Wednesday, November 2, 2011

Project Management Quiz - 23

1. Once the logic of a network is laid out, the project manager will conduct a forward pass and backward pass through the network. This will provide information on the _____ and identification of the _____ .
[A]Slack for each activity, critical path.
[B]Slack for each activity, high risk activities.
[C]Manpower shortages, high risk activities.
[D]High risk activities, non-critical paths.
[E]Manpower availability, contingency plans.

2. Project managers need exceptionally good communication and negotiation skills primarily because:
[A]They may be leading a team over which they have no direct control
[B]Procurement activities mandate this
[C]They are expected to be technical experts
[D]They must provide executive/customer/sponsor briefings
[E]All of the above

3. Risk can be divided into two basic types; business risk and pure (or insurable risk). Of the following, which one(s) fall(s) under business risk?
[A]liability loss
[B]direct property loss
[C]profit loss
[D]personnel-related loss
[E]B and C

4. The purpose of project Risk Management is to:
[A]Identify those factors that will adversely impact project objectives.
[B]Assess the impact of adverse project factors.
[C]Assess the probability of adverse project factors.
[D]A and C
[E]All of the above.

5. Which of the following factors has historically been the greatest contributor to project failure?
[A]Planning performed by a planning group.
[B]Poor financial estimates.
[C]Lack of sufficient management reserve.
[D]Lack of management support.
[E]Not using an automated tracking tool.

6. Which type of process involves the agency holding discussions with each of the offerors, after receipt of their proposals, in the process of arriving at an agreement prior to the award of a contract?
[A]Sealed bidding
[B]Competitive proposals
[C]Noncompetitive proposals
[D]Formal bid
[E]Verbal bid

7. A non-critical path activity is completed in half the time. Then,
[A]The critical path is also reduced.
[B]The slack in the path containing this activity will increase.
[C]The total cost for this activity has decreased.
[D]Manpower from this activity can be assigned to other activities.
[E]All of the above.

8. An element in the WBS was estimated to require 1 month for completion with 1000 hours of labor and a burdened cost of $50K. The task was completed in 1000 hours but a burdened cost of $60K. The most likely reason for the increase would be:
[A]Higher salaried employees were assigned.
[B]Overtime was required.
[C]The overhead rate increased.
[D]Employee salaries had increased.
[E]Any of the above

9. In the past, most project managers have come from _____ fields without proper _____ training or education in skills
[A]Technical; accounting/finance
[B]Technical; management
[C]Technical; psychological
[D]Marketing; technology-oriented
[E]Business; manufacturing know-how

10. The Risk of NOT meeting project quality objectives:
[A]can be minimized through continuous monitoring.
[B]considered a long term risk.
[C]will be reflected in the "in-service" life of the product or service.
[D]B and C
[E]All of the above.

11. The main player in project communication is the
[B]project manager
[C]functional manager
[D]functional team
[E]All of the above.

12. The type of contract (payment mechanism) chosen for a project is often a reflection of the degree of risk associated with completing that project. For a firm fixed price contract, payment for risk _____ .
[A]Is accomplished by paying the actual costs to the contractor.
[B]Is accomplished by paying the contractor for his costs plus a fixed fee (profit).
[C]Is an undisclosed contingency in the contractor's bid.
[D]Is accomplished by paying for the budgeted costs of dealing with risks, as predicted in the project risk assessment.
[E]B and C

13. Which is not an element of procurement management?
[E]B and D

14. Which percent of the total project labor hours are typically expended by the end of the second phase of the project life cycle?

15. Bar charts are most appropriate for:
[A]Comparing actual to planned performance to each activity.
[B]Showing slack time.
[C]Showing critical path dependencies.
[D]Showing which activities can be rearranged in parallel.
[E]All of the above.