Project Management Quiz - 37

1. Project life cycles provide a better means of measurement of progress and control. The four phases of a project are conceptual development, _____, _____, and _____.
[A]Preliminary planning, detail planning, closeout
[B]Implementation, reporting, termination
[C]Development, implementation, termination
[D]Execution, reporting, finishing
[E]Implementation, termination, post-audit review



2. Response Planning is the responsibility of the functional areas and considers
[A]mitigation.
[B]deflection.
[C]contingency planning.
[D]unforeseen occurrences.
[E]All of the above.



3. The definitive terms of a contract are written during which of the following contract phases?
[A]Contract Phase
[B]Post-Award Phase
[C]Award Phase
[D]Pre-Award Phase
[E]Requirement Phase



4. The sending or conveying of information from one place to another is the process of
[A]Networking
[B]Transmitting
[C]Interacting
[D]Promoting
[E]Interfacing



5. Which of the following types of cost are relevant to making financial decisions:
[A]sunk cost
[B]opportunity cost
[C]material cost
[D]A and C only
[E]B and C only



6. In preparing a good project definition, experienced project managers will:
[A]Concentrate mainly on the end product rather than costs or benefits. These come later.
[B]Realize that only the "tip of the iceberg" may be showing. As a project manager, you must get beneath it.
[C]Understand that a project definition/plan is a dynamic rather than static tool, and thus subject to change.
[D]Try to convert objectives into quantifiable terms.
[E]All of the above



7. In which of the following is the cost of risk hidden by the contractor?
[A]Firm Fixed Price Contract
[B]Fixed Price Plus Incentive
[C]Cost Plus Fixed Price
[D]Cost Plus Percentage of Cost
[E]A and B



8. Management of a certain building was receiving complaints about slow elevator service. The solution adopted was to add mirrors in the lobbies to reduce boredom while passengers waited. This is an example of _____ .
[A]Kepner-Tregoe method
[B]Potential problem analysis
[C]Decision analysis
[D]Creative problem solving
[E]None of the above



9. Pure Risk differs from Business Risks because Pure Risk's _____ .
[A]include chances of both profit or loss associated with the business.
[B]include chances of loss and no chances for profit associated with the business.
[C]must incur personal loss with business liability.
[D]must incur business liability associated with loss of pure profit.
[E]B and C



10. The actual configuration of a PERT/CPM network _____ the amount of resources that can be devoted to the project.
[A]Increases.
[B]Is not affected by
[C]Does not require
[D]Is heavily dependent upon
[E]Is the only means of determining



11. The following types of costs are relevant to making a financial decision except:
[A]opportunity costs
[B]direct costs
[C]sunk cost
[D]unavoidable costs
[E]None of the above



12. The standard types of communication include all but
[A]Written
[B]Verbal
[C]Telepathic
[D]Nonverbal
[E]None of the above



13. _____ of the extra costs of the project can often be attributed to a lack of quality.
[A]0.12
[B]0.15
[C]0.2
[D]0.25
[E]less than 10%



14. A budget estimate should give the manager cost data accurate to within:
[A]-5 to +10 percent of actual cost
[B]-25 to +75 percent of actual cost
[C]-30 to +75 percent of actual cost
[D]-10 to +25 percent of actual cost
[E]None of the above



15. All of the following are categories of a milestone in a schedule except:
[A]End date.
[B]Contract dates.
[C]Key events scheduled.
[D]Imposed dates.
[E]Task duration.