1. A risk of significant development delays due to working with a new supplier has been evaluated as having a 40% probability and potentially resulting in a 50,000 € cost overrun. The expected value for this risk is:
A. 125.000 €
B. 1.250 €
C. 2.000 €
D. 20.000 €
2. Which of the following is not considered to be an element of team building?
A. The planned process of encouraging effective working relationships.
B. Diminishing difficulties or roadblocks that interfere with the team’s competence.
C. The management of disagreements that develop among individuals working on the project.
D. Guiding people with different goals, needs and perspectives to work together effectively.
3. The schedule performance index (SPI) is calculated as
A. Planned Value (PV) divided by Earned Value (EV)
B. Earned Value(EV) divided by Planned Value (PV)
C. Project duration divided by Earned Value divided by Planned Value (Duration/(EV/PV))
D. Earned Value (EV) minus Planned Value (PV)
4. Cost estimates are refined during the course of planning as additional detail becomes known. In one widely used formulation of estimating accuracy an estimate expected to be between -10% and +25% of the actual final cost is called
A. budgetary.
B. order of magnitude.
C. definitive.
D. preliminary.
5. The process in which confirmation is obtained and documented that the project has met all customer requirements for the product of the project and that the customer has formally accepted the deliverables is called
A. project turnover.
B. project completion.
C. project closure.
D. project termination.
6. Which input to Integrated Change Control provides the basis for identifying changes and recognizing the possibility of future problems?
A. Performance measurement.
B. The project plan.
C. Work Performance Information.
D. Change requests.
7. Standards and regulations
A. are only indirectly related to quality management.
B. represent externally imposed quality criteria.
C. are the basis for the quality management plan.
D. represent quality criteria that must be adhered to.
8. Risks that occur near the end of project execution are characterized as being
A. more numerous and higher in impact than at any other time in the project life-cycle.
B. more numerous and lower in impact than at any other time in the project life-cycle.
C. less numerous but higher in impact than at any other time in the project life-cycle.
D. less numerous and lower in impact than at any other time in the project life-cycle.
9. Which of the following elements of the project plan contributes the least to project success as defined by customer satisfaction?
A. Scope definition document
B. Work Breakdown Structure
C. Scope management plan
D. Activity list
10. Fast track projects
A. may be completed in less time than similar projects.
B. generally have less risk than similar projects.
C. are generally staffed by employees with obvious management potential.
D. involve assigning additional resources to key activities so that they will be completed sooner.
Answers:
1.D(Expected Value = Probability x Impact = 0.40 x 50,000 [11.4.2.2]
2.C(Unresolved disagreements can, of course, lead to diminished team effectiveness. Nevertheless, conflict resolution is considered a part of General Management Skills rather than team building. [9.3.2]
3.B(Answer A is reversed. Answer C is sometimes mistakenly used to forcast project completion (it’s invalid because it doesn’t take into consideration which completed tasks are on the critical path). Answer D is the definition of Schedule Variance. [7.3.2.2]
4.A(Estimating accuracy for order of magnitude (OM) is -25% to +75%, for budgetary is -10% to +25% and for definitive is -5% to +10%. “Preliminary” does not correspond to any particular level of estimating accuracy. [7.1.3.2]
5.C(Project closure is concerned with obtaining “formal acceptance and handover of the final product, service, or result that the project was authorized to produce. The accceptance includes receipt of a formal statement that the terms of the contract have been met.” [4.7.3.3]
6.C(Change requests by their nature represent identified changes. Recognizing that a change has occurred in the absence of a change request is the focus of this question. [4.6]
7.B(Standards may suggest, and regulations impose, minimal requirements on quality. The so-called “lemon law” in the US required automobile dealers to take back a new automobile and refund the purchase price if more than a fixed number of days were lost to shop repair during the first six months of ownership. [1.5.2]
8.C(Early in the project, many risks have not surfaced, the design for the project is immature, and changes can occur, making it likely that more risks will be discovered. The costs to deal with problems, however, increases the later in the project life cycle they are detected, meaning that the impact is greater.
9.D(Customer satisfaction is derived from delivery of a product that meets real business needs in a cost effective manner. The activity list is a PROJECT deliverable and, of the four choices, the most remote from defining a satisfactory product. It is, in fact, an output of work on the other three items. [5.2]
10.A(Answer A is the objective of fast tracking, but part of the cost is higher risk (making answer B incorrect). There is no relationship between fast tracking and management training. Answer D is the definition of “crashing
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