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EMBA 660 FBSU Project Management T TF T T T 10) T Q#1) True or False statements: Circle (T) for True or (F) 1) The cost of installing surveillance cameras is a non-recurring expense 2) The salary of the project manager is a recurring expense 3) Risk and uncertainty increase with time Cost of making changes increase with time Ideas generated during brainstorming are ranked in order of their importance with voting process In focus group interviews, people from different segments and viewpoints are brought together to define requirements Duration is the number of workdays or work hours required to complete a lask Three point estimate is need it when the activity depends on many probabilistic factors A precedence network is standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format A critical path for a project is the series of activities that determines the earliest time by which the project can be completed The critical path is a series of activities with the least amount of float 12) Project duration is the sum of the duration of all project activities. 13) Activity on Arrow Diagram (ADM) can he used to represent all types of relationships 14) The Project Charter authorize the existence of the project and gives authority to the Contractor to use money and starts the project 15) Total Slack (float) is the amount of time an activily may be delayed without delaying a succeeding activity or the project finish date Project scope and product scope are the same. They define the features and functions of project deliverables WBS is the output of "Decomposition Process", which is breaking down the deliverables into more managcable parts ("Work Packages") 18) Fast tracking activities by doing them in parallel or overlapping them 19) Tuition fees of 40,000 SR per term is a fixed cost 20) Tuition fees of 5,000 per credit hour is a variable cost 21) Material cost is a variable cost 22) Gold Plating is giving the customer extras that add value to the project 23) Precision means that measured value is very close to the true value 11) T F T L T F TIF T T IF Homework Page 2 EMBA 660 FBSU Project Management Q#2) Answer the following questions A) The project Charter should define the followings: B) Objectives must be SMART. Each of these letters stands for: C) Risk can be classified as high, moderate and low based on: 2) D) Give an example of Constraints, Assumptions, Risks and Dependencies for joining the EMBA program at FBSU. Constraint: Assumption: Risk: Dependency: E) In collecting scope requirements from stakeholders, the requirements are likely to be rejected for the following reasons: Homework Page 3 EMBA 660 FBSU Project Management Homework Page 3 EMBA 660 Project Management F) WBS is useful for (why WBS?): Q#3) Multiple Choice: (Select the most accurate answer) At what phase (stage) the project Scope, Baselines and Feasibility are established: A) Conceptual Desien Phase B) Advanced Desien Phase C) Detailed Design Phase D) Production / Exccution Phase At what phase (stage) the project Budget and Scheduled are determined: A) Conceptual Design Phase B) Advanced Design Phase C) Detailed Design Phase | D) Production / Execution Phase At what phase (stage) the project Team is selected: A) Conceptual Design Phase C) Detailed Desien Phase B) D) Advanced Desien Phase Production / Execution Phase Resources requirements and effort are the highest during the: A) Conceptual Design Phase B) Advanced Desien Phase C) Detailed Design Phase D) Production ! Exccution Phase Activity G is a predecessor of B with Start-to-Start relationship and lead of 4 days, means that: A) G can start 4 days hcfore the start of B B) B can start 4 days before the start of G C) G can start 4 days after the start of B D) B can start 4 days after the start of Activity B is a predecessor of C with Start-to-Finish relationship and lag of 4 days, means that: A) C can start 4 days before the finish of B B) B can start 4 days before the finish of C c) C can finish 4 days after the start of B D) B can finish 4 days after the start of C An activity has an early start (ES) of day 3, a late start (LS) of day 13, an early finish (EF) of duy 9, and a late finish (LF) of day 19. The activity: A) is on the critical path. B Has a lag C) is progressing well. D) is not on the critical path. L enttien AOA activity diagrams are only represented using which representation? A) Start-lo-Start B) Start-to-Finish C) Finish-to-Start D) Finish-to-Finish You are working on the project of painting a house. You identify a dependency that the painting of rool should begin only after two days of completion of painting of walls. This is an example of: A) Tag B) 1.cad 0 Free Float D) Total Float Homework Page 4 Homework Page 4 EMBA 660 FBSU Project Management You are required to estimate the time to paint a large wall. You know it takes two hours to paint one square foot of wall. The wall has an area of 30 square foot. So you estimate that it will take 60 hours to paint the wall. Which estimation model are you using? A) Bottom-up B Parametric 0 Analogous D) Expert judgment Cost baseline is usually represented using which curve or line? A) Sor Progress Curve B) Run Curve C) Pareto Diaeram D) Straight Line Your project is running late. To bring the project on schedule, you decide to add additional resources to the critical path. This is an example of: A) Fast-tracking B) Resource planning c) Crashing D) All of the above You are the Project Manager of ABC project. The project is being executed in an earthquake prone area. To take care of this you buy insurance for earthquakes. This is an example of: A) Acceptance B) Sharing C) Mitigation D) Transfer You are managing the project of planning a party for your company employees. There is a risk that the employees will not come to the party. You decide to not take any action against this as the likely-hood of this is low. Which risk response strategy are you following? A) Acceptance B) Avoidance C) Mitigation D) Transfer Which of the following indicate that the project is doing well? Select the best option. A) Negative CV B) SPI of less than one C) Negative SV D) CPI of greater than one The total budget cost for the project is $1,500. You have reached the planned half way mark. The actual physical work that has been completed at this stage is 60%. You have already spent $1,000 on the project. What is the CPI? A) 1.11 B) 0.67 C) 0.9 D) 0.75 Your pharmaceutical drug manufacturing project is running late and you have deadlines to meet on your project. You want to replace some of the inefficient human resources with more talented ones to finish the project on time. What risk response strategy is being followed in this context? A) Share B) Accept I Mitigate Transfer The most accurate type of estimating is: A) Three-Point Estimating C) Parametric Estimating B) D) Bottom-Up Estimating Analogous Estimating Based on current average cost of residential building, you estimated the cost of your housing project at $1000 per square meter. The type of this estimating is: A) Three-Point Estimating B) Bottom-Up Estimating C) Parametric Estimating D) Analogous Estimating Homework Page 5 Homework Page 5 EMBA 660 FBSU Project Management The most likely estimate of site excavation duration is 5 days, the optimistic estimate is 3.5 days, and the pessimistic estimate is 8 days. The weighted average duration is: A) 0.562 days B) 5.25 days C) 5.5 days D) 5 days A project's current EV is $25,000 and SV is $5.000. What is the project's current SPI? A) 1 B) 1.25 D) 0.2 A project has the following measurements: EV=100, PV=180, CPT=1, SV-80. How much is the Actual Cast? A) 100 B) 80 C) 180 D) 0 Which of these is correct with respect to a product developed or a service performed: A) Bad quality is acceptable, hut bad grade is B) Bad grade is acceptable, but had quality is not C) Neither had grade nor quality is acccptahlc. D) Grade and quality is the same thing. BOL. B) Quality is detined as: A) The degree to which a set of inherent characteristics fulfills requirements C) The process of identifying which quality standards are relevant to the project The customer's need to be involved in the process Quality is inspected not built into a result D) B) Work Breakdown Structure is: A) A hicrarchically-organized depiction of the project organization C) hierarchical representation of project risks A hierarchical structure of resource categories A deliverables-oriented decomposition of the project work D) Based on your experience with three similar past projects, you estimate an 8-10 month Implementation time frame for a new project. What is this type of estimation technique called? A) Three-Point Estimating B) Bottom-up Estimating C) Parametric Estimating D) Analogous Estimating Your project performance review shows that your project's current planned value = 30.000 Euro and earned value = 29,000 Euro. Which of the following statements is true about your project? A) CPI - 0.96 B) The project is ahead of schedule C) The project has a positive cost variance D) The project is behind schedule ITEV = $100, AC = $90, PV - $110 and BAC = $400. how much is the Cost Variance of a project? A) $300 B) $40 C) $20 D) $10 Schedule performance index, SPI, of 0.75 means: A) Project is over budget C) Project is progressing at 75% of the rate originally planned B) D) Project is ahcad of schedulc. Project is progressing al 25% of the rale originally planned Homework Page 6 Homework Page 6 EMBA 660 FBSU Project Management Jim is using Net Present Value (NPV) project selection method. Which one of the four projects should his company select? A) Project A has a NPV of S300K B) Project B has a NPV of S400K C) Project C has a NPV of - SSOOK D) Project D has a NPV of - S600K Sarah is using Internal Rate of Return (IRR) project selection method. Which one of the four projects should his company select if the minimum acceptable Return on Investment is 10%? A) Project A has an IRR of 5% B) Project A has an IRR of 7% C) Project A has an IRR of 9% D) None of the above In case of conflict between stakeholders' requirements, conflict is resolved in favor of: A) Project Sponsors B) Project Financers C) Project Users D) All of the above Which of the following is not a project: A) Build a factory for manufacturing bottles C) Program a university website B) D) Establish a supermarket husiness Manufacturing computer keyboards. A diamond shape on the Gantt Chart usually represents: A) An activity B) C) relationship D) A milestrync Cut-off date An activity with float of 5 days is delayed by 8 days: A) The project will be delayed by S davs C) The project will be delayed by 8 days B) D) The project will be delayed by 3 days The project will not be delayed B ) Milestones are: A) Useful tools for setting schedule gnals and monitoring progress C) Significant events that has zero duration Often takes several activities to achieve a milestone All of the ahove D) The most accurate type of cost estimating is: A) Analogues Estimating C) Three-Point Estimating B) Parametric Estimating Bottom up Estimating A histogram ordered by frequency of occurrence which shows how many product defaults were generated by default causes, is: A) A Pareto diagram B) Run Chart C) Scaller diagram D) Network diagram Diagram that shows trends in declines or improvements in a process over time is: A) A Parelo diaeram B) Run Chart C) Scatter diagram D) Network diagram Continuous improvement of quality requires: A) Plan-Check-Act - Do C) Plan Act Do Check B) D) Plan-Do-Check - Act Plan Act Check Do Homework Page 7 Homework Page 7 EMBA 660 FBSU Project Management Q#4) Multiple Choice: (Which of the following is not true Objectives must be: A) Ranked according to their degree of B) Used to establish appropriate Importance performancc mcasures C) Approved by stakeholders D) Understood by all team members Progress and outcomes are measured through: A) Due dates C) Cost B) D) Milestones Elapsed time The baselines determine the performance of the project and if the project is on track are: A) Scope B) Time C) Cost D) Communication The Project Charter is: A) Created early in the project life cycle C) Communicated to all stakeholders B) D) Updated based on actual performance Signed off for approval by Sponsors B) The Project Scope defines: A) What is included and what is not included in the project? C) The product acceplance criteria. Who will be responsible for each deliverable? The deliverables D) The point where the incremental revenue from an improvement equals the cost to implement it in referred to as: A) Kaizen B) Marginal Analysis C) Feasibility Analysis D) Desirahility The process of continuous improvement to reduce costs and promote consistency in A) Kaizen B) Gold Platting C) ISO D) Quality Control Homework 8/8