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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Your company. Kick That Ball Sports, has appointed you project manager for their new Cricket product line introduction. This is a national effort, and all the retail stores across the country need to have the new products on the shelves before the media advertising blitz begins. The product line involves three new products, some with multiple deliverables. The Scope Definition process is now complete. Which of the following is true? A. The WBS template, an output of the Scope Definition process, was used from the previous project to create the WBS for this project. The WBS encompasses the major deliverables for the project. B. The WBS template from the previous project, an output from the Scope Planning process, was used to create the WBS for this project. The WBS encompasses the major deliverables for the project. C. The WBS, an output of the Scope Planning process, has been created, and it encompasses the full scope of work for the project. D. The WBS, an output of the Scope Definition process, has been created, and it encompasses the full scope of work for the project.
During your project meeting, a problem was discussed and a resolution to the problem was reached. During the meeting, the participants started wondering why they thought the problem was such a big issue. Sometime after the meeting, you received and e-mail from one of the meeting members saying they've changed their mind about the solution reached in the meeting and need to resurface the problem. The solution reached during the initial project meeting is an example of which of the following conflict resolution techniques? A. Confrontation B. Forcing C. Smoothing D. Storming
You are a project manager for Star Light Strings. Star Light manufactures strings of lights for outdoor display. Their products range from simple tight strings to elaborate lights with animal designs, bug designs, memorabilia, and so on. Your newest project requires a change. One of the business unit managers submitted a change through the change control system, which utilizes a CCB. Which of the following is true regarding the CCB? A. Describes how change requests are managed B. Requires all change requests in writing C. Approves or denies change requests D. Requires updates to the appropriate management plan
Explain on the project management life cycle process?
You are a project manager for a growing dairy farm. They offer their organic dairy products regionally and are expanding their operations to the West Coast. They're in the process of purchasing and leasing dairy farms to get operations under way. The sub project manager in charge of network operations has reported some hardware problems to you. You’re also having some other coordinating and integrating other elements of the project. Which of the following is true? A. You are in the Project Plan Execution process. B. Your project team doesn't appear to have the right skills and knowledge needed to perform this project. C. You are in the Information Distribution process. D. Your project team could benefit from some team-building exercises.
You are a project manager working on contract with a company in a foreign country. At the project kick-off meeting, you are given an expensive-looking gift. The person who presented this to you said that it is customary in their country to give their business partners gifts. What is the most appropriate response? A. Thank them and decline. Explain that this is considered personal gain, which is unacceptable in your country. B. Thank them and accept. You don't believe there is a conflict of interest or an integrity issue at stake. C. Thank them and decline. Explain that this is considered a conflict of interest, which is unacceptable in your country. D. Thank them and accept since you know that it would be considered offensive to decline the gift in their culture. Immediately report the acceptance of the gift to the appropriate parties at your company so that your actions are not called into question later.
During a recent team meeting, you reached a resolution to a problem that's been troubling the team for several weeks. You took responsibility for searching out the facts of this problem and uncovered the right answer to this problem. You presented the facts at the project status meeting, and everyone reached agreement on the recommended solution based on the facts you presented. This is an example of what type of conflict resolution technique? A. Compromise B. Smoothing C. Confrontation D. Forcing
You know that change control systems are important as they describe how to submit change requests and document how to manage the change, track the status, and determine the management impacts of the change. Each of the following processes in the Controlling process group uses a change control system as one of its tools and techniques except: A. Integrated Change Control B. Quality Control C. Scope Change Control D. Schedule Control
You are a project manager for Dakota Software Consulting Services. You're working with a major retailer that offers their products through mail-order catalogs. They're interested in knowing customer characteristics, the amounts of first-time orders, and similar information. The stakeholders have accepted the project scope. Work has begun on the project, and you're confirming some of the initial work results with the stakeholders. You've asked for acceptance of the work results. Which process are you in? A. Quality Assurance B. Quality Control C. Scope Verification D. Performance Reporting
You have collected the performance measurement documentation for your project to be included in the project archives. What is the purpose of the performance measurement documentation? A. It's used as part of the formal acceptance process to verify contract expenditures. B. It's reviewed to make certain the project goals and objectives were met. C. It's included in the project archive documentation after confirming the accuracy of the measurements. D. It’s used as historical information for future project that are similar in scope to this project.
The project sponsor has approached you with a dilemma. The CEO announced at the annual stockholders meeting that the project you're managing will be completed by the end of this year. The problem is that this is six months prior to the scheduled completion date. It's too late to go back and correct her mistake, and stockholders are expecting implementation by the announced date. You must speed up the delivery date of this project. Your primary constraint before this occurred was the budget. What actions can you take to help speed up the project? A. Hire more resources to get the work completed faster. B. Ask for more money so that you can contract out one of the phases you had planned to do with in-house resources. C. Utilize negotiation and influencing skills to convince the project sponsor to speak with the CEO and make a correction to her announcement. D. Examine the project plan to see if there are any phases that can be fast tracked, and then revise the project plan to reflect the compression of the schedule.
You are the project manager for a scheduled version release of your company’s software tracking product. You have linked the WBS and project scope definition and assigned roles and responsibilities. You might want to display the roles and responsibilities in which of the following? A. RDM B. PDM C. AOA D. RAM