Question

33) Span of control refers to: A) The number of departments involved in a project. B) The number of days that the project manager is allowed to complete the project. C) The number of levels from top to bottom in an organization D) The number of employees one person supervises. 34) A writer estimates it will take three months to generate spiffy documents to accompany a seminal work in operations management. He grossly underestimates the time required and misses his deadline by two months. This estimate was: A) Objective and inaccurate. B) Objective and accurate. C) Subjective and accurate. D) Subjective and inaccurate. 35) The firm set aside a little extra money just in case an unforeseen element of cost pushed the project beyond what they had budgeted. This extra money is called A) A contingency reserve. B) An escalation clause. C) A sinking fund. D) A rainy day fund. 36) With a failure to secure personnel releases from functional managers, a project manager should A) Relinquish project leader status, B) Adjust schedules and scope documents. C) Abandon the project. D) Proceed as originally planned. 37) If the risk of a negative outcome is slight, the BEST course of action might be to: A) Transfer it. B) Minimize it. C) Share it D) Accept it. 38) A statement of work identifies: A) A need C) Members of the project team. B) A project organization D) Alternatives. 39) Which of these is more characteristic of a manager? A) State their position C) Focus on people B) Develop new processes D) Originate 40) Which statement regarding the Project Management Institute's Project Management Body of Knowledge (PMBOK) is BEST? A) Project risk management is part of the integration section. B) The institute's position that a properly planned project will not require any changes precludes the need for change control in the model. C) The PMBOK consists of seven knowledge areas of project management skills and activities. D) Each element of the iron triangle is represented by its own area.

Answer 1

33. Span of control is term used in business management, particularly human resource management which refers to the number of employees one person supervises.

34. D) Subjective and Inaccurate.

35. A) A Contingency reserve.

36. D) Proceed as originally planned.

37. D) Accept it.

38. B) A project organization.

39. C) Focus on people.

40. A) Project risk management is part of the integration system. It is an important aspect of project   management. According to Project Management Body of Knowledge, Risk management is one of the ten knowledge areas in which a project manager must be competent.