BUSI 313 Quiz 3

BUSI 313 Quiz 3 Liberty University

Set 1

1. The risk identification process should be limited to just the core project team.
2. The project being delayed is an example of a major risk that should be assessed.
3. A risk profile is a list of questions that have been developed and refined from previous, similar projects.
4. Which of the following is NOT one of the potential responses to a specific risk event?
5. A fixed price contract is an example of
6. If, during risk response development, you successfully identify how you will respond to a risk, contingency planning is unnecessary.
7. Having an environment where identified risks are treated professionally will lead to better control of risks.
8. A risk is an uncertain event that, if it occurs, can have a positive or negative effect on project objectives.
9. When scheduling activities in a resource-constrained project typically the activity scheduled first has the most amount of slack.
10. In a resource-constrained project the third priority in assigning resources is usually given to activities with the
11. If resources are not adequate to meet peak demands, the resulting reschedule is termed
12. Since resource leveling or smoothing delays noncritical activities, a common result is a decrease in network sensitivity.
13. Which of the following is NOT one of the more common problems associated with scheduling multiproject resources?
14. Comparing Planned Costs versus Actual Costs will give the project manager a quick understanding of the status of the project.
15. These are all guidelines a project manager should consider when EXCEPT
16. Tony has realized that two activities in his project cannot be done at the same time because not enough resources are available. Activity 3 is critical and has a duration of 5 days. Activity 4 has 2 days of slack and a duration of 2 days. How will he decide which activity should be scheduled first?
17. Resource bottlenecks are one of the three more common problems encountered in managing multiproject resource schedules.
18. When determining which activity to crash, there are other factors that should be assessed beyond cost. Which of the following is NOT one of these factors?
19. Resources are frequently over-allocated when crashing a schedule.
20. Which of the following correctly calculates an activity’s cost slope?
21. Which of the following projects would be least benefited if additional resources were added?
22. One way of reducing project costs is identifying tasks that _________ can do themselves.
23. When crashing a schedule, this may set in when a least-cost method is used.
24. Crashing frequently results in over allocation of resources.
25. Brooks’ law states that adding manpower to a software project helps keep it on schedule.

Set 2

1. A risk profile is a list of questions that have been developed and refined from previous, similar projects.
2. is a measure of how easy it would be to notice that a risk event was going to occur in time to take mitigating action, that is, how much warning you would have.
3. A key distinction between a risk response and a contingency plan is
4. A list of questions that address traditional areas of uncertainty on a project is termed a
5. The chances of a risk event occurring as a project proceeds through its life cycle tend to
6. The initial step in the risk management process is to
7. Organizations use __________ in conjunction with work breakdown structures to help management teams identify and eventually analyze risk.
8. Risks are evaluated in terms of
9. The level of resources each activity will need to be completed in the given amount of time has been estimated; therefore, there are no resource constraints.
10. A special truck that George needs on his project has been scheduled on another project. This is an example of what type of resource constraint?
11. Why is it necessary to have a time-phased budget baseline?
12. Resource constraints can be overcome by creative and efficient scheduling.
13. All of the following are types of resource constraints EXCEPT
14. When leveling schedules to overcome resource constraints, ___________ is increased.
15. If resources are truly limited and activity time estimates are accurate, the resource-constrained schedule will materialize as the project is implemented, not the time-constrained schedule.
16. When scheduling activities in a resource-constrained project typically the activity scheduled first has the most amount of slack.
17. The inability to fit more than two earth movers on a construction site at the same time when more are needed to complete the activity on time is an example of a physical constraint.
18. Crashing can negatively impact the morale and motivation of the project team.
19. Adverse weather, design flaws, and equipment breakdown can create negative slack. This is an example of reducing project duration caused by
20. The relationship between the normal point and the crash point is assumed to be
21. Because direct costs are assumed to be developed from “normal” methods and in a “normal” amount of time, any reduction in activity time should add to the costs of the activity.
22. Crashing activities on a project network that is sensitive could increase the risk of the project being late.
23. Which of the following is NOT considered a project indirect cost?
24. Crashing frequently results in over allocation of resources.
25. When a project manager must reduce project duration but resources are constrained, creating a software program that will have fewer features than originally planned or building a house without the bonus room the owner originally specified in the plans would both be examples of