pm 571 final exam new
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Date Created: 11/07/15
PM 571 FINAL EXAM Highlighted Points Are The Correct Answers 1) The structure that manages projects within the existing organizational structure is __________ organization. Project Balanced matrix Functional Strong matrix Weak matrix 2) A series of coordinated, related, multiple projects that continue over extended time intended to achieve a goal is known as a: Crusade Program Campaign Venture Strategy 3) Adverse weather, design flaws, and equipment breakdown can create negative slack. This is an example of reducing project duration caused by: High overhead Unforeseen project delays Imposed project deadlines Time to market Incentive contracts 4) The project communication plan contains Project team vacation schedule Unapproved change requests A list of reports to be distributed An assessment of project risks Detailed task assignments 5) In which of the following theories does the project group transition from a lower level to a higher level of performance about halfway through the project? PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Five Stage Team Development Model Nominal Group Technique Synergistic Transition Development Model Dysfunctional Transition Model Punctuated Equilibrium Model of Group Development 6) In a resourceconstrained project, which of the following is most likely to be changed? Project quality The budget The completion date 7) American project managers have earned a reputation abroad for being very good at understanding technology but not good at understanding: People Cultures Local traditions Local business practices Laws 8) _________ organization is a hybrid form in which a horizontal project management structure is overlaid in the normal functional hierarchy. Functional Project Matrix Balanced 9) The lowest element in the hierarchical breakdown of the WBS is A work package A cost account An object PM 571 FINAL EXAM Highlighted Points Are The Correct Answers A lowest sub deliverable A deliverable 10) A project budget report is showing our project as spending $35,000 against a budgeted amount of $40,000. What does this report tell you about the project? We are doing a good job managing the project We are spending less than we should for the project We should check to see if all the bills have been paid We can't be sure how the project is going 11) The project communication plan is usually created by Team Member Department Manager Project Stakeholder Project Sponsor Project Manager 12) In which of the following stages is a major portion of the physical and mental project work performed? Delivering Planning Defining Executing Conceptualizing 13) If the Project Manager needs additional resources for the project, he/she should seek approval from Project Stakeholder Project Sponsor Project Team PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Functional Manager CEO 14) During the last two phases of a project's life cycle, the most significant source of conflict is: Costs Priorities Schedules Technical Procedures 15) The earned value of a project is the: Total project cost to date Project cost to date adjusted for project scope changes Percent of the original budget that has been earned by actual work Cost incurred minus the planned cost 16) Project leadership is about coping with: Monitoring results against plans Formulating plans and objectives Change Taking corrective action when necessary 17) The final step in the creation of a Work Breakdown Structure is to 18) Develop the responsibility matrix Develop the responsibility matrix Assign the cost account to a manager Code the WBS for tracking Assign the work package to a manager PM 571 FINAL EXAM Highlighted Points Are The Correct Answers 19) The first step in the project control process of the measurement and evaluation of project performance is to Determine the project objectives Review the project priority matrix Analyze the project budget Set a baseline plan Determine the project deliverables 20) Two of the biggest challenges involved in managing a virtual project team are: Time management and developing trust The language barriers and time management Developing trust and effective patterns of communication The language barriers and developing effective patterns of communication Time management and developing effective patterns of communication 21) The centralized management of projects to ensure that the allocation of resources to projects is directed toward projects that contribute the greatest value to organization goals is known as: Resource Allocation Optimization Project Priority Matrix Management Portfolio Project Management Project Management Optimization Project Office Management 22) Sam the project engineer has been scheduled to run the product system test at the same time he is to build a marketing prototype. This is an example of a ______ constraint. Physical PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Scheduling Technical Resource Time 23) Small refinements to the project that eventually build to be major changes are known as: Continuous improvements Specification adjustments Scope creep Specification refinements Project erosion 24) Which of the following is considered a project indirect cost Supervision Equipment Materials Labor 25) From among the following activities, which is the best example of a project? Producing automobiles Writing a term paper Completing a college degree Processing insurance claims 26) To construct a highquality, custom home within five months at costs not to exceed $150,000 is best classified as A deliverable A limit PM 571 FINAL EXAM Highlighted Points Are The Correct Answers An objective An exclusion A milestone 27) Audits are least likely to occur When major milestones are reached At identified spending level points During specific stages in the project life cycle When they are unplanned 28) Project Communication Plans address all the following core questions except: * How will the project team be rewarded?* * What information will be communicated? * How will information be communicated? * Who will receive the information? * When will the information be communicated? 29) Communications difficulties because of different languages, social standards, and religious views are examples of which of the following environmental factors? Cultural Geographic Security Infrastructure Legal/political 30) Which of the following is considered a project direct cost? Supervision Equipment Interest PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Consultants 31) If resources are not adequate to meet peak demands, the resulting reschedule is termed Project resource adjustment Resourceconstrained scheduling Bottleneck adjustment Mandatory leveling Timeconstrained scheduling 32) Which of the following requires more management rather than leadership? Taking corrective action Changes in project scope Breakdowns in coordination between people MTechnological stalemates 33) In which of the following stages is it determined what the project will entail, when it will be scheduled, whom it will benefit, and what the budget will be? Defining Executing Delivering Conceptualizing Planning 34) In reviewing the project plan, Susan sees that the first prototype is due by October 12. This would be best classified as a Critical goal Project objective Limit item Milestone PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Project target 35) The most common response for meeting unattainable deadlines is to: Implement the fasttracking system Fire the project manager Hire more people Shift to the critical chain Reduce or scale back the scope of the project 36) The process of forecasting or approximating the time and cost of completing project deliverables is called Planning Predicting Budgeting Guesstimating Estimating 37) A typical expectation in actual practice is that estimates should have a probability of being met ______ of the time. 95% 80% 98% 100% 90% 38) The last step in the Change Control Management process is Negotiate and resolve conflicts Formally disapprove changes PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Track all changes that are to be implemented Change the project schedule Lodge a complaint 39) The most common response for meeting unattainable deadlines is to: Reduce or scale back the scope of the project Implement the fasttracking system Fire the project manager Hire more people Shift to the critical chain 40) In which of the following stages are project objectives established, teams formed, and major responsibilities assigned? Defining Delivering Executing Conceptualizing Planning 41) Needs for a project could include telecommunications, transportation, power, and availability of technically skilled talent. This is an example of which of the following environmental factors? Cultural Economic Geographic Infrastructure Legal/political 42) The method most frequently used in measuring project progress is the 75/25 percent rule PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Percent complete rule 0/100 percent rule 50/50 percent rule 25/75 percent rule 43) A good benchmark to use as a time limit for conducting a project audit is One week Two weeks One month One day Two months 44) Corrective actions that should take place would typically appear in the _____ section of the audit report. Strategic objectives Lessons learned Analysis Classification of project Recommendations 45) The person responsible for tracking approved changes to the project is Project Manager Project Requestor Project Team Member Project Stakeholder Project Sponsor 46) The project is running behind schedule, the best thing for the project manager to do is Take corrective action PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Apply for a transfer Produce a Gantt Chart Hire more resources 47) The method used to collect information to use through all phases of the project life cycle is called Work breakdown structure Organization breakdown structure Priority matrix Responsibility matrix Work package 48) Which of the following is the easiest method for shortening project time? Subcontract work Reduce project scope Schedule overtime Reduce the quality Assigning additional staff and equipment 49) In which of the following is the balance of authority strongly in favor of the functional managers? Balanced matrix Weak Strong matrix Strong 50) Which of the following is commonly associated with highperforming project teams? A degree of competition among team members is encouraged Roles and specific responsibilities are welldefined PM 571 FINAL EXAM Highlighted Points Are The Correct Answers Mistakes are viewed as opportunities for learning Risk taking is controlled and not allowed to jeopardize the overall project 51) The first step of project scope definition is to Define the overall objective to meet the customer's needs Meet with team members Analyze the current budget plan Select team members Analyze the strategic plan 52) In reviewing the project plan, Susan sees that the first prototype is due by October 12. This would be best classified as a Limit item Critical goal Project objective Project target Milestone
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