Reference no: EM132074707

Exam PME

There are 11 essay questions on the exam. You will need a calculator during this exam. You may use your notes and textbook during the exam.

However, make sure you are answering the questions in your own words and citing properly as needed. Make sure you show all of your work as needed in order to get credit.

Question 1 : A project has been estimated to take six weeks and cost $115,000. Cost and percent complete data are provided below:

1) Fill in the Earned Value table above to show PV, EV, AC, the cost variance (CV) and Schedule variance (SV) at each week through and including week 5.

2) What is your interpretation of this cost data?

Question 2 : Explain what the advantages and disadvantages of outsourcing are. Then explain what are some of the best practices for outsourcing.

Question 3 : Identify the three major categories of project costs and give an example of each.

Question 4  : In your opinion what are some of the challenges to managing a virtual team.

Question 5  : Look back at a recently completed group project that you have been in. Explain what the project was and who the team members were.

Then analyze the development of the team. Next, analyze how effectively the group managed meetings. Finally, explain what you would do differently to improve the team and the project outcome.

Question 6 : The following data was collected for a project:

A) Calculate the scheduled completion time and identify the critical path.

B) What is the slack time for tasks B, C, and D?

Question 7 : The following data were obtained from a project to expand a warehouse:

The contractor has only one machine of each type available at the above costs, and operations cannot be split. Additional equipment can be rented at a 50% cost premium if needed.

a. Identify any resource conflicts in the above project. State  the activities involved, the time frame of the conflict(s), the resources in conflict and the quantity of resource involved.

b. What is the least cost method of resolving the conflict(s),  assuming the project duration must not be extended? What additional cost, if any, will be incurred? (Note that the job is operating a standard 5 day week).

Question 8 : What do we mean when we say that a project network is sensitive and why is that important to a project manager?

Question 9 : What is meant by a work breakdown structure and how does it help manage projects?

Question 10 : What is scope creep and why should a project manager be concerned about it?

Question 11 : Which of the eight traits/skills associated with being an effective project manageris the most important to you and why?What do you think is the least important and why?

Attachment:- PME Questions.rar