Questions ????

Submitted by RaviDatt on Sat, 06/16/2012 - 20:48

Jackie is the project manager of large project. During the Determine Budget phase, she identifies that contingency reserves need to be made for unplanned but potentially required changes that could result from realized risks identified in the risk register. Which of the following is true about reserves?




  1. Add a note hereReserves are not a part of project cost baseline, but may be included in the total budget for the project



  2. Add a note hereReserves are not a part of project cost baseline, and will not be included in the total budget for the project



  3. Add a note hereReserves are a part of project cost baseline, but will not be included in the total budget for the project



  4. Add a note hereReserves are a part of project cost baseline, and will be included in the total budget for the project


 


 


A project manager manages a distributed team with team members located in five countries. Due to time- zone differences, he is unable to find a time that is acceptable to all team members. What strategy should he apply to resolve this matter?




  1. Add a note hereAuthority



  2. Add a note hereCo-location



  3. Add a note hereCoercion



  4. Add a note hereNegotiation

      What would be the answer here?

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diba_perfect

Sun, 06/17/2012 - 03:46

Question 1 - Choice "d" --> Contingency reserve is a part of the Cost Baseline and the latter is again a part of the Total Budget. So it's there in both.

 

Question 2 - Choice "b" --> "a" and "c" are anyway 'position power' based solutions so wouldn't be recommended first up. "d" i.e. Negotiation CAN solve it but Co-location is the best solution to the problem(and the question doesn't indicate anywhere that there are constraints towards adoption the Co-location strategy).

 

Plz let me know the correct answers.

ameenhaqqi

Sun, 06/17/2012 - 06:02

I think answer is "C" for the first question because the question is asking about contingency reserves and it's a part of cost baseline, however, contingency reserves will not be included in the total budget, we add management reserves to calculate the total cost budget for the project.


Answer "B" - Co-location seems correct to me in the above situation.

diba_perfect

Sun, 06/17/2012 - 06:18

 For Question # 1, the flow is ideally as follows:

Step 1: Project Estimates + Contingency Reserves(CR) = Cost Baseline

Step 2: Cost Baseline + Management Reserves(MR) = Cost Budget

So while preparing the Cost Budget, we don't 'take out' the CR and then add the MR. Both of them are supposed to be present in the Cost Budget.

 

Please refer Rita's book Page 397(6th Edition) / Page 395(7th Edition) for further clarity.

ameenhaqqi

Sun, 06/17/2012 - 06:33

thanks diba, you are really perfect :)

RaviDatt

Sun, 06/17/2012 - 10:58

Guys,


Thanks for the efforts.


Answer for 1st questions is A but I am not convinced  as Contigency Reserves are part of Baselines and management reserves are not. so question itself is not clear enough which reserves it is talking about.


Answer for 2nd is also A : Co-location is not a practical solution. PM would use his Authority to resolve timezone issue as , he was unable to find a time that is acceptable to all team members so now he has to use authority.