Deck 11: The Core Skills

Question 1

It is commonly understood that there is a difference between managers and leaders.

Answer 1

True

Question 2

Technical competencies largely deployed within the delivery domain need to be understood by project leaders working in the owner and supplier domains.

Answer 2

True

Question 3

Planning stops at the Define stage as greater levels of detail as the WBS is developed, budgets are finalized and schedule refined.

Answer 3

False

Question 4

What fundamental question does process of planning answer:

A) What needs to be done in a project?
B) Who will deliver a project?
C) How much will a project cost?
D) How are we going to deliver the outputs specified in the Project Execution Plan?

Question 5

Matching
Earned Value Analysis takes into consideration three measures and questions a project manager asks:
-Earned Value (EV)

A) Actual spend to date. How much did we spend to complete the work?
B) Budgeted cost of work completed at specific point in the schedule. How much work have we actually completed?
C) What ought to have been spent at a specific point in the schedule according to the budget. How much work did we plan to complete?

Question 6

Matching
Earned Value Analysis takes into consideration three measures and questions a project manager asks:
-Planned Value (PV)

A) Actual spend to date. How much did we spend to complete the work?
B) Budgeted cost of work completed at specific point in the schedule. How much work have we actually completed?
C) What ought to have been spent at a specific point in the schedule according to the budget. How much work did we plan to complete?

Question 7

Matching
We measure execution performance by comparing current performance against the Project Execution Plan. This comparison results in one of the three options for action:
-Continue with the plan unchanged

A) if the original plan is no longer achievable due to new information becoming available.
B) if performance aligns with the PEP
C) if the plan and performance do not align

Question 8

Matching
We measure execution performance by comparing current performance against the Project Execution Plan. This comparison results in one of the three options for action:
-Take corrective action

A) if the original plan is no longer achievable due to new information becoming available.
B) if performance aligns with the PEP
C) if the plan and performance do not align

Question 9

Matching
We measure execution performance by comparing current performance against the Project Execution Plan. This comparison results in one of the three options for action:
-Revise the PEP

A) if the original plan is no longer achievable due to new information becoming available.
B) if performance aligns with the PEP
C) if the plan and performance do not align

Question 10

Graphical scheduling technique that acts as boundary objects between teams:

A) Critical path method
B) Critical chain
C) Gantt charts
D) Critical space analysis

Question 11

Budget estimation is a linear and completely accurate process carried out at the beginning of a project.

Question 12

Matching
Four methods for estimating costs can be broadly identified:
-Ballpark

A) where cost estimates are developed by comparing to past similar projects to provide outside view with the aim of reducing the variance
B) where estimates are established from preliminary engineering work with an accuracy range of approx.70 percentage points
C) which provides estimates based on the work during the Define stage with an accuracy range of approx.38 percentage points
D) usually used early in the life cycle when there is very limited information or time to prepare with an accuracy range of approx.90 percentage points

Question 13

Matching
Four methods for estimating costs can be broadly identified:
-The PDP

A) where cost estimates are developed by comparing to past similar projects to provide outside view with the aim of reducing the variance
B) where estimates are established from preliminary engineering work with an accuracy range of approx.70 percentage points
C) which provides estimates based on the work during the Define stage with an accuracy range of approx.38 percentage points
D) usually used early in the life cycle when there is very limited information or time to prepare with an accuracy range of approx.90 percentage points

Question 14

Matching
Four methods for estimating costs can be broadly identified:
-Comparative

A) where cost estimates are developed by comparing to past similar projects to provide outside view with the aim of reducing the variance
B) where estimates are established from preliminary engineering work with an accuracy range of approx.70 percentage points
C) which provides estimates based on the work during the Define stage with an accuracy range of approx.38 percentage points
D) usually used early in the life cycle when there is very limited information or time to prepare with an accuracy range of approx.90 percentage points

Question 15

Matching
Four methods for estimating costs can be broadly identified:
-The PEP

A) where cost estimates are developed by comparing to past similar projects to provide outside view with the aim of reducing the variance
B) where estimates are established from preliminary engineering work with an accuracy range of approx.70 percentage points
C) which provides estimates based on the work during the Define stage with an accuracy range of approx.38 percentage points
D) usually used early in the life cycle when there is very limited information or time to prepare with an accuracy range of approx.90 percentage points

Question 16

Managing conformance is an iterative process that needs to be tailored to each project.