Project Management Review Ch 6-8
Project Management Mastery Quiz
Test your knowledge and skills in project management with our comprehensive quiz covering chapters 6-8. Ideal for both students and professionals, this quiz challenges you with a variety of questions on cost management, earned value, and project performance metrics.
- 91 questions spanning key project management concepts
- Multiple choice format for ease of answering
- Ideal for self-assessment and review
- Boost your understanding of project cost management
Many information technology projects, that have cost overruns, involve new technology or business processes:
True
False
Cash flow analysis is a method for determining the estimated annual costs and benefits for a project and the resulting annual cash flow:
True
False
Internal rate of return (IRR) is the discount rate that makes net present value greater than zero:
True
False
A rough order of magnitude (ROM) estimate provides a rough idea of how long a project will run:
True
False
Analogous estimates are also called bottom-up estimating:
True
False
Bottom up estimating involves estimating individual work items and summing them to get a project total:
True
False
Constructive Cost Model (COCOMO) is used for estimating software development costs based on parameters:
True
False
Earned Value Management (EVM) is a project performance measurement technique that integrates scope, time, and cost data:
True
False
A project baseline is the original project plan plus any changes waiting for approvals:
True
False
Project cost management includes all of the following functions except:
Resource planning
Resource leveling
Cost estimating
Cost budgeting
What is a sunk cost?
The cost of a failed project
Management reserve
Money spent over which we have no control
Overhead cost
Life cycle costing:
Is a method of including all of the costs associated with the project over its entire life
Is a federal government accounting method
Is a method of predicting the life of a project
Is a method of evaluating projects when they are compete
A parametric cost estimate:
Is a bottom up estimating technique
Is a top down estimating technique
Is a statistical estimating technique
B and c
“Earned value” can best be defined as:
The value of the equipment that has been installed as of the data date
The sum of the labor costs that have been incurred on the project to date
A method of measuring the amount of money that has been spent to date
The actual cost of work performed (ACWP) minus the budgeted cost of work performed (BCWP)
The cost performance index (CPI) is:
Earned value divided by actual cost
Actual cost divided by earned value
Earned value divided by planned value
Planned value to date times percent complete
The project is considered on schedule if:
Schedule variance (SV) is negative
Cost variance (CV) is positive
Schedule performance index (SPI) is one or 100 percent
Earned value (EV) is positive
In a software project, the planned value (PV) was 80,000, the earned value (EV) was 75,000, and the actual cost (AC) was 71,00, what is the schedule variance (SV)?
+4,000
+9,000
�9,000
�5,000
In a software project, the planned value (PV) was 80,000, the earned value (EV) was 75,000 and the actual cost (AC) was 71,000, what is the cost performance index?
�0.947
0.947
0.937
1.056
In a software project, the planned value (PV) was 80,000, the earned value (EV) was 75,000 and the actual cost (AC) was 71,000, what is the cost variance (CV)?
�4,000
+4,000
+9,000
�9,000
Cash flow ____________________ is a method for determining the estimated annual costs and benefits for a project.
Analysis
Cost
Estimate
____________________ management plan is a document that describes how cost variances will be managed on the project.
Cost
Estimate
Index
A rough order of magnitude ____________________ is a cost estimate prepared very early in the life of a project to provide a rough idea of what a project will cost.
Estimate
Cost
Legacy
Cost performance ____________________ is the ratio of earned value to actual cost; can be used to estimate the projected cost to complete the project.
Index
Profit
Cost
Schedule performance ____________________ is the ratio of earned value to planned value; can be used to estimate the projected time to complete the project
Index
Cost
Profit
____________________ systems are older information technology systems that usually ran on an old mainframe computer.
Legacy
Estimate
Cost
____________________ is equal to revenues minus expenses
Profit
Cash
Cost
Profit ____________________ is the ratio between revenues and profits.
Margin
Estimate
Cost
____________________ modeling is a cost-estimating technique that uses project characteristics in a mathematical model to estimate project costs.
Parametric
Cost
Profit
According to the 1995 CHAOS study, what was the average cost overrun on IT projects? What was it in the 2001 study?
169 percent in the 1995 study; 45 percent in the 2001 study
Suppose you sell 10 widgets per day on average, and the average cost per widget is $10. If you sold 11 widgets one day, what would the affect on profits be?
There is not enough information to answer this question. You are given costs and asked to estimate profits. You do not know what the average profit is per widget. You might lose money by selling more widgets.
What is another name for earned value?
BCWP or budgeted cost of work performed
Quality planning includes identifying which quality standards are relevant to the project and how to satisfy them:
True
False
Quality assurance involves a one time evaluation of project performance to ensure that the project will satisfy the relevant quality standards:
True
False
Quality control involves monitoring specific project results to ensure that they comply with the relevant quality standards while identifying ways to improve overall quality:
True
False
Modern quality management does not require customer satisfaction but prefers prevention to inspection:
True
False
Genichi Taguchi key concept is that quality should be designed into the product and not inspected into it:
True
False
Design of experiments is a quality technique that helps identify which variables have the most influence on the overall outcome of a process:
True
False
Benchmarking is a technique that can be used to generate ideas for quality improvements by comparing specific project practices to those of other projects within or outside the performing organization:
True
False
Quality audits are structured reviews that are normally conducted whenever a problem is encountered in a project:
True
False
Pareto diagrams are histograms that help identify and prioritize problem areas in a project:
True
False
In a software development life cycle project, testing would normally come at the end of the project:
True
False
Quality management deals with the following except:
Conformance to requirements and specifications
Satisfying the needs of the customer
Making the product more desirable and luxurious
A and c
Quality assurance:
Refers to the prevention of product defects
Is an auditing function that provides feedback to the project team and client about the quality of the output being produced
Is the technical process that includes the construction of control charts, which specify the acceptability limits for conforming output
A and b
Following the methods used in Japan for quality control, Japan has improved quality dramatically in the last thirty years. Which of the following is not one of the reasons for this improvement?
The use of quality circles
Allowing the means for worker input and suggestions
Use of quality control charts
Focusing quality control effort on system output
Fishbone diagrams are used to:
Help find the root cause of quality problems
Improve the quality circle
Enhance the project manager’s quality management skills
All of the above
One of the fundamental belief of quality management is that quality:
Exceeds client expectations
Does not cost
Is planned in, not inspected in
All of the above
The diagram which ranks defects in the order of frequency of occurrence, using a histogram to depict 100 percent of the defects is called a:
Pareto diagram
Bar charts
Network diagram
Critical path
The main outputs of the quality control process are:
Pareto diagram, acceptance decisions, and process adjustments
Bar charts, network diagrams, and rework
Acceptance decisions, rework, and process adjustments
Acceptance decisions, performance indicators, and rework
Which of the following is not a true statement about control charts?
Control charts can be used to establish as well as maintain process control
Control charts are used to determine acceptance limits when no limits are stipulated by the product specification; otherwise, one should use the limits dictated by the specification
All data points outside the control chart limits are variations explained by assignable causes
B and c
Cost of quality is:
The expense of nonconformance to requirements and specifications
The direct responsibility of the project team members
The expense of conformance to requirements and specifications
A and c
Maturity models are used to:
Improve quality in software development projects
Help organizations improve their processes and systems
Enable continuous process improvement
All of the above
Project ____________________ management is implemented by means such as quality planning, control, assurance and improvement within the quality system.
Quality
Costs
Stats
In the quality management discipline, benefits ____________________ costs.
Outweigh
Quality
Costs
The project management team should have a working knowledge of ____________________ quality control.
Statistical
Numbers
Pareto
Quality ____________________ is evaluating overall project performance on a regular basis to provide confidence that the project will satisfy the relevant standards.
Assurance
Cost
Analysis
Capability ____________________ model is a five-level model laying out a generic path to process improvement for software development in organizations.
Maturity
Cost
Something
Cost of _________________________ is taking responsibility for failures or not meeting quality expectations.
Non-conformance
Quality
Assurance
Cost of ____________________ is the cost of conformance plus the cost of nonconformance
Quality
Cost
Estimation
____________________ analysis is used in identifying the vital few contributors that account for most quality problems in a system.
Pareto
Cost
Quality
User acceptance testing is a(n) ____________________ test performed by end users prior to accepting the delivered system.
Independent
Lonely
Love
____________________ cost is the cost of planning and executing a project so that it is error-free or within an acceptable error range.
Prevention
Quality
Estimate
Define quality and what is meant by stated and implied needs.
Quality is the totality of characteristics of an entity that bear on its ability to satisfy stated or implied needs. Stated needs are formally communicated either verbally or in writing. Implied needs mean the product is fit for use or can be used as it was intended.
Who created fishbone diagrams, and what are they used for?
Ishikawa developed fishbone diagrams, and they are used to trace complaints about quality problems back to the responsible production operations to find the root cause.
Which is better, 3 sigma, 4 sigma, 5 sigma, or 6 sigma?
6 sigma. There are less defective units as sigma increases. See Table 7-2 on pg. 209 for the relationship between sigma and the number of defective units.
Organizational planning involve identifying, assigning, and documenting project roles, responsibilities, and reporting relationships:
True
False
Team building involves building individual an group skills to enhance project performance:
True
False
Maslow’s hierarchy of needs states that people’s behaviors are not guided or motivated by a sequence of needs:
True
False
Frederick Herzberg is best known for distinguishing between motivational factors and hygiene factors when considering motivation in work settings:
True
False
A responsibility assignment matrix (RAM) is used to identify project roles and responsibilities:
True
False
An organizational breakdown structure (OBS) is developed without regard to the organizational chart of the performing organization:
True
False
A staffing management plan describes when and how people will be added to and taken off the project team:
True
False
Resource loading refers to the amount of individual resources an existing schedule requires during specific time periods:
True
False
Resource leveling is a technique for resolving conflicts by deleting conflicting tasks to create a smoother distribution of resource usage:
True
False
Project human resource management involves much more than using software to facilitate organizational planning and assign resources:
True
False
Project human resource management is divided into:
Organization planning, staff acquisition, and performance appraisal
Leadership, team building, and negotiation
Team building, communications, and labor relations
Organizational planning, staff acquisition, and team development
Tools and techniques to aid in staff acquisition include:
Staffing management plan
Procurement
Team directory
All of the above
Outputs of organizational planning are:
Project organization chart
Staffing management plan
Project template
All of the above
What method is used to communicate staffing requirements to the organization?
Gantt chart
Staffing plan
Responsibility matrix
Project objective statement
According to McGregor’s concept of theory X and theory Y, which of the following statements is true?
Theory X managers view their subordinates as lazy, irresponsible, and resistant to change
Theory Y managers view their subordinates as creative, imaginative, and agreeable to change
Theory Y mangers tend to delegate authority
All of the above
Responsibility ____________________ matrix is a matrix that maps the work of the project as described in the WBS to the people responsible for performing the work as described in the OBS.
Assignment
Delay
Trust
Myers-Briggs Type Indicator is a popular tool for determining ____________________ preferences.
Personality
Secret
Staff
Resource leveling is a technique for resolving resource conflicts by ____________________ tasks.
Delaying
Early
Late
Theory ____________________ is sometimes referred to as human relations theory.
Y
X
Z
Theory ____________________ is sometimes referred to as classical systems theory.
X
Y
Z
Theory ____________________ is based on the Japanese approach to motivating workers.
Z
X
Y
____________________ power uses punishment, threats, or other negative approaches to get people to do things they do not want to do.
Coercive
Delaying
Costs
____________________ power is getting people to do things based on an individual’s personal charisma.
Referent
Theory
Strong
Give an example of a hygiene factor, according to Herzberg.
Answers could include a more attractive work environment, training, or fringe benefits such as a good parking space or casual dress, and so on. Herzberg also says that money is a hygiene factor.
What type of chart is used to show resource loading?
A histogram
What do the letters RAM stand for as they relate to project human resource management?
Responsibility Assignment Matrix
What ways to have influence are correlated with successful projects?
Expertise and work challenge
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