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What is the difference between contingency and mitigation
plan?
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Answer / pk
Contingency plan: Plan the response after the risk occurs. It is post-risk
Mitigation plan: Plan to avoid or reduce the probability of risk. It is pre-risk
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What are the Quality Planning process outputs? A. Quality management plan, bench marking, checklists, evaluation criteria B. Quality management plan, bench marking, operational definitions C. Quality management plan, checklists, inputs to other processes D. Quality management plan, operational definitions, checklists, inputs to other processes
You are a project manager responsible for the construction of a new office complex. You are taking over for a project manager who recently left the company. The prior project manager completed the scope statement and scope management plan for this project. In your interviews with some key stakeholders, you conclude which of the following? A. They understand that the scope statement assesses the Stability of the project scope and outlines how to incorporate scope changes into the project. B. They understand that the scope management plan assesses the stability of the project scope and outlines how to incorporate scope changes into the project. C. They understand that the scope management plan is deliverables oriented and cost estimates can be easily derived it. D. They understand that the scope statement is deliverables oriented and cost estimates can be easily derived from it.
You are a contract project manager for a wholesale flower distribution company. Your project is to develop a website for the company that allows retailers to place their flower orders online. You will also provide a separate link for individual purchases that are ordered. This project involves coordinating the parent company, growers, and distributors. You are preparing a performance review and have the following measurements at hand: PV = 300; AC = 200; and EV = 250. What is the CPI of this project? A. 0.80 B. 1.25 C. 1.5 D. 0.83
You are the project manager for an outdoor concert event scheduled for 1 year from today. You're working on the procurement plan for the computer software program that will control the lighting and screen projections during the concert. You've decided to contract with a professional services company that specializes in writing custom software programs. You want to minimize the risk to the organization, so you'll option for which contract type? A. Fixed price plus incentive B. Cost plus fixed fee C. Fixed price D. Cost plus incentive
You are a project manager and are in the Closing process of the project. Your customer has been presented with a formal acceptance and sign-off document. They refuse to sign, claiming the product does not meet their expectations. You know that this situation could have been prevented by doing all of the following except : A. Documenting the requirements B. Documenting the customer's refusal to sign C. Performing quality inspections during the process D. Requesting sign-off at important milestones
These diagrams rank order factors for corrective action by frequency of occurrence. They are also a type of histogram: A. Control charts B. Process flowcharts C. Scatter diagrams D. Pareto diagrams
The theory that 85 percent of the cost of quality is a management problem is attributed to: A. Doming B. Kaizen C. Juran D. Crosby
Your selection committee meets on a semiannual basis. They've determined that projects must meet or exceed a specific profit limit in order to be accepted and prioritized on the project list. Which of the following is true? A. The selection committee has defined project selection criteria, which is a tool and technique of Initiation. B. The selection committee has defined project selection methods, which is a tool and technique of Initiation. C. The selection committee has defined project selection methods, which is an input to Initiation. D. The selection committee has defined project selection criteria, which is an input to Initiation.
You are developing your project schedule and have decided to use the PＥRT method to determine project duration. The estimates you've gathered so far include the following: Most likely is 200 hours, optimistic is 180 hours, and pessimistic is 220 hours. Which of the following is the correct PERT estimate? A. 190 B. 266 C. ２00 D. 210
All of the following describe the activity list except: A. It's an extension of the WBS. B. It includes all activities of the project. C. It describes the WBS updates. D. It includes a description of project activities.
Which of the following is true regarding IRR? A. IRR assumes reinvestment at the cost of capital. B. IRR is the discount rate when NPV is greater than zero. C. IRR is a constrained optimization method. D. IRR is the discount rate when NPV is equal to zero. ?
You are preparing a cash flow analysis for a project the company is considering undertaking. The project's cost is $525,000, and expected cash inflows are $125,000 the first year and then $75,000 per quarter the second year and $100,000 per quarter after that. What is the payback period? A. 16 months B. 27 months C. 32 months D. 28 months
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