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- Social Science
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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 by the organization
The cost of people resources for a project, minus any non-people resources
Support items used by the project and paid for out
of the project budget
The total amount of all support items used by the project
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?
Disregard the risk.
Monitor and track the risk to determine any probability changes.
Monitor the risk, but do not take action to remove it.
Take
preventative action to remove the risk.
Take preventative action to remove the risk.
Which of the following estimates is recorded on the project schedule?
Average
Effort
Total
Time
Average
There are several factors that can impact a project schedule.
Select the example of a resource impacting a project
schedule.
Installation of a new system will take 24 hours, but the total time is three days since it can only be worked on for 8hours a day.
A necessary piece of equipment is only available for two weeks.
A part must be added to an item before the item can be packaged.
The finished product must be free of defects.
A necessary piece of equipment is only available for two weeks.
Which of the following
is true regarding the creation of a WBS?
Tasks must be identified before deliverables.
Activities should be identified before deliverables.
Deliverables must be identified before activities.
Tasks should be identified before activities.
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.
Resource planning focuses only on hiring people with the expertise to complete a project.
It involves securing the materials needed for a project before finding people resources.
All resources are provided from within an organization
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.
Anyone who is assigned to a project task becomes a member of the project team.
In the process of assigning people to the project tasks, the project manager may uncover gaps in resources.
All tasks should be assigned to either an internal or external resource, or both.
Assigning people to tasks should follow scheduling
Which level of interaction on a
responsibility matrix is used for the individuals who approve project actions?
Informed
Consulted
Accountable
Responsible
Accountable
What is the purpose of developing and evaluating a project budget?
To create a limit for spending company money
To create an estimate for the project costs
To determine the exact costs of the project
To ensure the company does not lose money on the
project
To create an estimate for the project costs
Which statement below is correct regarding the RACI for a project?
It defines responsibilities for all project tasks.
It describes project dependencies.
It defines only the responsibilities of team members.
It must be approved
It must be approved
Which of the
following is NOT a resource used in the creation of the work breakdown structure?
Similar project schedules
Project stakeholders
Subject matter experts
Project team members
Project stakeholders
Which of the following is NOT a main component of the project plan?
Project completion plan
Project budget
Work breakdown structure
Communication plan
Project completion plan
Which of the following indicates the amount of additional time required between two dependent tasks?
Lag time
Prep time
Lead time
Overall project time
Lag time
Contingencies are created for a project for what reason?
To monitor risks
To identify risks
To track risks
To mitigate risks
To mitigate risks
Which version of a project schedule below would be viewed by a stakeholder?
A list of activities
All activities and their related tasks
One activity and its related tasks
A list of tasks
A list of activities
Select the item that would be included in a status report for a project.
Related dependencies
Next steps
Time
required
Effort required
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?
Which risks were identified at the beginning of the project
What risks have the greatest impact
What disrupts the triple constraints
Which risk is most likely to occur
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 and materials
Time
Fixed bid
Materials
Time
Which of the following components of a project plan details the
equipment needed to complete the project deliverables?
Project budget
Resource plan
Project schedule
Communication plan
Resource plan
Which of the following is NOT a resource used to help build a project budget?
Historical budgets
Project schedule
Risk management plan
Project scope
Risk management plan
Which
of the following must occur before executing a plan for a project?
Purchase dashboard software
Obtain proper approval
Provide an accurate budget
Share a detailed schedule of all tasks
Obtain proper approval
Which budgeting method below begins by using the project schedule to determine the costs of the lowest level of tasks?
Comparison
Roll-up
Actual
Reserves
Roll-up
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