Question

1 Which statement describes best why you should document assumptions?

a Assumptions might prove to be wrong. Knowing which assumptions were incorrect allows baseline adjustments in case of project crisis.

b Assumption analysis is a valuable tool and technique to explore the validity of assumptions during risk identification.

c Assumptions limit the project management team's options for decision making because they can not be controlled by the team.

d In case of schedule or budget overruns, the documentation of assumptions supports a clear assignment of responsibility.

2 Which is normally not regarded as an element of cost of quality?

a Prevention costs

b Maintenance cost

c Appraisal costs

d Failure costs

3 You have recently been assigned as a project manager to a new B-O-T (build, operate, transfer)capital project. Reviewing the initial documentation you found out that it has been calculated with a very small margin during operations of its product for the shareholders. What should you do?

a As you are not responsible for lifecycle costing, you don't have to worry about operation profits. Focus on project costs from initiation through handover.

b Ensure maximum profits by buying the best and cheapest items, components and modules―potentially from a big number of different suppliers―and integrating them.

c Create a realistic plan broken down to a sufficient level of detail. Perform all risk management processes. Ensure real-time communications with all stakeholders.

d Try to get a second project manager assigned to share decision making and accountability to shareholders with the person

4 A project is handled by departments of an organization and expedited by a project coordinator. Which of the following statements is most likely to be true?

a The performing organization is a weak matrix.

b The performing organization is doing "management by projects".

c The performing organization is a strong matrix.

d The performing organization is projectized.

Answer 1

Answer:

1.b Assumption analysis is a valuable tool and technique to explore the validity of assumptions during risk identification.

Explanation:

Assumptions should be documented so that these assumptions can be used at any time of the project in case if any risk occurs these assumption ideas can be used

2.b.Maintainance cost

Explanation:

Quality is rated with increase in prevention and appraisal cost which results in reduction of failure costs

3.c Create a realistic plan broken down to a sufficient level of detail. Perform all risk management processes. Ensure real-time communications with all stakeholders.

Explanation:

Every process right from the start of the project till end is responsible for the project manager so every process should be looked into detail with a realistic plan and every move should be communicated openly to the stakeholders

4.c The performing organization is a strong matrix

Explanation:

Matrix structure allows multiple departments to easily communicate and collaborate on a project