Budgeted contingencies can be detemined by:A past experienceB applying standard allowancesC detemining the sum total of the most probable variances of the various risk items properly identified.D All of the above.E None of the above.
Budgeted contingencies can be detemined by:
A past experience
B applying standard allowances
C detemining the sum total of the most probable variances of the various risk items properly identified.
D All of the above.
E None of the above.
相关考题：
A technique that can be used to measure the total income of a project compared to the total moneys expended at any period of time is:A . return on investment (ROI)B . net present value (NPV)C . discounted cash flow (DCF)D . B and CE . All of the above.
When a project manager is running over the budgeted costs, the project manager can typically _____ to attempt to get the project back on budget.A . Reduce features and/or functionalityB . Increase risk.C . Incur a schedule slippage (to obtain more favorable pricing due to lengthened delivery times)D . All of the above.E . A and B only
The planned cost for the total project at its inception is called the _____.A . Cost of goods sold.B . Depreciable value.C . Budgeted cost.D . All of the above.E . B and C only.
A plan has budgeted three weeks of effort for consultants, but the job was done in only two weeks. Calculate the variance:A . 1.50%B . 33.00%C . 75%D . 67%E . None of the above.
Non-conformance penalties are a form. of _____.A . quality incentiveB . risk sharingC . contract negotiationsD . quality assurance programsE . None of the above.
The Risk of NOT meeting project quality objectives:A . can be minimized through continuous monitoring.B . considered a long term risk.C . will be reflected in the "in-service" life of the product or service.D . B and CE . All of the above.
Project Risk Management is based on which of the following premises:A the future is unknown.B unknowns can result in risks or opportunities.C we cannot control risk events.D project risk impact can be measured and controlledE All of the above.
Risk mitigation is the process of _____ .A transferring risk to another party.B reducing uncertainty on the projectC identifying all possible risk eventsD monitoring status and making adjustmentsE All of the above.
Sensitivity analysis can be used in risk analysis to:A Substitute for uncertainty analysis in risk quantificationB estimate the level of risk aversion adopted by managementC estimate the effect of change of one project variable on the overall projectD A and BE All of the above.
Total Project Risk:A should not be calculated for small projectsB is the probability of each project risk event times the sum of the consequences of individual project risk events which could occur during the project.C Is the cumulative sum of the probability of each individual project risk event times the consequences of occurrence of that risk event.D A and BE A and C
By using Project Risk Management techniques, project managers can develop strategies that do all but which of the following:A Significantly reduce project risksB eliminate project risksC provide a rational basis for better decision makingD identify risks, their impact(s), and any appropriate responsesE None of the above.
Which of the following areas are addressed in risk identification:A environmentalB technicalC legalD All of the above.E A and B only
Total project risk can be defined as:A the sum of the probabilities of project risks events times the sum of consequences of those risksB the sum of the products of each project risk event times its consequencesC the sum of the consequences of all project risk eventsD the sum of the probabilities of all project risk eventsE 1 - the sum of the probabilities of all project risk events.
Which of the following is most closely associated with business risk:A profit and lossB personnel turnoverC workmen's compensationD liability insuranceE All of the above.
Since risk is associated with most projects, the best course of action is to:A cover all project risks by buying appropriate insuranceB ignore the risks, since nothing can be done about them and move forward with the project in an expeditious manner.C avoid projects with clear and present risksD eliminate all known risks prior to the execution phase of the projectE identify various risks and implement actions to mitigate their potential impact
Standard of purchased material:A Simplifies inventory controlB reduces the risk of obsolescenceC reduces cost of purchasing and storageD All of the above.E A and C only.
124 Which of the following is most closely associated with business risk:A. profit and lossB. personnel turnoverC. workmen's compensationD. liability insuranceE. All of the above.
15 Total project risk can be defined as:A. the sum of the probabilities of project risks events times the sum of consequences of those risksB. the sum of the products of each project risk event times its consequencesC. the sum of the consequences of all project risk eventsD. the sum of the probabilities of all project risk eventsE. 1 - the sum of the probabilities of all project risk events
187 Budgeted contingencies can be detemined by:A. past experienceB. applying standard allowancesC. detemining the sum total of the most probable variances of the various risk items properly identified. D. All of the above.E. None of the above
173 The Risk of NOT meeting project quality objectives:A. can be minimized through continuous monitoring.B. considered a long term risk.C. will be reflected in the "in-service" life of the product or service.D. B and CE. All of the above.
26 Risk mitigation is the process of _____ .A. transferring risk to another party.B. reducing uncertainty on the projectC. identifying all possible risk eventsD. monitoring status and making adjustmentsE. All of the above.
67 Life Cycle Costing:A. is the concept of including all costs within the total life of a project.B. is an activity devoted to optimizing cost/performanceC. is an activity of appraising the cost and technical performance of a completed project.D. is a process of predicting the life of a project.E. None of the above.
● Configuration (baseline) control monitors performance against theA scope baselineB original scheduleC original budgetD All of the above.E None of the above.
On the balance sheet, the amount shown for the Allowance for Doubtful Accounts is equal to the ( )A. Uncollectible accounts expense for the yearB. total of the accounts receivables written-off during the yearC. total estimated uncollectible accounts as of the end of the yearD. sum of all accounts that are past due.
Since risk is associated with most projects,the best course of action is to (71)A.cover all project risks by buying appropriate insuranceB.ignore the risks,since nothing can be done about them and move forward with the project in an expeditious mannerC.avoid project with clear and present riskD.identify various risks and implement actions to mitigate their potential impact
Glove Co makes high quality, hand-made gloves which it sells for an average of $180 per pair. The standard cost of labour for each pair is $42 and the standard labour time for each pair is three hours. In the last quarter, Glove Co had budgeted production of 12,000 pairs, although actual production was 12,600 pairs in order to meet demand.37,000 hours were used to complete the work and there was no idle time. The total labour cost for the quarter was $531,930.At the beginning of the last quarter, the design of the gloves was changed slightly. The new design required workers to sew the company’s logo on to the back of every glove made and the estimated time to do this was 15 minutes for each pair. However, no-one told the accountant responsible for updating standard costs that the standard time per pair of gloves needed to be changed. Similarly, although all workers were given a 2% pay rise at the beginning of the last quarter, the accountant was not told about this either. Consequently, the standard was not updated to reflect these changes.When overtime is required, workers are paid 25% more than their usual hourly rate.Required:(a) Calculate the total labour rate and total labour efficiency variances for the last quarter. (2 marks)(b) Analyse the above total variances into component parts for planning and operational variances in as much detail as the information allows. (6 marks)(c) Assess the performance of the production manager for the last quarter. (7 marks)
Since risk is associated with most projects,the best course of action is to ( )A.cover all project risks by buying appropriate insuranceB.ignore the risks,since nothing can be done about them and move forward with the project in an expeditious mannerC.avoid project with clear and present riskD.identify various risks and implement actions to mitigate their potential impact