BEC MCQ 6.2

Question 1

Comparing the project work completed to date to the baseline defined in the plan occurs

Answer 1

In the monitoring phase

Question 2

Baseline is developed during

Answer 2

Planning process

Question 3

Project work activities are completed during

Answer 3

Implementation process

Question 4

Baseline includes

Answer 4

Project deliverables
Amount of time required to complete the project
Attributes to be excluded from the project

Question 5

Major process undertaken by a project manager

Answer 5

Project authorization including securing a project character and a statement of work is a major process undertaken by project manager
Project planning including development of the course of action is a significant process undertaken by the project manager
Closing or otherwise securing agreement that the project objectives have been met is major process undertaken by project manager
Project manager is responsible for project administration on a day to day basis including indentifying and managing internal and external stakeholder expectations

Question 6

Project members responsibility

Answer 6

carrying out the work and producing the deliverables

Question 7

Project sponsor

Answer 7

Interfacing between the organization and project itself is the responsibility of project sponsor

Question 8

Approving project deliverables

Answer 8

is the responsibility of executive steering committee. He is the individual at the executive level of management who is responsible for funding and resource allocation to the project. The role of project sponsor includes responsibility of overall project delivery. He will not be reporting to board of directors but to the steering commitee

Question 9

Stages in project management

Answer 9

Authorisation
Planning
Implementation
Monitoring
Closing

Question 10

Planning

Answer 10

Planning involves all the activities necessary to determine the scope of the project.

Question 11

Implementation

Answer 11

Assure quality activities that are necessary to complete the work

Question 12

Project Risk

Answer 12

Trade off between risk and return

Question 13

Methods of estimating cots

Answer 13

Judgement- Manager consider a combination of historical information and cost of materials and labor
Parametric estimation- Statistical estimation between historical costs and other variables. Examples includes Regression analysis and learning curve model.
WBS- estimate- Bottom up analysis
Three point estimates- Range of cost estimates
Reserve analysis-Monetary padding for uncertain cost estimations
Project management software- Include a feature that can be estimated to project costs
Vendor bid analysis- Vendor will bid on the work and the contract will be awarded
Earned value management- Planned value, earned value, actual cost, Estimate at completion, Cost performance Index=EV/ AC IF CPI is less than one then the project is over budget

Question 14

Deleverables

Answer 14

The product or service the project must deliver
S-Specific 
M-Measurable
A- Attainable
 R- Relevant
T- Time based