SYE 6010 Final

A project has a 60% chance of a $100,000 profit and a 40 percent of a US $100,000 loss. The Expected Monetary Value for the project is:

$ 20,000 profit

When finishing a project, which factors that influence customer satisfaction the most should you be aware of?

Conformance to requirements of the project and fitness for use of the deliverables

John Strauss is a Project Manager for a reforestation project. To identify the risks involved, John sends a questionnaire to gather inputs from experts. Which technique is John using?

Delphi technique

You are the project manager of a company that is building ATM software for a large bank and financial institutions. You have been told that the ATM software must meet very stringent quality standards. Including rigorous auditing of all transactions, ability to recover in case of software/ hardware errors, and fraud detection/analysis and robust two-factor authentication. The ATM system is currently in production, when a quality problem is identified with a PIN card reader. This problem will require with a downtime of the manufacturing process while networks of the unit are performed. Fortunately, the units have not been shipped, to customers yet. Which of the following best describes the cost of quality associated with this problem?

Internal Failure Costs

Quality audits are a tool/technique of which of the following processes?

Perform Quality Assurance

During which stage of Risk planning are modeling techniques used to determine overall effects of risks on project objectives for high probability, high impact risks?

Perform Quantitative risk analysis

Which of the following project quality management process is within the executing process group?

Perform quality assurance

During which risk management process is a determination to transfer a risk made?

Plan Risk Response

What are the cost types in modern quality management?

Prevention costs - appraisal costs - failure costs

When you perform quality assurance in your project, which technique could you typically use?

Quality audit

The ________ is a document which describes how the project management team will implement the performing organization's quality policy.

Quality management plan

All of the following are tools/ techniques of Perform Quality Assurance EXCEPT:

Reserve analysis

Which of the following statements are true regarding project risk management?

Risk monitoring and control involves tracking identified risks and executing risk response

Which of the following statements is true about risks?

Risk register documents all the risks identified.

After conducting a SWOT Analysis, you have determined that a business deal is worth pursuing. You are required to use Agile development practices. In your company, there is no expertise in Agile development. Hence, you partner with another organization that specializes in Agile development. This is an example of:

Sharing a Positive Risk

Which of the following statements are FALSE regarding the process improvement plan?

The process improvement plan is an output to the perform quality control process