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megaproject management
PMP Project Management Professional Study Guide 2nd Edition 2nd Edition Kim Heldman - Solutions
Which of the following is not a commonly used technique for schedule compression?a. Resource reductionb. Reducing scopec. Fast-tracking activitiesd. Use of overtime
Which of the following cannot be identified after performing a forward and backward pass?a. Free floatb. Slack timec. Critical path activitiesd. How much overtime is planned
The shortest time necessary to complete all of the activities in a network is called the:a. Activity duration lengthb. Critical pathc. Maximum slack pathd. Compression path
The change control board, of which you are a member, approves a significant scope change. The first document that the project manager should update would be the:a. Scope baselineb. Schedulec. WBSd. Budget
One of your contractors sends you an e-mail request to use high-quality raw materials in your project stating that this will be value-added and improve quality. What should the project manager do first?a. Change the scope baselineb. Ask the contractor to put forth a change requestc. Ask your
One of your contractors has sent you an e-mail requesting that they be allowed to conduct only eight tests rather than the ten tests required by the specification. What should the project manager do first?a. Change the scope baselineb. Ask contractor to put forth a change requestc. Look at the
One of the outputs of the PMBOK® Scope Definition Process is:a. A project charterb. A scope statementc. A detailed WBSd. None of the above
The work packages in the WBS are at WBS level(s):a. 2 onlyb. 3 onlyc. 4 onlyd. 3 and 4
The cost of the entire program (1.00.00) is:a. $25Kb. $66Kc. $91Kd. Cannot be determined
The cost of WBS element 1.1.1 is:a. $12Kb. $13Kc. $25Kd. Cannot be determined
The cost of WBS element 1.2.2.0 is:a. $20Kb. $30Kc. $50Kd. Cannot be determined
A project manager is unsure of what is required in a certain work package. To get a better understanding of what the work package involves, the project manager would first look at the:a. Schedule control documentsb. Code of accountsc. WBS dictionaryd. Risk management plan Answer Questions 3–6
Which document would the project manager identify first to the project team at the initial kickoff meeting to show that the project is officially sanctioned as a project?a. Project charterb. Project planc. Feasibility studyd. Cost-benefit analysis
The role of the project sponsor during the closure of the project or a life-cycle phase of the project is to:a. Validate that the profit margins are correctb. Sign off on the acceptance of the deliverablesc. Administer performance reviews of the project team membersd. Get the customer to agree to
The role of the project sponsor during project execution is to:a. Validate the project’s objectivesb. Validate the execution of the planc. Make all project decisionsd. Resolve problems/conflicts that cannot be resolved elsewhere in the organization
The project manager normally meets with the project sponsor during project initiation to get assistance in:a. Defining the project’s objectives in both business and technical termsb. Developing the project planc. Performing the project feasibility studyd. Performing the project cost-benefit
After the project is initiated, the customer wants some degree of confidence that the customer’s objectives are achievable. Which document would the project manager use first to convince the customer?a. The customer’s statement of workb. The project manager’s scope statementc. The project
Where would the project manager go first for resolving conflicts between the project and line managers?a. Assistant project manager for conflictsb. The project sponsorc. The executive steering committeed. The Human Resources Department
To whom would the project manager go first for assigning the resources to a project?a. The project managementb. The Human Resources Departmentc. The line managerd. The executive sponsor
Which of the following is generally not a benefit achieved from using project management?a. Flexibility in the project’s end dateb. Improved risk managementc. Improved estimatingd. Tracking of projects
Which of the following is usually not part of the criteria for project success?a. Customer satisfactionb. Customer acceptancec. Meeting at least 75 percent of specification requirementsd. Meeting the triple constraint requirements
Which of the following is not associated with the definition of a project?a. Repetitive activitiesb. Constraintsc. Consumption of resourcesd. A well-defined objective
The triple constraints commonly associated with managing a project are :a. Time, cost, and profitabilityb. Resources required, sponsorship involvement, and fundingc. Time, cost, and quality and/or scoped. Calendar dates, facilities available, and funding
Suppose you were asked to evaluate the option of leasing a car for five years rather than an outright purchase. What additional factors must be considered.
If a loan were taken out to pay for the car, can the monthly interest expenses simply be included in the life-cycle costing? Explain you answer.
What conclusions can be made?
On a sheet of graph paper, plot the cost/mile as a function of time.
What assumptions must be made?
Calculate the total cost of owning the automobile for each quarter of each year assuming that the car is sold at the end of the fifth year when the contract expires.
What is the difference between a job description and a competency model?_______________________________________________________________________________ _______________________________________________________________________________
Why does an organization experience high levels of risk and difficulty when attempting to achieve level three of the project management maturity model?_______________________________________________________________________________
Why is it important to identify and document best practices? Why is continuous improvement a major factor in achieving project management maturity?_______________________________________________________________________________
What is the major difference between the CPM (Critical Path Method) and Critical Chain Method?_______________________________________________________________________________ _______________________________________________________________________________
What does the acronym DMAIC refer to?_______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________
How does Agile Project Management differ from what is known as “traditional” project management?__________________________________________________________________________________ __________________________________________________________________________________
The five levels of the Project Management Maturity Model are:__________________________________________________________________________________ __________________________________________________________________________________
The project manager should not be held accountable for the quality of the end result of a deliverable if the work was performed in departments that were not under the project manager's influence or control. True _______ False ____________
Explain the difference between accuracy and precision.
Provide examples of the cost of quality component – Internal failure
What is meant by the 80/20 rule as it relates to the area of quality management?
Average
Middle value C. Median
Most frequent B. Mode
PM Quick Check: True or False?A. The use of a control chart is focused on prevention of defects.True _________ False ___________ B. There are two types of control charts—variable charts and attribute charts.True _________ False ___________ C. Attribute sampling is focused on a pass/fail or
PM Quick Check:Which of the following charts is most commonly associated with cause-and-effect analysis?a) Check sheetb) Pareto diagramc) Histogramd) Fishbone or Ishikawa diagram
The following table is an example of aa) Pareto diagramb) Ishikawa diagramc) Control chartd) Check sheet
Project managers have accountability for project success but can delegate to others the project manager’s responsibility for quality. True_____ False_____
If the Upper and Lower Control Limits are set at X ± 3σ, then 99.73% of the products are expected to fall within these limits. True_____ False _____
Cause and Effect Charts are commonly used to identify the source of both quality problems and risks. True_____ False _____
Pareto Charts are used to identify quality problems. True_____ False_____
Quality circles are executive-level Quality Control teams. True_____ False _____
Histograms are Quality Control tools. True_____ False_____
Six Sigma applies to manufacturing only. True_____ False _____
The alternative to Three Sigma is Six Sigma. True_____ False_____
Correction to quality problems should be documented. True_____ False_____
Quality is defined by the customer. True_____ False_____
Training to support total quality management begins with the executive levels of management. True_____ False_____
Quality is inspection. True_____ False_____
Each of the pioneers in the left column was also known for some other contribution to the quality effort. Match the pioneer with the contribution.A. Deming _____a. Cost of Quality B. Juran _____b. The 85%–15% Rule C. Crosby _____c. Quality Is Free
Each of the pioneers in the left column had an approach they followed to improve quality. Match the approach to the pioneer.A. Deming _____a. The Trilogy B. Juran _____b. The Four Absolutes C. Crosby _____c. Plan-Do-Check-Act Cycle
In the left column are the names of three of the pioneers in project quality management. In the right column are their definitions of quality. Match up the two columns.A. Deming _____a. Conformance to requirements B. Juran _____b. Fitness for use C. Crosby _____c. Continuous improvement
Buyer
Seller
Contract Types A. Who has the greatest risk in a Firm Fixed Price or Lump Sum contract? ___________ B. Who has the greatest risk in a Cost Plus type contract? __________ C. Who has the potential to benefit from a Cost Plus Incentive Fee contract? __________ D. In a Cost Plus Fixed Fee contract who
Contract Forms Select the appropriate number (contract type 1, 2, 3, or 4) for each situation.A. When a contractor is required to deliver a definitive end product the contract is known as a ________________________________________ contract.B. If a contract specifies a level of effort that must be
PM Quick Check:A. Before negotiations begin it is a good idea to determine what motivates the other party.True_______ False_________ B. A major factor in the negotiations process is the willingness and ability to compromise.True_______ False_________
Backcharging is when the buyer re-opens a closed-out contract and pays the seller to perform additional work. True _____ False _____
An order of precedence clause in a contract states which deliverables in the contract must be completed first. True _____ False _____
A letter contract or letter of intent allows the seller to begin work prior to the signing of the final contract and spend a specified amount of the final contract price. True _____ False _____
The point of total assumption is the point where the buyer pays all additional costs over the target price. True _____ False _____
Each contract type is a sharing of risk between the buyer and seller. True _____ False _____
Term contracts can be completed without any deliverables being produced.True _____ False _____
Contracts are enforceable in a court of law even if the contract was not for a legal purpose. True _____ False _____
Verbal contracts, based upon mutual agreement, are enforceable in a court of law.True _____ False _____
Part of contract negotiations is to prepare a complete price/cost analysis. True _____ False _____
Project procurement strategies (as opposed to corporate procurement strategies)most frequently allow for sole source procurement. True _____ False _____
Using the weighted average formula, what is the probability that the project will be completed between 14.33 weeks and 33.01 weeks?
Consider the following project information provided by a functional manager:Optimistic time for completion of the project is 12 weeks. Pessimistic time is 40 weeks. Most likely time is 25 weeks.
You are the project manager for the development of a new product. The following information has been provided to you by your analysts. There is an 80% chance of finishing on time and a 40% chance of finishing over budget. What is the probability that the project will finish on time and within
What is the sum of all probabilities that can occur in a given set of circumstances?
What is the probability of rolling a one with one die (half a pair of dice?)
Consider the following situation. Your team has assessed the probability of experiencing software errors in the development process as medium and assigned a numerical value of the probability as .8. The team has also determined that the impact of these errors will also be high and have assigned a
What are the tree response modes for managing negative risks and project threats?________________________________________________________________
PM Quick Check:A. Inflation is an example of a business risk.True_______ False_________ B. Bad weather is an example of insurable risk.True _______ False ________ C. Utility is a measurement of risk tolerance True ______ False ________ D. Probability x Impact = Expected value True _______ False
Going for the MAX!A company with strong assets and a very aggressive approach to risk taking is most likely going to be associated with the __________________.a) Maximin or Wald criterionb) Maximax or Hurwitz criterion
Decisions, Decisions!If you were asked to make a decision about how to respond to a project situation and you needed the opinions of several subject matter experts to review before you made a decision, which of the following techniques would be most effective if you wanted to keep the identities of
Triggers are early warning signs that a potential risk might be materializing.True _____ False _____
“Traffic light” or “Dashboard” identification of risks is a quantitative risk assessment method.True _____ False ____
The major difference between each type of contract is the sharing of risk between the buyer and the seller. True _____ False _____
Risk and knowledge are inversely related. True _____ False _____
Planning is based upon history whereas risk management focuses on the future.True _____ False _____
Expected value calculations are examples of quantitative risk assessment.True _____ False _____
The Delphi Technique is a risk mitigation strategy whereby a group of subject matter experts work closely together in a two-day meeting to identify and solve risk problems. True _____ False _____
A PI (probability-impact) Matrix can be used for either quantitative or qualitative assessment of risks. True _____ False _____
A risk management plan should provide some guidance on how to respond or contain the risk event, if possible. True _____ False _____
Risk management is designed to focus only on the potential negative situations and project threats that have been identified by the project team.True _____ False _____
The best way to classify risks is according to their probability of occurrence.True _____ False _____
All risk response mechanisms transfer all or part of the risk to a potential contractor.True_____ False _____
Risk management is designed to provide an early warning system that will be useful throughout the project life cycle. True _____ False _____
Risk management is expensive and should be done on only large projects or those of strategic importance. True _____ False _____
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