Question 1 Which of the following statement is true: Not yet answered Select one: Marked out of 1.00 O a. Parametric estimating requires less information and time than analogous estimating. P Flag question O b. Top Down method is the most suited for activity estimate O C. Analogous estimating requires less information and time than Parametric estimating. O d. Pert is the most preferred estimation method in the early stages of Cost estimationQuestion 10 The process of developing an approximation of the cost of the monetary resources needed to Not yet answered complete project activities is known as: Marked out of Select one: 1.00 O a. estimate cost. P Flag question O b. estimate resources. O c. capital budgeting. O d. none of the above.Question 1 1 What does a staffing management plan describe? Not yet answered Select one: Marked out of O 1.00 a. When and how resources will be added to the project P Flag question b. How resources will be leveled O c. What resources will be used on the project O d. What skills are necessary on the projectQuestion 12 Where should a new project manager look to determine resource requirements? Not yet answered Select one: Marked out of 1.00 O a. Resource Gantt chart P Flag question O b. Project schedule O c. Work breakdown structure O d. Resource leveling chartQuestion 13 All the following are components of estimate cost process EXCEPT: Not yet answered Select one: Marked out of 1.00 O a. Cost of Quality. P Flag question O b. Mathematical analysis. c. Vendor bid analysis. O d. Analogous estimating.Question 14 A new store development project requires the purchase of various equipment, machinery, and Not yet answered furniture. The department responsible for the development recently centralized its external pu processes and standardized its new estimating costs policies and templates. In which documen Marked out of new estimate costs policies and templates should be found? 1.00 Flag question Select one: O a. Project WBS b. Basis of project estimating techniques O c. Organizational process assets O d. Project scope statementQuestion 15 A company is evaluating three consulting companies to find a consultant to perform profession Not yet answered services. They request information on how the three consulting companies allocate fringe bene their clients. What type of cost is the company asking about? Marked out of 1.00 Select one: P Flag question a. Fixed O b. Variable O C. Direct O d. IndirectQuestion 16 The approved time-phased project budget, excluding any management reserves, which can be Not yet answered changed only through formal change control procedures and is used as a basis of comparing a results, is called a Marked out of 1.00 Select one: P Flag question a. cost baseline. O b. control account. O c. cost benchmark. O d. measurement baseline.Question 17 If project time and cost are not as important as the number of resources used each month, wh Not yet answered the following is the BEST course of action? Marked out of Select one: 1.00 a. Analyze the life-cycle costs P Flag question O b. Perform resource leveling O C. Fast track the project O d. Perform a Monte Carlo analysisQuestion 18 In this technique the project's critical path is not changed and the completion date may not be Not yet answered delayed. Marked out of Select one: 1.00 O a. Rolling wave planning P Flag question b. Resource smoothing c. Crashing O d. Resource leveling. O e. Fast trackingQuesm 19 In MS Project. what does a resource Gantt chart show that a responsibility assignment matrix Not yet wavered "at? mud wt Select one: ' O a. Duration of Task 17 Fiagqueion @ b. Tasks Description 0 c. The person In charge of each task 0 o. The person accOuntable of each task I} Question 2 Which of the following is the most accurate method of cost estimation? Not yet answered Select one: Marked out of 1.00 O a. Top Down P Flag question b. Bottom Up O c. Approximate O d. PreliminaryQuestion 20 If funds remain unused from the contingency provision of any work package, this Not yet answered Select one: Marked out of 1.00 O a. Should be used by the PM for giving customer more than the scope P Flag question b. Must be lapsed and not used for any other purpose O c. Should be used for team member bonus d. Can be used for another work packageFinal Exam P Final Quiz Fall 2020 --209% Question 21 Which of the following costs will not be considered in the Human Resource Management Costs Not yet answered Select one: Marked out of 1.00 O a. Cost of Training Team Members P Flag question b. Cost of monitoring Team Members by the Project Manager O c. Cost of Firing Team Members O d. Cost of Hiring Team MembersQuestion 22 Your company is undergoing a change in ownership and the new owners are looking at the tote Not yet answered of all project initiatives. Which of the following would provide the BEST indicator to the new ow Marked out of Select one: 1.00 O a. Project life-cycle costs P Flag question b. Project costs based on analogous estimates c. Project budgets O d. Project costs based on bottom up estimatesQuestion 23 A team member who doesn't have the required skills or knowledge on cost estimation, which is Not yet answered current responsibility, was assigned to a team. Who is responsible for ensuring that he receives proper training on cost estimation methods? Marked out of 1.00 Select one: Flag question a. Sponsor O b. Functional manager C. Project manager d. Training coordinator_.__ _ 1.- _ _.__ __ Question 24 A project manager needs to ensure that the cumulative amount of cash coming into the pm} My: am or exceeds the demands for paying cash out In every month. To meet this need. he needs to p Select one: a. Schedule Baseline O b. Topvdown estimate 0 c. Cost Basellne 0 cl. Time phased budget 1.00 Question 25 In attempting to complete the project faster, the project manager looks at the cost associated v Not yet answered crashing each activity. The BEST approach to crashing would also include looking at the: Marked out of Select one: 1.00 O a. Boss's opinion of what activities to crash and in which order. P Flag question O b. Risk impact of crashing each activity. O c. Customer's opinion of what activities to crash. O d. Project phase the activity is due to occur in.Question 26 The key benefit of this process is that it defines the logical sequence of work to obtain the great Not yet answered efficiency given all project constraints. Marked out of Select one: 1.00 O a. Sequence Activities P Flag question O b. Define Activities O c. Develop Schedule O d. Estimate Activity Durations O e. Plan Schedule ManagementQuestion 27 A discretionary dependency is one that is based on: Not yet answered Select one: Marked out of 1.00 O a. The needs of the project sponsor. P Flag question O b. Experience. O c. The needs of someone outside the project. d. The nature of the work being done.Question 28 After analyzing the status of your project, you determine that the project is two weeks behind Not yet answered schedule. You want to recover the original schedule if possible, and there is plenty of remaining budget in the current plan. What is the BEST option? Marked out of 1.00 Select one: P Flag question a. Inform the team that overtime will be required for a short time to recover the schedule b. Compress the testing and quality management portion of the project O c. Crash the schedule O d. Reduce the scope of work with a change requestQuestion 29 You are using MS Project for your project. How many Days you can assign to any milestone? Not yet answered Select one: Marked out of 1.00 O a. Two Flag question O b. One O c. Four O d. ZeroQuestion 3 A new product development project has four levels in the work breakdown structure and has b Not yet answered sequenced using the PDM method. The activity duration estimates have been received. PM war shorten the schedule duration without reducing the project scope. What should be done NEXT Marked out of 1.00 Select one: P Flag question O a. Compress the schedule O b. Update the work breakdown structure O c. Create an activity list O d. Finalize the scheduleQuestion 30 As a project manager, you have been given responsibility for a project that is behind schedule. Not yet answered of the following is the MOST appropriate technique to compress the project in order to meet th original target date and budget? Marked out of 1.00 Select one: P Flag question O a. Fast tracking O b. Redo the plan O C. Crashing O d. PERTQuestion 4 The activity list should include descriptions of activities. This is required to: Not yet answered Select one: Marked out of 1.00 O a. Help in creation of technical documentation during the project life cycle P Flag question b. Provide as a reminder to the project manager. O c. Provide documented evidence of the scope of work. O d. Ensure that the team members understand how the project work is to be done.Question 5 A responsibility assignment matrix includes which two data points? Not yet answered Select one: Marked out of 1.00 O a. Activity and resource P Flag question O b. Resource and time estimate O c. Resource and usage each month O d. Activity and calendar dateQuestion 6 You are managing the project when you discover an estimated completion date will occur after Not yet answered desired date. What should you do FIRST? Marked out of Select one: 1.00 a. Explain to the customer that the project cannot be done on time Flag question b. Negotiate for more time O c. Add resources to the project O d. Evaluate the possibility of doing more activities in parallelQuestion 7 You are a project manager on a $15,000,000 software development project. While working with Not yet answered project team to develop a schedule network diagram, your data architects suggest that quality be improved if the data model is approved by senior management before moving on to the des Marked out of phase. They support this suggestion with an article from a leading software development journ 1.00 type of input is called a(n): Flag question Select one: O a. Internal Mandatory dependency. O b. External Discretionary dependency. C. External Mandatory dependency. O d. Mandatory Discretionary dependencyQuestion 8 During planning you discover that the time needed to complete the project is longer than the ti Not yet answered available. What would you do? Marked out of Select one: 1.00 a. Tell management that the required date cannot be met P Flag question O b. Determine options for crashing and/or fast tracking the project and present management with your recommended option O c. Tell the customer that the required date cannot be met O d. Spend time determining what work can be done for the length of time available and accomplish onl workQuestion 9 Which estimating technique uses historical data from a similar project as a starting point for cr Not yet answered time or cost estimate? Marked out of Select one: 1.00 O a. analogous estimating P Flag question O b. parametric estimating O c. Monte Carlo estimating O d. bottom-up estimating