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It is said that to be successful in project management, a project manager must have a number of key competencies, skills, and abilities. Of the following, ______ is the project management competency that relates to a PM?s ability to project the sense that s/he is in command of the project.

a. tolerant under stress
b. able to communicate clearly, concisely, and frequently c. politically skilled
d. proactive

A variation of the fixed price contract, the ______ contract type allows a client to commit to a fixed price for a pre-specified component of work, and the final payment is based on the number of components produced by the contractor.

a. fixed price
b. time and materials (T&M) c. cost plus
d. units

A fixed price contract is typically used for ______.

projects in which the scope of the project is well-defined and the resulting quality can be measured objectively

projects in which the scope of the project is ill-defied and there is ambiguity in how quality will be measured

c. agile or other adaptive project environments
d. waterfall or other predictive project environments

Of the following, ______ is NOT a project closure activity. a. secure formal acceptance (e.g., client/sponsor sign-off) b. soliciting project task duration estimates
c. close out all open subcontracts and purchase orders

d. transition remaining resources from project

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Most real-world projects are ______. a. centralized
b. internal
c. governmental

d. decentralized

Also known as earned value management, ______ is a methodology used to assess performance in ongoing tasks and projects.

a. earned value analysis
b. earned cost analysis
c. actual cost of work performed d. planned value

The process of continuous monitoring and correcting when common cause (as opposed to special cause) variations present represents ______ and will result in ______.

a. good project management; exceeding deadlines b. overcorrecting; project efficiencies
c. monitoring and controlling; cost underruns
d. tampering; project delays

Assume an organization has two projects, Project A and Project B. Each project requires the completion of four tasks that have the same expected duration. Both Projects A and B can start at the same time. Assume the same project team must complete all four tasks in each project, and the team can only work on one task at a time. By weighting the projects equally and multitasking so progress on both projects is approximately equal (that is, the project team would work on task A-1 then B-1; A- 2 then B-2, etc. until both projects are completed), the organization is taking the ______ approach.

a. phased b. prioritized c. gated
d. global

Expressed as the ratio of schedule variance (SV) to the ratio of budget at completion (BAC) to schedule to completion (SAC), ______ variance is the difference between the estimated and actual time for a task to be completed.

a. total

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b. schedule c. time
d. cost

10. Also known as a cost-reimbursable contract, in the ______ contract type, of which there are several variations, the client reimburses the contractor for some (or all) of the audited costs (e.g., labor, materials, etc.) when the contractor?s work is completed.

a. fixed price
b. time and materials (T&M) c. cost plus
d. units

11. Earned value analysis (EVA) is built on many assumptions. One limitation of EVA is that it is frequently based on the assumption that resource utilization is ______ throughout the life of a task, which is not always realistic.

a. uniform b. variable c. unreliable d. sporadic

12. A fixed price contract places all risks associated with the work on the ______. a. client

b. contractor(s) or subcontractor(s) c. attorneys who wrote the contract d. insurer

13. A cost plus contract with incentives places most of the project risk on the ______. a. insurer

b. contractor(s) or subcontractor(s) c. attorneys who wrote the contract d. client

14. In the ______, a fixed duration and budget is specified, but the scope of the project is only generally indicated; scope is not required as part of the contract.

a. optional scope contract

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b. cost plus contract with a fixed fee c. fixed price contract
d. unclear scope contract

15. The ______ contract type assumes the contractor will operate or maintain the completed project for a specified time following the completion of the project.

a. performance-based
b. time and materials (T&M) c. fixed price
d. maintenance

16. In ______, the client may be required to pay a contractor an amount equal to a defined bonus or penalty.

a. cost plus contract with a fixed fee b. incentive contract
c. fixed price contract
d. cost plus contract with incentives

17. According to E. Edwards Deming, treating common cause variation as if it were special cause variation is called ______, and it will always ______ the performance of a system.

a. tampering; enhance
b. tampering; degrade
c. overcorrecting; enhance d. overcorrecting; degrade

18. When the same resources are needed for more than one project, they are considered to be ______ resources.

a. shared b. half-time c. portfolio d. program

19. A contractor?s response to an RFP typically includes all four project dimensions: time, cost, scope, and quality. As a result, a client will not necessarily accept the ______.

a. first bid received

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b. bid with the lowest cost
c. bid from the contractor that?s most experienced d. bid if it?s received after the due date

20. In a ______ project, independent organizations complete various parts of the project. a. centralized
b. internal
c. decentralized

d. governmental

21. It is said that to be successful in project management, a project manager must have a number of key competencies, skills, and abilities. Of the following, ______ is the project management competency that relates to a PM?s ability to perceive all of the relationships and interconnections in the project content, project team, project organization, and the organization?s environment.

a. proactive
b. of high personal integrity c. tolerant under stress
d. a systems thinker

22. Once a project is underway, the goal of any control system is to help managers determine ______.

a. whether adjustments need to be made to any of the project?s dimensions (i.e. cost, schedule, scope, or quality)

b. what the contingency reserves are for the project
c. who the project sponsor is
d. which project tasks will be outsourced and which tasks will be performed in-house

23. Also known as the cost-schedule index (CSI), ______ is defined as the product of the schedule index (SI) and cost index (CI):

a. cost index (CI)
b. schedule index (SI)
c. critical ratio
d. cost-schedule index (CSI)

24. A variation of the cost plus contract, in the cost ______ contract type, client pays the contractor for all of the audited and approved costs incurred plus a fixed fee that is negotiated at the beginning of the project.

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a. reimbursable contract
b. plus contract with percentage c. plus contract with a fixed fee d. plus contract with incentives

25. Failure to take corrective actions in light of special cause variations will likely ______.

have no damaging effects on the project; corrective actions are not needed for special cause variations

result in project efficiencies

c. result in future task delays and/or project failures
d. have a significant impact on the ability to finish the project on time

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