1.

In dealing with the risks associated with the total portfolio of projects as well as maintaining a strategic advantage, an organization must seek to balance the resources devoted to the following type(s) of projects ________________

Select one:

a. pearl

b. oyster

c. pearl and oyster

d. bread-and-butter

e. bread-and-butter and oyster

f. bread-and-butter, and pearl

2.

In a project budget development process, the first item that needs to be forecasted by the project team is __________

Select one:

a. when resources will be needed

b. the overhead direct costs

c. the cost of resources

d. the resources required

3.

Projects that represent revolutionary commercial advances using proven technology (pearls projects) are generally high-risk development projects with high commercial payoffs.

Select one:

True

False

4.

All the following are true when observing a project during its life cycle, EXCEPT

Select one:

a. the ability to make changes to the project remains less costly during the initial phase of the project

b. customer or sponsor interests follow a U-shape reflecting initial enthusiasm during the initiation phase, lower interests during the development phases and renewed interests as the project near completion

c. all statements are observed during the project life cycle

d. the degree of innovation or creativity needed is high at the beginning of the project, continues to be an important feature, and becomes less important later as the project progresses.

e. the project uncertainty continues to be continually and constantly high as the project progresses and decreases when the project is well advanced into its execution phase

f. an increased commitment of resources as the project moves progresses