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St. Clair College *

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MISC

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Management

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Feb 20, 2024

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docx

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Q1. Business risks have only a negative outcome? True False Q2. The cost management plan establishes how cost will be managed on the product? True False Q3. All the following are responses to opportunities except Transfer Enhance Exploit Accept Question 4 Which process develops options and actions to enhance opportunities and reduce threats to project objectives? • Identify Risks • Plan Risk Management • Plan Risk Responses • Control Risks Question 5 The risk response strategy in which the project team acts to reduce the probability of occurrence or impact of a risk is known as O avoid • exploit • mitigate • share Question 6

Which process determines the risks that may affect the project and documents their characteristics? • Identify Risks • Control Risks • Plan Risk Responses • Plan Risk Management Question 7 Why is a backlog refinement event usually held around midpoint of the Sprint? O to update the team's vision • to create team norms O to compare user stories to each other O to evaluate what new items have come up Question 8 If you were going to develop a new running shoe using an iterative approach, what would the first iteration of product development look like? • A sandal • A fully developed running shoe • A roller skates • The plans for your running shoe Question 9 Using the Scrum approach, how should your team deliver milestones? • as specific text • as short visuals • as small pieces • as large chucks Question 10 Your agile team is planning out their Sprint. There is a list of dozens of user stories that need to be completed, but the team pulls out four stories that they plan to deliver in the next two-weeks. This is a good example of.

• A work queue • Handoffs • Multitasking • The Penny Game Question 11 What's the best way to describe the cone of uncertainty? • Don't ever try to make decisions when you have a lot of uncertainty • You must make decisions early when you know the least about how things will turn out • You don't have to worry about the consequences if you make good decisions with the information you have • It's easier to make changes when you're closer to the finishing Question 12 In the Agile Manifesto, Scrum values • following a detailed plan • defining all requirements up front • responding to change • adhering to Project Phases Question 13 Gary is the project manager of the HBA Update Project, and his company has hired you as a project management consultant. Gary is confused about the timing of some of the project management processes. He now has a good understanding of the lessons learned purpose, but he's still confused about why you've recommended that the project team participate in the lessons learned documentation, too. Why should a project team complete lessons learned documentation? • To show management what they've accomplished on the project • To help future project teams complete their projects more accurately • To show the project stakeholders what they've accomplished on the project • To ensure project closure Question 14

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You are the project manager for the JGI Project. You have 32 stakeholders on this project. How many communication channels do you have? • Depends on the number of project team members • 32 • 496 1 Question 15 What does it mean that Scrum defines itself as a "framework for empirical process control?" • It means that Serum tries to keep the team from running experiments that might impact the process • Scrum teams try to control every bit of the process through a defined empirical plan • Scrum teams encourage process control through well-defined agile practices • It means that Scrum teams are encouraged to run experiments to improve the product Question 16 Your team has been working on a software project for over a year. The software is behind schedule, so the executives have pressured the managers to try an agile approach. The manager for your team says that there are three project milestones coming up in the next six months. So the manager suggests that they simply rename the three milestones Sprint 1, Sprint 2 and Sprint 3. What's the biggest challenge with this approach? • In Scrum, sprints are usually just two weeks long and these would take several months • It's unlikely that your team will get any benefit from an agile mindset by following existing practices • The most important thing is to follow agile practices, So the team needs to be trained on these practices before making the change • Sprints are just agile milestones, so there's no reason to rename them Question 17

Assessing the probability and consequences of identified risks to the project objectives, assigning a risk score to each risk, and creating a list of prioritized risks describe which of the following processes? • Identify Risks • Plan Risk Management • Perform Qualitative Risk Analysis • Perform Quantitative Risk Analysis Question 18 You are the project manager for the Heart of Texas casual clothing company. Your company is introducing a new line of clothing called Black Sheep Ranch Wear. You will outsource the production of this clothing line to a vendor Your legal department has recommended you use a contract that reimburses the seller's allowable costs and builds in a bonus based on the vendor achieving the performance criteria they've outlined in their memo. Which of the following contract types will you use? • FPIF -Fixed Price Incentive Fee • CPAF - Cost plus award fee • CPIF - Cost plus incentive fee • CPFF - Cost plus fixed fee Question 19 You are managing a government oil bypass project and dealing with several stakeholders. You have spent a significant amount of time identifying all the internal and external stakeholders and documenting their interest, influence, and their key expectations. Managing stakeholder expectations is the responsibility of which key project role? • Project contractor • Senior management • Project manager • Project sponsor Question 20 You are the project manager of the Adams Construction Project. Some of the work in the project contains pure risk that you're not willing to accept. You decide

to mitigate the pure risks in this project. Which of the following may be used as a risk mitigation tool? • The contract • Project requirements • The quotation • The vendor proposal Question 21 You are the project manager of the SRQ City Network Project for your company. You will be managing the selection of several vendors to participate in this process and your project team wants to know when seller selection actually happens. In what process group does the select seller event happen? • initiating • Planning • Executing • Closing Question 22 Developing the project budget is tightly linked to which component of a project management plan? • The schedule • The quality management plan • The known risks • The contracts Question 23 A project manager is managing a high-profile, complex organizational project to replace digital archiving of company records. The project has tight deadlines for completion, along with high quality delivery standards. During a weekly project status review, the project manager learned that a key deliverable was not completed as scheduled becaus the team member assigned to work on it was pulled for another departmental initiative. Who should the project manager meet with to address the issue in this particular situation? • The end user of the product to be delivered • The president of the company • The sponsor

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• The team members Question 24 The process of planning the schedule includes the company culture and infrastructure, the scheduling system, as well as resource availability, published information on productivity data, and any work authorization systems their organization has. These items are formally referred to as • Preferred methodologies . Leading practices • Enterprise environmental factors • Process assets Question 25 Bradiey is the project manager of the Warehouse Remodeling Project for his company. He is in the process of determining which contracts to use in this project. His company is risk-averse, so the correct choice of contract important to Bradley. Of the following contract types, which one requires the seller to assume the risk of cost overruns? • Time and materials • Lump-sum • Cost plus incentive fee • Cost plus fixed fee Question 26 The types and quantities of resources required for each activity in a work package are best described as Resource requirements. Resource Levelling Material resources Budgeted requirements Question 27 Funds that cover unplanned in-scope work are called

• Contingency reserve (as it is in scope) • Management reserve Risk response reserve Risk reserve Question 28 The processes involved in planning, estimating, budgeting, financing, funding, managing, and controlling costs so the project can be completed within the approved budget are all part of • The project manager's contingency tund • The Spend Plan • Project Cost Management • Negotiation techniques Question 29 Benji is the project manager of the PLP Project. He has hired an independent contractor for a portion of the project work. The contractor is billing the project $120 per hour plus materials. This an example of? • Cost plus fixed fee • Time and materials • Unit price • Lump-sum Question 31 A hierarchical representation of resources by category and type is called • A resource breakdown structure • An organizational breakdown structure (OBS) • A staffing plan • A Responsibility Assignment Matrix (RAM) Question 35 Which risk analysis approach requires specialized software? • Both qualitative and quantitative

• Qualitative • Neither qualitative or quantitative • Quantitative Question 36 The process of monitoring and recording results of executing the quality management activities to assess performance and ensure that the project outputs are complete, correct, and meet customer expectations is definition of : • Control Quality • Manage Quality • Assess Quality • Define Quality

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