Multiple Choices
1) The behavioral side of project management emphasizes:
A) Scheduling. B) Leadership. C) Planning. D) Project selection.
2) Risk and opportunity:
A) Both increase throughout the project life cycle.
B) Vary inversely throughout the project life cycle.
C) Both decrease throughout the project life cycle.
D) Do not vary throughout the project life cycle.
3) Dummy activities have duration equal to the:
A) Slack on the critical path.
B) Length of the predecessor.
C) Length of the successor.
D) Lag needed to preserve network logic.
4)
An activity performed by a subcontractor is scheduled for 20 weeks at an anticipated cost of $100,000. Due to slippage on the critical path you need to reduce this activity by three weeks. If the subcontractor informs you that the activity can be completed in 15 weeks for $200,000, what is the slope for the activity?
A) $20,000 per week
B) $33,333 per week
C) $5,000 per week
D) $13,333 per week.
5) A measurement process that determines the project goals and then the degree to which the actual performance lives up to these goals is:
A) A metric system.
B) goal-performance linkage.
C) five degrees of separation.
D) Gap analysis.
6) Earned value is:
A) The total budget for the project.
B) A cost estimate of the budgeted resources across the project's life cycle.
C) The real budgeted value of the work that has actually been performed to date.
D) The cumulative total costs incurred in accomplishing the various project work packages.
True or False
(Please Justify the false answers)
1) A work package may be composed of one or more sub deliverables.
2) Client interest in a project is highest during the termination and conceptual phases.
3) As risk decreases in the project life cycle, opportunity increase
4) Comparative estimates are more accurate than definitive estimates when applied to the same project.
5) The least common type of lag relationship occurs when a successor's finish is dependent upon a predecessor's start.
6) The one factor that earned value management considers that an S-curve does not include is performance.
7) Float is always measured in exactly the same way as slack
8) Negative float exists when a project's critical path has been completed more quickly than anticipated.
9) Risk cannot be transferred because ultimately your own project will suffer the consequences if the event occurs.
10) A work package may consist of more than one milestone.
Answer theses Questions
1) What is earned value management and how can it be used to monitor project status?
2) Explain the difference between normal and expedited costs, fixed and variable costs, and recurring or nonrecurring costs ?
3) What are the four alternatives a project organization can adopt in deciding how to address their risks?
4) What is the difference between a turnkey contract and a cost-plus contract? Include in your discussion the advantages and disadvantages of each ?