Free CIMA E2 Practice Exam with Questions & Answers | Set: 3

The Project Manager can make decisions independently without the approval of the board

The Project Manager must follow a restricted step by step procedure

All six processes and the many sub processes must be followed

Project staff must operate under a strictly managed and controlled regime

All actions must be within the bounds of agreed project objectives and scope

Valuable

Imperfectly Imitable

Perfectly Imitable

Costly to obtain

The project team is required to break and regroup ready for the next package of work.

The project board can make a decision as to whether the project business case is still viable.

The progress of the project can be reviewed to ensure this justifies the continuation of the project.

Risks to the project can be reassessed before further commitments of money or resources. 

Coercion

Education and communication

Facilitation and support

Participation

All of the above

(i), (iii), (iv) and (v)

(i), (ii), (iii) and (iv)

(ii), (iii), (iv) and (v)

Competing: both parties seek to maximise their own interests and goals thus creating winners and losers. 

Conflict reduction: involves building on areas of agreement and changing attitudes and perceptions by use of compromises and concessions.

Collaborating: involves a 'win-win' strategy which is achieved through joint confrontation of the problem.

Conflict suppression: involves threatened authority or force or smoothing over the conflict by de-emphasing the seriousness of the situation.

Accommodation: involves a strategy in which one party puts the other party's interest first even when it is to its own disadvantage.

There are always at least two parties present in any negotiation process.

Negotiation occurs when parties prefer to search for an agreement rather than openly fight.

Negotiation takes place when there are no established set rules for resolving the conflict, or the parties prefer to work outside of an established set of rules to reach a solution.

The negotiation process isn't always voluntary and a contract of agreement should be signed.

The bargaining phase is the last stage of the negotiation process.

The preparation phase is the first stage of the negotiation process.

Competitors which compete for the same income as the company.

Competitors which compete with products which, although technically quite different, satisfy the same needs.

Competitors which have similar goods but not necessarily the same size or structure organisation.

Competitors which have similar size and structure and offer similar products to the same customers. 

It allows the accountant to provide information specific to a particular business unit with greater efficiency.

It prevents duplication of effort across the organisation.

It enables strong relationships to be developed between the accountant and the rest of the management team within a particular business unit.

It means that the accountant is able to develop best practice that can be of benefit to the whole company.

It allows the accountant to build up detailed local knowledge and understanding of the business unit.

The planned duration of the project is 80 days.

The critical path runs through five activities.

Data Conversion is non-critical and has float of 25 days.

There are four non-critical activities.