is a measure of how easy it would be to notice that a risk event

Multiple choice quiz on project management

Question 14   ________ is a measure of how easy it would be to notice that a risk event was going to occur in time to take mitigating action, that is, how much warning you would have.

 Impact scaling

Probability analysis

Awareness level

Warning assessment

Detection difficulty

Question 24  Which of the following is NOT one of the steps in the risk management process?

Risk tracking

Risk response control

Risk assessment

Risk response development

Risk identification

Question 34  This response is used to increase the potential effect of an identified Opportunity. Enhance

Exploit

Accept

 Share

Question 44  The chances of a risk event occurring as a project proceeds through its life cycle tend to Drop sharply and then level out.

Slowly drop.

Slowly rise.

Remain about the same.

Rise sharply and then level out.

Question 54  Risks are evaluated in terms of Cost and schedule.

Likelihood and cost.

Impact and cost.

Time and impact.

Likelihood and impact.

Question 64  The risk management tool that is divided into three color-coded zones representing major, moderate, and minor risks is the risk Severity matrix.

Responsibility matrix.

Assessment form.

Scenario assessment.

Impact assessment.

Question 74  Which of the following is NOT one of the potential responses to a specific risk event?

Avoiding Ignoring

Transferring

Mitigating

Retaining

Question 84  When developing a new software package, logically, the software must be designed before the code is written, and the code must be written before it is tested. These activities are dependent on each other by ________ constraints.

 Resource

Technical

Schedule

Time

Physical

Question 94  All of the following are benefits of scheduling resources before project implementation EXCEPT

It allows time for considering reasonable options if resource constraints do exist.

 It allows managers to share resources with other project managers if it is requested without negatively impacting their project.

The project completion date can be established.

Work packages can be time-phased.

 It ensures low network sensitivity.

Question 104  Gene is trying to order the concrete needed to continue his project. However, the supplier will not be able to deliver it until next week. This is an example of what kind of resource constraint?

Working capital

People

Materials

Equipment

Information

Question 114  Most of the scheduling methods available today require the project manager to classify the project as either ________ constrained or ________ constrained.

Cost, time

Time, resource

Quality, resource

Quality, cost

Time, quality

Question 124  Technical constraints have been carefully considered when developing a project network. Which of the following is true at this point?

Resources have been assigned to each activity so they are adequate to complete the project on time.

Technical dependencies between activities are known.

The project completion date can be established.

The project is ready to be implemented.

All of these are true statements once technical constraints have been established.

Question 134  All resource leveling techniques involve

Using negative slack.

Adding resources.

Delaying noncritical activities.

Delaying the project.

Delaying critical activities.

Question 144  A project that has several near-critical or critical paths is said to be

Inherently risky

Elastic

Fully consumed

Sensitive

Question 154  In selecting the best activity to crash you would first select the activity with the

Most steep slope.

Largest crash time.

Longest duration.

 Earliest start time.

Least steep slope.

Question 164  When reducing project duration, the crash cost per unit has to be calculated and the maximum units each activity can be reduced must be known. After this, the critical path must be identified. What is the next step?

Calculate indirect cost per time unit

Find the activity with the lowest crash cost

Calculate the optimum cost-time point

Calculate the crash point

Find the activity with the steepest cost slope

Question 174  In a Project Cost-Duration Graph, total project costs are a sum of

Direct labor costs and the project manager’s salary.

Direct and indirect costs.

Labor, material and equipment costs.

Direct costs and the project manager’s salary.

Direct costs plus interest.

Question 184  Which of the following projects would be least benefited if additional resources were added?

 Harvesting a crop by hand

Developing new software

Moving to a new house

Splitting and stacking a cord of wood

Building a cabin

Question 194  An activity’s crash cost includes ________ costs. Direct Indirect Normal Overhead Total

Question 204  A well-defined project that encounters no significant surprises would require little Corrective action.

Monitoring.

Leadership.

Management.

Controlling.

Question 214  Which of the following is used at Hewlett-Packard for building relationships with key players that will determine a project’s success?

MBA

GIGO

MBO

PMI

MBWA

Question 224  A key to being able to effectively persuade superiors is

Constantly meeting deadlines.

Establishing project ownership.

Being visible to top management.

Proving loyalty.

Question 234  Once you have established who the key players are that will determine success, then you initiate contact and begin to build a relationship with those players.

Less effective managers Initiate contact to provide encouragement and to reinforce the objectives and vision of the project.

Spend the majority of their time outside their office.

Are able to stay in touch with what is really going on through face-to-face interactions.

Talk with key stakeholders in an attempt to keep abreast of developments and anticipate potential problems.

Announce an open door policy and encourage others to see them when a problem or issue comes up.

Question 244  Networks are mutually beneficial alliances that are generally governed by the law of A squeaky wheel.

Risk-reward.

Reciprocity.

Brooks’ law.

Supply-demand.

Question 254  In terms of commonly traded organizational currencies, providing friendship, giving emotional backing, and listening to others’ concerns and issues are examples of ________related currencies.

Relationship

Position

 Inspiration

Task

 Personal