QUESTION: 93

Which of the following would be the MOST appropriate thing to do during the monitoring and controlling process group?

Implement recognition and reward systems.
Obtain sign-off of the product of the project.
Issue performance reports.
Keep everyone focused on completing the project to the charter.

Answer(s): C

The widget production project is well underway. The requirements are clear that each widget must weigh between 0.320 and 0.325 ounces. The first day of test production resulted in 1247 widgets. Of the widgets inspected, 47 percent fell within the acceptable weight range. This is an example of:

Control limits.
Quality assurance.
Control charting.
Corrective action.

Answer(s): A

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QUESTION: 95

In which of the following contract types does the buyer have the most cost risk?

Cost plus percentage of costs (CPPC)
Cost plus fixed fee (CPFF)
Cost plus award fee (CPAF)
Cost plus incentive fee (CPIF)

Answer(s): A

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QUESTION: 96

What is the difference between expected monetary value and net present value?

Expected value is the estimated value of the work actually accomplished and net present value is the value of the work to be done.
Expected value is the value it takes to recover your investment and net present value is the value of money.
Expected value is the probability times impact of an opportunity and net present value is the benefits less costs over many time periods.
Expected value is the estimated value of risk response plans and net present value helps determine the value of investments.

Answer(s): C

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QUESTION: 96