The two major components of a risk are

Select one:
a. cost and decision making
b. time and cost
c. uncertainty and damage
d. quality and time

Risk management is normally performed by

Select one:
a. developing contingency plans
b. asking the sponsor for help
c. developing work around situations
d. asking the customer for help

Which of the following is generally not part of overall risk management

Select one:
a. Selecting a project manager
b. Risk scoring and interpreatation
c. Defining the roles and responsibilities of the team members
d. Establishing a risk reporting format

Assumption, mitigation and transfer are examples of risk

Select one:

a. Responses
b. Expectations
c. Uncertainities
d. Contingencies

In which life cycle phase would project uncertainty be the greatest

Select one:
a. Delivery
b. Planning
c. Execution
d. Conceptual

You have an activity where the early start is week 6, the early finish is week 10, the latest
start is week 14, and the latest finish is week 18. The slack in this activity is
Select one:
a. 6 weeks
b. 8 weeks
c. 4 weeks
d. 18 weeks

The amount of time a job can be delayed without affecting the early start time of any other
job is called

Select one:
a. Independent Slack
b. Interfering Slack
c. Total Slack
d. Free Slack

If an activity on the critical path takes longer than anticipated, then

Select one:
a. activities not on the critical path have additional slack
b. additional critical path activities will appear
c. None of the above
d. activities not on the critical path have less slack

In which life cycle phase would the financial risks of a project be the greatest
Select one:
a. Delivery
b. Conceptual
c. Planning
d. Execution

Fixed Price Contract is an example for

Select one:

a. Retaining Risk
b. Mitigating Risk
c. Transferring Risk
d. Avoiding Risk

The first step in the development of a schedule is

Select one:
a. calculation of durations
b. determination of dependencies
c. calculation of effort
d. listing of activities

Which of the following cannot be identified after performing a forward pass and backward
pass
Select one:
a. Dummy activities
b. Slack time
c. How much overtime is planned
d. Critical path activities

A risk response strategy that generally reduces the probability or impact of the event without
altering the project's objectives is called

Select one:
a. Acceptance
b. Transfer
c. Mitigation
d. Avoidance

A network based schedule has four paths, namely, 7,8,9 and 10 weeks. If the 10 week path
is compressed to 8 weeks, then
Select one:
a. We now have two critical paths
b. Only the 7-week path has slack
c. The 9 week path is now the critical path
d. Not enough information is provided to make a determination

The main disadvantage of using the bar charts to manage a project is that bar charts
Select one:
a. do not show dependencies between activities
b. are ineffective for projects under 1 million dollar in size
c. are ineffective for projects under one year in length
d. do not identify start and end dates of a schedule

Activity with no time duration is called

Select one:

a. zero slack activities

b. supervision activities
c. dummy activities
d. resource activities

Reducing the peaks and valleys in manpower assignments in order to obtain a relatively
smooth manpower curve is called
Select one:
a. Manpower allocation
b. Manpower leveling
c. Manpower scheduling
d. Manpower loading

The difference between being reactive and proactive is the development of a

Select one:
a. Contingencies plans
b. Range of Payoffs
c. Range of probabilities
d. Payoff table

The probability distribution for project duration in PERT follows

Select one:
a. Normal Distibution

b. Beta Distribution
c. Binomial Distribution
d. Poisson Distribution

The shortest time necessary to complete all of the activities in a network is called the
Select one:
a. Activity duration lenght
b. Compression path
c. Critical Path
d. Maximum slack path

The probability distribution for activity times in PERT follows

Select one:
a. Normal Distribution
b. Poisson Distribution
c. Beta Distribution
d. Binomial distribution

The program that allocates resources to project activities to find the shortest project
schedule conditions with fixed resource limits is called
Select one:
a. Resource Scheduling

b. Resource Allocation
c. Resource Loading
d. Resource leveling

Which of the following is not a commonly used technique for scheduling compression
Select one:
a. Resource reduction
b. Fast tracking activities
c. Use of overtime
d. Reducing scope

The cause of a risk is usually referred to as

Select one:
a. an opportunity
b. an unwanted surprise
c. a hazard
d. an outcome

Identifying a risk as high, moderate or low would be an example of which risk assessment
Select one:
a. Go for broke

b. Quantitative
c. Qualitative
d. Adverse