PHY 150 PROJECT ONE SUPPLY DROP
PLAN EXAM PREPARATION TEST BANK
WITH CORRECT ANSWERS
●● management reserve
Answer: An amount of the project budget withheld for management
control purposes. These are budgets reserved for unforeseen work that is
within scope of the project. The management reserve is not included in
the performance measurement baseline (PMB).
●● What are the levels of risk attitude?
Answer: Risk-averse, risk-neutral, risk-tolerant, and risk-seeking
●● What can a project manager do to communicate the formal project
announcement and relevant information to stakeholders, and then gain
their commitment?
Answer: Developed communications plan.
●● Expectancy theory
Answer: Expectancy theory proposes that employees are motivated
when they are given assignments they feel confident they can achieve,
when they value the compensation you offer and when they believe you
will compensate them as promised.
,●● A large risk to a project is identified, and the risk management plan is
executed. Upon completion of the approved actions, what should the
project manager do?
Answer: Identify new risks, and monitor residual risks
●● A vendor informs a project manager that the project's equipment can
be delivered earlier than anticipated. The project manager recognizes
that this is an opportunity to complete the project ahead of schedule.
What should the project manager do next?
Answer: Determine if there is a risk.
●● Residual risk
Answer: Residual risks are the leftover risks that are expected to remain
after the planned response of risk has been taken.
●● After weeks of dealing with conflicts, compromising, and achieving
the project goal, team members are focusing on documenting the lessons
learned to be shared with stakeholders, sponsors, and future project
teams.
What phase are they most likely in?
Answer: Adjourning
●● The project manager is having difficulties persuading stakeholders to
adopt new technlogy in the project.What should the project manager
have done to avoid this resistance?
, Answer: Engage stakeholders as early as possible
●● Accuracy
Answer: Within the quality management system, it is an assessment of
correctness
●● Adaptive Approach
Answer: A development approach in which the requirements are subject
to a high level of uncertainty and volatility and are likely to change
throughout the project
●● Alternative Analysis
Answer: A method used to evaluate identified options in order to select
the options or approaches to use to perform the work of the project
●● Analogous Estimating
Answer: A method for estimating the duration or cost of an activity or a
project using historical data from a similar activity or project
●● What are Tuckman's stages of team development?
Answer: Forming, Storming, Norming, Performing, and Adjourning.
PLAN EXAM PREPARATION TEST BANK
WITH CORRECT ANSWERS
●● management reserve
Answer: An amount of the project budget withheld for management
control purposes. These are budgets reserved for unforeseen work that is
within scope of the project. The management reserve is not included in
the performance measurement baseline (PMB).
●● What are the levels of risk attitude?
Answer: Risk-averse, risk-neutral, risk-tolerant, and risk-seeking
●● What can a project manager do to communicate the formal project
announcement and relevant information to stakeholders, and then gain
their commitment?
Answer: Developed communications plan.
●● Expectancy theory
Answer: Expectancy theory proposes that employees are motivated
when they are given assignments they feel confident they can achieve,
when they value the compensation you offer and when they believe you
will compensate them as promised.
,●● A large risk to a project is identified, and the risk management plan is
executed. Upon completion of the approved actions, what should the
project manager do?
Answer: Identify new risks, and monitor residual risks
●● A vendor informs a project manager that the project's equipment can
be delivered earlier than anticipated. The project manager recognizes
that this is an opportunity to complete the project ahead of schedule.
What should the project manager do next?
Answer: Determine if there is a risk.
●● Residual risk
Answer: Residual risks are the leftover risks that are expected to remain
after the planned response of risk has been taken.
●● After weeks of dealing with conflicts, compromising, and achieving
the project goal, team members are focusing on documenting the lessons
learned to be shared with stakeholders, sponsors, and future project
teams.
What phase are they most likely in?
Answer: Adjourning
●● The project manager is having difficulties persuading stakeholders to
adopt new technlogy in the project.What should the project manager
have done to avoid this resistance?
, Answer: Engage stakeholders as early as possible
●● Accuracy
Answer: Within the quality management system, it is an assessment of
correctness
●● Adaptive Approach
Answer: A development approach in which the requirements are subject
to a high level of uncertainty and volatility and are likely to change
throughout the project
●● Alternative Analysis
Answer: A method used to evaluate identified options in order to select
the options or approaches to use to perform the work of the project
●● Analogous Estimating
Answer: A method for estimating the duration or cost of an activity or a
project using historical data from a similar activity or project
●● What are Tuckman's stages of team development?
Answer: Forming, Storming, Norming, Performing, and Adjourning.
