Financial markets homework help

1) The structure that manages projects within the existing organizational structure is __________ organization.
Project
Balanced matrix
Functional
Strong matrix
Weak matrix
2) A series of coordinated, related, multiple projects that continue over extended time intended to achieve a goal is known as a:
Crusade

Program

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Campaign

Venture

Strategy
3) Adverse weather, design flaws, and equipment breakdown can create negative slack. This is an example of reducing project duration caused by:
High overhead

Unforeseen project delays

Imposed project deadlines

Time to market

Incentive contracts
4) The project communication plan contains
Project team vacation schedule

Unapproved change requests

A list of reports to be distributed

An assessment of project risks

Detailed task assignments
5) In which of the following theories does the project group transition from a lower level to a higher level of performance about halfway through the project?
Five Stage Team Development Model

Nominal Group Technique

Synergistic Transition Development Model

Dysfunctional Transition Model

Punctuated Equilibrium Model of Group Development
6) In a resource-constrained project, which of the following is most likely to be changed?
Project quality

The budget

The completion date
7) American project managers have earned a reputation abroad for being very good at understanding technology but not good at understanding:
People

Cultures

Local traditions

Local business practices

Laws
8) _________ organization is a hybrid form in which a horizontal project management structure is overlaid in the normal functional hierarchy.
Functional

Project

Matrix

Balanced
9) The lowest element in the hierarchical breakdown of the WBS is
A work package

A cost account

An object

A lowest sub deliverable

A deliverable
10) A project budget report is showing our project as spending $35,000 against a budgeted amount of $40,000. What does this report tell you about the project?
We are doing a good job managing the project

We are spending less than we should for the project

We should check to see if all the bills have been paid

We can’t be sure how the project is going
11) The project communication plan is usually created by
Team Member

Department Manager

Project Stakeholder

Project Sponsor

Project Manager
12) In which of the following stages is a major portion of the physical and mental project work performed?
Delivering

Planning

Defining

Executing

Conceptualizing
13) If the Project Manager needs additional resources for the project, he/she should seek approval from
Project Stakeholder

Project Sponsor

Project Team

Functional Manager

CEO
14) During the last two phases of a project’s life cycle, the most significant source of conflict is:
Costs

Priorities

Schedules

Technical

Procedures
15) The earned value of a project is the:
Total project cost to date

Project cost to date adjusted for project scope changes

Percent of the original budget that has been earned by actual work

Cost incurred minus the planned cost
16) Project leadership is about coping with:
Monitoring results against plans

Formulating plans and objectives

Change

Taking corrective action when necessary
17) The final step in the creation of a Work Breakdown Structure is to

18) Develop the responsibility matrix
Develop the responsibility matrix

Assign the cost account to a manager

Code the WBS for tracking

Assign the work package to a manager

19) The first step in the project control process of the measurement and evaluation of project performance is to
Determine the project objectives

Review the project priority matrix

Analyze the project budget

Set a baseline plan

Determine the project deliverables

20) Two of the biggest challenges involved in managing a virtual project team are:
Time management and developing trust

The language barriers and time management

Developing trust and effective patterns of communication

The language barriers and developing effective patterns of communication

Time management and developing effective patterns of communication

21) The centralized management of projects to ensure that the allocation of resources to projects is directed toward projects that contribute the greatest value to organization goals is known as:
Resource Allocation Optimization

Project Priority Matrix Management

Portfolio Project Management

Project Management Optimization

Project Office Management

22) Sam the project engineer has been scheduled to run the product system test at the same time he is to build a marketing prototype. This is an example of a ______ constraint.
Physical

Scheduling

Technical

Resource

Time
23) Small refinements to the project that eventually build to be major changes are known as:
Continuous improvements

Specification adjustments

Scope creep

Specification refinements

Project erosion
24) Which of the following is considered a project indirect cost
Supervision

Equipment

Materials

Labor
25) From among the following activities, which is the best example of a project?
Producing automobiles

Writing a term paper

Completing a college degree

Processing insurance claims

26) To construct a high-quality, custom home within five months at costs not to exceed $150,000 is best classified as
A deliverable

A limit

An objective

An exclusion

A milestone
27) Audits are least likely to occur

When major milestones are reached
At identified spending level points
During specific stages in the project life cycle
When they are unplanned
28) Project Communication Plans address all the following core questions except:
*
How will the project team be rewarded?*
*
What information will be communicated?
*
How will information be communicated?
*
Who will receive the information?
*
When will the information be communicated?
29) Communications difficulties because of different languages, social standards, and religious views are examples of which of the following environmental factors?
Cultural

Geographic

Security

Infrastructure

Legal/political

30) Which of the following is considered a project direct cost?
Supervision

Equipment

Interest

Consultants
31) If resources are not adequate to meet peak demands, the resulting reschedule is termed
Project resource adjustment

Resource-constrained scheduling

Bottleneck adjustment

Mandatory leveling

Time-constrained scheduling
32) Which of the following requires more management rather than leadership?
Taking corrective action

Changes in project scope

Breakdowns in coordination between people

MTechnological stalemates
33) In which of the following stages is it determined what the project will entail, when it will be scheduled, whom it will benefit, and what the budget will be?
Defining

Executing

Delivering

Conceptualizing

Planning
34) In reviewing the project plan, Susan sees that the first prototype is due by October 12. This would be best classified as a
Critical goal

Project objective

Limit item

Milestone

Project target
35) The most common response for meeting unattainable deadlines is to:
Implement the fast-tracking system

Fire the project manager

Hire more people

Shift to the critical chain

Reduce or scale back the scope of the project
36) The process of forecasting or approximating the time and cost of completing project deliverables is called
Planning

Predicting

Budgeting

Guesstimating

Estimating
37) A typical expectation in actual practice is that estimates should have a probability of being met ______ of the time.

95%

80%

98%

100%

90%
38) The last step in the Change Control Management process is

Negotiate and resolve conflicts

Formally disapprove changes

Track all changes that are to be implemented

Change the project schedule

Lodge a complaint
39) The most common response for meeting unattainable deadlines is to:
Reduce or scale back the scope of the project

Implement the fast-tracking system

Fire the project manager

Hire more people

Shift to the critical chain
40) In which of the following stages are project objectives established, teams formed, and major responsibilities assigned?
Defining

Delivering

Executing

Conceptualizing

Planning
41) Needs for a project could include telecommunications, transportation, power, and availability of technically skilled talent. This is an example of which of the following environmental factors?

Cultural

Economic

Geographic

Infrastructure

Legal/political
42) The method most frequently used in measuring project progress is the
75/25 percent rule

Percent complete rule

0/100 percent rule

50/50 percent rule

25/75 percent rule
43) A good benchmark to use as a time limit for conducting a project audit is
One week

Two weeks

One month

One day

Two months
44) Corrective actions that should take place would typically appear in the _____ section of the audit report.
Strategic objectives

Lessons learned

Analysis

Classification of project

Recommendations
45) The person responsible for tracking approved changes to the project is
Project Manager

Project Requestor

Project Team Member

Project Stakeholder

Project Sponsor
46) The project is running behind schedule, the best thing for the project manager to do is
Take corrective action

Apply for a transfer

Produce a Gantt Chart

Hire more resources
47) The method used to collect information to use through all phases of the project life cycle is called
Work breakdown structure

Organization breakdown structure

Priority matrix

Responsibility matrix

Work package
48) Which of the following is the easiest method for shortening project time?
Subcontract work

Reduce project scope

Schedule overtime

Reduce the quality

Assigning additional staff and equipment
49) In which of the following is the balance of authority strongly in favor of the functional managers?
Balanced matrix

Weak

Strong matrix

Strong
50) Which of the following is commonly associated with high-performing project teams?
A degree of competition among team members is encouraged

Roles and specific responsibilities are well-defined

Mistakes are viewed as opportunities for learning

Risk taking is controlled and not allowed to jeopardize the overall project

51) The first step of project scope definition is to
Define the overall objective to meet the customer’s needs

Meet with team members

Analyze the current budget plan

Select team members

Analyze the strategic plan
52) In reviewing the project plan, Susan sees that the first prototype is due by October 12. This would be best classified as a
Limit item

Critical goal

Project objective

Project target

Milestone

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