A team of engineers is reviewing the architecture diagram for a new ERP system being deployed at a large accounting firm. The engineers are discussing the impact of the failure of each node in the diagram on overall availability of the final product. The intent of the discussion is to minimize the likelihood of failure and the effects of any failure. What is this called?
A. SWOT Analysis
B. Quantitative Analysis
C. Failure Mode and Effect Analysis
D. Deming Cycle
Your project team is having a dispute with a vendor about whether a specific task is within the scope of the project. The scope statement does not provide implementation level details that would resolve this discussion. There is not a WBS however, because the project sponsor insisted that the project be started right away, without pausing to create standard project planning documentation. Who is at fault?
A. The project manager
B. The project sponsor
C. The project stakeholders
D. The project vendor.
Which of these is not an information gathering technique used in the Identify Risks process?
A. Interviewing
B. Root cause analysis
C. Brainstorming
D. Delta technique
The three categories into which contracts can be broadly classified are:
A. Cost-Reimbursable, Time and Material, Cost plus fixed fee
B. Fixed Price, Cost-Reimbursable and Lump Sum
C. Fixed Price, Cost-Reimbursable, Time and material.
D. Fixed Price, Time and Material, Lump Sum
Decision tree analysis is used to calculate the average outcome when the future includes scenarios that may or may not happen. What is the input and output in a decision node?
A. Input: Cost of each decision Output: Probability of occurrence
B. Input: Cost of each decision Output: Decision made
C. Input: Scenario probability Output: Expected Monetary Value (EMV)
D. Input: Cost of each decision Output: Payoff
The list of identified risks is found in the risk register. However, the high-level risks are first listed in the:
A. Scope statement
B. Requirement document
C. Project charter
D. Risk management plan
Which of these statements is true?
A. The cost of correcting mistakes through an inspection is much lesser than the cost of preventing them.
B. The cost of preventing mistakes is generally much lesser than the cost of correcting them as revealed by inspection.
C. It does not matter where a defect is captured as long as the finished work product does not have a defect.
D. The cost of correcting mistakes through an inspection is more or less same as the cost of preventing them since the same effort goes into both activities.
Peter has been assigned to design a new car model for a well-known car manufacturer. The project has a small number of key stakeholders and Peter is planning to meet all of them in person in order to understand their requirements and expectations. Which of the following is not a project key stakeholder?
A. Project sponsor
B. Project manager
C. Customer
D. Competitor
You are decomposing your WBS into smaller pieces of work. What is one item that does NOT describe how far the work should be decomposed?
A. Until it can be realistically estimated
B. Can’t be subdivided any further
C. Until a meaningful conclusion
D. Cannot be decomposed more than 10 levels
Peter’s project is in execution. Peter has a monthly stakeholder update meeting set up where he presents the project’s progress and current issues to the key stakeholders. During the last stakeholder update meeting, the stakeholders requested Peter to provide bi-weekly project updates instead of monthly updates. The communication management plan has been broadly framed and it doesn’t restrict Peter from doing bi-weekly updates. What should Peter do?
A. Start providing bi-weekly updates instead of monthly updates.
B. Update the communication management plan prior to providing the bi-weekly updates.
C. Disregard the stakeholders’ request and continue with the monthly updates.
D. Request the stakeholders to submit a change request.