Project penalty clauses that initiate at mutually agreed-on

Project penalty clauses that initiate at mutually agreed-on

1 Question: The group that provides raw materials or resources that the project team needs to complete the project isA Top managementB Intervenor groupsC SuppliersD Functional managers
2 Question: The Liberal Arts faculty failed to see the reason that every professor on campus would not make exactly the same amount of money, arguing that every person is of equal value. The business faculty relied on the laws of supply and demand and market forces to guide their wages and couldn’t fathom why their counterparts could be such dunderheads. The source of conflict between these two groups isA DifferentiationB Scarce resourcesC UncertaintyD Reward systems
3 Question: A checklist screening model does not considerA The riskiness of the new ventureB Governmental or stakeholder interferenceC Whether one criterion is more important than anotherD Product durability and future market potential of the product line
4 Question: Scope management for a project begins withA A statement of goalsB A configuration statementC A work packageD An organization breakdown structure
5 Question: Client interest is typically at its lowest during theA Termination phaseB Planning phaseC Execution phaseD Conceptualization phase
6 Question: The probability that a project will overrun its allocated duration isA Integration riskB Schedule riskC Price market riskD Volume market risk
7 Question: The probability that project revenues will not be sufficient to repay the debts isA Financial riskB Promotion riskC Market riskD Cost estimate risk
8 Question: The statement of work should containA A brief and general description of the work to be performedB Expected project outcomesC Information on the key objectives for the projectD All of these are elements of a statement of work
9 : A priori consideration of information needs is performedA Several years after a project is completedB At the start of a projectC During the projectD Before a project begins
10 Question: Michael wants to carry out his mentor’s long-range strategic vision of expanding the company’s customer base by entering the casino business in Las Vegas. He issues a series of memos that explain the importance of these projects and makes sure that all necessary resources are at the disposal of the project management team, which is fortunate to have such a(n)A EntrepreneurB Creative originator at the helmC Project managerD Godfather
11 Question: A project screening criterion that allows the company to compare long-term vs. short-term projects, projects with different technologies, and projects with different commercial objectives isA CapabilityB RealisticC FlexibilityD Ease of use
12 Question: The authentic atmosphere that is vital for a project manager and team to function in can be described asA Exchange of purposeB A right to say noC Absolute honestyD Joint accountability
13 Question: Project management is first and foremostA A customer service challengeB A perception management challengeC A budget management challengeD A people management challenge
14 Question: Cletus thought they were draining the swamp, but Ace was convinced they were better off building a bridge across it. Their project team was doomed to failure owing to theirA Unclear goalsB Poorly defined team interdependenciesC Lack of motivationD Poorly defined team roles
15 Question: Which statement about stakeholders is best?A Stakeholders can potentially impact project developmentB Stakeholders are external to a companyC By definition, clients are not stakeholders, they are customersD Stakeholders wield considerable power
16 Question: Which statement regarding project selection is best?A Every decision model has both objective and subjective factorsB Before selecting any project, the team should identify all the relevant issues that play a role in project selectionC Organizational reality can be perfectly captured by most decision-making modelsD Decision models must contain either objective or subjective factors
17 Question: One practical step that should be taken in order for an organization to begin developing a core of project management professionals is toA Review instances where projects were poorly managedB Fire the unprofessional project managersC Formalize the organization’s commitment with training programsD Hire professional project managers
18 Question: The simple scoring model has this advantage over a checklist model for screening projects.A Scaling models allow decision makers to treat one criterion as more important than anotherB Scaling models ensure a reasonable link between the selected and weighted criteria and the business objectives that motivated their selectionC Scaling models have been proven to make correct decisions better than 95 percent of the time while checklists only achieve 80 percent accuracyD Scaling from 1 to 5 is extremely accurate
19 Question: A strategic element that contains formally titled initiatives such as the Customer Survey Project, the Small Business Alliance Project, and the Employee Relations Project is most likely aA MissionB ProgramC StrategyD Goal
20 Question: A matrix organization for project management has a distinct advantage becauseA Dual hierarchies mean two bossesB Workers must reconcile competing project and functional demandsC A significant amount of time is spent negotiating the sharing of critical resourcesD Project importance is enhanced by setting authority equal to that of functional departments
21 Question: In the case of projects developed for external clients, work authorization typically addressesA Audit trail establishmentB Budget linkageC Contractual obligationsD Resource requirements
22 Question: The construction foreman posted a large sign requiring all worksite visitors to don a hard hat and safety glasses. He also purchased copious quantities of both items and made them readily available at the entrance. The foreman is engaged inA Analysis of probability and consequencesB Risk mitigationC Risk identificationD Control and documentation
23 Question: A business reality that makes effective project management critical is the fact thatA Product launch windows are wideningB Product life cycles are compressingC Products are becoming increasingly simpleD Inflation is rampant
24 Question: The first step in the Analytical Hierarchy ProcessA Requires “Saatyfication” of the team membersB Requires supporting requirements to be combined into Level II challengesC Is analyzing the process you intend to improve before undertaking any improvement projectD Consists of constructing a hierarchy of criteria and subcriteria
25 Question: Projects are often underfunded in the concept stage becauseA There is complete trust in project managers by top management, so more resources can be asked for at any timeB The project requirements were deliberately understatedC The project’s goals are too clearly definedD The project’s top management sponsor is too influential
26 Question: Organizational structure identifies the grouping of individuals intoA OrganizationsB SilosC DepartmentsD Companies
27 Question: You have agreed to paint your neighbor’s house a lovely shade of chartreuse for $1,500 and discover, much to your dismay, that the house has a second floor. Now you’re faced with the prospect of buying a ladder or scaffolding or a really long handled brush, not to mention the 15 more gallons of paint that will be needed to cover. You won’t get another penny for what will surely be increased efforts since your neighbor transferred risk with a(n)A Cost-plus contractB Contingency reserveC Inflation clauseD Fixed price contract
28 Question: A splendid way to improve the efficiency and effectiveness of virtual teams is toA Mandate audio and video in all electronic communicationB Use email most of the time, since the printed word is rarely misinterpretedC Restrict team members to audio communicationD Have them meet face to face
29 Question: The degree of innovation and creativity is typically at its highest during theA Execution phaseB Termination phaseC Conceptualization phaseD Planning phase
30 Question: The degree of risk associated with the project is typically at its highest during theA Conceptualization phaseB Planning phaseC Execution phaseD Termination phase
31 Question: Even though he was an assistant director with the county, Keith loosened his tie and waded into the raw, untreated sewage with the rest of the project team. As they stood there together in the quagmire of mud and feces, the team members found Keith less intimidating and hisA Task orientation was at an all-time high. Surely the cross-functional cooperation of the team would soon peakB Proximity was at an all-time high. Surely the cross-functional cooperation of the team would soon peakC Equanimity was at an all-time high. Surely the cross-functional cooperation of the team would soon peakD Accessibility was at an all-time high. Surely the cross-functional cooperation of the team would soon peak
32 Question: Which of the following is accomplished through project management?A A software developer creates a new crash-proof operating systemB A retailer restocks the shelves after a day of brisk salesC An automotive manufacturer produces a day’s quota of vehiclesD A cellular phone company activates a new customer’s service
33 Question: Project penalty clauses that initiate at mutually agreed-on points in the project’s development and implementation areA Liquidated damagesB Penalty pointsC Contingency clausesD Milestone adjustments
34 Question: Which statement about conceptual development is best?A Project goals should be optimistic to the point of excessB A project goal of “significantly increase computer performance” is better than “improve processing speed 20 percent” because the team may exceed 20 percentC Conceptual development begins with the process of reducing the project’s overall complexity to a more basic levelD It is vital that a best approach to solving a problem be locked in as soon as possible to save analysis time downstream
35 Question: The project team’s office needed a revolving door to facilitate the influx and outflow of personnel. Team members needed name tags to keep track of who was who and what their duties were. The project was jeopardized byA Poor communication among team membersB Poor leadershipC Lack of team motivationD High turnover

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