Question 1

Two early warning signs of project failure are ________ and ________.

Accepted Answer

The answer of Two early warning signs of project failure...

Question 2

Closeout activities are typically among the highest priority activities in a project.

Accepted Answer

A) True 
 B)False

Question 3

Arbitration refers to the formalized system for dealing with grievances and administering corrective justice to parties in a bargaining situation.

Accepted Answer

A) True 
 B)False

Question 4

Termination by addition and termination by integration both represent successful project completion.

Accepted Answer

A) True 
 B)False

Question 5

A research study on the critical success factors for projects found that an important determination of whether the project is successful is the element of:

Accepted Answer

A) putting it all to bed. 
B) reviewing how it all went. 
C) disbanding the team. 
D) gaining acceptance for the product.

Question 6

When contractual claims are defaulted due to the failure of a project to be completed and delivered:

Accepted Answer

A) the client firm should file an ex-gratia claim. 
B) the client firm may have some legal claim to punitive damages. 
C) the project firm should file an ex-gratia claim. 
D) the project firm may have some legal claim to recovery.

Question 7

A static factor that may lead to early termination for a project is:

Accepted Answer

A) less capital availability. 
B) high sunk costs. 
C) intermittent rewards. 
D) loss of the project champion.

Question 8

Putting it all to bed during project closeout includes:

Accepted Answer

A) developing a meaningful measurement system. 
B) closing all accounting records. 
C) describing as objectively as possible what occurred. 
D) completing the punch list.

Question 9

A project that is terminated by extinction is not completed successfully.

Accepted Answer

A) True 
 B)False

Question 10

A lessons-learned analysis falls under the project closeout management element of:

Accepted Answer

A) reviewing how it all went. 
B) handing over the product. 
C) finishing the work. 
D) putting it all to bed.

Question 11

What is the key to begin harvesting the benefits of a project? What are the major components of a meaningful project assessment system and how does an assessment system help the project organization?

Accepted Answer

The answer of What is the key to begin harvesting...

Question 12

The goal in requiring a final project report is to lay the groundwork for successful future projects.

Accepted Answer

A) True 
 B)False

Question 13

Which of these factors weighs heavily in the decision to terminate a project?

Accepted Answer

A) inability to protect results 
B) increased market receptiveness 
C) meeting project cost milestones 
D) low probability of return on investment

Question 14

Many times,clients will shift new people into the project who have no experience with it as they move their key people to new challenges.This issue is:

Accepted Answer

A) an emotional one for the project team. 
B) an emotional one for the clients. 
C) one that is internal and intellectual. 
D) one that is external and intellectual.

Question 15

The disadvantage of a BOOT contract to the project organization is that they must take on:

Accepted Answer

A) higher safety risks. 
B) higher failure risks. 
C) higher financial risks. 
D) higher competitive risks.

Question 16

The development of a quartz watch that was more accurate than a multi-jewel movement watch at a fraction of the cost resulted in a(n)________ of the 40-jewel movement project that Swiss watchmaker Yodelhaus was currently managing.

Accepted Answer

The answer of The development of a quartz watch that...

Question 17

Which two types of project termination are reserved for successful projects?

Accepted Answer

A) addition and integration 
B) integration and starvation 
C) starvation and extinction 
D) extinction and addition

Question 18

Binding arbitration:

Accepted Answer

A) requires that a terminated project be completed before damages are awarded. 
B) requires empanelment of equal numbers from both the client and project organizations to reach a verdict. 
C) should be used to settle disputes only if the principle of caveat emptor does not apply. 
D) can settle outstanding claims or disputes provided that all parties agree to its use.

Question 19

Which of these concerns does NOT belong in the assessment of team performance in a project final report?

Accepted Answer

A) Were the stakeholder's concerns addressed? 
B) Were the best people in the organization selected to work on this project? 
C) How were our project team members trained for their duties? 
D) Does the project manager have the ability to evaluate worker performance?

Question 20

All projects are unique:

Accepted Answer

A) therefore all project management circumstances are equally unique. 
B) so knowledge cannot be transferred. 
C) but they may have several common points. 
D) so knowledge should not be transferred to avoid bias in future projects.

Exam 14: Project Closeout and Termination

Two early warning signs of project failure are and .

Closeout activities are typically among the highest priority activities in a project.

Arbitration refers to the formalized system for dealing with grievances and administering corrective justice to parties in a bargaining situation.

Termination by addition and termination by integration both represent successful project completion.

A research study on the critical success factors for projects found that an important determination of whether the project is successful is the element of:

When contractual claims are defaulted due to the failure of a project to be completed and delivered:

A static factor that may lead to early termination for a project is:

Putting it all to bed during project closeout includes:

A project that is terminated by extinction is not completed successfully.

A lessons-learned analysis falls under the project closeout management element of:

What is the key to begin harvesting the benefits of a project? What are the major components of a meaningful project assessment system and how does an assessment system help the project organization?

The goal in requiring a final project report is to lay the groundwork for successful future projects.

Which of these factors weighs heavily in the decision to terminate a project?

Many times,clients will shift new people into the project who have no experience with it as they move their key people to new challenges.This issue is:

The disadvantage of a BOOT contract to the project organization is that they must take on:

The development of a quartz watch that was more accurate than a multi-jewel movement watch at a fraction of the cost resulted in a(n)________ of the 40-jewel movement project that Swiss watchmaker Yodelhaus was currently managing.

Which two types of project termination are reserved for successful projects?

Binding arbitration:

Which of these concerns does NOT belong in the assessment of team performance in a project final report?

All projects are unique: