Question

rroject Manager You are required to estimate the time to paint a large wall. You know it takes two hour one square foot of wall. The wall has an area of 30 square foot. So you estimate that hours to paint the wall. Which estimation model are you using? A) Bottom-up J S , J UB Parametric C) Analogous v ie j oy - D) Expert judgment Cost baseline is usually represented using which curve or line? A) S or Progress Curve B) Run Curve C) Pareto Diagram D) Straight Line Your project is running late. To bring the project on schedule, you decide to add additional resources to the critical path. This is an example of: A) Fast-tracking B) Resource planning C) Crashing D) All of the above You are the Project Manager of ABC project. The project is being executed in an earthquake- prone area. To take care of this you buy insurance for earthquakes. This is an example of: A) Acceptance B) Sharing C) Mitigation D) Transfer You are managing the project of planning a party for your company employees. There is a risk that the employees will not come to the party. You decide to not take any action against this as the likely-hood of this is low. Which risk response strategy are you following? A) Acceptance B) Avoidance C) Mitigation D) Transfer Which of the following indicate that the project is doing well? Select the best option. | A) Negative CV B) SPI of less than one C) Negative SV D) CPI of greater than one Antal budget cost for the project is $1,500. You have reached the planned half way mark. The C/ Louroudy sment SUAD

solv

Answer 1

Q1) B) Parametric

Explanation: parametric estimation uses the relationship between the variables to estimate duration or cost. A parametric technique is determined by identifying unit cost or duration and the number of units required by project.

Q2) A) S or progress curve

Explanation: We use S curve to show cost baseline. The cost is low in the beginning and end , and high in the middle of the project..

Q3) C) Crashing

Explanation: All the options above can get the project on schedule.But we choose crashing as the correct option because it involves addition of extra resources to reduce duration. This fulfillment is same as what is required in the question. Where as fast tracking involves overlapping of activity to reduce duration.

Q4) D) Transfer

Explanation: We use insurance to transfer the risk from us to the insurance company. In this case by taking insurance , we are tranfering the risk to the insurance company. By taking insurance we are compensated at the time of any damage.

Q5) A) Acceptance

Explanation: By not taking any action against the employees, we are accepting the risk , as the probability of it happening is low.

Q6) D) CPI of greater than 1

Explanation: A CPI greater than 1 means the project is under budget and is a favourable situation.

Other options do not show that the project is doing well.