NEW HORIZONS ONLINE LIVE. Project Management Professional (PMP ) PMBOK Guide, 6th Edition DAY 5
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1 NEW HORIZONS ONLINE LIVE Project Management Professional (PMP ) PMBOK Guide, 6th Edition DAY 5
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16 Plan Risk Responses: Tools and Techniques Strategies for Negative Risks or Threats Avoid Transfer Mitigate Accept
17 Plan Risk Responses: Tools and Techniques Strategies for Positive Risks or Opportunities Exploit Enhance Share Accept
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25 Question Risk management should be done: a. Just before meeting with a client b. Consistently throughout the project life cycle c. As soon as time and cost estimates are ready d. Early in the execution phase 25
26 Answer Risk management should be done: a. Just before meeting with a client b. Consistently throughout the project life cycle c. As soon as time and cost estimates are ready d. Early in the execution phase 26
27 Question The risk management plan may include all of the following except: a. Methodology b. Definitions of risk probability and impact matrix c. Responses to individual risks d. Stakeholders tolerances 27
28 Question The risk management plan may include all of the following except: a. Methodology b. Definitions of risk probability and impact matrix c. Responses to individual risks d. Stakeholders tolerances 28
29 Question Risk transfer could involve all of the following except: a. Cost type of contracts b. Fixed price contract c. Eliminating risk through beta testing d. Performance bonds 29
30 Answer Risk transfer could involve all of the following except: a. Cost type of contracts b. Fixed price contract c. Eliminating risk through beta testing d. Performance bonds 30
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32 Contract Types Fixed-price contracts Firm Fixed Price Contracts (FFP) Fixed Price Incentive Fee Contracts (FPIF) Fixed Price with Economic Price Adjustment Contracts (FP-EPA).
33 Contract Types Fixed-price contracts Firm Fixed Price Contracts (FFP) Fixed Price Incentive Fee Contracts (FPIF) Fixed Price with Economic Price Adjustment Contracts (FP-EPA). Cost-reimbursable contracts Cost Plus Fixed Fee Contracts (CPFF) Cost Plus Incentive Fee Contracts (CPIF). Cost Plus Award Fee Contracts (CPAF)
34 Contract Types Fixed-price contracts Firm Fixed Price Contracts (FFP) Fixed Price Incentive Fee Contracts (FPIF) Fixed Price with Economic Price Adjustment Contracts (FP-EPA). Cost-reimbursable contracts Cost Plus Fixed Fee Contracts (CPFF) Cost Plus Incentive Fee Contracts (CPIF). Cost Plus Award Fee Contracts (CPAF) Time and Material Contracts (T&M)
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42 Question The fixed price contract is advantageous to the buyer because it: A. requires extremely well defined specifications B. requires formal procedures for scope changes C. seller assumes financial and technical risk D. a known cost 42
43 Answer The fixed price contract is advantageous to the buyer because it: A. requires extremely well defined specifications B. requires formal procedures for scope changes C. seller assumes financial and technical risk D. a known cost 43
44 Question Procurement documents should have all of the following attributes except: a. Flexible enough to allow consideration of seller suggestion b. Contract statement of Work c. Describing the desired form of response d. Including the qualified sellers list 44
45 Answer Procurement documents should have all of the following attributes except: a. Flexible enough to allow consideration of seller suggestion b. Contract statement of Work c. Describing the desired form of response d. Including the qualified sellers list 45
46 Question Bidder's conferences used to: a. Plan contracting b. Perform contract administration c. Ensure that all prospective sellers have a clear, common understanding of the procurement d. Select sellers 46
47 Answer Bidder's conferences used to: a. Plan contracting b. Perform contract administration c. Ensure that all prospective sellers have a clear, common understanding of the procurement d. Select sellers 47
48 Question With which type of contract is seller MOST concerned about project scope of work a. Fixed price b. Cost reimbursable c. Time and Material d. Purchase Order 48
49 Answer With which type of contract is seller MOST concerned about project scope of work a. Fixed price b. Cost reimbursable c. Time and Material d. Purchase Order 49
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