1) If the organization within which the project is being undertaken has a risk department or section, the project manager need not be concerned with risk in the project since this is the job of the risk department. Explain why this statement is true or false. Explain your reasoning.

2) In this course the instructor has emphasized that Time, Cost, Quality, and Scope comprise an inter-related, dependent system, resulting in a system with three (3) degrees of freedom (N-1). Explain this relationship and why the statement is or isn't true, and expound on the relationship of the four variables as they relate to project management.

3) A project manager's effectiveness is limited by the thoroughness, reliability, validity, and honesty of the performance measurement system employed and in the thoroughness, validity, and stability of the measurement baseline used. Is this the true statement? Why or why not? Justify your reasoning fully.

4) Project planning need only be a one-time exercise in order to get an idea of the project and its major ramifications. Since there are so many variables in a project, anything but cursory planning is a waste of effort. Address both the statements above. Address the veracity of the statements and thoroughly justify your reasoning.