This quiz opened at Tuesday, 26 September 2017, 11:00 AM

This quiz will close at Thursday, 5 October 2017, 11:59 PM

Project Management (Merged - ESZG523/MMZG523/QMZG523/HHSMZG519)
1. If Internal rate of return is less than the cost of capital

Select one:

a. Accept the project

b. Reject the project

c. Postpone the project

d. Indifferent
2. Time - Constrain and Cost - Acceptable means
Select one:

a. Time is fixed, cost is fixed

b. Time is optimized, cost overrun/under run is not acceptable

c. Time is fixed , cost can be optimized

d. Time is fixed, cost overrun/under run is acceptable

3. "Must to do" projects are called

Select one:

a. Strategic Projects

b. Operational Projects

c. Compliance Projects

d. All of the above

4. When an unusual amount of uncertainty surrounds a project, we use

Select one:

a. Range Estimating

b. Top-down approach

c. Bottom-up approach

d. Phase Estimating
5. The high risk and high vale projects are called

Select one:

a. bread and butter project

b. Pearls

c. Oysters

d. White elephants
6. When the project size and scope are small, we prefer

Select one:

a. Process break down structure

b. Organization break down structure

c. Work breakdown structure

d. Responsibility Matrix
7. The Bottom-up Approach for time and cost estimating is used when
Select one:

a. High uncertainty in project

b. Fixed price contract

c. Strategic and decision-making

d. Unstable Scope
8. Estimating pitfalls can result from

Select one:

a. All of the above

b. Using the wrong estimating techniques

c. Poorly defined statement of work

d. Failure to account for risks in the estimate

9. Which of the following is a valid way of evaluating the financial feasibility of a project

Select one:

a. All of the above

b. Net Present Value

c. Return on Investment

d. Internal rate of return

10. A significant event in a project that occurs at a point in time is called

Select one:

a. Milestones

b. Deleverable

c. Exclusions

d. Objective
11. One of your contractors sends you an e-mail request to use high quality raw materials in your project
stating that this will be value-added and improve quality. What should be the project manager do first?

Select one:

a. Ask your sponsor for his or her opinion

b. Change the work break down structure

c. Ask the contractor to put forth a change request

d. Change the scope baseline

12. Top - down approach is used for time and cost estimating when

Select one:

a. Fixed - price contract

b. Customer wants details

c. Unstable scope

d. Cost and time are important

13. Delphi Method is used in the following estimating methods

Select one:

a. Function Points
b. Ratio Method

c. Apportion Method

d. Consensus Method
14. The document that officially sanctions the project is the

Select one:

a. Project Plan

b. Feasibility Study

c. Project Charter

d. Cost-benefit analysis
15. One of the most condition reasons why projects undergo scope change is

Select one:

a. Poorly defined statement of work

b. Poor Work breakdown structure

c. Lack of resources

d. Lack of Funding
16. The change control board, of which you are a member approves a significant scope change. The first
document that the project manager should updated would be the

Select one:

a. Work break down structure

b. Budget

c. Schedule

d. Scope baseline
17. When work packages have significant uncertainty associated with the time or cost to complete, we use

Select one:

a. Top-down approach

b. Bottom-up approach

c. Phase Estimating

d. Range estimating
18. The work breakdown structure "control points" for the management of a project are the

Select one:

a. Milestones

b. Work Packages

c. Constraints

d. Activities
19. Which of the following generally cannot be validated using a work breakdown structure

Select one:

a. Cost control

b. Risk Management

c. Schedule control
d. Quality control
20. The lowest level of work break down structure is called

Select one:

a. Deleverables

b. Work Package

c. Work Accounts

d. Lowest Deliverables
21. Phase Estimating uses the following system over the life cycle of the project

Select one:

a. None of the above

b. Two-time system

c. All of the above

d. Three-time estimate

e. One - time estimate

22. The length of time required to recover the initial cash outlay on the project taking into account time value
of money is called

Select one:

a. Return of Investment

b. Discounted payback period

c. Payback period

d. Internal rate of return

23. For a project, if Net Benefit cost ratio is greater than 0

Select one:

a. Accept the project

b. Reject the project

c. Postpone the project

d. Indifferent
24. Increase in unsecured loans and deposits will be tabulated under

Select one:

a. Disposition of Funds

b. Sources of Funds

c. None of the above

d. All of the above

25. The source of many estimating risks is

Select one:

a. Poorly defined requirements

b. An inexperienced project manager

c. Lack of management support during estimating

d. All of the above