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ISOM 654 EXAM 2 WITH COMPLETE SOLUTIONS 100% VERIFIED
The process of coordinating the work and the timing of the different PM groups is called ___________. - ANSWER integration management
What is the RACI matrix? - ANSWER Responsible, Accountable, Consult & Inform matrix
This project plan element describes both the managerial and the technical approaches to the work. The technical discussion describes the relationship of the project to available technologies. - ANSWER Overview
The __________ is a specialized view of the action plan that focuses on who has what responsibility for each project task. - ANSWER linear responsibility chart
Once the project charter is completed and the project approved, a more detailed project plan can be developed. Which of the following issues is not addressed in the detailed project plan? - ANSWER Developing a list of skilled workers to hire
RACI stands for - ANSWER responsible, accountable, consult, inform
A __________ must be submitted for any changes requested after the project plan has been approved. - ANSWER change order
The process of managing risk in a project is: - ANSWER a dynamic process throughout the project life cycle.
A useful tool for facilitating the management of changes to a projectâ ™ s scope is the - ANSWER requirements traceability matrix
Through the process of creating a WBS, the work is broken down into the lowest level tasks that are referred to as: - ANSWER packages.
This element of the project plan lists all milestone events and/or phase-gates. - ANSWER Schedule
The project launch meeting occurs when? - ANSWER Prior to beginning the project to show management commitment
The __________is a list of the project activities with major activities broken down into subactivities. - ANSWER WBS
The set of physical elements required to build a project is called the __________. - ANSWER bill of materials
Which of the following is not another name for stage gates? - ANSWER Transition points
Agile IT project teams are typically __________ and located at __________. - ANSWER small, a single site
When using a WBS, all of the work should roll up to the next level such that no extra work is required. This is referred to as the ____________________. - ANSWER 100% rule
This project plan element lists all milestone events. It identifies the estimated time for each task and is used to construct the master project schedule. - ANSWER Schedule
In a WBS, each hierarchical level should have about how many interrelated tasks? - ANSWER 2 to 20
A(n) ____________ is a network device commonly used to display project schedules. It
ANSWER Gozinto
Planning a project should result in a number of outputs. Which of the following is not one of those outcomes? - ANSWER Every possible risk is identified and a contingency plan is developed
The second (1997) Mars Pathfinder and Sojourner Rover project achieved a 94 percent cost reduction over the earlier (1976) Mars-lander mission due to: - ANSWER design-to-cost method replacing the earlier design-to-performance method.
Which cost should the project manager completely ignore in managing a project? - ANSWER Overhead and G&A
Crystal Ball is a software program that: - ANSWER provides a distribution of potential outcomes with associated probabilities
In order to develop a budget, the project manager must forecast __________. - ANSWER the resources required, when resources will be needed, the cost of resources
A budget strategy that is based on collecting the judgments and experiences of top and middle managers is referred to as the __________ approach or method. - ANSWER top-down estimating
The act of __________ is the allocation of scarce resources to the various endeavors of an organization. - ANSWER budgeting
__________ costs vary with output. - ANSWER Direct
Which of the following is not a type of quantitative risk analysis? - ANSWER expert judgment
What is always certain in projects? - ANSWER Things will not go precisely as planned.
Given a project salary cost of $400,000 per year and forecasted wage increases of 5 percent per year, calculate the non-discounted total salary cost over a three-year project lifecycle. - ANSWER $1,261,
__________ budgeting allows income and expenditures to be aggregated across projects. - ANSWER Project-oriented
The pattern of constraints in a budget embodies organizational __________. - ANSWER Policy
If a project budget is over funded, it will often __________. - ANSWER produce waste and encourage slack management
The major responsibility of professional cost estimators is to: - ANSWER reduce the level of uncertainty in cost estimates.
If projects include repetitive tasks with significant human input, the __________ rate should be factored into the cost estimate. - ANSWER learning
Overhead costs are all of the following except which one? - ANSWER Generally within the project managerâ ™ s control
In well-understood, routine projects, such as highway construction, budgeting is: - ANSWER estimating by scaling the various cost elements based on historical data.
Which of the following is not one of the risk management subprocesses? - ANSWER work breakdown schedule
When a firm has professional cost estimators, what is their main responsibility? - ANSWER Reduce the level of uncertainty in cost estimates
___________ costs are not associated with any specific product or class of products and are typically charged as a fixed percentage of some direct cost. - ANSWER Overhead
A work element in the project plan requires 50 hours of labor each by four carpenters. The carpenters are paid $15 per hour and incur an overhead rate equal to 80 percent of their direct labor charges. The total cost would be __________ if the carpenters consume 10 percent of the workday performing personal activities. - ANSWER $5,
Identify the statement that is not correct regarding a project budget. - ANSWER The budget is not an expression of organizational policy.
___________ is involved in any forecast, though some forecasts have more than others. - ANSWER Uncertainty
Ambiguities in projects ____________________________. - ANSWER can be managed to reduce their impact
A project has three paths and a desired completion time of 43 days. The first path has a 70 percent probability of being completed in 43 days. The second has an 85 percent probability and the third haws a 90 percent probability. What is the probability that the project will be completed on time? - ANSWER 53.55 percent
The basic approach of all scheduling techniques is to form a network of activity and event relationships that graphically portrays the sequential relations between the _____ in a project. - ANSWER events
____________ on the Critical Path __________________. - ANSWER All activities; have zero slack
The following five clues can indicate when __________ scheduling is needed: late or vague progress reports, overdue deliverables, static progress indicators, longer work hours for team members, and a noticeable increase in minor âœissuesâ affecting the project. - ANSWER iterative
Any time two or more paths of a network come together, the probability of both paths being on time is the product of the probabilities for the individual paths. This scenario is referred to as __________. - ANSWER merge bias
When using the beta distribution, the denominator of the formula for standard deviation should ________. - ANSWER be approximately one-sixth of its range.
The _________ is the key input for establishing the monitoring and control systems for the project. - ANSWER schedule
Project completion probabilities computed using just the critical path are always what? - ANSWER Optimistic
The arrangement of all activities (and, in some cases, events) in a project arrayed in their logical sequence and represented by arcs and nodes is called a __________. - ANSWER network
In a network, if the delay of an activity will delay completion of the project, the activity is called a(n) __________. - ANSWER critical
What are some appropriate tools for managing projects? - ANSWER Crystal Ball, Microsoft Project, and Excel
__________ was developed by the U.S. Navy while the __________ was developed by __________. - ANSWER PERT, CPM, DuPont
In application, program evaluation and review technique (PERT) has primarily been used for which type of projects? - ANSWER Research and development
In AOA networks, an activity of zero duration is called a(n) ________. - ANSWER dummy activity
The most popular method for displaying a project schedule is the __________ due to ease of use and construction. - ANSWER Gantt chart
A clearly identifiable point in a project or set of activities that commonly denotes a reporting requirement or completion of a large or important set of activities is called a(n) __________. - ANSWER milestone
Critical path method (CPM) has primarily been used for which type of projects? - ANSWER Construction
A task or set of tasks that are required by the project are called____________. - ANSWER activities
In PERT networks, assuming a normal distribution about estimates of duration, the âœpessimisticâ time would be where there is a _________________________. - ANSWER 1 percent chance the actual work time is greater
The GANTT Chart shows which of the following? - ANSWER Activities on Bars
Of the choices below, which tool has the most significant influence on the management of projects? - ANSWER The Schedule
__________ law suggests that work expands to fill the allotted time. - ANSWER Parkinsonâ ™ s
The line connecting two nodes is referred to as a(n) - ANSWER arc
The methods to find an optimal solution to the constrained resource scheduling problem
fall into two categories. They are __________. - ANSWER mathematical programming and enumeration
A good rule-of-thumb is not to schedule a scarce resource for more than what percentage of capacity? - ANSWER 75-80 percent
When a project is crashed, it - ANSWER is completed in less time.
Studies have shown that the __________ scheduling heuristic method usually results in the minimum amount of project schedule slippage, best utilization of facilities, and minimum total system occupancy time. - ANSWER minimum slack first
__________ are tasks that logically follow a particular task in time. - ANSWER Successor
Goldratt illustrates that overly optimistic Project Managers are: - ANSWER very common and cause problems in scheduling.
The __________ heuristic provides a general solution for critical path and time and is usually the default rule for a schedule. - ANSWER as soon as possible
According to Goldratt: - ANSWER two activities scheduled to be carried out in parallel and using the same scarce resource are not independent.
Because the project _____ is the source of information on activity precedenceâ ™ s, durations, and resources requirements, it is the primary input for both the project schedule and its budget. - ANSWER WBS
At any given time, a firm may have a fixed level of various resources for its projects, including: - ANSWER labor hours, equipment, and parts.
Constrained resource scheduling
The use of __________ activity time estimates may reduce the chance that crashing the project will be needed. - ANSWER three probabilistic
Important parameters used to measure effectiveness of PM scheduling include: - ANSWER schedule slippage, resource utilization, & in-process inventory.
If a contradiction or conflict between constraints is detected, __________ should always take precedence. - ANSWER technological necessities
Resource leveling aims to minimize variations in resource usage by: - ANSWER shifting tasks within their slack allowances.
The principal reason why a project manager is surprised by resource constraints on a project is the failure to include __________ in risk identification activities. - ANSWER resource availability
A project task is said to be __________ if it requires a fixed amount of time and known quantities of resources. - ANSWER system constrained
Using the __________ heuristic method, the project team should be able to complete the maximum number of tasks during a given period of time. - ANSWER shortest task first
__________ describes the amounts of individual resources an existing schedule requires during specific time periods. - ANSWER Resource loading
Which of the following describes the amount of resources a schedule requires during specific time periods? - ANSWER Resource loading
Three important parameters used to assess the effectiveness of a scheduling system
include schedule slippage, in-process inventory, and __________. - ANSWER resource utilization
Work situations that disrupt a Project Managerâ ™ s Schedule typically occur ______________. - ANSWER unexpectedly
In CPM, __________ are specified. - ANSWER two activity times and two costs
The tasks that logically precede a particular task in time are referred to as __________. - ANSWER predecessors
The formula for computing the cost/time slope for each activity that can be crashed is __________. - ANSWER (crash cost - normal cost) / (crash time - normal time)
