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5 Written questions

5 Matching questions

  1. Analogous Estimating / Top-down
  2. Code of Accounts
  3. Project Risk Management
  4. Plan Quality
  5. Bid / quotation
  1. a Systematic process of planning, identifying, analyzing, responding, and monitoring and controlling project risk. It increases the probability and impact of positive events, and decrease the probability and impact of negative events in the project.
  2. b Documentation resulting from project activities. These files may also maintain records of other projects that are detailed enough to aid in developing cost estimates.
  3. c Terms used when the source selection decision will be based on price
  4. d Any numbering system used to uniquely identify each component of the work breakdown structure.
  5. e An estimating technique that uses the values of parameters, such as scope, cost, budget, and duration or measure of scale such as size, weight, and complexity, from a previous, similar activity as the basis for estimating the same parameter or measure for a current project. Using the actual cost of similar, previous projects as the basis for estimating the cost of the current project. Frequently used to estimate a parameter when there is a limited amount of detailed information about the project.

5 Multiple choice questions

  1. The policies, guidelines, or procedures that govern the recruitment of staff.
  2. Factors that will limit the project management team's options (e.g., a predefined budget)
  3. Helps to determine which risks have the most potential impact on the project. Examines the extent to which the uncertainty of each project element affects the objective being examined when all the other uncertain elements are held at their baseline values.
  4. Seller is a subcontractor, vendor, or supplier, who will typically manage the work of the project. Buyer is the customer who has outsourced work to the seller.
  5. Quantities to be performed for each specific category, and can be used to estimate activity durations

5 True/False questions

  1. Distribute InformationThey possess a blend of functional and projectized characteristics. Weak matrices maintain many of the characteristics of a functional organization, and the Project Manager's role is more that of a coordinator or expediter than that of a manager. Similarly, strong matrices have many of the characteristics of the projectized organization—full-time project managers with considerable authority, full-time project administrative staff, etc.

          

  2. Secondary RisksFactors that limit a buyer's options. E.g., funds availability

          

  3. Formal acceptance and closureIntegrates scope, cost (or resource), and schedule measures to help the project management team assess project performance.

          

  4. Lessons LearnedDiagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives.

          

  5. Fixed- price contractsInvolves payments (cost reimbursements) to the seller for all legitimate actual costs incurred for completed work, plus a fee representing seller profit

          

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