These questions taken from Scordo.
Question 1: Many organizations favor fixed-price contracts because the performance of the project is the responsibility of the seller. Which of the following is the characteristic of a firm fixed price contract?
The buyer must precisely specify the number of resources to be used for procurement
The buyer must precisely specify the service or product to be procured
The buyer must precisely specify the time for completing the contract
The buyer must precisely specify the price of the contract
Question 2 : Which of the following activities fall under the planning process group but not under the project time management?
Estimating the type of materials and equipment needed to perform project activities
Formalizing the acceptance of completed deliverables
Identification of various activities to produce the project deliverables
Developing a detailed description of the project and product being developed
Question 3 : Chris works as a project manager for UNISTEEL, a steel melting shop. He was assigned by his Executive Project Manager to study and prepare a report on the defects that eroded the blast furnace lining which has caused a drastic decline in production. Since this report will be used by the management to control the process and material quality, Chris performed a careful study and uncovered two factors related to refractories that caused majority of the lining problems. Which of the following statements BEST illustrate the technique Chris must have used in this scenario?
A Pareto chart indicates that 80 percent of the problems are due to 20 percent of the causes
A cause and effect diagram indicates how various causes show the history and variation of defects
A Pareto chart identifies the possible relationship between changes observed in two independent variables
A cause and effect diagram indicates how various factors or causes can be linked to potential problems