Deck 17: Project Management Techniques

Question 1

​A milestone task always has a duration of zero days.

Answer 1

True

Question 2

​The first step in NPV calculations is to determine the discount rate.

Answer 2

True

Question 3

Given the below figure,what is the Cumulative NPV after Year 2?
 

A)$76, 760
B)​$15,140
C)​$5,380
D)-$44,200

Answer 3

B

Question 4

​The most common way to determine the discount rate for NPV calculations is by _____.

A)using company policy
B)​using the federally published discount rates
C)​using the results of ROI calculations
D)​calculating current loan interest rates

Question 5

Given the below figure,what is the Net Present Value (NPV)for Year 2?

A)$55,800
B)​$59,340
C)$60,850
D)​$61,620

Question 6

​Given the below figure,when is the Breakeven point?

A)637 days
B)​538 days
C)​458 days
D)​272 days

Question 7

Given that the NPV at the end of year 3 was -$185,000 and it was +$265,00 at the end of year 4,what is the payback period?

A)Not enough information to calculate. 
B)​150 days
C)​Three years and 41 days
D)Three years and 150 days.

Question 8

​Given the below PERT/CPM chart,how many days does it take for the project to end?

A)15 days
B)​13 days
C)​12 days
D)​9 days

Question 9

​The discount factor for 2 time periods at 10% discount rate is ______.

A).9090
B).8899
C)​.8264
D)​.7513

Question 10

​The objective of ____ is to determine a specific value based on a predetermined discount rate.

A)project evaluation and review technique (PERT) 
B)​return on investment (ROI) 
C)​cost/benefit analysis
D)net present value (NPV)

Question 11

​In Microsoft Project calculating and assigning the duration time to a summary task is usually fairly complex.

Question 12

​The present value of $200,000 development costs in year 0 assuming a 10% discount rate is:

A)$180,000
B)​$190,000
C)​$200,000
D)​$210,000

Question 13

​Given the below figure,what is the 2 year ROI without discount?

A)129%
B)182%
C)​207%
D)​238%

Question 14

​A PERT/CPM is another name for a type of Gantt Chart.

Question 15

​Payback period is usually calculated for the same time period as the discount rate is applied.

Question 16

​In Microsoft Project a Tracking Gantt chart is useful to keep track of the resources on a project.

Question 17

​A(n)_____ chart is a chart for scheduling a project based on individual tasks or activities and their dependencies.

A)WBS
B)​PERT
C)PMBOK
D)​Project

Question 18

​Which of the following equations represents the present value (PV)of a discounted future amount (FA)at a discount rate (i)for multiple periods (n)? 

A)
B)
C)​
D)

Question 19

​To determine a percentage return on an initial investment,which of the following techniques should be used?

A)None of these will work 
B)Payback calculations
C)​Net present value
D)Return on investment

Question 20

​Which of the following is also referred to as the breakeven point?

A)Net present value (NPV)
B)​Payback period
C)​Return on Investment (ROI) 
D)​cost/benefit equalization

Question 21

​The three techniques used for Scope Management are Defining the scope,_______ ,and Controlling the scope.

A)Reducing the scope
B)​Approving the scope
C)Monitoring the scope​
D)​Verifying the scope

Question 22

​The method used in Microsoft Project for making summary tasks is by _______ the detailed tasks.

A)leveling
B)​subtasking
C)​promoting
D)​demoting

Question 23

​A project manager has purchased some training classes for JAVA programming for new members of his team.This would be considered to be part of which PM management area?

A)Time management
B)​Communication management
C)​Human resource management
D)​Procurement management

Question 24

​Which of the following equations is correct for calculating early start time?

A)
B)
C)
D)

Question 25

​Which of the following is NOT a type of dependency between tasks on a PERT/CPM chart?

A)Resource mandatory
B)​Project mandatory
C)​External mandatory
D)​Discretionary

Question 26

​For a particular project the new system requires the installation of new servers.Managing this activity fits best in which project management area?

A)Quality management
B)​Time management
C)​Cost management 
D)​Procurement management

Question 27

​The annual percentage rate that an amount of money is discounted to bring to a present value is called the _____.

Question 28

​Setting up a change control log to keep track of new system requirements is part of what PMBOK area?

A)Cost Management
B)​Quality Management
C)​Time Management
D)​Scope Management

Question 29

​Good Project Communication Management requires techniques in three important areas: (1)gathering information (2)disseminating information and (3)________ .

A)managing internal communications
B)​managing stakeholder information
C)​managing the database of information
D)​managing the project documentation

Question 30

​Which is NOT one of the characteristics of a quality software system?

A)Fit for intended purpose
B)​Robust
C)​Secure
D)Easy to install

Question 31

​Which of the following equations is correct for calculating late start times with concurrent tasks?

A)
B)
C)
D)

Question 32

​Given the below figure what tasks are included in the critical path?

A)1, 2, 3, 4, 5, 6, 7
B)​1, 2, 3, 6, 7
C) 1, 2, 4, 6, 7
D)​1, 2, 5, 6, 7

Question 33

​In Microsoft Project if task B need to begin two days after task A started,you would use a task dependency of _______.

A)FS + 2 days
B)SS + 2 days
C)​FS - 2 days
D)​SS - 2 days

Question 34

​Given the below figure,what is the early start time of task number 6?

A)6 days
B)7 days
C)​8 days
D)​9 days

Question 35

​To ensure that the project schedule accurately accommodates the necessary work is part of the objective of which PMBOK management area?

A)Schedule management
B)​Time management
C)​Quality management
D)​Resource management

Question 36

​Given a project schedule with all tasks connected via one way arrows and with task durations. The critical path is ______.

A)the longest path through the network
B)​the shortest path through the network
C)​neither the longest nor the shortest path through the network
D)​it cannot be determined

Question 37

​In a PERT/CPM chart the lag time represents _____.

A)a dead time between tasks
B)​the difference between the early start time and the late start time
C)​the delay between the projected completion and actual completion of a task
D)​the time required to coordinate tasks on separate paths

Question 38

​In a PERT/CPM chart when several tasks are in sequence to form a path segment but are not on the critical path the total slack time is _____?

A)the same for each one
B)​the sum of the individual slack times
C)​equal to the greatest slack time  
D)​equal to the smallest slack time

Question 39

​A split screen in Microsoft Project is an effective way to ______ .

A)view multiple projects at the same time
B)​view both summary information and detailed task information
C)​view the Gantt chart and the Resource sheet at the same time
D)​view the planning chart view and the tracking chart view at the same time

Question 40

Given the below figure,what is the late start time for task number 5?

A)6 days
B)​7 days
C)​8 days
D)9 days

Question 41

​List and briefly explain six characteristics of a quality system.

Question 42

​Briefly identify and explain the three primary objectives of Project Scope Management.

Question 43

​The latest time that a task can start on a project schedule without negative impacts to the overall schedule is called the ______.

Question 44

​The amount of time a task or sequence of tasks can be delayed without impacting the project is called the _____.

Question 45

​List the nine PMBOK knowledge areas.

Question 46

​The accumulation of yearly discounts based on a discount rate is called the ______.

Question 47

​List and briefly describe the objectives of Project Procurement Management.

Question 48

​List and briefly describe the four objectives of Project Communication Management.

Question 49

​Briefly identify and explain the three objectives of Project Time Management.

Question 50

​In Microsoft Project the process (either manual or automated)which resolves resource conflicts is called ______.

Question 51

​List and briefly explain at least four of the six objectives of Human Resource Management.

Question 52

​The earliest time that a task can start on a project schedule is called its _____.

Question 53

​In Microsoft Project a task that indicates the completion of a deliverable or some other completion item is called a _____  task.

Question 54

​In Microsoft Project a PERT/CPM chart view is called a _____  diagram.

Question 55

​The _____ is the point at which the increased cash flow exactly pays off the costs of development and operation.

Question 56

​Briefly identify and explain the four objectives of Project Cost Management.