Fill in the blank. The _____ is the difference between the additional money spent on prevention and the corresponding reduction in the cost of failure.

a.cost-benefit analysis

b.implicit cost

c.cost of quality

d.variable cost

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In project planning, it explains...................... that are needed to for the growth of product.

a.a series of actions

b.steps

c.both a, b

d.none of the above

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In resource allocation, the resources are allocated to a project in order that the................... are attained

a.Goals

b.Objectives

c.Both a, b

d.None of the above

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Which of the following project baselines provides the basis for measurement of the expected cash flow against requirements over time and is often displayed as an S curve? Select one:

a.Schedule baseline

b.Cost performance baseline

c.Scope baseline

d.Plan baseline

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In Project Management, the end users and developers require to know the

a.cost of the project,

b.duration

c.Length

d.All the above

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A project budget estimate that is developed with the least amount of knowledge is known as which of the following? Select one:

a.Rough order of magnitude (ROM) estimate

b.Scope of work estimate

c.Conceptual estimate

d.Line estimate

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Which of the following types of Organizational Charts can be BEST used to track project costs :

a.Hierarchical-type Organizational Chart

b.Organizational Breakdown Structure

c.Resource Breakdown Structure

d.Responsibility Assignment Matrix

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According to a statistical report: "over 30% of all projects are cancelled before completion and over 70% of the remainder fail to deliver expected features". What must be the reason for such a situation ?

a.Poor change management

b.Poor requirements management

c.Poor quality control

d.All of the mentioned

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A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000?

a.Cost Variance

b.Management Overhead

c.Management Contingency Reserve

d.Schedule Variance

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If the Earned Value is equal to Actual Cost, it means:

a.Project is on budget and on schedule

b.Schedule Variance Index is 1

c.There is no schedule variance

d.There is no cost variance

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As a project manager, John was finally relieved because a major project led by him was just announced a success. which of the following has likely happened in order to consider John's project a success? Select one:

a.John's project has met all of the stakeholders' expectations.

b.The phase completion of John's project has been approved.

c.John's client has paid off the project.

d.John's boss is happy.

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Effective project management focuses on the four P's. What are those four P's?

a.People, performance, payment, product

b.People, product, process, project

c.People, product, performance, project

d.All of the above

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When a project manager starts to plan a new project budget, the cost of which project management process group is expected to be lowest? Select one:

a.Initiating

b.Executing

c.Monitoring and controlling

d.Closing

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which of the following statements is right in terms of using reserve analysis to determine a project budget? Select one:

a.Reserve analysis always plans contingency reserves for unexpected project scope and project costs, which are part of your project budget.

b.Reserves should not be included in the project budget.

c.Planning contingency reserves for a project is not practical.

d.Contingency reserves have never been a concern when planning a project budget.

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which of the following statements is right in terms of using reserve analysis to determine a project budget ? Select one:

a.Reserve analysis always plans contingency reserves for unexpected project scope and project costs, which are part of your project budget.

b.Reserves should not be included in the project budget.

c.If you only have limited resources, you may completely ignore reserve analysis when you try to determine your project budget.

d.Planning contingency reserves for a project is not practical.

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What is the most critical aspect in developing a project plan that meets project specifications within the timeframe and at the lowest costs? Select one:

a.Assessing risk management

b.Providing documents that specifically comply with the quality standards in use

c.Emphasizing error prevention and customer satisfaction

d.Developing a project execution plan that matches the complexity level of the project

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Choose the correct option according to given below statement. Statement 1: Umbrella activities are independent of any one framework activity and occur throughout the process. Statement 2: quality assurance, configuration management are umbrella activity. Statement 3: quality assurance, configuration management are not umbrella activity.

a.Only statement 1 is correct.

b.Statement 1 and statement 2 are correct.

c.Only statement 3 is correct.

d.Statement 1 and statement 3 are correct