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FPM 2
FPM 2
19
Finance
Undergraduate 2
06/19/2019

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Term
h of the following statement
is not a characteristic of a project?
A) Constrained by limited resources
B) Planned, executed and controlled
C) Creates unique product or service
D)
Temporary but repetitiv
Definition
D) Temporary but repetitive
Term
Which is not a reason why projects fail?
A) End-user expectations are poorly defined
B) Poor planning and control is present
C)
Project management techniques are too complex
D) Bad organisational attitudes, practices and structure
Definition
C) Project management techniques are too complex
Term
t the correct answer. The sequence of fi
ve phases of a generic project life cycle are A) close-
out, B) definition, C) Implementation, D) Mobilisat
ion and E) Investigation are in the following order
A) C, D, B, E, A
B) B, E, C, D, A
C)
E, B, D, C, A
D) E, B, A, D, C
Definition
C)
E, B, D, C, A (Investigati
on, Definition, Mobilisation, Implimentation & Close-out)
Term
A Stage-Gate Project Life Cycle is used:
A) For projects of high uncertainty
B) To break down project into phases
C) For business development projects
D)
All of the above
Definition
D) all of the above
Term
Project’s Product success is measured as:
A) Meeting all project milestones
B) Creating all deliverables to specification
C)
Creating all deliverables that are fit for purpose
D) Not having time and cost overruns
Definition
C)
Creating all deliverables that are fit for purpose
Term
When breaking down the work, it is be
st to first break the project down in:
A) Activities
B) Work Packages
C)
Deliverables
D) Elements
Definition
C) deliverables
Term
Breaking down the work mainly helps to:
A)
Define manageable groups of activities
B) Identifies the management hierarchy
C) Identify the phase deliverables
D) Identifies the sequence of the work to be done
Definition
A) define manageable groups of activities
Term
To manage a project effectively, work should be
broken down into small pieces. Which of the
following does NOT describe how far to decompose the work:
A) Until it has a meaningful conclusion
B) Until it cannot be logically subdivided further
C)
Until it can be done by only one person
D) Until it can be r
ealistically estimated
Definition
C) until it can be done by only one person
Term
Which document defines the reason for doing the project?
A) The Scope Statement
B) The Scope Definition
C)
The Business Case
D) The Project Initiation Document (PID)
Definition
C) the business case
Term
You are managing a six-month project and held bi-w
eekly meetings with your project stakeholders.
After five and a half months of work, the project
is on schedule and in budget, but the stakeholders
are not satisfied as certain deliverables are not
included. This situation will delay the project
completion by one month. The most important proces
s that could have prevented this situation is:
A) Monitoring and Controlling the risks
B) Controlling the schedule
C)
Defining the scope
D) Controlling the scope
Definition
C) defining the scope
Term
During the completion of the project work, the proj
ect sponsor asks the project manager to report
on how the project is doing. In order to prepare the report, the project manager asks all the team
members what percentage of their work is comple
ted. There is one team member who has been
hard to manage from the beginning. In his response to the project manager’s question, the team
member asks “Percentage of what?”
Being tired of such comments,
the project manager reports to
the team member’s boss that the team member is
not cooperating. Which of the following is MOST
likely the reason for the team member’s behaviour:
A) The project manager did not get buy-in from
the manager for the resources on the project
B) The project manager did not create an adequ
ate incentive scheme for team members to
improve their cooperation
C) The project manager should have had a meet
ing with the team member’s boss the first
time the team member caused trouble
D)
The project manager did not assign work packages properly
Definition
D) the project manager did not assign the work packages properly
Term
The Aggressive-Time Estimate (P
50
-Time Estimate) and Safe-Time Estimate (P
90
Time Estimate)
are outputs of the following estimation techniques:
A) Parametric Estimation
B) Vendor bid analysis
C)
Three-point estimation
D) Analogues Estimation
Definition
C) three-point estimation
Term
Time reserves for individual activities on a project should be efficiently stored as follows:
A) As slack time on each activity
B)
The project buffer
C) Extra catching-up activities for delayed work
D) Using safe durations
Definition
B) the project buffer
Term
A cost contingency for a project is determined as follows:
A) Adding a fixed percentage to the project cost
B)
Using variability in the individual cost estimates
C) Rule of thumb
D) Do not use one as it will
make the project overpriced
Definition
B) using variability in the individual cost estimates
Term
The following is not a factor in the assessment of project risk:
A) Risk events
B) Risk probability
C) Amount at stake
D)
Insurance premium
Definition
D) insurance premiums
Term
A project has faced major difficulties in the qualit
y of its deliverables. Management now states that
quality is the most important project constraint. If
another problem with quality were to occur, what
would be the best thing for the project manager to do?
A) Fix the problem as soon as possible
B)
Allow the cost to increase by fixing the root cause of the problem
C) Allow risk to increase by cutting cost
D) Fix the problem at the end of the project
Definition
B) allow the cost to increase by fixing the root of the problem
Term
During a team meeting, the team adds a specific
area of extra work to the project because they
have determined it would benefit
the customer. What is wrong in this situation?
A)
The team is “gold plating”/spending unrequired money and resources
B) These effort should not be done in meetings
C) Nothing. This is how to meet and exceed customer expectations
D) Nothing. The project manager is in control of the situation
Definition
A) the team is "gold plating"/spending unrequired money and resources
Term
What does a resource histogram show that a
responsibility assignment
matrix does not?
A)
Time
B) Activities
C) Interrelationships
D) The person in charge of each activity
Definition
A) time
Term
During project planning in a matrix organization,
the project manager determines that additional
human resources are needed. From whom would he request these resources?
A) The Programme or portfolio manager
B)
The Functional manager
C) The team
D) The project sponsor
Definition
B) the functional manager
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