A decision tree is a Perform Quantitative Risk Analysis technique that is structured around using a Decision Tree Diagram. It describes a situation under consideration and the implications of each of the available choices and the possible scenarios. A Decision Tree Diagram shows how to make a decision between alternative capital strategies known as:
A. Alternative nodes
B. Questionpoints
C. Decision nodes
D. Checkpoints
A project manager colleague of yours is currently working under contract on a short term project. He has expressed some concerns about finding work after the project ends. The project he is working on is currently ahead of schedule and he expects they will finish a month sooner than initially expected. What advice would be appropriate to provide him?
A. Slow down work on the project to have it finish on schedule.
B. Continue the work within the project’s scope and possibly finish ahead of schedule.
C. Exaggerate his experience to the sponsor to try to get a project manager position for him on other upcoming projects.
D. Inform the client the project is behind schedule and it will have to be extended.
Alex is managing a hotel refurbishment project. He has identified his project’s key stakeholders. Alex now wants to expand this list of stakeholders and convert it to a comprehensive list of project stakeholders. What should Alex do?
A. Do not spend more time on identifying the non-key stakeholders
B. Seek expert judgment from the identified key stakeholders
C. Request the project sponsor to provide the details of the remaining stakeholders
D. Carry out a stakeholder analysis with the identified key stakeholders
Jane is an experienced project manager working on a pharmaceutical project. This project involves two big vendors to supply chemical products with specific composition for preparing drugs. While reviewing documents to see how the seller is performing, she noticed that some of the contractual terms were not met by the sellers. Since it is first time violation, she would like to initiate a corrective action to bring the performance of the seller consistent with the statement of work. Which of the following are NOT outputs of Jane’s effort?
A. Work performance data and approved change requests
B. Work performance information and change requests
C. Change requests and Organizational process assets update
D. Change requests and Project management plan updates
Which of the following does not motivate an individual?
A. Achievement and growth
B. Job satisfaction
C. Micro-management
D. Challenging work
John is a project manager in an organization and conducts a workshop on project management. Which of the following statements made by him about projects is incorrect?
A. Projects exist within an organization and operate as a closed system.
B. Project processes usually generate information that helps improve the management of future projects.
C. Successful project management includes meeting sponsor, customer, and other stakeholder requirements.
D. Project management is an integrative undertaking.
You are the Project Manager for GeoThermal Systems. Which of the following must be done FIRST before proceeding with a new project?
A. Create the Project Scope Statement
B. Stakeholder analysis
C. Product analysis
D. Obtain Project Charter approval
A risk with a positive outcome is called an _____________ .
A. Unlikely risk
B. Objective risk
C. Opportunity
D. Obsolete risk
A senior project manager advises a first-time project manager that identifying risks is just one step. On a continuous basis, new risks need to be identified, and existing risks need to be analyzed, tracked and their status reported. All this is done as part of what process?
A. Direct and Manage Project Work
B. Monitor and Control Project Work
C. Perform Integrated Change Control
D. Plan Risk Management
What type of method can be used to eliminate personal bias during the process of selecting a seller?
A. Independent estimates
B. Source Selection Criteria
C. Vendor rankings
D. Screening