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DeVry University, Chicago PROJ586 Final Exam 2_Prep Test_Latest_Graded A

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PROJ 586 Final Exam PROJ 586 Final Exam A+ (TCO A) A project is a temporary endeavor undertaken to create what three things Unique product, service, or objective Unique project, service, ... or routine Unique product, service, or result Unique routine, service, or result (TCO A) In a _____ organization, resources are controlled by a functional manager and the project manager used cross-functional teams to accomplish the goals of the project. Strong Matrix Pure Project Functional Weak Matrix (TCO A) In the _____ organization structure, the project manager is responsible for the project results, whereas the functional manager is responsible for providing the resources needed to achieve the results. Mixed-mode Matrix Autonomous project Functional (TCO H) What is the shortest phase of the project life cycle? Initiating Planning Executing Closing (TCO H) The fundamental purpose of the post-project evaluation is to improve future projects. An important component of this evaluation is The closure checklist Lessons learned The project audit Customer satisfaction report (TCO B) The _____ is a method used to display, in tabular form, the individuals responsible for accomplishing the work items in the WBS. Responsibility Assignment Matrix Resource map OBS WBS (TCO D) A _____ is a predefined set of actions that will be implemented if the risk event occurs Management proposal Classification array Contingency plan Risk contingency matrix (TCO F) The primary purpose of a _____ meeting is to identify and resolve problems. Communications flow Status review Technical design review Problem solving (TCO F) The two most common types of project reports are _____. Progress reports and the contract report Weekly and monthly Progress reports and the final report Update-only reports and status (TCO C) If _____ is positive, it represents the maximum amount of time that the activities on a particular path can be delayed without jeopardizing the completion of the project by its required completion time. Total time Free float Total slack Cumulative slack (TCO A) Which of the following is not an example of a project? Starting up a restaurant Creating a website for a company Raising money for a disaster-relief trip Emptying the recycling everyday (TCO A) The project plan is executed in the _____. Planning phase Initiating phase Closing phase Executive phase (TCO B) The _____ is a method used to display, in tabular form, the individuals responsible for accomplishing the work items in the WBS. Responsibility Assignment Matrix OBS WBS Resource map (TCO C) Why are activities drawn in a serial relationship on a network diagram? The activities use different resources. The activities are independent of each other. From a technical standpoint, the activities must be performed in that sequence. The order of completion doesn’t matter. (TCO C) The statement, “Network diagrams illustrate the technical constraints among activities,” means that activities are constrained because _____. The activities use different resources to be completed Some activities use the same resources that may not be available One activity cannot be started until the predecessors are finished Each of the activities is independent from the other activities (TCO F) Allocating total project costs for the various elements to the appropriate work packages establishes _____. The committed costs for the work package The anticipated expense for the work package How to apply resources to the work package A total budgeted cost (TBC) for each work package (TCO F) _____ percent of the project manager’s job is communication. Zero Ninety Fifty Ten (TCO F) It is important to use the _____ as the standard against which actual cost is compared. Total budget Budget at completion Phased budget Cumulative budget (TCO C) Calculate the earliest finish for Task B if its predecessor, Task A, finishes on day 3 and the duration of Task B is 2 days. Day 5 Day 3 Day 1 This cannot be calculated based upon the information given (TCO C) The _____ time is the latest time by which a particular activity must be finished in order for the entire project to be completed by its required completion time. Latest finish Earliest finish Earliest start Latest start (TCO H) A project audit provides an opportunity to evaluate issues and concerns to determine potential improvements. Some benefits of a project audit are Reduce project risk, time, and cost overruns Keep the scope of the project under control Allow the project team to have good performance Recommend outsourcing on other projects (TCO B) Describe what each of the following means in project planning: what, how, who, how long, and how much. In project planning, what refers to the objectives, goals or purpose of the project – what it aims to achieve or… (TCO B) List the seven steps to building a WBS. The following are the steps for creating a WBS: List the committed deliverables. Break… (TCO C) A project to remodel a bathroom has the following activities. (Hint: You will need to build an AIB/AON diagram, perform a forward pass, and perform a backward pass to answer this question.) Activity Duration Predecessors A 2 months — B 4 months — C 4 months — D 1 month A E 5 months B F 2 months B, C G 1 month C H 3 months E, F, G I 2 months D, E J 2 months G, H a. What are the critical path activities? (8 points) b. What is the project’s scheduled completion time? (8 points) c. What is the slack or float for Activity A? Show your calculations. (8 points) d. What is the slack or float for Activity E? Show your calculations. (8 points) e. What is the slack or float for Activity F? Show your calculations. (8 points) (TCO E) Describe four specific traits that should be exhibited by the project manager. Briefly outline a situation where one of these traits is lacking, and the potential effect on project team performance. https://www.hiqualitytutorials.com/product/describe-four-specific-traits/ The 4 traits of a project manager are organized and efficient, honest and reliable, highly skilled communicator, and leadership abilities. The project manager must have… (TCO C) A project to remodel a garage has the following activities. (Hint: You will need to build an AIB/AON diagram, perform a forward pass, and perform a backward pass to answer this question.) https://www.hiqualitytutorials.com/product/project-remodel-garage-has/ ActivityDurationPredecessors A4 months— B3 months— C3 months— D5 monthsC E3 monthsA, B F3 monthsB, C G3 monthsE, F H4 monthsD, F I5 monthsG J2 monthsH What are the critical path activities? (8 points) What is the project’s scheduled completion time? (8 points) What is the slack or float for Activity C? Show your calculations. (8 points) What is the slack or float for Activity D? Show your calculations. (8 points) What is the slack or float for Activity F? Show your calculations. (8 points) (TCO D) A firm hosts data-mining servers and performs data mining for other companies that do not desire the costs of hardware, software, or expertise to data mine their data. The firm is planning to roll out faster data-mining software that will reduce the time needed to sift through customers’ data by a fraction of the present time. Part 1: List and discuss the six steps in risk management for the new data-mining project. (17.5 points) Part 2: Describe a positive and negative risk event, the consequences, and the risk-response plans for the data-mining software project. (17.5 points) [Show More]

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