Project Controls PC 05 Rev 03

What is the difference between qualitative and quantitative risk analysis?

• Qualitative analysis focuses on positive risks, while quantitative analysis focuses on negative risks

• Qualitative analysis uses numerical values, while quantitative analysis uses descriptive terms

• Qualitative analysis assesses the information both probable and impactful, while quantitative analysis assesses the likelihood of risks with given scoring parameters.

• Qualitative analysis is subjective, while quantitative analysis is objective

What is the purpose of a Project Execution Plan?

• To communicate project goals to stakeholders inclusive of the how we are going to achieve the deliverables.

• To allocate project resources

• To identify and manage project risks

• To develop project assumptions

What are contingencies in project management?

• Additional resources allocated for unexpected events

• The key elements identified to develop the basis of schedule and estimate

• The assumptions made during project planning

• The risks that have a positive impact on the project

Why do we need a Quality Plan or QMS (Quality Management System)?

• To allocate project resources effectively

• To communicate project goals to stakeholders

• To ensure project deliverables meet quality standards

• To identify and manage project risks

What are the key elements identified to develop the basis of schedule and estimate?

• Additional resources allocated for unexpected events

• The assumptions made during project planning

• The risks that have a positive impact on the project

• The key resources identified to develop the basis of schedule and estimate in terms of Human, Mechanical & Materials.

Where would you search within your Project OPA'S in order to find which resources and when you will be requiring them?

• Project Charter

• Risk Register

• Resource Calendars

• Business Case

PQM stands for which option?

• Pre Qualification Measurement

• Project Quality Management

• Personal Question Mentor

• None of the options listed.

(O + ML + P / 3 = ) Represents which Estimating option ?

• PERT

• Triangular Distribution

• Quantitative Analysis

• Monte Carlo Analysis

PERT is represented by which option?

• O + ML + P / 10 =

• O + ML + 4 x P / 2 =

• O + 4 x ML + P / 6 =

• 2 x 6 x 12 / 4 =

(PEP) represents which Plan?

• Project Execution Plan

• Public Egress Plan

• Private Exit Plan

• Project Entity Process