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MANAGEMENT OF YOUR TIME AND STRESS The following multiple-choice questions will be helpful in reviewing the principles of this chapter: 1. Which of the following leadership styles most frequently creates “additional” time robbers for a project manager? A. Telling B. Selling C. Participating D. Delegating 2. Which of the following leadership styles most frequently creates “additional” time robbers for the project team? A. Telling B. Selling C. Participating D. Delegating 3. Which of the following time robbers would a project manager most likely want to handle by himself or herself rather than through delegation to equally qualified team members? A. Approval of procurement expenditures B. Status reporting to a customer C. Conflicting directives from the executive sponsor D. Earned-value status reporting ANSWERS 1. A 2. D 3. C Quality management The following multiple-choice questions will be helpful in reviewing the principles of this chapter:

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MANAGEMENT OF YOUR TIME AND STRESS

The following multiple-choice questions will be helpful in reviewing the principles of this chapter:

1. Which of the following leadership styles most frequently creates “additional” time robbersfor a project manager?A. TellingB. SellingC. ParticipatingD. Delegating2. Which of the following leadership styles most frequently creates “additional” time robbersfor the project team?A. TellingB. SellingC. ParticipatingD. Delegating3. Which of the following time robbers would a project manager most likely want to handle by himself or herself rather than through delegation to equally qualified team members?A. Approval of procurement expendituresB. Status reporting to a customerC. Conflicting directives from the executive sponsorD. Earned-value status reportingANSWERS1. A2. D3. C

Quality management

The following multiple-choice questions will be helpful in reviewing the principles of

this chapter:1. Which of the following is not part of the generally accepted view of quality today?A. Defects should be highlighted and brought to the surface.B. We can inspect quality.C. Improved quality saves money and increases business.D. Quality is customer-focused.2. In today’s view of quality, who defines quality?A. Contractors’ senior managementB. Project managementC. WorkersD. Customers3. Which of the following are tools of quality control?A. Sampling tables

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B. Process chartsC. Statistical and mathematical techniquesD. All of the above4. Which of the following is true of modern quality management?A. Quality is defined by the customer.B. Quality has become a competitive weapon.C. Quality is now an integral part of strategic planning.D. All are true.5. A company dedicated to quality usually provides training for:A. Senior management and project managersB. Hourly workersC. Salaried workersD. All employees6. Which of the following quality gurus believe “zero-defects” is achievable?A. DemingB. JuranC. CrosbyD. All of the above7. What are the components of Juran’s Trilogy?A. Quality Improvement, Quality Planning, and Quality ControlB. Quality Improvement, Zero-Defects, and Quality ControlC. Quality Improvement, Quality Planning, and Pert ChartingD. Quality Improvement, Quality Inspections and Quality Control8. Which of the following is not one of Crosby’s Four Absolutes of Quality?A. Quality means conformance to requirements.B. Quality comes from prevention.C. Quality is measured by the cost of conformance.D. Quality means that the performance standard is “zero-defects.”9. According to Deming, what percentage of the costs of quality is generally attributable tomanagement?A. 100%B. 85%C. 55%D 15%10. Inspection:A. Is an appropriate way to ensure qualityB. Is expensive and time-consumingC. Reduces rework and overall costsD. Is always effective in stopping defective products from reaching the customer11. The Taguchi Method philosophies concentrate on improving quality during the:A. Conceptual PhaseB. Design PhaseC. Implementation PhaseD. Closure Phase12. A well-written policy statement on quality will:A. Be a statement of how, not what or whyB. Promote consistency throughout the organization and across projectsC. Provide an explanation of how customers view quality in their own organizationsD. Provide provisions for changing the policy only on a yearly basis13. Quality assurance includes:

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A. Identifying objectives and standardsB. Conducting quality auditsC. Planning for continuous collection of dataD. All of the above14. What is the order of the four steps in Deming’s Cycle for Continuous Improvement?A. Plan, do, check, and actB. Do, plan, act, and checkC. Check, do, act, and planD. Act, check, do, and plan15. Quality audits:A. Are unnecessary if you do it right the first timeB. Must be performed daily for each processC. Are expensive and therefore not worth doingD. Are necessary for validation that the quality policy is being followed and adhered to16. Which of the following are typical tools of statistical process control?A. Pareto analysisB. Cause-and-effect analysisC. Process control chartsD. All of the above17. Which of the following methods is best suited to identifying the “vital few?”A. Pareto analysisB. Cause-and-effect analysisC. Trend analysisD. Process control charts18. When a process is set up optimally, the upper and lower specification limits typically are:A. Set equal to the upper and lower control limitsB. Set outside the upper and lower control limitsC. Set inside the upper and lower control limitsD. Set an equal distance from the mean value19. The upper and lower control limits are typically set:A. One standard deviation from the mean in each directionB. 3 _ (three sigma) from the mean in each directionC. Outside the upper and lower specification limitsD. To detect and flag when a process may be out of control20. Which of the following is not indicative of today’s views of the quality managementprocess applied to a given project?A. Defects should be highlighted and brought to the surface.B. The ultimate responsibility for quality lies primarily with senior management or sponsorbut everyone should be involved.C. Quality saves money.D. Problem identification leads to cooperative solutions.21. If the values generated from a process are normally distributed around the mean value,what percentage of the data points generated by the process will not fall within plus orminus three standard deviations of the mean?A. 99.7%B. 95.4%C. 68.3%D. 0.3%ANSWERS1. B

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2. D3. D4. D5. D6. C7. A8. C9. B10. B11. B12. B13. D14. A15. D16. D17. A18. B19. B20. B21. D

ConflictsThe following multiple-choice questions will be helpful in reviewing the principles ofthis chapter:1. When talking about SMART objectives, the “S” stands for:A. SatisfactoryB. StaticC. SpecificD. Standard2. When talking about SMART objectives, the “A” stands for:A. AccurateB. AcuteC. AttainableD. Able3. Project managers believe that the most commonly occurring conflict is:A. PrioritiesB. SchedulesC. PersonalitiesD. Resources4. The conflict that generally is the most damaging to the project when it occurs is:A. PrioritiesB. SchedulesC. PersonalitiesD. Resources5. The most commonly preferred conflict resolution mode for project managers is:A. CompromiseB. Confrontation

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C. SmoothingD. Withdrawal6. Which conflict resolution mode is equivalent to problem-solving?A. CompromiseB. ConfrontationC. SmoothingD. Withdrawal7. Which conflict resolution mode avoids a conflict temporarily rather than solving it?A. CompromiseB. ConfrontationC. SmoothingD. WithdrawalANSWERS1. C2. C3. B4. C5. B6. B7. D

Management functionsLEADERSHIP EFFECTIVENESS (A)

1. On the job, a project manager should make a decision and . . .a. _____ tell his team to carry it out.b. _____ “tell” his team about the decision and then try to “sell” it.2. After a project manager has arrived at a decision . . .a. _____ he should try to reduce the team’s resistance to his decision by indicating what they have to gain.b. _____ he should provide an opportunity for his team to get a fuller explanation of his ideas.3. When a project manager presents a problem to his subordinates . . .a. _____ he should get suggestions from them and then make a decision.b. _____ he should define it and request that the group make a decision.4. A project manager . . .a. _____ is paid to make all the decisions affecting the work of his team.b. _____ should commit himself in advance to assist in implementing whatever decision his team selects when they are asked to solve a problem.5. A project manager should . . .a. _____ permit his team an opportunity to exert some influence on decisions but reserve final decisions for himself.b. _____ participate with his team in group decision-making but attempt to do so with a minimum of authority.6. In making a decision concerning the work situation, a project manager should . . .a. _____ present his decision and ideas and engage in a “give-and-take” session with his team to allow them to fully explore the implications of the decision.b. _____ present the problem to his team, get suggestions, and then make a decision.7. A good work situation is one in which the project manager . . .

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a. _____ “tells” his team about a decision and then tries to “sell” it to them.b. _____ calls his team together, presents a problem, defines the problem, and requests they solve the problem with the understanding that he will support their decision(s).8. A well-run project will include . . .a. _____ efforts by the project manager to reduce the team’s resistance to his decisions by indicating what they have to gain from them. b. _____ “give-and take” sessions to enable the project manager and team to explore more fully the implications of the project manager’s decisions.9. A good way to deal with people in a work situation is . . .a. _____ to present problems to your team as they arise, get suggestions, and then make a decision.b. _____ to permit the team to make decisions, with the understanding that the project manager will assist in implementing whatever decision they make.10. A good project manager is one who takes . . .a. _____ the responsibility for locating problems and arriving at solutions, then tries to persuade his team to accept them.b. _____ the opportunity to collect ideas from his team about problems, then he makes his decision.11. A project manager . . .a. _____ should make the decisions in his organization and tell his team to carry them out.b. _____ should work closely with his team in solving problems, and attempt to do so with a minimum of authority.12. To do a good job, a project manager should . . .a. _____ present solutions for his team’s reaction.b. _____ present the problem and collect from the team suggested solutions, then make a decision based on the best solution offered.13. A good method for a project manager is . . .a. _____ to “tell” and then try to “sell” his decision.b. _____ to define the problem for his team, then pass them the right to make decisions.14. On the job, a project manager . . .a. _____ need not give consideration to what his team will think or feel about his decisions.b. _____ should present his decisions and engage in a “give-and-take” session toenable everyone concerned to explore, more fully, the implications of the decisions.15. A project manager . . .a. _____ should make all decisions himself.b. _____ should present the problem to his team, get suggestions, and then make a decision.16. It is good . . .a. _____ to permit the team an opportunity to exert some influence on decisions, but the project manager should reserve final decisions for himself.b. _____ for the project manager to participate with his team in group decision making with as little authority as possible.17. The project manager who gets the most from his team is the one who . . .a. _____ exercises direct authority.b. _____ seeks possible solutions from them and then makes a decision.18. An effective project manager should . . .a. _____ make the decisions on his project and tell his team to carry them out.b. _____ make the decisions and then try to persuade his team to accept them.19. A good way for a project manager to handle work problems is to . . .a. _____ implement decisions without giving any consideration to what his team will think or feel.

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b. _____ permit the team an opportunity to exert some influence on decisions but reserve the final decision for himself.20. Project managers . . .a. _____ should seek to reduce the team’s resistance to their decisions by indicating what they have to gain from them.b. _____ should seek possible solutions from their team when problems arise and then make a decision from the list of alternatives.

LEADERSHIP EFFECTIVENESS (B)

Situation 1: The project office team members have been told to report to you this morning.They have all received your memo concerning the time and place of the kickoff meeting.However, they have not been provided any specific details concerning the project except that the project will be at least one year in duration. For your company, this is regarded as a long term project. A good strategy for the meeting would be:A. The team must already be self-motivated or else they would not have been assigned.Simply welcome them and assign homework.B. Motivate the employees by showing them how they will benefit: esteem, pride, and self-actualization.Minimize discussion on specifics.C. Explain the project and ask them for their input. Try to get them to identify alternatives and encourage group decision-making.D. Identify the technical details of the project: the requirements, performance standards, and expectations.Situation 2: You give the team members a copy of the winning proposal and a “confidential” memo describing the assumptions and constraints you considered in developing the proposal. You tell your team to review the material and be prepared to perform detailed planning at the meeting you have scheduled for the following Monday. During Monday’s planning meeting, you find that Tom (who has worked with you before) has established a take-charge role and has done some of the planning that should have been the responsibility of other team members. You should:A. Do nothing. This may be a beneficial situation. However, you may wish to ask if the other project office members wish to review Tom’s planning.B. Ask each team member individually how he or she feels about Tom’s role. If they complain, have a talk with Tom.C. Ask each team member to develop his or her own schedules and then compare results.D. Talk to Tom privately about the long-term effects of his behavior.Situation 3: Your team appears to be having trouble laying out realistic schedules that will satisfy the customer’s milestones. They keep asking you pertinent questions and seem to be making the right decisions, but with difficulty.A. Do nothing. If the team is good, they will eventually work out the problem.B. Encourage the team to continue but give some ideas as to possible alternatives. Let them solve the problem.C. Become actively involved and help the team solve the problem. Supervise the planning until completion.D. Take charge yourself and solve the problem for the team. You may have to provide continuous direction.Situation 4: Your team has taken an optimistic approach to the schedule. The functional managers have reviewed the schedules and have sent your team strong memos stating that there is no way that they can support your schedules. Your team’s morale appears to be very

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low. Your team expected the schedules to be returned for additional iterations and trade-offs, but not with such harsh words from the line managers. You should:A. Take no action. This is common to these types of projects and the team must learn to cope.B. Call a special team meeting to discuss the morale problem and ask the team for recommendations.Try to work out the problem.C. Meet with each team member individually to reinforce his or her behavior and performance.Let members know how many other times this has occurred and been resolved through trade-offs and additional iterations. State your availability to provide advice and support.D. Take charge and look for ways to improve morale by changing the schedules.Situation 5: The functional departments have begun working, but are still criticizing the schedules.Your team is extremely unhappy with some of the employees assigned out of one functional department. Your team feels that these employees are not qualified to perform the required work. You should:A. Do nothing until you are absolutely sure (with evidence) that the assigned personnel cannot perform as needed.B. Sympathize with your team and encourage them to live with this situation until an alternative is found.C. Assess the potential risks with the team and ask for their input and suggestions. Try to develop contingency plans if the problem is as serious as the team indicates.D. Approach the functional manager and express your concern. Ask to have different employees assigned.Situation 6: Bob’s performance as a project office team member has begun to deteriorate. You are not sure whether he simply lacks the skills, cannot endure the pressure, or cannot assume part of the additional work that resulted from the fifth position in the project being vacant. You should:A. Do nothing. The problem may be temporary and you cannot be sure that there is a measurable impact on the project.B. Have a personal discussion with Bob, seek out the cause, and ask him for a solution.C. Call a team meeting and discuss how productivity and performance are decreasing.Ask the team for recommendations and hope Bob gets the message.D. Interview the other team members and see if they can explain Bob’s actions lately. Ask the other members to assist you by talking to Bob.Situation 7: George, who is half-time on your project, has just submitted for your approval his quarterly progress report for your project. After your signature has been attained, the report is sent to senior management and the customer. The report is marginally acceptable and not at all what you would have expected from George. George apologizes to you for the report and blames it on his other project, which is in its last two weeks. You should:A. Sympathize with George and ask him to rewrite the report.B. Tell George that the report is totally unacceptable and will reflect on his ability as a project office team member.C. Ask the team to assist George in redoing the report since a bad report reflects on everyone.D. Ask one of the other team members to rewrite the report for George.Situation 8: You have completed the R&D stage of your project and are entering phase II: prototype testing. You are entering month seven of the twelve-month project. Unfortunately, the results of phase I R&D indicate that you were too optimistic in your estimating for phase II and a schedule slippage of at least two weeks is highly probable. The customer may not be happy.

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You should:A. Do nothing. These problems occur and have a way of working themselves out. The end date of the project can still be met.B. Call a team meeting to discuss the morale problem resulting from the slippage. If morale is improved, the slippage may be overcome.C. Call a team meeting and seek ways of improving productivity for phase II. Hopefully, the team will come up with alternatives.D. This is a crisis and you must exert strong leadership. You should take control and assist your team in identifying alternatives.Situation 9: Your rescheduling efforts have been successful. The functional managers have given you adequate support and you are back on schedule. You should:A. Do nothing. Your team has matured and is doing what they are paid to do.B. Try to provide some sort of monetary or nonmonetary reward for your team (e.g., management-granted time off or a dinner team meeting).C. Provide positive feedback/reinforcement for the team and search for ideas for shortening phase III.D. Obviously, your strong leadership has been effective. Continue this role for the phase III schedule.Situation 10: You are now at the end of the seventh month and everything is proceeding as planned. Motivation appears high. You should:A. Leave well enough alone.B. Look for better ways to improve the functioning of the team. Talk to them and make them feel important.C. Call a team meeting and review the remaining schedules for the project. Look for contingency plans.D. Make sure the team is still focusing on the goals and objectives of the project.Situation 11: The customer unofficially informs you that his company has a problem and may have to change the design specifications before production actually begins. This would be a catastrophe for your project. The customer wants a meeting at your plant within the next seven days. This will be the customer’s first visit to your plant. All previous meetings were informal and at the customer’s facilities, with just you and the customer. This meeting will be formal. To prepare for the meeting, you should:A. Make sure the schedules are updated and assume a passive role since the customer has not officially informed you of his problem.B. Ask the team to improve productivity before the customer’s meeting. This should please the customer.C. Call an immediate team meeting and ask the team to prepare an agenda and identify the items to be discussed.D. Assign specific responsibilities to each team member for preparation of handout material for the meeting.Situation 12: Your team is obviously not happy with the results of the customer interface meeting because the customer has asked for a change in design specifications. The manufacturing plans and manufacturing schedules must be developed anew. You should:A. Do nothing. The team is already highly motivated and will take charge as before.B. Reemphasize the team spirit and encourage your people to proceed. Tell them that nothing is impossible for a good team.C. Roll up your shirt sleeves and help the team identify alternatives. Some degree of guidance is necessary.D. Provide strong leadership and close supervision. Your team will have to rely on you for assistance.

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Situation 13: You are now in the ninth month. While your re planning is going on (as a resultof changes in the specifications), the customer calls and asks for an assessment of the risks in cancelling this project right away and starting another one. You should:A. Wait for a formal request. Perhaps you can delay long enough for the project to finish.B. Tell the team that their excellent performance may result in a follow-on contract.C. Call a team meeting to assess the risks and look for alternatives.D. Accept strong leadership for this and with minimum, if any, team involvement.Situation 14: One of the functional managers has asked for your evaluation of all of his functional employees currently working on your project (excluding project office personnel). Your project office personnel appear to be working more closely with the functional employees than you are. You should:A. Return the request to the functional manager since this is not part of your job description.B. Talk to each team member individually, telling them how important their input is, and ask for their evaluations.C. As a team, evaluate each of the functional team members, and try to come to some sort of agreement.D. Do not burden your team with this request. You can do it yourself.Situation 15: You are in the tenth month of the project. Carol informs you that she has the opportunity to be the project leader for an effort starting in two weeks. She has been with the company for twenty years and this is her first opportunity as a project leader. She wants to know if she can be released from your project. You should:A. Let Carol go. You do not want to stand in the way of her career advancement.B. Ask the team to meet in private and conduct a vote. Tell Carol you will abide by the team vote.C. Discuss the problem with the team since they must assume the extra workload, if necessary.Ask for their input into meeting the constraints.D. Counsel her and explain how important it is for her to remain. You are already shorthanded.Situation 16: Your team informs you that one of the functional manufacturing managers has built up a brick wall around his department and all information requests must flow through him.The brick wall has been in existence for two years. Your team members are having trouble with status reporting, but always get the information after catering to the functional manager. You should:A. Do nothing. This is obviously the way the line manager wants to run his department.Your team is getting the information they need.B. Ask the team members to use their behavioral skills in obtaining the information.C. Call a team meeting to discuss alternative ways of obtaining the information.D. Assume strong leadership and exert your authority by calling the line manager and asking for the information.Situation 17: The executives have given you a new man to replace Carol for the last two months of the project. Neither you nor your teams have worked with this man before. You should:A. Do nothing. Carol obviously filled him in on what he should be doing and what is involved in the project.B. Counsel the new man individually, bring him up to speed, and assign him Carol’s work.C. Call a meeting and ask each member to explain his or her role on the project to the new man.

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D. Ask each team member to talk to this man as soon as possible and help him come on board. Request that individual conversations be used.Situation 18: One of your team members wants to take a late-afternoon course at the local college.Unfortunately, this course may conflict with his workload. You should:A. Postpone your decision. Ask the employee to wait until the course is offered again.B. Review the request with the team member and discuss the impact on his performance.C. Discuss the request with the team and ask for the team’s approval. The team may have to cover for this employee’s workload.D. Discuss this individually with each team member to make sure that the task requirements will still be adhered to.Situation 19: Your functional employees have used the wrong materials in making a production run test. The cost to your project was significant, but absorbed in a small “cushion” that you saved for emergencies such as this. Your team members tell you that the test will be rerun without any slippage of the schedule. You should:A. Do nothing. Your team seems to have the situation well under control.B. Interview the employees that created this problem and stress the importance of productivity and following instructions.C. Ask your team to develop contingency plans for this situation should it happen again.D. Assume a strong leadership role for the rerun test to let people know your concern.Situation 20: All good projects must come to an end, usually with a final report. Your project has a requirement for a final report. This final report may very well become the basis for follow-on work. You should:A. Do nothing. Your team has things under control and knows that a final report is needed.B. Tell your team that they have done a wonderful job and there is only one more task to do.C. Ask your team to meet and provide an outline for the final report.D. You must provide some degree of leadership for the final report, at least the structure.The final report could easily reflect on your ability as a manager.

Chap no 3 from mid ORGANIZATIONAL STRUCTURES

The following multiple-choice questions will be helpful in reviewing the principles of this chapter:1. In which organizational form is it most difficult to integrate project activities?A. Classical/traditionalB. ProjectizedC. Strong matrixD. Weak matrix2. In which organization form would the project manager possess the greatest amount of authority?A. Classical/traditionalB. ProjectizedC. Strong matrixD. Weak matrix3. In which organizational form does the project manager often have the least amount of authority?A. Classical/traditionalB. ProjectizedC. Strong matrix

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D. Weak matrix4. In which organizational form is the project manager least likely to share resources with other projects?A. Classical/traditionalB. ProjectizedC. Strong matrixD. Weak matrix5. In which organizational form do project managers have the greatest likelihood of possessing reward power and have a wage-and-salary administration function? (The project and line manager are the same person.)A. Classical/traditionalB. ProjectizedC. Strong matrixD. Weak matrix6. In which organizational form is the worker in the greatest jeopardy of losing his or her job if the project gets canceled?A. Classical/traditionalB. ProjectizedC. Strong matrixD. Weak matrix7. In which type of matrix structure would a project manager most likely have a command of technology?A. Strong matrixB. Balanced matrixC. Weak matrixD. Cross-cultural matrixANSWERS1. A2. B3. D4. B5. A6. B7. A

Risk management

The following multiple-choice questions will be helpful in reviewing the principles ofthis chapter:1. The two major components of a risk are:A. Time and costB. Uncertainty and damageC. Quality and timeD. Cost and decision-making circumstances2. Risk management is normally performed by:A. Developing contingency plansB. Asking the customer for help

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C. Asking the sponsor for helpD. Developing work-around situations3. Future outcomes that provide favorable opportunities are called:A. Favorable risksB. OpportunitiesC. ContingenciesD. Surprises4. The cause of a risk event is usually referred to as:A. An opportunityB. A hazardC. An outcomeD. An unwanted surprise5. If there is a 40 percent chance of making $100,000 and a 60 percent chance of losing$150,000, then the expected monetary outcome is:A. $50,000B. _$50,000C. $90,000D. _$90,0006. Assumption, mitigation, and transfer are examples of risk:A. ContingenciesB. UncertaintiesC. ExpectationsD. Responses7. In which life-cycle phase would project uncertainty be the greatest?A. InitiationB. PlanningC. ExecutionD. Closure8. In which life-cycle phase would the financial risks of a project be the greatest?A. InitiationB. PlanningC. ExecutionD. Closure9. Identifying a risk as high, moderate, or low would be an example of which riskassessment?A. Go-for-brokeB. AdverseC. QualitativeD. Quantitative10. Monte Carlo simulation is an example of which risk assessment?A. Go-for-brokeB. AdverseC. QualitativeD. Quantitative11. Which of the following is not a valid reason for managing a risk?A. Minimizing the risk’s likelihoodB. Minimizing the risk’s unfavorable consequencesC. Maximizing the probability of the risk’s favorable consequencesD. Providing a late-as-possible warning system12. Which of the following is generally not part of overall risk management?

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A. Defining the roles and responsibilities of the team membersB. Establishing a risk reporting formatC. Select of the project managerD. Risk scoring and interpretation13. A technique for risk evaluation that uses a questionnaire, a series of rounds, and reportssubmitted in confidence and then circulated with the source unidentified is called:A. The Delphi techniqueB. The work groupC. Unsolicited team responsesD. A risk management team14. Risk symptoms or early warning signs are called:A. VectorsB. TriggersC. Pre-eventsD. Contingency events15. Which of the following is not a risk quantification tool or technique?A. InterviewingB. Decision tree analysisC. Objective settingD. Simulation16. A technique that depicts interactions among decisions and associated events is called:A. Decision tree analysisB. Earned value measurement systemC. Network scheduling systemD. Payoff matrix17. Varying one risk driver at a time, either in small increments or from optimistic to pessimistic estimates while keeping all other drivers fixed, is called:A. Decision tree analysisB. Sensitivity analysisC. Network analysisD. Earned value analysis18. A risk response strategy that generally reduces the probability or impact of the event without altering the project’s objectives is called:A. AvoidanceB. AcceptanceC. MitigationD. Transfer19. Earned value measurement is an example of:A. Risk communication planningB. Risk identification planningC. Risk responseD. Risk monitoring and control20. The difference between being proactive and reactive is the development of a:A. Payoff tableB. Range of probabilitiesC. Range of payoffsD. Contingency planANSWERS1. B2. A

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3. B4. B5. B6. D7. A8. D9. C10. D11. D12. C13. A14. B15. C16. A17. B18. C19. D20. D