Project Constraints (Domain 2.0)

How do stakeholders, sponsors, and management exert influence on a project? (Choose all that apply.) A. Shift the priorities of the project as it progresses B. Lose interest in this project as newer projects begin C. Don't attend all meetings D. Don't work on project deliverables

A, B. Project stakeholders, sponsors, and management can influence the constraints of a project in a variety of ways, including shifting the priorities and/or resources, losing interest in a project in favor of newer efforts, and contributing to scope creep.

Which of the following are examples of influences? (Choose three.) A. Change request B. Scope statement C. Scope creep D. Constraint reprioritization E. Deliverables F. Requirements

A, C, D. These are common influences that can impact a project: change requests, scope creep, and reprioritization of constraints.

At a minimum, which of the following types of information would be recorded on a risk register? (Choose three.) A. Risk score B. Risk trigger scores C. Impact if the risk occurs D. Risk owners E. Description of risk F. Mitigation strategy

A, D, E. Standard information on a risk register might include an identification number, description, probability and impact, score, and owner as they all relate to risk.

What are the three common constraints found in projects? (Choose three.) A. Time B. Personnel C. Working space D. Budget E. Inventory F. Scope

A, D, F. Commonly referred to as the "triple constraints," almost all projects are constrained by time, budget, and scope as they impact quality.

A customer submits to have a different requirement added to a project, and it follows the formal approval process to be added to the scope. This is what type of influence on a project? A. Change request B. Scope creep C. An iteration between constraints D. Resource scarcity

A. A change request can create impact on any existing constraints or cause a new constraint. Consider if the change request causes a change to the project due date; then the scheduling constraint would be affected.

Lisa is the project manager on a project and receives a change request to add more scope to her project while not changing the schedule or the budget. Which of the following options are true of the change request? A. It represents an influence on the project. B. It represents a constraint on the project. C. It represents an avoidance strategy. D. It represents an environmental constraint.

A. Change requests, scope creep, and interactions between constraints are some of the influences that can impact a project.

In the project management context, what does COQ stand for? A. Cost of quality B. Critical to quality C. Cost of quantities D. Critical of quantities

A. Cost of quality (COQ) represents the costs needed to bring a substandard product or service produced by the project within the standard described by the quality plan or other criteria.

When determining risk probability and impact, which tool typically offers the best results? A. Expert judgment B. Parametric estimating C. Environmental factors D. Project documentation

A. Expert judgment is where subject matter experts, stakeholders, and project team members contribute their expertise on similar projects to help make a recommendation.

In the project management sense, what does ISO stand for? A. International Standards Organization B. Isomorphic Standards of Operations C. International Structure of Operations D. Intentional Standards Operations

A. International Standards Organization develops and publishes international standards for many industries. You may also see it as the International Organization for Standardization.

Risk planning includes all of the following activities, EXCEPT A. Measuring the SPI and CPI B. Analyzing the potential impacts of each risk C. Identifying all potential risks to the project D. Creating a response to each risk

A. Measuring the Schedule Performance Index (SPI) and the Cost Performance Index (CPI) are a part of monitoring and controlling the project and not directly an activity of risk planning.

What are major accomplishments of the project or key events known as? A. Milestones B. Deliverables C. Requirements D. Risks

A. Milestones can also represent the completion of major deliverables on a project.

All of the following are response strategies to positive risks, EXCEPT A. Mitigate B. Exploit C. Share D. Enhance

A. Mitigate is a risk response strategy for a negative risk. An attempt is made to minimize either the probability of risks happening or the impact.

What is the project artifact that breaks down resources by category and type? A. Resource breakdown structure B. Organizational breakdown structure C. Equipment breakdown structure D. Work breakdown structure

A. Much like the organizational breakdown structure, the resource breakdown structure lists the different resources by categories like labor, heavy equipment, materials, supplies, and so forth.

What does the acronym RACI stand for? A. Responsible, accountable, consulted, and informed B. Responsibility, authority, consult, and inform C. Responsible, authority, consulted, and inform D. Responsibility, accountable, consult, and informed

A. RACI stands for responsible, accountable, consulted, and informed, and it is a tool to help designate roles and responsibilities on a project.

Katie is a project manager whose last performance review just barely met the core standards of the organization. Which of the following choices would most accurately express Katie's risk tolerance? A. Risk avoider B. Risk decider C. Risk taker D. Risk observer

A. Since the need for success on her current project is probably desirable for job security, Katie would most likely try to avoid risky decisions because the margin of error is so low.

All of these are common potential risks to a project, EXCEPT A. Teams not attending status meetings B. Insufficient budget assigned to the project C. Scope changes after the project execution begins D. Legal ramifications resulting from the project

A. Teams not attending status meetings would be an example of an active issue, not a potential future consequence that will impact the project.

With a forecast for a worse than average hurricane season, a construction company is aware that certain material costs could rise if a hurricane makes landfall. They begin daily monitoring of the National Weather Service, and start actively tracking any tropical storms as they form so they can quickly act to purchase materials in case a hurricane becomes a legitimate threat. What type of risk response strategy is this? A. Mitigate B. Transfer C. Share D. Enhance

A. The company is trying to mitigate the impact by monitoring the probability that the risk will happen so they can act quickly to reduce negative results.

What tool would be used to prioritize and quantify risks so that the information is easy to understand and is visually informative? A. Probability and impact matrix B. Fishbone diagram C. Histogram D. Responsibility assignment matrix

A. The probability and impact matrix is a tool used to calculate an overall risk score, and to help organize, prioritize, and present information to determine what is needed in the risk response plan.

A project calls for six master craftspeople in a particular discipline, but the organization only has four on staff. The Human Resources department has attempted to hire more, but there is a limited number of these craftspeople looking for work. What type of constraint does this represent? A. Resources B. Scheduling C. Requirements D. Quality

A. The scarcity of this particular type of skill set, or when they have restricted availability or cannot be on the project on time, can all represent a constraint on the project.

The launch of a new flagship hotel is coming down to the wire. The customer wants to add an additional welcome area to the hotel prior to the grand opening. Which of the following impacts would be true? A. The scope of the project has changed but not the schedule, so costs will increase. B. The schedule of the project has changed but not the costs, so the scope will change. C. The costs of the project have changed but not the scope, so the schedule will change. D. This change will not have a project impact due to contingencies.

A. The scope of the project has changed but not the schedule, so costs will increase. This is an example of the triple constraints driving what is important in a project.

All of the following are strategies to deal with negative risks, EXCEPT A. Register B. Avoid C. Mitigate D. Accept

A. The strategies used to deal with negative risks are avoid, transfer, mitigate, and accept.

George is working on both positive and negative elements that might affect a project. For each element, he is trying to figure out the chances of the element occurring and how that element would disrupt or enhance the project. George is using which one of the following? A. Probability and impact matrix B. Risk management plan C. Risk register D. Risk response plan

A. The tool used to determine how likely a risk is to disrupt the project and what the total impact o

The marketing department has prepared a full marketing blitz to announce a new refrigerator that has been developed. Before they can go forward, they need photos of the finished unit and the ability to shoot some video. This is known as what type of dependency? A. Internal B. Discretionary C. External D. Mandatory

A. This is an internal dependency where one part of a company is waiting for another part to finish their work before they can begin the next step.

What is resource smoothing? A. Accommodating resource availability within activity float times B. A schedule compression technique C. An attempt to balance assignments to prevent overload D. A method for loading heavy equipment

A. This technique does not change the critical path or project completion date, but it balances specific schedule dates when there is concern about resource availability.

What is the critical chain method? A. Schedule network analysis technique B. Dependency model C. Signature path for project charter approval D. Earned value method

A. This technique modifies the project schedule when accounting for unforeseen issues or resource availability.

The consequence or opportunity the risk poses to the project is known as which one of the following? A. Risk response plan B. Risk impact C. Risk register D. Risk probability

B. Risk impact details the consequence or result that will occur if the event actually happens. Typically, this is categorized with a rating of High, Medium, and Low.

What does it mean to share a positive risk? A. Assign the risk to a third party who is best able to bring about opportunity. B. Monitor the probability or impact of the risk event to ensure that benefits are realized. C. Choose to accept the consequences of the risk. D. Look for opportunities to take advantage of positive impacts.

A. To share a positive risk, the project seeks to assign the risk to a third party who is best able to bring about the opportunity—for instance, a company that already has a working factory in a country where the materials are going to be sold, reducing costs of the project.

A road construction project is going to build a road through the mountains, and there is a window of June through September to get the work done because of the risk of inclement weather. This is an example of what type of constraint? A. Environment B. Budget C. Scope D. Scheduling

A. Weather conditions form an environmental constraint that will influence when and often how a project can be completed.

In the determination of the project scope, which of the following constraints need to be factored into the discussion? (Choose two.) A. Project manager B. Predefined budget C. Mandated finish date D. Competitive advantage

B, C. Two of the triple constraints are represented in the options, a predefined budget and a fixed, or mandated, finish date. These constraints will impact the options available in terms of scope, and they should be considered in terms of creating the scope statement.

Which of the following techniques could be used to create an initial list of risks on a project? (Choose three.) A. Parametric estimating B. Brainstorming C. Three-point estimating D. Interviews E. Fishbone diagrams F. Facilitated workshops

B, D, F. The techniques of brainstorming, interviews, and facilitated workshops can all assist in creating an initial risk list. The estimating techniques are used in activity estimation for a task, and a fishbone diagram would help create cause and effect relationships.

Which of the following would you need in the calculation of the risk score? (Choose two.) A. SPI B. Risk impact C. CPI D. Risk probability E. Risk trigger scores F. EAC

B, D. The risk score is the risk probability, typically expressed as a number between 0.0 and 1.0, multiplied by the risk impact. Projects may choose different quantifiable measures for probability and impact, and that would be spelled out in the risk plan.

Asking questions such as "Does a task have multiple dependencies?" or "Does the task utilize new or unfamiliar technology?" is a step in which process? A. Quality assurance B. Risk identification C. Building the project charter D. Building the project schedule

B. A good practice when identifying project risks is to have a set of questions to ask during the brainstorming step.

What is a MOA? A. Memorandum of allowance B. Memorandum of agreement C. Memorandum of allegiance D. Memorandum of activity

B. A memorandum of agreement helps indicate the goodwill on the part of both parties and keeps track of commitments. It is not a legal document, nor does it have any enforceability in court.

Ron in purchasing needs you to create an SOW prior to the releasing an RFP. What is does SOW stand for? A. Service of workforce B. Statement of work C. Statement of workforce D. Support of work

B. A statement of work formally captures and defines work activities, timeframes, milestones, and deliverables that a vendor must meet in the performance of work for a customer.

A project is underway, and the team has missed several deliverable dates. The steering committee would like the project to stay on track, and the project manager indicates that the team will need to work overtime to make the deadline. The increased cost is restricted by which type of constraint? A. Environment B. Budget C. Scope D. Scheduling

B. Budget is the cost constraint, and the team will not be able to work unlimited hours on the project without it affecting budget, scope, or quality.

The steering committee originally mandated that cost was the most important factor to the project, keeping the project team size lean. As the project drags on, the steering committee shifts and tells the project manager that schedule is the most important factor to the project. This is an example of which type of influence on a project? A. Change request B. Constraint reprioritization C. Scope creep D. Interactions between constraints

B. Constraint reprioritization is a shifting of which constraint is unmovable, thereby setting how the other constraints are manipulated. "You can have it cheap, right, or fast—you get to pick two out of three" illuminates the interplay between the triple constraints.

Which of the following is true of project constraints? A. Project constraints will never change during a project. B. Project constraints limit the options of the project team. C. Project constraints are elements assumed to be true. D. Project constraints have no impact on project outcomes.

B. Constraints like a fixed timeframe or budget, small windows in weather, or scarce resources limit the options the project team can pursue.

The project scope statement mandates that a new product will be developed along with administrative documentation and a user manual in three languages, including English, Spanish, and French. What type of constraint does this represent? A. Quality B. Deliverables C. Time D. Budget

B. Deliverables represent a constraint because they spell out detailed requirements or measurable results that direct the actions of the project team.

Cherie is working on a construction project where weather has the potential to disrupt operations. She determines there is a 0.25 percent probability of a wetter than normal season, which would have a high impact on the project. What activity is Cherie performing? A. Risk identification B. Risk analysis C. Risk response D. Constraint identification

B. Determining how a risk might positively or negatively impact a project, and just how likely the risk is to occur, is risk analysis.

Process or procedure driven, or best practices techniques, are known as what type of dependency? A. Internal B. Discretionary C. External D. Mandatory

B. Discretionary dependencies are also known as preferred logic, soft logic, or preferential logic.

If a project team wanted to enhance a positive risk, what are they trying to accomplish? A. Assign the risk to a third party who is best able to bring about opportunity B. Increase the probability or impact of the risk event to ensure that benefits are realized C. Choose to accept the consequences of the risk D. Look for opportunities to take advantage of positive impacts

B. Enhancing a risk involves increasing the probability or impact of the risk event to ensure that benefits are realized. This could come in the form of the construction company telling you that they could complete the building of a new gym early if there was a monetary reward for doing so.

What does the acronym RASI stand for? A. Responsible, authority, superior, and inform B. Responsibly, accountable, support, and informed C. Responsible, accountable, superior, and inform D. Responsibility, authority, support, and inform

B. It stands for responsibility, accountable, support, and inform. This is an alternative form of a RACI chart, with "consulted" replaced by identifying who serves in a supporting role.

In a SWOT analysis, opportunities generally look at which one of the following? A. Positive news within the company that affects the project B. External conditions that contribute to positive risks C. Job openings on the project where hiring can occur D. Long-term forecast of inclement weather during the project

B. Opportunities are external conditions that contribute to positive risks on a project, like a bull market in the product area, better weather conditions than expected, or a drop in materials costs.

A potential future event that can have either a negative or positive impact on a project is known as which one of the following? A. An issue B. Arisk C. A hope D. A requirement

B. Remember that a risk can be either positive or negative, and it represents an opportunity or threat that did not exist earlier in the project.

Which of the following is a tool or technique used in identifying risks to a project? A. RASI B. SWOT C. RACI D. COQ

B. SWOT stands for strengths, weaknesses, opportunities, threats, and it is an exercise in performing an environmental scan at a moment in time. This environmental scan can help reveal project risks.

A road construction project is going to require the company's road paver, a piece of equipment that lays asphalt on roadways, in the next two weeks. The road paver is in use until this Friday in a different city and will require five days to be relocated. This is an example of which type of constraint? A. Environment B. Scheduling C. Scope D. Quality

B. Similar to the availability of people with certain skills, equipment availability and scheduling can also lead to a constraint on a project.

What is the organization responsible for setting the best practices for project, program, and portfolio management? A. CompTIA B. PMI® C. RACI D. DoD

B. The Project Management Institute (PMI®) published A Guide to the Project Management Body of Knowledge®, which is a cross-industry framework of good practices in project management.

A road construction company has been asked to improve and widen a road along the coastline. Before taking on the project, they evaluate whether the stability and structure of the coastline could support the effort. What is this process known as? A. Using expert judgment B. Conducting a feasibility study C. Performing a cost-benefit analysis D. Using a weighted scoring model

B. The company is checking to see that a project could be successful. A feasibility study might also look at personnel availability, costs, or timelines.

An aircraft engineering company is forced to cut the project budget after poor financial results in the previous quarter. How would this most likely impact the project? A. The project is postponed due to lack of financial resources. B. The project scope is cut back to operate within the new budget. C. The project will take longer because the number of resources is cut. D. The project team goes to the steering committee for more funds.

B. The project scope is cut back to operate within the new budget is the most likely impact on this project. The schedule would not be affected, since there is no call to lengthen or shorten the project time.

As you identify all of the potential risks that might impact a project, you should record them in which one of the following? A. RACI chart B. Risk register C. Risk probability matrix D. Issue log

B. The risk register is the tool used to document all potential risks for future analysis and evaluation.

The scope of a project is expanded through the formal change control process, causing the schedule to be extended beyond the original due date. This is an example of which type of influence? A. Stakeholders, sponsors, and management B. Interaction between constraints C. Constraint reprioritization D. Environmental factors

B. This example shows the interrelationship of how one constraint—in this case schedule—is influenced by the change of another constraint—scope.

A company is working on a project to produce a smartphone that will have similar features to a competitor's product. After a marketing demo, the company receives correspondence from its rival demanding that sale of the smartphone be halted and not taken up again later, because it violates their intellectual property. This is an example of which one of the following? A. Memorandum of agreement B. Cease and desist letter C. Letter of intent D. Request for proposal

B. This is an example of a cease and desist letter, where there is an attempt to get a purportedly illegal activity halted and not continued again in the future.

The risk response strategy that focuses on shifting the liability for a negative risk to a third party is known as which one of the following? A. Avoidance B. Transference C. Mitigation D. Acceptance

B. Transference is the strategy of moving the liability of the risk to a third party by purchasing insurance, performance bonds, and other tools.

What is a form of mathematical analysis used to shorten the project schedule duration while keeping the project scope the same? A. PERT analysis B. Schedule compression C. Resource smoothing D. Resource leveling

B. When there is a preset project end date, as when a law sets a date by which an activity must be completed, schedule compression can be used to shorten the project schedule.

Which of the following is defined as anything that restricts or forces the actions of the project team? A. A requirement B. An assumption C. A constraint D. An influence

C. A constraint is anything that limits the options of the project team or dictates a specific course of action.

What is a MOU? A. Memorandum of understatement B. Memorandum of usability C. Memorandum of understanding D. Memorandum of unacceptability

C. A memorandum of understanding is an agreement between two parties that indicates a common expression of action. It does not imply a legal commitment by the parties.

When estimating activity resources, a project manager looks to variations and other options to complete the work. What is this tool or technique called? A. Parametric estimating B. Bottom-upestimating C. Alternative analysis D. Fishbone diagraming

C. Alternative analysis gauges the different options that might be considered to accomplish the assignment with the resources that are available.

In the creation of a work breakdown structure, the project managers ask to see the OBS as an input to creating the document. What is an OBS? A. Office of business structure B. Operational business support C. Organizational breakdown structure D. Office breakdown structure

C. An organizational breakdown structure (OBS) is a hierarchical model setting or describing the established organizational framework for project planning and resource management.

All of the following are true regarding influencers, EXCEPT A. A change request is an influencer.B. Scope creep can influence schedule and budget. C. Environmental factors can dictate when a project occurs. D. Influences impact existing constraints or create new ones.

C. Environmental factors are actual constraints rather than influences of a constraint.

A project has fallen behind schedule, and the project manager has decided to run the next several activities in parallel instead of sequentially to help make up time. This is an example of which one of the following? A. Crashing B. Risk avoidance C. Fast tracking D. Critical path method

C. Fast tracking is a schedule compression technique where activities or phases decided to be done in sequence are instead done concurrently.

"Factors that may impact the change of an existing constraint or may bring about a new constraint" is the definition of which one of the following? A. A dependency B. A predecessor C. An influence D. A constraint

C. Influences can manipulate or impact existing constraints or may bring about new constraints.

What is the event that detects that a known risk's variable has changed and that it is time to move the item from the risk register to the issue log? A. Risk response plan B. Risk identification C. Risk trigger D. Probability and impact matrix

C. Risk triggers are a sign that a risk event is about to or has occurred, and that action may be needed.

Which of the following statements is true regarding a SWOT analysis? A. Strengths/weaknesses are external to the organization; opportunities/threats are internal to the organization. B. Strengths/weaknesses/opportunities/threats are all external to the organization. C. Strengths/weaknesses are internal to the organization; opportunities/threats are external to the organization. D. Strengths/weaknesses/opportunities/threats are all internal to the organization.

C. SWOT involves analyzing the project by strengths/weaknesses, which are internal to the organization, and opportunities/threats, which are external to the organization.

A project team has been working for months on a project and is in the Execution phase. The customer discovers that a competitor has added new functionality to their product, and they would like to add that functionality to this project. To keep the project on time and on budget, this change cannot be accepted because of what type of constraint? A. Environment B. Budget C. Scope D. Scheduling

C. Scope involves the specific goals, tasks, and deliverables of a project. It helps to provide boundaries for the project so that it does not expand and go on forever. Remember, when altering one of the triple constraints, at least one of the others is affected. Therefore, adjusting scope is sure to impact either schedule or budget.

What does the acronym SWOT stand for? A. Situation, weaknesses, open-source, threats B. Strengths, work, opportunities, traceability C. Strengths, weaknesses, opportunities, threats D. Situation, work, open-source, traceability

C. Strengths, weaknesses, opportunities, threats (SWOT) is a tool used to perform a moment-in-time environmental scan.

Walt works for Wigit Construction, and he has been assigned as a project manager to build a new bridge. The team has six months to build the project and a fixed budget, and the bridge must handle four lanes of traffic. This is an example of which one of the following? A. Three-point estimating B. Cost of quality C. Triple constraints D. Progressive elaboration

C. The Wigit Construction bridge project is limited by time, budget, and scope, which are the elements of the triple constraints.

What does the weaknesses portion analyze in a SWOT analysis? A. The market share of the smallest competitor B. Which elements are weakest for the company's competitor C. Which elements are weak areas within the company D. Portfolio elements that bring a negative return

C. The area of weaknesses looks at the elements in the company where it can improve, which may introduce risk to a project. Negative risks are also associated with weaknesses.

A project wants to build a concrete highway in a region that experiences frequent snowstorms during winter months. The snow mitigation plan the city uses calls for putting down magnesium chloride to keep the streets from freezing. The problem with magnesium chloride is that it will eat away at the rebar underneath the concrete, shortening the total life of the highway. What type of constraint does this present to the project? A. Scope B. Budget C. Environment D. Scheduling

C. The conditions for dealing with the changing seasons, including how the final product's care would influence the construction, are examples of environmental constraints.

The project manager is looking for a way to determine the shortest duration in which the project can be completed. The project manager tells the scheduler to use CPM. What is CPM? A. Cost production management B. Critical project management C. Critical path method D. Cost project method

C. The critical path method can also be defined as finding the longest path through the network diagram.

Nermit has been working on a chart that lists all the risks that have been identified on a project, along with a numerical score of the likelihood that the risk has of occurring and the score for how impactful the results of the risk occurring would be. What is Nermit creating? A. Risk response plan B. Risk register C. Probability and impact matrix D. RACI chart

C. The probability and impact matrix will also include a calculated final risk score that can be used to prioritize the risk's severity.

What is the process of examining the risk analysis and establishing the appropriate course of action should it occur called? A. Risk analysis B. Risk probability C. Risk response planning D. Risk trigger

C. The risk response plan outlines the course of action that will occur should the risk materialize and start impacting the project.

A software company is working on a revolutionary new mobile app when a new craze hits the market that utilizes geolocation services. The company has no internal expertise in this field, and it agrees to partner with another company where geolocation functionality is a core competency. What risk response strategy is being used? A. Accept B. Exploit C. Share D. Enhance

C. The software company is seeking to share the positive risk with a third party that can act on the opportunity.

While a project to build a new computer processor chip is underway, a key stakeholder approaches the project team to double the processing speed from that which was originally requested. This is an example of which one of the following? A. Schedule constraint B. Constraint reprioritization C. Scope creep D. Project requirements

C. This would be an example of the scope continuing to grow while the project is underway. A change control process will provide a formal way to handle these issues.

The Transportation Exchange held a kickoff meeting where they explained the project goals and high-level timeline and performed project introductions. What phase of the project are they in? A. Initiation B. Planning C. Execution D. Monitor and Control E. Closing

C. When work is ready to begin is the appropriate time to hold a kickoff meeting, after all of the planning has been completed.

Beth has been charged with gathering information from suppliers to have them bid on specific products or services. What is the appropriate procurement vehicle for this activity? A. RFI B. Sole source C. RFP D. RFQ

D. A request for quotation is generally more involved than just a price per item response. It can also be called an invitation for bid.

Just allowing the consequences of a negative risk to happen is which type of risk response strategy? A. Avoid B. Transfer C. Mitigate D. Accept

D. Acceptance is choosing to live with the impact that a risk would have on the project.

Which of the following roles should be included in the identification of risk on a project? A. Subject matter experts (SME) B. Core team members C. Stakeholders D. All of the above E. BothBandC

D. All three of these roles can contribute to the identification of risk on a project.

What does IMS stand for in the project management sense? A. Impulsive management system B. Innovative mission statement C. Iterative mapping system D. Integrated master schedule

D. An integrated master schedule is a networked and cross- referenced schedule containing the detailed work packages and plans to support a project.

In preparation to begin a project, the project manager makes a list: (1) The customer will review delivery submissions within 48 hours, (2) the customer will make needed personnel available to the project, and (3) executive support will be given to the project. These are all examples of which one of the following? A. Constraints B. Objectives C. Requirements D. Assumptions

D. Assumptions are those conditions that are assumed to be true in relation to the project.

Attempting to ensure that a risk doesn't happen at all, or eliminating the cause of a negative risk, is what type of risk response strategy? A. Transfer B. Mitigate C. Accept D. Avoid

D. Avoiding the risk attempts to bypass the risk altogether, including the elimination of the cause for a risk event.

Karen is a superstar for a company who has had several stellar performance reviews in a row. Which choice would most accurately express Karen's risk tolerance? A. Risk avoider B. Risk observer C. Risk decider D. Risk taker

D. Because of the stability within her job due to great performance, Karen probably has a bigger cushion to gamble and take more risks.

Wigitcom's general counsel lets you know that it received a C&D, and there will need to be a meeting on the future of the project. In this context, what is a C&D? A. Consequences and demands B. Constraints and deliverables C. Cease and demands D. Cease and desist

D. C&D is shorthand for cease and desist, where documents are sent to a business or individual in order to halt a supposed illegal activity and to prevent it from being resumed.

What are two types of discretionary fund allocations that a project may be granted? A. Top-down and bottom-up B. Contingency and discretionary C. Parametric and analogous D. Contingency and management

D. Contingency reserves are set aside to deal with risk consequences, and management reserves cover future situations that are unable to be predicted.

In which phase of a project would you keep an eye on risks to see if any immediate action should be taken? A. Initiation B. Planning C. Execution D. Monitor and Control E. Closing

D. During the Monitor and Control phase, the project team observes whether a risk is triggered and takes the planned course of action should that occur.

What are vital system capabilities that must be satisfied in order for a system or project to meet its operational goals known as? A. KPIs B. RFPs C. MOUs D. KPPs

D. Key performance parameters identify the desired operational capability in a threshold and objective format.

Wigitcom's project to build a new processor has operated with budget being the most important constraint. Having just learned that their competitor is going to release a product that is 25 percent faster than the one Wigitcom is building, the governance board mandates that their processor be 33 percent faster than the original design. This is an example of which one of the following? A. Budget constraint B. Schedule constraint C. Scope constraint D. Constraint reprioritization

D. Normally, one of the triple constraints is more restrictive than others, in this case budget. However, if Wigitcom doesn't remain relevant in the marketplace, they run the risk of going out of business. Therefore, scope becomes more important regardless of the cost.

The activity of selecting risks that have the greatest chance of occurring and the biggest impact on the project should they occur is called which one of the following? A. Three-point estimating B. Pareto diagraming C. Monitoring and Controlling D. Risk analysis

D. Risk analysis is the process of figuring out what risks might happen and what the results would be if each risk did occur.

What is the activity of determining and documenting any potential risks that might happen on a project? A. Risk planning B. Risk mitigation C. Risk avoidance D. Risk identification

D. Risk identification is brainstorming and recording all potential risks that might occur during a project.

Which of the following is defined as the likelihood that a risk will occur? A. Risk response plan B. Probability and impact matrix C. Risk register D. Risk probability

D. Risk probability is the likelihood that a risk event will occur, and it is typically expressed as a number between 0.0 and 1.0.

What is an individual or organization's comfort level with how likely they are to accept or avoid risk? A. Risk register B. Risk avoider C. Risk taker D. Risk tolerance

D. Risk tolerance is the threshold of comfort one has accepting a risk and its consequences.

Even though the project scope statement has been approved, the customer has routinely asked for more features to be added to the product, causing the due date and resources to be adjusted consistently. This is an example of which type of influence? A. Change request B. Constraint reprioritization C. Schedule constraint D. Scope creep

D. Scope creep is where the project definition is constantly expanding, and control over being able to finish the project lessens.

Every project faces all of the following potential constraints, EXCEPT A. Quality B. Budget C. Scope D. Staffing E. Time

D. Staffing is not an automatic constraint on a project—it is more of an environmental factor to an organization. The other answers represent the triple constraints of time, budget, and scope, as they pertain to quality.

A project manager is going to conduct a brainstorming exercise to get a list of potential risks on a project. She invites sponsors, core team members, stakeholders, and SMEs. What is an SME? A. Service material extract B. Service matter expert C. Service material expert D. Subject matter expert

D. Subject matter experts have expert judgment and experience in the topic or project area that should be consulted.

There is a section of the project management plan that contains elements of risk, including the project methodology, roles and responsibilities, stakeholder tolerances, and categories. What is this called? A. Risk register B. Risk matrix C. Risk response plan D. Risk management plan

D. The risk management plan outlines how the project will define, monitor, and control risks throughout the project.

A simple spreadsheet that contains an identification number, risk name, risk description, risk owner, and other elements is known as which one of the following? A. Risk response plan B. Probability and impact matrix C. RACI chart D. Risk register

D. The risk register may contain additional elements, including the response plan or where the plan may be located.

A wedding planner receives notice that the big event needs to be moved forward two weeks due to the pending military deployment of a member of the bridal party. How would this impact the project? A. The wedding is called off because of the schedule change. B. The wedding is moved to an indoor facility. C. The wedding is moved to a different date in the future. D. The wedding costs will be increased as people are added to meet the deadline.

D. The wedding costs will be increased as people are added to meet the deadline. The trade-off between time, cost, and scope is at play here. The only variable that has changed is time or schedule. Since the scope is the same, costs will increase.

The steering committee for Wigit Construction monitors existing projects and approves new ones. The company just won a bid for a new project that must be completed in April, which is the same month that an underway project must also be completed. The stakeholders are doing which of the following? A. Reprioritizing constraints by shifting a previously unmovable constraint within a project B. Submitting a change request because the scope changed for the existing project C. Demonstrating scope creep for the existing project as there are more deliverables to accomplish D. Exerting influence by losing interest in the existing project as a new project begins

D. There are no changes to the existing project, but a new project is competing for the same resources at the same time as the existing project. The stakeholders' focus has changed.

Walter is an ace programmer with unique skills that are needed on the project. His time is in high demand, and he is working on several projects. To keep your project on track, Walter needs to complete his work by the end of next month, but he also has his other project commitments. This is an example of which type of constraint? A. Environment B. Budget C. Scope D. Scheduling

D. This is a scheduling constraint because the timing and availability of a resource is restricted because of the skill set scarcity.

In a SWOT analysis, threats are which one of the following? A. Situations where physical security is needed B. Internal conditions that would lead to negative impacts C. Arguments that get out of hand, leading to raised voices D. External conditions that would lead to negative impacts

D. Threats are external to the organization and have negative impacts on the project, such as a softening product market, labor unrest, or trade barriers.

What does it mean to exploit a positive risk? A. Assign the risk to a third party who is best able to bring about opportunity B. Monitor the probability or impact of the risk event to ensure that benefits are realized C. Choose to accept the consequences of the risk D. Look for opportunities to take advantage of positive impacts, thereby ensuring it occurs

D. When seeking to exploit a positive risk, you should look for opportunities to take advantage of positive impacts, ensuring that the risk materializes. For instance, the price of oil drops and the project is able to purchase all of the required oil at a significantly reduced price than was planned.