NDSU Project Management Final
Exam Study Set
What are the four phases of the project life cycle, properly listed in sequential order? -
Answer Initiating, Planning, Performing, Closing
Define project - Answer A temporary endeavor undertaken to create a unique product,
service, or result
Projects are selected to be funded during which of phase of the project life cycle? -
Answer Initiating Phase
If something is _______________ the statement of work, then it should be assumed that
_______________. - Answer not included in, it will not be done or provided
The project plan is executed and controlled during which phase of the project life cycle?
- Answer Performing Phase
When making contingency estimates, the contractor should - Answer Estimate the
amount necessary to mitigate high impact and probable issues
The project scope is all the work that must be done to do all of the following except:
A. Producing all the project deliverables
B. Exceeding the expectations listed in the project charter
C. Accomplishing the project objective
D. Satisfying the sponsor or customer that all the work and deliverables meet the
requirements or acceptance criteria - Answer Exceeding the expectations listed in the
project charter
A ___________________________ emphasizes who is responsible for each work item and
shows each individual's role in supporting the overall project. - Answer Responsibility
Assignment Matrix
Although major or key deliverables may be stated in the project charter or the request
for proposal, they need to be _______________ in the project scope document. - Answer
expanded on in greater detail
Which of the following is not an example of a project?
A. Starting up a new business
B. Building vehicles on an assembly line
,C. Creating a website for your customer
D. Designing a new product for your company to manufacture & sell
E. Planning a family vacation to Jamaica - Answer B. Building vehicles on an assembly
line
T/F One way to determine which activities are on the critical path is to determine which
activities have the least slack - Answer True
When building a project schedule from a network diagram, the number listed as "the
estimated duration" for each activity must be --
A. the time you estimate that a resource will physically do work on this task
B. the time you estimate for the task to be completed plus the planning time for the
project.
C. the time you estimate for the work to be done plus any associated waiting time.
D. the time you estimate as the required time for the work times the number of
resources assigned to the project.
E. the time you estimate for the task plus the time to review and accept the deliverable. -
Answer C. the time you estimate for the work to be done plus any associated waiting
time.
The ES and EF are times determined by calculating....
A. forward... that is by working through the network diagram from the beginning of the
project to the end of the project.
B. backward... that is by working through the network diagram from the end of the
project back to the beginning of the project.
C. both directions... first you work the schedule forward, and then you work the
schedule backward. - Answer A. forward... that is by working through the network
diagram from the beginning of the project to the end of the project.
Free slack is the amount of time a specific activity can be - Answer Postponed without
delaying the earliest start time of its immediately succeeding activities
Resource leveling, or "smoothing", is a method for - Answer Developing a schedule that
attempts to minimize the fluctuations in requirements for resources
A project is presently in the financial situation as described by these four bullets.
• CBC = $12,000
• CAC = $15,000
, • CEV = $16,000
• TBC = $24,000
Calculate the CPI of this project at the present time. - Answer 1.067
A project is presently in the financial situation as described by these four bullets.
• CBC = $12,000
• CAC = $15,000
• CEV = $16,000
• TBC = $24,000
Calculate the Cost Variance of this project at the present time. - Answer $1,000
Why are activities drawn in a serial relationship in a network diagram? - Answer From a
technical standpoint, the activities must be performed in that sequence
A resource requirements plan illustrates - Answer The expected utilization of resources
by time period during the project
A project risk is... - Answer an uncertain event that, if it occurs, can jeopardize
accomplishing the project objective.
Some level of risk planning should be done during ____________________ of the project life
cycle to make sure that a contractor understands the risks involved with bidding on a
proposed project. With knowledge of potential risks, the contractor can include
contingency or management reserve amounts in the bid price. - Answer the initiating
phase
Project prices and budgets should include ______________________ to pay for additional
costs associated with implementing response plans. - Answer a contingency or
management reserve
Risks should be prioritized based on ________________________________. - Answer the
likelihood of occurrence and degree of impact
The purpose of identifying and documenting lessons learned is to capitalize on the
knowledge and experience gained on the project in order to - Answer improve
performance on future projects.
T/F There may be circumstances that require a project to be terminated early, before all
of the objectives are completed. In these cases, a project manager should typically skip
the closing phase of the project life cycle. - Answer False
When a customer requests a project scope change, the project manager
should_____________________ - Answer work with the project team to analyze the effect of
Exam Study Set
What are the four phases of the project life cycle, properly listed in sequential order? -
Answer Initiating, Planning, Performing, Closing
Define project - Answer A temporary endeavor undertaken to create a unique product,
service, or result
Projects are selected to be funded during which of phase of the project life cycle? -
Answer Initiating Phase
If something is _______________ the statement of work, then it should be assumed that
_______________. - Answer not included in, it will not be done or provided
The project plan is executed and controlled during which phase of the project life cycle?
- Answer Performing Phase
When making contingency estimates, the contractor should - Answer Estimate the
amount necessary to mitigate high impact and probable issues
The project scope is all the work that must be done to do all of the following except:
A. Producing all the project deliverables
B. Exceeding the expectations listed in the project charter
C. Accomplishing the project objective
D. Satisfying the sponsor or customer that all the work and deliverables meet the
requirements or acceptance criteria - Answer Exceeding the expectations listed in the
project charter
A ___________________________ emphasizes who is responsible for each work item and
shows each individual's role in supporting the overall project. - Answer Responsibility
Assignment Matrix
Although major or key deliverables may be stated in the project charter or the request
for proposal, they need to be _______________ in the project scope document. - Answer
expanded on in greater detail
Which of the following is not an example of a project?
A. Starting up a new business
B. Building vehicles on an assembly line
,C. Creating a website for your customer
D. Designing a new product for your company to manufacture & sell
E. Planning a family vacation to Jamaica - Answer B. Building vehicles on an assembly
line
T/F One way to determine which activities are on the critical path is to determine which
activities have the least slack - Answer True
When building a project schedule from a network diagram, the number listed as "the
estimated duration" for each activity must be --
A. the time you estimate that a resource will physically do work on this task
B. the time you estimate for the task to be completed plus the planning time for the
project.
C. the time you estimate for the work to be done plus any associated waiting time.
D. the time you estimate as the required time for the work times the number of
resources assigned to the project.
E. the time you estimate for the task plus the time to review and accept the deliverable. -
Answer C. the time you estimate for the work to be done plus any associated waiting
time.
The ES and EF are times determined by calculating....
A. forward... that is by working through the network diagram from the beginning of the
project to the end of the project.
B. backward... that is by working through the network diagram from the end of the
project back to the beginning of the project.
C. both directions... first you work the schedule forward, and then you work the
schedule backward. - Answer A. forward... that is by working through the network
diagram from the beginning of the project to the end of the project.
Free slack is the amount of time a specific activity can be - Answer Postponed without
delaying the earliest start time of its immediately succeeding activities
Resource leveling, or "smoothing", is a method for - Answer Developing a schedule that
attempts to minimize the fluctuations in requirements for resources
A project is presently in the financial situation as described by these four bullets.
• CBC = $12,000
• CAC = $15,000
, • CEV = $16,000
• TBC = $24,000
Calculate the CPI of this project at the present time. - Answer 1.067
A project is presently in the financial situation as described by these four bullets.
• CBC = $12,000
• CAC = $15,000
• CEV = $16,000
• TBC = $24,000
Calculate the Cost Variance of this project at the present time. - Answer $1,000
Why are activities drawn in a serial relationship in a network diagram? - Answer From a
technical standpoint, the activities must be performed in that sequence
A resource requirements plan illustrates - Answer The expected utilization of resources
by time period during the project
A project risk is... - Answer an uncertain event that, if it occurs, can jeopardize
accomplishing the project objective.
Some level of risk planning should be done during ____________________ of the project life
cycle to make sure that a contractor understands the risks involved with bidding on a
proposed project. With knowledge of potential risks, the contractor can include
contingency or management reserve amounts in the bid price. - Answer the initiating
phase
Project prices and budgets should include ______________________ to pay for additional
costs associated with implementing response plans. - Answer a contingency or
management reserve
Risks should be prioritized based on ________________________________. - Answer the
likelihood of occurrence and degree of impact
The purpose of identifying and documenting lessons learned is to capitalize on the
knowledge and experience gained on the project in order to - Answer improve
performance on future projects.
T/F There may be circumstances that require a project to be terminated early, before all
of the objectives are completed. In these cases, a project manager should typically skip
the closing phase of the project life cycle. - Answer False
When a customer requests a project scope change, the project manager
should_____________________ - Answer work with the project team to analyze the effect of
