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181. A contractor estimates that a project has a 0.5 probability of 0,000 profit and 0.3 probability of ,000 loss. The expected monetary value of this project is: A. 200000 B. 150000 C. 85000 D. 50000 E. None of the above. ANS: C 182. A project manager who allows the team to make the majority of the decisions is demonstrating a(n) ____ leadership style. A. Laissez-faire B. Boss-centered C. Subordinate centered D. Autocratic E. Demographic ANS: C 183. Historical records during close-out are useful to _____ and _____ for future projects. A. Predict trends, highlight problems. B. Analyze successes, shortfalls. C. Analyze strengths, document results. D. Support litigation, defend claims. E. Justify results, set standards. ANS: A 184. In a fishbone diagram, the effect you are concerned about is placed: A. at the right-hand end of the spine. B. at the end of the diagonal line (i.e. "fin"). C. on a branch of a fin. D. at the left-hand end of the spine. E. None of the above. ANS: A 185. Sound, prudent, but often unsophisticated judgement is called: A. common sense B. rational management C. smoothing D. confrontation E. None of the above ANS: A 186. Which of the following types of specifications gives measurable capabilities of the product: A. functional specifications B. performance specifications C. conformance specifications D. technical specifications E. process capability specification ANS: B 187. A graphical display of accumulated costs and labor hours for both budgeted and actual costs, plotted against time, is called a(n) _____. A. Trend line. B. Trend analysis. C. S curve. D. Percent completion report. E. Earned value report. ANS: C 188. By using Project Risk Management techniques, project managers can develop strategies that do all but which of the following: A. Significantly reduce project risks B. eliminate project risks C. provide a rational basis for better decision making D. identify risks, their impact(s), and any appropriate responses E. None of the above. ANS: B 189. In a flowchart, the diamond form is used to represent: A. a starting point. B. an operation. C. a written report. D. a decision point. E. an end point. ANS: D 190. In small companies, project managers and line managers are: A. Never the same person B. Always the same person C. Sometimes the same person D. Always in disagreement with each other E. Forced to act as their own sponsors ANS: C 191. Make or buy decisions are usually made during the _____ phase of a project. A. Conceptual B. Development. C. Implementation D. Execution E. Close-out ANS: B 192. Managers who adopt a sound, but prudent managerial style are called A. authorization B. conciliatory C. ethical D. judicial E. promotional ANS: D 193. The critical path in a network is the path that: A. Has the greatest degree of risk. B. Will elongate the project if the activities on this path take longer than anticipated. C. Must be completed before all other paths. D. All of the above. E. A and B only. ANS: B 194. There are four general classes of products that the purchasing department seeks to obtain for production. Which is not one of these categories: A. Raw materials B. Standard production items C. Special items D. Items of small value E. Semi-precious materials ANS: E 195. A good team leader must be concerned not only with _____ but also with _____ . A. Long term goals; short term goals B. Organizational goals; personal goals C. Legitimate power; referent power D. Group efficiency; power and authority E. Tasks to be accomplished; needs of the team members ANS: E 196. The project stakeholders should be actively involved with the _____ phase(s) of the life cycle. A. Conceptual B. Development. C. Execution D. Finish E. All of the above. ANS: E 197. The starting point in the development of a top-down PERT/CPM chart is the _____ . A. Project specification tree. B. Customer's deliverable list. C. Customer's milestone dates. D. Work breakdown structure. E. Listing of customer team meeting dates. ANS: D 198. The use of quality circles: A. has proven ineffective in both Japan and the U.S. B. is particularly effective in overcoming labor/management conflicts. C. provides a quick fix for most quality problems. D. allows workers the opportunity to generate solutions for chronic quality problems. E. A and B only ANS: D 199. Which phase of the project life cycle typically has the highest uncertainty and risk associated with it? A. concept B. development C. execution D. conclusion E. All of the above. ANS: A 200. Your sponsor announce to you and your team that his/her door is open to everyone wishing to discuss project problems. Yet, the sponsor seems to be annoyed whenever someone does stop by, even when discussing a serious problems. This is an example of. A. semantics B. credibility C. inconsistent signals D. perceptual differences E. misunderstood role ANS: C
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