1. You are the project manager for a high visibility project. The margin on this project is low, and it is extremely important that the cost estimates for the work on the project be accurate. While reviewing the cost estimates for this project you notice that one of the cost estimates for an element in the WBS is 10% higher than two previous projects for very similar work. What should you do?

In managing international, multinational and transnational projects, all of the following could present communication challenges, except:

A temporary endeavor undertaken to create a new product or service is called a ______.

With respect to global projects, which of the following is the most accurate?

Which type of project cost estimate is the most accurate?

Changes to the project are common in certain types of projects, especially when they involve new technology.
Project modifications should be reflected in the______ .

Each time the client or the project sponsor requests a change to the project, the project manager asks the team to do an impact analysis and then calls a meeting of the change control board. Which of the following statements is true?

Your project has changes to the project charter. Who has the primary responsibility to decide if these changes are necessary?

You are the project manager for a seller who has been selected to construct an industrial kitchen for a large food service company. Before the contract negotiations, the buyer confides in you that design is not finalized, and they want you to begin work with incomplete specifications. What type of contract should you ask for during contract negotiations?

Which of the following the project manager is not responsible for?

You observe that a team member is repeatedly completing tasks with errors, resulting in rework. On investigation of the past track record, it is established that the individual does not have a skill gap. What should the project manager do?

After a schedule change in a project, the total float is calculated to be less then zero. This tells us ______.

Which of the following would facilitate a larger participation of sellers against an invitation to bid?

Which of the following is not true about project charter?

Which of the following is the BEST example of a reward system?

While you are in the execution phase of a project, a hurricane caused power outages just when the upgrade was near completion of first phase. When the power was restored, all the project reports and historical data were lost with no way of retrieving them caused by the power and flooding situation. What should have been done to mitigate this risk?

When is the right time to conduct quality assurance audits in an ongoing project?

The project manager for a construction project discovers that the local city council will vote on a zoning change that would open up a new neighborhood to commercial building. She contacts other construction companies in the area that would benefit from the change to ask them to attend the council meeting in order to convince the city council to vote for the change. A “Yes” vote will benefit all of the companies. This is an example of which risk response strategy?

Your team has identified a risk with some of the chemicals you are using on your highway construction project. It is really difficult to mix them just right and, based on past projects, you’ve figured out that there’s a high probability that about 14% of the chemical supply will be lost in mixing problems. You decide to buy an extra 15% of the chemicals up front so that you will be prepared for those losses and your project won’t be delayed. Which response strategy are you using?

You are trying to decide whether or not to contract out a construction job. To do it within your company, you will have to hire an engineer for $35,000 and pay a construction team $15,000 per week. A Contractor quotes you a price of $ 19,000 per week, and your expert agrees that you will not be able to find a price lower than that. The job will take 16 weeks.