On projects with a low complexity profile, the project management team typically develops a list of items perceived to be slightly higher risk and track them during project reviews. True False
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- You are the project manager of the NHQ Project, which is part of the HQQ Program to construct a condominium building. Samuel, the program manager, has required that you document any variances to costs, schedule, scope, and quality expectations as part of the program governance. You believe that your project team now has an internal failure cost that needs to be documented for Samuel. Which of the following is an example of internal failure cost? Group of answer choices Project team training Rework Random quality audits Quality auditsWhich of the following are contractual terms (Select all that apply) NDA MOU LOI MAO CCB Communication can include which of the following Kick-off meetings Listening Outward E-mail All of the above Risk activities should be assigned To a team After a trigger occurs Without being added to the Risk Register To a single person In priority order What does CV stand for and what does it mean? (Select all that apply) Cost Variance, calculated EV – AC Continuous variability, measure of process Cost Variance, <1 is over budget Cost Variance, >1 is over budget Cost Variance, calculated AC – EVPrescriptive analysis answers the question a. How can we make it happen B Why did it happen C. What happened d.What will happen
- A project has the following risks. 40% chance of schedule delay costing $3,000 20% chance of success of a new methodology saving $4,000 a 50% chance of a legal obligation which costs $3,000 a 50% chance of unexpected savings of $10,000 What is the expected monetary value of this project? $20,000 $8,000 -$1,400 $3,100During the project initiation and planning phase, which of the following activities is undertaken? * New system requirements are identified O A formal, preliminary investigation is undertaken A presentation of why the system should or should not be developed by the organization is given Both B and CIncorporating flotation costs into the analysis of a project will : a. increase the initial cash outflow of the project b. cause the project to be improperly evaluated c. increase the net present value of the project d. increase the project's rate of return
- What term is used to describe the checkpoints (Go/No-go decision points) that occur during a project that also represent critical success factors (CSFs) for the project? Question 14 options: Work Breakdown Structures Variance Reports Feasibility Studies Project MilestonesCPM was developed to plan and control projects where task times are assumed to be uncertain.The focal point for all tourism activities should be tourists. a. FALSE b. TRUEThe Professional Project Management is a project delivery system that has unique advantages over the Design-Bid-build delivery system. (true or false)
- Linda is upset: she has to make another trip to the dry cleaners because they did not get a stain out of her new jacket as they had promised. This is an example of A.performance risk B.financial risk C.time-loss risk D.opportunity riskAccording to the Capability Maturity Model, organizations need partners during the ERP building if: Select one: a. The ERP project will help those organizations to save time, and costs. b. The project is not in the current strategic plan c. The objective is to address gaps in skills d. The ERP project will help those organizations to save time, efforts, and costs. e. The project require costly repairsMangement Project management is a discipline that involves planning, organizing, and overseeing the execution of a project from initiation to completion. It encompasses defining project goals, outlining tasks, allocating resources, and managing budgets and timelines. A successful project manager must possess strong leadership skills, effective communication, and the ability to mitigate risks and solve problems efficiently. Collaboration among team members is crucial, as is the flexibility to adapt to unexpected challenges that may arise during the project lifecycle. Continuous monitoring and evaluation ensure that the project stays on track, meeting objectives and delivering value to stakeholders. Question: How can project managers encourage effective collaboration and communication among team members to ensure the successful and timely completion of a project?