Which of the following is accurate regarding the Estimate Activity Resources process?
A. It produces project resource calendars as the output
B. It determines dependencies that may require a lead or lag to define the relationship
C. This process is coordinated independent of the Estimate Cost process
D. It involves determining what and how many resources will be used
The Make-or-Buy analysis is a technique that is used as part of the Plan Procurement Management process. It is used to determine whether a particular product or service can be produced by the project team or should it be purchased. The analysis to arrive at a decision should include:
A. Indirect costs only
B. Direct as well as Indirect costs
C. Direct costs only
D. Staffing costs only
A project manager has been asked to manage a research project. By its very nature, this type of project is not very clearly defined and involves a lot of uncertainty. What phase-to-phase relationship should the project manager use for this project?
A. Open-ended relationship
B. Overlapping relationship
C. Iterative relationship
D. Sequential relationship
A seller started out a project on the basis of a Time and Material contract. The initial contract amount based on the agreed-upon rates and effort was $ 100,000 over a 1 year period. However, when the project was completed, the total contract value turned out to be $ 350,000 over a 2 year period. What mechanism could the buyer have used to prevent this unlimited cost growth and schedule change?
A. Use of a not-to-exceed value and a time limit on the contract.
B. A service level agreement.
C. A penalty based on the increased cost and timeline.
D. Use of a fixed price contract.
You are in the initiation phase of your project and believe the project can be completed for $100,000. However, you are an experienced project manager and know that many things can happen between the initiation phase and the closure of the project. You have provided an estimate in the project charter of $75,000 – $175,000. This is an example of?
A. Narrow Estimate
B. Absolute Estimate
C. Rough Order of Magnitude Estimate
D. True Estimate
What is the best way to show, at a glance, all the work packages or project activities assigned to a specific organizational department?
A. Organizational Breakdown Structure
B. RACI chart
C. Work Breakdown Structure
D. Roles and Responsibilities Chart
A project manager used the services of a trained moderator during the Collect Requirements process. Which of the following is likely to have required the services of a trained moderator?
A. Interviews
B. Prototypes
C. Questionnaires
D. Focus groups
Organizations evaluate the need of buying products versus making the items themselves. Which of the following is not a factor that influences the make-or-buy decisions:
A. Core capabilities of the organization
B. Value delivered by vendors meeting the need
C. Total duration of the project
D. Risk associated with meeting the need in a cost-effective manner
Risks may be identified during the entire lifecycle of a project. Identify Risks is what type of process?
A. Qualitative
B. Effort driven
C. Discrete
D. Iterative
You are fairly new to project management, but have been successfully managing a small project and now management has given you another project to manage, which you are excited about. However, the new project is growing exponentially everyday, you have also learned a project manager you work with managed a similar project last year. What should you do?
A. Wait to see if the scope of the project continues to grow
B. Get the project assigned to the PM who managed the similar project
C. Obtain Historical Records and get guidance from the project manager
D. Speak to the other project manager to develop your project plans