Insurance is an example of which response strategy?
Transfer
All of the following are true statements about the project life cycle (the five
... [Show More] process groups that start with initiation as defined by PMI.org), EXCEPT for which one?
The project life cycle defines how much each phase will cost
PMI's PMBOK has how many knowledge areas (from the matrix at the beginning of each chapter's slides)?
10
Which of the following can create the most misinterpretation of the project scope statement?
Imprecise language
Which ONE of the following is NOT a factor in the make/buy decision?
Work duration
Which chart is also known as "80-20"?
Pareto
Ron Collins is the project manager for a biotechnology company. He is outsourcing a part of the project to a foreign company. The foreign company will charge Ron $10 per hour for each employee that will be involved in the outsourced part of the project. Ron will also be charged an extra amount for any incidentals incurred in the daily work (e.g., office supplies needed). What type of contract is it?
T&M
You have requested that several of the stakeholders participate in the initiation of the project. Why is this important?
It improves the probability of shared ownership
Which of the following is NOT necessarily true concerning the critical path in a network?
It is the path that always contains the greatest number of activities
A project manager and the project team are actively monitoring the pressure gauge on a piece of equipment. Rob, the engineer, recommends a series of steps to be implemented should the pressure rise above 75%. The 75% mark represents what?
The threshold
The risk management team of a software project has decided that due to the lack of adequate talent in your company, development of a specific part of the system is under high risk, so they have decided to outsource it. This is an example of which of the following?
Risk transfer
Who is the author of your CAPM in Depth textbook?
Paul Sanghera
Which of the following is the correct order of running processes?
Develop project charter, collect requirements, and create WBS
What does a matrix project structure mean?
Team members report to at least two bosses
Which of the following would be the LEAST likely to result in a distressed project situation?
The contingency plan was implemented for a risk identified early in the project
When does a project become officially authorized?
When the project charter is approved
William Ouchi's approach that managers in Japanese companies have a better relationship with their subordinates fall under:
Theory Z
At which point is the risk of failure the lowest, but the consequences of failure the highest?
During the final stages
Which ONE of the following is a quantitative risk assessment tool?
Probability decision tree
Which of the following is NOT one of the 10 project management knowledge areas?
Project team management
This online class is like a project, EXCEPT:
The students pay to be in the class
Activities with zero time durations are called:
Milestone activities
Which one of the following is NOT needed to define the project scope?
Risk management plan
What is the ONLY tool and technique used during scope verification?
Inspection
All of the following can be addressed in the project charter, EXCEPT for which one?
Risk responses
The need for ___ is one of the major driving forces for communication in a project.
Integration
In which life cycle phase do project sponsor become most actively involved?
Initiation
This exam is fun!
YES
For which contract type is cost overrun from the agreed upon set budgeted cost paid by buyer ONLY?
Cost plus fixed fee
Your supervisor has asked you to put some contingency reserve into your project plans. Which of the following is NOT true about contingency reserve?
Contingency reserve is only for budget, not the project duration (time)
You are managing a software project with limited development resources. The QA department has discovered a large number of defects in the project, and the project sponsor is very concerned about this. You want to get the maximum number of defects repaired with minimal effort. Which quality-control tool are you going to use before you direct the efforts of the project team to fix specific problems?
Pareto diagram
Which ONE of these is NOT a reason to buy rather than make in house?
Learn new skills
PMI offers a certification and your textbook is named after it. What is it called?
CAPM
You are using an ishikawa diagram to find the real causes of a problem by exploring all the possible causes. Which quality process are you performing?
Perform quality control and perform quality assurance
Of the following, which is the logical order of the project management processes?
Initiating, planning, executing, monitoring and controlling, closing
Projects are temporary endeavors to create a unique product, service, or result. Which one of the following does NOT relate to the concept of "temporary" in project management?
The project deliverable
Just for fun, this final exam has how many questions on it?
50
Which of these is for when we have a problem, and we want vendors to give us a proposed solution to it?
RFP
Which ONE of the following was NOT a possible printer named in the Harvard Simulation?
All-In-One
Your company is outsourcing a part of your project and therefore is preparing procurement documents. Which of the following is true about the procurement documents?
The documents should be flexible enough to allow sellers to be creative in offering solutions for meeting requirements
Which of the following is NOT one of the five process groups?
Feasibility studies
Which estimating technique uses a similar task to predict the duration of a task on the current project should take to complete?
Analogous estimating
Make-buy decisions occur under which process group?
Planning
An influential stakeholder has submitted a request for completing the project earlier than planned. What are the two parameters of the scope triangle that are most likely to be affected by this time change?
Cost and scope
There is a risk that team members might leave before the project finishes. We offer them a bonus for staying through the end of the project. What is the risk response doing?
Mitigate
Your instructor is a PMP from PMI.org, what does that stand for?
Project Management Professional
Why should you monitor the activities on the critical path more closely?
Because each activity on the critical path has zero slack time and thereby poses a schedule risk
Management has determined that your project must be completed by June 16. This date is an input to your planning process group and is considered what?
Constraint
Which one of the following is NOT one of the three steps of controlling?
Authorizing [Show Less]