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NEW QUESTION # 57
Skipped
Bruce is an entrepreneur who runs a small candle-making business that employs 10 people. He has recently completed a project outlining how he wishes to expand the business into making soaps. The project was a success, and Bruce is now feeding back to his team on what went well and what didn't go well with the project. What type of knowledge is Bruce sharing?
Answer: B
Explanation:
Tacit knowledge is the correct answer. Of the options listed, only explicit and tacit are types of knowledge, so you can discount options C and D. The study guide states on p. 147: "Many of the lessons learned by project managers fall under the category of tacit knowledge." Domain: 2.4
NEW QUESTION # 58
Giant Construction Company is working on five large-scale projects. Each project has a specific contract type and pricing mechanism.
Your task is to match the correct contract type and pricing mechanism to each project.
Project Descriptions
Project 1
Description: Giant is collaborating closely with the client to construct a hospital. The client has provided a cost estimate, and any savings will be shared between the parties. This contract is popular in the public sector due to its flexibility.
Project 2
Description: This suite of contracts is known as the "rainbow suite". It is rigid, meaning no changes can be made after signing. The price was fixed at the date of signing.
Project 3
Description: This international project involves the construction of wind turbines. The pricing mechanism calculates costs for each individual turbine.
Project 4
Description: The most popular form of contract in construction, utilizing a Contract Administrator to ensure timely information flow. Since the scope was not clearly defined, Giant is working with the client on a cost-sharing basis plus a small profit margin.
Project 5
Description: The project involves ICT services and software provision. Payments are linked to milestone completion during the project implementation phase.
Answer:
Explanation:
NEW QUESTION # 59
When is a cost-plus pricing arrangement most likely to be used?
Answer Options:
Answer: A
Explanation:
Cost-plus pricing is best suited for high-risk environments (p.93), such as fluctuating commodity markets. It reduces risk for suppliers by allowing cost adjustments based on actual expenses plus a margin. Option A is incorrect because low-risk projects favor fixed pricing. [P.93]
NEW QUESTION # 60
Which of the following processes for managing change is the most passive?
Answer: D
Explanation:
Education is considered passive as it involves simply providing information rather than enforcing change.
NEW QUESTION # 61
Scenario (same as Question 16):
In terms of the Cultural Web, which of the following impacts on staff behaviour?
Answer: D
Explanation:
Stories (in the form of rumours) about the CEO affect how staff behave.
NEW QUESTION # 62
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