C722 WGU Project Management (IPO1)

45. A fund management firm prepares a responsibility matrix for a new tax management/consultation project; the company wants adequate staffing for upcoming requirements. Which activity of the responsibility matrix is being conducted?

A. Identify new activities of the new domain

B. Identify the need for adequate personnel

C. Identify required skills

D. Identify the requirement for additional training

46. A project manager is estimating costs of an upcoming project using the WBS. Which cost estimation technique is being used?

A. Function point method

B. Consensus method

C. Parametric method

D. Apportionment method

47. A contractor will be responsible for all programming, and Acme stipulates the contractor must correct any code errors. How is Acme addressing the risk?

A. Risk Acceptance

B. Risk Avoidance

C. Risk Transference

D. Risk Mitigation

48. A software company purchases an insurance policy acting as a performance bond in case a subcontractor fails to deliver on time. Which risk strategy is being employed?

A. Accepting risk

B. Mitigating risk

C. Transferring risk

D. Avoiding risk

49. A contractor identifies a risk that a visitor to a model home open house could slip and fall down stairs. What can the contractor do to mitigate this risk?

A. Require guests to sign a non-liability form

B. Replace the stairs with an elevator

C. Purchase an insurance policy that covers any injuries to a guest

D. Install lighting, signs and handrails to decrease the probability of a fall

50. What formula is used to calculate risk scores in the risk register?

A. Probability ÷ Severity

B. Probability + Severity

C. Probability − Severity

D. Probability × Severity

51. For a given work package, the PM identifies necessary activities and estimates their costs. What is this component of the budget called?

A. Management reserves

B. Contingency reserves

C. Activity cost estimates

D. Padding the budget

52. Task A: 1 month, $10,000; Task B: 1 month, $20,000; Task C: 1 month, $30,000, executed sequentially, starting in January. What will the budget be for February?

A. $30,000

B. $10,000

C. $20,000

D. $60,000

53. A project moves from initiation to planning phase; management has given a set budget for the whole project. Which estimation technique is used at this point?

A. Bottom-up estimate

B. Three-point estimate

C. Ratio method

D. Apportion method

54. A project manager uses the best, worst, and average expected duration to calculate expected duration. What duration estimate technique is being used?

A. Analogous estimation

B. Three-point estimation

C. Parametric estimation

D. Expert judgment

55. A team member new to tech projects reviews three similar prior projects before sharing firewall security estimates. What estimating technique will be used?

A. Bottom-up

B. One-point

C. Parametric

D. Three-point

56. Which technique should be used when there is uncertainty in estimating activity durations?

A. The deterministic estimation technique

B. The one-point estimate technique

C. The activity duration technique

D. The probabilistic estimation technique

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