Student Review Ch 5 - 8
An activity has a duration of 10 days. Its early start is 4 and its late start is 6. This activity has ____ days of total slack
2.
*Which of the following represents an activity on an activity-on-node (AON) project network
A node
*A key distinction between a risk response and a contingency plan is
A risk response is part of the actual implementation plan and action is taken before the risk can materialize, while a contingency plan goes into effect only after the risk has transpired.
*Refining estimates may be necessary for a number of reasons. For example, a manager getting further into a project and obtaining a better understanding of what needs to be done to accomplish a project and meet the needs of the customer is an example of
Changes in project scope.
If, for some reason, the project must be expedited to meet an earlier date, which of the following actions would the project manager take first
Check to see which activities are on the critical path.
*Which of the following is NOT one of the basic rules to follow when developing project networks
Conditional statements are allowed but looping statements are not allowed.
The top-down method of estimating when the pooled experience of senior and/or middle managers are used to estimate the total project duration and cost is the ____ method
Consensus.
*Companies are using which of the following for improving the estimating process for future projects
Creating historical databases of previous projects.
*An activity that has more than one dependency arrow flowing into it is termed a(n)
Critical path.
What is the relationship between organizational culture and estimating
Cultural norms affect the accuracy of estimates.
*If a project has more than one activity that can begin when the project is to start, a common start node should be used to indicate a clear project beginning on the network. Without a common start node, each path is a
Dangler path.
*Which of the following is NOT one of the more common problems associated with scheduling multiproject resources
Decline in project quality.
*All resource leveling techniques involve
Delaying noncritical activities.
*Based on the following, which event should you be most concerned about
Design flaw.
Which of the following is provided by both the project network and the work breakdown structure
Activity duration.
Typical kinds of costs found in a project include all of the following EXCEPT
All of these are examples of costs found in a project.
Change management systems are designed to accomplish all of the following EXCEPT
All of these are examples of what change management systems are designed to accomplish.
*Which of the following is NOT included in a Failure Mode and Effects Analysis
All of these are included.
Which of the following groups should NOT be a part of the risk identification process?
All of these groups can be included in the risk identification process.
These are all guidelines a project manager should consider when assigning project work EXCEPT
Always assign the best people to the most difficult tasks.
*Rose is working on estimates for a project that is very similar to a previous project, in that it has many of the same features and those features have similar costs. Each feature or deliverable will represent the same percentage of the total cost as it did for the previous project. Rose is using the ____ method of top-down estimating
Apportion.
Which of the following top-down methods is used when projects closely follow past projects in regard to features and costs of those features, and result in costs being assigned by percentages to major segments of the project
Apportion.
In a project network, ____ indicate activity dependency and project flow
Arrows.
After your team has successfully identified potential risks that could affect the project, what is the next step
Assess identified risks.
Tools such as a risk assessment form and a risk severity matrix are used to
Assess risks.
*Adopting proven technology instead of experimental technology in order to eliminate technical failure would be an example of which risk response
Avoiding.
Which of the following is NOT true in regard to the level of detail estimates should contain
Detailed estimates are crucial to project success; therefore, an effort should be made to make estimates as detailed as possible for all projects.
____ is a measure of how easy it would be to notice that a risk event was going to occur in time to take mitigating action, that is, how much warning you would have
Detection difficulty.
*The salary of the project manager would be an example of what type of cost found in a project
Direct project overhead.
Which of the following correctly calculates the early finish for an activity
ES + DUR.
Which of the following correctly calculates the late start for an activity
ES - SL.
The backward pass in project network calculations determines all of the following EXCEPT
Earliest time an activity can finish.
The forward pass in project network calculations determines all of the following EXCEPT
Earliest time an activity can finish.
A special truck that George needs on his project has been scheduled on another project. This is an example of what type of resource constraint?
Equipment.
Which of the following is NOT involved in risk control
Establishing contingency funds.
Which of the following is NOT one of the recommended guidelines for developing useful work package estimates?
Estimates should include a normal level of contingency.
The process of forecasting or approximating the time and cost of completing project deliverable is called
Estimating.
*As long as everyone in a project adds a little padding to reduce risk, the project duration and cost estimates will be more accurate
False.
*If a project is internal to the company and relatively small, the bottom-up approach to estimating time and costs for the project is the best choice
False.
*If the project has a duration of 13 days, the project should be completed 13 days from the day it starts
False.
*Performance bonds, warranties, and guarantees are financial instruments used to share risk.
False.
*Project managers should always assign the best people to the most difficult tasks
False.
*Resource leveling or smoothing is only used on projects which are resource constrained
False.
*Risk management is a reactive approach that is designed to ensure that surprises are reduced and that negative consequences associated with undesirable events are minimized
False.
*Sequential activities hold just as much potential for resource conflicts as parallel activities.
False.
*Since resource leveling or smoothing delays noncritical activities, a common result is a decrease in network sensitivity
False.
*Splitting is a scheduling technique used to get a better schedule or better resource utilization and should be used without hesitation
False.
*The critical path is the shortest path through a network and indicates activities that cannot be delayed without delaying the project
False.
*The fact that you must pour foundation before you frame the house and that you have to frame the house before you can put on the roof demonstrates scheduling constraints
False.
*The first step in the risk management process is risk assessment
False.
*When considering risk value, the lower the value, the higher the level of risk
False.
A lack of readily available engineers is a technical constraint
False.
A merge activity is one that merges with other activities into a succeeding activity
False.
A project budget report is showing our project as spending $35,000 against a budgeted amount of $40,000. We can assume that everything is going as planned and that we are under budget
False.
Adopting proven technology instead of experimental technology is an example of mitigating a risk
False.
After averaging out the underestimates and overestimates, a long-duration project is more likely to be on target than a short-term, small project
False.
An activity can include only one work package
False.
Enhancing a risk is a tactic that seeks to eliminate the uncertainty associated with an opportunity to ensure that it definitely happens
False.
Estimating the total cost of a house by multiplying the total square feet by cost per square foot is an example of the apportion method of estimating costs
False.
Estimating the total cost of a project by multiplying each major function by a complexity factor is an example of the apportion method of estimating costs
False.
If a project needs one earth mover six months from now in order to complete one activity, and the organization has four such machines, there is no equipment resource constraint
False.
If time and costs are important to a project the top-down approach to estimating time and costs for the project is the best choice
False.
If, during risk response development, you successfully identify how you will respond to a risk, contingency planning is unnecessary
False.
Project estimates should be broken down into as much detail, and with as much accuracy, as possible
False.
Responses to all identifiable risks should be a top priority for the project manager
False.
Risk events that occur in the early stages of a project will have a greater cost impact than those that occur in later stages
False.
The WBS identifies dependencies, the sequencing of activities, and the timing of activities
False.
The backward pass determines project duration
False.
The consensus method of estimating costs is a bottom-up technique.
False.
The forward pass through a project network determines the critical path
False.
The level of resources each activity will need to be completed in the given amount of time has been estimated; therefore, there are no resource constraints
False.
The process of forecasting or approximating the time and cost of completing project deliverable is called planning
False.
The project being delayed is an example of a major risk that should be assessed
False.
The project management structure chosen to manage the project will have little impact on the quality of estimates
False.
The risk identification process should be limited to just the core project team.
False.
The salary of the project manager and her administrative assistant is classified as direct labor costs
False.
When completing a forward pass, you carry the early finish to the next activity where it becomes its early start unless the next succeeding activity is a merge activity. In this case you select the smallest early finish number of all its immediate predecessor activities
False.
When developing a response to a risk by scheduling outdoor work in the summer, investing in up-front safety training, or choosing high-quality materials, these are examples of retaining a risk
False.
When scheduling activities in a resource-constrained project typically the activity scheduled first has the most amount of slack
False.
Work package estimates should include allowances for contingencies
False.
*If testing cannot be completed any earlier than four days after the prototype has been built, what type of lag exists
Finish to Finish.
The requirement for a freshly poured foundation to cure before beginning construction is an example of which of the following type of lag
Finish to Start.
The ____ lag is the most typical type of lag that is encountered in developing networks
Finish-to-start.
All of the following are types of resource constraints EXCEPT
Information.
Which of the following does NOT help describe a bottom-up estimating approach
They are made by someone who uses experience and/or information from someone else to determine overall project cost and duration.
*Which of the following is true about hammock activities
They are used to identify the use of fixed resources or costs over a segment of a project.
Refining estimates may be necessary for a number of reasons. For example, design flaws being revealed after the fact, extreme weather conditions, and accidents occurring are good examples of
Things going wrong on a project.
Which of the following is a good condition for top-down estimating
Internal, small project.
All of the following are benefits of scheduling resources before project implementation EXCEPT
It ensures low network sensitivity.
Why is it necessary to have a time-phased budget baseline
It shows how much work was accomplished for the money spent.
Which of the following will correctly calculate the total slack in an activity
LF - ES.
*Which of the following would best represent direct project costs
Labor, materials and equipment.
Learning curves are more likely to be applied in situations where most of the costs are
Labor.
The assumption that all immediate preceding activities must be 100% complete is too restrictive in some situations. When an activity is broken down into smaller segments in order to start the succeeding activity sooner, this is called
Laddering.
When an activity with a long duration is broken into smaller segments so that the following activities can begin sooner it is called ____
Laddering.
A(n) ____ is the minimum amount of time a dependent activity must be delayed to begin or end
Lag.
The minimum amount of time a dependent activity must be delayed to begin or end is referred to as
Lag.
*Laura is forecasting the time and cost of developing an intranet for a new customer. Her department has completed six such intranets for customers during the last two years. Although the proposed system is about the same size as the others, she estimates that it will take about 10 percent less time and money. Which of the following methods is she using
Learning curve.
Which of the following is NOT one of the bottom-up approaches to estimating project time and cost
Learning curve.
*In a resource-constrained project, the first priority in assigning resources is usually given to activities with the
Least slack.
Risks are evaluated in terms of
Likelihood and impact.
The significance of a risk is assessed in terms of the ____ and the impact of the event
Likelihood.
The critical path in a project network is the
Longest path through the network.
Bill is building a project network that involves testing a prototype. He must design the prototype (activity 1), build the prototype (activity 2), and test the prototype (activity 3). Activity 1 is the predecessor for activity 2 and activity 2 is the predecessor for activity 3. If the prototype fails testing, Bill must redesign the prototype; therefore, activity 3 is a predecessor for activity 1. This is an example of
Looping.
A network has only one critical path and the slack for noncritical activities is high. This network would appear to have a ____ level of sensitivity
Low.
In a resource-constrained project the third priority in assigning resources is usually given to activities with the
Lowest identification number.
Which of the following is identified to cover major unforeseen risks and, hence, are applied to the total project
Management reserves.
*Gene is trying to order the concrete needed to continue his project. However, the supplier will not be able to deliver it until next week. This is an example of what kind of resource constraint
Materials.
*Splitting an activity can result in all of the following EXCEPT
More people working on the same activity.
Jan is trying to reallocate resources in a time-constrained project to create smoother resource utilization. She should first identify activities with the
Most slack.
Refining estimates may be necessary for a number of reasons. For example, resource shortages, in the form of people, equipment, or materials, can extend original estimates. This is a good example of
Normal conditions not applying.
When translated into a project network, a work package will become
One or more activities.
*____ focuses on how to respond to events that have a positive impact on a project
Opportunity management.
The estimating factor that considers the prevailing belief in some firms that detailed estimating takes too much time and is not worth the effort is an example of the ____ factor
Organization Culture.
When a company will reduce the number of projects they have to manage internally to only core projects and send noncritical projects to contractors and consulting firms this is called
Outsourcing.
A project cost baseline is also called ____
PV (Plan Value)
*Janet is forecasting how much money her department needs to support a new project. She estimates that two people and $25,000 in expenses will cover her needs. Because management typically insists on reducing forecasts by 20 percent, she increases her estimates to allow for that reduction. Which of the following factors is illustrated in this situation
Padding estimates.
The estimating factor that considers the tendency to overestimate project time and cost in order to improve the likelihood of meeting the estimates is known as the ____ factor
Padding estimates.
Activities which can take place at the same time are termed
Parallel activity.
A good starting point for developing time and cost estimates is
Past experience.
A sequence of connected, dependent activities is termed a(n)
Path.
*A shortage of programmers to write software is an example of a(n) _____ type of resource constraint
People.
Rachel is working on a project that technically allows three activities to be done at the same time. If they were to be implemented at the same time, she would need 5 contractors in order for the activities to be completed on time. There are only 3 available for her to use. This is an example of what type of constraint
People.
Sam, the project engineer, has been scheduled to run the product system test at the same time he is to build a marketing prototype. This is an example of what type of resource constraint
People.
The estimating factor that considers the skill level of participants doing the estimating is known as the ____ factor
People.
Which of the following would be the best method for projects where the final product is not known and the uncertainty is very large
Phase estimating.
Susan is to conduct environmental testing but the chamber cannot hold all the equipment that she wants to test. This is an example of a constraint that could impact the sequence and timing of activities in a project network. What type of constraint is it
Physical.
Trying to renovate a ship compartment that is too small for more than one person is an example of a(n) _____ resource constraint
Physical.
The estimating factor that considers the decreasing accuracy of estimates as one forecasts activities that are further into the future is known as _____
Planning Horizon.
Richard is collecting estimates for a house that he will have the funding to build in 12 months. Which of the following factors does Richard need to consider in regard to the quality of these estimates
Planning horizon.
___ activities must be completed immediately before a particular activity
Predecessor.
*Which of the following is NOT one of the factors that need to be considered to improve quality of estimates for project times and costs
Profit.
Ed is looking over the actual results of projects and comparing them to what was estimated. He notices that the projects that took six months or longer to complete were noticeably more off the estimates. Which of the following factors is he recognizing
Project duration.
*Arrows on an activity-on-node (AON) project network represent
Project flow and dependency.
Rob is responsible for estimating a work package that has a significant amount of uncertainty associated with the time and cost to complete. Due to the uncertainty involved he will be making a low, an average and a high estimate. Rob is using which estimating approach
Range estimating.
*Jose is forecasting project time and cost for constructing a new building by multiplying the total square footage by a given dollar amount. Which of the following methods is he using
Ratio.
Resource leveling or smoothing can have all the following results on a project EXCEPT
Reduced resource need over the life of the project.
*If resources are not adequate to meet peak demands, the resulting reschedule is termed
Resource-constrained scheduling.
In reviewing the status of her project with top management, Shirley was told that there are only two programmers that she can use for her project. Her project is classified as _______ constrained
Resource.
*The risk associated with the unlikelihood that one of the key members will be struck by lightning would most likely be handled by which of the following
Retaining.
Organizations use ____ in conjunction with work breakdown structures to help management teams identify and eventually analyze risk
Risk breakdown structures.
*The attempt to recognize and manage potential and unforeseen trouble spots that may occur when a project is implemented is known as
Risk management.
A list of questions that address traditional areas of uncertainty on a project is termed a
Risk profile.
Which of the following is NOT one of the steps in the risk management process
Risk tracking.
*An uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives is termed a
Risk.
An uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives is known as a ____
Risk.
Which of the following is NOT a potential consequence of failing to identify limited resources before project implementation
Scope creep.
The likelihood the original critical path(s) will change once the project is initiated is referred to as
Sensitivity.
______ reflects the likelihood the original critical path(s) will change once the project is initiated.
Sensitivity.
The risk management tool that is divided into three color-coded zones representing major, moderate, and minor risks is the risk
Severity matrix.
The chances of a risk event occurring as a project proceeds through its life cycle tend to
Slowly drop.
The cost impact of a risk event occurring as a project proceeds through its life cycle tends to
Slowly rise.
In a resource-constrained project the second priority in assigning resources is usually given to activities with the
Smallest duration.
*Resources are adequate, but demand varies widely over the life of the project. Delaying noncritical activities to lower peak demand on resources is known as resource
Smoothing.
The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as
Template method.
*Which of the following methods is NOT considered a top-down approach to estimating project time and cost
Template.
Tony has realized that two activities in his project cannot be done at the same time because not enough resources are available. Activity 3 is critical and has a duration of 5 days. Activity 4 has 2 days of slack and a duration of 2 days. How will he decide which activity should be scheduled first
The activity with the least slack.
*In a resource-constrained project, which of the following is most likely to be changed
The completion date.
When completing a backward pass, you carry the LS to the next preceding activity to establish the LF, unless the next preceding activity is a burst activity, in which case you select
The smallest LS of all its immediate successor activities to establish the LF.
*Most of the scheduling methods available today require the project manager to classify the project as either _____ constrained or ______ constrained
Time, resource.
*When considering the sequence and timing of activities, which of the following is NOT one of the types of project network constraints
Time.
In order that the new product is on the shelf for the Christmas buying season, the development of the new product would be classified as a(n) ________ -constrained project
Time.
Regina's boss has told her that her project is very important. If the critical path is delayed, she will be given whatever she needs to get it back on schedule. Her project is classified as ______ constrained
Time.
When classifying projects, ________ constrained means that project duration is fixed and resources are flexible
Time.
Reasons why estimating time and cost are important include all of the following EXCEPT
To help establish a project selection process.
*In practice, estimating processes are frequently classified as
Top down/bottom up.
The preferred method for situations involving strategic decision making, projects with a high degree of uncertainty, and projects with an unstable scope is the ____ approach to estimating project time and costs
Top-Down.
Tom is responsible for ordering hardware for a custom home his company is building. The contractor installing the hardware is scheduled to start in 5 working days, but the hardware is on back-order and will not arrive for another 9 working days. Fortunately, Tom has 10 days of slack; however, he shares this slack with the hardware installer. He will have to let the contractor know that the hardware will be ready 4 days later than expected and that the slack for the installer has been reduced by 4 days. Tom and the installer share 10 days of
Total Slack.
*The amount of time an activity can be delayed and yet not delay the project is termed
Total slack.
____ slack must be coordinated with all participants in the activities that follow in the chain
Total.
A fixed price contract is an example of
Transferring risk.
Purchasing an accident insurance policy would be an example of responding to a risk by ____ it
Transferring.
*A risk is an uncertain event that, if it occurs, can have a positive or negative effect on project objectives
True.
*Estimates that are typically based on estimates of elements found in the work breakdown structure are called bottom-up estimates
True.
*General and administrative costs are usually allocated as a percent of the total of a direct cost which includes labor, materials, or equipment
True.
*If a network has more than one critical path but noncritical activities have very little slack, the network is considered to have a high level of sensitivity
True.
*In developing a project network, neither looping nor conditional statements are permitted
True.
*It is possible for a project network to have more than one critical path
True.
*Past experience is almost always used primarily in the initial phases of estimating
True.
A risk profile is a list of questions that have been developed and refined from previous, similar projects
True.
All leveling techniques delay noncritical activities by using positive slack to smooth out the resource requirements
True.
All task time estimates need consistent time units
True.
An activity cannot begin until ALL preceding connected activities have been completed
True.
An activity is an element of the project that always requires time
True.
Budget reserves are set up to cover identified risks associated with specific segments of a project while management reserves are set up to cover unidentified risks associated with the total project
True.
Burst activities have more than one activity immediately following them (more than one dependency arrow flowing from them)
True.
Change management systems involve reporting, controlling, and recording changes to the project baseline
True.
Contingency funding is made up of budget reserves and management reserves
True.
Cost, time, and budget estimates are the lifeline for control; they serve as the standard for comparison of the actual and the planned throughout the life of the project
True.
Different activities along the same path can have different total slack
True.
Estimates are supposed to be based on normal conditions. While this is a good starting point, it rarely holds true in real life
True.
Experience suggests that when there are multiple starts, a common start node should be used to indicate a clear project beginning on the network. Similarly, a single project end node can be used to indicate a clear ending
True.
Fixed-price contracts are an example of transferring risk from an owner to a contractor
True.
Gantt charts are popular because they represent an easy-to-understand, clear picture on a time-scaled horizon
True.
Having too few programmers and too many engineers is an example of a people resource constraint
True.
If resources are truly limited and activity time estimates are accurate, the resource-constrained schedule will materialize as the project is implemented, not the time-constrained schedule
True.
In a resource-constrained project, the completion date is most likely to change.
True.
It is acceptable for arrows to cross one another in a network diagram
True.
Lags can be used to constrain the start and finish of an activity
True.
One common mistake that is made early on in the risk identification process is to focus on consequences and not on the events that could produce consequences
True.
One guideline to follow when estimating time, cost and resources is to use several people to make the estimate for a task
True.
Only activities that occur at the end of a chain of activities can have free slack
True.
Organization culture can significantly influence project time and cost estimates
True.
Phase estimating is used when a project cannot be rigorously defined because of the uncertainty of design or the final product
True.
Resource bottlenecks are one of the three more common problems encountered in managing multiproject resource schedules
True.
Resource dependency takes priority over technological dependency but it does not violate it
True.
Scheduling projects classified as resource-constrained focuses on completing the project as soon as possible under the given resource constraints
True.
The backward pass through a project network determines slack or how long an activity can be delayed without impacting the completion date of the project
True.
The ideal approach to estimating project time and costs is to use both the top-down and the bottom-up approach.
True.
The inability to fit more than two earth movers on a construction site at the same time when more are needed to complete the activity on time is an example of a physical constraint
True.
The probability that a risk event will occur is higher during the initial stages of a project
True.
To determine if a project is time-constrained or resource-constrained you would consult the project priority matrix
True.
Too many parallel activities for one individual is an example of a resource constraint
True.
Top-down estimates usually are derived from someone who uses experience and/or information to determine the project duration and total cost
True.
Using free slack does not delay any following activities and requires no coordination with managers of other activities
True.
When resource constraints are added to technical constraints the original project network may change as well as the completion date
True.
While a "can do" attitude is essential during implementation, project managers have to encourage critical thinking when it comes to risk identification
True.
Without a time-phased budget a good project schedule and cost control are impossible
True.
*Which of the following describes the consensus method
Uses pooled experience of senior and/or middle managers to estimate the total project duration and cost.
*The approach to estimating project time and cost that begins with an overall estimate for the project and then refines estimates for various stages of the project as it is implemented is known as ____
phase estimating.
The estimating approach that is best to use on projects where there is an unusual amount of uncertainty surrounding the project and when it is impractical to estimate times and costs for the entire project is known as _____
phase estimating.
All leveling techniques delay noncritical activities by using ________ to reduce peak demand
positive slack.
*Activities that must occur immediately before a given activity are called ____ activities
predecessor.
Jose is forecasting project time and cost for constructing a new building by multiplying the total square footage by a given dollar amount. He is using the _____ method of top-down estimating
ratio.
In scheduling resource-constrained projects, _____ are typically used rather than optimum mathematical solutions
realistic or rules up-down.
After resource leveling or smoothing one goal is that the amount of resources needed over the life of the project will be
reduce.
Beth has two engineers assigned to her project and does not have access to more even if the result means extending the completion date on her project. She is managing a(n) ________ -constrained project
resource.
Having one person responsible for performing several activities, all due at the same time, is an example of a(n) _____ constraint
resource.
When classifying projects, ________ constrained means that a specific resource is fixed and the duration of the project is flexible
resource.
Flooding would be devastating to the project; however, it is very unlikely. The project manager is most likely to ____ this risk
retain.
When considering risk response development, assuming the risk because the chance of such an event is slim is known as ____ the risk
retaining.
*The first step in the risk management process is ____
risk anticipation.
*The ____ form identifies each risk event, the likelihood of it occurring, the potential impact, when it may occur, and the degree of difficulty in detecting it
risk assessment.
*A list of questions that address traditional areas of uncertainty on a project is known as a
risk profile.
The ____ matrix is divided into red, yellow, and green zones representing major, moderate, and minor risks
risk severity.
According to the Failure Mode and Effects Analysis (FMEA), Impact x Probability x Detection = ____
risk value.
Since resource leveling or smoothing delays noncritical activities, a common result is an increase in network _____
sensitivity.
*Delaying noncritical activities to lower peak demand and, thus, increase resource utilization is called resource ____
smoothing or laddering.
*Start-up and shutdown costs are major considerations when using the ______ scheduling technique
splitting or multitasking.
When the work in an activity is interrupted to work on another activity and is then resumed at a later point in time, it is called ____
splitting or multitasking.
Activities that must immediately follow a given activity are called ____ activities
successor.
A(n) ________ constraint addresses the sequence in which project activities must occur even after considering resource constraints
technical or logic.
*Resource dependency takes priority over the technological dependency but does not violate _____ dependencies
technical.
The bottom-up method of estimating where work package time and costs for past projects are used as a starting point for a new project and adjustments are made based on differences in the new project is known as the ____ method
template.
Without a ____ budget a good project schedule and cost control are impossible
time phase.
*When someone uses experience and/or information from others to determine the project duration and total cost, ____ estimating is being used
top-down.
*When considering risk response development, passing risk to another party instead of changing it is known as ____ the risk
transferring.
Performance bonds, warranties, and insurance are examples of ____ a risk
transferring.
The event or point in time when a contingency plan will be implemented is called a ____
trigger.
The activity time estimates used to build a project network are derived from _____
work packages.
Accounting would be an example of which of the following costs typically found in a project
General and administrative overhead.
A(n) _____ activity is frequently used to identify the use of fixed resources or costs over a segment of the project
Hammock.
Refining estimates may be necessary for a number of reasons. For example, people working on prototype development needing time to interact with the design engineers after the design is completed is a good example of
Hidden interaction costs.
Which of the following does NOT help describe a project network
Highlights major deliverable and identifies their completion dates.
*The initial step in the risk management process is to
Identify the risks.
Which of the following is NOT one of the potential responses to a specific risk event
Ignoring.
An element in the project that consumes time is a(n)_____
activity.
Choosing to move a concert indoors to eliminate the threat of bad weather is an example of ____ a risk.
avoiding.
When considering risk response development, changing the plan to eliminate the risk or condition is known as ____ the risk
avoiding.
A(n) _____ calculates how late an activity can start and finish
backward path.
The ____ calculates the critical path and determines how long an activity can be delayed without delaying the project
backward path.
*When work package estimates are made by individuals most knowledgeable about the work being performed and these estimates are then "rolled up" to find estimated costs for major deliverable and the project itself, ____ estimating is being used
bottom-up.
The preferred method for situations where the cost and time estimates are important, in a fixed contract situation, and when the customer wants a lot of detail is the ____ approach to estimating project time and costs
bottom-up.
____ reserves are identified for specific work packages and are distributed by the project manager and the team members.
budget.
A(n) ____ activity has more than one successor activity
burst.
____ systems involve reporting, controlling, and recording changes to the project baseline
change management.
*A ____ is an alternative that will be used if a possible foreseen risk event becomes a reality
contingency plan.
The delaying of any activity on the ____ will delay the completion of the project by the same amount
critical path.
The longest path through a project network is called the _____
critical path.
A way to improve estimates on future projects is to collect and archive data on past project estimates and actual. Creating a ____ for estimating is a way to achieve this goal
database.
The likelihood of a risk event occurring ____ as a project goes through its life cycle
decreases.
The measurement of how easy it would be to detect that the event was going to occur in time to take mitigating action is known as
detection difficulty.
The salary of the project manager and temporary rental space for the project team would be classified as ____ costs
direct overhead.
Project costs such as labor and materials are typically classified as _____ costs
direct.
If three copiers are needed to produce a final report on time and only two are available, the project is facing a(n) ________ type of resource constraint
equipment.
When a project is classified as resource-constrained and a resource constraint exists, the project duration is typically ____
extended.
A(n) ____ calculates project duration
forward path.
The ____ calculates the earliest times that activities can start or finish
forward path.
*____ can never be negative and applies only to the last activity in a single chain of activities
free slack.
The top-down method for estimating project time and cost that uses weighted variables based on major parameters and is frequently used in the development of software is known as the ____ method
function point.
Costs that are not directly related to a specific project, such as advertising, accounting, and senior management's salary, are classified as ____ costs
general and administrative overhead.
Costs that are associated with time devoted to the coordination in meetings and briefings as well as time necessary to resolve disconnects between tasks are known as _____ costs
interaction.
The top-down method of estimating project time and costs that is useful for projects requiring the same task, group of tasks, or product repeated several times, especially if it is labor intensive, is the ____
learning curve.
When scheduling activities in a resource-constrained project, typically the activity scheduled first has the ______ amount of slack
lease.
____ reserves are controlled by the project manager and the owner of the project and are used to cover major unforeseen risks to the entire project
management.
The shortage of computer chips to produce a circuit board is an example of a(n) ______ type of resource constraint
materials.
An activity that has more than one predecessor is a ____ activity
merge.
*When considering risk response development, reducing the likelihood that an event will occur and/or reducing the impact that an adverse event would have on a project is known as ____ the risk
mitigating.
Testing a new project on a smaller isolated area prior to installing it for the entire organization is an example of ____ a risk
mitigating.
*In a project network, recycling through a set of activities or ____ is not permitted
moving.
In reality resource allocation generally occurs in a(n) ______ environment where the demands of one project have to be reconciled with the needs of other projects
multiproject.
Estimates should be made based on _____ conditions, efficient methods, and a normal level of resources
normal.
Many companies are ______ project work to contractors and consultants as a means of dealing with the peaks and valleys of resource allocation among projects
outsourcing.
Activities that can occur while an activity is taking place are called ____ activities
parallel or concurrent.
Activities that can take place at the same time if the manager wishes them to are called ____ activities.
parallel.
*Information to develop a project network is collected from the
Work breakdown structure.
On a project network, the activity times are derived from the
Work packages.
Project budgets are developed by time-phasing which of the following
Work packages.
Funds that are for identified risks that have a low probability of occurring and that decrease as the project progresses are called ______ reserves
Budget.
*A(n) _________ activity has more than one dependency arrow flowing from it
Burst.
___ activities are to be completed immediately following a particular activity
Burst.
One common mistake made early in the risk identification process is to
Focus on consequences and not on the events that could produce consequences.
Which of the following can be used without coordinating with managers of succeeding activities
Free slack.
Sean is forecasting the time and cost of developing a customized software program by looking at the number of inputs, outputs, inquiries, files, and interfaces. Which of the following methods is he using
Function point.
System documentation cannot end until three days after testing has started. This is an example of which kind of lag
Start to Finish.
Concurrent engineering, which has dramatically reduced the development time for new products, relies on what kind of lag
Start to Start lags.
*Technical constraints have been carefully considered when developing a project network. Which of the following is true at this point
Technical dependencies between activities are known.
Risks that can result in a system or process that will not work are known as
Technical risks.
When developing a new software package, logically, the software must be designed before the code is written, and the code must be written before it is tested. These activities are dependent on each other by ______ constraints
Technical.
Which of the following activities might you consider adding a time buffer to
You might consider adding a time buffer to any of these activities.
A project budget report is showing our project as spending $35,000 against a budgeted amount of $40,000. Which of the following is true
We can't be sure how the project is going.
A Risk Response Matrix contains all of the following EXCEPT
When the risk will occur.
Which of the following is a good condition for bottom-up estimating
When there is a fixed price contract.
The risk assessment form contains all of the following EXCEPT
Who will detect the occurrence of the risk event.
The information necessary to conduct a bottom-up estimate of project time and costs starts with the ____
Work Package.
