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WorksheetsRitaBook2
Total questions: 88
Worksheet time: 1hrs 27mins
During project planning, you estimate the time needed for each activity and then total the estimates to create the project estimate. You commit to completing the project by this date. What is wrong with this scenario?
The team did not create the estimate, and estimating takes too long using that method
The team did not create the estimate, and a network diagram was not used
The estimate is too long and should be created by management
The project estimate should be the same as the customer's required completion date.
You are a project manager on a $5,000,000 software development project. While working with your project team to develop a network diagram, you notice a series of activities that can be worked in parallel but must finish in a specific sequence. What type of activity sequencing method is required for these activities?
Precedence diagramming method
Arrow diagramming method
Critical path method
Operational diagramming method
You are a project manager on a US $5,000,000 software development project. While working with your project team to develop a network diagram, your data architects suggest that quality could be improved if the data model is approved by senior management before moving on to other design elements. They support this suggestion with an article from a leading software development journal. Which of the following best describes this type of input?
Mandatory external dependency
Discretionary external dependency
External regulatory dependency
Heuristic
Base on the following, if you needed to shorten the duration of the project, which activity would you try to shorten?
Activity: Start A B C D E F G H I
Preceding Activity: None Start Start Start A B,C C D E F G,H,I
Duration in Weeks: 0 1 2 6 10 1 2 3 9 1 0"
Activity B
Activity D
Activity H
Activity C
You have a project with the following activities: Activity A takes 40 hours and can start after the project starts.Activity B takes 25 hours and should happen after the project starts. Activity C must happen after activity A and takes 35 hours. Activity D must happen after activities B and C and takes 30 hours. Activity E must take place after activity C and takes 10 hours. Activity F takes place after Activity E and takes 22 hours. Activities F and D are the last activities of the project. Which of the following is true if activity B actually takes 37 hours?
The critical path is 67 hours
The critical path changes to Start, B, D, End
The critical path is Start, A, C, E, F, End.
The critical path increases by 12 hours
A project manager has received activity duration estimates from his team. Which of the following does he need in order to complete the Develop Schedule process?
Earned value analysis
Schedule change control system
Trend analysis
Reserves
A project manager is taking over a project from another project manager during project planning. If the new project manager wants to see what the previous project manager planned for managing changes to the schedule, it would be best to look at the:
Communications management plan
Update management plan
Staffing management plan
Schedule management plan
A project manager is using weighted average duration estimates to perform schedule network analysis. Which type of mathematical analysis is being used?
Critical path method
Beta distribution
Monte Carlo
Resource leveling
The WBS, estimates for each work package, and the network diagram are completed. The next thing for the project manager to do is:
Sequence the activities
Validate that they have the correct scope
Create a preliminary schedule and get the team's approval
Complete risk management
A new product development project has four levels in the work breakdown structure and has been sequenced using the precedence diagramming method. The activity duration estimates have been received. What should be done next?
Create an activity list
Begin the work breakdown structure
Finalize the schedule
Compress the schedule
You are the project manager for a new product development project that has four levels in the work breakdown structure. The network diagram and duration estimates have been created, and a schedule has been developed and compressed. Which schedule management activity should you do next?
Control the schedule
Determine dependencies
Analogously estimate the schedule
Gain approval
A team member from research and development tells you that her work is too creative to provide you with a fixed single estimate for the activity. You both decide to use the average labor hours (from past, similar projects) to develop a prototype. This is an example of which of the following?
Parametric estimating
Three-point estimating
Analogous estimating
Monte Carlo analysis
As part of a project manager's due diligence, he reviews the schedule, focusing on each activity as its start time approaches. He also monitors activities as they progress. He is currently looking at an activity that has an early start (ES) of day 3, a late start (LS) of day 13, an early finish (EF) of day 9, and a late finish (LF) of day 19. In all likelihood, this activity:
Is on the critical path
Has a lag
Is progressing well
Is not on the eritical path
The project is calculated to be completed four days after the desired completion date. You do not have access to additional resources. The project is low risk, the benefit-cost ratio is expected to be 1.6, and the dependencies are preferential. Under these circumstances, what is the best thing to do?
Cut resources from an activity
Make more activities concurrent
Move resources from the preferential dependencies to the external dependencies
Remove an activity from the project
A project manager for a small construction company has a project that was budgeted for $130,000 over a six-week period. According to the schedule, the project should have cost S60,000 to date. However, it has cost $90,000 to date. The project is also behind schedule, because the original estimates were not accurate. Who has the primary responsibility to solve this problem?
Project manager
Senior management
Project sponsor
Manager of the project management office
Senior management is complaining that they are not able to easily determine the status of ongoing projects in the organization. Which of the following types of reports would help provide summary information to senior management?
Detailed cost estimates
Project management plans
Bar charts
Milestone reports
Rearranging resources so that a constant number of resources is used each month is called:
Crashing
Floating
Leveling
Fast tracking
The team is helping the project manager estimate activities on their project. They are experienced and skilled, and many members have been with the company for some time. There are several activities they need to estimate that have not been previously done by the company. What is the best method of estimating these activities?
Analogous estimating
Three-point estimating
Monte Carlo analysis
Parametric estimating
During project executing, a large number of changes are made to the project. Several of the change requests have come from the customer, significantly changing the functionality of the originally requested product. Six project team members have been reassigned by management to a higher- priority project, and they have been replaced. As project work has progressed, many of the identified risks have occurred and have been successfully mitigated. However, three contingency plans have been adjusted and will be implemented if identified risks recur during the remainder of the project. The project manager should:
Wait until all changes are known, and then print out a new schedule
Make sure the project charter is still valid
Change the schedule baseline
Talk to management before any changes are made
"A project has a number of deliverables that are complex and have to be assembled. As the project manager, you know the work breakdown structure will help stakeholders to see interim deliverables
that will be integrated into the final project deliverables. To help manage the individual clements, you have used a work breakdown numbering system. This numbering system allows the project team to: "
Systematically eslimate costs of work breakdown structure elements.
Provide project justification.
Identify the level at which individual elements are found.
Use it in project management software.
The work breakdown structure can best be thought of as an effective aid for _____ communications.
Team
Project manager
Customer
Stakeholder
The product of the project has been completed and delivered to the customer by the team. They are informed by the customer that several of the deliverables are not acceptable, as they do not meet the requirements specified early in the project. The project manager and team review the requirements documentation, and are in agreement th.it the product deliverables meet the customer's requirements as they understand them. The project manager, who is new to the organization, seeks the advice of the project management office in determining what went wrong. After some discussion, the PMO realizes that the Validate Scope process was not performed appropriately by the project manager. Which of the following is a key output of the Validate Scope process?
A more complete scope management plan
Customer acceptance of project deliverables
Requirements analysis
Confirmation of the project scope statement
During project executing, a team member comes to the project manager because he is not sure what work he needs to accomplish on the project. Which of the following documents contains detailed descriptions of work packages?
WBS dictionary
Activity list
Project scope statement
Scope management plan
During which part of the project management process is the project scope statement created?
Initiating
Planning
Executing
Monitoring and controlling
The program was planned years ago, before there was a massive introduction of new technology. While planning the next project in this program, the project manager has expanded the scope management plan because as a project becomes more complex, the level of uncertainty in the scope:
Remains the same
Decreases
Decreases then increases
Increases
During a meeting with some of the project stakeholders, the project manager is asked to add work to the project scope. The project manager had access to correspondence about the project before the project charter was signed and remembers that the project sponsor specifically denied funding for the scope mentioned by these stakeholders. The best thing for the project manager to do is to:
Let the sponsor know of the stakeholders' request.
Evaluate the impact of add mg the scope.
Tell the stakeholders the scope cannot be added.
Add the work if there 1s time available in the project schedule.
A new project manager 1s being mentored by a more experienced PMP-certified project manager. The new project manager is having difficulty finding enough time to manage the project because the project scope is being progressively elaborated. The PMP-certified project manager advises that the basic tools for project management, such as a work breakdown structure, can be used during project executing to assist the project manager. For which of the following can a work breakdown structure be used?
Communicating with the customer
Showing calendar dates for each work package
Identifying the functional managers for each team member
Describing the business need for the project.
During a project team meeting, a team member suggests an enhancement to the scope that is beyond the scope of the project charter. The project manager points out that the team needs to concentrate on completing all the work and only the work required. This is an example of:
Change management
Scope management
Quality analysis
Scope decomposition
A project has just started the second phase, in which work packages are being created. A new team member has completed his work packages for this phase and has asked the project manager to validate the scope of his work packages. The team member is anxious to have the customer see his work packages. The project manager, although confident in this new team member, wants the team member to gain confidence after the customer sees his work packages. When should the Validate Scope process be done? (Câu này del có câu trả lời)
At the end of the project
At the beginning of the project
At the end of each phase of the project
During the planning processes
The project is mostly complete. The project has a schedule variance of 300 and a cost variance of -900. All but one of the quality control inspections have been completed, and all have met the quality requirements. All items in the issue log have been resolved. Many of the resources have been released. The sponsor is about to call a meeting to obtain product validation when the customer notifies the project manager that they want to make a major change in the scope. The project manager should:
Meet with the project team to determine if this change can be made.
Ask the customer for a description of the change.
Explain that the change cannot be made at this point in the process.
Inform management.
You have just joined the project management office after live years of working on projects. One of the chings you want to introduce to your company is the value of creating and utilizing work breakdown structures. Some of the project managers are angry that you are asking them to do “extra work”. Which of the following is the best thing you could tell the project managers to convince them to use work breakdown structures?
Work breakdown structures will prevent work from slipping through the cracks.
Work breakdown structures are of greater value on large projects.
Work breakdown structures are best when the project involves contracts.
Work breakdown structures arc the only way to identify risks.
A new project manager has asked you for advice on creating a work breakdown structure. After you explain the process to her, she asks you what software she should use to create the WBS and what she should do with it when it is completed. You might respond that the picture is not the most valuable result of creating a WHS. The most valuable result of a WBS is:
A bar chart
Team buy-in
Activities
A list of risks
To manage a project effectively, work should be broken down into small pieces. Which of the following does not describe how far to decompose the work?
Until it has a meaningful conclusion
Until it cannot be logically subdivided further
Until it can be done by one person
Until it can be realistically estimated
A project manager may use ____ to make sure the team members clearly know what is included in each of their work packages.
The project scope statement
The product scope
The WBS dictionary
The schedule
On an agile software development project, the project manager asks business stakeholders to create user stories, which will be used in the development and testing of the new application. The main purpose of a user story is:
To document features or functions required by stakeholders
To create a record of issues encountered on the project
To perform what-if analysis
To communicate progress
The development phase of a new software product is near completion. A number of quality issues have increased the cost of building the product, but the project manager and team feel these costs will be inconsequential once the project gets to market. The next phases are testing and implementation. 'The project is two weeks ahead of schedule. Which of the following processes should the project manager be most concerned with before moving into the next phase?
Validate Scope
Control Quality
Manage Communications
Control Costs
You are managing a six-month project and have held biweekly meetings with your project stakeholders. After five-and-a-half months of work, the project is on schedule and budget, but the stakeholders are not satisfied with the deliverables. This situation will delay the project completion by one month. The most important process that could have prevented this situation is:
Monitor Risks
Control Schedule
Define Scope
Control Scope
All of the following are parts of the scope baseline except the:
Scope management plan
Project scope statement
Work breakdown structure
WBS dictionary
One of the stakeholders on the project contacts the project manager to discuss some additional scope they would like to add to the project. The project manager asks for details in writing and then works through the Control Scope process. What should the project manager do next when the evaluation of the requested scope is complete?
Ask the stakeholder if any more changes are expected.
Complete integrated change control.
Make sure the impact of the change is understood by the stakeholder.
Find out the root cause of why the scope was not identified during project planning.
During the completion of project work, the sponsor asks the project manager to report on how the project is going. In order to prepare the report, the project manager asks each of the team members what percent complete their work is. There is one team member who has been hard to manage from the beginning. In response to being asked what percent complete he is, the team member asks, "Percent complete of what?” Tired of such comments, the project manager reports to the team member's boss that the team member is not cooperating. Which of the following is most likely the real problem?
The project manager did not get buy-in from the manager for the resources on the project.
The project manager did not create an adequate reward system for team members to improve the cooperation.
The project manager should have had a meeting with the team member's boss the first time the team member caused trouble.
The project manager did not assign work packages.
Being prepared to do a complete job of developing and finalizing the scope baseline requires that you have done a thorough and timely job of identifying and analyzing stakeholders, and of collecting requirements. The development of the scope baseline can best be described as involving:
The functional managers
The project team
All the stakeholders
The business analyst
Which of the following is an output of the Collect Requirements process?
Requirements traceability matrix
Project scope statement
Work breakdown structure
Change requests
The cost performance index (CPI) on the project is 1.13, and the benefit-cost ratio is 1.2. The project scope was created by the team and stakeholders. Requirements have been changing throughout the project. No matter what the project manager has tried to accomplish in managing the project, which of the following is he most likely to face in the future?
Having to cut costs on the project and increase benefits
Making sure the customer has approved the project scope
Not being able to measure completion of the product of the project
Having to add resources to the project
Validate Scope is closely related to:
Control Quality
Sequence Activities
Manage Quality
Schedule Management
A highway renewal project you are managing appears to have some missing scope. Your understanding of the scope was that the highway was to be resurfaced. Now, one of the construction foremen has come to ask why he finds no mention of repainting the lines on the repaved road. He also wants to know if there are any guard rail replacement work packages in the project. You have seen some of the resurfaced road that is completed, with the new lines painted on them. Which of the following is most likely to have caused the misinterpretation of the project scope statement?
Imprecise language
Poor pattern, structure, and chronological order
Variations in size of work packages or detail of work
Too much detail
Which of the following is correct in regard to the Control Scope process?
Effective scope definition can lead to a more complete project scope statement.
The Control Scope process must be done before scope planning.
The Control Scope process must be integrated with other control processes.
Controlling the schedule is the most effective way of controlling scope.
Which of the following best describes the Validate Scope process?
It provides assurances that the deliverable meets the specifications, is an input to the project management plan, and is an output of Control Quality.
It ensures the deliverable is completed on time, ensures customer acceptance, and shows the deliverable meets specifications.
It ensures customer acceptance, shows the deliverable meets specifications, and provides a chance for differences of opinion to come to light.
It is an output of Control Quality, occurs before Define Scope, and ensures customer acceptance.
Which of the following best describes product analysis?
Working with the customer to determine the product description
Mathematically analyzing the quality desired for the project
Gaining a better understanding of the product of the project in order to create the project scope statement
Determining whether the quality standards on the project can be met
Which of the following best describes the difference between the Control Scope process and the Perform Integrated Change Control process? .
Control Scope focuses on making changes to the product scope, and Perform Integrated Change Control focuses on making changes to integration.
Control Scope focuses on controlling the scope of the project, and Perform Integrated Change Control focuses on determining the impact of a change of scope on time, cost, quality, risk, resources, and customer satisfaction.
Control Scope focuses on controlling the scope of the project, and Perform Integrated Change Control focuses on making changes to integration.
Control Scope focuses on making changes to the product scope, and Perform Integrated Change Control focuses on determining the impact of a change to scope, time, cost, quality, risk, resources, and customer satisfaction.
"The project was tasked to develop a new software to be used by three sales channels of an auto parts company. The project was consistently on time and within budget, and the stakeholders approved prototypes of the software. However, when the completed software was installed and beta tested, a problem was discovered. Although the software performed as expected on in-store and call center-assisted purchases, it was found to be incompatible with other software necessary to complete online transactions. Therefore, the customer refused to accept the final deliverable, and the team was left to find a new software package that would accommodate all the customer's needs.
Which of the following did the team not do?"
Collect requirements from the right stakeholders.
Test interim deliverables.
Control stakeholder engagement.
Accurately define product scope.
One common way to compute estimate at completion (EAC) is to take the budget at completion (BAC) and:
Divide by SPI
Multiply by SPI
Multiply by CPI
Divide by CPI
The finance department requires that you keep them updated on the costs being spent on the capital project you are leading. You were required to submit a funding plan, and monthly forecasts are necessary so that any changes to the funding plan can be requested in advance and evaluated. Exceeding the budget limit is unacceptable, as it will impact the stock value. You have successfully implemented processes and practices to anticipate funding changes, and you evaluate them to minimize problems and increase the efficient use of funds. You have employed a variety of reporting and analysis techniques tom eet the finance department requirements. One of them is EAC, which is a preriodic evaluation of:
The cose of work completed
The value of work performed
The anticipated total cost at project completion
What it will cost to finish the project
If earned value (EV) = 350, actual cost (AC) = 400, and planned value (PV) = 325, what is the cost variance (CV)?
350
-75
400
-50
The customer responsible for overseeing your project asks you to provide a written cost estimate that is 30 percent higher than your estimate of the project's cost. He explains that the budgeting process requires managers to estimate pessimistically to ensure enough money is allocated for project. What is the best way to handle this?
Add the 30 percent as a lump sum contingency fund to handle project risks.
Add the 30 percent to your cost estimate by spreading it evenly across all project activities
Create one cost baseline for budget allocation and a second one for the actual project management plan
Ask for the imformation on risks that would cause your estimate to be too low
You've recently been assigned to manage a marketing project to brand a sustainable development program. Even though you are just starting your efforts, the sponsors are concerned about the likelihood of reaching planned milestones during the project. THey are wondering how you will go about estimating. Analogous estimating:
Uses bottom-up estimating techniques
Is used more frequently during project executing
Uses top-down estimating techniques
Calculates estimates using actual detailed historical costs
You have been working with the subject matter experts to estimate the activity durations and costs on the project. All the following are outputs of the Estimate Costs process exxcept:
An understanding of the cost risk in the work that has been estimated
The prevention of inappropriate changes from being included in the cost baseline
An indication of the range of possible costs for the project
Documentation of any assumptions made during the Estimate Costs process
"The Product your project team is working on is a replacement of a device the company launched a couple of years ago. That device did not meet market projections for sales, even though it was revolutionary in it's capabilities. The reason it did not meet projections was that the life cycle costing was not fully considered and analyzed during the device development. When the original device was offered to the market, it had initial success unti a trade publication analyzed the life cycle costs and determined they were unreasonably high. Sales lagged due to the negative reports. Internal tests
showed that the trade publication was correct. This time the team is taking life cycle costs into
consideration as they develop the product. The main focus of life cycle costing is to: "
Estimate installation costs
Estimate the cost of operations and maintenance
Consider installation costs when planning the project costs
Consider operations and maintenance cost in making project decisions
You're managing a project to develop a new mobile application for the inventory-tracking-and-control system of a restaurant franchise organization. Schedule is the highest-priority constraint for the leadership team, but the franchise owners are most concerned about cost and the quality of the application. If there are bugs and errors in the system, they will pay higher costs on waste or lost sales. But investing a lot of effort into delivering great functionality could be expensive. It was decided that an adaptive approach to the project life cycle would likely be the best way to balance the competing priorities and deliver a working, cost-effective application. The franchise decision team has been meeting with the development team.The groups feel good about the project's progress but they are hearing concerns from other stakeholders about what the impact will be to the bottom line and whether the system will be ready for launch. These concerns were anticipated in planning, and will be managed with cost performance measurement. Cost performance measurement is best done through which of the following?
Asking for a percent complete from each team member and reporting that m the monthly
progress report"
Calculating earned value, and using indexes and other calculations to report past performance and forecast future performance
Using the 50/50 rule, and making sure the life cycle cost is less than the project cost
Focusing on the amount expended last month and what will be expended the following month
A cost performance index (CPI) of0.89 means:
At this time, we expect the total project to cost 89 percent more than plannl'd.
When the project is completed, we will have spent 89 percent more than planned.
The project is progressing at 89 percent of the rate planned.
The pro1ect is getting 89 cents out of every dollar invested.
The team's attitude toward the project is very positive. 'They are excited about the research and development work they arc doing. The value of the work completed today is $60 million. The potential consumers from the p roduct testing and forcus groups have stated "the product will be amazint and "they would absolutely buy it." The phase gate review board has rccewcd the reports and is asking for market projections and launch plans. They are wondering when this product can start returning value to the organization. The project is budgeted to cost $77 million. The value of the work planned to be done to this point is $78.9 million. What docs the schedule performance index (SPl) for this project tell you?
You are over budget.
You are ahead of schedule.
You are progressing at 76 percent of the rate originally planned
Tou are progressing at 24 percent of the rate originally planned
"The project management team is busy breakmg down deliverables, and the procurement department
has started looking for possible sellers to help produce the deliverables. There are departmental
concerns that the project could go over budget because the scope will be iterated and the planning and
development will be done in increments. At a recent company gathering, the sponsor asked questions
of the project manager and the project management staff team about how changes in scope will affect
the estimates. The sponsor wanted to know how the project estimates could be relied upon, given that
they were planning to iterate the scope. The project manager reassured them that the team has the right tools with which to provide accurate estimates, and will utilize the tools throughout the project. Which of the following is not needed in order to come up with a project estimate?"
A WBS
A network diagram
Risks
Change requests
Which of the following is an example of a parametric estimate?
Dollars per module
Learning bend
Bottom-up
CPM
A rough order of magnitude (ROM) estimate is made during which project management process group?
Planning
Closing
Executing
Initiating
For each activity on your project, you have worked with designers, engineers, technical experts, and consultants to come up with details on the resources needed to complete the activity. For some of the activities the lists are quite long, as you need raw and finished materials, equipment, and people. You have a limited amount of warehousing available, so you have to coordinate the deliveries and work so that the materials and equipment are delivered as close to the start of an activity as possible. You and the project management team have identified the amount of time and money needed for each of the activities, which you have then aggregated and analyzed with their help. These efforts will eventually result in the createtion of a cost baseline for the project. A senior manager is trying to better understand the work of project management and has asked which process produces the cost baseline. What is the correct response?
Estimate Activity Resource
Estimate Costs
Determine Budget
Control Costs
During which project management process group are budget forecasts created?
Monitoring and controlling
Planning
Initiating
Executing
Which type of cost is team training?
Direct
NPV
Indirect
Fixed
Project setup costs are an example of:
Variable costs
Fixed costs
Overhead costs
Opportunity costs
The quality efforts on the project have gone through some changes during the first four m onths of project work. Two processes in particular have undergone extensive change. The customer is happy with the work to date, but has heard that the competition is working on a similar product. The team has been asked to analyze and create options for the customer. Value analysis is performed to get:
More value from the cost analysis
Management to buy into the project
The team to buy into the project
A less costly way of doing the same work
Which estimating method tends to be most costly for creating a project cost estimate?
Bottom-up
Analogous
Parametric
50/50
To gain a clear incUcation of how the project is progressing, the buyer expects periodic reporting that includes analysis of the work that has been accomplished according to plan, the dollars that have been spent and how they reflect the planned expenses, the accepted deliverables, and evaluation of the risk events that have occurred. Which of the following represents the estimated value of the work actually accomplished?
Earned value (EV)
Planned value (PV)
Actual cost (AC)
Cost variance (CV)
Which of the following are all items included in the cost management plan?
The level of accuracy needed for estimate, rules for measuringcost performance, and specifications for how duration estimates should be stated
Specifications for how estimates should be stated, rules for measuring cost performance, and the level of accuracy needed for estimates
Rules for measuring team performance the level ofaccuracy needed for estimate, and specifications for how estimates should be stated
Specifications for how estimates should be stated, the level of risk needed for estimates, and rules for measurmg cost performance
Your project has a medium amount of risk and is not very well defined. The sponsor hands you a project charter and asks you to confirm that the projet can be completed within the project cost budget. What is the best method to handle this?
Develop an estimate in the form of a range of possible results
Ask the team members to help estimate the cost based on the project charter
Based on the information you have, calculate a parametric estimate
Provide an analogous estimate based on past history
You are leading a project to introduce a new healcare appointment scheduling application. As you are creating plans detailing how the team will respond to possible events that may impact the project, you and the team determine the amount of cost contigency reserve needed. The cost contmgency reserve should be:
Hidden to prevent management from disallowing the reserve
Added to each activity to provide the customer with a shorter critical path
Maintained by management to cover cost overruns
Added to the cost of the project to account for risks
You are having difficulty estimating the cost of a project. Which of the following best describes the most probable cause of your difficulty?
Inadequate scope definition
Unavailability of desired resources
Lack of historical records from previous projects
Lack of company processes
You cost forecast shows you will have a cost overrun at the end of the project. Which of the following should you do?
Eliminate risks in estimates and reestimate
meet with the sponsor to find out what work can be done sonner
Cut quality
Decrease scope
Early in the life of your project, you are h.wing a discussion with the sponsor about what estimating techniques should be used. You want a form of expert judgment, but the sponsor argues for analogous estimating. It would be best to:
Agree to analogous estimating, as it is a form of expert judgment
Suggest life cycle costing as a compromise
Determine why the sponsor wants such an accurate estimate
Try to convince the sponsor to allow expert judgment because it is typically more accurate
You have just completed the initiating processes of a small project and are moving into project planning when a project stakeholder asks you for the project's budget and cost baseline. What should you tell her?
The project budget can be found in the project charter, which has just been completed
The project budget and baseline will not be finalized and accepted until the planning processes are competed
The project management plan will not contain the project's budget and baseline; this is a small project
It is impossible to complete an estimate before the project management plan is created
The project manager is working with cost estimates in order to estabhsb a baseline for measuring project performance. What process is this?
Cost Management
Estimate Costs
Determine Budget
Control Costs
Monitoring cost expended to date in order to detect variances from the plan occurs during:
The creation of the cost change control system
Recommending corrective actions
Updating the cost baseline
Project performance reviews
You're thinking through what approach will make it easiest for the team to take responsibility for providing work performancc data for all aspects of the project. As part of this approach, you believe it will be helpful to make sure the team understands how and why the data will be analyzed. You explain to the team that the cost management plan contains a description of:
The project costs
How resources are allocated
The budgets and how they were calculated
The WBS level at which earned value will be calculated
A manufacturing project has a schedule performance index (SPI) of 0.89 and a cost performance index (l "Pl) of 0.91. Generally, what is the most likely explanation for why this occurred?
The scope was changed.
A supplier went out of business, and a new one needed to be found
Additional equipment needed to be purchased
A critical path activity took longer and needed more labor hours to complete
Although the stakeholders thought there was enough money in the budget, halfway through the project the cost performance index (CPI) is 0.7. To determine the root cause, several stakeholders audit the project and discover the project cost budget was estimated analogously. Although the activity estimates add up to the project estimate, the stakeholders think something was missing in how the estimate was completed. Which of the following describes what was missing?
Estimated costs should be used to measure CPI
SPI should be used, not CPI
Bottom-up estimating should have been used
Past history was not taken into account
In analyting problems that have occurred during testing, the team discovered that cause-and-effect diagramming is helpful in identifying the best place to focus their efforts. Their coordination of the interrelationships of the deliverables has improved, and the team has discovered efficiencies that have been shared with other projects and the organization for process improvement. This has made a difference in how well the project is aligning to the performance measurement baseline. Stakeholders are anticipating that control efforts and reporting on future projects will be easier. Earned value analysis is the basis for:
Performance reporting
Planning control
Ishikawa diagrams
Integrating the project components into a whole
The replacement of the inventory management and portion control system for an international restaurant chain has been prioritized as a key strategic objective for the organization. Stakeholders are very concerned about many aspects of the project. They have shared these concerns and ideas in workshops, focus groups, emails, and surveys. Identified risk are:
An input to the Estimate Costs process
An output of the Estimate Costs process
Not related to the Estimate Costs process
Both an input to and an output of the Estimate Costs process
There is confusion among some of the stakeholders about how the cost forecasts will be calculated on the project. They also have concerns about whether enough money has been set aside to cover the cost of risk responses. You are planning to share information in the upcoming team meeting and in report to stakeholders to clear up the confusion. You are referencing the stakeholder and communications management plans to determine how best to communicate with the stakeholders. You will explain that the difference between the cost baseline and the cost budget can be best described as:
The management reserves
The contingency reserves
The project cost estimate
The cost account
You provide a project cost estimate for the project to the project sponsor. He is unhappy with the estimate, because he thinks the price should be lower. He asks you to cut 15 percent off the project estimate. What should you do?
Start the project and constantly look for cost savings.
Tell all the team members to cut 15 percent from their estimates
Inform the sponsor of the activities to be cut
Add additional resources with low hourly rate
Cost risk means
There are risks that will cost the project money
The project is too risky from a cost perspective
There is a risk that project costs could go higher than planned.
There is a risk that the cost of the project will be lower than planner.
A Project manager is analyzing the project to find ways to decrease costs. It would be best if the project manager looks at:
Variable costs and fixed costs
Fixed costs and indirect costs
Direct costs and variable costs
Indirect costs and direct costs
