Agile Practice Guide Q's (1) PDF

**Week 5** When doing qualitative risk analysis, how should you analyze opportunities? A. Ignore, no need to analyze opportunities B. Using the same scales as threats C. Follow the approach in the risk management plan D. All opportunities are low impact and low likelihood Correct Answer: C...

**Week 5** When doing qualitative risk analysis, how should you analyze opportunities? A. Ignore, no need to analyze opportunities B. Using the same scales as threats C. Follow the approach in the risk management plan D. All opportunities are low impact and low likelihood Correct Answer: C After responding to a risk by avoiding the risk event, you should next: A. Calculate the residual risk B. Calculate the secondary risk C. Update the project scope D. Do nothing Correct Answer: C One of the benefits of doing quantitative risk analysis is... A. It is quick to do B. Does not require technical skills C. Provides precise results D. Allows for the analysis of interrelated risk events Correct Answer: D You are looking to make a decision about three options: Option A: 30% chance of success resulting in \$20,000 profit, if it fails, you lose \$5,000 Option B: 20% chance of success resulting in a \$50,000 profit, if it fails, you lose \$10,000 Option C: 80% change of success resulting in \$10,000 profit, if it fails, you lose \$20,000 Using EMV, which option would you pick? A. Option A B. Option B C. Option C D. Cannot determine Correct Answer: C To use the simple simulation approach which of the following must be present: A. The activities are dependent B. There are two or more critical paths C. The result is a normal distribution D. The standard deviation can be summed Correct Answer: C A critical path has the following two activities: Activity X with standard deviation of 3 Activity Y with standard deviation of 4 What is the standard deviation of the critical path? A. 4 B. 5 C. 6 D. 7 Correct Answer: B As part of the risk planning for your project, you have created an emergency call-out list for the team. This is an example of: A. Mitigation B. Contingency plan C. Fallback plan D. Workaround plan Correct Answer: B **Week 6** You are reviewing your email and there is another request from the client. You reviewed the request, and it looks like there is a change in the project scope. What should you do? A. Delete the email B. Start changing the requirements to address the email C. Reply that the requirements are frozen D. Work with the client to complete a change request Correct Answer: D What is not some of the activities you can do to help reduce scope changes? A. Ensure all requirements are collected B. Validate the scope C. Use earned value D. Follow the change process Correct Answer: C Your sponsor wants you to use earned value to report on the project, but the project is only 3 months in duration. You have well-defined deliverables, but no metrics. What approach should you use to calculate EV? A. Measurement B. Percent from staff C. Calculated Percent D. 0/100 Rule Correct Answer: B The best time to use the method of calculating EAC as AC + (BAC-EV) is when: A. You do not have much time B. When you need to meet the BAC C. When you expect the trend for spending to continue D. When there is a one-time event that caused the variance Correct Answer: D \_\_\_\_\_\_\_\_\_\_\_ is an analytical technique that uses mathematical models to forecast future outcomes based on historical results. A. Earned value analysis B. Reserve analysis C. Trend analysis D. Variance analysis Correct Answer: C In Variance analysis, what should you do before you look at risks and scope creep? A. Implement corrective actions B. Check the actuals C. Do a root cause analysis D. Check the schedule Correct Answer: B Why is it important to get the acceptance of all the project deliverables? A. To help ensure project success B. To hold the project celebration C. To avoid contract problems D. To keep your colleagues quiet Correct Answer: A Not another change request! Your project contingency fund can only absorb so much. You have had a number of risks occur on the project already that were accepted. You have set up a meeting with the project sponsor to discuss this change request, but you are not concerned about the project budget. Why? A. You still have contingency B. The sponsor will say no to the change request C. The funds come from the management reserve D. You are running under budget Correct Answer: A **Week 5 & 6** You are currently identifying risks for your project. Your main objective is to be on time. One of your team members has commented that you are using new staff on your project which could cause the project to be late. What is wrong with using this risk description? A. The risk event is missing B. There is no cause for the risk C. It does not impact the project objective D. Nothing is wrong this is a good risk Correct Answer: A You are considering how to respond to the identified project risks. For your project, you are using the following probability and impact matrix and your risk threshold is for and above. You have a risk with a score of four. In looking at response options, you determine that you can mitigate the risk at a cost of \$10,000, but this will just reduce the risk score to three. You estimate the risk value for a score of three is \$5,000 and a score of four is \$10,000 what should you do? A. Accept the risk B. Transfer the risk C. Avoid the risk D. Mitigate the risk Correct Answer: A You are discussing with the project manager the pros and cons of doing quantitative analysis for your project. You are working on a short duration project with one other team member. You are recommending just doing qualitative risk analysis because... A. You can complete the risk analysis sooner B. You will have to use complex software C. You can get more precise impact and probability D. You can analyze combined effects of project risks Correct Answer: A You were calculating the risk value for the risk of bad weather on your project. You have looked at the weather forecast and determined the following: - Severe thunderstorm 1% chance with a cost of \$100,000 - Heavy rain 9% chance with a cost of \$10,000 - Light rain 20% chance with a cost of \$2,000 Using EVM what is the risk value? A. Cannot be determined B. \$2,300 C. \$11,300 D. \$1,000 Correct Answer: B You just taken over a project and you want to implement EVM on the budget. Which of the following is not required? A. BAC B. Work packages C. Actuals which are tracked D. Resource assignments Correct Answer: D You are performing EVM on a project to develop a new website. You need to have a quick process as you will have to calculate the earned value every two weeks over the next 10 months. The team has identified about 30 web pages to be coded and tested. What approach should you use to deal with the pages the staff have started but not finished on each status date? A. Use 0%-50%-100% approach B. Ask the staff for a percentage complete C. Use the cost to date for incomplete web pages D. Ask the staff for an estimate to complete Correct Answer: A You are designing a change control system for your project. What steps should you include in the change control system? A. Evaluate the change and updated RACI chart B. Change approval and update the risk register C. Identify the change and evaluate the change D. Identify the change and updated baseline Correct Answer: C Results of a project schedule simulation show that the mean duration for completing your project is 50 days and a standard deviation is 10 days. If you have a constraint duration of 85 days, what should you communicate to the client? A. It\'s guaranteed, but the farm on it, take it to the bank B. There is an excellent chance that the project will be completed in less than 85 days C. It will be close, but doable with some good luck and support D. Hard to say at this time, ask me again in a couple of weeks Correct Answer: B For simple simulation to determine the mean and standard deviation of the project schedule, you need the following key characteristic: A. You have an analogous estimate B. All the tasks are depending on each other C. The mean is the pessimistic less optimistic D. There is only one critical path Correct Answer: D Your team has worked hard, and you have the results from the simulation of your project schedule. You are excited about this development as you can stop using level of accuracy qualifier statements, which the stakeholders are not understanding. In addition, you can use the simulation to... A. Identify the revised critical path B. Calculate the schedule contingency C. Determine the value of risk management D. Revise the budget Correct Answer: B For your project, you have a very high risk tolerance. You have responded to some of the risks, but accepted most of the risks. What should you do as you move into the execution phase of the project? A. Develop fallback plans B. Implement workarounds C. There is nothing more you can do D. Use back up plans Correct Answer: A Which one of the following statements is a common mistake of project control? A. Implementing an integrated project control system B. Have a balanced approach in reviewing all project items C. Providing excessive control on the primary focus D. Focus on long-term objectives of project success Correct Answer: C You need to get to the bottom of this variance and decide to do a root cause analysis. You have gathered the team together for a brainstorming session. What is the first thing you should do before the meeting starts? A. Perform the 5 whys B. Prepare a change request C. Define the problem D. Collect data Correct Answer: C You need to reduce the total cost of a small renovation project. You have reviewed the estimates and found small errors, but you are still over budget. Now what? You have no control over the resources, as they are assigned to you and it does not matter, as they all have the same rate by skill. What should you do? A. Review estimates for errors B. Use procurement C. Swap materials D. Swap resources Correct Answer: C You have a cost variance on your project for a specific work package. You have confirmed the actuals are correct and check the estimate for errors. What should you do next? A. Do a root cause analysis B. Check for risks that might have occurred C. Implement corrective actions D. Prepare a change request Correct Answer: B A tracking Gantt Chart will show the following information not found on a normal Gantt Chart: A. Start date B. Planned duration C. Baseline D. WBS number Correct Answer: C