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.
Which of the following statements about project scope and product scope is true?
A. Product scope ensures effective flow of a project while project scope is used to create a product.
B. Project scope and product scope can be used synonymously.
C. Product scope cannot be used to describe a project but project scope can be used to describe a product.
D. Project scope refers to work that needs to be accomplished to create a product; product scope refers to features that characterize a product.
The project you’ve been working on for the last six months is slightly behind schedule. Since you have a contingency fund available and the project is currently under budget, you figure the best way to catch up is to on time is to add a temporary staff for the next three months. What contract type is typically best for staff augmentation?
A. Fixed Price
C. Time and Material
D. Depends on the project budget
Lisa is creating the human resource plan for her project. One important element that she wants to identify during this process is how she is going to staff the resources necessary to complete her scheduled tasks. What type of output does Lisa need as part of her human resource plan?
C. Staffing management plan
Julie is scheduling a project to develop a new feature for her company’s website. Since she works in a functional organization, her team has other assigned projects and therefore, have limited availability for her project. What type of scheduling technique should Julie use to get the best estimate for her project?
A. Resource leveling
B. Schedule compression
C. Critical chain method
D. Critical path method
Of the following projects, which would not require you to complete Close Project tasks immediately?
A. A construction project that was completed
B. A construction project that was put on hold during the execution phase
C. A software project that was canceled during the execution phase
D. A software project that was canceled just during the planning phase