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Sunday, October 23, 2011

Project Management Quiz - 11

1. The major disadvantage of a bar chart is:
[A]Lack of time-phasing.
[B]Cannot be related to calendar dates.
[C]does not show activity interrelationships.
[D]Cannot be related to manpower planning.
[E]Cannot be related to cost estimates.

2. Which contract type consists of - target costs & profit, ceiling prices and shared ratio of risk?
[A]Cost Plus Incentive Fee
[B]Cost Plus Percentage of Costs
[C]Cost Plus Fixed Fee
[D]Firm Fixed Price
[E]Firm Fixed Price Plus Incentive

3. Methods and techniques used to examine cost and technical data are called feasibility studies. The economic aspects of a feasibility study include interest rates, present worth factors, operating costs, depreciation and _____.
[A]Capitalization costs.
[B]Technical skill requirements.
[C]Technology forecasting.
[D]Strategic marketing intelligence.
[E]All of the above.

4. Standard of purchased material:
[A]Simplifies inventory control
[B]reduces the risk of obsolescence
[C]reduces cost of purchasing and storage
[D]All of the above.
[E]A and C only.

5. The "control points" in the work breakdown structure used for isolated assignments to work centers are referred to as:
[A]Work packages.
[D]Code of accounts.
[E]Integration points.

6. The utility of network-based schedules:
[A]Reveals interdependencies.
[B]Facilitates "what if" exercises.
[C]Highlights critical activities.
[D]Provides information on resource requirements, time requirements and tradeoffs.
[E]All of the above.

7. The way a project manager sends and receives information depends upon:
[A]How others relate to the project manager
[B]The project manager's level in the organizational hierarchy
[C]the size and nature of the project
[D]the project manager's salary and age
[E]the number of projects going on at one time in the company

8. Uncertainty refers to a situation where:
[A]the outcomes are known but their probabilities are high
[B]the outcomes and their probabilities are known
[C]neither the outcomes nor their probabilities are known
[D]states of nature can change at any time
[E]probabilities of various states of nature can change at any time

9. Which of the following is closet to Deming's definition of Quality:
[A]conformance to requirements.
[B]fitness for use.
[C]continuous improvement of products and services.
[D]customer focus.
[E]All of the above.

10. It is useful to conduct project risk assessment according to the project's
[B]statement of work
[C]Work Breakdown structure

11. Management decision-making includes:
[A]Analysis of alternatives.
[C]Resource allocation.
[D]Modification or updating of goals and objectives.
[E]All of the above.

12. The basic terminology for networks includes:
[A]Activities, events, manpower, skill levels and slack.
[B]Activities, documentation, events, manpower and skill levels.
[C]Slack, activities, events, and time estimates.
[D]Time estimates, slack, sponsorship involvement, and activities.
[E]Time estimates, slack time, report writing, life cycle phases, and crashing times.

13. The project manager must receive reports and briefings from engineers, contracting officers, procurement personnel and marketing people. The project manager's communication dilemma is one of:
[C]choice of a medium
[D]one-way communication
[E]All of the above.

14. The technique most commonly used to determine the profitability of a project includes _____ methods.
[A]Net present value (NPV).
[B]Return on investment (ROI).
[C]Discounted cash flow (DCF)
[D]Payout time and risk sensitivity analysis.
[E]All of the above.

15. Which of the following are part of the purchasing cycle:
[A]define need
[B]prepare and issue purchase order
[C]inspect incoming goods
[D]All of the above.
[E]A and B only