Bus 419: project estimating and budgeting quiz 1 | BUS 419 Project Estimating and Budgeting | Strayer University

QUESTION 1

A project objective

a.

lists the interrelated tasks.

b.

utilizes various resources to carry out the tasks.

c.

establishes what is to be accomplished.

d.

assigns the resources to the tasks in the project.

3 points   

QUESTION 2

Which of the following is an example of a project?

a.

Directing a business internship program for students.

b.

Managing a catering business.

c.

Paving a shopping mall store parking lot.

d.

Sponsoring a sporting event.

3 points   

QUESTION 3

The project objective must be agreed upon by  

a.

the sponsor and the organization performing the project. 

b.

the project team. 

c.

the stakeholders. 

d.

those responsible for each of the project tasks to be completed. 

3 points   

QUESTION 4

The result of the performing phase of the project life cycle is 

a.

documentation of the steps necessary to complete the project. 

b.

approval of the project charter. 

c.

the expenditure of all the funds planned for the project. 

d.

the accomplishment of the project objective. 

3 points   

QUESTION 5

Corrective action must be taken for a project when

a.

actual progress to the planned progress shows the progress is ahead of schedule.

b.

the actual progress is less than the planned progress.

c.

the technical specifications have been met.

d.

the actual cost of the activities is less than the funds received for the work completed.

3 points   

QUESTION 6

This first phase of the project life cycle involves the:

a.

brainstorming solutions

b.

identification of a need, problem, or opportunity

c.

identifying the tasks to be performed

d.

contract negotiations

3 points   

QUESTION 7

The chances of making the best decision about which projects to implement are increased by

a.

inviting a large number of stakeholders to review the projects.

b.

having a bidders’ meeting to discuss the RFP.

c.

having only one person make a decision about which projects to implement.

d.

having a well-rounded committee and well-understood evaluation criteria.

3 points   

QUESTION 8

The building constructed will have at least R-38 insulation rating for the ceiling and R-28 for the walls. This is an example of the ____ in a project charter.

a.

success criteria and expected benefits

b.

acceptance criteria

c.

project objective

d.

project description

3 points   

QUESTION 9

The request for proposal 

a.

is the same as a project charter.

b.

is developed at the same time as the project charter.

c.

is used in every project.

d.

allows contractors to understand what the customer expects.

3 points   

QUESTION 10

Project life cycles

a.

may include the funds available for completing the project during each phase.

b.

follow a rigid process that includes development of a project charter and RFP.

c.

always include the preparation of a written request for proposal.

d.

sometimes move from initiating to planning and performing phases without a formal request for proposal.

3 points   

QUESTION 11

The project charter helps the team to 

a.

decide which contractor to select to work on a project.

b.

determine the purpose of the project.

c.

develop a detailed baseline plan for performing the project.

d.

set the evaluation criteria to select the project.

3 points   

QUESTION 12

Business customers and contractors 

a.

deserve special consideration during the development of the RFP.

b.

should receive special information because they have a relationship with the customer.

c.

have an advantage over other types of contractors, e.g., government, military, or private firms.

d.

consider the RFP/proposal process to be a competitive situation.

3 points   

QUESTION 13

A way to foster trust is to

a.

ask about upcoming RFPs a company is planning.

b.

get insider information about a company then share it with a competitor.

c.

be reliable and responsive.

d.

only contact the customer when planned.

3 points   

QUESTION 14

Customers and partner organizations prefer to work with people they

a.

have read about.

b.

know and trust.

c.

know are lean companies with few employees.

d.

know are very large with many employees.

3 points   

QUESTION 15

Contacts with potential clients

a.

occur only when there is a funding opportunity.

b.

focus on discussing potential contract opportunities.

c.

should be frequent and on a personal basis.

d.

should inform the client about the projects on which you are working.

3 points   

QUESTION 16

The objective of the ____ section of the contractor proposal is to convince the customer that the contractor can do the proposed work (the project) and achieve the intended results.

a.

operational

b.

management

c.

cost

d.

technical

3 points   

QUESTION 17

A BAFO requested by a customer is

a.

a best and final offer from the contractor.

b.

a best and first offer from the contractor.

c.

a base accounting and finance office clarification from the contractor.

d.

a clarification request for broad, ambiguous, frivolous, and obscure aspects of the proposal.

3 points   

QUESTION 18

____ outlines the circumstances under which the contractor must notify the customer immediately of any actual or anticipated schedule delays.

a.

Approval of subcontractor

b.

Notice of cost or schedule overruns

c.

Terms of payment

d.

Misrepresentation of costs

3 points   

QUESTION 19

The planning process is based on

a.

the number of risks for the project.

b.

the experience of the project’s stakeholders.

c.

the project objective.

d.

the number of resources available for the project.

3 points   

QUESTION 20

The key to quality control is to 

a.

have extra funds planned into the budget to pay for fast tracking the project.

b.

have an external inspector examine the final product only.

c.

rework each deliverable to make sure it is right.

d.

monitor the quality of the work early and regularly throughout the project.

3 points   

QUESTION 21

In the planning process, the ____ is/are the end product(s) that the project team must deliver.

a.

cycle

b.

environment

c.

work forms

d.

objective

3 points   

QUESTION 22

The project team or contractor must avoid ____, which is informally making changes to the project scope without appropriate approval.

a.

scope change

b.

scope creep

c.

updating the work breakdown structure

d.

editing the project scope document

3 points   

QUESTION 23

The responsibility assignment matrix shows

a.

the primary and support responsibility for each task.

b.

dual primary roles for each work item in the matrix.

c.

the percentage of effort by the support responsibilities.

d.

the amount of time the primary responsibility is assigned.

3 points   

QUESTION 24

A comprehensive project scope document is ____ the work breakdown structure.

a.

important because it is the foundation for creating

b.

not as important as

c.

not needed for creating

d.

the same as

3 points   

QUESTION 25

The ____ may include a high-level WBS in a graphic chart format or as an indentured list of the work elements and associated deliverables.

a.

network diagram

b.

statement of work

c.

project scope document

d.

work breakdown structure

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