Week 3 – Managing Budgeting And Procurement – Shuffle Q/A 2

25. Which activity ensures ethical procurement in the initiating phase of a project?

  • Execute quality control
  • Audit each task and cost
  • Review government regulations and policies
  • Focus on the day-to-day relationships with vendors

26. To create a well-organized budget, a project manager includes different types of expenses. Which type of budget expense includes costs for day-to-day tasks within a company?

  • Operating expenses (OPEX)
  • Capital expenses (CAPEX)
  • Reserve expenses
  • Fixed expenses

27. At what phase in the procurement process would a project manager determine the success of the procurement process?

  • Controlling
  • Finishing
  • Completing
  • Determination

28. As a project manager creating a budget, you’re thinking about all the parts of a project from beginning to end—making a list of every material, resource, and contract worker. What do you call this type of budgeting?

  • Contingency
  • Bottom-up approach
  • Buffers and reserves
  • Top-down approach

29. A document that keeps confidential information within the organization is known as what?

  • Statement of work (SoW)
  • Non-disclosure agreement (NDA)
  • Scope of work (SoW)
  • Request for proposal (RFP)

30. “Honesty, responsibility, respect, and fairness are the values…” begins what type of saying of the Project Management Institute that serves as a guide to how they do procurement and other business?

  • Requirements
  • Slogan
  • Code of ethics
  • Motto

31. At what phase in the procurement process would a project manager make payments, set up logistics, and ensure service agreements are being met?

  • Selecting
  • Initiating
  • Controlling
  • Completing


32. Time and materials contracts are usually paid monthly, based on hours worked. What is a fixed contract?

  • A contract paid when certain milestones are reached
  • A contract paid to a specific vendor
  • A contract paid for a certain amount of time
  • A contract paid internally to team members

33. Which of the following statements is typically true regarding budgeting?

  • It’s important to not go over or under budget.
  • It’s recommended to go either over or under budget.
  • It’s important to not go over budget, but it’s recommended to go under budget.
  • It’s important to not go under budget, but it’s recommended to go over budget.

34. A project manager creates a budget. They determine the amount of buffer funds the project likely needs for completion. What is this budget component?

  • Expected estimation
  • Reserve analysis
  • Risk funding
  • Surprise expense

Shuffle Q/A 3

35. Imagine you are working on a project. It progresses as expected, but you would like to assess the budget to identify whether any budget items need to be revisited. When should you take this budgeting action?

  • Project completion
  • Project flow meeting
  • Any project pause
  • A project milestone

36. As a project manager, you’re seeking a procurement approach that outlines clear workstreams, hard deadlines, and financially protects your project against unforeseen circumstances. Which procurement approach should you choose?

  • Traditional
  • Protectionist
  • Agile
  • Robust

Devendra Kumar

Project Management Apprentice at Google

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