question

Which PM knowledge area has legal ramifications?

answer

Procurement (contracts)

question

You are planning procurements and considering your production capabilities, competencies and proprietary nature of work you are conducting a _____________or ______________ analysis.

answer

Make or buy analysis

question

There is a risk your materials are damaged during shipment. therefore , you have decided to purchase insurance on your shipments. What risk response strategy are you using?

answer

Transfer (threat: damage to your shipment) you are paying a premium for the post office to assume the risk and damages

question

While constructing procurements, you receive a question from potential vendor. Should you provide clarification to

answer

all vendors

question

We are building a fence. Each side costs $200 and it has 4 sides. Our plan was to build 1 side per day. On day 3 we have built 2 sides and spent $500 how are doing on budget and schedule?

answer

Over budget and behind schedule ev=the work 2 sides =$400 PV=day 3 =$600 (3 sides) AC=we spent=$500 cv=$100 sv=$200

question

In agile pm, the person with project management responsibilities is referred to as a?

answer

Scrum master

question

Over time the likelihood of risks of risks impacting our project ______ while the cost to address those risk___________.

answer

Over time, the likelihood of risks impacting your project decreases while the cost to address those risks increases.

question

If we want to know the specific dollar amount our project is over or under budget, which indicator do we use and what is the formula?

answer

Cost variance

question

You are executing a construction project and identify a new risk. What should you do next?

answer

qualitative risk analysis

question

This agile PM visualization is a common tool to measure project performance (Like EVM for waterfall)

answer

Burndown Chart - Shows the remaining work that is left

question

Which two EVM variables should you never compare?

answer

Actual Cost and Planned Value (pv & ac)

question

What project closure document contains an executive summary, lessons learned, project review/analysis, and recommendations for future projects?

answer

The final report

question

If a risk trigger occurs during project execution, you would implement that risks associated ___

answer

contingency plan (proactive actions are taken before risks occur)

question

You are on a tight budget and need an installer. Which contract type will carry the least amount of cost risk forced for you?

answer

Fixed price (buyer pays set amount seller has cost risks)

question

If there is a 10% chance of a hurricane destroying materials stored outside, and those materials are valued at $20,000, what is the EMV of that risk?

answer

$2000 (probability * impact)

question

"As a _____, I want ____, so that _____" is an example of a _____

answer

User Stories - prioritized and used to derive agile work activities

question

Agile project management is only for software development projects (True or False)

answer

False - agile can be used in a wide variety of industries

question

If our SPI is currently 1.0, our project is _____ schedule

answer

On - 1 is good- less than 1 is bad

question

We are planning to build a fence. We are building 4 sides of the fence for a cost of $200 per side, building 1 side per day. What is our BAC?

answer

$800

question

To purchase a standard good or service, which procurement document type are you most likely to use?

answer

Request for Quote(RFQ)

question

Adopting proven technology instead of experimental technology in order to eliminate technical failure would be an example of which risk response?

answer

Avoiding

question

Which of the following defines risk mitigation

answer

Taking action that will cause the risk to do as little damage to the project as possible

question

The risk management plan should be created prior to a ________.

answer

Baseline schedule

question

Something that will probably happen and will have a significant impact on the project will score _____ and ______on the risk assessment.

answer

High, High

question

The risk response plans should have _______ owner(s).

answer

One

question

It would be best to build instead of buy in all of the following situations

answer

-If the product isn't on the market. -If you would have to make an adjustment to a product. -If the product gives you a competitive advantage.

question

Which of the following forms is best to use when you are looking to purchase new hard hats and don't need additional information from the vendor or partner?

answer

RFQ

question

Which type of contract has the highest level of risk for the vendor or service provider?

answer

Fixed Contract

question

You need to hire someone to come paint a large building after your normal vendor went out of business. You aren't sure what other vendors are out there. What form would you use?

answer

RFI

question

What is a benefit of using vendors for procurement?

answer

You don't have to maintain relationships.

question

You are project manager for an organizational restructuring project with a team of 7 consultants. The goal of the current phase is to develop 105 job descriptions within 7 business days. That means, the goal is to develop 15 job descriptions each day. Based on the burden rate of your consultants, it costs $100 to develop one job description. On the 4th day, your team has worked the equivalent of $5,500 to develop 45 job description. You are using the 0/100 rule to measure earned value for a work element. What is the schedule variance?

answer

-1,500 = (45x100)-((15x4)x100)

question

All of the following are ways to control risk

answer

Assign team members to monitor risk Develop a response plan prior to an incident occurring Periodically identify if new risks surface

question

You are project manager for an organizational restructuring project with a team of 7 consultants. The goal of the current phase is to develop 105 job descriptions within 7 business days. That means, the goal is to develop 15 job descriptions each day. Based on the burden rate of your consultants, it costs $100 to develop one job description. On the 4th day, your team has worked the equivalent of $5,500 to develop 45 job description. You are using the 0/100 rule to measure earned value for a work element. What is the budget at completion?

answer

$10,500 = ((7x15)x100)

question

You are project manager for an organizational restructuring project with a team of 7 consultants. The goal of the current phase is to develop 105 job descriptions within 7 business days. That means, the goal is to develop 15 job descriptions each day. Based on the burden rate of your consultants, it costs $100 to develop one job description. On the 4th day, your team has worked the equivalent of $5,500 to develop 45 job description. You are using the 0/100 rule to measure earned value for a work element. What is the planned value on day 4?

answer

$6,000= ((15x4)x100)

question

You are project manager for an organizational restructuring project with a team of 7 consultants. The goal of the current phase is to develop 105 job descriptions within 7 business days. That means, the goal is to develop 15 job descriptions each day. Based on the burden rate of your consultants, it costs $100 to develop one job description. On the 4th day, your team has worked the equivalent of $5,500 to develop 45 job description. You are using the 0/100 rule to measure earned value for a work element. What is the cost variance?

answer

$-1,000= (45x100) - 5,500

question

When a project is closed, what additional responsibilities does the project manager have?

answer

Help team members find new jobs/projects

question

The scrum master is like a

answer

Project Manager

question

In which of the following types of projects would agile project management be appropriate?

answer

Video game development

question

A key tenant of Agile PM is that ___________.

answer

Something of value will be delivered at the end of each sprint

question

Agile project management requires __________ amounts of planning as compared to waterfall project management.

answer

Relatively the same, both requiring ample

question

All of the following are ways to handle risk, EXCEPT:

answer

Motivate

question

You are looking for to purchase high quality glass for a new technology that your team is developing. You are trying to build product that puts you further ahead of your competition. You find a vendor that provides a type of glass that you really like. What would you do?

answer

Build a product instead of going through a vendor.

question

For your project, you want to hire a software engineer to assist with some tasks. What type of contract would be best for this procurement?

answer

Time and Materials (T&M) Contract

question

What is the difference between vendors and partners?

answer

Vendors are used when you know exactly what you want.

question

Which of the following is true of quality assurance?

answer

Convinces stakeholders that the project is well-planned

question

Which of the following document is the best place to find the planned value (cost) of different periods within the project?

answer

Time-phased budget

question

Roger want to gather meaningful lessons learned from his team. How can he ensure that he receives this information from his team?

answer

Be positive when wording questions

question

full-time roles in the development unit

answer

-Database analyst -Scrum Master -Quality assurance analyst

question

The point in time when project execution gives way to project closing is when the _____________ accept(s) the project deliverable.

answer

Primary customer

question

post-project objectives

answer

-Transitioning deliverables -Completing post-project activities -Capturing and Sharing Lessons Learned

question

It is important to document "lessons learned." When do you begin this process?

answer

Throughout the project

question

You are working on a project to design a new software for your company to use. Creating the software involves an extensive amount of high level coding. This yields for a potentially high risk. How long should your sprints be?

answer

1 week

question

Waterfall project management differs from agile project management in that __________.

answer

it requires is a high degree of certainty

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