BZ460 Lesson 2 Exam SCORE 95 PERCENT

Question 1

The implementation of the new procedure is expected to reduce costs of production by 10% over the next year. This is an example of the __________ in a project charter.

Question options:

	project description
	project objective
	acceptance criteria
	success criteria and expected benefits
Question 2

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.

Question options:

	success criteria and expected benefits
	project description
	project objective
	acceptance criteria
Question 3

The contractor should state its understanding of the customer's need:

Question options:

	by including complex graphics to show expertise.
	in its own words with a description of the customer's current condition.
	adding lots of information about other projects that are similar.
	by restating the problem statement that appears in the RFP.
Question 4

A project charter summarizes the:

Question options:

	project objective.
	detailed description of the project.
	key conditions and parameters of the project.
	funding and contracting of the project.
Question 5

Proposal preparation is completed by:

Question options:

	a single person when proposing a multimillion-dollar project.
	a proposal manager regardless of the project size.
	a large team for a simple project.
	one or more people depending upon the requirements of the proposal.
Question 6

A way to foster trust is to:

Question options:

	get insider information about a company then share it with a competitor.
	ask about upcoming RFPs a company is planning.
	be reliable and responsive.
	only contact the customer when planned.
Question 7

The first step in project selection is to:

Question options:

	gather data and information for each project.
	list assumptions.
	evaluate each project against the criteria.
	develop a set of criteria against which a project will be evaluated.
Question 8

A BAFO requested by a customer is a:

Question options:

	best and first offer from the contractor.
	base accounting and finance office clarification from the contractor.
	best and final offer from the contractor.
	clarification request for broad, ambiguous, frivolous, and obscure aspects of the proposal.
Question 9

A contractor bidding on a fixed-price project must develop:

Question options:

	a well-defined project with low risk.
	accurate and complete cost estimates and include sufficient contingency costs.
	techniques to control costs and reduce expenses to make a larger profit.
	techniques to determine the cost-at-completion with actual expenditures.
Question 10

Fixed-price contracts are most appropriate for projects that:

Question options:

	are well defined and entail little risk.
	take less than one year to complete.
	are with customers that want a single payment date.
	involve risk.
Question 11

It is advisable to build relationships with __________ in a client or partner organization.

Question options:

	the chief financial officer
	several key people
	the top ranking official
	one individual
Question 12

Your company has been supplying a local company with warehouse management. A proposed project requires warehouse management in 15 national locations. This is an example of how the contractor could:

Question options:

	develop its proposal writing skills by bidding on the project.
	hurt its local reputation by working on projects with other companies.
	extend its capabilities and expand its business to a larger customer base.
	take on too much risk because they have only worked with a small company.
Question 13

When making contingency estimates, the contractor should:

Question options:

	heavily pad the estimates to include every issue.
	include an amount for each issue that has high impact.
	estimate the amount to mitigate high impact and probable issues.
	include a small amount for each possible issue.
Question 14

The project title should:

Question options:

	state what is expected to be accomplished.
	summarize the need and justification for the project.
	state the major end products or items expected to be produced.
	be concise and create a vision for the end result of the project.
Question 15

The new employees are expected to receive $13 million of Fast Start training that will be provided by a state workforce development grant. This is an example of the __________ in a project charter.

Question options:

	key assumptions
	project description
	acceptance criteria
	success criteria and expected benefits
Question 16

Sleeping on a contradictory issue and providing a thoughtful answer the next day:

Question options:

	gives you time to find a comic strip to include that expresses your political point of view.
	reinforces your thoughtfulness and builds a positive perception of you by the customer.
	lets you get more information to prove the client was wrong.
	reinforces that you cannot make quick decisions.
Question 17

The contract must clearly spell out the:

Question options:

	names of those responsible for tasks.
	deliverables the contractor is expected to provide.
	level of risk acceptable by the contractor.
	number of contact hours the contractor must have with the customer.
Question 18

Customers and partner organizations prefer to work with people they:

Question options:

	know are lean companies with few employees.
	have read about.
	know and trust.
	know are very large with many employees.
Question 19

An assumption for a construction project could be:

Question options:

	the size of the building that is to be constructed.
	a grant will be secured to help fund the project.
	the regulations and codes required for the building.
	the materials to be used to construct the building.
Question 20

A good way to start a conversation with a potential customer at XYZ Company is:

Question options:

	"How did your son's football team do this season?"
	"Did your sales increase this year?"
	"I just finished a meeting with Grace from ABC. She told me about their new products."
	"We are working on a project for ABC Company."