C722 Project Management - Unit 5
& 6 Questions with Accurate
Answers
--------- is the proactive planning for risks that occur during the project
management process from the time you define the project through
project execution. correct answer Risk Management
---------- is the degree of uncertainty an entity is willing to take on in
anticipation of a reward. correct answer Risk Appetite
---------- is the term used for initial estimates in estimating project costs.
correct answer Rough costs
---------- refers to measurements along the level of uncertainty or the
level of impact at which a stakeholder may have a specific interest.
correct answer Risk Threshold
A ---------- is a characteristic, function, or capability that must be present
in the project final outcome. correct answer project requirement
A ----------- is an amount added to the overall project budget to cover
unknown risks. correct answer management reserve
,A potential challenge of using agile project management methods is
that they depend heavily on the regular availability and ---------- of the
customer. correct answer decisiveness
A project's ----------, budget, and schedule are developed during the
planning processes. correct answer scope
Agile project management methods are known for being ---------- to
changes in customer needs and the project environment. correct
answer responsive
All planning documents are ----------. correct answer "living documents"
As a project manager, when you come to a cliff and decide to mitigate
the risk, you ________. correct answer use a parachute or a hang glider
for a soft landing.
(When you mitigate a problem, you want to help the team survive the
risk by deferring or reducing the impact.)
As a project manager, which strategy for responding to risks should be
your first consideration, keeping in mind it is usually also the most
expensive? correct answer Avoid risk.
(Avoiding risk in the first place should be your first choice if you can
afford it.)
,Because it involves delivering a project after repeated short bursts of
work, agile project management is considered a(n) --------- approach to
project management. correct answer iterative
(Using agile project management, deliverables are made in usable
chunks, produced in short bursts of approximately two weeks each.)
Because the activity durations will be integrated with the activity
sequencing to become the approved schedule, who should have
primary input into the duration estimates? correct answer The team
member doing the work
(The team member doing the work will have a better idea of how long
an activity should take.)
Besides the project team and project manager, who is most important
to the agile project management process? correct answer The customer
(Agile project management depends on the customer's availability and
decisiveness, because they inform each iteration of work. Functional
deliverables are made regularly.)
Creating the project scope statement is a(n) ---------- between the
project team and the customer. correct answer iterative process
Developed for the Dupont Corporation to estimate activity time
durations, this method assumes time can be reliably estimated. correct
answer CPM
, Developed in the 1950s for the U.S. Navy, this method uses statistical
analysis to estimate activity duration times. correct answer PERT
Direct costs refer to resources that ---------- be related to a specific work
activity. correct answer can
During which phase does scope verification occur? correct answer
Closing
Examples of objectives that the WBS is used to achieve include
organizing a project's resources, showing milestones for communicating
progress, and ---------- the project scope. correct answer validating
stakeholders' understanding of
Extreme project management methods are biased more toward
---------- than planning. correct answer human resources
(Extreme project management methods require project teams to
problem-solve collaboratively.)
Focuses on managing the uncertainties of a project and builds buffers
into the schedule to prevent key activities from failing. correct answer
Critical Chain
Focuses on the specification of outputs, including very specific
processes and terminology. correct answer PRINCE2
& 6 Questions with Accurate
Answers
--------- is the proactive planning for risks that occur during the project
management process from the time you define the project through
project execution. correct answer Risk Management
---------- is the degree of uncertainty an entity is willing to take on in
anticipation of a reward. correct answer Risk Appetite
---------- is the term used for initial estimates in estimating project costs.
correct answer Rough costs
---------- refers to measurements along the level of uncertainty or the
level of impact at which a stakeholder may have a specific interest.
correct answer Risk Threshold
A ---------- is a characteristic, function, or capability that must be present
in the project final outcome. correct answer project requirement
A ----------- is an amount added to the overall project budget to cover
unknown risks. correct answer management reserve
,A potential challenge of using agile project management methods is
that they depend heavily on the regular availability and ---------- of the
customer. correct answer decisiveness
A project's ----------, budget, and schedule are developed during the
planning processes. correct answer scope
Agile project management methods are known for being ---------- to
changes in customer needs and the project environment. correct
answer responsive
All planning documents are ----------. correct answer "living documents"
As a project manager, when you come to a cliff and decide to mitigate
the risk, you ________. correct answer use a parachute or a hang glider
for a soft landing.
(When you mitigate a problem, you want to help the team survive the
risk by deferring or reducing the impact.)
As a project manager, which strategy for responding to risks should be
your first consideration, keeping in mind it is usually also the most
expensive? correct answer Avoid risk.
(Avoiding risk in the first place should be your first choice if you can
afford it.)
,Because it involves delivering a project after repeated short bursts of
work, agile project management is considered a(n) --------- approach to
project management. correct answer iterative
(Using agile project management, deliverables are made in usable
chunks, produced in short bursts of approximately two weeks each.)
Because the activity durations will be integrated with the activity
sequencing to become the approved schedule, who should have
primary input into the duration estimates? correct answer The team
member doing the work
(The team member doing the work will have a better idea of how long
an activity should take.)
Besides the project team and project manager, who is most important
to the agile project management process? correct answer The customer
(Agile project management depends on the customer's availability and
decisiveness, because they inform each iteration of work. Functional
deliverables are made regularly.)
Creating the project scope statement is a(n) ---------- between the
project team and the customer. correct answer iterative process
Developed for the Dupont Corporation to estimate activity time
durations, this method assumes time can be reliably estimated. correct
answer CPM
, Developed in the 1950s for the U.S. Navy, this method uses statistical
analysis to estimate activity duration times. correct answer PERT
Direct costs refer to resources that ---------- be related to a specific work
activity. correct answer can
During which phase does scope verification occur? correct answer
Closing
Examples of objectives that the WBS is used to achieve include
organizing a project's resources, showing milestones for communicating
progress, and ---------- the project scope. correct answer validating
stakeholders' understanding of
Extreme project management methods are biased more toward
---------- than planning. correct answer human resources
(Extreme project management methods require project teams to
problem-solve collaboratively.)
Focuses on managing the uncertainties of a project and builds buffers
into the schedule to prevent key activities from failing. correct answer
Critical Chain
Focuses on the specification of outputs, including very specific
processes and terminology. correct answer PRINCE2
