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Question
List and briefly describe the four project cost management processes.Answer
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Related questions
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A(n) _____ is a tool that helps clarify expectations and lists project measures of success as well as priorities, expectations, and guidelines related to each measure.
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A(n) _____ stakeholder is one who is aware of the project and is neither supportive nor resistant.
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The project sponsor, project team and the support staff would be the _____ project stakeholders.
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_____ can be classified as internal to the organization or external.
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Doctors who have been co-opted to actively participate in a project related to using information technology for chronic health problems would be examples of _____ stakeholders.a. supportive b. leadingc. resistant d. neutral
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One of the main outputs of the _____ process are the issue logs.a. Planning stakeholder management b. Identifying stakeholdersc. Managing stakeholder engagement d. Controlling stakeholder engagement
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Issue logs can be used to address issues related to other knowledge areas like project scope management or project quality management.
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Sensitive information can be included in the stakeholder register as very few people in the organization have access to it.
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Groups representing consumer, environmental, or other interests can be identified as project stakeholders.
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The main output of the identifying stakeholders process is the project charter.
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The cost at which the contractor assumes total responsibility for each additional dollar of contract cost is known as a(n) _____.
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A(n) _____ decision is one in which an organization decides if it is in its best interests to make certain products or perform certain services inside the organization, or if it is better to buy them from an outside organization.
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A(n) _____ is a mutually binding agreement that obligates the seller to provide the specified products or services and obligates the buyer to pay for them.
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Indirect costs are those costs can be traced back to a project in a cost-effective way.
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What are some of the advantages that outsourcing offers which is encouraging many companies to adopt it?
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A(n) _____ type of e-procurement that sends requests for information and prices to suppliers and receives the response of suppliers using Internet technology.
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The process of source selection involves evaluating proposals from sellers, choosing the best one, negotiating, and awarding the _____.
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Explain the basic steps involved in performing a Monte Carlo analysis.
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A(n) _____ is a list of risks that are low priority, but are still identified as potential risks.
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The term _____ is used to describe risks that the project team has identified and analyzed.
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_____ is the amount of satisfaction or pleasure received from a potential payoff.
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A project _____ is an uncertainty that can have a negative or positive effect on meeting project objectives.
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_____ are unplanned responses to risk events used when project teams do not have contingency plans in place.a. Workarounds b. Fallback plansc. Contingency plans d. Triggers
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_____ applies to positive risks when the project team cannot or chooses not to take any actions toward a risk.a. Risk enhancement b. Risk acceptancec. Risk sharing d. Risk exploitation
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_____ involves allocating ownership of the risk to another party.a. Risk exploitation b. Risk sharingc. Risk enhancement d. Risk acceptance
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_____ involves shifting the consequence of a risk and responsibility for its management to a third party.a. Risk avoidance b. Risk acceptancec. Risk transference d. Risk mitigation
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_____ involves doing whatever you can to make sure the positive risk happens.a. Risk exploitation b. Risk sharingc. Risk enhancement d. Risk acceptance
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_____ involves reducing the impact of a risk event by reducing the probability of its occurrence.a. Risk avoidance b. Risk acceptancec. Risk transference d. Risk mitigation
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Performing qualitative and quantitative risk analyses are subprocesses of the _____ process of project risk management.a. planning b. executingc. monitoring and controlling d. closing
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Identifying risks is a subprocess of the _____ process of project risk management.a. planning b. executingc. monitoring and controlling d. closing