Topic 9 - DTF Quiz

What is the purpose of Technology Readiness Levels (TRL)?

• To determine project closing activities

• To measure a system's maturity of technology components

• To assess the profitability of a business model

• To evaluate project validation

What does MVP stand for in the context of project validation?

• Main Validation Process

• Minimum Viable Product

• Maximum Viable Product

• Most Valuable Product

What is the final phase of the project management lifecycle that involves concluding all project activities and finalizing documentation?

• Project Closing

• Project Execution

• Project Initiation

• Project Validation

What is the purpose of the Contract Closure process in project closing?

• To finalize all project finances

• To release project resources

• To ensure all contractual obligations are met

• To evaluate project performance

What is the main tool and technique used in Contract Closure to review the entire procurement process?

• Negotiated Settlements

• Records Management System

• Financial Closure

• Procurement Audits

What is the primary goal of Negotiated Settlements in the context of project procurement closure?

• To finalize all outstanding issues, claims, and disputes through negotiation

• To archive project documentation

• To prepare final reports for stakeholders

• To conduct a post-mortem analysis of the project

What is the main purpose of the Project Closing phase in project management?

• To evaluate project success

• To initiate a new project

• To gather project resources

• To conclude all project activities and finalize documentation

What is the key activity involved in the Completion of Deliverables process in project closing?

• Conducting a final project review

• Releasing project resources

• Verifying project deliverables meet required standards

• Archiving project documentation

What should be included in the Contract Closure documentation as part of project closing?

• Supporting schedules

• Financial summaries

• Stakeholder approvals

• Project evaluation reports

When should the Close Project process be performed in the project lifecycle?

• Randomly throughout the project

• At the end of each project phase

• At the beginning of the project

• Only at the end of the project