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PM PRACTICE MILESTONE UNIT 2 Terms in this set (22)Select the description of a real project cost. Support items used by the project and paid for out of the project budget What is the appropriate response to a project risk that has a high impact and medium probability? Take preventative action to remove the risk. Which of the following estimates is recorded on the project schedule? Average There are several factors that can impact a project schedule. A necessary piece of equipment is only available for two weeks. Which of the following
is true regarding the creation of a WBS? Deliverables must be identified before activities. Which of the following is true regarding resource planning? The project team is considered a resource for a project. Which of the following is NOT true about the process of assigning resources to a project? Assigning people to tasks should follow scheduling Which level of interaction on a
responsibility matrix is used for the individuals who approve project actions? Accountable What is the purpose of developing and evaluating a project budget? To create an estimate for the project costs Which statement below is correct regarding the RACI for a project? It must be approved Which of the
following is NOT a resource used in the creation of the work breakdown structure? Project stakeholders Which of the following is NOT a main component of the project plan? Project completion plan Which of the following indicates the amount of additional time required between two dependent tasks? Lag time Contingencies are created for a project for what reason? To mitigate risks Which version of a project schedule below would be viewed by a stakeholder? A list of activities Select the item that would be included in a status report for a project. Next steps In order to classify the types of risk listed in the Risk Register, a project manager should consider which of the following issues? What disrupts the triple constraints Kirby purchased the tile, grout, and supplies to replace his kitchen floor. However, he chose to hire a professional contractor, paid by the hour, to do the installation.What type of contract did he make with the person he hired? Time Which of the following components of a project plan details the
equipment needed to complete the project deliverables? Resource plan Which of the following is NOT a resource used to help build a project budget? Risk management plan Which
of the following must occur before executing a plan for a project? Obtain proper approval Which budgeting method below begins by using the project schedule to determine the costs of the lowest level of tasks? Roll-up Sets found in the same folderProject Management - Sophia65 terms chickenboy4-9 Unit 222 terms phillipsnadinePLUS SOPHIA PROJECT MANAGEMENT - UNIT 2 - MILESTONE 222 terms grace_evan_adams Project Management - Sophia582 terms jordan_kilgore8 Other sets by this creatorPROJECT MANAGEMENT BUS 37511 terms grace_evan_adams Project management BUS 37525 terms grace_evan_adams ACC49720 terms grace_evan_adams ACCOUNTING 49733 terms grace_evan_adams How is a work breakdown structure used in project management quizlet?WBS divides a project into manageable tasks that can be individually planned, estimated and controlled. WBS is the entry data needed to produce a cost or time schedule.
Which of the following is captured in the Work Breakdown Structure?Work Breakdown Structure (WBS) is the most important project management tool. WBS captures the entire project scope of work in a very objective fashion. A well designed WBS guides the project team to do project planning, project execution and project control effectively.
What is a Work Breakdown Structure WBS )? Is it the only way to organize a project plan?A work breakdown structure (WBS) is a visual, hierarchical and deliverable-oriented deconstruction of a project. It is a helpful diagram for project managers because it allows them to break down their project scope and visualize all the tasks required to complete their projects.
What is the primary purpose of creating a work breakdown structure?The goal of a WBS is to make a large project more manageable. Breaking it down into smaller chunks means work can be done simultaneously by different team members, leading to better team productivity and easier project management.
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Which of the following is NOT a resource used in the creation of the work breakdown structure
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