Final Exam Part 1
Question
Question 1
Smoothing out project resources from period to period is called
Resource leveling
Resource allocation or resource limited planning
Better effort planning
Slack utilization planning
Question 2
Which of the following scheduling techniques is most appropriate today for managing a project?
BAR charts
Milestone charts
PERT charts
Precedence charts
Question 3
The major disadvantage of using a bar chart on large projects is that bar charts:
Answer
Cannot identify critical paths
Cannot identify milestones
Do not show dependencies between activities
Question 4
Laying out a network diagram when you know before-hand the size of the available resource pool is called:
Answer
Resource leveling
Resource allocation or resource limited planning
Better effort planning
Slack utilization planning
Question 5
Activities with zero time durations are called:
Answer
Low-slack activities
No-slack activities
Dummy activities
Special activities
Question 6
If the slack in a 12 week activity is 6 weeks and ES = 4, then LF = _____.
Answer
4
10
16
22
Question 7
Which of the following schedule compression techniques usually requires adding more resources to each work package that is being compressed?
Answer
Overtime
Crashing
Outsourcing
Descoping
Question 8
A charting technique designed to illustrate the inductive and deductive reasoning necessary to achieve some objective is called a _____ Diagram / network
Answer
Gantt
Logic
Descriptive
Intuition
Question 9
Which of the following is normally not one of the three critical parameters provided in information reporting to the customer?
Answer
Time
Cost
Performance
Risks
Question 10
Which type of chart provides the least “predictive†value?
Answer
Bar chart
PERT
ADM
PDM
Question 11
When a functional manager tells you that your project is 10% more difficult than the standard project, the functional manager is providing you with a _____ estimate.
Answer
Parametric
Analogy
Engineering
Grassroots
Question 12
Which of the following projects would most likely have reasonably good estimating techniques?
Answer
Construction
R & D
Software development
New product development
Question 13
An employee earning $40/hour works in a department where the overhead is 125%. A billable or charge back hour to this department would be:
Answer
$ 40
$ 50
$ 90
$ 100
4 points
Question 14
Which of the following is generally not part of capital budgeting?
Answer
Life cycle cost estimating
Net present value
Internal rate of return
Discounted cash flow
Question 15
Which of the following standard project estimating techniques is usually accomplished in weeks?
Answer
Parametric
Analogy
Engineering
Grassroots
Question 16
Material provided in a proposal to justify one- estimates are called:
Answer
Supporting pricing
Back-up data
Risk justification
Proprietary pricing
Question 17
Which of the following components of life cycle costing incurs the largest cost?
Answer
R & D
Production
Operational and Support
Disposal
Question 18
Pricing out the construction cost of a home by a cost per square foot would be representative of a _____ estimate.
Answer
Parametric
Analogy
Engineering
Grassroots
Question 19
The person or group with greatest ability to influence cost at project initiation is:
Answer
The customer/owner
The project manager
The project team
The users
Question 20
Variance envelopes are usually established because:
Answer
All cost variances must be accounted for and explained
Not all cost variances must be explained even though they exist
All schedule variances must be explained
All cost overruns require sponsor authorization
Question 21
Work that does not lend itself to subdivision into discrete scheduled increments of work, such as project support, is called:
Answer
Measurable effort
Level of effort
Discrete estimates
Work package effort
Question 22
A common cause for a favorable CV but unfavorable SV might be:
Answer
Too many workers on the project
Too few workers on the project
Crashing the project
Use of overtime
Question 23
The form that is used to establish charge numbers is the:
Answer
Responsibility Assignment matrix
Work authorization form
Work package
Cost account change notice
Question 24
If the schedule variance is positive and the cost variance is negative, the project- status is:
Answer
Over budget and behind schedule
Over budget and ahead of schedule
Under budget and behind schedule
Under budget and ahead of schedule
Question 25
The best method to price out a work package is to use the:
Answer
Average departmental labor rate
Average pay grade labor rate
Actual salary of the workers assuming they are known
Statistical data from the Payroll Department
Final Exam Part 2
Question 1
Which of the following is normally not one of the three parameters considered during tradeoffs?
Answer
Time
Cost
Performance
Financial risks
Question 2
Which of the following generally gets reduced during tradeoffs?
Answer
Time
Cost
Performance
Financial risks
Question 3
Assigning high, medium or low to a potential risk is part of:
Answer
Risk identification
Quantitative risk assessment
Qualitative risk assessment
Risk response
Question 4
Brainstorming, assumption analysis and WBS decomposition are techniques used for:
Answer
Risk identification
Risk assessment
Risk monitoring and control
Risk handling
Question 5
Which of the following is not considered to be an insurable risk?
Answer
Direct property damage
Indirect consequential loss
Legal liability
Inflation
Question 6
If a project manager awards a firm-fixed price contract to a supplier, he / she is using:
Answer
Acceptance/Assumption
Avoidance
Control/mitigation
Transfer
Question 7
Monte Carlo simulation is a technique used as part of:
Answer
Risk identification
Risk assessment
Risk monitoring and control
Risk handling
Question 8
Which risk handling mode is a project manager using if he / she throws out one of three designs for a new product?
Answer
Acceptance/Assumption
Avoidance
Control/mitigation
Transfer
Question 9
A technique that uses a series of probability distributions and then transforms them into various risks is called:
Answer
Probability estimating
Monte Carlo simulation
Estimating simulation
Black box analysis
Question 10
If a project manager believes in a proactive rather than reactive risk management approach, he/she is using:
Answer
Acceptance/Assumption
Avoidance
Control/mitigation
Transfer
Question 11
An intentional relinquishment of a legal right is a (n):
Answer
Infringement
Breach of contract
Waiver
Termination liability
Question 12
The type of contract where all of the seller- costs are reimbursed and the seller will also receive a percentage of the profit pool based upon how well the buyer likes the end result is a _____ contract.
Answer
Cost-sharing
Cost-plus-award-fee
Cost-plus-fixed-fee
Cost-plus-incentive-fee
Question 13
“Hygiene Factors†refers to:
Answer
How a contractor should respond to an RFP
The type of proposal expected by the seller
How and where contract negotiations will take place
How many bidder conferences will be held
Question 14
Which of the following is generally not included in a solicitation package?
Answer
Listing of qualified vendors
Past bidding history of qualified vendors
How changes will be managed
Supplier payment plan
Question 14
Which of the following is generally not included in a solicitation package?
Answer
Listing of qualified vendors
Past bidding history of qualified vendors
How changes will be managed
Supplier payment plan
Question 15
During contract negotiations, the goal of the buyer is to:
Answer
Get the seller to accept the greatest risk
Get the highest quality result for the lowest price
Get the seller to agree to scope changes at no cost to the buyer
Try to get the least amount of work done at the lowest price
Question 16
Which type of cost-plus contract provides the seller with a guaranteed dollar-value profit rather than as a percentage?
Answer
Cost-sharing
Cost-plus-award-fee
Cost-plus-fixed-fee
Cost-plus-incentive-fee
Question 17
Billing the cost of repairs against a financially closed out project is called _____.
Answer
Back charging
Refinancing
Order of precedence
Arbitration
4 points
Question 18
Which of the following is generally not part of “Conducting the Procurements�
Answer
Perform a make-or-buy analysis
Confirm qualified sources
Review past performance of sources
Produce a solicitation package
Question 19
Acceptance sampling is a statistical process for evaluating a portion of lot for the purpose of:
Answer
Measuring the weight of each sample
Measuring the length and width of each sample
Measuring the volume of each sample
Acceptance or rejection of the entire lot
Question 20
The cause and effect chart is used to _____.
Answer
Identify a problem
Determine its cause
Prioritize a solution
Decide upon a course of action
Question 21
Design of experiments is attributed to:
Answer
Deming
Juran
Crosby
Taguchi
Question 22
Which of the following is not one of the four categories of the cost of quality?
Answer
Prevention
Identification
Internal failures
External failures
Question 23
The collective term for the activities and techniques within the overall process is called:
Answer
Quality control
Quality assurance
Quality policies
Quality visions
Question 24
The balance between quality and cost is called:
Answer
Salability
Produceability
Operability
Availability
Question 25
The fact that random variation is always present in any process is called:
Answer
Common cause variability
Special cause variability
Assignable cause variability
Control limit variability
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