Fill in the blank with the appropriate term.
______is the measure of chance that, due to unfavorable events, the planned or budgeted cost of events can be exceeded
Show answer and explanation
Accepted answer: Answer: Cost risk
GCPM Online Exam
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Fill in the blank with the appropriate term.
______is the measure of chance that, due to unfavorable events, the planned or budgeted cost of events can be exceeded
Accepted answer: Answer: Cost risk
Fill in the blank with the appropriate term.
A _______ is a scale of values for the vendors where not all of the values are of the same weight
Accepted answer: Answer: weighting system
Fill in the blank with the appropriate term.
______is an estimating technique that uses parameters or project characteristics to forecast project costs.
Accepted answer: Answer: Parametric modeling
Fill in the blank with the appropriate term.
A ______ is performed to identify successes and failures that warrant recognition in the preparation or administration of other procurement contracts on the project, or on other projects within the performing organization.
Accepted answer: Answer: procurement auditing
Fill in the blank with the appropriate term.
______is the best method to achieve the final equitable settlement for all outstanding issues, claims, and disputes
Accepted answer: Answer: Direct negotiation
Fill in the blank with the appropriate term.
______describes the utilization of formal econometric techniques to evaluate the aggregate risk in a financial portfolio
Accepted answer: Answer: Risk modeling
Fill in the blank with the appropriate word.
A ______ should be specific, measurable, achievable, realistic, time bounded, ethical, and recorded.
Accepted answer: Answer: project
Fill in the blank with the appropriate word.
______refers to conveying a message from an individual person to another or to several people, whether verbally or non-verbally
Accepted answer: Answer: Communication
Fill in the blank with the appropriate term.
A______specifies the sequence and number of letters or numbers required for each level and the symbol separating the levels in a work breakdown structure (WBS) code or a custom outline code.
Accepted answer: Answer: code mask
Fill in the blank with the appropriate term.
______involves the implementation of strategies to reduce the negative aspects of conflict and to increase the positive aspects of conflict at a level equal to or higher than where the conflict is taking place.
Accepted answer: Answer: Conflict management