Liberty BUSI 313 Quiz 3 Answers Complete Solutions

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Question 1 The attempt to recognize and manage potential and unforeseen trouble spots that may occur when a project is implemented is known as

Question 2 Enhancing a risk is a tactic that seeks to eliminate the uncertainty associated with an opportunity to ensure that it definitely happens.

Question 3 Fixed­price contracts are an example of transferring risk from an owner to a contractor.

Question 4 Which of the following is NOT included in a Failure Mode and Effects Analysis?

Question 5 After your team has successfully identified potential risks that could affect the project, what is the next step?

Question 6 Adopting proven technology instead of experimental technology is an example of mitigating a risk.

Question 7 If, during risk response development, you successfully identify how you will respond to a risk, contingency planning is unnecessary.

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Question 8 The probability that a risk event will occur is higher during the initial stages of a project.

Question 9 Regina’s boss has told her that her project is very important. If the critical path is delayed, she will be given whatever she needs to get it back on schedule. Her project is classified as ________ constrained.

Question 10 Gene is trying to order the concrete needed to continue his project. However, the supplier will not be able to deliver it until next week. This is an example of what kind of resource constraint?

Question 11 Rachel is working on a project that technically allows three activities to be done at the same time. If they were to be implemented at the same time, she would need 5 contractors in order for the activities to be completed on time. There are only 3 available for her to use. This is an example of what type of constraint?

Question 15 In a resource­constrained project, the first priority in assigning resources is usually given to activities with the

Question 16 Sequential activities hold just as much potential for resource conflicts as parallel activities.

Question 17 These are all guidelines a project manager should consider when assigning project work EXCEPT

Question 18 The higher the cost slope of an activity the lower the cost to reduce its duration.

Question 19 One of the advantages of using a Project Cost­Duration Graph is that it keeps the importance of indirect costs in the forefront of decision making.

Question 20 When reducing project duration, there will always be an optimum cost­time point where the total cost of the project is less than it was when the project was initially planned under normal conditions.

Question 21 When reducing project duration, the crash cost per unit has to be calculated and the maximum units each activity can be reduced must be known. After this, the critical path must be identified. What is the next step?

Question 22 The cost slope of an activity is calculated by dividing the run by the rise.

Question 23 According to Brooks’ Law, adding more people to a late project is most likely to have which of the following impacts?

Question 24 Reducing project duration

Question 25 As a project is crashed and project duration is reduced, direct costs typically