PMG201C - Budgeting and Scheduling Projects

A significant event in a project that may indicate completion of a major phase is a/an: A. Activity B. Work package C. Deliverable D. Milestone

D

Earned value management integrates scope, cost, and schedule measures to: A. assess project performance and progress. B. assess whether all requirements were met. C. develop a preliminary budget. D. assess communication effectiveness among project team members

A

The Process Improvement Plan is: A. A subsidiary, or component of the project management plan. B. The number one component of the project management plan.

A

The discipline of quality management complements the discipline of project management. Both recognize the importance of: A. Customer satisfaction, prevention over inspection, continuous improvement, and management responsibility B. Responsibility of only the sponsor, continuous improvement, and inspection C. Team satisfaction and inspection over prevention D. Company satisfaction, continuous improvement, and management protocol

A

The network diagram is the best tool for demonstrating: A. The sequence of project activities B. Schedule performance over time C. Schedule variances D. Resource requirements

A

To calculate early start (ES) and early finish (EF) perform a: A. Forward pass B. Lateral pass C. Critical pass D. Backward pass

A

When you have good historical information which can be used in a reliable formula or model, you will probably use: A. Parametric estimating B. Analogous estimating C. Exact estimating D. Bottoms up estimating

A

When you schedule work in a specific order because it cannot be completed any other way this is what type of dependency? A. Mandatory B. External C. Internal D. Discretionary

A

Which one of these most correctly defines management reserve? A. Management reserve is not tied to specific work packages it is for the entire project. B. Management reserve is tied to a specific milestone or event. C. Per our lesson, management reserve and contingency are exactly the same. D. Management reserve is tied to specific work packages.

A

If develop online modules needs to finish before review online modules can finish, that is called a: A. Finish to start relationship. B. Finish to finish relationship. C. Start to finish relationship. D. Start to start relationship.

B

In a project schedule, the sequence of activities which cannot be delayed during the course of the project without extending the project end date is referred to as the: A. Schedule baseline B. Critical path C. Action plan D. Slack line

B

Once the logic of a network is laid out, the project manager will conduct a forward pass and a backward pass through the network. This will provide information regarding ______ and will identify the________. A. The high risk activities, non-critical path B. The total duration of the project, critical path C. Resource shortages, high risk activities D. The slack for each activity, high risk activities

B

The WBS is used to derive all but one of the following: A. The project schedule baseline B. The business need for the project C. The project cost performance baseline D. The activity list

B

A work package is a/an: A. Activity that can be assigned to one or more organizational units B. Activity at the lowest level of the WBS C. Deliverable at the lowest level of the WBS D. Required level of reporting

C

An estimate created by looking at a similar project or activity and then adding or subtracting to or from the estimate based on the differences between the two is called: A. Exact estimating B. Bottoms up estimating C. Analogous estimating D. Parametric estimating

C

What description defines Bottoms Up Estimating? A. A technique that analyzes activities on past projects and using them as a basis for estimating costs. B. A technique that uses a mathematical model to estimate costs. C. A technique that involves estimating the cost of individual work packages or individual schedule activities with the lowest level of detail.

C

You are building an apartment complex with four, 10,000 square foot buildings based on the same drawings you used in another city two years ago. What is the danger of estimating using the same parametric model of $50 per square foot? A. It will take much more time than a bottoms up estimating. B. It's not very easy to scale. C. Historical cost relationships may no longer be applicable. D. The technical design is unstable.

C

All of the following are inputs to estimating activity durations except: A. Activity list and activity attributes B. Organizational process assets C. Resource calendars and scope statement D. Requirements specifications

D

When you use the RACI or Responsible, Accountable, Consult, Inform version of the RAM, those who are responsible are: A. Not completing the work B. Providing subject matter expertise C. Supervising the work D. Completing the work

D

You are preparing an estimate of the cost for an IT system expansion for a new branch office location. It is a very similar to the IT system expansion undertaken for a branch office that opened six months ago. Which technique might you use if you are pushed for a quick estimate? A. Bottoms up B. Parametric C. Probabilistic D. Analogous

D

In our lessons the acronym RAM stands for: A. Resource Acquisition Management B. Resource Aligned Management C. Responsibility Accountability Matrix D. Responsible Accountable Manageable E. Responsibility Assignment Matrix

E

True or False: Product quality focuses on the project management processes used to meet project objectives

F

True or False: The Project Budget is equal to only the cost baseline budget.

F

True or False: The critical path is the shortest path through the network and represents the work that can be delayed without delaying the end of the project.

F

True or False: The term resources only refers to people, it does not include money or materials or equipment.

F

True or False: When you are concerned that your estimates might not be correct, especially if you think they are too low, you should pad the estimate and add extra.

F

True or False: If develop online modules must be 100% completed before review online modules can begin, that is called a finish to start relationship.

T

True or False: Performing quality assurance within the context of a project involves applying the planned, systematic quality activities to ensure that the project correctly employs all processes needed to meet project objectives and product requirements.

T

True or False: The S-Curve depicts the relationship between the cost baseline budget and the schedule because it shows the planned cost baseline budget across the planned project timeline.

T

True or False: When it comes to projects, the emphasis is on strategic quality management. Quality is not an accident, quality is part of the plan, and quality is everyone's job.

T