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Question 1 1. People with a high need for _____ seek to excel and tend to avoid both low-risk and high-risk situations to improve their chances for achieving something worthwhile. Answer a. security b. affiliation c. power d. achievement 1 points Question 2 1. The project management plan and project funding requirements are inputs of the process of controlling costs. Answer True False 1 points Question 3 1. A cost estimation tool which is used to allocate money into an organization’s budget is known as a _____ estimate. Answer a. budgetary b. ballpark c. rough order of magnitude d. definitive 1 points Question 4 1. _____ involves changing the size of the opportunity by identifying and maximizing key drivers of the positive risk. Answer a. Risk enhancement b. Risk acceptance c. Risk exploitation d. Risk sharing 1 points Question 5 1. In project procurement management, the process of conducting procurements is part of the _____ process. Answer a. closing b. planning c. executing d. monitoring and controlling 1 points Question 6 1.
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Supporting details for an estimate include the ground rules and assumptions used in creating the estimate. Answer True False 1 points Question 7 1. With a(n) _____ contract, the buyer pays the supplier for allowable performance costs plus a fixed fee payment usually based on a percentage of estimated costs. Answer a. CPIF b. CPFF c. CPAF d. FPIF 1 points Question 8 1. Definitive estimates are made one year or less prior to project completion. Answer True False 1 points Question 9 1. The contractual relationship is a legal relationship, which means it is subject to state and federal contract laws. Answer True False 1 points Question 10 1. The main sections of an RFP can include the statement of work and schedule information. Answer True False 1 points Question 11 1. The term sigma means median. Answer True False 1 points Question 12 1. Contents of the procurement management plan vary with project needs. Answer True False 1 points Question 13 1. _____ is a technique for resolving resource conflicts by delaying tasks. Answer
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a. Resource allocation b. Resource leveling c. Resource loading d. Resource histogram 1 points Question 14 1. Outputs of the _____ process consist of selected sellers and resource calendars. Answer a. controlling procurements b. closing procurements c. conducting procurements d. planning procurement management 1 points Question 15 1. Only in-house auditors can perform quality audits. Answer True False 1 points Question 16 1. Cost variance is: Answer a. the planned value minus the rate of performance. b. the earned value minus the actual cost. c. the planned value plus actual costs. d. the rate of performance minus earned value.
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