Project management

QUIZ FIVE

1.    What do you think would happen if all project managers decided to withhold a management reserve? What criteria should be used for determining when a management

reserve is necessary?

2.    What is meant by a “tradeoff”? Who are the major players in performing tradeoffs?

3.    What are the two major components of risk, and why?

4.    A telecommunications fir believes that the majority of its income over the next ten years will come from organizations outside of the United States. More

specifically, this income will come from third world nations that my have very little understanding or experience in project management. List and discuss three causes

of risk in this situation, and how these risks might be mitigated.

5.    List four guidelines that can help a company prepare its proposals, contracts, and administering operations.

6.    Which of the following are typical actions a client would take if the client received nonconforming materials or products and the client did not have the

ability to bring the goods into conformance?

a. Reject the entire shipment but pay the full cost of the contract

b. Accept the entire shipment, no questions asked

c. Accept the shipment on condition that the nonconforming products will be brought into     conformance by the vendor, at the vendor’s expense

d. Accept the shipment and resell it to a competitor

7.    What is scope change, and why does it happen?

8.    What six factors should be considered for scope changes?

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