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project management

Questions and Answers of Project Management

Which type of contract arrangement is specifically designed to give a contractor relief for inflation or material/labor cost increases on a long-term contract?A. Cost plus percentage of costB.
Which of the following is not a factor to consider when selecting a contract type?A. Type/complexity of the requirementB. Urgency of the requirementC. Extent of price competitionD. All are factors to
In a fixed-price-incentive-fee contract, the “point of total assumption” refers to the point in the project cost curve where:A. The customer assumes responsibility for every additional dollar
A written preliminary contractual instrument prepared prior to the issuance of a definitive contract that authorizes the contractor to begin work immediately, within certain limitations, is known as
A contract entered into after following normal procedures (i.e., negotiation of terms, conditions, cost, and schedule) but prior to initiation of performance is known as a:A. Definitive contractB.
If a project manager requires the use of a piece of equipment, what is the breakeven point where leasing and renting are the same?A. 300 daysB. 30 daysC. 100 daysD. 700 days Cost Categories Annual
Which of the following is not a function of the contract administration activity?A. Contract change managementB. Specification interpretationC. Determination of contract breachD. Selection of the
fixed-price contract is typically sought by the project manager from the customer's organization when:A. The risk and consequences associated with the A A contracted task are large and the customer
Which of the following are typical actions a customer would take if the customer received nonconforming materials or products and the customer did not have the ability to bring the goods into
In which type of incentive contract is there a maximum or minimum value established on the profits allowed for the contract?A. Cost-plus-incentive-fee contractB. Fixed-price-incentive-fee contractC.
In which type of incentive contract is there a maximum or minimum value established on the final price of the contract?A. Cost-plus-incentive-fee contractB. Fixed-price-incentive-fee contractC.
A cost-plus-incentive-fee contract has the following characteristics:Sharing ratio: 80/20Target cost: $100,000Target fee: $12,000Maximum fee: $14,000Minimum fee: $9,000How much will the contractor be
Using the same data from Problem 20, and the same contract type, how much will the contractor be reimbursed if the cost of performing the work is $85,000?Data from problem 20A cost-plus-incentive-fee
Using the same data from Problem 23, and the same contract type, how much will the contractor be reimbursed if the cost of performing the work is $102,000?Data from problem 23An FPIF contract has the
Using the same data from Problem 23, and the same contract type, how much will the contractor be reimbursed if the cost of performing the work is $105,000?Data from problem 23An FPIF contract has the
Which of the following is not part of the generally accepted view of quality today?A. Defects should be highlighted and brought to the surface.B. We can inspect quality.C. Improved quality saves
Are all of the quality tools applicable to every project? If not, who decides which tools should be used?
In today's view of quality, who defines quality?A. Contractors' senior managementB. Project managementC. WorkersD. Customers
Who has the ultimate responsibility for the quality of the project, and why?
Which of the following are tools of quality control?A. Sampling tablesB. Process chartsC. Statistical and mathematical techniquesD. All of the above
You have just won a contract for an external client. Who determines the quality acceptance criteria?
Which of the following is true of modern quality management?A. Quality is defined by the customer.B. Quality has become a competitive weapon.C. Quality is now an integral part of strategic
On what type of projects, if any, can quality be viewed as inspection?
A company dedicated to quality usually provides training for:A. Senior management and project managersB. Hourly workersC. Salaried workersD. All employees
On what type of projects might it be necessary to perform 100 percent inspection rather than inspection sampling?
Which of the following quality gurus believe “zero-defects” is achievable?A. DemingB. JuranC. CrosbyD. All of the above
What are the components of Juran's Trilogy?A. Quality Improvement, Quality Planning, and Quality ControlB. Quality Improvement, Zero-Defects, and Quality ControlC. Quality Improvement, Quality
Which of the following is not one of Crosby's Four Absolutes of Quality?A. Quality means conformance to requirements.B. Quality comes from prevention.C. Quality is measured by the cost of
According to Deming, what percentage of the costs of quality is generally attributable to management?A. 100%B. 85%C. 55%D. 15%
Inspection:A. Is an appropriate way to ensure qualityB. Is expensive and time-consumingC. Reduces rework and overall costsD. Is always effective in stopping defective products from reaching the
A well-written policy statement on quality will:A. Be a statement of how, not what or why.B. Promote consistency throughout the organization and across projects.C. Provide an explanation of how
Quality assurance includes:A. Identifying objectives and standardsB. Conducting quality auditsC. Planning for continuous collection of dataD. All of the above
What is the order of the four steps in Deming's Cycle for Continuous Improvement?A. Plan, do, check, and actB. Do, plan, act, and checkC. Check, do, act, and planD. Act, check, do, and plan
Quality audits:A. Are unnecessary if you do it right the first timeB. Must be performed daily for each processC. Are expensive and therefore not worth doingD. Are necessary for validation that the
Which of the following are typical tools of statistical process control?A. Pareto analysisB. Cause-and-effect analysisC. Process control chartsD. All of the above
Which of the following methods is best suited to identifying the vital few ?A. Pareto analysisB. Cause-and-effect analysisC. Trend analysisD. Process control charts
When a process is set up optimally, what are the typical upper and lower specification limits?A. Set equal to the upper and lower control limits.B. Set outside the upper and lower control limits.C.
The upper and lower control limits are typically set:A. One standard deviation from the mean in each direction.B. 3 σ (three sigma) from the mean in each direction.C. Outside the upper and lower
Which of the following is not indicative of today's views of the quality management process applied to a given project?A. Defects should be highlighted and brought to the surface.B. The ultimate
If the values generated from a process are normally distributed around the mean value, what percentage of the data points fall within plus or minus three standard deviations of the mean?A. 99.7%B.
Honicker Corporation was well-recognized as a high-quality manufacturer of dashboards for automobiles and trucks. Although it serviced mainly US automotive and truck manufacturers, the opportunity to
Marvin was the president and chief executive officer (CEO) of his company. The decision of whether to bid on a job above a certain dollar value rested entirely on his shoulders. In the past, his
One of your team members plays golf with your external customer's project manager. You discover that the employee has been feeding the customer company-sensitive information. You should:A. Inform the
Your company has a policy that all company-sensitive material must be stored in locked filing cabinets at the end of each day. One of your employees has received several notices from the security
You have just received last month's earned-value information that must be shown to the customer in the monthly status review meeting. Last month's data showed unfavorable variances that exceeded the
You are working in a foreign country where it is customary for a customer to present gifts to the contractor's project manager throughout the project as a way of showing appreciation. Declining the
You are interviewing a candidate to fill a project management position in your company. On her resume, she states that she is a PMP®. One of your workers who knows the candidate informs you that she
You are managing a multinational project from your office in Chicago. Half of your project team are from a foreign country but are living in Chicago while working on your project. These people inform
PMI® informs you that one of your team members who took the PMP® exam last week and passed may have had the answers to the questions in advance provided to him by some of your other team members
One of your team members has been with you for the past year since her graduation from college. The team member informs you that she is now a PMP® and shows you her certificate from PMI®
Four companies have responded to your RFP. Each proposal has a different technical solution to your problem and each proposal states that the information in the proposal is company-proprietary
Lessons learned and best practices are captured:A. Only at the end of the projectB. Only after execution is completedC. Only when directed to do so by the project sponsorD. At all times but primarily
Radiance International (RI) had spent more than half a decade becoming a global leader in managing pollution, hazard, and environmental protection projects for its worldwide clients. It maintained 10
The person responsible for the identification of a best practice is the:A. Project managerB. Project sponsorC. Team memberD. All of the above
The primary benefit of capturing lessons learned is to:A. Appease the customerB. Appease the sponsorC. Benefit the entire company on a continuous basisD. Follow the PMBOK® Guide requirements for
The role of the project sponsor during project initiation is to assist in:A. Defining the project's objectives in both business and technical termsB. Developing the project planC. Performing the
The directorates of engineering, marketing, manufacturing, and R&D all had projects that they were working on and each directorate established its own priorities for the projects. The problem was
The role of the project sponsor during project execution is to:A. Validate the project's objectivesB. Validate the execution of the planC. Make all project decisionsD. Resolve problems/conflicts that
The role of the project sponsor during the closure of the project or a life-cycle phase of the project is to:A. Validate that the profit margins are correctB. Sign off on the acceptance of the
The document that officially sanctions the project is the:A. Project charterB. Project planC. Feasibility studyD. Cost-benefit analysis
The work breakdown structure “control points” for the management of a project are the:A. MilestonesB. Work packagesC. ActivitiesD. Constraints
Which of the following generally cannot be validated using a work breakdown structure?A. Schedule controlB. Cost controlC. Quality controlD. Risk managementUsing the work breakdown structure (WBS)
One of the most common reasons why projects undergo scope changes is:A. Poor work breakdown structureB. Poorly defined statement of workC. Lack of resourcesD. Lack of funding
The cost of WBS element 1.2.2.0 is:A. $20KB. $30KC. $50KD. Cannot be determined
The cost of WBS element 1.1.1 is:A. $12KB. $13KC. $25KD. Cannot be determined
The cost of the entire program (1.00.00) is:A. $25KB. $66KC. $91KD. Cannot be determined
The work packages in the WBS are at WBS level(s):A. 2 onlyB. 3 onlyC. 4 onlyD. 3 and 4
The performance measurement baseline is most often composed of three baselines:A. Cost, schedule, and risk baselinesB. Cost, schedule, and scope baselinesC. Cost, risk, and quality baselinesD.
Which of the following is (are) the benefit(s) of developing a WBS to low levels?A. Better estimation of costsB. Better controlC. Less likely that something will “fall through the cracks”D. All
Baselines, once established, identify:A. What the customer and contractor agree toB. What the sponsor and the customer agree toC. What the customer wants done but not necessarily what the project
One of your contractors has sent you an email requesting that they be allowed to conduct only eight tests rather than the 10 tests required by the specification. What should the project manager do
One of your contractors sends you an email request to use high quality raw materials in your project, stating that this will be value-added and improve quality. What should the project manager do
What are the maximum number of subsidiary plans a program management plan can contain?A. 10B. 15C. 20D. Unlimited number
The change control board, of which you are a member, approves a significant scope change. The first document that the project manager should updated would be the:A. Scope baselineB. ScheduleC. WBSD.
The shortest time necessary to complete all of the activities in a network is called the:A. Activity duration lengthB. Critical pathC. Maximum slack pathD. Compression path
Some executives prefer to micromanage projects whereas other executives are fearful of making a decision because, if they were to make the wrong decision, it could impact their career. In this case
Which of the following cannot be identified after performing a forward and backward pass?A. Dummy activitiesB. Slack timeC. Critical path activitiesD. How much overtime is scheduled
Which of the following is not a commonly used technique for schedule compression?A. Resource reductionB. Reducing scopeC. Fast-tracking activitiesD. Use of overtime
A network-based schedule has four paths, namely 7, 8, 9, and 10 weeks. If the 10-week path is compressed to 8 weeks, then:A. We now have two critical paths.B. The 9-week path is now the critical
The major disadvantage of using bar charts to manage a project is that bar charts:A. Do not show dependencies between activitiesB. Are ineffective for projects under one year in lengthC. Are
The first step in the development of a schedule is a:A. Listing of the activitiesB. Determination of dependenciesC. Calculation of effortD. Calculation of durations
Reducing the peaks and valleys in manpower assignments in order to obtain a relatively smooth manpower curve is called:A. Manpower allocationB. Manpower levelingC. Resource allocationD. Resource
Activities with no time duration are called:A. Reserve activitiesB. Dummy activitiesC. Zero slack activitiesD. Supervision activities
Optimistic, pessimistic, and most likely activity times are associated with:A. PERTB. GERTC. PDMD. ADM
The most common “constraint” or relationship in a precedence network is:A. Start-to-startB. Start-to-finishC. Finish-to-startD. Finish-to-finish
A network-based technique that allows for branching and looping is:A. PERTB. GERTC. PDMD. ADM
If an activity on the critical path takes longer than anticipated, then:A. Activities not on the critical path have additional slack.B. Activities not on the critical path have less slack.C.
Which of the following is not one of the three types of dependencies?A. MandatoryB. DiscretionaryC. InternalD. External
You have an activity where the early start is week 6, the early finish is week 10, the latest start is week 14, and the latest finish is week 18. The slack in this activity is:A. 4 weeksB. 6 weeksC.
Which of the following is a valid way of evaluating the financial feasibility of a project?A. Return on investmentB. Net present valueC. Internal rate of returnD. All of the above
Angelica just received the good news: She was assigned as the project manager for a project that her company won as part of competitive bidding. Whenever a request for proposal (RFP) comes into
The three common classification systems for estimates includes all of the following except:A. Parametric estimatesB. Quick-and-dirty estimatesC. Analogy estimatesD. Engineering estimates
In which organizational form is the worker in the greatest jeopardy of losing his or her job if the project gets canceled?A. Classical/traditionalB. ProjectizedC. Strong matrixD. Weak matrix
In which type of matrix structure would a project manager most likely have a command of technology?A. Strong matrixB. Balanced matrixC. Weak matrixD. Cross-cultural matrix
During project staffing, the primary role of senior management is in the selection of the:A. Project managerB. Assistant project managersC. Functional teamD. Executives do not get involved in
During project staffing, the primary role of line management is:A. Approving the selection of the project managerB. Approving the selection of assistant project managersC. Assigning functional
A project manager is far more likely to succeed if it is obvious to everyone that:A. The project manager has a command of technology.B. The project manager is a higher pay grade than everyone else on
Sandra is a project manager for an effort that requires 12 months. During the seventh, eighth, and ninth months, she needs two individuals with special qualifications. The functional manager has
Most people believe that the best way to train someone in project management is through:A. On-the-job trainingB. University seminarsC. Graduate degrees in project managementD. Professional seminars
In staffing negotiations with the line manager, you identify a work package that requires a skill set of a grade 7 worker. The line manager informs you that he will assign a grade 6 and a grade 8

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