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Chapter 7 Project Cost Management TRUE/FALSE 1. Overrun is the added percentage amount through which approximates exceed actual costs. - FALSE 2. The major output of the planning expense administration procedure is a readjust request. - FALSE 3. IT task supervisors need to be able to present and also comment on job indevelopment both in financial and also technical terms.- TRUE 4. Project managers have to conduct cash flow evaluation to determine net present value. - TRUE 5. Intangible prices have the right to be quickly measured in monetary terms. - FALSE 6. When deciding what jobs to invest in or proceed, one should incorporate sunk costs.- FALSE 7. It is crucial for project supervisors to focus on indirect prices bereason they can be conveniently controlled - FALSE 8. If a vital supplier goes out of company, administration reserves have the right to be set aside to cover the resulting expenses. - FALSE 9. Contingency reserves are also well-known as unknown unknowns.- TRUE 10. A cost management setup deserve to include organizational procedures links, regulate thresholds, and also process descriptions. - TRUE 11. A budgetary estimate is the the majority of precise of the 3 types of estimates.- FALSE 12. Budgetary approximates are made also before a job is officially started. - FALSE 13. Definitive approximates are made one year or less prior to project completion. - TRUE 14. Price quotes need to become more precise as time progresses. - TRUE 15. Supporting details for an estimate include the ground rules and also assumptions provided in creating the estimate. - TRUE 16. Analogous approximates are called activity-based costing. - FALSE 17. Analogous estimates are the a lot of accurate strategy to estimate costs. - FALSE 18. In a bottom-up estimate, the dimension of the individual job-related items is one of the factors that drives the accuracy of the estimates. - TRUE 19. Parametric models are trusted as soon as the models are versatile in terms of the project’s size. - TRUE 20. One of the factors why job cost approximates are inprecise is bereason humans are biased towards underestimation. - TRUE 21. It is necessary for task managers to understand that eextremely cost estimate is distinct. - TRUE 22. Determining the budgain requires allocating the task price estimate to individual work items over time. - TRUE 23. The task management setup and also task funding needs are inputs of the procedure of regulating prices. - TRUE 24. The formulas for variances and indexes start through EV, the earned value. - TRUE 25. If expense variance is a positive number, it means that percreating the work-related costs more than planned. - FALSE 26. A negative schedule variance means that it took lesser than planned to percreate the work-related. - FALSE 27. If the price performance index (CPI) is much less than 100 percent, the project is under budacquire. - FALSE 28. A schedule performance index of one means that the project is on schedule. - TRUE 29. In an earned worth chart, as soon as the actual cost line is best on or above the earned worth line, it suggests that expenses are much less than planned. - FALSE Spreadsheets are a prevalent tool for expense estimating, price budgeting, and expense regulate. - TRUE MULTIPLE CHOICE 1. ___ consists of the procedures forced to encertain that a project team completes a task within an approved budget. Project price monitoring 2. Which of the following entails occurring an approximation of the costs of sources needed to finish a project? Estimating prices 3. __ involves allocating the overall expense estimate to individual work-related items to establish a baseline for measuring performance. Determining the budobtain 4. ____________________________ One of the major outputs of the process is a expense baseline. cost budgeting 5. The process of controlling costs mostly involves: controlling transforms to the task budacquire. 6. Work performance indevelopment and price forecasts are main outputs of the _____process. expense manage 7. Profits might be characterized as: profits minus expenditures. 8. __ helps build a specific projection of a project’s financial expenses and benefits. Life cycle costing 9. is an approach for determining the estimated annual expenses and also benefits for a job. Cash circulation analysis 10. Which of the adhering to is true of tangible costs? They have the right to be quickly measured. 11. are those prices that are tough to measure in monetary terms. Intangible expenses 11. Newtechnology Inc. hires John for the place of a software program programmer to work-related on their brand-new job. Salary phelp to John by Newtech Inc. would certainly be an instance of costs. straight 12. Instraight costs are: not directly concerned the products or services of a job. 13. Soles is a footwear company which has actually newly set up its keep in Ambrosia. To manufacture its assets, Soles incurs a range of various expenses. Which of the complying with would certainly be an example of an indirect cost? Electricity provided to run its factories 14. Good Earth, a firm production packaged food products, sets up its stores in Baltonia. However, a year later on, the agency closes the keep down because of high operating expenses. In such a scenario, the money spent in paying for the rent of the store in Baltonia would certainly be an instance of prices. sunk 15. Which of the following is true of contingency reserves? They allow for future cases that can be partially planned for. 16. Which of the complying with reserves enables for future situations that are unpredictable? Management reserves 17. The first step in task expense management is: to setup just how expenses will be regulated different kinds of resources. 18. Which of the complying with is true of a turbulent order of magnitude estimate? It provides an estimate of what a task will price. 19. A turbulent order of magnitude estimate have the right to be described as a ballpark estimate. A expense estimation tool which is provided to alsituate money right into an organization’s budobtain is well-known as a estimate. budgetary 20. 21. A estimate is used for making many kind of purchasing decisions for which precise estimates are forced and for estimating final project expenses. definitive 22. Which of the following types of estimate usage the actual price of a previous, comparable project as the basis for estimating the cost of the present project? Analogous approximates 23. Analogous estimates are also known as estimates. top-down 24. Which of the adhering to is true of analogous estimates? They are the majority of trustworthy when previous projects are comparable in fact with present jobs. 25. A price estimation tool which entails estimating individual work-related items or tasks and also summing them to gain a project complete is known as a(n) estimate. bottom-up 26. Which of the following is true of bottom-up estimates? They are time-extensive and also expensive to estimating.build. 27. offers job features in a mathematical design to estimate project costs. Parametric estimating 28. Which of the adhering to is the majority of most likely to be a factor for inaccuracies in indevelopment technology price estimates? People absence estimating endure. 29. If the expense estimate for a task is a basis for contract awards and also performance reporting, it should be a(n) estimate and as accurate as feasible. definitive 30. The main goal of the process is to develop a cost baseline for measuring project performance and project funding requirements. price planning 31. Which of the following is an output of the process of managing costs? Cost forecasts Which of the adhering to is an input of the procedure of managing costs? Work performance data 32. The budgain is just one of the 3 values of earned worth monitoring and also is also recognized as . planned worth 33. Which of the complying with is true of earned value? It is an estimate of the value of the physical work actually completed. Variances are calculated by subtracting the actual cost from earned value 34. Cost variance is: the earned worth minus the actual expense. Schedule variance is the earned value minus the planned value. The price performance index (CPI): have the right to be supplied to estimate the projected expense 35. a. Which of the following is true of the schedule performance index (SPI)? It have the right to be provided to estimate the projected time to complete the task. Chapter 8 Project Management Quality TRUE/FALSE 1. The high quality assurance procedure requires taking responsibility for quality throughout the project’s life cycle. - TRUE 2. Validated alters and also validated deliverables are the outputs of the top quality assurance procedure. TRUE(?) 3. The design of experiments technique cannot be used to project administration issues such as price and also schedule trade-offs. - FALSE Customer demands are an essential facet of the top quality planning procedure. - FALSE 4. Relicapacity is the ability of a product or company to percreate as meant under deviant problems. - FALSE 5. Project supervisors are ultimately responsible for top quality monitoring on their projects. - TRUE 6. Only in-home auditors have the right to percreate high quality audits. - FALSE 7. Products that are welcomed by task stakeholders are taken into consideration to be validated deliverables. - TRUE 8. A run chart is a bar graph that depicts data points and also their order of event. - FALSE 9. Using Six Sigma values is an organization-wide commitment and also all employees should embrace its values. - TRUE 10. The Six Sigma strategy functions finest for a project wright here a quality trouble is figured out in between the existing and desired performance.- TRUE 11. The term sigma meansmedian. - FALSE 12. Testing as a stage is necessary just at the end of an indevelopment modern technology product advance. FALSE 13. Integration trial and error requires testing of each individual component to encertain that it is as defect-complimentary as possible. - FALSE 14. In TQC, product quality is even more essential than production prices, and workers are permitted to soptimal manufacturing whenever a high quality problem occurs. - TRUE 15. DeMarco and Lister’s study on institutions and productivity uncovered direct corconnections in between efficiency and programming language, years of experience, and also salary. - FALSE 16. Gantt charts cannot be provided to help job quality monitoring. - FALSE MULTIPLE CHOICE 1.suggests the project’s procedures and also commodities fulfill created specifications. Conformance to requirements 2. suggests that a product can be provided as it was intended. Fitness for usage 3. Process improvement setup, quality metrics, and also top quality checklists are the outputs of the procedure of job quality monitoring. planning quality monitoring 4. A ___ is a conventional of measurement in quality monitoring. metric 5. The____process is regularly associated with the technological devices and methods of top quality monitoring, such as Pareto charts, top quality control charts, and statistical sampling. top quality manage 6. Perdeveloping top quality assurance is a subprocedure of the process of task quality administration. executing 7. Validated changes and validated deliverables are the outputs of the quality monitoring. security and also subprocess of project regulating 8.is an approach that helps recognize which variables have actually the many affect on the all at once outcome of a procedure. Deauthorize of experiments 9.____is the level to which a system perdevelops its intfinished attribute. Functionality 10._____are the system’s distinct qualities that appeal to users. Features 11.____addresses just how well a product or company percreates the customer’s intfinished usage. Performance 12.______is the ability of a product or business to perdevelop as supposed under normal problems. Relicapability 13._____addresses the ease of performing maintenance on a product. Maintaincapability 14._____geneprices concepts for high quality improvements by comparing particular job techniques or product features to those of various other tasks or assets within or outside the performing organization. Benchnoting 15.___describes activity taken to lug rejected items into compliance via product demands or specifications or other stakeholder expectations. Rework-related 16.____correct(s) or prevent(s) further quality difficulties based upon quality regulate measurements. Process adjustments 17. A _____is a graphic display of information that illustprices the results of a process over time. control chart 18.____assist customers to identify the vital few contributors that account for most quality problems in a device. Pareto charts 19. involves selecting component of a populace of interest for inspection. Statistical sampling 20. Six Sigma’s tarobtain for perfection is the accomplishment of no more than mistake per million opportunities. defects, errors, or 3.4 21. Projects that use Six Sigma values for high quality regulate normally follow a five-phase development procedure dubbed DMAIC 22. Important devices used in the phase of the DMAIC procedure incorporate a task charter, a description of customer needs, procedure maps, and also Voice of the Customer (VOC) data. specify 23. An necessary tool provided in the diagram. analyze phase of the DMAIC procedure is the fishbone or Ishikawa 24. A is a bell-shaped curve that is symmetrical about the average value of the populace (the data being analyzed). normal circulation 25. A(n) is any type of instance where the product or company stops working to satisfy customer requirements. defect 26. The is a measure of high quality regulate equal to 1 fault in 1 million avenues problems. six 9s of top quality rule 27. A(n) is done to test each individual component (regularly a program) to ensure that it is as defect-complimentary as possible. unit test 28. mechanism. is an independent test performed by finish users prior to accepting the delivered User acceptance trial and error 29. Which of the adhering to is just one of Deming’s 14 Points for Management? Eliminate the yearly rating or merit device. 30. One of Juran’s ten steps to quality improvement claims that: an company should construct awareness of the need and also opportunity for improvement 31. composed Quality Is Free in 1979 and also is finest known for saying that organizations strive for zero defects. Crosby 32. , a high quality mechanism typical is a three-part, continuous cycle of planning, regulating, and documenting high quality in an organization. b. ISO 9000 33. is the cost of evaluating procedures and their outputs to encertain that a job is error-complimentary or within an acceptable error variety. Appraisal cost 34. is a price that relates to all errors not detected and not corrected prior to distribution to the customer. External faientice expense 35. helps integrate traditionally separate organizational attributes, set procedure innovation purposes and priorities, administer guidance for high quality processes, and also carry out a allude of recommendation for appraising current processes. CMMI Chapter 9: Project Person Reresource Management TRUE/FALSE Extrinsic catalyst reasons civilization to get involved in an task for their own enjoyment. FALSE 37. Maslow’s pecking order of requirements claims that people’s habits are guided or encouraged by a sequence of needs. TRUE 38. Masluggish suggests that each level of the pecking order of demands is not necessarily a prerequisite for the levels over. - FALSE 39. According to Herzberg, hygiene components such as bigger salaries, more supervision, or an extra attrenergetic work atmosphere would motivate workers to do more if current. - FALSE 40. People who require institutional power or social power desire to organize others to better the goals of the organization. TRUE 41. Managers who think in Theory Y assume that workers disfavor and also avoid work-related if feasible, so managers need to usage coercion, dangers, and also miscellaneous manage schemes to acquire workers to make adequate initiatives to fulfill goals. - FALSE 42. Assignment, budobtain, promotion, money, and also penalty influence bases are instantly obtainable to task managers as part of their position. - FALSE 43. Thamhain and also Wilemon found that as soon as project supervisors provided work difficulty and specialization to influence people, tasks were even more likely to succeed. TRUE 44. Legitimate power involves using personal understanding and specialization to get people to change their habits. - FALSE 45. According to Covey, task supervisors must usage a win/shed strategy in making decisions. FALSE 46. A responsibility assignment matrix (RAM) is a matrix that maps the work-related of the job as defined in the OBS to the people responsible for performing the occupational as described in the WBS. FALSE 47. A RAM is used just to asauthorize detailed work activities. - FALSE 48. A staffing management plan describes when and exactly how people will be added to and also taken off the project team. TRUE 49. Resource leveling outcomes in fewer difficulties for job personnel and audit departments. TRUE 50. In the Tuckmale version, storming occurs when team members have different opinions for how the team need to run. TRUE 36. The initially dimension of mental type in the MBTI signifies whether civilization draw their energy from other human being (extroverts) or from inside themselves (introverts). TRUE 52. In the Social Styles Profile team structure activity, motorists are reactive and also people-oriented. -FALSE 53. The forcing mode is one in which the task manager deemphasizes or avoids locations of distinctions and also emphasizes areas of agreement. - FALSE 54. Project managers must try to prevent problem at all costs as all problem within teams is poor. 20. Microsoft Project 2010 does not lfinish itself to task human reresource management. - FALSE 51. MULTIPLE CHOICE 1. entails assigning the necessary personnel to occupational on the task. c. Acquiring the job team 2. Key outputs of procedure are job staff assignments, reresource calendars, and also project monitoring plan updates. b. acquiring the project team 3. b. requires structure individual and group abilities to boost job performance. Developing the project team 4. The major outputs of the procedure are team performance assessments and also enterprise eco-friendly factors updates. c. emerging the task team 5. timely entails tracking team member performance, motivating team members, giving feedback, reresolving problems and also conflicts, and also coordinating alters to aid enhance job performance. d. Managing the job team 6. The obtaining of the task team is a subprocedure associated through the human process of project reresource monitoring. a.executing 7. a extremely respected psychologist, rejected the dehumanizing negativism of psychology and proposed the hierarchy of demands theory. b. Abraham Masluggish 8. At the bottom of Maslow’s framework are needs. c. physiological 9. is at the top of Maslow’s pecking order of demands. b. Self-actualization 10. of Recognizing an employee as the “Star Perprevious of the Month” would be satisfying the need the Maslow’s hierarchy of requirements. a. esteem 11. The bottom 4 needs in Maslow’s structure are referred to as b. deficiency 12. The highest level of demands in Maslow’s framework is referred to as a b. development requirements. require. 13. is best known for distinguishing in between motivational factors and also hygiene factors as soon as considering impetus in occupational settings. a. Frederick Herzberg 14. According to Herzberg, which of the complying with is a motivational factor? a. Recognition 15. People through a high need for look for to excel and also tend to prevent both low-danger and high-danger instances to improve their chances for achieving something worthwhile. success 16. According to McClelland’s acquired-requirements theory, human being with a high need for desire harmonious relationships with other people and have to feel welcomed by others. a. affiliation 17. According to McClelland’s acquired-demands theory, people that require personal desire to straight others and also can be seen as bossy. c. power 18. The presents topics through a series of ambiguous pictures and asks them to construct a spontaneous story for each picture, assuming they will certainly task their very own needs right into the story. c. TAT 19. d. is finest known for emerging Theory X and Theory Y. Douglas McGregor 20. Managers that follow assume that the average worker wants to be directed and pdescribes avoid duty. b. Theory X 21. emphasizes things such as task rotation, expanding of skills, generalization versus specialization, and the require for continuous training of employees. d. Theory Z 22. According to Thamhain and also Wilemon, orders. a. authority 23. According to Thamhain and Wilemon, d. promovement 24. points they is the legitimate hierarchical best to concern is the capability to enhance a worker’s place. entails utilizing punishment, dangers, or other negative viewpoints to get human being to do do not want to execute. b. 25. c. Coercive power entails utilizing incentives to induce civilization to do things. Reward power is based on an individual’s individual charisma. 26. d. Referent power 27. refers to matching certain actions of the other perboy. d. Mirroring 28. The initially action in the structure for defining and also assigning occupational is . c. finalizing the job requirements 29. A(n) is a column chart that reflects the number of sources assigned to a task over time. b. Resource histogram 30. refers to the amount of individual sources an existing schedule needs in the time of specific time durations. a. 31. Resource loading is a method for reresolving reresource problems by delaying jobs. b. Resource leveling 32. team In the Tuckman model, occurs as team members have actually different opinions as to exactly how the have to operate. d. storming 33. than In the Tuckguy version, occurs when the focus is on getting to the team objectives, fairly functioning on team process. a. performing 34. In the MBTI, the d. Sensation/Intuition 35. Psychologist David Merril explains as reenergetic and task-oriented. measurement relates to the manner in which you gather information. c. “Analyticals” 36. According to Blake and also Mouton, project managers who usage the approach use a give-and also take-method to resolving conflicts. d. deteriorate 37. According to Lencioni, which of the adhering to characteristics is present in organizations that succeed? d. Teamjob-related CHAPTER 10: PROJECT COMMUNICATIONS MANAGEMENT MULTIPLE CHOICE 1. entails determining the indevelopment and communications needs of the stakeholders. Planning interactions 2. The output of the procedure is a communications administration setup. planning interactions 3. Managing interactions is component of the administration. process of the job communication executing 4. As a manager, you want to praise a team member, Phil, for doing a great project on a details project. However, you recognize that Phil often tends to be an introvert. Which of the adhering to interaction methods would Phil be most comfortable with? Call Phil in for a personal meeting to appreciate his work. 5. Research has shown that in a face-to-face interactivity, is with body language. percent of indevelopment 58 6. Which of the following approaches of interaction is most likely to be a lot of efficient for conveying sensitive or vital information? Short face-to-challenge meetings 7. As the number of people affiliated in a task , the intricacy of interactions . boosts, rises 8. The formula to recognize the variety of interaction networks is is the number of human being associated. , where n n (n-1)/2 9. Using the formula for calculating the variety of interaction channels, just how many type of networks would two human being require? 1 10. Using the formula for calculating the number of interaction networks, how many kind of networks would five world require? 10 11. A team has actually 10 communication networks in between its assorted members. Using the formula variety of interaction channels = n (n-1)/2, where n is the variety of people in the team, the team has actually members. 5 12. Which of the adhering to is true of a job interactions plan? The interactions setup must be component of the in its entirety job management setup. 13. An instance of push communication is . voice mails 14. An instance of pull communication is . blogs 15. Which of the following is true of press communication? Indevelopment is sent out to recipients without their research. 16. Which of the adhering to interaction methods would certainly be most proper for assessing the commitment of job stakeholders? Meetings 17. According to the guidelines offered by Practical Communications, Inc., a(n) tool that is a is “excellent” for encouraging imaginative thinking. e-mail 18. According to the guidelines provided by Practical Communications, Inc., a(n) the most is appropriate medium for offering complex instructions. meeting 19. According to the guidelines gave by Practical Communications, Inc., a(n) the many is inappropriate tool for addressing negative habits. meeting 20. purposes. resolve wright here the project stands in regards to meeting scope, time, and cost Status reports 21. define where the task stands at a particular allude in time. Status reports 22. explain what the job team has accomplished during a details period. Progress reports 23. patterns. predict future job condition and progression based upon previous information and also Forecasts 24. Which of the following concerns is typically addressed by a project forecast? How a lot more money will be required to complete the job 25. E-mail communication is the majority of suited for: interacting regimen indevelopment 26. A(n) Internet page is a Internet website that allows anyone who accesses it to contribute or modify content. wiki 27. The the e-mail. line for any type of e-mail messages you create need to plainly state the intention of subject 28. Which of the adhering to is a tip that task managers must follow as soon as communicating via their teams with e-mail? If the whole message can fit in the topic line, put it tright here. 29. The items discussed in a(n) encompass reflections on whether project goals were met, whether the task prospered or not, the causes of variances on the job, the reasoning behind corrective actions liked, the use of different task monitoring devices and also techniques, and individual words of wisdom based upon team members’ experiences. lessons-learned report 30. are a complete set of organized task records that administer an accurate background of the task. a. Project archives CHAPTER 11: PROJECT RISK MANAGEMENT MULTIPLE CHOICE 1. Risk utility rises at a decreasing price for a perboy. risk-averse 2. Those who are once more payoff is at stake. risk-seeking have actually a higher tolerance for risk, and their satisfactivity rises 3. A perchild achieves a balance in between danger and payoff. risk-neutral 4. entails deciding exactly how to approach and also arrangement the danger management activities for the task. Planning danger monitoring 5. involves determining which dangers are most likely to affect a task and documenting the qualities of each. Identifying threats 6. entails prioritizing risks based on their probability and affect of occurrence. Performing qualitative risk evaluation 7. entails numerically estimating the results of risks on job objectives. Perdeveloping quantitative hazard evaluation 8. involves taking steps to improve methods and also reduce dangers to meeting task objectives. Planning risk responses 9. entails monitoring established and also residual threats, identifying new dangers, transferring out danger response plans, and also evaluating the performance of threat techniques throughout the life of the task. Controlling threat 10. Identifying risks is a subprocess of the procedure of job risk monitoring. planning 11. Percreating qualitative and also quantitative danger analyses are subprocesses of the procedure of job hazard management. planning 12. are precharacterized actions that the task team will certainly take if an identified hazard occasion occurs. Contingency plans 13. Unenforceable problems or contract clasupplies and adversarial relationships are threat problems linked with the job administration knowledge location. procurement 14. is a fact-finding technique that can be provided for collecting indevelopment in faceto-confront, phone, e-mail, or instant-messaging discussions. Interviewing 15. A(n) decisions, represents decision troubles by displaying essential facets, consisting of uncertainties, causality, and also missions, and also how they affect each other. influence diagram 16. The lists the loved one probability of a hazard emerging and also the loved one impact of the danger developing. probability/influence matrix 17. are/is a qualitative threat evaluation tool that maintains an awareness of dangers throughout the life of a task in enhancement to identifying threats. Top Ten Risk Item Tracking 18. A(n) activity in is a diagramming evaluation technique used to aid pick the best course of cases in which future outcomes are unspecific. decision tree 19. analysis simulates a model’s outcome many type of times to provide a statistical circulation of the calculated results. Monte Carlo 20. What is the initially action in a Monte Carlo analysis? Assess the array for the variables being considered. 21. A is an approach offered to show the effects of altering one or more variables on a result. sensitivity analysis 22. entails eliminating a particular threat, typically by eliminating its reasons. Risk avoidance 23. involves changing the consequence of a risk and duty for its administration to a third party. Risk transference 24. requires reducing the impact of a hazard event by reducing the probability of its incident. Risk mitigation 25. involves doing whatever you can to make sure the positive hazard happens. Risk exploitation 26. requires allocating ownership of the threat to an additional party. Risk sharing 27. entails altering the dimension of the opportunity by identifying and also maximizing crucial vehicle drivers of the positive threat. Risk enhancement 28. applies to positive risks once the project team cannot or chooses not to take any type of actions toward a danger. Risk acceptance 29. threats describe those that are direct outcomes of implementing danger responses. Secondary 30. are unplanned responses to danger occasions provided when task groups carry out not have contingency plans in area. Workarounds Chapter 12: Project Procurement Management MULTIPLE CHOICE 1. “A shortage of qualified personnel is among the major reason that suppliers outresource. A job might require experts in a specific area for a number of months and planning for this procurement ensures that the needed solutions will certainly be obtainable for the job.” Which of the following benefits does this characteristic of outsourcing administer an organization? Provides accessibility to certain skills 2. Outsourcing suppliers have the right to often carry out economic situations of range, specifically for hardware and also software program, that might not be accessible to the client alone. Which of the adhering to benefits does this market an organization? Reduction in addressed and represent prices 3. “Many establishments are not in business to carry out information modern technology services, yet many kind of have spent helpful time and also sources on indevelopment modern technology attributes once they have to have instead worked on essential competencies such as marketing, customer business, and new product design. Outsourcing helps tackle this trouble.” Which of the complying with benefits does outsourcing primarily provide in such a scenario? Helps focus on an organization’s core business 4. “Outsourcing to administer extra workers in the time of durations of top worktons can be a lot more economical than trying to fill entire projects through interior sources.” Which of the following advantages does this characteristic of outsourcing provide organizations? Provides a agency versatility in staffing 5. A drawago of outsourcing is that: it deserve to make an organization come to be overly dependent on particular carriers. 6. The initially step in project procurement monitoring is: planning procurement management. 7. In project procurement administration, the procedure of requires determining what to procure, when, and also how. planning procurement administration 8. In task procurement administration, the procedure of entails obtaining seller responses, choosing sellers, and awarding contracts. a. conducting procurements 9. Outputs of the procedure consist of selected sellers and also reresource calendars. conducting procurements 10. Which of the complying with procedures of task procurement management requires managing relationships via sellers, monitoring contract performance, and also making transforms as needed? Controlling procurements 11. In project procurement management, which of the adhering to processes involve completion and also negotiation of each contract, consisting of resolution of any type of open up items? Closing procurements 12. The procurement statements of occupational are an output of the procedure of job procurement management. planning 13. the In job procurement administration, the procedure of conducting procurements is component of procedure. executing 14. In project procurement management, which of the complying with is an output of the executing process? Reresource calendars 15. In job procurement administration, an output of the monitoring and regulating procedure. Change repursuits 16. Which of the complying with is true of lump-sum contracts? b. They involve a solved complete price for a well-identified product or service. contracts. 17. contracts involve payment to the supplier for direct and instraight actual prices and regularly encompass fees. c. Cost-reimbursable contracts 18. In a(n) contract, the buyer pays the supplier for allowable performance expenses in addition to a predetermined fee and an inspiration bonus. CPIF 19. With a(n) contract, the buyer pays the supplier for allowable performance prices plus a resolved fee payment generally based on a percentage of estimated expenses. CPFF 20. In which of the following contracts does the buyer pay the supplier for allowable performance prices along with a preidentified portion based upon complete costs? CPPC 21. From the buyer’s perspective, the supplier is the least preferable among all contracts because the has actually no incentive to decrease costs. CPPC 22. A(n) contract carries the leastern hazard for service providers. The is a description of the occupational forced for a procurement. A(n) is a record supplied to solicit proposals from prospective companies. CPPC 23. SOW 24. RFP 25. A document used to solicit quotes or bids from prospective providers is recognized as a(n) . RFQ 26. After planning for procurement monitoring, which of the adhering to does the next procedure involve? d. Sfinishing appropriate documentation to job-related potential sellers 27. In project procurement management, which of the adhering to is just one of the main outputs of the conducting procurement process? A schosen seller 28. The procedure of choosing providers or sellers is well-known as . resource selection 29. Which of the adhering to is an output of the contract clocertain process? Updates to business process assets