PM cards 11th 20

Question 1

What are prevention costs?

Answer 1

The costs of keeping defects out of the hands of the customers.

Question 2

What are appraisal costs?

Answer 2

The activities performed to examine the product or process and make certain the quality requirements are being met.

Question 3

What are failure costs?

Answer 3

The cost of activities needed if the product fails.

Question 4

What are external failure costs?

Answer 4

when the product has reached the customer and they determine it doesn’t meet their requirements.

Question 5

The specific quality techniques you’ll use on the project should be documented in the _______________.

Answer 5

Quality management plan.

Question 6

What is the quality management plan?

Answer 6

It describes how the project team will carry out the quality policy.

Question 7

When is the quality management plan constructed?

Answer 7

During the Planning Process Group.

Question 8

This plan will be the basis for performing quality control when you are in project execution.

Answer 8

Quality management plan.

Question 9

What methods are commonly used when measuring whether quality standards have been met?

Answer 9

Quality metrics, quality checklists, exit criteria

Question 10

A _________ is a potential future event that can have either negative or positive impacts on the project.

Answer 10

risk

Question 11

What is risk planning?

Answer 11

Deals with how you manage the areas of uncertainty in your project.

Question 12

What are the three major components of risk planning?

Answer 12

identifying the potential risks to your project, analyzing the potential impact of each risk, and developing an appropriate response for those risks with the greatest probability and impact.

Question 13

What is risk identification?

Answer 13

the process of determining and documenting the potential risks that could occur on your project.

Question 14

What is risk analysis?

Answer 14

the process of identifying those risks that have the greatest possibility of occurring and the greatest impact to the project if they do occur.

Question 15

What is the output from risk identification?

Answer 15

A risk list.

Question 16

What two ways can you approach risk analysis?

Answer 16

Qualitative or Quantitative.

Question 17

The first step after identifying the risks in the risk list is to determine their _______________ and ___________.

Answer 17

probability and impact

Question 18

What is a probability impact matrix?

Answer 18

Used to calculate the final risk score for each of the risks on your list.

Question 19

The final risk score on the probability impact matrix is determined by multiplying ___________ by _______________.

Answer 19

probability x impact

Question 20

The closer the risk score is to 1.0, the (more likely/less likely) the risk will occur and have a significant impact on the project.

Answer 20

more likely

Question 21

The last step in the risk process is _______________.

Answer 21

Risk Response Planning.

Question 22

What is risk response planning?

Answer 22

The process of reviewing the risk analysis and determining what, if any, action should be taken to reduce negative impacts and take advantage of opportunities as a result of a risk event occurring.

Question 23

What are the strategies for dealing with negative risks?

Answer 23

Avoid, transfer, mitigate, and accept.

Question 24

What are the strategies for dealing with positive risks?

Answer 24

Exploit, share, enhance.

Question 25

What is contingency planning in regard to risk response?

Answer 25

Involves planning alternatives to deal with risks should they occur.

Question 26

What is a risk register?

Answer 26

Includes the risk description, probability, impact, risk score, whether the risk has a response plan and the risk owner.

Question 27

What is a risk owner?

Answer 27

Someone responsible for monitoring the risks assigned to them and watching for risk triggers.