Project Management Quiz - 21

1. A contractor estimates that a project has a 0.5 probability of $200,000 profit and 0.3 probability of $50,000 loss. The expected monetary value of this project is:
[A]200000
[B]150000
[C]85000
[D]50000
[E]None of the above.



2. A project manager who allows the team to make the majority of the decisions is demonstrating a(n) ____ leadership style.
[A]Laissez-faire
[B]Boss-centered
[C]Subordinate centered
[D]Autocratic
[E]Demographic



3. Historical records during close-out are useful to _____ and _____ for future projects.
[A]Predict trends, highlight problems.
[B]Analyze successes, shortfalls.
[C]Analyze strengths, document results.
[D]Support litigation, defend claims.
[E]Justify results, set standards.



4. In a fishbone diagram, the effect you are concerned about is placed:
[A]at the right-hand end of the spine.
[B]at the end of the diagonal line (i.e. "fin").
[C]on a branch of a fin.
[D]at the left-hand end of the spine.
[E]None of the above.



5. Sound, prudent, but often unsophisticated judgement is called:
[A]common sense
[B]rational management
[C]smoothing
[D]confrontation
[E]None of the above



6. Which of the following types of specifications gives measurable capabilities of the product:
[A]functional specifications
[B]performance specifications
[C]conformance specifications
[D]technical specifications
[E]process capability specification



7. A graphical display of accumulated costs and labor hours for both budgeted and actual costs, plotted against time, is called a(n) _____.
[A]Trend line.
[B]Trend analysis.
[C]S curve.
[D]Percent completion report.
[E]Earned value report.



8. By using Project Risk Management techniques, project managers can develop strategies that do all but which of the following:
[A]Significantly reduce project risks
[B]eliminate project risks
[C]provide a rational basis for better decision making
[D]identify risks, their impact(s), and any appropriate responses
[E]None of the above.



9. In a flowchart, the diamond form is used to represent:
[A]a starting point.
[B]an operation.
[C]a written report.
[D]a decision point.
[E]an end point.



10. In small companies, project managers and line managers are:
[A]Never the same person
[B]Always the same person
[C]Sometimes the same person
[D]Always in disagreement with each other
[E]Forced to act as their own sponsors



11. Make or buy decisions are usually made during the _____ phase of a project.
[A]Conceptual
[B]Development.
[C]Implementation
[D]Execution
[E]Close-out



12. Managers who adopt a sound, but prudent managerial style are called
[A]authorization
[B]conciliatory
[C]ethical
[D]judicial
[E]promotional



13. The critical path in a network is the path that:
[A]Has the greatest degree of risk.
[B]Will elongate the project if the activities on this path take longer than anticipated.
[C]Must be completed before all other paths.
[D]All of the above.
[E]A and B only.



14. There are four general classes of products that the purchasing department seeks to obtain for production. Which is not one of these categories:
[A]Raw materials
[B]Standard production items
[C]Special items
[D]Items of small value
[E]Semi-precious materials



15. A good team leader must be concerned not only with _____ but also with _____ .
[A]Long term goals; short term goals
[B]Organizational goals; personal goals
[C]Legitimate power; referent power
[D]Group efficiency; power and authority
[E]Tasks to be accomplished; needs of the team members