Gold Final Quiz Attempt-1

Gold Final Quiz Attempt-1

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
For any assistance contact -+91-20-29517308/ +91 8888811578

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

002 Post Course Case Study Scenario 2 Schedule

003 Post Course Case Study Scenario 3 Cost

Time limit: 0

Quiz Summary

0 of 32 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 32 Questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Categories

Not categorized 0%

Current
Review
Answered
Correct
Incorrect

Question 1 of 32

1. Question

Refer Scenario 1 – Which of the following can be categorized as a benefit of the project?

The total expected savings over 10 years, at current prices, are 20 million USD.
Correct Incorrect Correct answer

The project will restructure the selected business functions.
Correct Incorrect Correct answer

The contract to supply the hardware and software solution, at current prices, will be worth £2m.
Correct Incorrect Correct answer

The cost of the project is 2.5 million USD, but with considerable savings over 10 years.
Correct Incorrect Correct answer
Question 2 of 32

2. Question

Refer Scenario 1 – Which of the following can be stated as a ‘Reason’ to undertake the project?

There is an expected saving of £20m over 10 years.
Correct Incorrect Correct answer

Reducing staff will mean that no property transfer is required.
Correct Incorrect Correct answer

The inadequate controls and outdated technology must be addressed.
Correct Incorrect Correct answer

The project will restructure the selected business functions.
Correct Incorrect Correct answer
Question 3 of 32

3. Question

Refer Scenario 1 – Owing to the strategic importance of the project, the CEO of ABC Company decided to become a Project Sponsor. The project sponsor is responsible for the project business case …

Until the completion of the project.
Correct Incorrect Correct answer

Until the completion of the Product Life Cycle.
Correct Incorrect Correct answer

Until the last benefit of the project is realized.
Correct Incorrect Correct answer

Until the first benefit of the project is realized.
Correct Incorrect Correct answer
Question 4 of 32

4. Question

Refer Scenario 1 – The business case had projected a saving of 20 million USD over 10 years in operating cost as a result of the implementation of the project. During the project execution, the project manager realized that a saving of only 10 million USD was possible. What should the project manager do?

As long as there is operational cost saving, there is no need to do anything.
Correct Incorrect Correct answer

Reset expectations with the stakeholders about the scale of saving; while taking steps to increase saving.
Correct Incorrect Correct answer

Revise the business case and present it back to the stakeholders to assess way forward.
Correct Incorrect Correct answer

Inform the team that the goal was to save 20 million USD and that they should do whatever it takes to meet it.
Correct Incorrect Correct answer
Question 5 of 32

5. Question

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.
Correct Incorrect Correct answer

The availability of resources.
Correct Incorrect Correct answer

The probability of expected cash inflows.
Correct Incorrect Correct answer

The frequency of changes to organization strategy.
Correct Incorrect Correct answer
Question 6 of 32

6. Question

Refer Scenario 1 – The Project is divided into 4 stages. A stage gate meeting is planned at the end of every stage. What is the primary objective of Stage gate review?

To analyze the risks, validate the business case and decide if the project should be continued.
Correct Incorrect Correct answer

To acquire the necessary resources for the completion of next stage.
Correct Incorrect Correct answer

To update the scope, cost and schedule baselines and get these approved.
Correct Incorrect Correct answer

To get a sign-off from the customer for deliverables completed till date.
Correct Incorrect Correct answer
Question 7 of 32

7. Question

Refer Scenario 1 – The project life cycle of the project is divided into four stages based on the recommendations. The first stage is Initiation stage. Which of the following statements is NOT true regarding this stage?

Risks are lowest during this stage.
Correct Incorrect Correct answer

Stakeholders have highest influence on the project during this stage.
Correct Incorrect Correct answer

Cost of resources is generally not too high during this stage.
Correct Incorrect Correct answer

Customers need for information is less during this stage.
Correct Incorrect Correct answer
Question 8 of 32

8. Question

Refer Scenario 1 – Owing to the strategic importance of the project, the CEO of ABC Company has taken the role of Project Sponsor. In other words the project has been directly undertaken by Portfolio. Which of the following statement is appropriate with reference to Portfolio Management?

Portfolio management should not undertake the projects directly.
Correct Incorrect Correct answer

Portfolio should only invest on programs.
Correct Incorrect Correct answer

Portfolio management can select and support both project and program investment.
Correct Incorrect Correct answer

A portfolio manager should not play a role of project sponsor.
Correct Incorrect Correct answer
Question 9 of 32

9. Question

Refer Scenario 1 – The Project lifecycle was divided into 4 stages. Which of the following statement is TRUE regarding the characteristics of this project life cycle?

Cost of resources will be highest in Stage 1.
Correct Incorrect Correct answer

Uncertainty will be highest in Stage 4.
Correct Incorrect Correct answer

Stakeholder influence will be highest during Stage 1.
Correct Incorrect Correct answer

Stakeholder ability to influence the project will increase as the project progresses.
Correct Incorrect Correct answer
Question 10 of 32

10. Question

Refer Scenario 1 – The project lifecycle is divided into 4 stages. What key action must be taken by the project manager during subsequent phases in order to validate decisions made at the start of project?

Update the Project Management Plan.
Correct Incorrect Correct answer

Validate the justification of Business case.
Correct Incorrect Correct answer

Perform cost estimation and budgeting.
Correct Incorrect Correct answer

Conduct team meetings.
Correct Incorrect Correct answer
Question 11 of 32

11. Question

Refer Scenario 1 – Which of the following statement appropriately explains the term ‘Risk Tolerance’?

Any event that may result in loss of data must be escalated to the Project Sponsor.
Correct Incorrect Correct answer

Risk tolerance must be used to respond to known risks.
Correct Incorrect Correct answer

Any risk with a proximity category of imminent will be estimated as having a very high impact.
Correct Incorrect Correct answer

Probability will be assessed against the scales defined in this Risk Management Strategy.
Correct Incorrect Correct answer
Question 12 of 32

12. Question

Refer Scenario 1 – “Contract a restructuring specialist to take an assurance role in the project, and provide advice to the Project Sponsor and Project Manager.” This statement is an example of which risk response strategy?

Avoid
Correct Incorrect Correct answer

Mitigate
Correct Incorrect Correct answer

Share
Correct Incorrect Correct answer

Transfer
Correct Incorrect Correct answer
Question 13 of 32

13. Question

Refer Scenario 1 – “Include a clause in the contract with the selected external supplier stating that, if the full functionality of the software solution is not delivered, the selected external supplier will reduce their fees accordingly.” This statement is an example of which risk response strategy?

Mitigate
Correct Incorrect Correct answer

Exploit
Correct Incorrect Correct answer

Share
Correct Incorrect Correct answer

Transfer
Correct Incorrect Correct answer
Question 14 of 32

14. Question

Refer Scenario 1 – Which of the following statement appropriately explains the term ‘Proximity’?

Any event that may result in loss of data must be escalated to the Project Sponsor.
Correct Incorrect Correct answer

The risk of staff leaving the organization is expected to occur 'beyond the project'.
Correct Incorrect Correct answer

Each risk will be assigned a risk owner.
Correct Incorrect Correct answer

At the end of each stage, risk owners will be consulted to check on the status of risk responses.
Correct Incorrect Correct answer
Question 15 of 32

15. Question

Refer Scenario 2 – Based on the data given in the scenario, which activity has the highest float?

Specification of the new hardware and software solution.
Correct Incorrect Correct answer

Create request for tender.
Correct Incorrect Correct answer

Prepare a contract.
Correct Incorrect Correct answer

Select supplier and agree contract.
Correct Incorrect Correct answer
Question 16 of 32

16. Question

Refer Scenario 2 – Based on the data given in the scenario, which activity would be the primary candidate for crashing?

Create a detailed design.
Correct Incorrect Correct answer

Select supplier and agree contract.
Correct Incorrect Correct answer

Prepare a contract.
Correct Incorrect Correct answer

Create request for tender.
Correct Incorrect Correct answer
Question 17 of 32

17. Question

Refer Scenario 2 – The scenario states that you have to use Precedence Diagramming Method (PDM) to draw the network diagram. Which of the following statements is TRUE about Precedence Diagramming Method?

In PDM, Nodes represent dependencies.
Correct Incorrect Correct answer

In PDM, Arrows represent activities.
Correct Incorrect Correct answer

In PDM, Start to Finish is most commonly used relationship in forward scheduling.
Correct Incorrect Correct answer

In PDM, nodes represent the activities.
Correct Incorrect Correct answer
Question 18 of 32

18. Question

Refer Scenario 2 – If project manager decides to provide a lag of 3 weeks for the activity ‘Evaluate Proposals’. What will be the impact on Project completion?

The Project duration will increase by ONE week than the original duration.
Correct Incorrect Correct answer

There will be no change in project duration than the original duration.
Correct Incorrect Correct answer

The Project duration will increase by THREE weeks than the original duration.
Correct Incorrect Correct answer

Float value of activity "Evaluate proposals" would become negative.
Correct Incorrect Correct answer
Question 19 of 32

19. Question

Refer Scenario 2 – If project manager decides to provide a lag of 3 weeks for the activity ‘Evaluate Proposals’. What will be the changed Critical Path?

There will be no change in Critical Path.
Correct Incorrect Correct answer

Create a detailed design – Create request for tender – Select supplier and agree contract.
Correct Incorrect Correct answer

Specification of the new hardware and software solution – Evaluate proposals – Select supplier and agree contract.
Correct Incorrect Correct answer

Specification of the new hardware and software solution – Prepare a contract.
Correct Incorrect Correct answer
Question 20 of 32

20. Question

Refer Scenario 3 – All deliverables of the project are considered to be complete ……

When CV equals one.
Correct Incorrect Correct answer

When BAC equals EAC .
Correct Incorrect Correct answer

When EV equals PV.
Correct Incorrect Correct answer

When CV equals zero.
Correct Incorrect Correct answer
Question 21 of 32

21. Question

Refer Scenario 3 – Based on the data in the scenario, What is the Cost Variance on the status date for four deliverables?

10200
Correct Incorrect Correct answer

-10200
Correct Incorrect Correct answer

7700
Correct Incorrect Correct answer

-7700
Correct Incorrect Correct answer
Question 22 of 32

22. Question

Refer Scenario 3 – Based on the data in the scenario, if it is assumed that same performance will continue throughout the project then what is the Estimate At Completion (EAC)?

1280000
Correct Incorrect Correct answer

1000000
Correct Incorrect Correct answer

640000
Correct Incorrect Correct answer

600975
Correct Incorrect Correct answer
Question 23 of 32

23. Question

Refer Scenario 3 – Based on the data in the scenario, What is the Schedule Performance Index on the status date for four deliverables?

0.75
Correct Incorrect Correct answer

0.8
Correct Incorrect Correct answer

1.1
Correct Incorrect Correct answer

0.62
Correct Incorrect Correct answer
Question 24 of 32

24. Question

Additional Information – “During planning the project manager conducts a brainstorming session with all team members and relevant stakeholders to identify innovative ways to ensure the project’s success.” Group brainstorming encourages all of the following EXCEPT ……

Team building.
Correct Incorrect Correct answer

Finding alternatives.
Correct Incorrect Correct answer

Uninhibited verbalization.
Correct Incorrect Correct answer

Convergent thinking.
Correct Incorrect Correct answer
Question 25 of 32

25. Question

Additional Information – “ABC Company, awarded the contract to Franklin Consultants. The project manager of Franklin consultants has completed the scope validation process. One of the representatives of ABC Company says that a functionality, related to service desk, is missing.” What should the project manager of Franklin Consultants do now?

Tell the customer representative that the product is as per scope and has passed all validations.
Correct Incorrect Correct answer

Talk to the project team regarding this missing functionality.
Correct Incorrect Correct answer

Meet the customer representative and understand the exact situation.
Correct Incorrect Correct answer

Incorporate the missing functionality into the product.
Correct Incorrect Correct answer
Question 26 of 32

26. Question

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.
Correct Incorrect Correct answer

It will ensure that both implicit & explicit requirements are taken care of.
Correct Incorrect Correct answer

It will facilitate communication and cooperation among stakeholders.
Correct Incorrect Correct answer

It indicates the impact of one team members work on the entire project.
Correct Incorrect Correct answer
Question 27 of 32

27. Question

Additional Information – “During the course of the project, The project manager of Franklin Consultants thinks that he has discovered vital trade secrets of ABC Company’s business.” As a seller’s project manager, he should ……

Best way is to keep quiet.
Correct Incorrect Correct answer

Discuss the situation with his (Franklin Consultants)sponsor.
Correct Incorrect Correct answer

Inform the customer and validate the information and take appropriate steps accordingly.
Correct Incorrect Correct answer

Resign from the project since it is a conflict of interest situation.
Correct Incorrect Correct answer
Question 28 of 32

28. Question

Additional Information – “Some stakeholders requested additional requirements . This resulted in negative impact on Cost and Schedule. But also helped in reducing stakeholders’ resistance to acceptance of the new systems.” What is the preventive action the project manager must take in order to avoid such a risk in future?

Project Manager should plan and manage stakeholders as per their roles in the project.
Correct Incorrect Correct answer

Review the WBS and the RACI Chart for incomplete scope.
Correct Incorrect Correct answer

Review the project contract documents that would help to identify stakeholders.
Correct Incorrect Correct answer

Request the sponsor to identify the stakeholders since project manager does not have sufficient authority.
Correct Incorrect Correct answer
Question 29 of 32

29. Question

Additional Information – “The Initiation phase is in its conclusion phase . However, one team member of Franklin Consultants informs the Project Manger that the QA representative of ABC is not satisfied about the quality of deliverables.” What the project team of Franklin Consultants has failed to do?

Maintain continuous communication with customer.
Correct Incorrect Correct answer

Provide customer with frequent status reports.
Correct Incorrect Correct answer

Analyze customer expectations and prepare Quality Assurance process and checklists.
Correct Incorrect Correct answer

Analyze customer expectations and prepare Quality Control process and checklists.
Correct Incorrect Correct answer
Question 30 of 32

30. Question

Considering the strategic importance of the project, the CEO of ABC Company has taken the role of Project Sponsor. For the project manager of Franklin Consultants what is the most appropriate strategy for engaging with him?

Only monitoring his requirements should be good enough .
Correct Incorrect Correct answer

Since he is also a CEO of the company keeping him satisfied should work.
Correct Incorrect Correct answer

A project sponsor should be monitored closely in all respect. He should be actively engaged from the beginning.
Correct Incorrect Correct answer

As a CEO he may not be acessible.so keeping him informed through his deputy should be good enough.
Correct Incorrect Correct answer
Question 31 of 32

31. Question

Additional Information – “One of the Functional Manager resigned while the project was in execution phase.” What action should the project manager consider now?

Organize a meeting with the new Functional Manager when he has any queries or asks for changes.
Correct Incorrect Correct answer

Continue with the project as before since the role of a functional manager is already defined in Stakeholder Engagement Strategy.
Correct Incorrect Correct answer

Evaluate the Interest and influence of the new Functional Manager and strategize his engagement.
Correct Incorrect Correct answer

Discuss the inclusion of new stakeholder with your team members.
Correct Incorrect Correct answer
Question 32 of 32

32. Question

Refer Scenario 3 – What will be the final payment to Franklin Consultants if the project gets completed in 7,60,000 USD?

8,68,000 USD
Correct Incorrect Correct answer

8,28,000 USD
Correct Incorrect Correct answer

8,44,000 USD
Correct Incorrect Correct answer

8,56,000 USD
Correct Incorrect Correct answer

Login

Accessing this course requires a login. Please enter your credentials below!

Username or Email Address

Password

Remember Me

Lost Your Password?