61. The members of your project team have been assigned to your project with general availability levels of 50%.
Yesterday, they reported to you that significant variances occurred during project execution. You have noted that the team members have been spending less than 50% of their time working on your project. Your project schedule is about to become heavily delayed, and deadlines are in jeopardy. What should you do?61 o Talk to your sponsor and try to get more resources assigned on similar conditions as the existing ones. o Talk with functional managers. Negotiate clear and written assignments with reliable scheduling priorities. o Ignore the difficulties, adjust your schedule and negotiate new deadlines according to the slower progress. o Focus on internal charges. Make sure that your project is not getting charged for more than the actual work.
62. What is the meaning of the acronym CSOW?62 o A statement of work that is part of a contingency plan; it is commonly linked with Contingency reserves. o A statement of work that has been formally agreed upon by both parties and is therefore part of a contract. o A statement of work that is currently valid; this contrasts with the scope baseline, a formerly valid SOW. o A statement of work on project level that cumulates statements of work on cost account level
63. You monitored figures on cost and planned/earned value for each individual project week until the data date at the end of the sixth week. What is the status of this project at this date?
Project week
Actual costs
Earned value
Planned value 1 $65,000 $61,000 $67,000 2 $85,000 $79,000 $89,000 3 $100,000 $102,000 $110,000 4 $125,000 $124,000 $121,000 5 $135,000 $133,000 $139,000 6 $125,000 $120,000 $131,000 63 o The project is ahead of schedule and over budget. o The project is ahead of schedule and under budget. o The project is behind schedule and over budget. o The project is behind schedule and under budget.
64. Crashing describes a technique to speed up a project by...64 o ...reallocating existing resources or assigning additional resources to the project. o ...overlapping activities which were originally planned to be done in sequence. o ...reducing the number of features of the product in order to reduce development work. o ...reducing the duration estimates for activities to increase the pressure applied to the staff.
65. During risk identification sessions, you and your team identified more than 150 risks for your project. You are afraid that evaluating each of these risks quantitatively will cost you an enormous amount of time, while not all of them are really relevant and important enough to justify such a measure. What should you do next?65 o Identify risk triggers where possible. Analyze only those risks quantitatively for which no trigger could be found. o Use qualitative risk analysis in order to prioritize risks for further action, such as quantitative risk analysis. o Assess the probability of each risk qualitatively and further analyze only those risks with high probability. o Assess the potential impact of each risk qualitatively and further analyze only those risks with high impact.