Methods of handling uncertainty in a project


Assignment:

Q1. Which of the following is not a function of risk assessment?
a. risk monitoring
b. risk prioritization
c. risk identification
d. risk analysis

Q2. Which of the following would come last in estimating projects?
a. develop schedules and budgets
b. develop the WB/OBS
c. make bottom-up estimates
d. make rough top-down estimates

Q3. There are many ways to report the ongoing completion status of a project. Which of the following methods is most accurate in calculating a completion percentage for the project?
a. actual days/weeks elapsed multiplied by 100 – then divided by total scheduled days/weeks
b. actual project expenditures multiplied by 100 – then divided by total estimated project cost
c. actual man-hours completed multiplied by 100 – then divided by total estimated project man-hours
d. actual tasks completed multiplied by 100 – then divided by total scheduled tasks

Q4. It is almost cliché that the bigger the project – the more difficult it is to estimate the time and cost necessary for successful completion. Which of the following is the LEAST valid reason to discourage bigger IT projects?
a. Big projects mean big overhead. This is partly caused by the need for more-frequent meetings to keep a larger team informed. That means less time to produce results.
b. Big projects mean big risks. The bigger the IT project – the more likelihood of encountering both expected and unexpected problems
c. Big projects tend to suffer from a lack of initial urgency – resulting in slow initial progress followed by near panic as the deadline approaches
d. Big projects must rely on guesswork to estimate future costs of required goods – services – technological platforms – wages – and the availability of the original team personnel

Q5. Mitigating project risk is accomplished in which phase of project risk management?
a. response
b. documentation
c. assessment
d. identification

Q6. Which of the following is not a helpful method to handle uncertainty in a project?
a. risk analysis
b. nonnumeric selection models
c. use pro forma documents
d. simulation

Q7. Which of the following documents can be used for risk mitigation?
a. quotation
b. requirements
c. contract
d. proposal

Q8. Which of the following conditions makes it preferable to use a bottom-up (micro) estimate of a project?
a. fixed-price contract
b. internal small project
c. unstable scope
d. high project uncertainty

Q9. Which of the following is usually not part of a technical project proposal?
a. past experience
b. technical approach
c. implementation plan
d. follow-on support plan

Q10. The simplest and most commonly used scheduling technique is the Gantt chart. Regarding Gantt charts – which of the following statements is not true?
a. the chart consists of a horizontal scale divided into time units and a vertical scale showing project work elements
b. a big advantage to the Gantt chart is that it gives a clear pictorial model of the project
c. One drawback to the Gantt chart is that it cannot help in assessing the status of the project as a whole
d. after the project is underway the Gantt chart helps in assessing the status of individual work elements

Q11. Which of the following network methods for project planning – scheduling – and control is not considered a critical path method?
a. DOS
b. Gantt chart
c. PERT
d. CPM

Q12. Which of the following tools is used to estimate future schedule trends?
a. Gantt chart
b. Pareto diagram
c. PERT chart
d. control chart

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Operation Management: Methods of handling uncertainty in a project
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