Question

1. ____ Your project has several phases. One of these phases is not planned in detail and will be planned later when more information becomes available. This technique is called:
   1. Incomplete schedule
   2. Delphi technique
   3. Parametric planning
   4. Rolling wave planning
2. ____ The responsibility assignment matrix (RAM) is used to:
   1. Display the connection between the project team members and the work that needs to be done
   2. Display the reporting relationships among the project team members
   3. Develop a WBS
   4. Assign only the managerial responsibilities for the project

3. ____ All of the following are the project risk management processes except:
   1. Risk identification
   2. Risk auditing
   3. Qualitative risk analysis
   4. Risk monitoring and control
4. _____ The contingent response strategy is a response strategy for:
   1. Positive risks
   2. Negative risks
   3. Both positive and negative risks
   4. Neither positive no negative risks
5. _____ All of the following are correct statements about risk analysis except:
   1. Qualitative risk analysis is usually performed before quantitative risk analysis
   2. Updated risk register is the output of both risk analysis and quantitative risk analysis
   3. Quantitative risk analysis can only be performed on the risks on which the qualitative risk analysis has already been performed
   4. Risk register is an input to both the qualitative risk analysis and quantities risk analysis

6. ______The customer called a project team member to request a change in the project schedule. The team member asks you what the procedure is for handling schedule changes. Where should you refer the team member to help him understand the procedure?
   1. The project office
   2. The change control board
   3. The schedule management plan
   4. Inform the team member that the customer is always right
7. ______ If you were creating duration estimates for a schedule activity, which of the following tools or techniques would NOT be appropriate to use?
   1. Expert judgment
   2. Reserve analysis
   3. Three-point estimating
   4. Lease squares estimating
8. ______ Senior management has called you in for a meeting to review the progress of your project. You have been allocated 15 minutes to report progress and discuss critical issues. Which of the following would be the BEST to carry with you in this case?
   1. Milestone chart
   2. The project network diagram
   3. An expert from each functional area of the project so that all questions may be answered
9. ______ If senior management tells you “the last project we did like this cost us almost five million dollars” what estimating method is being used?
   1. Delphi technique
   2. Principle of equivalency of activities
   3. Analogous estimating
   4. Bottom-up estimating
   5. Risk monitoring and control

Answer 1

1. Ans. d) Rolling wave planning

Rolling wave planning is planning done as the project proceeds when the underlying assumptions and risks become more clear.

2. Ans. c) Develop a WBS

Work Breakdown Structure or WBS breaks down the entire project into smaller components as manageable sections. it assigns the roles and responsibility of every individual in order to accomplish a given project or task.

3. Ans. b) Risk auditing

The processes involved in project risk management are : Identifying, Analysing, Prioritize, Ownership, Responding and Monitoring. Auditing is not a part of Project risk management.

4. Ans. c) Both positive and negative risks

Contingent response strategy is planned for emergency condition both for positive and negative risks. Response Strategy for negative risks are : Avoid, Mitigate, or Retain.

Response strategy for positive risks are : Share, Accept or Enhance.