1 When planning for possible project procurements, a common tool and technique for this is a Bidder Conference c Make or Buy Analysis b Performance Reporting d Team Building 2 What is it called when a project team considers previous project expenditures as a motivator for continuing the project a Sunk Cost Fallacy b Trickle Down Economics c Groupthink d Broken Windows Fallacy 3 What is the formula is best for determining the number of products, and the price of those products, that need to be sold in order for a company to break even a ROI c Break Even Point b NPV d None of the above 4 What type of schedule compression technique is a good risk mitigation activity a Fast Tracking c Activity on Node b Crashing d None of the above 5 Rockwell Collins has expended $10,000,000 on a project that was to cost $6,000,000 As a result, product profitability expected to be marginal at best The company decides to complete the project to avoid wasting the money spent thus far This is an example of a Broken Windows c Hawthorn Effect b Sunk Cost d Halo Effect 6 Which type of project contract places the most risk on the seller a Cost Plus Fixed Fee c Fixed Price Incentive Fee b Cost Plus Percentage of Cost d Fixed Price 7 Which type of project contract places the most risk on the buyer a Cost Plus Fixed Fee c Fixed Price Incentive Fee b Cost Plus Percentage of Cost d Fixed Price 8 What psychological condition results in an individual or project team waiting until the last minute to complete a task when given too much time to complete a Propagation Delay c Student Syndrome b Parkinsons Law d Murphys Law 9 The type of project contract that spreads risk evenly between buyer and seller for large, high dollar projects is a Time and Materials c Fixed Price Incentive Fee b Cost Plus Incentive Fee d Fixed Price 10 To successfully track project costing, you need to reduce the amount of indirect costs and make sure most of the costs are costs a Fixed c Direct b Committed d Overhead

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Question: 1. When planning for possible project procurements, a common tool and technique for this is? a. Bidder Conference c. Make-or-Buy Analysis b. Performance Reporting d.

1. When planning for possible project procurements, a common tool and technique for this is?

a.	Bidder Conference	c.	Make-or-Buy Analysis
b.	Performance Reporting	d.	Team Building

2. What is it called when a project team considers previous project expenditures as a motivator for continuing the project?

a. Sunk Cost Fallacy

b. Trickle Down Economics

c. Groupthink

d. Broken Windows Fallacy

3. What is the formula is best for determining the number of products, and the price of those products, that need to be sold in order for a company to break even.

a.	ROI	c.	Break Even Point
b.	NPV	d.	None of the above

4. What type of schedule compression technique is a good risk mitigation activity?

a.	Fast Tracking	c.	Activity on Node
b.	Crashing	d.	None of the above

5. Rockwell Collins has expended $10,000,000 on a project that was to cost $6,000,000. As a result, product profitability expected to be marginal at best. The company decides to complete the project to avoid wasting the money spent thus far? This is an example of?

a.	Broken Windows	c.	Hawthorn Effect
b.	Sunk Cost	d.	Halo Effect

6. Which type of project contract places the most risk on the seller?

a.	Cost Plus Fixed Fee	c.	Fixed Price Incentive Fee
b.	Cost Plus Percentage of Cost	d.	Fixed Price

7. Which type of project contract places the most risk on the buyer?

a.	Cost Plus Fixed Fee	c.	Fixed Price Incentive Fee
b.	Cost Plus Percentage of Cost	d.	Fixed Price

8. What psychological condition results in an individual or project team waiting until the last minute to complete a task when given too much time to complete.

a.	Propagation Delay	c.	Student Syndrome
b.	Parkinsons Law	d.	Murphys Law

9. The type of project contract that spreads risk evenly between buyer and seller for large, high dollar projects is?

a.	Time and Materials	c.	Fixed Price Incentive Fee
b.	Cost Plus Incentive Fee	d.	Fixed Price

10. To successfully track project costing, you need to reduce the amount of indirect costs and make sure most of the costs are _______________ costs?

a.	Fixed	c.	Direct
b.	Committed	d.	Overhead

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