The parametric estimating technique is typically used in developing definitive estimates.

Q1. The parametric estimating technique is typically used in developing definitive estimates.
a. true
b. false

Q2. A key role of a project manager in time-boxed scheduling is to:
a. prepare and present the features of the final deliverable to the project team
b. teach team members how to use scheduling software
c. develop the WBS
d. facilitate the project team’s prioritization meetings

Q3. The WBS is useful when:
a. conducting a top-down estimate
b. conducting a parametric cost estimate
c. conducting a bottom-up estimate
d. allocating human resources to tasks

Q4. An advantage of the product-oriented WBS is that it:
a. provides an excellent view of the whole product
b. focuses on the schedule of the project
c. focuses on the cost of the project
d. is logical, and fairly easy to read

Q5. The leading tool for trend extrapolation is:
a. a) Scenario building
b. b) Monte Carlo simulation
c. c) regression analysis
d. d) multidimensional scaling

Q6. Over five quarters, revenue generated by Alpha Enterprises was: 10, 14, 12, 16, 20. Using moving averages for two-quarter time periods, calculate smoothed values for the 2nd, 3rd, 4th, and 5th quarters:
a. a) 12, 13, 14, 18
b. b) 12, 12, 14, 17
c. c) 12, 14, 16, 18
d. d) 12, 14, 16, 20

Q7. According to the Critical Chain perspective, when computing task durations you should:
a. estimate the median duration of the tasks
b. add buffers task by task
c. select a duration that has a 90% chance of success
d. make a best estimate, then multiply it by a fudge factor

Q8. The critical chain approach ties schedules to resource availability.
a. true
b. false

Q9. If BCWP=$500, BCWS=$600, ACWP=$400 and EAC=$900, what is project cost and schedule status?
a. under budget, behind schedule
b. over budget, behind schedule
c. over budget, ahead of schedule
d. under budget, ahead of schedule

Q10. According to the TOC, multitasking often results in:
a. increased quality
b. increased efficiency
c. decreased requirements for resources
d. decreased accountability

Q11. Cost estimates:
a. must be accurate to within +/- 5%
b. distribute project funds according to time lines
c. are prepared after the budget has been determined
d. are prepared before the project budget

Q12. A basic premise of time-boxed scheduling is that:
a. perfection is the ultimate goal of scheduling
b. heavy use of scheduling software ensures project success
c. ‘You can’t have it all’
d. it is wrong to scale back on technical features during scheduling, since this reduces the quality of the deliverable

Q13. Definitive estimates are derived from:
a. Top-down estimates
b. Expert judgment cost estimates
c. Bottom-up estimates
d. Order of magnitude estimates

Q14. Soft logic means that:
a. task B must follow task A
b. if task B must follow task A, then task C must also follow task B
c. task A and task B are carried out concurrently
d. while task B is depicted as following task A, the dependency relationship is not required

Q15. The only time to conduct effective estimation in project management is during pre-project (initiation) phase.
a. true
b. false

Q16. The most valuable tool for tracking schedule performance is:
a. the PERT/CPM network diagram
b. milestone charts
c. S-curves
d. Gantt charts

Q17. A problem with time-boxed scheduling is that it requires solid quantitative skills to be able to use it effectively.
a. true
b. false

Q18. ‘Concrete drying’ is an example of:
a. a working time task
b. an elapsed time task
c. a working time and an elapsed time task
d. hard logic

Q19. If BCWP=$500, BCWS=$600, ACWP=$400 and EAC=$900, cost variance is:
a. -$100
b. $100
c. -$200
d. $200

Q20. Over five quarters, revenue generated by Alpha Enterprises was: 10, 14, 12, 16, 20. Using the exponential smoothing technique, calculate smoothed values for the 2nd, 3rd, 4th, and 5th quarters given that a = 0.5:
a. 12, 13, 14, 18
b. 12, 12, 14, 17
c. 12, 14, 16, 18
d. 12, 14, 16, 20

Q21. Both PERT/CPM and the critical chain approaches treat resources as bottlenecks.
a. true
b. false

Q22. The resource planning tool that enables us to identify who we need to carry out what tasks is called:
a. a resource Gantt chart
b. a resource ogive
c. a resource matrix ( also called responsibility chart)
d. a resource loading chart (also called a resource histogram)

Q23. Typically, feeder buffers are added to resources at:
a. the point where a non-critical chain path joins the critical chain
b. the beginning of the non-critical chain path
c. the beginning of the critical chain path
d. in the middle of non-critical chain path

Q24. The S-curve:
a. provides information about cumulative expenditures at a given point in time
b. is a resource loading chart
c. is a scheduling tool
d. tracks achievement of milestones

Q25. The Theory of Constraints (TOC) was originally developed:
a. by the Navy
b. by Du Pont
c. for the service sector
d. for manufacturing

Q26. Using either working time or elapsed time to calculate the time it will take to complete a task produces the same results.
a. true
b. false

Q27. A man’s weight represents what kind of measure?
a. interval scale data
b. ordinal scale data
c. nominal scale date
d. precise measure

Q28. Buffers are used to address the problem of:
a. Law of diminishing returns
b. Parkinson’s Law
c. The Peter Principle
d. Complexity Law

Q29. ‘Earned value’ is a measure of:
a. planned cost
b. planned schedule
c. actual cost
d. work performed

Q30. If BCWP=$500, BCWS=$600, ACWP=$400 and EAC=$900, schedule variance is:
a. -$100
b. $100
c. -$200
d. $200

Q31. The internal rate of return is a project selection technique that examines at what point cumulative income more than offsets cumulative investment.
a. true
b. false

Q32. Which of the following shows resource allocation over time?
a. resource leveling
b. resource matrix
c. S-curve
d. Resource Gantt chart

Q33. Which of the following approaches is likely to call for multitasking?
a. fast tracking
b. crashing milestone activities
c. crashing non-critical activities
d. configuration management

Q34. If BCWP=$500, BCWS=$600, ACWP=$400 and EAC=$900, the cost performance index (CPI) is:
a. 1.33
b. 1.00
c. 0.80
d. 1.25

Q35. TOC states that to fix problems encountered by a system or projects:
a. focus on the Gantt chart
b. fix problems related to all activities on the critical path
c. fix the bottlenecks
d. fix problems related to all activities on both critical and no-critical path

Q36. Critical chain rejects the value of the traditional precedence diagram method.
a. true
b. false

Q37. The most accurate way to measure earned value (BCWP) is:
a. employ the 50:50 Rule
b. employ the 0:100 Rule
c. track milestone performance
d. use expert judgment of project team members

Q38. Which of the following can be described as very crude cost estimates?
a. indirect project cost estimation
b. preliminary estimates
c. definitive estimates
d. conceptual estimates

Q39. Another name for Gantt chart is precedence diagram.
a. true
b. false

Q40. A new product faces two pay-off possibilities. It will either make $100 or $120. The probability of making $100 is 0.4, while the probability of making $120 is 0.6. Conduct a Monte Carlo simulation to simulate the new product’s pay-off, using the following random numbers to compute your answer: 83, 28, 82, 36, 91, 9.
a. $110
b. $112
c. $114
d. $115

Q41. Project buffers are placed at:
a. the beginning of critical chain activities
b. the end of critical chain activities
c. the beginning of project milestones
d. the end of project milestones

Q42. Good estimation practice requires that estimates be updated when project tracking efforts indicate that critical path tasks cannot be completed as planned.
a. true
b. false

Q43. Crashing is used to speed up work and it generally leads to efficient use of resources.
a. true
b. false

Q44. Prioritization is the foundation of time-boxed scheduling.
a. true
b. false

Q45. If BCWP=$500, BCWS=$600, ACWP=$400 and EAC=$900, the schedule performance index (SPI) is:
a. 1.33
b. 0.83
c. 0.80
d. 1.20

Q46. If you want to shorten the length of a project, you must:
a. spend more money
b. shorten the free float
c. shorten the critical path
d. cut back on the features you plan to deliver

Q47. From the Critical Chain perspective, it is generally better to schedule work:
a. Concurrently
b. Sequentially
c. in a staggered fashion
d. so that critical tasks can be crashed early

Q48. Gantt charts can be used to track actual vs. planned schedule performance.
a. true
b. false

Q49. If an analysis of cost variance for a given month shows we have spent $10, 00 more than we planned, what conclusion can we make?
a. We are experiencing a cost problem
b. We don’t have enough information to determine project status for the month
c. We are saving money
d. We are slipping our schedule

Q50. The bottom level of a WBS is called:
a. work package
b. cost account
c. code of accounts
d. chart of accounts

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