MGMT404 Week 4 quiz – Perfect Solution – Instant Delivery

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Problem Statement

Question 1
(TCO 1) Which step of the project life cycle creates the project charter?
• Initiation
• Planning
• Monitoring and control
• Close out

Question 2
(TCO 1) The purpose of a project charter is to
• define the project.
• allow for the creation of a WBS.
• authorize the project.
• define detailed project risks.

Question 3
(TCO 2) Which step of the project life cycle defines all of the project deliverables?
• Close out
• Planning
• Monitoring and control
• Initiation

Question 4
(TCO 2) Which statement is an example of a project assumption?
• “If the parts arrive late, we will not finish on time.”
• “We must get permits before we start work.”
• “I believe the contracts will be signed by the 15th.”
• “The paving of the parking lot will be completed within this project.”

Question 5
(TCO 3) The longest continuous path of activities from beginning to end on a project describes the
• deliverables.
• slack.
• critical path.
• work packages.

Question 6
(TCO 3) What values are calculated on the forward pass of a project network?
• Early start; late start
• Early start; early finish
• Late start; late finish
• Early finish; late finish

Question 7
(TCO 5) In which process of risk management are proactive and reactive strategies considered?
• Plan risk management
• Plan risk responses
• Control risks
• Qualitative risk analysis

Question 8
(TCO 5) A risk matrix is used in _____ to _____. A risk register is a _____.
• qualitative risk analysis; prioritize risks; list of risks
• quantitative risk analysis; identify risks; way to categorize risks
• qualitative risk analysis; create risk strategies; way to monitor negative risks
• risk identification; simulate project risks; way to categorize risks

Question 9
(TCO 1) Compare and contrast the project charter and the project scope as used in project management.

Question 10
(TCO 2) You are a project manager for a new hardware/software project. You just received the project charter and established your scope statement. Within the scope statement, you defined some of the key components to meet the overall project objective. Establishing requirements will be critical to define and get approved. The hardware will be new for your company, so you will need to ensure the vendor is selected and the hardware is appropriately installed into your environment. The supporting software will need to be designed and coded. It will also need to be installed and tested on the system. To ensure the users know how to use the new software, training will be needed for managers and the associates. You have assembled your team of experts and they are anxious to get started.
Part 1: To ensure you have a clear scope for your team, create a 2-level WBS. Don’t forget to include your WBS numbering. (15 points)
Part 2: In your WBS, how many work packages have been created? (5 points)

Question 11
(TCO 3) Compare and contrast crashing and scope reduction as means of schedule reduction.

Question 12
(TCO 5) A firm hosts eCommerce transactions for other companies. The firm processes credit purchases supporting most major credit cards and is known as an inexpensive alternative to other larger competitors. The firm is deploying new security software that is state-of-the-art for eCommerce. It should increase security while speeding up transactions because of the new security algorithms.

Part 1: List and discuss the major risk management functions from a project management perspective for the eCommerce project. (15 points)

Part 2: Describe a positive and negative risk event, the related consequences, and the risk response plans for the eCommerce project. (5 points)

Question 13
(TCO 9) Compare and contrast how a scope is created in traditional project management versus one created in agile project management.

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