There are a number of risks that have been identified in your project. The team has elected not to change the project plan to deal with the risk, but they have established a contingency reserve of money in the event some of these risks are triggered. This is an example of what type of risk mitigation technique?
A. Contingent Response Strategy B. Active acceptance C. Passive acceptance D. Avoidance
Jane has just started the Identify Stakeholders process for her project. She is currently looking for a template for the stakeholder register so that she doesn’t have to reinvent the wheel. Where can she find stakeholder register templates?
A. Organizational process assets B. Project charter C. Project management plan D. Enterprise environmental factors
A project involved development of a high speed hard disk drive. As part of its testing, the hard disk was subjected to continuous operation at a high speed and an elevated temperature. At the end of the test, the hard disk was destroyed beyond use. The cost of such testing is usually classified as:
A. Appraisal costs B. Internal failure costs C. Cost of nonconformance D. Prevention costs
You have recently taken over a troubled automobile project which has gone out of control. The project team missed many deadlines and stakeholders were not happy with the project progress. As an experienced project manager, your first priority is to bring the schedule into alignment with the project plan. You would like to use what-if scenario analysis to see how various factors affected the project schedule so that you can develop a plan to reduce the impact of adverse conditions on the project schedule in future. What would be your next course of action once you determine the factors that created schedule overrun?
A. Prepare a resource breakdown structure to identify resources used B. Update activity lists to incorporate new activities into the schedule C. Generate change requests for a corrective action D. Develop project schedule network diagrams to determine the total slack
C. Generate change requests for a corrective action
You are the project manager of a project and are about to conduct a risk identification exercise in a few days’ time. You would like to proactively remind the participants in the exercise of the various sources from which risk may arise in the project. What could you use to help you do this?
A. A Risk Breakdown Structure (RBS) B. A Risk Simulation Structure (RSS) C. A Risk Register D. An Impact Matrix
A buyer and seller are looking at getting into a long-term relationship spanning over 10 years. Both parties would like to be protected from the unstable financial conditions of the country that are beyond their control. What type of contract is appropriate for such a relationship?
A. Fixed Price Incentive Fee (FPIF) B. Firm Fixed Price (FPP) C. Time & Material (T&M) D. Fixed Price with Economic Price Adjustment Contract (FP-EPA)
D. Fixed Price with Economic Price Adjustment Contract (FP-EPA)
Emily is managing the construction of a new office facility for her company. The project is half way through the execution. The project sponsor has asked Emily to ensure that all they key project stakeholders are still committed to the project. How can Emily assess the stakeholders’ current engagement levels?
A. By analyzing the most recent issue register B. By reviewing the Stakeholders Engagement Assessment Matrix last updated during the planning phase of the project C. By requesting the key stakeholders to submit a signed declaration of commitment D. By communicating and interacting with the key stakeholders
D. By communicating and interacting with the key stakeholders