Gold Final Quiz Attempt-2

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Gold Final Quiz Attempt-2

Quiz

Materials

Download Scenario 1, 2 & 3 from Material Tab.

Examination Procedure

Examination duration : (3) Three Hours – Fixed Time : 10:00 AM – 1:00 PM.
Number of Questions- 32
Question pattern – MCQ with SINGLE CHOICE option based on scenario
Passing score : 60%
Results : Displayed Immediately
Your answers are AUTO SAVED every 5 Seconds
You can mark a question for REVIEW and revisit again
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Examination Format

The candidates will be provided 3 Scenarios. Each question directs to use respective scenario.
Additional information is provided for a few questions, which is clearly stated within the question to which it is relevant. All information provided within a question MUST only be applied to answer those questions.
Scenario – 1, 2 & 3 are available in Materials Tab for download.

001 Post Course Case Study Scenario 1 Main Project for Quiz 2

002 Post Course Case Study Scenario 2 Schedule for Quiz 2

003 Post Course Case Study Scenario 3 Cost for Quiz 2

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Question
1 of 32

Question1
Refer Scenario 1 – Which of the following statement appropriately reflects a Major Risk to the project?
- Existing ABC Company data may prove difficult to transfer to the new software solution, which would require additional specialist resources, at the expense of the external supplier.
- The initial estimates, taken from the feasibility study report, indicate that the project will take two years to complete, which means that the business problems would remain for this period.
- The management stages recommended by the consultants may not be appropriate, which would result in confusion in planning the project.
- Due to market conditions, a suitable external supplier may not be found, which may lead to premature closure of the project.
Question
2 of 32

Question2
Refer Scenario 1 – Initial estimates indicated that the project would cost 2.5 million USD and take two years to complete. There is an expected saving of 20 million USD over 10 years. Which of the following describes the term ‘Benefits’?
- An outcome perceived as positive by one or more stakeholders
- A measurable improvement resulting from an outcome that is perceived as an advantage by one or more stakeholders
- The result of the change derived from using the project's outputs
- The tangible specialist products of the project
Question
3 of 32

Question3
Refer Scenario 1 – Which of the following is an expected Dis-benefit of the project?
- An investment of 2.5 million USD is required.
- The project will take two years to deliver.
- Staff morale will be negatively affected.
- Staff may lose the opportunity to work in Facilities.
Question
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Question4
Refer Scenario 1 – In the given project lifecycle, as work will progress, uncertainty about the expected outcome will ……
- Increase
- Decrease
- Increase or Decrease
- Remain the same
Question
5 of 32

Question5
Refer Scenario 1 – The project manager thinks that , some project management processes will have to be tailored as appropriate. Tailoring is necessary in a project’s processes because:
- The guidelines given in frameworks may not address all process groups.
- Some projects do not require formal management methods.
- Every project is unique and not all the processes may be equally important on each project.
- Some projects may have to extend into the operational and maintenance phases.
Question
6 of 32

Question6
Refer Scenario 1 – The project manager thinks that the Schedule appears to be too tight and it will not be possible to complete the project within given timeline. Hence time will become a major constraint for the project. Constraints should be negotiated with the stakeholders in the early stages of the project because ……
- Stakes are highest at the beginning of the project
- Risk is highest in execution due to constraints
- Stakeholders influence is highest at the beginning of the project
- Constraints are given conditions hence there is nothing to negotiate
Question
7 of 32

Question7
Refer Scenario 1 – The project is divided in 4 stages. Which of the following statement is correct about Project Stage?
- Higher the risks in the project shorter should be the stages
- Project should be divided into stages only if it has a long duration
- A project life cycle has the same stages irrespective of the industry
- Higher the risks in the project longer should be the stages
Question
8 of 32

Question8
Refer Scenario 1 – “Rely on the selected external supplier to act in a reliable and conscientious manner to provide the support and advice that will protect ABC Company’s interests.” This statement is an example of which risk response strategy?
- Avoid
- Mitigate
- Accept
- Transfer
Question
9 of 32

Question9
Refer Scenario 1 – “Identify ABC Company employees with knowledge or experience in restructuring and include them in the project team.” This statement is an example of which risk response strategy?
- Avoid
- Mitigate
- Accept
- Transfer
Question
10 of 32

Question10
Refer Scenario 1 – As per note from project manager’s diary – “The Schedule appears to be too tight. It will not be possible to complete the project within given timeline.” The request to stakeholders for relaxing the schedule is a form of ……
- Mitigating the risk
- Avoiding the risk
- Accept the risk
- Transferring the risk
Question
11 of 32

Question11
Refer Scenario 2 – Based on the data given in the scenario, what is the Critical Path of the network diagram?
- Create a detailed design – Create request for tender – Prepare a contract – Agree contract
- Specification of the new hardware solution – Evaluate proposals – Prepare a contract – Agree contract
- Specification of the new software solution – Evaluate proposals – Select supplier – Agree contract
- Specification of the new software solution – Evaluate proposals – Prepare a contract – Agree contract
Question
12 of 32

Question12
Refer Scenario 2 – Based on the data given in the scenario, what will be the effect if some activities are overlapped using the relationship Start to Start?
- The cost of the project will increase
- The project will be delayed
- The risk of rework will increase
- There will be no effect on project schedule
Question
13 of 32

Question13
Refer Scenario 2 – Based on the data given in the scenario, what is the float in activity “Create request for tender”?
- 5
- 0
- 1
- 4
Question
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Question14
Refer Scenario 3 – Based on the data in the scenario, What is the schedule Variance?
- 10250
- -10250
- -6750
- -8250
Question
15 of 32

Question15
Refer Scenario 3 – Based on the data in the scenario, What is the cost Performance Index?
- 0.89
- 0.84
- 0.78
- 1.1
Question
16 of 32

Question16
Refer Scenario 3 – Which of the following statement about Cost Baseline is NOT true?
- It indicates the cost of project
- It indicates the price of the project
- It let's you know the Budget At Completion
- It is a sum total cost of all the deliverables + contingency reserves
Question
17 of 32

Question17
Refer Scenario 3 – According to the schedule, after 9 months, 45% of the work should have been completed. The work performance information shows that 40% of the work has actually been completed. The project manager has spent 300,000 USD till status date after 9 months. What inference can be drawn from this data?
- The project is ahead of schedule and within its budget
- The project is behind schedule and over its budget
- The project is ahead of schedule and over its budget
- The project is behind schedule and within its budget
Question
18 of 32

Question18
Additional Information – The project manager is preparing the WBS for the project. Which of the following is NOT a result of excessive decomposition of deliverables while creating WBS?
- Nonproductive management effort
- Unreliable estimates
- Inefficient use of resources
- Decreased efficiency in performing the work

Question

19 of 32

Question19

Additional Information – The project manager is preparing the project Plan. Rolling wave planning is the concept of planning the near work in detail and keeping the future work at higher level. In which of the following scenario rolling wave planning is applicable?

During initial stage
When details about all project deliverables are clearly understood
During closing stage
once the deliverable is agreed upon

Question
20 of 32

Question20
Additional Information – During the Collect requirements process, while interviewing stakeholders, the project manager became aware of a set of “expectations” that the stakeholders had which were not explicitly mentioned in the requirements documentation. What should be done about such implicit expectations?
- Include these expectations also in the scope of the project
- Analyze those expectations and try to meet them to the extent possible
- Ask senior management to reset expectation with the stakeholders
- Document these expectations as Exclusions in the scope statement
Question
21 of 32

Question21
Additional Information – The project manager is preparing the Scope Statement. Which of the following statement is NOT an appropriate characteristics of a Scope Statement?
- The scope statement is the description of the project scope, major deliverables, assumptions, and constraints.
- The scope statement documents the entire scope, including project and product scope.
- The scope statement may contain explicit scope exclusions that can assist in managing stakeholder expectations.
- The scope statement defines only the products features and functionalities. Project work is not a part of scope statement.

Question

22 of 32

Question22

Additional Information – “The project manager has obtained the approval, for the scope statement, from the sponsor. The project manager and his senior team members are brainstorming to identify the WBS deliverables.” All of the following are benefits of the WBS EXCEPT?

It will help prevent work from slipping through.
It will ensure that both implicit & explicit requirements are taken care of.
It will facilitate communication and cooperation among stakeholders.
It indicates the impact of one team members work on the entire project.

Question

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Question23

Additional Information – One of the stakeholders on the project is a senior engineer considered as a subject matter expert. He reports into a separate function and is assigned part time to the project. The team is finding it difficult to get responses and guidance from this engineer on the project. What is the best approach for the project manager?

Escalate the matter to the engineer's manager and request for an alternate SME
Ask the team members to send questions well in advance to account for the delay in responses
When there are no responses, ask your team members to make suitable assumptions and proceed
Have a discussion with the engineer and figure out a way to get timely responses

Question
24 of 32

Question24
Additional Information – Which of the following is a benefit of stakeholder engagement?
- Clarify and resolve identified issues
- Meet stakeholder needs and expectations
- Obtain their continued commitment to the project
- Increase support and minimize resistance

Question

25 of 32

Question25

Additional Information – A stakeholder register is a dynamic document. It should be reviewed and updated as project progresses. Which of the following is NOT a reason for updating the stakeholder Register?

Some of the stakeholders may be helpful in providing technical expertise
There may be changes in the project
Stakeholder influence and interest may change over time
New stakeholders may become a part of the project

Question

26 of 32

Question26

Additional Information – The Project Manager has sent a meeting request to the Sponsor to discuss the project’s stakeholder management plan. The sponsor believes that only the scope, schedule and cost management plans are sufficient for such projects. Which of the following is the best response to this request?

The sponsor should decline the request as stakeholder management planning is not relevant for internal projects.
The sponsor should accept the request as stakeholder management planning is critical for all types of projects.
The sponsor should decline the request as stakeholder management planning should be done by project manager himself.
The sponsor should accept the request as he needs to know how the project manager plans to deal with him

Question

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Question27

Additional Information – “During feasibility study ABC Company management studied a list of internal projects envisioned. The management shortlisted projects to start with. The management analyzed the organization’s strategic objectives, investment required for the projects and the business need.” What additional aspect should be considered while making this decision?

Technical expertise and past experience of the organization.
The availability of resources.
The probability of expected cash inflows.
The frequency of changes to organization strategy.

Question
28 of 32

Question28
Refer Scenario 1 – The project manager is in the process of make or buy analysis for the deliverables in Stage 4. In which of the following scenario a customer would prefer outsourcing rather than developing the product In-house?
- When Quality control is of primary importance
- When scope is well defined and Price is the primary criteria
- When Intellectual property is of primary concern
- When data security is a primary criteria
Question
29 of 32

Question29
Refer Scenario 1 – For Stage 2 (Create a detailed design for the future Facilities staffing structure and a specification of the new hardware and software solution) the project manager plans to hire Restech resources on a per hour basis. This type of contract is typically known as …
- Fixed Price contract
- Cost Plus Award Fee contract
- Time and Material Contract
- Cost Reimbursable contract
Question
30 of 32

Question30
Refer Scenario 1 – For the identified risks in the project, which of the following may be used as a risk mitigation tool?
- A Contract
- Project Requirements Documentation
- WBS
- RACI Chart
Question
31 of 32

Question31
Additional Information – The project manager is in the process of creating a contract document for stage 4. The contract must have what two things?
- An offer and consideration
- Signatures and the stamp of a legal entity
- The value and worth of the procured item
- A start date and an acceptance of the start date
Question
32 of 32

Question32
Refer Scenario 1 – During feasibility study Restech consultants were also considering the option of developing a highly specialized and complex system for automation. The system could be developed in latest technology available. There are only two suppliers who are capable of developing such a system. How should ABC Company initiate the procurements for this work?
- ABC Company should send an Invitation for Bids to the suppliers
- ABC Company should send a Request for Quotation to the suppliers
- ABC Company should send a Request for Information to the suppliers
- ABC Company should send a Request for Proposal to the suppliers