Getting better over time
Part of your project includes building one hundred widgets. You know that it will take longer and be more costly to do the first widget as opposed to the one-hundredth widget because of improved efficiency. This is known as:
A. Historical information
B. Bottom up estimating
C. Learning curve
D. PERT estimating
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WBS breakdown
While working on a WBS, breaking down work into manageable parts is known as:
A. Decomposition
B. WBS dictionary
C. Work package
D. Scope management
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Lag or lead? Critical path or non-critical path?
Although you got your project schedule approved prior to starting it, your client just moved the target finish date up two days. In order to finish the project two days earlier, which of the following can you apply?
A. Add two days of lag to the critical path
B. Add two days of lag to a non-critical path
C. Add two days of lead to the critical path
D. Add two days of lead to a non-critical path
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Contract types 101
After deciding to outsource a part of the project, your sponsor tells you that he wants a contract with the least amount of risk. What type of contract will you be seeking?
A. Fixed price
B. Time and materials
C. Cost plus fixed fee
D. Cost plus percentage of cost
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Opportunity cost
During the project selection stage, you learn that the value of Project A is $100,000 and the value of Project B is $75,000. Ultimately, Project A was chosen. As a result, the opportunity cost of that decision is:
A. $100,000
B. $75,000
C. $25,000
D. $175,000
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Customary gifts
While working as a project manager for your company, you travel to another country to meet with the client. During that visit, the client gives you a package and tells you that it is customary in their country to offer gifts. However, your company policy does not allow you to accept gifts. Therefore, you should:
A. Refuse the gift
B. Accept the gift anyway
C. Refuse the gift at first but accept it if the client insists
D. Accept the gift and notify your manager
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Maslow’s Hierarchy of Needs
When workers get an opportunity to contribute at their best, they reach a level that Maslow refers to as:
A. Esteem
B. Theory Y
C. Self-actualization
D. Theory X
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One sigma, two sigma, three sigma, six sigma!
If 1 sigma is equal to 68.26% and 6 sigma is equal to 99.9997%, what does 2 sigma equal?
A. 74.52%
B. 81.24%
C. 88.79%
D. 95.46%
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PERT formula
The PERT formula is typically calculated as:
A. (O+M+P)/6
B. (O+4M+P)/6
C. (O+M+P)/3
D. (O+4M+P)/3
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Critical path, show us the way
After making a small change to your project schedule, you realize now that you have two critical paths. Therefore, the project:
A. Will cost less
B. Must be modified to allow only one critical path
C. Has increased risk
D. Cannot be accomplished
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