You are the project manager for the Late Night Smooth Jazz Club chain, with stores in 12 states. Smooth Jazz is considering opening a new club in Kansas City or Spokane. You have derived the following information: Project Kansas City: The payback period is 27 months, and the IRR is 35 percent. Project Spokane: The payback period is 25 months, and the IRR is 32 percent. Which project should you recommend to the selection committee?
A. Project Spokane because the payback period is shortest
B. Project Kansas City because the IRR is highest
C. Project Spokane because the IRR is lowest
D. Project Kansas City because the payback period is longest ?
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You are a project manager working for Mail House King. Your company processes orders for several mail-order catalog companies. Your project is to install new mail-sorting equipment and software. You’ve had some problems and experienced some variances so far during the project. You do not expect these variances to continue, as they're atypical. Your project sponsor has asked for an EAC. You know the following information: PV = 800, BAC = 700, EV = 675, AC = 750, and ETC = 30. Which of the following is the correct EAC given the circumstances? A. 25 B. 760 C. 775 D. 833
You work for a large manufacturing plant. You're in the Initiation process of a new project for an overseas product release. This is the company's first experience in the overseas market, and they hope to make a big splash with the introduction of this product. The project entails producing your product in a concentrated formula and packaging it in smaller containers than the U.S. product uses. A new machine is needed in order to mix the first set of ingredients in the concentrated formula. Which of the following actions should the project manager take? A. The project manager should document the project's goals and known deliverables in a high-level overview document and recommend the project proceed. B. The project manager should document the project's goals and known deliverables in a high-level overview document and assume the project is a go. C. The project manager should document the project's goals and known deliverables in a high-level overview document and recommend a feasibility study be performed. D. The project manager should document the project's goals and known deliverables in a high-level overview document and deliver it to the stakeholders.
You are a project manager for Snow Fun, a chain of retail shops specializing in winter spurts gear and clothing. You've been working on contract with Snow Fun and are ready to move on to your next assignment. As the project manager, you know all of the following are true regarding the project Closing processes except: A. Administrative Closure is always required at the close of the project. B. The Closing processes are the most often skipped processes. C. Administrative Closure should occur prior to Contract Closeout. D. Both Closing processes verify that the work and product of the project were completed satisfactorily.
What are the framework activities and umbrella activities?
You are a project manager for Picture Shades, Inc. They manufacture window shades for hotel chains that have replicas of Renaissance-era paintings on the inside of the shades. Picture Shades is taking their product to the home market, and you're managing the new project. They will offer their products at retail stores as well as on their website. You're developing the project schedule for this undertaking and have determined the critical path. Which of the following is true? A. You calculated the most likely start date and most likely finish dates, float time, and weighted average estimates. B. You calculated the activity dependency, and the optimistic and pessimistic activity duration estimates. C. You calculated the early and late start dates, early and late finish dates, and float times for all activities. D. You calculated the optimistic, pessimistic, and most likely duration times and the float times for all activities.
You know that the next status meeting will require some discussion and a decision for a problem that has surfaced on the project. In order to make the most accurate decision, you know that the number of participants in the meeting should be limited to: A. 1 to 5 B. 5 to 11 C. 7 to 16 D. 10 to 18
What is raid in project management?
You are in the Planning process of your project, and your project sponsor has requested an accurate cost estimate in two weeks from today. You'll use which of the following techniques to provide her with the most accurate cost estimate? A. Bottom-up B. Analogous C. Top-down D. Earned value
You are the project manager for Rivera Gourmet Adventure Vacations. Rivera combines the wonderful tastes of great gourmet food with outdoor adventure activities. Your project involves installing a new human resources software system. Jason, the database analyst working on this project, is over allocated. Which of the following is true? A. You should use resource requirements updates to determine availability and smooth out resource over allocation. B. You should use crashing to resource level the critical path tasks. C. You should use resource leveling heuristics to smooth out resource assignments. D. You should use fast tracking to resource level the critical path tasks.
The project schedule is used to determine all of the following except: A. Cost estimates B. Activity start dates C. Float times D. Activity end dates
All of the following are true regarding the ADM method except: A. It's a tool and technique of Activity Sequencing. B. It uses one time estimate to determine durations. C. It's also called AOA. D. It's rarely used today.
Which of the following are the outputs of the Contract Closeout process? A. Project archives, formal acceptance and closure, contract file B. Contract file, formal acceptance and closure C. Project archives, contract file D. Contract file, formal acceptance and closure, lessons learned