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A project manager asked various stakeholders to determine the probability and impact of a number of risks. He then tested assumptions and evaluated the precision of the risk data. He is about to move to the next step of risk management. Based on this information, what has the PM forgotten to do?

Option 1: Evaluate trends in risk analysis
Option 2: Identify triggers
Option 3: Provide a standardized risk rating matrix
Option 4: Create a fallback plan
Option 5:

Problem solving addresses only the causes of problems on the project.

Option 1: True
Option 2: False
Option 3:
Option 4:
Option 5:

A project manager needs to analyze the project costs to find ways to decrease costs, It would be BEST if the project manager looks at:

Option 1: variable costs and fixed costs.
Option 2: fixed costs and indirect costs.
Option 3: direct costs and variable costs.
Option 4: indirect costs and direct costs.
Option 5:

A project manager is working with management to create the project estimate,During the initiation phase, what level of accuracy should the estimate have?

Option 1: -25% to +75%
Option 2: -10% to +25%
Option 3: -35% to + 75%
Option 4: -10% to +10%
Option 5:

A mandatory prerequisite for team building is:

Option 1: Commitment from top management
Option 2: Co-location of team members
Option 3: Open discussion of poor individual performance
Option 4: Funding for staff development activities
Option 5: Shared work ethics among members of the team

Cost Management includes:

Option 1: Cost estimating
Option 2: Cost budgeting
Option 3: Cost control
Option 4: All of the above
Option 5: A and B only

Risk tolerances are determined in order to help:

Option 1: The team rank the project risks
Option 2: The project manager estimate the project
Option 3: The team schedule the project
Option 4: Management know how other managers will act on the project
Option 5:

A project manager has just been hired and is trying to gain the cooperation of others. What is the BEST form of power for gaining cooperation under these circumstances?

Option 1: Formal
Option 2: Referent
Option 3: Penalty
Option 4: Expert
Option 5:

Risks will be identified during which phase of the project management life cycle?

Option 1: Initiating
Option 2: Planning
Option 3: Executing
Option 4: All phases
Option 5:

Cost performance index is:

Option 1: AC/EV
Option 2: SPI/PV
Option 3: EV/AC
Option 4: PV/EV
Option 5: None of the above

You are managing a multi-million dollar project that is a joint venture between your company and another organization. You have repeatedly tried to get the contract and the project charter finalized between the two organizations, but there has been a great deal of quibbling over language and details. The project's scope has been expanding, costs have been increasing, and the schedule has been regularly lengthening. You learn very suddenly that the project has been cancelled, because the other organization withdrew its share of the funding for the project. What is the MOST likely reason that this occurred?

Option 1: Failure to understand the budgetary process
Option 2: Inadequate scope management
Option 3: Lack of executive commitment
Option 4: Poorly done initial cost-benefit analysis
Option 5:

A definitive estimate should give the manager cost data accurate to within:

Option 1: -5 to +10 percent of actual costs
Option 2: -25 to +75 percent of actual costs
Option 3: -30 to +85 percent of actual costs
Option 4: -10 to +25 percent of actual costs
Option 5: None of the above

All of the following statements about acceptance sampling plans are true except:

Option 1: Acceptance sampling plans are beneficial when the cost of inspection is high and the resulting loss of passing nonconforming units is not great.
Option 2: Acceptance sampling plans are necessary when destructive inspections are required.
Option 3: Acceptance sampling plans are never as effective at rejecting nonconforming units as 100 percent inspection, even when the inspection process is very tedious.
Option 4: Acceptance sampling plans do not directly control the quality of a series of lots; they instead specify the risk of accepting lots of given quality.
Option 5: Acceptance sampling plans are not very effective for inspecting small lots of custom-made products.

The five basic groups are:

Option 1: Planning, recording, directing, monitoring, evaluating
Option 2: Initiating, planning, executing, controlling, closing
Option 3: Planning, executing, monitoring, redirecting, closing
Option 4: Planning, executing, directing, closing, delivering
Option 5: Initiating, executing, monitoring, evaluating, closing

All of the following are inputs to the risk management process EXCEPT:

Option 1: Historical information
Option 2: Lessons learned
Option 3: Work breakdown structure
Option 4: Project status reports
Option 5:

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