risk
A project team identified a risk which has a high probability and high impact though the effort needed to manage it is not very high. The risk can be said to have a high:
Strategic Impact
Connectivity
Propinquity
Manageability
What is manageability?
You have been experiencing unplanned scope changes (known as scope creep) during project execution. To get control over this problem, you should develop a:
Contract statement of work
Scope statement
Scope management plan
Revised project baseline
What is Scope management plan?
The personality trait that accepts others for what and who they are is called:
Courteous
Social
Authentic
Emotional
What is authentic?
Configuration management is any documented procedure used to apply technical and administrative direction and surveillance in order to:
Maintain an objective measurement of project status
Control changes to the project's artifacts and control changes to their characteristics
Ensure senior management is apprised of performance issues
Define performance objectives for earned value
What is Control changes to the project's artifacts and control changes to their characteristics?
Which of the following statements about closing procurements is most accurate?
Can take place in any project phase whenever all aspects of a contract are completed
All procurements associated with a project are closed during project closeout
Procurements associated with a project cannot be officially closed until the project has been closed out
The project manager always closes procurements
What is can take place in any project phase whenever all aspects of a contract are completed?
DAILY DOUBLE
You are conducting a risk analysis and determine that an identified risk could go in one of two possible directions. On the one hand, the risk could pose a potential threat to your project budget with an assessed probability of 70 percent and an impact of $200,000. Alternatively, the risk can be viewed as an opportunity with a 40 percent probability of occurrence and an impact of $150,000. The EMV of this risk is:
240000
80000
$200,000
-80000
What is -80000?
A hybrid life cycle is a combination of:
Predictive and adaptive life cycles
Iterative and incremental life cycles
Predictive and incremental life cycles
Iterative and adaptive life cycles
What is Predictive and adaptive life cycles?
The project manager should ensure that project performance is recorded. All kinds of performance should be made available to project stakeholders in the interest of transparency EXCEPT:
Status reporting related to schedule and budget metrics
Progress that the team has accomplished and where the project now stands
Performance evaluations of the individual team members
Predictions of future project forecasts
What is Performance evaluations of the individual team members?
DAILY DOUBLE
All of the following are examples of project records that get updated during project execution, EXCEPT:
Correspondence
Memos
Corporate resolutions
Meeting minutes
what is corporate resolutions?
All of the following statements regarding Scope Validation are false EXCEPT:
Need not be accomplished if the project is terminated early
Is generally performed prior to quality control
Deals with the acceptance of the deliverables whereas quality control deals with the correctness of the deliverables
Must take place at the work package levels
What is Deals with the acceptance of the deliverables whereas quality control deals with the correctness of the deliverables?
Risk monitoring enables the project manager to keep track of the identified risks throughout the project. All of the following are objectives of risk monitoring EXCEPT:
Risk management policies are being followed
Project assumptions are still valid
Project charter is on track to achieve the business benefits
Contingency reserves are sufficient to deal with the number of project risks identified
What is project charter is on track to achieve the business benefits?
As a project manager working to deploy a large solar array panel, you will communicate in all of the following directions EXCEPT:
Downward to the project team
Upward to the project sponsor and key management
Horizontal to peers
Outward to the public
What is outward to the public?
The type of PMO that provides support, requires compliance, and does not run projects is:
Controlling
Supportive
Hybrid
Directive
What is controlling?
A project manager is working on a project with a large number of influential stakeholders and often needs to make presentations to the stakeholders. Which of the following is most important for making successful presentations?
Preparation of an agenda and preventing the audience from deviating from it
Understanding of the audience expectations and needs
Demonstrating active listening techniques including acknowledging and clarifying
Use of facilitation techniques to maintain group interest and enthusiasm
What is Understanding of the audience expectations and needs?
You are the project manager on a very large construction project. As such, it is important that you ensure that the right physical resources are available to the project at the right time. This process is known as:
Acquire Resources
Manage Resources
Control Resources
Plan Resource Management
What is plan resource management?
You have been using a top-ten approach for tracking risks, focusing on those top ten risks that have the highest probability of occurrence and the highest impact. The lower risks identified on the project should:
Be kept on the back-burner unless the events actually occur
Have a workaround plan prepared in the event they do occur
Should be reassessed on a quarterly basis to see if their risk score has changed
Be placed on a watch list to ascertain if they might become important at some future date
What is Be placed on a watch list to ascertain if they might become important at some future date?
You decide to use a dashboard chart to indicate risk levels on your project. Red represents high-risk events that require sponsor approval of the risk handling strategy. Yellow is a moderate risk allowing for the project team to approve the risk response. What process is being worked upon?
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Implement Risk Responses
Plan Risk Management
What is plan risk management?
Top project managers spend _____ of their time communicating.
75%
50%
90%
Less than 50%
What is 90%?
Project files from previous projects should be stored in:
Organizational knowledge repositories
Lessons learned repositories
Enterprise environmental factors
Data warehouses
What is Organizational knowledge repositories?
During a project review meeting, you discover that your $900,000 project has a negative schedule variance of $20,000 that equates to 5% of the work scheduled to this point in time. Your sponsor is demanding to know the status of the project. Your next move is to:
Report that the project will be completed behind schedule
Report that the critical path has been lengthened
Report that the costs are being overrun
Report that you will have to gather more data before drawing any conclusions
What is Report that you will have to gather more data before drawing any conclusions?
A project has a 75 percent chance of successfully achieving its $500,000 objective and a 25 percent chance of an equal amount of loss. The expected monetary value of this project is:
$500,000 gain
$250,000 gain
$250,000 loss
$125,000 loss
What is $250,000 gain?
By decomposing the project into smaller more manageable components and tasks, which one of the following will be accomplished?
More than one person can be assigned to each task
Costs can be more easily estimated
Project risks will be eliminated
A change control process will not be required
What is Costs can be more easily estimated?
In a functional organizational structure, the project manager's authority is:
Moderate to high
Low
Little or none
Low to moderate
What is little or none?
Which one of the following best describes a critical challenge to project team development when working in a matrix environment:
High management involvement
Wage and salary administration for full-time employees
Dual reporting relationship
Involved sponsor
What is dual reporting relationship?
The graphical representation of actual observations against a target value used to track stability of a process is called:
Pareto chart
Control chart
Fishbone chart
Scatter diagram
What is control chart?