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PROJ 598 Final Exa

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1. (TCO H) What is the maximum value of a verbal contract? (Points : 5)

2. (TCO F) Which is not part of the award phase of the contract management process? (Points : 5)

3. (TCO D) What are two major types of authority applicable to a contract manager/project manager? Briefly explain each of these authorities. (Points : 16)

4. TCO A) Describe three techniques that build trust and a lasting partnership. Give an example for each technique and how it would impact an organization. (Points : 18)

5. (TCO B) Describe the seller’s pre-award stage of the contract management process. Give an example of the activity that takes place in each step. (Points : 16)

6. ((TCO E) Describe and explain some of the tools and techniques that should be used in source selection. For example, is negotiation the only effective tool for source selection or are there others?
a .Contract negotiation, weighing systems, screening systems, and independent estimates are all manners to select appropriate sources. Regardless of the source required, there should be a process to screen suppliers in a way to empirically select a source. This reduces personal bias and other factors from the process. Page 146 (Points : 16)

Bottom of Form

1. (TCO C) Compare and contrast fixed price agreements with cost reimbursable agreements and with time and material agreements. Offer your opinion on which type of contract would best suit your organizational needs if you had to only select one type of agreement for all your suppliers and sub-contractors. (Points : 16)

2. (TCO F) What is source selection, and why is it important?(Points : 16)

3. TCO G) There are many misconceptions regarding global contract management. Describe three such misconceptions, and describe the reality of actual global contracts. (Points : 16)

4. (TCO H) One of the tools and techniques used in contract closeout or termination is compliance verification, briefly describe this tool. (Points : 16)

5. (TCO A) State and elaborate five actions to improve your use of contract incentives. (Points : 20)

6. (TCO C) Describe qualitative vs. quantitative evaluation criteria. (Points : 20)

Page 3

1. (TCO D) Performance-based contracts (PBC) contain five essential elements. (Points : 20)

2. (TCO E) It has been said that the side that does the most research and planning will often come out best in any negotiation? Do you agree with this statement? Do you disagree with this statement? Defend your position with examples and other information (Points : 20)

3. (TCO F) What is an indefinite delivery indefinite quantity (IDIQ)? (Points : 20)

4. TCO G) Describe and compare and contrast the buyer’s and seller’s post-award phase of the contract management process. Give an example for each step in the process for the buyer and for the seller. (Points : 20)

5. (TCO H) Describe and explain the awakening phase in the evolution of a project management organization. Explain and defend why this phase is the most important of the process. Use examples to support your ideas. (Points : 20)

6. (TCO B) What are the unique differences between cost plus incentive fee contracts and fixed price incentive contracts?(Points : 20)

 
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PROJ 592 Final Exam (Set 2

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1. (TCO B) Estimating Procedures
(a) You are the project manager for a new high-rise office building. You are working on estimating the exterior landscaping for the new development. The landscaping requires the use of a special landscape stone. Based on recent experience the most likely price for the material is $120.00/ton. However, the price for this stone is volatile, and the price fluctuates over time based on market conditions and material availability. The most optimistic price estimate is $60.00/ton, and the most pessimistic estimate is $160.00/ton. (Note there are 3 data points in for this estimate.)
What is the expected price of the material?

(b) In addition to price fluctuations, you are also uncertain of how much of the material will be required for the project. Scope changes and site conditions will affect the amount of material actually needed. The most likely amount required is 36 tons. However, as little as 28 tons or as much as 56 tons might be required.
What is the expected amount of the material needed for the project?

(c) Using the estimates from (a) & (b) what is the expected cost for the material over the life of the project using the COMPLEX method? (Points : 30)

2. (TCO B) Contingency Allowance:

You are a project manager for the development of Motorola’s new 4G, HD, Touch Screen Cell Phone which is supposed to take the cell phone industry by storm. Listed below are the initial cost estimates for the materials and labor for one of the phones:

(a) What contingency cost budget do you recommend for the product?

(b) The target retail price for the new telephone is $165.00 per unit. The markup demanded by retailers is 50%. Based on cost factors, write a brief rationale for acceptance or rejection of the project, including any recommendations you have regarding the cost estimates.

3. (TCO C) Work Breakdown Structure WBS

Speedy Computer, Inc. (SCI) is going to introduce its first laptop computer. Although SCI recognizes that it is a late entry into the market, it believes that there is room for an inexpensive product at the low end of the market. Its design process will start with a conceptual design performed concurrently with the disassembly and analysis of a select group of the competitor’s products. The best components consistent with the conceptual design will then be used as the basis for the working design.A prototype will then be developed with a focus on using components that are readily available in the marketplace. The prototype will be tested for technical performance and ease of use, and a cost estimate will be prepared to determine if the product could be profitably manufactured. If the prototype shows promise, work will begin on a marketing program and operations services, which include the development of user manuals and service programs. Manufacturing will be performed by subcontractors to the greatest extent possible to reduce risk. Final assembly and testing will be performed at SCI’s existing facilities.

Prepare a work breakdown structure (WBS) for this project with activities corresponding to a two level task and sub-task hierarchy. Provide columns showing the WBS code and activities. Number and indent the WBS codes so that the level of each activity is clearly identified.

(Points : 30)

4. (TCO A) Budgeting processes and techniques

A company modifies production automobiles to create custom hybrid vehicles for the high-end auto enthusiast market. They develop and build these custom designs as a single unit or at times in multiples of as many as 20 for larger orders. The orders are generated by the marketing department with help from the owners who participate in the management of the company. Each new order is assigned to a project team, which starts by making an estimate to the customer before a contract is signed. The project teams have a great deal of experience in these projects.

As would be expected, the owners are hands-on and have opinions on the estimates. The marketing folks also provide suggestions on what the customer is willing to pay.

What are some processes and techniques that you would suggest to make the budgeting process work well? Start with general but also provide some specifics as relate to creating detailed project budgets. Be sure to justify why you think your recommendations will work.

1. (TCO C) Schedule Crashing

Using the network below and the additional information provided, find:

(a) The crash cost per day per activity.
(b) Which activities should be crashed to meet a project deadline of 13 days at minimum cost? State the number of days you will crash each activity.
(c) What is the additional cost to crash the project?

2. (TCO E) Responsibility Allocation Matrix

Projects often cross many functional boundaries with team members reporting to different functional managers. This cross functional aspect can create problems with roles and responsibilities. You decide to use a Responsibility Assignment Matrix (RAM) to help with this situation. Your manager is wondering why you are spending your time on this tool when you already have resources assigned to tasks in your schedule.

(a) Why is the RAM such an effective tool for Project Managers?
(b) What are some of the typical responsibilities assigned on a RAM? (Points : 30)

3. (TCO E) Resource Allocation/Leveling

The following data were obtained from a project to design a new software package:

 

The software manufacturer has only the above personnel available for the project. Additional personnel can be hired from an agency at an 80% cost premium if needed.

(a) Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), the personnel in conflict, and the number of people involved.

(b) Note that operations can be split if required: what is the least cost method of resolving the conflict(s), assuming the project duration must not be extended? What additional cost, if any, will be incurred? (Points : 30)

1. (TCO G) Estimate At Completion forecast (EAC)

A project has been estimated to take eight weeks and cost $65,000. The critical path is A – D. Cost and earned value data are provided below:

(i) Calculate the Estimate At Completion (EAC) considering future performance will be back on schedule and budget.

(ii) Calculate EAC considering that the project will continue to perform as it has to date.

(iii) Using either of these two numbers discuss the status of the project and if the project manager needs to take corrective actions. Justify your comments.

(Points : 30)

2. (TCO D) PMIS and cost accounting

We have discussed extensively over the past eight weeks the benefits, tools, and methodologies to project monitoring and control. Effective project monitoring requires access to projects data, and therefore a Project Cost Accounting System (PCAS) is essential.

(a) What are the primary types of data collected by such a system?
(b) What are some of the benefits of PCAS? (Points : 30)

3. (TCO F) Earned Value

The following data were obtained from a project to design a new software package:

(a) Calculate the Cost and Schedule Variances and Indexes (CV, SV, CPI, SPI) for tasks A, B, C, D, and E.

(b) Write a brief analysis of the status of the project at this time, including task level, project level, and critical path.

 
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PROJ 586 Final Exam Set

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1. (TCO A) In a _____ organization, the project manager does not have complete authority over the project team. (Points : 5)

autonomous project
matrix
functional
functional and matrix

2. (TCO H) What is the longest phase of the project life cycle? (Points : 5)

Initiating
Planning
Performing
Closing

3. (TCO B) A(n) _____ is defined as a piece of work that consumes time. (Points : 5)

work package
activity
element
work object

4. (TCO D) All of the following are risk response types except _____. (Points : 5)

acceptance
transference
an opportunity
avoidance

5. (TCO F) The two most common types of project reports are _____. (Points : 5)

progress reports and the contract report
weekly and monthly
progress reports and the final report
update-only reports and status

6. (TCO C) The _____ time is the latest time by which a particular activity must be finished in order for the entire project to be completed by its required completion time. (Points : 5)

earliest start
earliest finish
latest start
latest finish

7. (TCO G) Which of the following is not an advantage of using project management software? (Points : 5)

Accuracy
The learning curve
Speed
Record keeping

8. (TCO A) Projects are identified and selected in the _____. (Points : 5)

initiating phase
planning phase
performing phase
closing phase

9. (TCO C) In addition to showing the technical constraints among activities, how does the network diagram logic also take into account resource constraints? (Points : 5)

Activities that use the same resource may not be able to occur in parallel to each other.
Activities that use different resources may be shown in a serial relationship.
The activities could be shown in a loop relationship.
Resources that are unlimited are not shown in a resource assignment.

10. (TCO F) The budget for each work package is _____. (Points : 5)

charged completely on the first day of the work package
charged at the end of the project
distributed over the duration of the work package
charged completely on the last day of the work package

11. (TCO F) The _____ for the entire project or for each work package provides a baseline against which actual cost and work performance can be compared at any time during the project. (Points : 5)

total budgeted cost (TBC)
cumulative budgeted cost (CBC)
cumulative earned value (CEV)
cumulative actual cost (CAC)

12. (TCO C) Calculate the earliest start for Task B if its predecessor, Task A, finishes on day 3 and the duration of Task B is 2 days. (Points : 5)

Day 5
Day 3
Day 1
This cannot be calculated based upon the information given.

1. (TCO B) Describe the benefits of including the people who will be involved in performing the project when planning the project. (Points : 10)

2. (TCO E)
Part 1: Discuss some types of conflict that might arise during a project. (15 points)
Part 2: Describe two examples that have these types of conflict. (15 points) (Points : 30)

3. (TCO C) A project to remodel an office area has the following activities. (Hint: You will need to build an AIB diagram, perform a forward pass, and perform a backward pass to answer this question.)

4. (TCO A)
Part 1: Compare and contrast the responsibilities of a functional manager and a project manager in a pure project-type organization. (10 points)
Part 2: A company builds state-of-the-art barges for riverboat companies. Which organization structure is the most suitable? Why? (10 points)
Part 3: An organization builds custom greenhouses for desert-climate cities. Which organization structure is the most suitable? Why? (10 points) (Points : 30)

5. (TCO D) A firm hosts data-mining servers and performs data mining for other companies that do not desire the costs of hardware, software, or expertise to data mine their data. The firm is planning to roll out faster data-mining software that will reduce the time to sift through customers’ data by a fraction of the present time.
Part 1: List and discuss the major risk-management functions from a project-management perspective for the data-mining software project. (15 points)
Part 2: Describe a risk event, the consequences, and the risk-response plan for the data-mining software project. (15 points) (Points : 30)

6. (TCO F) Analyze and compare the performance of the following two projects in terms of cost, schedule, and efficiency. Make sure to show your calculations and analyze and explain the results. (Note: Providing just numbers will receive only partial credit.)

Project A: The budgeted cost of work performed is $72,000, and the actual cost of work performed is $75,000. The budgeted cost of work scheduled is $73,000. (15 points)

Project B: The budgeted cost of work performed is $48,000, and the actual cost of work performed is $100,000. The budgeted cost of work scheduled is $122,000. (15 points) (Points : 30)

7. (TCO B) Based upon the results of traffic-load forecasts, a state department of transportation has decided to proceed with the design and construction of a new highway. However, prior to starting design work, a funding proposal must be prepared that justifies the design and construction expense. If the proposal is approved, a detailed survey will be performed on the proposed right of way (ROW). After the survey is completed, ROW clearance activities will be performed that include utility relocation, easement acquisition, and environmental investigations and cleanup.

Design activities generally proceed concurrently with the ROW clearance activities, and close communication between the two groups is essential. Design activities
start with an agreed-upon statement of project objectives. Subsequent activities include traffic management and safety planning, preliminary design, and final design.
After design activities are completed, a formal request for construction funding is submitted, a project manager is selected, and a construction contractor is selected.

Prepare a work breakdown structure (WBS) for this project with activities corresponding to a two-level task and subtask hierarchy. Number the WBS codes so that the level of each activity is clearly identified. Do not worry about indentation. (Points : 30)

8. (TCO B) You are reaching the end of your graduate-school program, and you are planning a large party to celebrate your success! You have rented out the local forest preserve as the venue for your party. Applying your project-management skills, you want to ensure you have everything planned out, and you’ve asked your family and friends to be a part of your team to hold this party. At your party, you have made it clear to your team what you want to have delivered. After all, it’s your party–you can have whatever you want! Some of the key items you want at your party include

· graduation announcements;

· party invitations;

· live entertainment;

· games (for adults and for children);

· food;

· beverages; and

· convenience for all (parking, restroom facilities, etc.).

a) To ensure you have a clear scope for your team, create a 2-level WBS. Don’t forget to include your WBS numbering. (15 points)
b) In your WBS, how many work packages have been created? (10 points) (Points : 25)

 
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PROJ 420 Final Exa

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1. (TCO 1) A medium-sized project requires

2. (TCO 2) The WBS does not address

3. (TCO 3) The goal of the identification step is

4. (TCO 4) The goal of response planning is

5. (TCO 5) Secondary risk is caused by

6. (TCO 6) Enterprise environmental factors include

7. (TCO 7) Minor risk reviews can occur

8. (TCO 8) The final risk register will show the final status of the risks as

9. (TCO 1) We don’t do risk management because it

10. (TCO 2) The WBS can be used to

11. (TCO 3) Contingent response strategy is used only when

12. (TCO 4) Risk metalanguage has three elements: cause, effect, and

13. (TCO 5) Secondary risks result from

14. (TCO 6) The risk interview will

15. (TCO 7) The goal of any risk management function is

16. (TCO 8) The post-project review will show the risk impact on

17. (TCO 1) If we do not manage risk we will have to resort to

18. (TCO 3) The real problem of not identifying a task in the WBS is

19. (TCO 5) A minor review is

20. (TCO 2) Issues differ from risks because

1. (TCO 2) There are eight benefits of a common process to manage both threats and opportunities. Identify two of them and briefly describe them

2. (TCO 4) Describe brainstorming and how it is used in the identification of risk

3. (TCO 7) Identify three of the five purposes of the implementation step

4. (TCO 8) In summarizing the lessons to be learned, the risk champion records four items. Name them

 
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PROJ 592 Final Exam (Set 2

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1. (TCO B) Estimating Procedures
(a) You are the project manager for a new high rise office building. You are working on estimating the exterior landscaping for the new development. The landscaping requires the use of a special landscape stone. Based on recent experience the most likely price for the material is $120.00/ton. However, the price for this stone is volatile, and the price fluctuates over time based on market conditions and material availability. The most optimistic price estimate is $80.00/ton, and the most pessimistic estimate is $180.00/ton. (Note there are 3 data points in for this estimate.)

What is the expected price of the material?

(b) In addition to price fluctuations, you are also uncertain of how much of the material will be required for the project. Scope changes and site conditions will affect the amount of material actually needed. The most likely amount required is 36 tons. However, as little as 28 tons, and as much as 56 tons might be required.

What is the expected amount of the material needed for the project?

(c) Using the estimates from (a) & (b), what is the expected cost for the material over the life of the project using the COMPLEX method?

2. (TCO B) Contingency Allowance:

You are a project manager for the development of Motorola’s new 4G, HD, Touch Screen Cell Phone which is supposed to take the cell phone industry by storm. Listed below are the initial cost estimates for the materials and labor for one of the phones:

 

(a) What contingency cost budget do you recommend for the product?
(b) The target retail price for the new telephone is $165.00 per unit. The markup demanded by retailers is 75%. Based on cost factors, write a brief rationale for acceptance or rejection of the project, including any recommendations you have regarding the cost estimates. (Points : 30)

3. (TCO C) Work Breakdown Structure WBS

Eurocash has decided to develop a mutual fund comprised almost entirely of East European companies with a high growth potential. The process of developing a new mutual fund begins with concept development, which includes establishing a clear definition of the project’s objectives that is agreed upon by senior management and developing a marketing strategy.

· A business analysis is then performed that includes assessments of market feasibility, internal feasibility (budgetary resource requirements), and regulatory feasibility.

· If the proposed fund passes the business analysis, the fund design is developed.

· The design process consists of product design, service design, internal review and authorization, and SEC registration (assuming a U.S. market).

· As the design process nears completion, generally recognized as a positive preliminary review by the SEC, employee training is performed.

· After completion of the employee training and final regulatory approval, the product is launched, and post-launch reviews are conducted at predetermined intervals.
Prepare a work breakdown structure (WBS) for this project with activities corresponding to a two level task and sub-task hierarchy. Provide columns showing the WBS code and activities. Number and indent the WBS codes so that the level of each activity is clearly identified. (Points : 30)

4. (TCO A) Budgeting processes and techniques

A company builds custom yachts for the high-end boating market. They develop and build these custom designs as a single individualized unit. The orders are generated by the marketing and sales department with help from the owners, who participate in the management of the company. Each new order is assigned to a project team which starts by making an estimate to the customer before a contract is signed. The project teams have a great deal of experience in these projects.

As would be expected, the owners are hands-on and have opinions on the estimates. The marketing folks also provide suggestions on what the customer is willing to pay.

What are some processes and techniques that you would suggest to make the budgeting process work well? Start with general but also provide some specifics as relate to creating detailed project budgets. Be sure to justify why you think your recommendations will work. (Points : 30)

1. (TCO C) Schedule Crashing

Using the network below and the additional information provided, find:

(a) The crash cost per day per activity.
(b) Which activities should be crashed to meet a project deadline of 13 days at minimum cost? State the number of days you will crash each activity.
(c) What is the additional cost to crash the project?

2. (TCO E) Responsibility Allocation Matrix

Projects often cross many functional boundaries with team members reporting to different functional managers. This cross functional aspect can create problems with roles and responsibilities. You decide to use a Responsibility Assignment Matrix (RAM) to help with this situation. Your manager is wondering why you are spending your time on this tool when you already have resources assigned to tasks in your schedule.

(a) Why is the RAM such an effective tool for Project Managers?
(b) What are some of the typical responsibilities assigned on a RAM? (Points : 30)

3. (TCO E) Resource Allocation/Leveling

The following data were obtained from a project to design a new software package:

 

The software manufacturer has only the above personnel available for the project. Additional personnel can be hired from an agency at an 80% cost premium if needed.

(a) Identify any resource conflicts in the above project. State the activities involved, the time frame of the conflict(s), the personnel in conflict, and the number of people involved.

(b) Note that operations can be split if required: what is the least cost method of resolving the conflict(s), assuming the project duration must not be extended? What additional cost, if any, will be incurred? (Points : 30)

Page 3

1. (TCO G) Estimate At Completion forecast (EAC)

A project has been estimated to take eight weeks and cost $65,000. The critical path is A – D. Cost and earned value data are provided below:

(i) Calculate the Estimate At Completion (EAC) considering future performance will be back on schedule and budget.
(ii) Calculate EAC considering that the project will continue to perform as it has to date.
(iii) Using either of these two numbers discuss the status of the project and if the project manager needs to take corrective actions. Justify your comments.

(Points : 30)

2. (TCO D) PMIS and cost accounting

An Earned Value system can be a very effective way to monitor projects. However, Earned Value Analysis requires a Project Cost Accounting System (PCAS).

(a) What are some of the benefits of PCAS?
(b) What are some of the software solutions for establishing a PCAS?

(Points : 30)

3. (TCO F) Earned Value

The following data were obtained from a project to design a new software package:

(a) Calculate the Cost and Schedule Variances and Indexes (CV, SV, CPI, SPI) for tasks A, B, C, D, and E.

(b) Write a brief analysis of the status of the project at this time, including task level, project level, and critical path.

 
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PROJ 587 Final Exam Set

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1. (TCO B) Some believe that a project management office (PMO) is nothing more than yet another level of management with the associated added cost and bureaucracy. Project Management experts tell us that this is a good thing. Which of these points of view is correct, and how do you (in your own words, though you may cite your readings to support your view as necessary) justify your conclusion? Remember that business thinks primarily in terms of dollars and benefit/cost ratios. (Points : 20)

2. (TCO B) One of the most traumatic decisions a project manager must sometimes make is to cancel a project. In an article titled “How to Fail In Project Management without Really Trying,” Business Horizons Reprint No. BH010, the following (whimsical but true) reasons that projects go out of control were identified:

1. Ignore the project environment, including stakeholders

2. Push a new technology to market too quickly

3. Don’t bother building fallback positions

4. When problems occur, shoot the one most visible

5. Let new ideas starve to death from inertia

6. Don’t bother conducting feasibility studies

7. Never admit a project is a failure

8. Over-manage project managers and their teams

9. Never, never conduct post-failure reviews

10. Never bother to understand project trade-offs

11. Allow political expediency and infighting to dictate crucial project decisions

12. Make sure the project is run by a weak leader

3. (TCO B) Your company has a PMO, and it has now decided to incorporate project portfolio management. Part 1: What is the difference between a PMO and a PPM? Part 2: Who should participate in implementing the PPM? (Points : 20)

4. (TCO E) Part 1: List the five levels of maturity in the Project Management Maturity Model (PMMM). Part 2: Describe each level and discuss whether each level can overlap with another level, and also define its level of risk. (Points : 20)

5. (TCO G) Part 1: What are the basic principles behind the AGILE process? Part 2: What is the PM’s role under the AGILE process? (Points : 20)

6. (TCO C) You have been hired to establish a PMO in your IT department. You will report directly to the CIO. You have been a member of a failed PMO. You understand why PMOs fail and what you will do to enhance the success of your PMO. Make sure to discuss at least four reasons that contribute to a failure and how you will overcome it. Also provide recommendations for assuring the success of a PMO implementation. (Points : 40)

7. (TCO D) Two of your best program managers are in a heated debate on the best way to resolve the situation to recover a project. Neither is willing to budge from his or her stand. What are some of the steps you will take to diffuse the situation? Explain your answers. In your answer, make sure you focus on the modes of conflict and conflict resolution. (Points : 40)

8. (TCO E) You have just been assigned to a program. Your team will be responsible for building a new financial system. You have just gone over the program charter and discovered that your program will have to integrate completely with another company’s customer service, network, marketing, legal, new development, procurement, and your own, IT.

The program must include a WEB-enabled customer interface that will allow for online bill paying, review, and changes. Your company does not currently have a corporate Web page. You know this will be new technology for your developers. Last of all, the implementation schedule for this program is very aggressive; you have 24 months from today to have the product up and running.

Fortunately, management is behind you 100% and willing to allow you to set up your team in any way you like. Let’s start with the organizational structure.

Would you recommend a pure project, matrix, or functional team? Why?

What are some important organizational considerations when forming the project team? What are the key advantages and disadvantages of your choice? (Points : 40)

9. (TCO F) Your company just finished delivering a software product to the client. In writing a summary report and checking a minor discrepancy, you uncover an error made by the testing team. It looks like an honest mistake. You realize that you could have caught it earlier had you checked out the discrepancy when it first appeared. You know enough about the software to understand that it will take approximately $30,000 to make the correction, making the project over budget and, of course, late. As designed now, there is the likelihood everything will perform successfully. If there would be a failure, with a remote possibility of patient injury, an investigation could reveal the obvious design error. How would you approach this problem from an ethical and code of conduct point of view? (Points : 40)

10. (TCO G) Critical Chain implementation requires a culture shift within an organization to make it successful. Part 1: Why is this statement true? Part 2: What about Critical Chain makes it unique from other scheduling techniques? Part 3: How does it address some of the “human nature” aspects of traditional project scheduling? (Points : 40)

 
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PROJ 586 Final Exam Set

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1. (TCO A) In the _____ organization structure, the project manager is responsible for the project results, whereas the functional manager is responsible for providing the resources needed to achieve the results. (Points : 5)

mixed-mode
matrix
autonomous project
functional

2. (TCO H) What is the longest phase of the project life cycle? (Points : 5)
Initiating
Planning
Performing
Closing

3. (TCO B) The lowest level item of any one branch of the WBS is called a(n) _____. (Points : 5)
object item
task statement
work package
activity node

4. (TCO D) A _____ is a predefined set of actions that will be implemented if the risk event occurs. (Points : 5)
management proposal
classification array
contingency plan
risk contingency matrix

5. (TCO F) _____ the project involves measuring actual progress and comparing it to planned progress. (Points : 5)
Planning
Scheduling
Forecasting
Controlling

6. (TCO C) If _____ is positive, it represents the maximum amount of time that the activities on a particular path can be delayed without jeopardizing the completion of the project by its required completion time. (Points : 5)
total time
free time
total slack
cumulative slack

7. (TCO G) Which of the following is not an advantage of using project management software? (Points : 5)
Accuracy
The learning curve
Speed
Record keeping

8. (TCO A) Which of the following is not an example of a project? (Points : 5)
Starting up a restaurant
Creating a website for a company
Raising money for a disaster-relief trip
Emptying the recycling everyday

9. (TCO C) Why are activities drawn in a serial relationship on a network diagram? (Points : 5)
The activities use different resources.
The activities are independent of each other.
From a technical standpoint, the activities must be performed in that sequence.
The order of completion doesn’t matter.

10. (TCO F) The project cost estimate is allocated to _____. (Points : 5)
the various work packages in the project work-breakdown structure
the resources in the project
the committed costs in the project
the stakeholders

11. (TCO F) It is important to use the _____ as the standard against which actual cost is compared. (Points : 5)
cumulative budget
total budget
budget at completion
phased budget

12. (TCO C) Calculate the earliest start for Task B if its predecessor, Task A, finishes on day 3 and the duration of Task B is 2 days. (Points : 5)
Day 5
Day 3
Day 1
This cannot be calculated based upon the information given.

Page 2

1. (TCO B) Describe the benefits of including the people who will be involved in performing the project when planning the project. (Points : 10)

2. (TCO E)
Part 1: What are some common barriers to team effectiveness? (15 points)
Part 2: Describe an example of a team project that would include barriers to success. (15 points) (Points : 30)

3. (TCO C) A project to remodel an office area has the following activities. (Hint: You will need to build an AIB diagram, perform a forward pass, and perform a backward pass to answer this question.)

4. (TCO A)
Part 1: Compare and contrast the responsibilities of a functional manager and a project manager in a matrix-type organization. (10 points)
Part 2: A company manufactures furniture. Which organization structure is the most suitable? Why? (10 points)
Part 3: An organization builds custom houses for urban-renewal areas. Which organization structure is the most suitable? Why? (10 points) (Points : 30)

5. (TCO D) A firm hosts data-mining servers and performs data mining for other companies that do not desire the costs of hardware, software, or expertise to data mine their data. The firm is planning to roll out faster data-mining software that will reduce the time to sift through customers’ data by a fraction of the present time.
Part 1: List and discuss the major risk-management functions from a project-management perspective for the data-mining software project. (15 points)
Part 2: Describe a risk event, the consequences, and the risk-response plan for the data-mining software project. (15 points)

6. (TCO F) Analyze and compare the costs of the two projects in terms of performance efficiency, budget, and schedule. Make sure to show your calculations and analyze and explain the results. (Note: Providing just numbers will receive only partial credit.)
7. (TCO B) An environmental consulting firm has been hired to clean up contaminated ground water beneath the site of a former chemical factory. The cleanup design process consists of evaluating several alternatives; preparing a conceptual design for the most appropriate alternative; evaluating the conceptual design by performing a small-scale pilot test on site; and, based on the results of the pilot test, preparing a final design. Installation of the cleanup system will be performed by subcontractors under the supervision of the consultant. Prior to installation, the consultant will work on setting up the subcontracts by preparing specifications, prequalifying installation contractors, reviewing all bids, and executing the contracts. The installation will consist of the following phases: recovery wells, piping, treatment equipment, and start up.

8. (TCO B) You are reaching the end of your graduate-school program, and you are planning a large party to celebrate your success! You have rented out the local forest preserve as the venue for your party. Applying your project-management skills, you want to ensure you have everything planned out, and you’ve asked your family and friends to be a part of your team to hold this party. At your party, you have made it clear to your team what you want to have delivered. After all, it’s your party–you can have whatever you want! Some of the key items you want at your party include

 
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PROJ 410 Final Exam (Set 2

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1. (TCO 1) A cost-plus-percentage-fee contract is a: _______. (Points : 5)

cost-reimbursable contract, the seller pays the buyer’s actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer’s actual costs, and all of the total project costs
cost-reimbursable contract, the buyer pays the seller’s actual costs, and a percentage of the total project costs
cost-reimbursable contract, the seller pays the buyer’s actual costs, and none of the total project costs

2. (TCO 2) The difference between the project manager and contract administrator is: ______.

(Points : 5)

the project manager is responsible for the project-related coordination, while the contract manager is responsible for administering the contract
the contract administrator has the authority to make all contract-related decisions, like approving a change order. The project manager does not have this level of authority.
the project manager is responsible for the administering of the contract, while the contract manager is responsible for project-related coordination.
the project manager has the authority to make all contract-related decisions, like approving a change order. The contract administrator does not have this level of authority.

3. (TCO 3) Which is a key component in the project procurement management process? (Points : 5)

RFI Request for Issue
RFP Request for Proposal
RFB Request for Buy
RFC Request for Contract

4. (TCO 2) Senior management typically has different reasons for issuing the directive to outsource than management responsible for the business process. Senior management typically decides to evaluate outsourcing because: ______. (Points : 5)

there is a means to focus more resources on business process strategy
there is a means to focus less resources on business process strategy
there is an effort to decrease performance
there is an organization-wide directive to downsize or cut costs

5. (TCO ) When notifying third parties in a transition plan, who would not need to be notified? (Points : 5)

Third-party vendors

Government or regulatory authorities

Customer’s competitors

Customer’s clients

6. (TCO ) In International contracts, which industry-specific question does not need to be asked? (Points : 5)

Which country’s standards are used?

What regulatory authorities are called into question?

What regulations are specific to the business process operations?

What notice requirements or approvals are needed before and after a contract signing?

7. If a contract is seen through its full term, list two items that should be completed as part of contract close-out? What is a close out manager? Why is deliverable acceptance documents so important?

8. (TCO 8) What are the two ways to rank the seller’s proposals before selecting a seller? (Points : 12)

9. (TCO 6) Sometimes, a seller is selected based solely on lowest price. However, sometimes this is not always the most efficient or effective way of selecting a seller. What are some of the other evaluation criteria that a buyer may use to help select a seller? (Points : 12)

10. What are some of the common techniques used for establishing service levels?

Page 2.

1. (TCO ) What is benchmarking? Please support your answer. Defend the cost of benchmarking in an industry. (Points : 30)

2. (TCO ) What happens when there is a failure in an SLA? Use an example to analyze a failure in an SLA and how important SLAs are to the buyer in a BPO contract agreement. (Points : 30)

3. (TCO ) What are the elements of a Request for Proposal (RFP)? Please list and discuss five of the elements. (Points : 10)

4. (TCO ) Part 1: Discuss the following types of contract pricing: (a) fixed price, (b) cost-plus price, (c) time & materials, and (d) unit price. Part 2: Explain the appropriate utilization of each contract pricing type and the impact of risk to the contracting parties. Part 3: What type of contract pricing structure misaligns the buyer’s motivations with the seller’s? (Points : 30)

5. (TCO ) List and describe five components of a BPO. Then summarize why each of the items that you chose are important to the BPO process. (Points : 30)

6. What does the outsourcing of the HR function involve? What are pros and cons of HR Outsourcing? What do you think are three critical considerations that you must include in the implementation plan for this outsourcing transition?

 
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