Bottom-up Cost estimating is typically motivated by the size and complexity of:
A. The project management software
B. The statistical relationship between historical data and other variables
C. The project budget.
D. The individual schedule activity or work package
A key project in an organization has been ignored due to high travel expenses associated with the movement of subject matter experts and other specialists across various project locations. Which of the following will permit such a project to be taken up in a cost-efficient manner?
A. Management sign-off
B. Negotiation
C. Virtual teams
D. Co-location
Acceptance is a strategy adopted because it is not possible to eliminate all risks from a project. This strategy indicates that the project management team has decided not to change the project management plan to deal with a risk. What action does passive acceptance require?
A. Passive acceptance is no longer adopted in projects and is a poor project management practice.
B. Passive acceptance requires no action except to document the strategy and come up with a risk management strategy.
C. Passive acceptance requires no action.
D. Passive acceptance requires no action except to document the strategy, leaving the project team to deal with the risks as they occur.
As an external vendor, you are managing a complex software project that has been contracted on Time & Material (T&M). One of your team-members reports a break-through in automating some of the testing activities. This will potentially result in cost savings to the project as well as the project getting completed ahead of schedule by a month. Which of the following actions would you take?
A. This is confidential information within your project team and need not be shared with the customer. The savings will be additional profits on the project.
B. Communicate the current status and inform the customer that you will be incorporating some additional features to use up the savings in cost and time since it has been budgeted for.
C. Communicate the current status to the customer and indicate the potential changes to cost and schedule.
D. Communicate the savings in cost and time to the customer. At the end of the project, notify your billing department that they need to prepare an invoice for 50% of the cost being saved.
Which of the following is NOT considered a method in the Manage Communications process?
A. Change control systems
B. Communication technology
C. Performance reporting
D. Information management systems
A seller organization was executing work for a project under a contract. During the course of the project, a number of disputes arose over the scope and quality of work. Which of the following is the preferred method of resolving these claims?
A. Alternative dispute resolution (ADR)
B. Claims court
C. Appeals court
D. Negotiation
Your project is nearing completion, but a previously unidentified risk has been discovered and it could significantly affect one of the project deliverables. What do you do?
A. Transfer the risk.
B. Develop a risk mitigation plan.
C. Include the issue in the project risk log.
D. Notify the project stakeholders immediately.
A manager asked to see a list of milestones in the project. This would be available as an output from the:
A. Sequence Activities phase
B. Define Scope phase
C. Estimate Activity Durations
D. Define Activities phase
Several of your resources report to another manager. You need them to participate in a series of project meetings over the next two weeks. How should you handle this?
A. Send meeting invitations to the project resources.
B. Provide a copy of the project charter to the other manager, showing that the resources on his team have been assigned to you for your project.
C. Request in advance resource participation from the other manager and the resources and communicate information about the timing and duration of the project meetings.
D. Shortly before each meeting, inform the other manager that his staff is required for your project meeting.
During a weekly status meeting a team member suggests adding a component to the project. As the project manager, you indicate that all focus should be put on the current scope and don’t worry about any enhancements. Focusing on the current scope is an example of?
A. Gold plating
B. Scope verification
C. Scope management
D. Change control