Project Planning: Putting It All Together Quiz Answers Week 4

 

Greetings!! Today, we'll publish the complete week's worth of quiz answers from Coursera's Project Planning: Putting It All Together course. This is the third of six courses that will provide you the knowledge and abilities you need to apply for entry-level project management positions. Project managers play a key role in planning, implementing, and leading critical projects to help their organizations succeed.

Project Management Scope   

Project management is a versatile field that encompasses a wide range of industries and job titles. Here are some of the most common positions related to project management and their probable earnings:

• Project Coordinator: A project coordinator is responsible for assisting the project manager in planning, organizing, and executing projects. The average salary for a project coordinator is around $55,000 to $65,000 per year.
• Project Manager: A project manager is responsible for leading and managing projects from start to finish. They oversee project timelines, budgets, resources, and team members. The average salary for a project manager is around $75,000 to $120,000 per year, depending on the industry, location, and level of experience.
• Program Manager: A program manager is responsible for overseeing multiple related projects and ensuring that they align with the organization's strategic objectives. The average salary for a program manager is around $110,000 to $150,000 per year.
• Portfolio Manager: A portfolio manager is responsible for managing a group of programs and projects and ensuring that they align with the organization's overall strategic goals. The average salary for a portfolio manager is around $130,000 to $170,000 per year.
• Director of Project Management: A director of project management is responsible for overseeing all aspects of the project management function within an organization, including project and program management, resource allocation, risk management, and stakeholder engagement. The average salary for a director of project management is around $150,000 to $200,000 per year.
• Chief Project Officer: A chief project officer is the highest-ranking project management executive within an organization and is responsible for developing and executing the organization's project management strategy. The average salary for a chief project officer is around $200,000 to $300,000 per year.

It's important to note that these salaries are estimates and can vary based on factors such as industry, company size, location, and level of experience.

About the Course:

This is the third course in the Google Project Management Certificate program. This course will explore how to map out a project in the second phase of the project life cycle that's the project planning phase. You will look at the essential elements of a project plan, as well as how to establish precise time estimates and define milestones. The preparation and management of a budget as well as the management of the procurement processes will be covered later. Then, you will learn how to utilise a risk management plan to communicate and address risks, as well as tools that will help you in identifying and managing various types of risk. Last but not least, you'll look at how to create and maintain a communication strategy, as well as how to arrange project documents. You will continue to get instruction and practical methods for doing these tasks from current Google project managers as they demonstrate the most effective project management tools and resources for the work at hand.

What will you learn:

• Define the phases of the project planning process and their components
• Determine the appropriate tools and procedures for creating a project plan and risk management strategy
• Describe the process of estimating, monitoring, and maintaining a budget
• Create a communication strategy and describe how to implement it

Project Planning: Putting It All Together Weekly Challenge 4

Question 1)

Fill in the blank: The process of identifying and evaluating potential risks and issues that could impact a project is known as _____.

• risk management
• risk identification
• risk mitigation
• risk analysis

  

Question 2)

When should project managers engage in risk management?

• Regularly throughout the project
• At the beginning of the project
• Towards the end of the project
• Shortly after the project begins

  

Question 3)

As a project manager you are practicing risk management. You have already defined potential risks, determined their likelihood, and prioritized them. Now, you’re making a plan to address and manage each risk. This represents which risk management step?

• Treat risks
• Analyze risks
• Identify risks
• Monitor and control risks

  

Question 4)

Which of the following are steps involved in creating a fishbone (or cause-and-effect) diagram? Select all that apply.

• Identify categories
• Define the problem
• Analyze the causes
• Mitigate causes

  

Question 5)

Which of the following is a tool used to assess and prioritize project risks?

• Probability and impact matrix
• Fishbone diagram
• Power grid
• Cause-and-effect diagram

  

Question 6)

Which of the following risk types most commonly impact projects? Select all that apply.

• Time risks
• Scope risks
• Budget risks
• Inherent risks

  

Question 7)

What does a risk management plan typically contain? Select all that apply.

• Probability estimates for each risk
• A mitigation plan for each risk
• An executive summary
• A competitor analysis for each risk

  

Question 8)

Why should project managers communicate risks clearly to key stakeholders? Select all that apply.

• To get them to provide additional teammates, if necessary
• To increase trust in the relationship
• To convince them to provide an increase in budget, if necessary
• To deflect blame on project issues, if necessary

  

Question 9)

As a project manager, you’re identifying task dependencies. Task B cannot start until Task A has started. Which type of dependency does this situation represent?

• Start to Start (SS)
• Finish to Start (FS)
• Finish to Finish (FF)
• Start to Finish (SF)

  

Question 10)

Which steps should be taken when updating a risk management plan? Select all that apply.

• Remove risks that are no longer relevant.
• Include any changes in the mitigation plans.
• Add newly-identified risks.
• Move the plan to a confidential folder.

 

  

Extra Questions

 

Question 11)

Failing to engage in risk management for your project can have which two of the following consequences?

• You will not be able to meet project timelines and goals
• You will not be able to make necessary adjustments to the project plan
• You will not be able to use the appropriate tools
• You will not be able to establish necessary vendor relationships

 

 

Question 12)

When working through the risk management life cycle, what’s the main goal when evaluating a risk?

• Prioritizing risks
• Controlling risks
• Treating risks
• Identifying risks

  

Question 13)

Which of the following tools can project managers use to brainstorm the potential causes of risks?

• Fishbone diagram
• Risk register
• Project charter
• Stakeholder map

 

Question 14)

Fill in the blank: Once an organization has explored the inherent risks of a project, its willingness to accept the possible outcomes of those risks is known as _____.

• risk appetite
• risk assumption
• risk register
• risk analysis

  

Question 15)

Imagine that your company is considering using a vendor. The vendor makes quality products, but you have learned they have a reputation for shipping delays. Ultimately, you decide to use a different vendor. Which risk mitigation strategy did you use?

• Avoid the risk
• Control the risk
• Reduce the risk
• Accept the risk

  

Question 16)

Which of the following is the best way to communicate a high-level risk to stakeholders?

• Meet with stakeholders in person to present serious risks and your plans to mitigate them.
• Plan to present the risks and your mitigation plans at the next monthly meeting.
• Describe the risks in a weekly planning email and briefly explain your plan to mitigate them.
• Describe the risks and your mitigation plan to stakeholders the next time you see them in person.

  

Question 17)

As a project manager, you’re identifying task dependencies. Task B cannot start until Task A is complete. Which type of dependency does this situation represent?

• Finish to Start (FS)
• Finish to Finish (FF)
• Start to Finish (SF)
• Start to Start (SS)

  

Question 18)

Which of the following best describes the executive summary in the risk management plan?

• Introduction to the conditions of the project and an outline of the potential risks
• Description of each risk, its risk rating, and a mitigation plan
• Information such as the plan’s status, creation date, and uploaded date
• Charts such as the impact chart, probability chart, and the probability and impact matrix

  

Question 19)

Fill in the blank: A(n) _____ is a known and real problem that can affect a team’s ability to complete a task.

• risk
• issue
• drawback
• threat

  

Question 20)

Choose the best definition for inherent risk as it relates to project management.

• The measure of a risk, calculated by its probability and impact
• The measure of a risk, calculated by its difficulty and frequency
• The measure of a risk, calculated by its causes and circumstances
• The measure of a risk, calculated by its timing and dependencies

  

Question 21)

What are the most common types of risk that can impact projects?

• Time risks, budget risks, and scope risks
• Budget risks, scope risks, and internal risks
• Budget risks, internal risks, and external risks
• Time risks, budget risks, and external risks

  

Question 22)

Fill in the blank: The four common ways to mitigate risk include _____.

• avoid it, accept it, reduce or control it, and transfer it
• avoid it, accept it, disregard it, and transfer it
• accept it, ignore it, reduce or control it, and transfer it
• accept it, disregard it, reduce or control it, and transfer it

  

Question 23)

Which of the following is a recommended method to communicate a medium-level risk to stakeholders?

• Send stakeholders a direct email that outlines the risk and includes a detailed explanation of your mitigation plan.
• Present the risk and your mitigation plan during the team meeting next month.
• In the weekly planning email, briefly describe the risk and your plan to mitigate it.
• Call an urgent in-person meeting with stakeholders to present the risk and your plan to mitigate it.

  

Question 24)

Fill in the blank: A potential event that can impact your project if it occurs is called a(n) _____.

• risk
• problem
• issue
• delay

  

Question 25)

Which of the following are examples of external risk? Select all that apply.

• A change in regulatory requirements
• A project vendor goes out of business
• A breakdown in communication among team members
• A deliverable takes longer than anticipated to complete

  

Question 26)

Identify the steps involved in creating and utilizing a fishbone (or cause-and-effect) diagram.

• Define the problem, identify categories, brainstorm causes, and analyze the causes
• Define the problem, identify risks, mitigate causes, and analyze the causes
• Define the problem, identify risks, brainstorm causes, and monitor feedback
• Define the problem, identify categories, mitigate causes, and monitor feedback

  

Question 27)

The risk management process can provide project managers a better understanding of what information? Select all that apply.

• How could the project manager mitigate the potential risk
• Who the project manager needs to consult about a risk
• What could go wrong with the project
• When exactly the risk will occur

  

Question 28)

Which of the following best describes the risk register in the risk management plan?

• A risk assessment technique such as the probability and impact matrix
• An introduction to the conditions of the project and an outline of the potential risks
• A description of each risk, its risk rating, and a mitigation plan 
• A list of general information such as the plan’s status, creation date, and uploaded date

 

Question 29)

As a project manager, you’re identifying task dependencies. Task B cannot finish until Task A is complete—the tasks operate at the same time. Which type of dependency does this situation represent?

• Start to Start (SS)
• Start to Finish (SF)
• Finish to Start (FS)
• Finish to Finish (FF)

 

Conclusion

 

With any luck, this post will help you quickly and easily uncover Week 4 assessment answers for Coursera's Project Planning: Putting It All Together Quiz. If this article has been helpful to you in any way, please let your friends and family know on social media about this wonderful training. Be patient with us as we release a tonne more free courses along with the exam/quiz solutions, and keep checking our QueHelp Blog for updates.