Project Management Practice Quiz - Chapter 11

As a project manager setting a budget, you factor in unexpected costs that may arise during the project. What budgeting strategy does this refer to?

Adding a buffer and reserves

As a project manager, you're interested in working with vendors in a way that is collaborative and places an emphasis on relationships. What procurement management process should you choose?

Agile

As a project manager creating a budget, you're thinking about all the parts of a project from beginning to end—making a list of every material, resource, and contract worker. What do you call this type of budgeting?

Bottom-up approach

Which of the following are steps in the procurement process? Select all that apply

Controlling Contract writing Initiating

At what phase in the procurement process would a project manager define project resources and make the case for obtaining them?

Initiating

Fill in the blank: Typically, a project manager organizes a budget by _____. Then, the project manager lists tasks alongside each task's associated costs.

Milestone

As a project manager selecting a vendor, you first need to outline the details and requirements of your project in order to solicit bids. Which procurement document helps with this task?

Request for proposal (RFP)

Which section of the statement of work (SoW) includes details about what the service entails and may include major project activities?

Scope

As a project manager, you're seeking a procurement approach that outlines clear workstreams, hard deadlines, and financially protects your project against unforeseen circumstances. Which procurement approach should you choose?

Traditionals

As a project manager, you research and source for a specific service. You then have to manage that relationship. This is known as what type of procurement?

Vendor management

Additional Source

https://nishithbd.blogspot.com/2021/07/project-planning-putting-it-all.html