JAVIER

Lesson 7
What is it that defines a project?
1- Projects are unique
2- Projects are temporary in nature
3- Are completed when the goals are achieved or is no longer viable
4- All of the others +

THE project phases are:

1- Initiating, planning, executing, control and delivery
2- Initiating, planning, executing, control and closing +
3- Design, planning executing, control and delivery
4- None of the others

Among the knowledge areas, we may find:

1- Procurement, communication, human resources and stakeholders +
2- Risk, communication, planning, and stakeholders.
3- Risk, communication, planning and quality
4- None of the others

What is the most important skill a project manager should have?

1- Negotiation skills
2- Influencing skills
3- Communication skills +
4- Problem solving

Which of the following describe the processes in the execution process group?
1- Begins the initiation of the project plans +
2- The project plans are developed
3- The project plans are published
4- The project performance is measured and analyzed.

Marketing asks you to change the access screen to the web so that usernames have a
minimum of 6 characters. This is…
1- Project initiating
2- Normal operations +
3- A project
4- Project execution

A project is considered to be successful when…

1- The product has been manufactured (or the service provided)
2- The project sponsor announces the project completion
3- The product (or service) are deployed to operations
4- The project meets or exceeds the stakeholders expectations +
You're a Project Manager working on getting requirements and performing stimations. What
process group are you at?
1- Planning +
2- Executing
3- Initiating
4- Monitor and control

The following sentences about risks are true but one. Which is the less right?
1- Project risks are uncertain events
2- Should a risk occur, it can have positive and negative effects
3- Unknown risks are threats and nothing can be done with them +
4- Risks that represent more rewards than threatens should be accepted

What is the purpose of the Project Scope Management?

1- Describes and documents a baseline for future decisions
2- Decompose the project deliverables in smaller pieces
3- Describes how the scope will be developped and how to manage changes to it +
4- Describes how to stimate the cost associated to scope changes

Lesson 8

Stakeholders are individuals or groups that can be (or think they can be) affected by…
1- The project decisions
2- The project activities
3- The project results
4- All of the others +

The five steps on Stakeholders management are…

1- Identify, Prioritize, Analyze, Define Strategy and Implement Strategy +
2- Identify, Selection, Analyze, Define Strategy and Implement Strategy
3- Identify, Selection, Prioritize, Define Strategy and Implement Strategy
4- None of the others

The most important on the stakeholder’s management is …

1- … that we are able to identify all of them
2- … that we are able to identify and manage the ones that affect the project +
3- … that we are able to identify and manage all of them
4- None of the others

The strategy to follow with Stakeholders with high power and high interest consists on…
1- Manage them closely +
2- Keep them satisfied
3- Keep them informed +
4- Monitor them
The strategy to follow with Stakeholders with low power and high interest consists on…
1- Manage them closely +
2- Keep them satisfied
3- Keep them informed +
4- Monitor them

Managing expectations…
1- The real important is to be absolutely sincere
2- There's nothing you can do about it. Bad news are always bad news
3- Is extremely important for stakeholders' satisfaction +
4- None of the others

When managing stakeholders…

1- We analyze where they are situated
2- We analyze where they are situated and where we want them to be situated +
3- We analyze where we want them to be situated
4- None of the others

The 3 domains for getting engagement are : 1) Understand needs, 2) Ensure involvement y
3)…
1- Involve them in the project
2- Perform periodic follow ups
3- Manage expectations +
4- None of the others

Collaborative fames as "Remember the future", "Speedboat" and others are used for…
1- Breaking the ice when negotiating with stakeholders
2- Get consensus about options and solutions +
3- Facilitate a better knowledge of the project for the Stakeholders
4- None of the others

The first conflict appears usually in relation with

1- The project cost
2- The project priorities
3- The project resources
4- The project calendar +

When deciding the Project Scope, we are defining…

1- What will be included and what will be excluded +
2- What will included and what resources will be available
3- What will included and what is the deadline
4- None of the others

Lesson 9
The Project Scope Statement's main goal is…
1- Document deliverables, and their acceptance criteria
 2- Agree on what will be de due dates for the deliverables
3- Document goals, deliverables, and the acceptance criteria for the later +
4- None of the others

Thanks to the Project Scope Statement we…

1- have a general description of the project
2- clarify the project's goals for all the stakeholders
3- can solve conflicts about what is and what is not included on the project
4- all of the others +

When changes to the project are requested, we go to…

1- the project contract
2- the project charter
3- project scope charter
4- project scope statement +
5- none of the others

How do we know our project was a success?

1- Checking that the project charter goals have been achieved
2- Through the acceptance criteria for the project deliverables on the PSS +
3- Through the project auditing processes
4- None of the others

On the work breakdown structure…

1- The work is developed at all levels
2- Is a decomposition of tasks in parallel to achieve our goals
3- The work is developed at the lowest level of components +
4- All of the others

The deliverables from the WBS…

1- We better define them with verbs (ie build the main structure)
2- We better define them with a single word
3- We better define them with a noun (ie main structure) +
4- None of the others

The precedence diagramming method…

1- Uses nodes for activities
2- Uses arrows for relations
3- Allows four types of relations Finish to Start, SS, SF, FF
4- All of the others +
The parametric estimation
1- Can be highly precise +
2- Uses parameters that are independent from learning curves
3- Need the support of experts on the parameters
4- None of the others

The reserve analysis

1- Consists on analysing the time-out periods between activities
2- Consists on estimate the tasks duration adding some extra time
3- Is a time buffer that has to be clearly identified +
4- None of the others

Lesson 10
Cost management focuses on …
1- estimating costs, budgeting and controlling the costs +
2- estimating costs and controlling them
3- estimating costs, budgeting, controlling and analysing costs
4- none of others

The parametric technique

1- is used when estimating costs as it is for time estimation +
2- is only used for estimating time for completing activities
3- is only used for estimating costs for activities
4- none of the others

The estimation of costs…

1- needs to be established as soon as possible to know what we can expect
2- is an iterative process that makes estimations to gain accuracy over time +
3- is more accurate at the beginning, when we don't have deviations yet
4- All of the others

All the activities on the WBS…

1- …shall have an ID and be associated to a "cost account"
2- … will be included on the WBS dictionary
3- … are needed for completing the PSS deliverables
4- All of the others +

Is acceptable an estimate with a level of accuracy of +/- 40%

1- No. Estimates should be more accurate in order to be useful
2- Yes, it's acceptable at early stages of the project
3- None of others +
4- Yes, since we are losing accuracy through the project due to deviations
The cost estimation…
1- is more accurate as we keep learning
2- normally grows as risks are realized
3- all of the others +
4- is less accurate at the beginning of the project

The cost baseline includes…

1- the cost of all the activities and the reserves for foreseable risks +
2- the cost of all the activities and the unforeseable risks
3- the cost of the main activities and the unforeseable risks
4- None of the others

The management reserves…

1- are there due to the existence of identified risks
2- are there due to the existence of unknown risks +
3- are there due to the existence of identified and unknown risks
4- all of the others

The cost baseline is also kown as …

1- the “S” curve +
2- the cost curve
3- the initial curve
4- none of the others

1. Who from the following list would be considered a speculator by entering into a futures
or options contract on commodities?
A) Farmer
B) Corn delivery truck driver +
C) Food manufacturer
D) None of the above

2. All of the following are financially engineered products, except:

A) Mortgage +
B) Mortgage backed security
C) Interest only
D) Principal only

3. A mutual fund is engaged in the short term and temporary purchase of index futures, for
purposes of minimizing its cash exposures. Which "use" most closely explains their actions?
A) Risk management +
B) Speculation
C) Reduced transaction costs
D) Regulatory arbitrage