Project Management Exam 2

The first process in developing a project schedule is to identify all the resources available to work on the project.

False

Which of the following is NOT a format that is typically used to represent a Work Breakdown Structure?

c. Requirements Traceability Matrix

All of the following factors must be in place in order to develop an analogous estimate effectively EXCEPT:

An organization must know details behind the time value of money.

Milestones are important points in a project schedule that can serve as check points for project managers and sponsors. Which of the following could be a reason to identify a milestone during project schedule planning?

Completion of the WBS

This term is defined as the total number of work periods (not including holidays or other non-work periods) required to complete a schedule activity, usually expressed as workdays or workweeks:

Duration

A "top-down" approach to creating a WBS is typically used when a project is unique and different from previous projects.

False

A WBS dictionary is a document that defines each of the terms used in the project scope statement.

False

GANTT refers to the Generalized Activity Network Tracking Technique which was developed to better understand how variability in the duration of individual activities impacts the expected project duration.

False

The most common type of logical dependency to determine the sequence of project activities is "finish-to-finish" (FF).

False

The project scope does not come into play when considering fixed and variable cost choices.

False

Analogous estimating is the most detailed, time consuming and accurate way to estimate.

Falsee

A Work Breakdown Structure must be decomposed at least four levels in order to be effective.

Fase

Which of the following responses identifies a common type of logical dependency used to sequence project activities?

Finish to start

Costs that repeat as project work continues such as the cost of writing code or laying bricks are appropriately classified as:

Recurring costs

This technique is an iterative process that identifies and defines the work to be completely accomplished in the near term, and plans the future work at a higher level.

Rolling wave planning

When a project team needs to construct a WBS, it needs to include in its planning team a subject matter expert (SME) who understands how each segment of the work will be accomplished.

TRUE

A Gantt chart is a horizontal bar chart that shows each work activity on a separate line with the bar placed from the early start date to the early finish date for each activity on a timescale.

True

A contingency reserve is money assigned to the project and allocated for identified risks for which contingent responses are developed.

True

A mandatory dependency is a logical relationship between activities that must happen - usually due to a physical or legal demand.

True

A project manager needs to ensure that the cumulative amount of cash coming into the project either from internal budgeting or from customer payments meets or exceeds the demands for paying cash out.

True

A successor activity is the schedule activity that follows a predecessor activity, as determined by their logical relationship.

True

Cost estimating is linked very closely with scope, schedule and resource planning.

True

Fixed costs remain the same regardless of the size or volume of work, while variable costs vary directly with volume of use.

True

If the project manager changes an activity on the critical path to start at a later date, then the whole project will end at a later date.

True

It is important to assign a unique name and a unique number to every component in the project Work Breakdown Structure.

True

Once the plan baseline has been approved and the project is underway, project teams deal with change by establishing and using a change control system to receive and review change proposals and accept or reject them after evaluating their impact on project scope, cost and schedule.

True

Plan Cost Management is the process to determine how to plan, estimate, and control project costs.

True

Regardless of what method is used to estimate project costs, supporting detail should be provided.

True

The Work Breakdown Structure (WBS) is normally developed by listing deliverables - major deliverables first and then progressively smaller ones until the team feels that every deliverable has been identified.

True

The priority of the product in agile is more significant than in traditional project management, as the outcome, or product, will drive the elaboration of the project.

True

The project scope is the work that must be performed to deliver a product, service or result with the required features and functions.

True

The project scope statement establishes the project boundaries by stating what features and work elements are included (in scope) and which are excluded (out of scope).

True

To use the enumeration method of determining the critical path, we list or enumerate all of the paths through the network.

True

Value engineering is aimed at increasing the value or productivity of a work element while minimizing the cost.

True

Vendor bid analysis is used to determine whether the price being asked by the vendors appears to be reasonable.

True

When developing a project schedule, total float refers to the amount of time a schedule activity may be delayed from its early start date without delaying the project end date.

True

While the lowest level of decomposition in a WBS is the work package, work packages can still be decomposed further into work activities.

True

It is helpful to list requirements and supporting information in a requirements traceability matrix. When requirements are complete, they should meet all of these criteria EXCEPT:

a. Assigned to a team member who will be the requirement owner

All of the following items describe an aspect of life cycle costing EXCEPT:

a. Life cycle cost only includes the project cost from initiating through closing

All of the following elements should be included in a project scope statement EXCEPT:

a. names of the project team members

Faced with significant schedule challenges, the project manager has an ethical responsibility to do all of the following EXCEPT:

a. willingly accept end dates dictated by customers or sponsors

Projects often include indirect costs that are necessary to keep the organization running, but are not associated with one specific project. Which of the following items are most typically considered to be indirect costs?

b. executive salaries, utilities and insurance

A _______ is the approved project plan mainly consisting of scope, schedule, and cost that is not normally altered unless a formal change control request is approved for modifying these plans.

baseline

There are many causes of variation in project costs. Which of the following accurately describes the nature of this variation?

c. Variation occurs in all work processes and the novelty associated with most projects creates many opportunities for variation.

A _________ is a written request or formal proposal to propose changes to any project planning component such as a document, project deliverable, or baseline (scope, cost, and time).

change request

The _________is the approved budget, usually in a time distribution format, that is used to estimate, monitor, and control the overall cost performance of the project.

cost baseline

During which of the following Project Schedule Management processes does the team estimate the number of work periods that will be required to complete a schedule activity, usually expressed as workdays or workweeks?

d. Estimate activity durations

The method of dividing the project scope into many parts that, when combined, would constitute the project deliverable is called _____:

decomposition

The documentation of a project cost estimate generally requires substantial supporting detail to include all of these EXCEPT:

management reserve needs

The overall project is considered to be the first level of the WBS. All of the following methods can be used to organize the second level of the WBS EXCEPT:

organized by activities and tasks

Which of the following terms best describes extra money in the project budget to be used if necessary - usually if a risk event occurs?

padding

Which estimating technique uses a statistical relationship between historical data and other variables (e.g., square footage in construction, lines of code in software development) to calculate an estimate for scope, cost and duration?

parametric estimating

On agile projects, the scope definition begins with

requirements

The work component at the lowest level of the WBS for which cost and duration can be estimated and managed is called the ______:

work package