1
CERTIFIED
CERTIFIED TEXAS CONTRACT MANAGER STUDY
REVIEW EXAM QUESTIONS WITH CORRECT VERIFIED
SOLUTIONS 100% GUARANTEED PASS
Work breakdown structure
Define work breakdown structure - ANS ✓Divides a project into smaller and
more manageable segments and is an effective way to handle complex and
lengthy projects
What is resource planning? - ANS ✓Determines what is needed for the project,
including people, time, equipment, supplies, materials, etc and how much those
resources are needed to perform project activities
List three project management charts - ANS ✓Bar or Gantt
Milestone
Network diagrams
List three types of cost management - ANS ✓Parametric modeling
Bottom-up estimating
Analogous
Define quality planning - ANS ✓Process concerned with the targeting quality
standards that are relevant to a project and devising a plan to meet those
standards
What are three costs associated with quality? - ANS ✓Preventative costs
Appraisal costs
CERTIFIED TEXAS
, 2
CERTIFIED
Failure costs
What are two types of risk? - ANS ✓Inherent risk
Accountability control risk
Risk management - ANS ✓The process of identifying, quantifying, and
mitigating project risks
Three criteria used for identifying risk - ANS ✓Sensitivity
Significance
Susceptibility
Risk identification - ANS ✓Identifying and documenting all risks that could
potentially impact the project.
Methods for managing risk - ANS ✓Avoidance
Transference
Mitigation
Acceptance
Four stages of team development - ANS ✓Forming
Storming
Norming
Performing
Types of organizational structures - ANS ✓Functional
Matrix
Projectized
CERTIFIED TEXAS
, 3
CERTIFIED
Teambuilding - ANS ✓- Create a common goal and ensure all team members can
articulate and are committed to achieving the goal.
- Ensure each team member knows and understands their responsibilities and
boundaries related to achieving the common goal.
- provide motivation, reward and recognition for the contributions of each
member.
Contracts/payment types - ANS ✓Fix price
Cost reimbursement
Cost sharing
Time and materials
Effective status process - ANS ✓Collects performance of critical metrics, which
are matched to project complexity and risk.
Four effective status processes - ANS ✓Performance reviews
Variance analysis
Trend analysis
Earned value analysis
Examples of earned value analysis - ANS ✓Planned value
Actual cost
Earned value
Estimate to completion - ANS ✓How much more budget is required to finish
the project if everything continues on the current level of performance
Estimate at completion - ANS ✓The actual cost of the project to date plus the
cost of the remaining work = current forecast for the ending budget
CERTIFIED TEXAS
CERTIFIED
CERTIFIED TEXAS CONTRACT MANAGER STUDY
REVIEW EXAM QUESTIONS WITH CORRECT VERIFIED
SOLUTIONS 100% GUARANTEED PASS
Work breakdown structure
Define work breakdown structure - ANS ✓Divides a project into smaller and
more manageable segments and is an effective way to handle complex and
lengthy projects
What is resource planning? - ANS ✓Determines what is needed for the project,
including people, time, equipment, supplies, materials, etc and how much those
resources are needed to perform project activities
List three project management charts - ANS ✓Bar or Gantt
Milestone
Network diagrams
List three types of cost management - ANS ✓Parametric modeling
Bottom-up estimating
Analogous
Define quality planning - ANS ✓Process concerned with the targeting quality
standards that are relevant to a project and devising a plan to meet those
standards
What are three costs associated with quality? - ANS ✓Preventative costs
Appraisal costs
CERTIFIED TEXAS
, 2
CERTIFIED
Failure costs
What are two types of risk? - ANS ✓Inherent risk
Accountability control risk
Risk management - ANS ✓The process of identifying, quantifying, and
mitigating project risks
Three criteria used for identifying risk - ANS ✓Sensitivity
Significance
Susceptibility
Risk identification - ANS ✓Identifying and documenting all risks that could
potentially impact the project.
Methods for managing risk - ANS ✓Avoidance
Transference
Mitigation
Acceptance
Four stages of team development - ANS ✓Forming
Storming
Norming
Performing
Types of organizational structures - ANS ✓Functional
Matrix
Projectized
CERTIFIED TEXAS
, 3
CERTIFIED
Teambuilding - ANS ✓- Create a common goal and ensure all team members can
articulate and are committed to achieving the goal.
- Ensure each team member knows and understands their responsibilities and
boundaries related to achieving the common goal.
- provide motivation, reward and recognition for the contributions of each
member.
Contracts/payment types - ANS ✓Fix price
Cost reimbursement
Cost sharing
Time and materials
Effective status process - ANS ✓Collects performance of critical metrics, which
are matched to project complexity and risk.
Four effective status processes - ANS ✓Performance reviews
Variance analysis
Trend analysis
Earned value analysis
Examples of earned value analysis - ANS ✓Planned value
Actual cost
Earned value
Estimate to completion - ANS ✓How much more budget is required to finish
the project if everything continues on the current level of performance
Estimate at completion - ANS ✓The actual cost of the project to date plus the
cost of the remaining work = current forecast for the ending budget
CERTIFIED TEXAS
