BZ460 Lesson 6 & 7 Exam SCORE 100 PERCENT

Question 1

Question 1

A financial related activity that must be performed during the closing phase is assuring that:

Question options:

	all payments have been collected from the customer.
	the personnel responsible for financial work is identified.
	total budgeted costs are calculated.
	the quarterly payments are invoiced.
Question 2

__________ is a defined set of actions to prevent or reduce the likelihood of occurrence or the impact of a risk, or to implement if the risk event occurs.

Question options:

	Risk assessment
	A risk response plan
	Risk management
	Risk control
Question 3

Some level of risk planning should be done during the __________ phase of the project life cycle to make sure that a contractor understands the risks involved with bidding on a proposed project. With knowledge of potential risks, the contractor can include contingency or management reserve amounts in the bid price.

Question options:

	closing
	initiating
	performing
	planning
Question 4

The purpose of identifying and documenting lessons learned is to capitalize on the knowledge and experience gained on the project in order to:

Question options:

	improve performance on future projects.
	establish a procedure of identification and documentation.
	create a large database of information.
	keep project team members busy.
Question 5

The __________ is a rating of low, medium, or high based upon the expected probability of a risk occurring during the project.

Question options:

	likelihood of occurrence
	priority order
	action trigger
	mitigation plan
Question 6

The process of closing the project involves various actions, including:

Question options:

	having staff get to know each other.
	assigning staff to activities.
	recognizing and evaluating staff.
	examining and estimating costs associated with staff.
Question 7

Risks are prioritized based on the:

Question options:

	priorities set in a different project.
	likelihood of occurrence and degree of impact.
	gut feeling of the project team.
	order they are identified.
Question 8

The purposes of a/an __________ should be to determine whether the project provided the customer with the expected benefits, assess the level of customer satisfaction, and obtain any feedback that would be helpful in future business relationships with this customer or with other customers.

Question options:

	analysis session with the project team
	pre-RFP meeting with the customer
	project progress meeting with project stakeholders
	post-project evaluation meeting with the customer or sponsor
Question 9

The project manager should prepare a written performance evaluation of each member of the project team that mentions how each has:

Question options:

	made mistakes in the problem and how much that mistake cost the organization.
	interacted with other team members, especially where conflict has caused problems for reaching the final goals of the project.
	expanded her or his knowledge as a result of the project assignment and identifies areas she or he needs to develop further.
	contributed to the project with a list of activities and the time on each and an analysis of what was done Incorrectly on each activity.
Question 10

A risk is an uncertain event that, if it occurs:

Question options:

	must be accepted.
	helps to achieve the project objective.
	can jeopardize accomplishing the project objective.
	must be avoided.
Question 11

The project organization should establish a __________ that includes an easily accessible repository that encourages project managers and teams to retrieve lessons learned and information from previous projects.

Question options:

	document storage routine
	knowledge base system
	revision process
	file structure
Question 12

Risks may change as the project progresses and should be reflected in the:

Question options:

	risk management strategy.
	risk response plan.
	Risk Assessment Matrix.
	action trigger point.
Question 13

Verifying that all payments have been made to any subcontractors, consultants, vendors, or suppliers for any purchased materials or services is completed during the __________ the project phase.

Question options:

	evaluating
	controlling
	performing
	closing
Question 14

The __________ is a rating of low, medium, or high based on the expected level of change in completing the project's objective if the risk were to occur during the project.

Question options:

	degree of impact
	priority order
	action trigger
	mitigation plan
Question 15

During the __________ the project phase, the project team or contractor should ensure that copies of appropriate project documentation are properly organized, filed, and archived so that they can be readily retrieved for future use.

Question options:

	performing
	closing
	evaluating
	controlling
Question 16

As part of, or in addition to, the documents in the archive, it can be valuable to create a database of common data elements from past projects in order to analyze and determine if there are trends or correlations that:

Question options:

	show a strong project team member that should be given additional compensation.
	should be shown on the annual reports for the organization.
	could be helpful in bidding, planning, and/or performing future projects.
	should be shared with the project sponsors of all the projects.
Question 17

__________ involves developing an action plan to reduce the likelihood of occurrence or potential impact of each risk, establishing a trigger point for when to implement the actions to address each risk, and assigning responsibility to specific individuals for implementing each response plan.

Question options:

	Risk impact statement
	Risk assessment
	Risk management strategy
	Risk response planning
Question 18

At the __________ meeting with the project team at the end of the project, the project manager should lead a discussion of what happened during performance of the project and solicit specific recommendations for improvement.

Question options:

	project progress
	individual
	activity specific
	group
Question 19

A common approach to identifying the sources of risks is:

Question options:

	brainstorming.
	developing a contingency plan.
	elaboration.
	evaluating the probability.
Question 20

Track and document which risks __________ and the impact of those risks.

Question options:

	may affect the critical path
	were avoided
	had the highest priority
	actually occurred
Section 2

 

Question 21

The project manager has primary responsibility for __________ in planning, organizing, and controlling the work effort to accomplish the project objective.

Question options:

	making all the decisions
	providing leadership
	doing the paperwork
	impeding
Question 22

For the __________ approach to work, it is necessary to have a healthy project environment.

Question options:

	Accommodating or Smoothing
	Competing or Forcing
	Avoiding or Withdrawing
	Collaborating, Confronting, or Problem Solving
Question 23

An important aspect of the project manager's job is to manage and control:

Question options:

	the customer's financial situation.
	changes.
	how the project team completes tasks.
	how stakeholders feel about the project.
Question 24

In the __________ approach, each person must approach the conflict with a constructive attitude and a willingness to work in good faith with the others to resolve the issue.

Question options:

	Accommodating or Smoothing
	Competing or Forcing
	Collaborating, Confronting, or Problem Solving
	Avoiding or Withdrawing
Question 25

The __________ has to first establish the criteria against which alternative solutions will be evaluated.

Question options:

	problem-solving team
	customer
	project team
	project manager
Question 26

The project manager communicates the objective to the project team in such a manner as to create a vision of:

Question options:

	the amount of work each member will have to do.
	what will constitute successful accomplishment of the objective.
	how much the project is going to cost.
	the number of meetings necessary during the project.
Question 27

The second stage of team development is known as:

Question options:

	performing.
	storming.
	forming.
	norming.
Question 28

Although the __________ approach may make a conflict situation livable, it does not resolve the issue.

Question options:

	Competing or Forcing
	Accommodating or Smoothing
	Avoiding or Withdrawing
	Collaborating, Confronting, or Problem Solving
Question 29

Once the best solution has been selected, it's necessary to next:

Question options:

	establish criteria for measuring the qualitative impact.
	implement the solution.
	prepare a plan for implementing that solution.
	determine whether the problem has been solved.
Question 30

In the __________ stage of team development, team members now begin to test the limits and flexibility of the project manager and the ground rules.

Question options:

	forming
	performing
	norming
	storming
Question 31

Project teams should be kept __________ throughout the project.

Question options:

	as large as possible
	at a moderate size with extra resources
	at a moderate size with contingency resources
	as small as feasible
Question 32

In the __________ approach, the split solution may not be the optimal one.

Question options:

	Collaborating, Confronting, or Problem Solving
	Competing or Forcing
	Avoiding or Withdrawing
	Compromising
Question 33

In the __________ stage of team development, the group begins to establish an identity and attempts to define and plan the tasks that need to be done. Little actual work is accomplished.

Question options:

	forming
	performing
	norming
	storming
Question 34

__________ involves securing the appropriate resources to perform the work.

Question options:

	Initiating
	Fostering
	Organizing
	Planning
Question 35

The project manager clearly defines the project objective and reaches agreement with the __________ on this objective.

Question options:

	stakeholders
	customer
	project team
	suppliers
Question 36

__________ should develop the planning information or implement the best solution to a problem.

Question options:

	The stakeholders
	The project team members who will be responsible for implementing the best solution for a problem
	The project manager and the customer
	The project manager
Question 37

The project manager needs to be sure that __________ won't casually agree to changes that may require additional person-hours.

Question options:

	stakeholders
	team members
	organizational management
	the customer
Question 38

A potential conflict on projects is Organizational Issues. There may be disagreement over all the following EXCEPT:

Question options:

	the need for certain procedures established by the project manager.
	from failure to make timely decisions.
	payment schedules from the customer.
	ambiguous project communication.
Question 39

It is the responsibility of the __________ to make sure that the customer is satisfied that the work scope is completed in a quality manner, within budget, and on time.

Question options:

	stakeholders
	project authority
	project team members
	project manager
Question 40

Once the __________ is complete, the organizing responsibilities begin.

Question options:

	fostering
	planning
	initiating
	organizing