Your team has identified over 100 risks associated with your project. The next step is to ____________________.

Mitigate all of the risks

evaluate each of the risks and determine the impact if it occurs

develop a plan for each of the risks you have identified

begin implementing the project and watch for any of the risks you have identified

Extra money is allocated in the management reserves to deal with activities where costs exceed estimates.

True

False

When you are creating a WBS, you continue to breakdown the larger deliverables until you have work packages that are small enough to perform an estimate of time and cost."

True

False

The Work Breakdown Structure is always created using a phased-in approach.

True

False

Reserve analysis means adding extra time to the schedule to account for potential risk

True

False

"Using the critial path method, the Early Start of a task is the Early Finish of the task preceding it."

True

False

Demming's cycle proved the concept that a well run quality program would create more savings for a company than the cost of its implementation.

True

False

Parametric estimating uses three estimates to generate a weighted average which best represents the overall resource requirement.

True

False

Planning for risk management begins only when the implementaiton phase has begun.

True

False

An aleatoric variable must be avoided at all costs, even if the cost of preventing the risk will be larger than the cost associated with the risk occuring.

True

False

Once you have identified all of the stakeholders, it is important to determine which group of stakeholders holds the most power and which group may have the greatest impact in the overall outcome of the project. "

True

False

The main benefits of a quality control program are: less reworking, higher productivity and efficiency, and more satisfaction from both the team and the customer."

True

False

Manufacturing an existing product, for example, a computer monitor, to fulfill customer orders is considered a project."

True

False

"The project manager is responsible for ensuring that requirements are documented, but the PM does not have to be the individual doing the documentation. "

True

False