Quiz #5 Flashcards
- What are the goals of contract closeout? (Choose three)
□ To arrange for final settlement of seller payments and claims.
□ To verify work was done and delivered to specification.
□ To provide performance evaluation of seller staff.
□ To update contract records and documents.
References:PMBOK 6th Edition, 4.7- and 12.3.3.7 Organizational Process Updates
□ To arrange for final settlement of seller payments and claims.
□ To verify work was done and delivered to specification.
□ To update contract records and documents.
References:PMBOK 6th Edition, 4.7- and 12.3.3.7 Organizational Process Updates
- In what situation would you not perform the Close Project or Phase process?
□ When a project is terminated.
□ When a project phase is complete.
□ When the customer validates the interim deliverables.
□ When a project is complete
□ When the customer validates the interim deliverables.
References:PMBOK 6th Edition, 4.7.3.4 Project or phase closure documents.
- If the project was terminated early, why would the project manager insist that the team
perform the Close Project or Phase process?
□ To document the reasons why the project was terminated early, and how to transfer the
finished and unfinished deliverables to others.
References: PM BOK 6th Edition 4. 7 Close project or phase introduction,
□ The project manager should insist this is a waste of the team members’ time since
no one wants the project or its output any longer.
□ To make sure everyone knows that the reason for project termination was his fault
or the fault of the team.
□ To document lessons learned so mistakes won’t be repeated in future projects.
✓ To document the reasons why the project was terminated early, and how to transfer the
finished and unfinished deliverables to others.
References: PM BOK 6th Edition 4. 7 Close project or phase introduction,
- The project manager wants to make sure all team members understand the
importance of the whole closing process and asks if there are any more questions. One
team member asks, 11What would happen if this process was not done?11 How should the
project manager answer that question?
□ The customer would not be obliged to pay for the project.
□ The next related activity, phase, or project might not get started.
□ The stakeholders would not have any faith in the project team for future projects.
□ The team members would not be allowed to be assigned to future projects.
✓ The next related activity, phase, or project might not get started.
References: PM BOK 6th Edition 4. 7 Close project or phase introduction
- In a large organization that utilizes a Project Management Office (PMO), who is
responsible for managing the governance of projects?
□ The project managers of the individual projects within the PMO.
□ ThePMO.
□ The organization’s Governance Committee.
□ The organization’s Change Control Board.
✓ ThePMO.
References: PMBOK 6th Edition. Glossary, definition
- In a multi-phase project, which of the following terms refers to a decision to continue
with the next phase or to end the project? (Choose two.)
□ Kill point
□ Phasegate
□ Threshold
□ Go/No go point
References: PMBOK 6th Edition 1.2.4.3, Phase gate
✓ Kill point
✓ Phasegate
References: PMBOK 6th Edition 1.2.4.3, Phase gate
- When can the contract closeout occur?
□ At the end of a project only.
□ Whenever a contract is completed and accepted.
□ At the end of a project only, unless the project is terminated early.
□ Whenever a seller is selected.
✓ Whenever a contract is completed and accepted.
References: PMBOK 6th Edition 4.7 Close project or phase
- An architectural firm has spent a great deal of time and effort creating the design and
blueprints for the building. They had to purchase materials and hire consultants and have
been working on this project for six months. They have submitted all the invoices for the
money they have spent on the work, as well as an invoice for the fee of $5,000. What type
of contract was this?
□ Time and materials
□ CPIF
□ FPEPA
□ Cost-reimbursable
✓ Cost-reimbursable
References: PMBOK 6th Edition 12.1.6 Organizational process assets
- You inform the project sponsor that the project management plan will continuously
increase in the level of detail as the project moves forward. In project management, what
is this process known as?
□ Life cycle.
□ Progressive elaboration.
□ Resource planning.
□ Scope creep.
✓ Progressive elaboration.
References: PMBOK 6th Edition 5.3 Define scope introduction
- Lusala wants to review the latest version of a vendor contract, but he has to dig
through piles of originals, revisions and correspondence. What would have prevented this
problem?
□ A records management system.
□ He should have shred obsolete papers.
□ Integrated change control.
□ Information technology.
✓ A records management system.
References: PMBOK 6th Edition 2.3.2 Organizational knowledge repositories
- You are in the process of Source Selection for a contract for your project. You are
planning to use weighing process for source selection. There are four vendors being
considered. There are two deciding factors price (weightage 40), quality (weightage 60).
The scores of four vendors that your team has computed are displayed in the table below.
Which vendor will among these four should be chosen?
Vendor scores
Vendor 1 2 3 4
Price 8 10 12 11
Quality 12 10 8 11
□ Vendor 1
□ Vendor 2
□ Vendor 3
□ Vendor4
✓ Vendor4
References: PMBOK 6th Edition 12.1.3.5 Source selection criteria
- You are planning to use screening system for source selection process to select a
vendor for supplying food for your company? Which of these is a good example of
screening system?
□ You interview all the vendors and decide based upon the interviews.
□ You negotiate with all the vendors and select the one that provides the best price.
□ You only consider those vendors who have revenue of ten million dollars in the last
financial year.
□ You select the vendor who responds first to your advertisement.
✓ You only consider those vendors who have revenue of ten million dollars in the last
financial year.
References: PMBOK 6th Edition 12.1.3.5 Source selection criteria
- The business determines that the project you are managing must be based on a plan
driven project management approach. This is partially due to the SMART objectives the
steering committee has set for the project. In the acronym SMART what does the A stand
for?
□ Awesome
□ Accepted
□ Achievable
References: PMBOK ref nil,
□ Adjusted
✓ Achievable
References: PMBOK ref nil,
- Which of the following is not true about the Close Project or Phase process?
□ Contract closeout must be performed after the Administrative Closeout.
□ The risk is the lowest at this stage of the project.
□ The probability of completion is the highest at this stage of the project.
□ Stakeholders have least amount of influence at this stage.
✓ Contract closeout must be performed after the Administrative Closeout.
References: PM BOK 6th Edition 4. 7 - Close project or phase
- Your organization is very busy in the finance planning cycle. To prepare for your
budget presentation to senior management, you have scheduled time throughout the day
to prepare for your presentation, which is scheduled for the morning of the next day.
Late in the day, you receive a phone call from one of your team member’s managers. He
would like to have comments regarding the team member’s performance for her
performance assessment, which is scheduled for the morning of the next day. You should:
□ Decline politely and request that the manager please give you more notice next
time.
□ Explain your current project situation to the manager and negotiate a date for your
input.
□ Decline politely and explain to the manager that the budget is a higher priority.
□ Ignore the manager’s request and hope he forgets that he asked you
✓ Explain your current project situation to the manager and negotiate a date for your
input.
References: PMBOK ref nil.
