Project Managememt

___________________ 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...

A company specializes in high quality home improvements and remodels. The project for a living room consists of six primary tasks. As soon as the demolition is completed, the floor installation and electrical work can begin. The cabinet installers and painters may begin their work after the floor is installed. Finally, the interior decorators can finish up the project after the paint has dried. Which Gantt chart correctly represents this living room remodeling project? correct answer 1.0 Demo...

0/100 Rule correct answer Assign 0% to projects that are not started or in progress, and 100% to completed projects. 50/50 Rule correct answer Assigning 50% complete as soon as an activity is started; assigns 100% upon completion. Every activity is either 0, 50, or 100 8/80 rule correct answer Limits on sizes of assignments: Do not assign anything that takes less than 8 hours to avoid micromanaging and ensure we give sufficient work out. Do not assign anything that takes more than 80 hou...

8 and 80 rule correct answer According to the ____________, a project manager should avoid controlling tasks that take less than eight hours and should not let more than two weeks go by without checking in. A diverse group of scorers correct answer The effectiveness of results achieved from a scoring model is improved by using: A project manager must manage people at all organizational levels as well as costs, expectations, procurement, and partners. correct answer Which of the following s...

0/100 Rule correct answer Assign 0% to projects that are not started or in progress, and 100% to completed projects. 50/50 Rule correct answer Assing 50% complete as soon as an activity is started; assigns 100% upon completion. Every activity is either 0, 50, or 100 8/80 rule correct answer Limits on sizes of assignments: Do not assign anything that takes less than 8 hours to avoid micromanaging and ensure we give sufficent work out. Do not assign anything that takes more than 80 hours...

Does a project always result in a new product or service? correct answer No. A project may be undertaken to improve an existing product or service. How are serial activities performed? correct answer In a single stream of tasks How are the five steps organized? correct answer Chronologically across the life of the project How are the results of EV analysis used? correct answer To understand the current state of the project and also to make predictions of what the budget performance will...

_____ project selection models measure the financial returns of the project and include: payback period, net present value, and internal rate of return as part of the measurement. a. non-numeric b. profitability based correct answer b. profitability based _____ project selection models use selection criteria that are not limited to traditional numeric performance measures such as ROI, profit, and revenue, etc. a. ease of use b. comparable correct answer a. ease of use _____ project se...

correct answer "Red Light" issues correct answer Things that will immediately impact the success of the project and what decisions or resources are required. "Yellow Light" issues correct answer Things that may be impending issues arising for the future of the project, plus recommendations for how to avoid these issues from becoming problems. 8/80 Rule correct answer It states that a project manager should avoid controlling tasks of less than eight hours or team members wil...

____________ activities that occur during the project closing phase include preparation of performance reports, return of assets to the sponsoring organizations, archival of records, and documentation of lessons learned. Administrative Procurement Project justification Customer delivery activities correct answer Administrative Correct. Administrative activities that occur during the project closing phase include preparation of performance reports, return of assets to the sponsor...

____________ activities that occur during the project closing phase include performance report preparation, return of assets to the sponsoring organizations, archival of records, and documentation of lessons learned. Procurement Project justification Customer delivery activities Administrative correct answer Administrative ____________ calculates the amount of time required to earn back the cost of doing the project. Payback period Time value of money Internal rate of return Corre...