Project Management Exam 2

6. You are managing a project that upgrades your production facility. The cost breakdown is as follows: new conveyors 12,550, labor 27,051. Electrical upgrades 9,662, and additional lighting 3,221. The project is scheduled for 17 workdays to complete. It is day 11 and you are currently 57% complete and have spent 33,960.30. What is your cost variance? -4,044.42 .88 4,044.42 -18,523.67

-4,044.42

2. You are managing a project that upgrades your production facility. The cost breakdown is as follows: new conveyors 12,550, labor 27,051. Electrical upgrades 9,662, and additional lighting 3,221. The project is scheduled for 17 workdays to complete. It is day 11 and you are currently 57% complete and have spent 33,960.30. What is the CPI? .88 .65 .43 .57

.88

1. The USD facilities department has finally decided to build another parking lot of alleviate some of the parking problems on campus. The cost breakdown is a s follows: survey 5,000, earthwork and site prep 20,000, paving 25,000, lighting 40,000, and landscaping 7,500, for a total budgeted project cost of 97,500. The project is scheduled for 20 workdays to complete at a budgeted cost of 4,875 per day. It is day 7 and you are 31% complete. What is the TCPI? 1.067 1.1 0.91 1.06

1.06

5. The USD facilities department has finally decided to build another parking lot of alleviate some of the parking problems on campus. The cost breakdown is a s follows: survey 5,000, earthwork and site prep 20,000, paving 25,000, lighting 40,000, and landscaping 7,500, for a total budgeted project cost of 97,500. The project is scheduled for 20 workdays to complete at a budgeted cost of 4,875 per day. After seven days the project is 35% complete. What is the CEV? 34,125 13,928.57 278,581.43 3,412.50

34,125

2. You are managing a project that upgrades your production facility. The cost breakdown is as follows: New Conveyors 12,550, labor 27,051, electrical upgrades 9,662, and addition lighting 3,221. The project is scheduled for 17 workdays to complete. It is day 11 and you are currently 57% complete and have spent 33,960.30. Compute FCAC using CAC+(TBC-CEV)

56,528.42

13. You are managing a project that upgrades your production facility. The cost breakdown is as follows: new conveyors 12,550, labor 27,051. Electrical upgrades 9,662, and additional lighting 3,221. The project is scheduled for 17 workdays to complete. It is day 11 and you are currently 57% complete and have spent 33,960.30. Compute FCAC using TBC/CPI. 59,578.95 59,640.91 80,744.62 92,077.19

59,578.95

. When taking corrective action due to a negative cost variance, a possible solution could be? All answers are correct Substitute less expensive materials Decrease the scope of the project Focus on tasks in the near term

All answers are correct

12. A good practice for estimating activity costs is to? You as the project manager do all estimates Always take sponsor's estimates into consideration Guestimate Have the person responsible do all estimates

Always take sponsor's estimates into consideration

3. When comparing the two methods (CPI and CAC) used for computing the FCAC, it can be seen that one method results in a much higher estimate due to the assumption:____? That CEV will compensate for the cost overrun Your math was correct Remaining work will be completed at the same CPI that the budget and costs will align

The CEV will compensate for the cost overrun

Activities that have a CPI less than 1.0 or a negative CV should receive special emphasis because? They are under budget They are running over budget They are behind schedule They are ahead of schedule

They are running over budget

4. If a risk has a low chance of occuring, it should be managed at? A higher priority Its level of budget cost An equal priority of occuring, it should be managed at? A lower priority

a lower priority

3. In an autonomous organizational structure, each team operates?

a mini-company

7. When estimating total project cost, one cost every project should have is? A slush fund A travel budget A reserve A consultant

a reserve

9. Financial analysis of the project should compare? Actual costs to the budgeted costs Budgeted costs to the forecasted cost at completion Completed payment to planning costs Actual costs to the forecasted cost at completion

actual costs to the budgeted costs

11. As part of controlling the project, the PM tracks? Hope for progress Scheduled progress Actual progress Planned progress

actual progress

6. As a part of controlling the project, the PM tracks? Hoped for progress Scheduled progress Planned progress Actual progress

actual progress

2. Stakeholder concerns should be addressed? Positively All answers

all answers

7. Communication should be? Unambiguous All answers Clear concise

all answers

7. When acquiring the project team, some things the PM considers are? Time commitment of team members How many of each type are required Only two or three answers are correct What skills are needed All answers

all answers

8. Effective teams have all the following characteristics except? All answers Orient on results Trust each other Understand the goal

all answers

2. The reason we establish a knowledge base of lessons learned is to __? All answers are correct No answers are correct Learn from past mistakes

all answers are correct

2. When communicating, a PM should? Provide periodic feedback to the project team Use written communication as the primary means All answers are correct No answers are correct

all answers are correct

3. A post-project evaluation meeting should be held with the customer to? See if the customer is happy with the outcome Inquire as to future business Obtain permission for use as a reference All answers are correct

all answers are correct

7. Collecting documents for archiving is made easier if the project manager? Planned for archiving as part of the budget Assembles the documents as the project is ongoing Has the project team compile them All answers are correct

all answers are correct

9. In order to gain competence, a project manager could? All answers are correct Join a professional organization Get a mentor Talk to more experienced Project Managers

all answers are correct

An effective tool of time management is to? Schedule time gaps to allow for unexpected tasks Make a to do list at the beginning of the day All answers are correct Just say no

all answers are correct

4. Change is initiated by? The project team None of the answers All of the answers Unanticipated occurrences The customer

all of the answers

6. Regarding ethical behavior, it is the PM's responsibility to? Not be constrained by written policies Judge each situation as it occurs and the degree of impact Set the tone and expectations All of the answers

all of the answers

Verbal communication can be? By phone All of the answers Face to face By computer

all of the answers

Some of the project manager's responsibilities when organizing the project are? Determine what can be accomplished in-house All of the answers are correct Delegate responsibility Create an authoritative environment None of the answers are correct

all of the answers are correct

10. The Scrum master is different from a project manager in that they? Are dictatorial Are usually paid more Are servant-leaders Are only concerned with high level details

are servant-leaders

6. A risk matrix is a management tool used for?

assessing and managing risk

5. A risk response plan should? Always be implemented, even if the risk does not occur Only be shared with the project team as a contingency Assign responsibility Not include funding measures

assign responsibility

5. The greatest constraint is the availability of the right resource? In the right amount At the right time At the right price At the right place

at the right time

6. An organizational structure in which each project operates as its own somewhat independent entity is?

autonomous

2. Although it is a method of dealing with conflict, ___ is not recommended. Averting Facing Compromising avoiding

avoiding

3. A risk should be identified? No answers are correct Only during the project execution phase Before the project starts After it occurs

before the project starts

4. ___ reflective of cultural diversity must be considered in communications.

body language and customs

It is a good negotiation if? Both sides win Neither side gets all the things they want You get everything you asked for You get more than you ask for

both sides win

5. Scrum masters have authority over the process but not the? Contract Budget People Schedule

budget

3. Good negotiating skills include? Considering corporate hierarchy Strengthening predispositions None of the answers are correct Building trust All of the answers

building trust

11. Successfully managing cash flow should mean? All answers are correct Cash comes in faster than it goes out Cash comes in at the same rate it goes out Delaying all payments until project closing

cash comes in faster than it goes out

5. Changes such as schedules, contracts, and specifications that happen throughout the project are recorded and tracked by establishing a: Change register Document catalog Change control system Document control system

change control system

The fourth phase of the project life cycle is? Closing Monitoring Executing completion

closing

10. ____ costs are funds that have been obligated for an item that has been purchased but not paid for. Actual Committed Budgeted notional

committed

4. ___ costs are funds that have been spent for an item and might have a charge code. Notional Actual Budgeted committed

committed

6. Written reports should be?

concise, readable, and understandable

6. All of the following are project closing actions except? Document lessons learned Conduct post-project planning Recognize staff Make final payments

conduct post-project planning

3. An advantage of an autonomous organizational structure is?

control over resources

4. A disadvantage of an autonomous organizational structure is?

cost inefficiency

An advantage of a matrix organizational structure is?

customer focus

4. If we have the potential for developing proposals for other projects for the same customer in the future, what information would be of use? Project team evaluations Marketing plans Customers evaluations Current interest rates

customers evaluations

To have an effective meeting, prior to the meeting, the project manager should? All of the answers Include as many topics as possible Decide if a meeting is really necessary Send a meeting notice to all team members

decide if a meeting is really necessary

2. When using the 9-step approach to problem solving, the first step is to? Brainstorm potential solutions Define the problem Ignore the problem

define the problem

An effective project team? Always finds a way to put off until tomorrow what it can do today Is a group of independent individuals Works in isolation to achieve the project objectives Develops and grows into a cohesive team

develops and grows into a cohesive team

4. Scrum is? Simple to master Nonthreatening Difficult to master Great if you are a rugby fan

difficult to master

1. All of the following responses are acceptable to risk except? Accept Discount Mitigate avoid

discount

3.The best way to capture lessons learned is to? Have a final project team meeting and compile them Document while performing the project

document while performing the project

2. A disadvantage of a Matrix Organizational Structure is?

dual reporting relationships

7. Delegating? Causes a loss of control for the PM All of the above None of the above Empowers the project team Allows for cross-leveling the project team

empowers the project team

9. The four stages of team development are?

forming, storming, norming, performing

9. Payments should be made? Frequently At the end of the project No answers are correct Only when costs reach a certain amount

frequently

5. An organizational structure in which individuals are organized in groups that have the same skills is?

functional

2. Inspections should not be so frequent that they? Cause cost overruns Get in the way of work Become the project Cause project variances

get in the way of work

3. Designating a note taker during meetings is useful for? Holding team members accountable Documenting future mistakes Publishing meeting results Boosting the PM's ego

holding team members accountable

5. Written communication should be used to ____ and request.

inform

2. The responsibilities of a project manager are all of the following except? Planning initiating

initiating

10. When developing people, it is important to encourage? Acceptance No answers are correct Submission Individualism initiative

initiative

hapter 13 A disadvantage of a functional organizational structure is?

insularity

9. Another method of Agile Project management in addition to Scrum is? Huddle Scrimmage Kanban waterfall

kanban

3. Half of making communication effective is?

listening

2. An organizational structure which is a hybrid of the others is?

matrix

11. In the final stage of team development, the PM can act in the role of? Follower Team member Mentor leader

mentor

5. Under good management, diversity can lead to? Tempered results More creativity Impeded productivity Intermediate quality problem solving

more creativity

4. Since you seldom have enough resources, it is possible to PM will have to ___ to secure them. Negotiate beg

negotiate

4. Regarding ethical behavior, you should? Not do anything you don't want to see in the news Make sure all whistleblowers have repercussions Not expect team members to watch you and follow your example All answers

not do anything you don't want to see in the news

5. A project manager should never? Listen more than they talk Place the needs of the team ahead of their own Pass up an opportunity for a team member to learn No answers are correct

pass up an opportunity for a team member to learn

4. Which of the following is NOT a type of project meeting Status review meeting All of the answers Project kickoff meeting Post project contracting meeting

post project contracting meeting

3. In scrum, an item that can be called a deliverable in other project management approaches is a/an? Bundle Product Package Artifact

product

6. The scrum team is composed of the following EXCEPT? Product master Scrum master Development Team Product Owner

product master

4. The ___ must be in agreement with the project manager and the project details.

project team

2. The purpose of communicating should be to? Reach understanding Convey your point of view

reach understanding

5. It is important for the project manager verify payment have been? Reconciled with the final CPI All answers are correct Received Recorded at the budget cost

received

4. Holding an event with the project team at the closing of the project allows for? Recognizing staff that did outstanding work Team members to bring up any unresolved issues Networking with the customer to gain additional business A social event to use up any unused funds

recognizing staff that did outstanding work

2. A defined set of actions to prevent or reduce the likelihood of occurrence or the impact of a risk, or to implement if the risk event occurs is a? Risk assessment plan Contingency plan Risk qualification plan Risk response plan

risk response plan

10. Reasons to hold a project kickoff meeting are to? Dictate the PM's rules Good excuse to go out for a beer Set the tone for the project Squelch any potential arguments

set the tone for the project

4. A method to find an aggregate total budget cost is? Sponsor estimate Work package sponsorship Bottom down Top down

sponsor estimate

7. An event that normally lasts two to four weeks, during which specific work must be completed and made ready for review is a? Block Cycle Phase sprint

sprint

8. The four formal events that compose scrum are sprint planning, daily scrum, sprint review and? Scrum review Scrum retrospective Daily review Sprint retrospective

sprint retrospective

6. A good way to handle stress is? Finish work before deadlines Stay physically fit Yell at team members Binge drinking

stay physically fit

3. When having a team building social event, it is important to? Talk about other things besides work Invite your boss Invite the project sponsor Discuss how the team was selected

talk about other things besides work

8. It is important for a PM to function in the role of a? Bystander Team member manager

team member

2. Projects may be ___ before completion for various reasons? Bankrupt Terminated No answers are correct archived

terminated

A post-project evaluation meeting should be attended by? Subcontractors Key customer representatives Stakeholders The entire project team

the entire project team

3. Team building is the responsibility of? All of the answers None of the answers The project manager The project team

the project manager

3. A PM must achieve results? Through the project stakeholder Through the project team None of the answers are correct By segregating and analyzing the actions of the project team By having the knowledge and experience to do everything on the project

through the project team

4. A method to find an aggregate total budget cost is? Sponsor estimate Work package sponsorship Bottom down Top down

top down

If a process is visible to those responsible for the outcome it is said to be? Transmogrified Transparent Observable detectable

transparent

5. It is important for a project manager to create a ___ of successful accomplishment. Specific time frame Vision None of the answers are correct Narrow approach

vision

2. A risk that has a high potential impact to the overall success of the project should be?

Managed according to the risk reaction matrix.