BCS ISEB-PM1 Quiz 9 Topic 11 Questions 41-45

Question: 1

What is one of the KEY objectives during contract negotiations?

AObtain a fair and reasonable price.

BNegotiate a price under the seller's estimate.

CEnsure that all project risks are thoroughly delineated.

DEnsure that an effective communications management plan is established.

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Question: 2

Your company, Kick That Ball Sports, has appointed you project manager for its new Cricket product line introduction. This is a national effort, and all the retail stores across the country need to have the new products on the shelves before the media advertising blitz begins. The product line involves three new products, two of which will be introduced together and a third one that will follow within two years. Product number three will be elaborated in more detail closer to the product's release date, while the first two products will be elaborated in great detail now. The scope management plan has just been completed.

Which of the following is true?

AThe WBS template from a previous project, a tool and technique of the Create WBS process, was used to create the WBS for this project. The WBS encompasses the major deliverables for the project.

BOnly the deliverables associated with the work of the project should be listed on the WBS. Since product number three isn't being released until a later date it should not yet be included on the WBS.

CThe WBS encompasses the full scope of work for the project and the technique in the question is called rolling wave planning.

DThe WBS should be created next, and it encompasses the full scope of work for the project. Only the work of the project is listed on the WBS.

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Question: 3

Company A bought a well-defined project deliverable from Company B. Company A will pay a fixed total price plus a percentage premium for the schedule target achieved.

AFor which type of contract have they subscribed?

BFixed-price-incentive-fee contracts (FPIF)

CFirm-fixed-price-contracts (FFP)

DFixed price with Economic Price Adjustment Contracts (FP-EPA)

ETime and material contracts (T&M)

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Question: 4

Which of the following will be required to perform simu-lation for schedule risk analysis?

AActivity list and activity attributes

BSchedule network diagram and duration estimates

CSchedule data and activity resource requirements

DMilestone list and resource breakdown structure

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Question: 5

Risk Event Status is defined as ________.

ABoth 1) the severity of the consequences, and 2) how likely the event is to occur with risk.

B(Cost + Benefit + Business Risk) / Insurable Risk.

Chow likely the event is to occur with risk.

DRisk Probability x Amount At Stake.

Ethe severity of the consequences.

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BCS ISEB-PM1 Quiz:9 Topic:11 Questions:41-45