A rule of thumb for moderate-to high-techonology firms is that a six-month delay in bringing a product to market can result in a loss of about 35 Percent of the Market Share.
Efforts to shorten a project’s duration can occur before the project begins or while it is in progress.
Indirect costs generally represent overhead costs such as supervision administration,consultants, and interests.
The total cost for each possible duration of a project is the sum of labor, materials, and equipment
Direct Costs are so named because they can be assigned directly to a work package and activity.
To reduce the duration of a project by reducing activity duration the first criteria is that the activity to be reduced must be on the critical path.
Shortening an activity’s duration si termed crashing
Crashing a critical activity as soon as a problem is detected is the best strategy to take.
Sometimes an activity that is more expensive to crash should be crashed because it is less risky to crash than the cheaper one.
One of the advantages of using a Project Cost-Duration Graph is that it keeps the importance of indirect cost in forefront of decision making.
Intense global competition and rapid technological advances create pressure on developing projects rapidly. This is an example if reducing project duration caused by:
A contracter finished a bridge across a lake 18 months early and received more then $6 million for the early completion. This is an example of reducing project duration caused by.
The shortest possible time an activity can be completed realistically is called_time.
The less steep the cost slope of an activity, the
less it costs to shorten one time period.
Which of the following correctly calculates an activity’s cost slope?
(crash cost-normal cost)/(normal time-crash time)
The optimum duration for a project is at the point where
total project costs are the lowest
If a network has several critical or near-creatical paths it is deemed to be:
A common method for shortening the project time is to
A, B, and C are all correct
The most common method for shortening project time is to
add additional staff and equipment
According to Brook’s Law, adding more people to a late project is most likely to have which of the following impact?
make the project slip further
An uncertain even or condition that, if it occurs, has a positive or negative effect on a project objectives is termed.
The chances of a risk event occurring as a project proceeds through its life cycle tends to
The cost impact of a risk event occurring as a project proceeds through its life cycle tends to
The attempt to recognize and manage potential and unforeseen trouble spots that may occur when a project is implemented is known as
The initial step in the risk management process is to
identify the risks
Which of the following would not be considered a threat?
meeting the project schedule
All of the following are included in the risk identification process except
One of the keys to success in risk identification is
The easiest and most commonly used technique for analyzing risk is ___ analysis
The risk assessment form contains all of the following except
who will detect the occurrence of the risk event
This risk assessment tool is a variation of the risk severity matrix that includes the ease of detection for each of the identified risks
Which of the following is not one of the potential responses to a specific risk event?
A Risk Response Matrix contains all of the following except
all of these are included in the matrix
Due to the impact over a long period of time, risk events that occur in the early stages of a project will have a greater costs impact than those that occur in later stages.
During risk identification the smaller risks should be identified first because they will naturally lead to identifying the larger risks.
The first step in the risk management process is Risk Assessment.
Since the goal is to find problems before they happen, the project manager should encourage critical thinking when it comes to risk identification.
Developing a scenario analysis includes the probability of the event and the impact of the event.
Fixed price contracts are an example of transferring risk from an owner to a contractor
Scheduling outdoor work in the summer, investing in up front safety training, and choosing high quality materials are examples of retaining a risk.
Control is one of the most neglected areas of project management.
Earned value is defined as the budgeted costs of the work performed
The baseline is derived from merging information from the work packages with the project network.q
If the actual costs for the first six months of a project are 1.5 million and the planned budget cost for the first six months are $1.2, then the project is automatically in trouble.
Earned value is calculated by taking the percent complete times the original budget.
The key to managing scope creep is change management
A CPI index of 0.97 indicates that the project has spent less money than budgeted.
The major reasons for creating a baseline are to monitor and report progress and to estimate cash flow.
Adequate project controls have the advantage(s) of:
A, B, and C are all correct
A typical project progress report would contain all of the following sections except:
all of these are typical sections
The first step in the project control process of the measurement and evaluation of project performance is to
set a baseline plan
The second step in the project control process of the measurement and evaluation of project performance is to:
measure progress and performance
The third step in the project control process of the measurement and evaluation of project performance is to:
compare the plan against actual performance
The last step in the project control process of the measurement and evaluation of project performance is to:
take appropriate action
A typical tool used to communicate project status is a:
A tool used to monitor past project schedule performance, current performance, and to estimate future schedule rends is a simple line chart known as a:
project schedule control chart
The earned value of a project is the
percent of the original budget that has been earned by the actual work
The cost variance for a project is calculated by
Small refinements that eventually build to be major changes are known as:
Of the following costs, which is not included in the baseline?
all of these are usually included
The storming stage of team development is completed once members begin to think of themselves as part of a group
The norming stage of team development is complete when the group establishes a common set of expectation about how members should work together.
Co-location of team members, team names, and team rituals are common vehicles for establishing a team identity.
A project vision is an image a project team holds in common about how the project will look upon completion, how they will work together, and how customers will accept the project.
Everyone on the project team should have identically the same vision of the project.
Letters of commendation, public recognition for outstanding work, and desirable job assignments are types of individual rewards.
Group decision making should be used when strong commitment to the decision is needed and there is low probability of acceptance if only one person make the decision.
“Going native” is the ability that some project teams have to bypass the normal policies and procedures that everyone in the organization is supposed to follow.
Groupthink refers to the tendency of members in highly cohesive groups to lose their critical evaluative capabilities resulting in quick decision making with little consideration of alternatives.
Team members can be upset and dissatisfied with conflict, but as long as the disagreement furthers the objectives of the project, then the conflict is functional.
During which stage of development is the team fully functional and accepted.
Sam is the coach of a high school soccer team and has noticed that some close relationships have formed as well as feelings of camaraderie and shared responsibilities for the team’s success. Which stage of development is the team in?
Roger is new-product project manager for retail company. Recently the team has exhibited a high degree of conflict
Which of the following is an objective of the first project team meeting?
A, B, and C are all correct
Researchers have found that high performance teams will have which of the following norms?
A, B, and C are all correct
All of the following have been found to be good for running effective project meeting except:
all of these are good for effective meetings
Establishing a team identity is facilitated by
A, B, and C are all correct
Individual rewards for outstanding work would not include:
all of these can be used for individual rewards
The first step in facilitating group decision making is to:
identify the problem
Strategies to manage dysfunctional conflict do not include__ the conflict.
A 360-degree performance evaluation includes feedback from peers, project managers, subordinates, and even customers
A project closure where the project is completed early with some parts of project eliminated would be classified as project failure
The most common circumstance for project closure is simply a completed project such as building a new facility or creating a customized information system.
The review of the response to hurricane Katrina is an example of a project closure.
A goal of the retrospectives is to improve the way future projects are managed.
Performance appraisals, in general, should focus only on the past performance and not on any future development plans for improving performance.
The facilitator for the retrospective review should be independent and have authority to review results without recrimination
A project can be closed because the priorities have changed.
Wrapping up a project does not include acceptance by the customer
Individual performance reviews should include the individuals self evaluation of his/her contributions
Which of the following is not part of an effective project closure?
all of these are included in an effective project closure
Project auditing includes performance evaluations of
A, B, and C are all correct
The project closure process includes all of the following except
conduct an audit
More and more companies are discarding the traditional superior-subordinate performance feedback process and replacing it with
the 360-degree feedback
Project closures can fall into all of the following categories except
all of these are categories for project closure
Highlighting major improvements actions that should be taken would typically appear in the _____ section of the final report.
Project mission and objectives, procedures and systems used, and organization resources used typically appear in the___section of the final report.
Which of the following is not one of the recommended sections of the final report
When archiving retrospectives the following can be used as classifications
All of the above
The Final Report for a Project should include all of the following except:
Selection of the next project
The environmental factor labeled security involves the capacity of a country’s military and police forces to prevent and respond to attacks.
The example of one project in Africa being paid in goat skins is an example of the environmental factor of infrastructure.
Americans tend to underestimate the importance that relationship building plays in conducting business in other countries.
Mexicans tend to perceive Americans as being cold and that most Americans look down upon them.
In dealing with the French, a lot of what gets done is a result of going through administrative channels, which involves a lot of red tape and efforts to sidestep this can be regarded as disrespect for legal and governmental institutions.
Many outsiders consider the Chinese system of guanxi to be like nepotism where decisions are made based on family ties instead of an objective assessment of ability.
If the length of stay in another culture is to be in the range of 2 to 12 months, the experiential approach to training is advisable.
Saudis attach little importance to status and rank with the bypassing of legal channels and red tape a common occurrence.
Which of the following is not one of the potential results for the international project manager?
all fo these are potential results
The major issues dealing with international project management include all of the following except:
foreign currency exchange rates
Concern about the local restrictions on toxic waste is classified as which of the following environmental factor?
As a response to the events of September 11, 2001 the moving of personnel, materials, and equipment across international borders has created border congestion with increased costs and time. This is an example of which of the following environmental factors?
An information systems specialist reported that his performance on a project in Northern Sweden declined due to sleep deprivation during the summer months in which there was 20 hours of daylight each day. This is an example of which of the following environmental factors?
Inflation rates, import quotas and tariffs, and education level of workforce are examples of which of the following environmental factors?
Needs for a project could include telecommunications, transportation, power, and availability of technically skilled talent. This is an example of which of the following environmental factors?
Communications difficulties because of different languages, social standards, and religious views are examples of which of the following environmental factors?
Culture is a concept that encompasses all of the following except
The stages of culture shock include all of the following except
When you recover from your sense of psychological disorientation and begin to function and communicate, you are in which of the following stages of culture shock?
When you begin to lose confidence in your abilities to communicate and work effectively in the different culture, you are in which of the following stages of culture shock?
Irritability and hostility
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