Week 5-6 Quiz

What is a Resource Management Plan?

• A document for managing project finances

• A document outlining how project resources will be managed

• A plan for stakeholder communication

• A schedule for project tasks

Which of the following is NOT a key component of a project budget?

• Resource Management Plan

• Direct costs

• Indirect costs

• Contingency reserves

What is the purpose of a Procurement Management Plan?

• To create a project schedule

• To define project quality standards

• To outline how procurement will be managed

• To manage project risks

Which of the following is a key activity in Risk Management?

• Resource Allocation

• Communication Planning

• Risk Identification

• Cost Management

What does the term 'Risk Mitigation' refer to?

• Identifying potential risks

• Accepting the risk without action

• Reducing the probability or impact of a risk

• Transferring risk to another party

What is the first step in the Change Management Process?

• Identify Change

• Log Change

• Assess Impact

• Implement Change

Which component is NOT part of the Quality Management Plan?

• Quality Control

• Resource Allocation

• Quality Assurance

• Quality Planning

What is the main goal of a Communication Management Plan?

• To outline how information will be shared

• To create a project budget

• To define project scope

• To manage project risks

What is a key benefit of a well-developed Risk Management Plan?

• Increases project costs

• Improves decision-making

• Limits project scope

• Reduces stakeholder involvement

Which of the following is a type of cost in project budgeting?

• Stakeholder Analysis

• Risk Assessment

• Indirect costs

• Resource Capacity