MGMT 404 Week 4 Quiz (Updated)

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MGMT 404 Week 4 Quiz (Updated)

1. (TCO 1) Which step of the project life cycle creates the project charter? (Points : 5)

Initiation
Planning
Monitoring and control
Close out

 

Question 2.2. (TCO 1) The purpose of a project charter is to (Points : 5)

define the project.
allow for the creation of a WBS.
authorize the project.
define detailed project risks.

 

Question 3.3. (TCO 2) Which step of the project life cycle defines all of the project deliverables? (Points : 5)

Close out
Planning
Monitoring and control
Initiation

 

Question 4.4. (TCO 2) Which statement is an example of a project constraint? (Points : 5)

“If the parts arrive late, we will not finish on time.”
“We must get permits before we start work.”
“I believe the contracts will be signed by the 15th.”
“The paving of the parking lot is a major piece of work for this project.”
 

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Question 5.5. (TCO 3) The critical path in a project describes which of the following? (Points : 5)

The path containing the most important pieces of work
The longest path in a project
The activities with the highest risk
The activities with the highest cost to the project

 

Question 6.6. (TCO 3) Hammock activities are used to do which of the following? (Points : 5)

Ensure critical path work is done on time.
Capture lessons learned on two or more activities.
Summarize duration and cost information on related activities.
Provide information on project slack.

 

Question 7.7. (TCO 5) In which process of risk management are proactive and reactive strategies considered? (Points : 5)

Plan risk management
Plan risk responses
Control risks
Qualitative risk analysis

 

Question 8.8. (TCO 5) A risk matrix is used in _____ to _____.  A risk register is a _____. (Points : 5)

qualitative risk analysis; prioritize risks; list of risks
quantitative risk analysis; identify risks; way to categorize risks
qualitative risk analysis; create risk strategies; way to monitor negative risks
risk identification; simulate project risks; way to categorize risks

 

  1. (TCO 1) Before one can begin writing a charter, one must consider the most appropriate organization for the project. You are the project manager for an organization that builds doors and windows for homes. Which organization structure of the five types is most suitable? Why?(Points : 20)
  1. (TCO 3) Compare and contrast crashing and fast tracking as a means of schedule compression.(Points : 20)
  1. (TCO 9) List and describe at least three key differences between risk management in an agile environment and risk management in a traditional project.(Points : 20)
  1. (TCO 2) You are a project manager at a bike shop. You just received a shipment of new bikes that need to be assembled. For each bike, the frame needs to be set, which includes the bike frame, handle bars, and the seat. The wheels need to be mounted. The braking system needs to be installed. Before a bike can be sold, it needs to be tested by the quality team and road tested. You have assembled your team of experts and they are anxious to get started.Part 1: To ensure you have a clear scope for your team, create a 2-level WBS. Don’t forget to include your WBS numbering. (15 points)

    Part 2: In your WBS, how many work packages have been created? (5 points) (Points : 20)

 

  1. (TCO 5) A firm hosts eCommerce transactions for other companies. The firm processes credit purchases supporting most major credit cards and is known as an inexpensive alternative to other larger competitors. The firm is deploying new security software that is state-of-the-art for eCommerce. It should increase security while speeding up transactions because of the new security algorithms.Part 1: List and discuss the major risk management functions from a project management perspective for the eCommerce project. (15 points)

    Part 2: Describe a positive and negative risk event, the related consequences, and the risk response plans for the eCommerce project. (5 points)
    (Points : 20)

 

 

 

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