Your client requests that you to use a Monte Carlo technique for the project. What are you being asked to do?
A. Create a histogram that ranks risks.
B. Estimate cost and time results by executing the project many times through a simulator.
C. Ignore minor risks and take our chances.
D. Monitor cost variances and use contingency funds when necessary.
Dwight’s project is behind schedule. As a result, he is looking to reduce the duration of his project to bring it back on track. Dwight is also tasked with keeping costs as low as possible to reduce the risk of an overrun. What tactic should he use?
While preparing a quality management plan, you decide that sampling is appropriate for tests. When asked, you explain to your client that, typically, sampling is preferred when at least one of the following is true except:
A. It is not cost effective to test the entire population.
B. There is a high confidence level that there will be a low number of defects.
C. The WBS is less than four levels deep.
D. There is not enough time to test the entire population.
Which of the following statements is true regarding low grade and low quality?
A. Low grade is a goal, low quality is how you measure it.
B. Low grade and low quality mean the same thing.
C. Low grade is achieved by the team, low quality is determined by the project manager.
D. Low grade is acceptable, low quality is unacceptable.