Project Management Sophia 2,100% CORRECT

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Which of the following is not a method of creating a project budget? • Roll-up budgeting • Top-down budgeting • Comparison budgeting • Actual budgeting 2 All team members nee ... d to be included in determining time and effort estimates for which of the following reasons? • The team members need to know these estimates to delegate tasks. • Time and effort required is primarily dependent upon the project manager's expectations. • The team members need to know these estimates to hire contractors. • Time and effort required is primarily dependent upon team members' expertise. 3 In which of the following ways is estimating effort different from estimating time? • Effort estimates focus more on the labor required to complete project work. • Effort estimates include values for the length of time for project work. • Effort estimates focus more on general activities than on specific tasks. • Effort estimates consider the equipment needed by people to perform tasks. 4 What is the appropriate response to a risk that is coded yellow? • Monitor closely to reevaluate the probability of occurrence. • Take action to prevent the risk from impeding the project. • Do nothing so as to not exacerbate the risk. • Accept the fact the risk may occur. 5 Which of the following is NOT covered during the Planning Approval meeting? • List of all documented risks • Review of project budget • List of individual tasks • List of needed resources 6 Which of the following elements is NOT included as part of the five-step process of developing a work breakdown structure? • Developing the budget • Identifying tasks • Identifying deliverables • Sequencing the activities 7 Which of the following provides a sequenced plan that estimates the time required to complete project activities and tasks? • Resource plan • Project schedule • Project plan • Communication plan 8 Which of the following is the longest string of dependent project activities required to complete a project in the shortest amount of time? • Critical path • Resource estimate • Effort estimate • Project schedule 9 Which of the following is key to successfully communicating the status of project work? • Documenting responsibility • Maintaining confidentiality • Enforcing accountability • Informing all stakeholders 10 Allen needs to know about actions related to a project he is associated with, however, he is not asked to provide advice and he has no decision-making authority. Which of the following RACI elements is assigned to Allen? • Responsible • Accountable • Consulted • Informed 11 When developing the project budget, it is useful to refer to the project schedule. What information does the project schedule provide? • A list of identified requirements for deliverables • Effort estimates for completing deliverables • A helpful reminder of planned project outcomes • Documentation of costs related to similar deliverables 12 Which of the following risks may not prove to be true? • Resource • Assumption • Deliverable • Schedule 13 Which statement describes a Fixed Bid contract? • The dollar amount is based on the number of days needed to complete a segment of project work. • The dollar amount for completing a segment of project work varies. • The dollar amount is based on the items needed to complete a segment of project work. • This is a specific dollar amount for completing a segment of project work. 14 James manages a project to build a new pavilion at an elementary school. The concrete floor takes three hours to pour, and three days to set. Which of the following best describes the time between when the concrete is poured, and when the floor is done? • Dependent time • Lag time • Lead time • Overall time 15 Which of the following is the first step in creating a WBS? • Verify that the work has been properly sequenced • Refer to the scope to identify the deliverable • Identify all tasks needed to make the work manageable • Identify all activities needed for the project 16 Which of the statements below is NOT true about people resources? • People resources will include individuals preassigned to be part of the project team. • People resources include the project manager and the project management support staff. • People resources should include individuals with the expertise to accomplish each part of the project. • People resources should be employees of the organization. 17 Which of the following refers to the degree of damage that a particular risk has in the overall project? • Cost • Probability • Contingency • Impact 18 Which piece of information below is included in a resource agreement? • Dependencies • Effort estimates • Contingencies • Time estimates 19 Which of the following is true regarding project planning? • Once a component is defined, it is not revisited again. • The project plan can be completed without including a communication plan. • The work breakdown structure is completed last. • Multiple components can be worked on at the same time. 20 Which of the following describes the Actual budgeting method? • Allows for cost overages • Does not include overhead costs • Considers historical budgets • Estimates a value for each project activity 21 Which of the following elements of a project is the RACI most closely related to? • Project governance • Project budget • Project schedule • Resource procurement 22 Leon started a project to design and create a new video game for the animation studio where he develops graphics and animations for video games and movies. Which item below would be considered an overhead cost? • Computers used by staff during the project • Packaging for the video game • Animations created for the game • Research time to develop characters and stories [Show More]

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