MAN 4580 Final questions with verified answers
(T/F) A time-phased budget is created before the project schedule when the
budget is constrained, and time is accepted. Ans✓✓✓ false
10 Golden Rules of project risk management Ans✓✓✓ 1) make risk management
part of your project 2) identify risks early in your project 3) Communicate about
risks 4) consider both threats and opportunities 5) clarify ownership issues 6)
prioritize risks 7) analyze risks 8) plan and implement risk responses 9) register
project risks 10) track risks and associated tasks
2 examples of time-based resources Ans✓✓✓ office space and equipment rented
3x3 Risk Matrix Ans✓✓✓ Y (probability), X (Impact) rated L, M, H
A key principle of agile project management is that Ans✓✓✓ something of value
will be delivered at the end of each sprint
Abusive manner Ans✓✓✓ Conduct that results in physical harm or creates
intense feelings of fear, humiliation, manipulation, or exploitation in another
person
Action Ans✓✓✓ make a decision
Actual cost (AC) Ans✓✓✓ (Basic) How much the completed work costs.
,Adopting proven technology instead of experimental technology in order to
eliminate technical failure would be an example of which risk response?
Ans✓✓✓ avoiding
After the project scope has been defined and the project schedule has been
created, the next step in our planning is Ans✓✓✓ to determine the project
budget
Agile Ans✓✓✓ high-level planning for the entire project at the start with more
detailed planning in increments. Deliverables delivered in short periods. Added to
in future.
Agile Philosophy Ans✓✓✓ 1) importance placed on people and interaction 2)
produce a product, not documentation 3) customer collaborates throughout
project 4) changes are expected and welcome
Agile projects handle changes mostly by planning Ans✓✓✓ just one iteration at a
time in great detail and trying hard not to accept changes within the iteration
All activities are shown both on a daily/weekly/monthly and Ans✓✓✓ cumulative
basis
All of the following are ways to control risk EXCEPT: A) Assign team members to
monitor risks B) Develop a response plan prior to an incident occurring C) Have
one team member be responsible for monitoring big risks D) Periodically identify
if new risks surface Ans✓✓✓ C) Have one team member be responsible for
monitoring big risks
, All of the project costs should be assembled into a(n) Ans✓✓✓ Time-phased
budget
Alternatives Ans✓✓✓ consider your choices
ANALogous estimating Ans✓✓✓ estimating based on data from past, similar
work activities. It is not costly or time consuming. It looks at the amount past
projects cost while accounting for any differences with the new project. Unless
previous projects are extremely similar, this method be kinda booty compared to
the other estimation methods
Analysis Ans✓✓✓ identify your candidate decision and test its validity
Application Ans✓✓✓ apply ethical principles to your candidate decision
As a project progresses closer to completion, the chance of risk Ans✓✓✓
decrease, however, the cost to fix a risk event if it occurs increases
Assessment Ans✓✓✓ make sure you have all the facts about the ethical dilemma
Before you begin your project, you want to identify any potential risks that you
may run into. All of the following techniques would help you to identify risks
except: A) Parametric Techniques B) Checklist Analysis C) SWOT Analysis D) Expert
Judgement Ans✓✓✓ A) Parametric Techniques
Before you can finalize the budget, you need to Ans✓✓✓ finalize the other
planning
(T/F) A time-phased budget is created before the project schedule when the
budget is constrained, and time is accepted. Ans✓✓✓ false
10 Golden Rules of project risk management Ans✓✓✓ 1) make risk management
part of your project 2) identify risks early in your project 3) Communicate about
risks 4) consider both threats and opportunities 5) clarify ownership issues 6)
prioritize risks 7) analyze risks 8) plan and implement risk responses 9) register
project risks 10) track risks and associated tasks
2 examples of time-based resources Ans✓✓✓ office space and equipment rented
3x3 Risk Matrix Ans✓✓✓ Y (probability), X (Impact) rated L, M, H
A key principle of agile project management is that Ans✓✓✓ something of value
will be delivered at the end of each sprint
Abusive manner Ans✓✓✓ Conduct that results in physical harm or creates
intense feelings of fear, humiliation, manipulation, or exploitation in another
person
Action Ans✓✓✓ make a decision
Actual cost (AC) Ans✓✓✓ (Basic) How much the completed work costs.
,Adopting proven technology instead of experimental technology in order to
eliminate technical failure would be an example of which risk response?
Ans✓✓✓ avoiding
After the project scope has been defined and the project schedule has been
created, the next step in our planning is Ans✓✓✓ to determine the project
budget
Agile Ans✓✓✓ high-level planning for the entire project at the start with more
detailed planning in increments. Deliverables delivered in short periods. Added to
in future.
Agile Philosophy Ans✓✓✓ 1) importance placed on people and interaction 2)
produce a product, not documentation 3) customer collaborates throughout
project 4) changes are expected and welcome
Agile projects handle changes mostly by planning Ans✓✓✓ just one iteration at a
time in great detail and trying hard not to accept changes within the iteration
All activities are shown both on a daily/weekly/monthly and Ans✓✓✓ cumulative
basis
All of the following are ways to control risk EXCEPT: A) Assign team members to
monitor risks B) Develop a response plan prior to an incident occurring C) Have
one team member be responsible for monitoring big risks D) Periodically identify
if new risks surface Ans✓✓✓ C) Have one team member be responsible for
monitoring big risks
, All of the project costs should be assembled into a(n) Ans✓✓✓ Time-phased
budget
Alternatives Ans✓✓✓ consider your choices
ANALogous estimating Ans✓✓✓ estimating based on data from past, similar
work activities. It is not costly or time consuming. It looks at the amount past
projects cost while accounting for any differences with the new project. Unless
previous projects are extremely similar, this method be kinda booty compared to
the other estimation methods
Analysis Ans✓✓✓ identify your candidate decision and test its validity
Application Ans✓✓✓ apply ethical principles to your candidate decision
As a project progresses closer to completion, the chance of risk Ans✓✓✓
decrease, however, the cost to fix a risk event if it occurs increases
Assessment Ans✓✓✓ make sure you have all the facts about the ethical dilemma
Before you begin your project, you want to identify any potential risks that you
may run into. All of the following techniques would help you to identify risks
except: A) Parametric Techniques B) Checklist Analysis C) SWOT Analysis D) Expert
Judgement Ans✓✓✓ A) Parametric Techniques
Before you can finalize the budget, you need to Ans✓✓✓ finalize the other
planning
