Project Managememt

"Fill in the blank" question: select the correct answer. In reviewing chef Caesar's request for some additional specialized kitchen utensils he says he cannot live without, you need to compare the request with the ___. a. critical path b. baseline c. milestone correct answer b. baseline This is a change in scope. Any requests for changes to the project scope will be compared with the baseline. A decrease in project scope would have no effect on cost or schedule. correct answer...

___________ use a series of questions to evaluate each potential project and then the answers to the questions would be compared to determine whether a project is accepted or rejected. A. Non-numeric project selection models B. Checklist project selection models C. Profit/Profitability project selection models correct answer B ____________ activities that occur during the project closing phase include preparation of performance reports, return of assets to the sponsoring organizations, arc...

- 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 l...

A business scenario is a description of a business situation or problem that describes what 3 things? correct answer past events that are relevant current key information expected or desired outcomes A Gantt chart is an example of a __________ tool. Collaboration Scheduling correct answer Scheduling Correct! Project managers use Gantt charts in the process of scheduling. A project is successful if it meets the triple constraints of what 3 things? correct answer scope, schedule, ...

(O+4M+P)/6 correct answer beta distribution Activity Duration=(O+4M+P)/6 (p-o)/6 correct answer What is the activity standard deviation formula? 1. traditional 2. extreme 3. agile correct answer name the project management method: 1. planning and sequential steps 2. focus on HR and is high stress 3. volatile and scope is likely to change, customer needs to remain in touch during project 5 4 correct answer Project process groups have ______ steps and project life cycle...

____________ are temporary endeavors with a specified start and end date that exist to develop a unique product, service, or result. correct answer Projects ____________ are the on-going, daily activities of an organization that produces revenue and expense. correct answer Operations ____________ calculates the amount of time required to earn back the cost of doing the project. correct answer Payback period ____________ consists of the activities, methods, tactics, etc. that will be emp...

A Guide to Project Management Body of Knowledge (PMBOK Guide) correct answer The project management standard developed by the Project Management Institute. Acceptance correct answer The decision to tolerate the defects that are found as a result of the quality testing. This is also a tool for risk response planning. Acceptance criteria correct answer The process and the criteria that will be used to determine whether the deliverables are acceptable and satisfactory. Activity definition ...

"dedicated" project manager correct answer role in life is to be a project manager regardless of the operational needs of the business. "dedicated" project manager correct answer role in life is to be a project manager regardless of the operational needs of the business. "working" project manager correct answer a functional manager "working" project manager correct answer a functional manager 0-100 Rule correct answer Every task is marked as 0% completed until...

A firm begins a strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers. Which stakeholder would have triggered this strategic business initiative? a. Director of operations b. Production supervisor c. Project sponsor d. Financial controller correct answer c. Project sponsor A firm begins its strategic business initiative of developing a new business model that will allow the fir...

___________________ is a key document that will be used for cost estimates, time estimates, risk identification, and resource assignment correct answer Work Breakdown Structure (WBS) ______________is an amount added to the overall project budget to cover unknown risks. correct answer management reserve Correct! A management reserve is an amount added to the overall project budget to cover unknown risks A ______________________________ is a characteristic, function, or capability that mu...