Budgeting and Scheduling Project Answer
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Budgeting and Scheduling Project Answer
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Module 2 Quiz
1.
Question 1
True or False: The term resources only refers to people, it does not include money or materials or equipment.
1 point
- False
- True
2.
Question 2
In our lessons the acronym RAM stands for:
1 point
- Responsible Accountable Manageable
- Responsibility Assignment Matrix
- Resource Aligned Management
- Resource Acquisition Management
- Responsibility Accountability Matrix
3.
Question 3
When you use the RACI or Responsible, Accountable, Consult, Inform version of the RAM, those who are responsible are:
1 point
- Not completing the work
- Supervising the work
- Completing the work
- Providing subject matter expertise
4.
Question 4
A work package is a/an:
1 point
- Activity that can be assigned to one or more organizational units
- Deliverable at the lowest level of the WBS
- Required level of reporting
- Activity at the lowest level of the WBS
5.
Question 5
The WBS is used to derive all but one of the following:
1 point
- The activity list
- The project schedule baseline
- The business need for the project
- The project cost performance baseline
6.
Question 6
True or False: When it comes to projects, the emphasis is on strategic quality management. Quality is not an accident, quality is part of the plan, and quality is everyone’s job.
1 point
- True
- False
7.
Question 7
The discipline of quality management complements the discipline of project management. Both recognize the importance of:
1 point
- Team satisfaction and inspection over prevention
- Customer satisfaction, prevention over inspection, continuous improvement, and management responsibility
- Company satisfaction, continuous improvement, and management protocol
- Responsibility of only the sponsor, continuous improvement, and inspection
8.
Question 8
True or False: Product quality focuses on the project management processes used to meet project objectives
1 point
- False
- True
9.
Question 9
The Process Improvement Plan is:
1 point
- The number one component of the project management plan.
- a subsidiary, or component of the project management plan.
10.
Question 10
True or False: Performing quality assurance within the context of a project involves applying the planned, systematic quality activities to ensure that the project correctly employs all processes needed to meet project objectives and product requirements.
1 point
- True
- False
Module 3 Quiz
1.
Question 1
An estimate created by looking at a similar project or activity and then adding or subtracting to or from the estimate based on the differences between the two is called:
1 point
Exact estimating
Bottoms up estimating
Analogous estimating
Parametric estimating
2.
Question 2
When you have good historical information which can be used in a reliable formula or model, you will probably use:
1 point
Parametric estimating
Bottoms up estimating
Analogous estimating
Exact estimating
3.
Question 3
True or False: When you are concerned that your estimates might not be correct, especially if you think they are too low, you should pad the estimate and add extra.
1 point
False
True
4.
Question 4
Which one of these most correctly defines management reserve?
1 point
Management reserve is tied to specific work packages.
Management reserve is not tied to specific work packages it is for the entire project.
Management reserve is tied to a specific milestone or event.
Per our lesson, management reserve and contingency are exactly the same.
5.
Question 5
You are preparing an estimate of the cost for an IT system expansion for a new branch office location. It is a very similar to the IT system expansion undertaken for a branch office that opened six months ago. Which technique might you use if you are pushed for a quick estimate?
1 point
Analogous
Bottoms up
Parametric
Probabilistic
6.
Question 6
You are building an apartment complex with four, 10,000 square foot buildings based on the same drawings you used in another city two years ago. What is the danger of estimating using the same parametric model of $50 per square foot?
1 point
It’s not very easy to scale.
The technical design is unstable.
Historical cost relationships may no longer be applicable.
It will take much more time than a bottoms up estimating.
7.
Question 7
What description defines Bottoms Up Estimating?
1 point
A technique that involves estimating the cost of individual work packages or individual schedule activities with the lowest level of detail.
A technique that uses a mathematical model to estimate costs.
A technique that analyzes activities on past projects and using them as a basis for estimating costs.
8.
Question 8
True or False: The Project Budget is equal to only the cost baseline budget.
1 point
True
False
9.
Question 9
True or False: The S-Curve depicts the relationship between the cost baseline budget and the schedule because it shows the planned cost baseline budget across the planned project timeline.
1 point
True
False
10.
Question 10
Earned value management integrates scope, cost, and schedule measures to:
1 point
develop a preliminary budget.
assess project performance and progress.
assess communication effectiveness among project team members.
assess whether all requirements were met.
Module 4 Quiz
1.
Question 1
When you schedule work in a specific order because it cannot be completed any other way this is what type of dependency?
1 point
External
Discretionary
Internal
Mandatory
2.
Question 2
True or False: If develop online modules must be 100% completed before review online modules can begin, that is called a finish to start relationship.
1 point
False
True
3.
Question 3
If develop online modules needs to finish before review online modules can finish, that is called a:
1 point
Start to finish relationship.
Start to start relationship.
Finish to start relationship.
Finish to finish relationship.
4.
Question 4
To calculate early start (ES) and early finish (EF) perform a:
1 point
Critical pass
Lateral pass
Forward pass
Backward pass
5.
Question 5
True or False: The critical path is the shortest path through the network and represents the work that can be delayed without delaying the end of the project.
1 point
False
True
6.
Question 6
The network diagram is the best tool for demonstrating:
1 point
The sequence of project activities
Resource requirements
Schedule performance over time
Schedule variances
7.
Question 7
All of the following are inputs to estimating activity durations except:
1 point
Organizational process assets
Resource calendars and scope statement
Activity list and activity attributes
Requirements specifications
8.
Question 8
In a project schedule, the sequence of activities which cannot be delayed during the course of the project without extending the project end date is referred to as the:
1 point
Slack line
Schedule baseline
Critical path
Action plan
9.
Question 9
A significant event in a project that may indicate completion of a major phase is a/an:
1 point
Work package
Activity
Deliverable
Milestone
10.
Question 10
Once the logic of a network is laid out, the project manager will conduct a forward pass and a backward pass through the network. This will provide information regarding ______ and will identify the________.
1 point
The total duration of the project, critical path
The high risk activities, non-critical path
Resource shortages, high risk activities
The slack for each activity, high risk activities
Final Exam
1.
Question 1
True or False: The term resources only refers to people, it does not include money or materials or equipment.
1 point
True
False
2.
Question 2
In our lessons the acronym RAM stands for:
1 point
Responsibility Accountability Matrix
Resource Acquisition Management
Resource Aligned Management
Responsibility Assignment Matrix
Responsible Accountable Manageable
3.
Question 3
When you use the RACI or Responsible, Accountable, Consult, Inform version of the RAM, those who are responsible are:
1 point
Completing the work
Supervising the work
Providing subject matter expertise
Not completing the work
4.
Question 4
A work package is a/an:
1 point
Activity that can be assigned to one or more organizational units
Activity at the lowest level of the WBS
Deliverable at the lowest level of the WBS
Required level of reporting
5.
Question 5
The WBS is used to derive all but one of the following:
1 point
The project schedule baseline
The business need for the project
The activity list
The project cost performance baseline
6.
Question 6
True or False: When it comes to projects, the emphasis is on strategic quality management. Quality is not an accident, quality is part of the plan, and quality is everyone’s job.
1 point
False
True
7.
Question 7
The discipline of quality management complements the discipline of project management. Both recognize the importance of:
1 point
Team satisfaction and inspection over prevention
Customer satisfaction, prevention over inspection, continuous improvement, and management responsibility
Responsibility of only the sponsor, continuous improvement, and inspection
Company satisfaction, continuous improvement, and management protocol
8.
Question 8
The Process Improvement Plan is:
1 point
a subsidiary, or component of the project management plan.
The number one component of the project management plan.
9.
Question 9
An estimate created by looking at a similar project or activity and then adding or subtracting to or from the estimate based on the differences between the two is called:
1 point
Parametric estimating
Bottoms up estimating
Exact estimating
Analogous estimating
10.
Question 10
When you have good historical information which can be used in a reliable formula or model, you will probably use:
1 point
Parametric estimating
Bottoms up estimating
Analogous estimating
Exact estimating
11.
Question 11
True or False: When you are concerned that your estimates might not be correct, especially if you think they are too low, you should pad the estimate and add extra.
1 point
True
False
12.
Question 12
Which one of these most correctly defines management reserve?
1 point
Management reserve is tied to specific work packages.
Per our lesson, management reserve and contingency are exactly the same.
Management reserve is not tied to specific work packages it is for the entire project.
Management reserve is tied to a specific milestone or event.
13.
Question 13
You are preparing an estimate for the cost of an IT system expansion for a new branch office location. It is a very similar to the IT system expansion undertaken for a branch office that opened six months ago. Which technique might you use if you are pushed for a quick estimate?
1 point
Analogous
Probabilistic
Bottom up
Parametric
14.
Question 14
You are building an apartment complex with four, 10,000 square foot buildings based on the same drawings you used in another city two years ago. What is the danger of estimating using the same parametric model of $50 per square foot?
1 point
The technical design is unstable.
Historical cost relationships may no longer applicable.
It will take much more time than a bottom-up estimating.
It’s not very easy to scale.
15.
Question 15
What description defines Bottom-Up Estimating?
1 point
A technique that analyzes activities on past projects and using them as a basis for estimating costs.
A technique that uses a mathematical model to estimate costs.
A technique that involves estimating the cost of individual work packages or individual schedule activities with the lowest level of detail.
16.
Question 16
True or False: The S-Curve depicts the relationship between the cost baseline budget and the schedule because it shows the planned cost baseline budget across the planned project timeline.
1 point
False
True
17.
Question 17
When you schedule work in a specific order because it cannot be completed any other way this is what type of dependency?
1 point
Mandatory
Discretionary
Internal
External
18.
Question 18
If develop online modules needs to finish before review online modules can finish, that is called a:
1 point
Finish to finish relationship.
Start to start relationship.
Finish to start relationship.
Start to finish relationship.
19.
Question 19
To calculate early start (ES) and early finish (EF) perform a:
1 point
Backward pass
Critical pass
Forward pass
Lateral pass
20.
Question 20
True or False: The critical path is the shortest path through the network and represents the work that can be delayed without delaying the end of the project.
1 point
True
False
21.
Question 21
The network diagram is the best tool for demonstrating:
1 point
Schedule variances
Schedule performance over time
The sequence of project activities
Resource requirements
22.
Question 22
All of the following are inputs to estimating activity durations except:
1 point
Activity list and activity attributes
Resource calendars and scope statement
Organizational process assets
Requirements specifications
23.
Question 23
In a project schedule, the sequence of activities which cannot be delayed during the course of the project without extending the project end date is referred to as the:
1 point
Critical path
Action plan
Schedule baseline
Slack line
24.
Question 24
A significant event in a project that may indicate completion of a major phase is a/an:
1 point
Activity
Milestone
Work package
Deliverable
25.
Question 25
Once the logic of a network is laid out, the project manager will conduct a forward pass and a backward pass through the network. This will provide information regarding ______ and will identify the________.
1 point
The total duration of the project, critical path
The slack for each activity, high risk activities
Resource shortages, high risk activities
The high risk activities, non-critical path
