week 4

Question 1

Resource Planning

Answer 1

Identifying and allocating the necessary personnel

Question 2

Budget Planning

Answer 2

Calculating costs

Question 3

Procurement Planning

Answer 3

Planning for the acquisition of goods and services required for the project.

Question 4

Communication Planning

Answer 4

Developing a strategy for communicating effectively with stakeholders.

Question 5

Risk Management

Answer 5

Identifying Risks and Mitigating them

Question 6

Earned Value Management (EVM)

Answer 6

Measures project performance by comparing planned vs. actual costs and progress.

Question 7

Project Baseline

Answer 7

The original plan for scope

Question 8

Make-or-Buy Decision

Answer 8

Determining whether to produce in-house or purchase externally.

Question 9

Fixed Price Contract

Answer 9

A contract type where the price is fixed regardless of costs incurred.

Question 10

Cost-Reimbursable Contract

Answer 10

A contract type where the contractor is reimbursed for costs plus an additional profit.

Question 11

Time and Materials Contract

Answer 11

A contract where payments are based on time spent and materials used.

Question 12

Resource Leveling

Answer 12

Adjusting resource allocation to avoid over-allocation and scheduling conflicts.

Question 13

Stakeholder Communication

Answer 13

Planning and managing information exchange with project stakeholders.

Question 14

Risk Register

Answer 14

A document listing identified risks

Question 15

Contingency Planning

Answer 15

Creating plans for handling unforeseen project events or risks.