manager knows someone who has made this trip before. This person has a similar car to the one that the project manager has, and the person has kept good records on the money spent for fuel on the trip. The distance that the project manager will travel is 10% farther than the other person's trip. By multiplying the cost of fuel reported by the other person by 1.1, the project manager is performing what kind of estimate?

Analogous

Learning curve theory emphasize that in producing many goods:

Average unit cost decreases as more units are produced

What factors need to be known in order to be able to calculate the ETC?

Budget at completion, earned value, and actual cost

A project manager for the quality department is trying to solve a problem with a machine that makes die cast aluminum parts that are used in automobiles. These parts are frequently made with defects. The project manager has decided to hold a meeting to discuss the process of making the parts. He creates a diagram that has branches that show the possible causes of the problems. Each of the branches breaks the cause down into more and more detail. This diagram is called a:

Cause and effect diagram

Any numbering system that is used to monitor project costs by category such as labor, supplies, or materials, for example, is called

Chart of accounts

A project manager from the quality control area is trying to categorize the number of mistakes that are made in the area that paints the right front fender of the Mercedes 560 SL. She list all the possible defects on a sheet of paper and asks the inspector to make a mark each time one of the listed defects is found. This is an example of using which of the following quality tools?

Check sheet

In a manufacturing process that is being controlled by control charts there are variables occurring that will affect the process output. Variations in the process that are considered to be normal process variables are called:

Common causes

A project is proposed to a customer. Price and schedule for delivery are agreed upon. The work breakdown structure is agreed to as well. The customer requests that one of the milestones of the project be completed by a certain date. The project schedule is reviewed, and it is found that the expected completion date for this milestone is considerably earlier that the date requested by the customer. The date for this milestone is which of the following?

Constraint

The act of doing anything that will help to bring future project performance into line with the project plan is called:

Corrective action

The primary benefits of meeting quality requirements are:

Cost and delays are reduced, production improves, market share increases, and profits go up

The project management team should be aware that modern quality management complements modern project management. For example, both disciplines recognize the importance of:

Customer satisfaction

A project manager has discovered a problem and is trying to determine the cause. The process whereby he identifies the variables that have the most influence on the project by holding all the variables constant and changing one at a time is called:

Design of an experiment

During the life of a project, the project will go through several phases - initiating, planning, execution, and closeout. Which phase of the project is likely to have the greatest amount of its funding spent?

Executing

The project manager decided to improve the predicted completion date for the project by doing in parallel several of the activities that were scheduled to be done in sequence.

Fast tracking

If a project manager were to make Thanksgiving dinner, two of the activities that might be of concern would be roasting the turkey and baking the sweet potatoes. In order to ensure that these two items will be finished cooking and will come out of the oven at the same time, what type of relationship should he or she use in the schedule between these two activities?

Finish - finish

Schedules are used in many ways. In a project to build a bridge the project manager wants to use a tool that will show the scheduled activities in such a way that it is easy to see when each activity starts and finishes and which activities are taking place at the same time. Which tool should be used?

Gantt chart

A category or rank given to products that have the same functional use but different technical characteristics is called the product's:

Grade

A project manager is managing a large project and must consider the application of a quality management plan. One of the critical factors in such a plan is the cost of implementing the plan. The project manager should:

Implement quality improvements as long as the benefits outweigh the costs

According to the ideas behind modern quality management, quality improvements should be made:

In small incremental steps

Work results, quality checklists, operational definitions, and the management plan are:

Inputs to quality control

Lifecycle costing:

Is a method of including all of the cost associated with the project over its entire life

One of the fundamental tenets of quality management is that quality:

Is planned in and not inspected in

The Japanese developed a method of modern quality management that relies on continuing small improvements involving everyone from the top management to the lowest level worker in the organization. This is called:

Kaizen

A project is formed to produce a product that will be used for transporting people. Costs that are associated with the project that occur after the delivery of the product to the customer are considered to be what kind of cost?

Life cycle cost

Crashing the schedule means:

Making the project shorter by any economic means

The process of establishing clear and achievable objectives, measuring their achievement, and adjusting performance in accordance with the results of the measurement is called

Management by objectives

Which of the following is considered to be a simulation technique?

Monte Carlo analysis

To distinguish top-down estimates from bottom-up estimates, it would be correct to say that the bottom-up estimate would be:

More accurate

Five tasks are scheduled to be completed in sequence. Each task has a finish-start relationship with the next task. Each has one day of total float. As of today, task one and two have been completed on schedule. How many days of float remain in the schedule of these tasks?

One

A project manager has been asked by the client to meet the promise date of the project. The project manager analyzes the schedule before promising a date to the customer. The project manager uses the program evaluation and review technique to evaluate the project schedule. She decides that based on the PERT calculations she can promise a delivery date of June 30. The expected value of the project completion date is May 30. If the project manager is willing to accept a 5% probability that the project will be delivered later than June 30, what is the standard deviation of the duration of the activities on the critical path? Assume a five-day workweek.

One-half month

The quality manager of a company wishes to analyze the data that is coming to him in the form of a list of defects that have occurred in the shipping department. The report comes with defects listed chronologically as they occurred, the cost of the repair necessary to correct each defect, the person involved, and a description of the defect. The manager would like to determine which of the defects should be corrected first according to the frequency of the defect occurring. He should use which of the following quality tools?

Pareto diagram

The main difference between the two types (ADM, arrow diagramming method, and PDM, precedence diagramming method) of the critical path method (CPM) of scheduling is:

Placement of the activity on the logic diagram line

A manager who manages a group of related projects is called a:

Program manager

The coordinated undertaking of interrelated activities directed toward a specific goal that has finite period of performance is a:

Project

A project manager is employed by a construction company and is responsible for the furnishing of the completed building. One of the first things that the project manager for this project should do is to write a:

Project charter

The totality of characteristics of an entity that bear on its ability to satisfy stated or implied needs is the definition for:

Quality

A large project is being worked on by a large company. The client is interested in knowing how the company will be able to meet the quality needs of the project. In order to satisfy this request of the client the project manager arranges a meeting between the client and the:

Quality assurance manager

The process required to ensure that the project will satisfy the needs for which it was undertaken include all activities of the overall management function that determines the quality policy, objectives, and responsibilities and implements them by means such as quality planning, quality control, quality assurance, and quality improvement, within the quality system. This is called:

Quality management

A control chart is being used to control a manufacturing process. As part of the control a sample of five parts is taken from the manufacturing process each hour of operation. Each of the five parts is measured and the dimension is recorded on the worksheet. The difference between the highest and lowest measured dimension of the five parts is plotted on the control chart. This is called which of the following values?

R

Resource leveling will generally:

Reduce the over utilization of resources

An example of scope verification is:

Reviewing the performance of an installed software module

Decomposing the major deliverables into smaller, more manageable components to provide better control is called:

Scope definition

The time-phased cost of the project that reflects the expenditures rather than the consumption of a resource that will be used to measure and monitor cost performance on a project is the:

Spending plan, which is the plan for the flow of money to pay for the project

A project manager makes a narrative description of the work that must be done for her project. This is called

Statement of work

In terms of earned value reporting, a project is considered complete when:

The BAC is equal to the EV

The original schedule (for a project, a work package, or an activity). Plus or minus approved changes, is called:

The baseline schedule

A new project has begun. The project charter has been written and the project manager has been assigned. The project manager is preparing the work breakdown structure for the project. The WBS is typically used for:

The basis for organizing and defining the total scope of the project

Which of the following choices would be an acceptable cause for "rebaselining" a $10 million project?

The client has authorized a $10,000 addition to the scope of the project

One of the important advantages of using control charts in managing a production operation is that the control chart tells you when to take corrective action on the process being controlled. Another important result of using control charts is:

The control chart tells you when you should not take corrective action

The calculation of the EAC assumes that:

The cost performance index will remain the same for the remaining part of the project

Which of the following is true?

The critical path is the list of activities that have zero float

A project manager is reviewing the scope of the project and the scope baseline of the project. This includes which of the following?

The original scope of the project plus or minus any scope changes

A project team receives an approved change request from customer. The team has previously estimated that the cost to implement this change is $10,000. The customer has agreed to pay this amount for the additional work. The customer realizes that there is a 50 percent chance that this change will not work and will later be removed. What change, if any, should be made in the budget?

The project budget should be increased by $10,000

A project manager has just become the manager of a project. The document that recognizes the existence of the project is called:

The project charter

The document that is proof of upper management's commitment to the project and gives the authority to manage the project to the project manager is called:

The project charter

The project schedule is not used to determine:

The project's budget A project manager wants to make a trip to California by car. The project manager knows how many miles it will be to drive to California, the current price of gasoline, and how many miles the car will go on a gallon of gasoline. From this information he or she can calculate the estimated cost of the gasoline for the trip. This is a form of what kind of estimating technique? Parametric

Configuration management is:

The set of procedures developed to ensure that project design criteria are met

During the course of the project it is important that the stakeholders be informed of the progress of the project. One of the reports that is frequently used is a progress report. Which of the following is true about progress report?

They allow stakeholders to judge the performance of the project according to its plan

What characteristic best describes the cost baseline?

Time-phased budget for the project

According to Deming and Juran most of the quality problems that exist are due to a defect or failure in processes that are controlled by:

Upper management

Decisions as to the types of projects that should be accomplished and strategic plans as to the quality of the projects that are required should be the decision of which of the following?

Upper management

A project manager works in a company favoring the weakest authority for the project manager the type of organization that holds the project manager to be the weakest is:

Weak matrix organization

A project manager is creating a work breakdown structure for her project. In the work breakdown structure, the lowest level of the breakdown for the project manager is called:

Work package

In a very large project having a budget of $5 million and a project team of over one hundred persons, the project manager constructs a work breakdown structure. The project manager will do the WBS to the detail level of which of the following?

Work package

A control chart is being used to control a manufacturing process. As part of the control a sample of five years is taken from the manufacturing process each hour of operation. Each of the five parts is measured, and the dimension is recorded on the worksheet. The average of the five parts is plotted on the control chart. This is called which of the following values?

X bar

Which of the following is the example of a conflict of interest?

You are the owner of a company that is supplying parts to a project that you are managing

As the manager of the production department where electrical circuits are being made you observe the inspection station where the completed printed circuit assemblies are being inspected. In this operation the inspector takes the printed circuit assembly and

puts it into a fixture. The fixture is part of the testing machine that has three digital readouts. The inspector records the readings on the three digital readouts on his inspection report. This is an example of: Variable inspection

A construction company is being measured by the earned value reporting method. During the project one of the tasks, installing ten elm trees, was completed. The planned value for this task was $4,000, and it was completed two weeks ago. Unfortunately for the contractor, maple trees should have been planted. The customer insists that maple

trees be planted and that the elm trees be removed. As of this time the elm trees are still in the ground, but the contractor has agreed to do the work of replacing them. What action should be taken on the earned value report? Reduce EV by $4,000