Project Management Quiz - 72

1. The bottom-up estimates generally have an accuracy of:
[A]-25% to +75%
[B]-25% to +30%
[C]-5% to +10%
[D]+15% to -15%


2. What are the three most common cost estimating techniques?
[A]Top-down, parametric and bottom-up
[B]Analogous, top down and bottom-up
[C]Parametric, bottom-up and detailed
[D]Monte Carlo, bottom-up and parametric


3. Cost baseline can:
[A]Change during the project life cycle
[B]Be affected by scope change
[C]Be affected by change in time schedule
[D]All of the above


4. Cost baseline is:
[A]Another name for cost estimates
[B]Given by upper management
[C]Time phased budget of project that is used to measure project's cost performance
[D]Provided in the contract to the customers


5. Zero defects, Continuous quality improvement and TQM:
[A]Advocate a proactive way to improve quality
[B]Rely on the workers to implement better quality
[C]Means that there are zero defects
[D]All of the above


6. A company wants to introduce a defect free environment. The authority and capability to introduce this:
[A]Lies with the project manager
[B]Lies with the management
[C]Lies with the functional manager
[D]Lies equally with - the project manager, the functional manager and management


7. A critical path is shown in a:
[A]WBS
[B]Bar chart
[C]Project network diagram
[D]Resource histogram


8. The critical path in a project network is the path that:
[A]Is the longest path in a network
[B]Is decided by a project manager
[C]Allows some flexibility in scheduling a start time
[D]Should be executed when other activities on a non critical paths have been finished


9. Which of the following impacts the critical path?
[A]Executing a forward pass
[B]Reduce the free float of an activity
[C]Executing a backward pass
[D]Changing the task duration of a critical path activity


10. The series of interconnected activities, which determine the duration of the project is known as:
[A]The critical path
[B]The free float plan
[C]The critical work plan
[D]The management plan


11. Project X has a total budget of $9 million and was to be completed in 8 months. While reviewing the progress of the project at the end of 3 months, the following data was presented: BCWS or PV = $3 Million; BCWP or EV = $2.5 Million and ACWP or AC = $3 Million. What is Estimate at Completion if the efficiency of capital deployed will change to 100% from now onwards:
[A]$9 Million
[B]$8.5 Million
[C]$9.5 Million
[D]$10.8 Million


12. Project X has a total budget of $9 million and was to be completed in 8 months. While reviewing the progress of the project at the end of 3 months, the following data was presented: BCWS or PV = $3 Million; BCWP or EV = $2.5 Million and ACWP or AC = $3 Million. What is Estimate at Completion if the efficiency of capital deployed remains the same?
[A]$3.6 Million
[B]$10.8 Million
[C]$7.5 Million
[D]$12 Million


13. Continuous Improvement Process or CIP is a quality concept that states:
[A]What is satisfactory today may become unsatisfactory tomorrow
[B]Does not advocate any great leap forward
[C]Management should keep looking for ways to improve and change processes
[D]All of the above


14. Zero defects states that:
[A]There are zero errors in a process
[B]There is no tolerance for any defects within the system
[C]See how to improve processes in order to avoid all defects
[D]B and C


15. The modern trend in quality is to:
[A]Focus more on customer satisfaction and conformance to requirements
[B]Give the customer more than what he wants
[C]Give the customer less than what he wants
[D]Rely on worker to maintain quality