Question 1

According to our authors, “Selecting the right project is business risk. Managing uncertainty to meet stakeholder’s objectives is _______ risk.”

Select one:

a. Project

b. Program

c. Internal

d. External

Question 2

Also known as a “ROM” in schedule estimating, it has a wide variance but is based on extrapolations from other projects.

Select one:

a. Ballpark estimates

b. Detailed estimates

c. Rough order of magnitude

d. Realized order of magnitute

Question 3

Also known as top-down estimating, this technique begins with a total project estimate, then assigns a percentage of that total to each of the phases and tasks on the project.

Select one:

a. Visulization

b. Phased estimating

c. Apportioning

d. Parametric estimates

Question 4

In schedule estimating, this estimate can be off as much as 90%, but may be useful for initial sizing.

Select one:

a. Subject matter expert

b. Ballpark

c. Detailed estimate

d. Order of magnitude

Question 5

In the Project Business Case, risks are first listed as ___________, but as it becomes clear that they represent specific threats, they become the first documented risks.

Select one:

a. Best-guess estimates

b. Assumtions

c. Conditions

d. Environmental factors

Question 6

In the project context, the term “scope” can refer to product and ______ scope.

Select one:

a. Schedule

b. Project

c. Risk

d. Program

Question 7

Key Risk Response strategies include all of the following EXCEPT:

Select one:

a. Avoid the risk

b. Accept the risk

c. Mitigate the risk

d. Analyze the risk

Question 8

Key steps of the risk management process include all of the following EXCEPT:

Select one:

a. Develop response plans

b. Interpret risks

c. Identify risks

d. Analyze & prioritize

Question 9

Key steps of the risk management process include all of the following EXCEPT:

Select one:

a. Analyze & prioritize

b. Identify risks

c. Interpret risks

d. Develop response plans

Question 10

One way to gather information about risks is from project stakeholders. Two methods are brainstorming sessions and __________.

Select one:

a. External reviews

b. Interviewing

c. Risk role-play

d. Stakeholder/Team analysis

Question 11

our authors state that “it’s appropriate at first to adopt the attitude that anything that can go wrong will go wrong.” This is called _______’s Risk Management Law.

Select one:

a. Project Management

b. Realistic

c. Murphy’s

d. Program

Question 12

The first stage of the Change Control process is:

Select one:

a. Identification of deliverables

b. Stakeholder evaluation / modification

c. Recording of change requests

d. Create intermediate deliverables

Question 13

The primary steps of Configuration Management are provided below EXCEPT:

Select one:

a. Assign configuration management responsibility

b. Establish the control structure

c. Report changes

d. Identify items/products

Question 14

There are two primary steps to the Change Control process: steps leading to the initial approval of a product, and the process for:

Select one:

a. Controlling changes of the product

b. Reducing changes on the product

c. Allowing changes only during a specific timeframe

d. Refusing changes on the product

Question 15

These are all primary steps in the “Analyze and Prioritize Risk” step, EXCEPT:

Select one:

a. Define the risk

b. Mitigate the risk

c. Assign a risk probability

d. Rank the risk based on probability and impact

Question 16

These are all useful, recommended guidelines for developing the Risk Profile, EXCEPT:

Select one:

a. Predict the magnitude of each risk

b. Be industry- and organization-specific

c. Address both product and management risks

d. Address risk exceptions

Question 17

These are alternative courses of action prepared before a project risk occurs, and often includes setting aside extra money to draw on in the event of unforeseen cost overruns.

Select one:

a. Risk cost adjustment

b. Cost reserve

c. Contingency plans

d. Mitigation plans

Question 18

This budgeting method combines cost and schedule status to provide a complete picture and includes cost and schedule variance reporting.

Select one:

a. Earned value reporting

b. Cost reporting

c. Critical path budgeting

d. WBS budgeting

Question 19

This estimating technique requires the most effort, but is also the most accurate.

Select one:

a. Top-down

b. Bottoms-up

c. Parametric

d. Apportioning

Question 20

This estimating technique seeks a basic unit of work to act as a multiplier to size the entire project. It is always based on historical data.

Select one:

a. Bottoms-up estimating

b. Historical estimating

c. Parametric estimating

d. Top-down estimating

Question 21

This is a brief statement describing a situtation that is causing concern or uncertainty within the project.

Select one:

a. Consequence

b. Result

c. Plan

d. Condition

Question 22

This is a list of questions that address traditional areas of uncertainty on projects, and uses lessons learned from previous projects.

Select one:

a. Risk register

b. Risk management plan

c. Risk profile

d. Risk response plan

Question 23

This is an estimating technique that is a favorite among project managers because it requires cost and schedule commitments for only one phase of the project at a time.

Select one:

a. Bottom-up estimating

b. Apportioning

c. Phased estimating

d. Parametric estimating

Question 24

This is the process of creating a scope management plan that documents how the project and product scope will be defined, validated and controlled.

Select one:

a. Define scope

b. Control scope

c. Plan scope management

d. Validate scope

Question 25

This is the process of formalizing acceptance of the project deliverables.

Select one:

a. Deliverable acceptance report

b. Scope finalization

c. Scope control

d. Validate scope

Question 26

This is the process of monitoring the status of the project and product scope and managing changes to the scope baseline.

Select one:

a. Scope planning

b. Control scope

c. Scope mitigation

d. Scope creep

Question 27

This is the process of subdividing project deliverables and project work into smaller, more manageable components.

Select one:

a. Create WBS

b. Deliverable decomposition

c. Component planning

d. Deliverable finalization

Question 28

This prevents disasters by limiting the changes to control documents and other project deliverables. It is a subset of change control.

Select one:

a. Change Management

b. Configuration Management

c. Project Change Reporting

d. Change Control Reporting

Question 29

To balance the need for change control against the desire to be flexible, the project manager needs to separate changes into different categories called ________.

Select one:

a. Change thresholds

b. Stakeholder / Environmental changes

c. Change descriptions

d. Change plans

Question 30

You can __________ a project risk by choosing not to do part of the project or by choosing a lower-risk (more predictable) option for meeting project objectives.

Select one:

a. Transfer

b. Mitigate

c. Avoid

d. Accept