PRM524 Midterm Exam

1. As a project manager, when should you especially consider cultural differences?

Question 1 options:

When you break down scope to create a work breakdown structure (WBS).

When you assign human resources to do the work in a schedule activity.

When you develop acceptance criteria for work results to be achieved by the team members.

When you decide upon recognition and awards during team development.

2. As the project manager in a currently initiated software project , you want to assess high-level risks. What should you do?

Develop the project charter and a risk management plan to start identifying risks based on those and other documents.

Develop contingency plans and fallback plans in case the original plan proves wrong.

Discuss the risks documented in your Risk Register with the project key stakeholders.

Identify and analyze risk events using qualitative and quantitative techniques

3. Your organization is considering to run a project which will entail an investment of $1,000,000. The product from the project is forecasted to create revenues of $250,000 in the first year after the end of the project and of $420,000 in each of the two following years. What is true for the net present value of the project over the three years cycle at a discount rate of 10%?

The net present value is positive, which makes the project attractive.

The net present value is negative, which makes the project attractive.

The net present value is negative, which makes the project unattractive.

The net present value is positive, which makes the project unattractive.

4. Which of the following documents is not used as input for the validate scope process?

The requirements traceability matrix, linking requirements to their origin and tracing them throughout the project lifecycle.

The RACI matrix describing accountabilities in case of product rejection.

The validated deliverables completed and checked for correctness by the perform quality control process.

The project management plan, containing the scope baseline consisting of the project scope statement and its associated WBS and WBS dictionary.

5. You are in the process of contacting sellers to obtain bids and proposals. You found out that it might become a time-consuming procedure to ensure that the sellers get a clear and common understanding of the procurement process and of the needs of your project. Which technique may help you save time?

Four-eyes meetings

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Bidder conferences

Qualified sellers list

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