Week 2 Project planning 10 Multiple Choice

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The five process groups represent the general flow of a project. However the five processes can be used for?
Guiding each phase of the project
Managing the concerns of clients
Monitoring project costs
Ascertain the status of a project
A project has to be planned, funded and authorized. When is a project officially authorized?
When a Project Manager and team have been assigned
When the project charter has been signed
When budget is complete
After the first project charter meeting
The WBS is created in the planning process group. WBS breaks scope down into workable packages that can easily be estimated and completed. All of the following are needed to create the WBS except?
Scope documents
Project requirements
Organizational process assets
PMI Glossary
Risk management helps minimize project uncertainty. A risk register is?
Central repository of project risks including risk attributes
Similar to a risk matrix
The first step in a risk management plan
Document system that logs and monitors all identified risks
Scope includes project requirements. Scope baseline utilizes three documents including all of the following except?
Scope statement
WBS dictionary
Project charter
SOW defines all the products and services that the project effort will provide. The SOW should include business need, scope description, and what else?
Strategic plan
Environmental constraints
Scoring models
Selecting which projects to bid on and work requires an organization to compare projects using a common set of criteria and values. A model that allows for comparison and evaluation of a number of projects is called?
Matrix model
Scoring model
Deliverable model
Scatter diagram
When looking across many projects to select one, several calculations should be utilized including NPV, payback period, and?
Internal rate of return
Planned value
Earned value
Schedule performance variance
As the project plan is executed, monitoring and controlling of project are on-going. Information collected as part of monitoring and controlling include?
Collecting project statistics
Current bond prices
Calculating cost benefit ratios
Calculating scoring model factors
The subsidiary plan defines the risk responses that are to be used in the project for both positive and negative risks is called the?
Risk register
Risk response plan
Risk management plan
Risk matrix

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