You are the Project Manager for a large construction project. While reviewing the expenditures, you realize that you are 20% over budget. What process group are you working in?
Closure
Execution
Planning
Monitor & Control
What is the main benefit of a balanced matrix organization over a projectized organizational structure?
As a Project Manager, you have a great deal of authority
More efficient use of resources
Reporting to a functional manager
Reporting to 2 Managers
As the Sponsor on a large, multi-national hydroelectric power project, during the execution phase, your primary responsibilities are to:
Provide the financial resources and champion the project
Manage a group of interrelated projects
Manage the Project Team
Provide status updates to the customer
Name the 5 project management process groups.
Initiating, Planning, Executing, Monitoring & Control, Closing
Planning, Executing, Monitoring, Integrated Change, Closing
Business Case, Planning, Executing, Monitoring & Control, Closing
You are hired to manage an exciting new project for a software development company making CRM tools. You are unfamiliar with the project management resources available in the company. Who should you go to for help identifying the resources and best practices?
Project Sponsor
Operations Manager
Other Project Managers
Project Management Office
As you progress through the project life cycle:
Risk increases and cost of changes increases
Cost of changes decreases and risk increases
Risk decreases and cost of changes increases
Cost of changes decreases and risk decreases
The purpose of the Closer Process Group is:
Complete the work as quickly as possible
Analyze the project risks at the end of the project
Inspect the outputs to ensure the quality is as planned
Formally complete the project
In the Statement Of Work, you provide:
Project charter
Market demand analysis
Change control tools you will use
Scope description
The output of the Develop Project Charter process is:
Project Management Plan
Work performance data
Business case
According to the PMBOK all the following are types of project constraints except:
Scope
Portfolio Alignment
Risks
Schedule
You are the Project Manager for a project that will design and build the iPhone X, the latest in mobile phone technology. The requirements call for a new production facility in Asia. Immediately after working with Senior Management to create a business case and statement of work for the new production facility, what document will you want to produce?
Project document updates
Lessons learned
Project plan
The ideal Project Team size is?
10-15
3-6, 6-9
Your project has been officially approved by your sponsor, what process group will you move from and which process group will you move to?
Planning to execution
Initiation to execution
Planning to initiation
Initiation to planning
All the following are examples of expert judgement except:
PMO
Tech manuals
PM information system
Professional associations
In Project Integration Management, as you develop the Project Management Plan, you will:
Direct and manage the planning of work defined in the Project Charter and implement to achieve the project’s objectives
Provide the project schedule which is derived from progress against the schedule baseline.
Validate plans and changes from Perform Integrated Change Control and ensure that the changes are appropriately executed
Define, prepare, and coordinate all subsidiary plans and integrate them into a comprehensive plan.
The process group where you will identify if any changes to the plan are needed and initiate those plans is:
Monitoring and control
Executing
Initiating
The organizational structure that gives project managers a very high degree of authority over their project is:
Functional
Projectized
Weak matrix
Strong matrix
The largest portion of the projects budget will be expended in what process group?
Closing
All of the following are examples of Enterprise Environmental Factors EXCEPT:
Established communication channels
Organizational culture
Project management information system
The leader of the project is working on completing a database upgrade but cannot get the additional resources she needs to be able to complete the project. The rest of the project team is working on daily operations work. The leader has not been given the authority to put additional resources on the project. What is the organizational structure this team is working in?
Project team
Portfolio management refers to:
Applying resource-leveling heuristics across all the organization's projects to achieve the organization's strategic objectives.
Managing the levels of functional authority to facilitate project decision making.
Managing various contents of the project file
The centralized management of one or more portfolios to achieve strategic objectives.
A project has all of the following characteristics except:
Short duration
Unique
Temporary endeavor
Specific end
A program is:
Project over 1$ mill
Group of related projects, subprograms & program activities managed in a coordinated way.
Sequence of steps constituting a project
Group of related tasks lasting one year or less
The project manager has the lowest level of authority in this type of organization:
Project Management Process Groups are:
Genearlly, discrete, one-time events
Overlapping activities that occur throughout the project
Overlapping activities that generally occur at the same level of intensity within each phase of the project.
Discrete, repetative events that occur generally at the same level of intensity throughout each phase of the project.
Decomposition is:
Creating subproject to ensure scope
Organizing and defining the complete scope
Subdividing project scope & deliverables into more manageable components
Documents planning assumptions
You are exactly half way through a construction project when the customer insists that you add a third entry way. What process will you need to follow to make the updates?
Validate scope
Brainstorming
Control scope
Collect requirements
What process group determines how the scope is defined?
Create WBS
Plan scope management
Define scope
Requirements must be:
A component of change control
A validated for conformity as part of the project scope statement
An out put of the Validate Scope process
Measureable
All of the following are tools for collecting requirements EXCEPT:
Focus groups
Observations
Interviews
Quality assurance
The process that documents stakeholder needs to meet the projects objectives are:
Decomposition
WBS
Acceptance Criteria is:
Part of the lessons learned
Unique & verifiable product, result or capability for a product
A set of conditions that is required to be met before deliverables are accepted.
Given by the PMO
The project scope statement is:
Determining, documenting, and managing stakeholder needs and requirements.
Set of conditions that is required to be met before deliverables are accepted.
The features and functions that characterize a project.
Description of the project, major deliverables, assumptions and constraints
The WBS is:
Project schedule components organized by work package
Work breakdown system
a hierarchical decomposition of the total scope of work to be carried out by the project team
The lowest level of WBS components are:
Quality requirements
Acceptance criteria
WBS dictionary
Work packages
The project scope statement includes all of the following except:
Scope baseline
Deliverable
One of the outputs for the validate scope process is:
Resources required
Description of work
Accepted deliverables
Which of the following provides more detailed information?
Scope statement
You are the leader of the Project Management Office for your company. One day, an experienced Project Manager asks why he should go to the trouble of creating a Work Breakdown Structure for his new project. The best answer would be:
It is optional
It is a legal requirement for external projects
It will help you organize project deliverables & work
It helps to verify project quality
What is the purpose of the validate scope process?
Collect requirements for the project
Make needed changes to the project charter
Acceptance of the project deliverables
Create WBS is in which process group?
Monitoring & control
Initiation
Gold plating is:
Decreasing risk by providing project safeguards
Changing requirements to improve the project
Giving a customer more than they want
Taking features away to keep costs down
Project scope is:
Making sure there is no gold plating in the project
The value created by completing a project under budget and on schedule
Determining, documenting & managing stakeholder needs and requirements
Work performed to deliver a product, service or results with specified features and functions
What is the WBS typically used for?
Defines the stakeholder list
Identifies the logical person to be the sponsor
Defines the level of reporting that the seller provides the buyer
Organizes & defines the work elements required to create the required deliverables
Which of the following processes is not an output of the control scope process?
Work performance information
Change requests
You are managing a global project that involves stakeholders and several international locations. You are likely to consult the WBS dictionary to find:
Strengths, weaknesses, opportunities, and threats of key stakeholders and their impact upon the WBS.
Detail deliverable, activity, and scheduling information about each component in the WBS.
High level task information for the schedule management plan
The following is an example of a constraint associated with the project scope that limits the team's options and scope definition:
Threat of a strike
Quality of analysis
Predefined budget or any imposed dates/schedule milestones that are issued by the customer or performing organization.
Existing relationships with sellers, suppliers, or others in the supply chain
An output of the define scope process is:
Scope & schedule delays control plan
Project scope statement
Resource breakdown structure
The difference between the Project Charter and the Project Scope Statement is:
The Project Scope Statement lists high level technical requirements and regulatory constraints.
The Project Scope Statement provides a high level description of scope elements.
The Project Charter provides a high level description of scope elements.
The Project Charter lists project deliverables in smaller, more manageable components.
Control scope:
Updates the WBS dictionary to ensure all tasks are accounted for
Ensures risks are mitigated
Plans how to determine scope
Manages changes to the scope baseline
Plan schedule management is:
Identifying and documenting logical relationships among project activities.
Analyzing activity sequences to create the project schedule baseline.
Monitoring the status of project activities to ensure they are performing to expected specifications in regards to project constraints.
Establishing the policies, procedures, and documentation for planning, developing, managing, executing, and controlling the project schedule.
The duration of a milestone is:
0 days
1 days
10 days
What is the best tool for determining the overall length of a project?
Precedence diagram
Expert judgement
Pie chart
The critical path is:
The shortest sequence duration
The sequence of activities that are determined to be key activities for successful project execution
The path with the highest number of activities
The shortest amount of time you can get the project done in
The maximum amount of slack in the critical path is:
+1
-1
0
The Critical Path has a duration of 10. There is an independent sequence, XYZ. Activity X has a duration of 2. Activity Y has a duration of 3. Activity Z has duration of 2. The EAC is 4000. The total float of XYZ is:
3
To complete your project on time, you ask for additional overtime for your project team. This is an example of:
Fast tracking
Crashing
Critical chain
Schedule network analysis
Lag is:
The time an activity will start sooner than its dependency
Determined by the critical chain
The time when an activity is dependent on another activity to start at the same time
The time an activity will start later than its dependency
You ask your construction manager how long it will take to complete the new server room. He gives you a likely estimate of 6 weeks, but says it may take as long as 10 weeks. He may be able to get it done in 4 weeks if everything goes well. Calculate your PERT estimate of how long it will take to complete the server room.
20 weeks
6.3 weeks
6 weeks
4.6 weeks
The method where buffers are added to each activity to account for resource availability is:
Critical path
Resource leveling
A benefit of bottom-up estimating is:
Determines resources need to schedule the project
Ability to automate your estimate
Allows for what-if analysis
A more accurate estimate
One of the outputs of the Develop Schedule process group that helps create the Project Management plan is:
Sequence activities
Work package acceptance criteria
Schedule baseline
The minimum project duration is 6 months. Another path, series ABCD, will take 4 months to complete. In addition, series EFG will take 2 months. How much float is in ABCD?
4 months
0 months
2 months
12 months
Which of the following allows you to accomplish tasks in parallel when they normally would be done in sequence?
Analogous estimating is a technique for estimating the duration or cost of an activity or project using historical data from a similar activity or project. What is the disadvantage of this technique?
More costly
Takes more time
Requires using PERT
Less accurate
Your project will run through the summer when your employees generally take vacation. To account for the risk of lower resource availability in your project plan, you could use:
You need Activity A in your project plan to start 3 days before Activity B. Activity B would be called:
Lag
Lead
You are creating the Schedule Baseline for a multi-national government pipeline project that will deliver oil faster and cheaper. You need to know how long it will take to build the new capacity. Who would you consult to determine the time required?
Government experts
Project sponsor
Scrum master
The people that will be doing the work
An example of a finish to finish relationship is:
Rocket fuel tanks that must be filled prior to launch
A dinner cruise that sells tickets up until departure
Dinner when all of the food is ready at the same time
Drag racing
Parametric estimating:
Accounts for risk
Is where an algorithm is used to calculate cost or duration based on historical data
Focuses on planning at a daily activity level
In rolling wave planning:
Focus is maintained on long-term objectives, allowing near-term objectives to be rolled out as part of the ongoing wave of activities.
The work to be accomplished in the near term is planned in detail, the work in the more distant future is planned at a higher level.
Analogous duration estimating is:
Frequently used to estimate project duration when there is a limited amount of detailed information about the project
A bottom up estimating technique
Based on multiple duration estimating
Generally more accurate than other duration estimating methods when expert judgement is used
To enter logical dependencies in MS project you enter the dependency in which column:
Predecessor
Resource
Linkages
Outputs from the Estimate Activity Resources process include:
Activity resource requirements
Salary schedules for various project human resources
Risk register
Activity list
An example of a mandatory dependency is:
A dependency established based on knowledge of best practices within a particular application area
A dependency established based on some unusual aspect of the project where a specific sequence is desired
On a construction project, to erect the superstructure only after the foundation has been built.
On a software development project, to start design only after completion and approval of all project requirements.
Earned Value is:
Actual cost of work scheduled
AC / % Complete
Measure of work expressed in terms of budget authorized for that work
A SPI is 1.4 - your project is?
Ahead of schedule
Over budget
Under budget
You are 1 month into your project. You need to determine how much your project will cost when it is done. What Earned Value metric will you use to determine the cost?
BAC
EAC
Project XYZ has a Schedule Variance of -500. That means that:
The SPI is 500
Your project is behind schedule
Your EAC is 4000. The PV is 1000. The AC is 400. What is the ETC?
-10
10
2600
3600
All of the following are processes included in Project Cost Management except:
Determine budget
Estimate activity resources
Estimate costs
Control costs
Planned value is:
Actual cost of work
Realized cost of work
Authorized budget assigned to the scheduled work
Difference btwn earned value and actual cost
If the earned value is 40,000, the planned value is 50,000, and the actual cost is 45,000, what is the cost performance index?
1.13
.88
1.27
In class, we discussed that in Initiation, a Rough Order of Magnitude estimate should be within what percent?
+ - 25%
+ - 3%
+ - 50%
Your project is behind schedule and over budget. When calculating the project’s CPI, you will get:
number greater than 1
number less than 1
What metric will show how efficiently the project team is using time?
PV
SPI
CPI
SV
The output of the determine budget process is:
Cost forecasts
Cost management plan
Cost baseline
During a project, earned value analysis is performed. You get the following numbers:
EV = 50,000 PV = 60,000 AC = 75,000
What are the correct results?
CV = -25000 SV = -10000
CV 10000 SV= -15000
There are 4 activities in your project. Activity A has a planned value of 20,000. Activity B has a planned value of 30,000. Activity C has a planned value of 10,000. Activity D has a planned value of 40,000. What is the BAC?
25000
37000
12500
100000
Determine the variance at completion with the following information:
SV = -50,000
Estimate at completion = 100,000
Budget at completion = 200,000
50000
10000
2
1.5
Direct costs are:
Directly related to the project and can be controlled
Included in overhead costs
Excluded from the project budget
Part of activity cost estimates
Which of the following processes do not belong to the Project Cost Management process group?
Plan cost management
Control cost
Contingency reserve
Cost estimation of individual work packages or activities is called:
Bottom-up estimating
Analogous estimating
Three point estimation
The output of determine budget is:
Activity cost estimate
The earned value calculations for your project are:
BAC = 10,000 EAC = 5,000 ETC = 4,000
What is the VAC and will you be over or under budget?
6000 and over budget
5000 and over budget
1000 and over budget
6000 and under budget
Parametric estimating involves:
Defining cost or duration parameters of the project lifecycle
Calculating the individual cost estimates or each work package & integrating them to obtain the total cost of the project
Using statistical relationship between relevant historical data and other variables to calculate a cost estimate for project work
The EAC is based on:
The actual costs incurred for work completed (AC) and the estimate to complete (ETC) the remaining work
The EV and the actual cost for work completed CV
The cost performance index (CPI) and the cost of variance (CV).
Earned value management (EVM) is a commonly used:
Analysis of the value of the equipment that has been installed in the project as of the status to date.
Analysis of the sum of the labor costs, which have been incurred on the project to date.
Method to assess performance management and progress for projects.
Method of measuring the amount of money that has been spent on the project to date.
You're earned value management analysis indicates that your project is falling behind its baseline schedule. You know this because the cumulative EV is much:
Higher than the AC
Higher than the PV
Lower than the PV
Lower than the CPI
Item PV AC EV
1 10,000 11,000 10,000
2 9,000 8,000 7,000
3 8,000 8,000 8,000
4 7,000 7,000 5,000
1
4
Plan quality management is:
Process of identifying quality requirements
Planning the cost of precision measurement
Identifying project grade
Auditing the quality requirements and results
What would be the least effective tool or method to reduce quality cost?
Statistical sampling
Inspection
Nominal group technique
Control charts
Quality is:
Measure of exactness
Assessment of correctness
Degree to which a set of inherent characteristics fulfill requirements
The 3 quality processes in project quality management are:
Determine quality, monitor quality, plan quality
Cost benefit analysis, cost of quality, cost of conformance
Plan quality management, control quality, perform quality assurance
The Ishikawa Diagram tool is used to:
Gather info on the frequency of poor quality
Help identify the actionable root cause of the problem
Describe the central tendency of a process
Show if a process is stable and predictable
Grade is:
Measure of correctness
Categorization of deliverables having the same functional use but different technical characteristics
The cost of quality includes all of the following EXCEPT:
Prevention costs
Returns
Raw materials
Customer service
The quality management plan is an output of which process:
Project quality management
Plan quality management
Control quality
Increased prevention costs should result in:
Increased frequency of external failures
High internal failure costs
Decreased internal and external failure costs
Pareto diagrams:
Are used to gather attributes data while performing inspections
Identify the vital few sources that are responsible for causing the most problems
Are used to monitor cost and schedule variances
Perform quality assurance is:
The processes and activities that will determine quality policies, objectives & responsibilities
Auditing the quality requirements and results from quality control measurements
Process of determining project grade
Scatter diagrams:
Show forces for and against change
Map operational details of procedures
Seek to explain changes in variable Y in relation to changes in X
A project manager can use a control chart to determine:
The central distribution of a statistical distribution
If the amount of prevention costs are increasing
If a process is stable or predictable
The results of performing the control quality process are:
Decreased costs
Stable processes
Verified deliverables
An example of appraisal costs is:
Rework
Warranties
Training
Inspections
The perform quality assurance process is in:
Checksheets are:
Used to organize facts in a manner that will facilitate the effective collection of useful data about a potential quality problem
Used to monitor cost & schedule variances
Used to describe the central tendency, dispersion, and the shape of the distribution
Degree of quality should be:
Inspected in
Planned in
SWOT
Control Quality is:
Comparing the cost of quality to the requirements
Achieving project objectives of scope, time & cost
Process of monitoring & recording results of quality activities to asses project performance
Understanding, evaluating, defining & managing requirements are essential to satisfying:
Customer expectations
The scope statement
Upper management
Functional requirements
The quality management plan is a component of the ________________ that describes how the organization's quality policies will be implemented.
Project scope
Project management plan
The seven basic quality tools include all of the following EXCEPT:
Calibration graphs
Pareto diagrams
Inspection is:
Examination of a work product to determine if it conforms to documented standards
Documenting results of control quality activities
A validated deliverable required by the project
Which of the following is true regarding precision and accuracy?
Precision is a measure of correctness whereas accuracy is an assessment of exactness
Precision is a measure of exactness, whereas accuracy is an assessment of correctness.
Project Human Resource Management includes the following processes:
Acquire project team, develop project team, HR management plan, performance assessments
Plan HR team, manage project team, evaluate project team, identify project roles
Plan HR management, acquire project team, develop project team, project team
The human resource management plan is an output of which process:
Acquire project team
Plan HR management
Develop project team
Manage project team
The best illustrate for your project teams reporting relationships you would use:
Matrix chart
RACI chart
A hierarchical chart
Which of the following is NOT one of toucans 5 stages of team development?
Norming
Storming
Adjourning
Developing
There is a critical disagreement between two of your project team members. You need to help them resolve the issue. To help them find a solution that is a win for both sides, you would use which technique for resolving conflict?
Force
Withdraw
Collaborate
Smooth
RACI stands for?
Rational Accountable Creative Informed
Responsible Actionable Creative Independent
Responsible Accountable Consulted Informed
The project manager:
Performs the work of the project
The person assigned to lead the team that is responsible for achieving the project objectives
The person who provides the resources and support for the project
A member of your team has broken one of the agreed upon ground rules, who should enforce the rule?
Project Manager
All project team members
Sponsor
The process of developing an appropriate approach and plan for project communications based on stakeholder’s needs, requirements, and available organizational assets is:
Control communications
Plan communications management
Manage communications
Develop communications plan
In addition to distributing information, the Manage Communications process is also concerned with:
Making sure the information has been received and understood
Creating the project communications plan
Planning the correct channel to use to distribute the information
For your new project, you need to produce a simple status update for your Sponsor. What information would you not want to include?
Current status
As a Project Manager in a matrix environment, you do not have direct authority over your project team. However, your team likes you and enjoys working for you. You are relying on what type of influence?
Formal
Referent
Expert
Reward
What topic would likely be covered in the kick off meeting?
Procurement plan
Performance evaluations
Roles and responsibilities
Mid-way through a project, your sponsor comes to you and asks for a monthly project status report to be produced that will help the executive team understand the progress being made on the project. What process are you in now?
Communication models
You have a virtual team working on your project. What is a disadvantage of having a team that is not all located in the same place?
Cannot have kick off meetings
Opportunity for misunderstandings
Easy conflict resolution
The PMO:
Is a person/group that provides resources/support
Standardizes the project related governance
Is a collection of logically related project activities that culminates in the completion of one or more deliverables
Your project team is beginning to work together and adjust their habits to support the team. They are beginning to trust each other more. What development stage is your team in?
Forming
Forcing
You are creating a weekly status update, what process are you in?
Your project team is well organized, interdependent and handles issues effectively. What stage are they in?
Performing
The HRMP should generally include all of the following EXCEPT:
Staffing management plan
Project interfaces
Roles & responsibilities
Project organization charts
Techniques and considerations for effective communications management generally includes all of the following EXCEPT:
Employing organizational process assets to reduce risk
Facilitation techniques for building consensus
Listening techniques
The acquisitions strategy for acquiring a project team consists of:
Hiring consultants from the outside
Obtaining resources through ranking criteria
Acquiring members of the team from other teams within the organization
The Acquire Project Team is the process of confirming human resource availability and obtaining the team necessary to complete project activities. The enterprise environmental factors that can influence this process generally include all of the following EXCEPT:
Organizational structure
Multi-criteria decision analysis
Competency levels, prior experience & cost rate.
Generally acknowledged techniques for resolving conflict include:
Accept, compromise, attack & separate
Smooth compromise collaborate co-locate
Accommodate compromise force & collaborate
Project risk is:
A condition that causes negative impact to the project
A threat to the success of the project
An uncertain event that if it occurs has a positive or negative effect
The strategy to address opportunities and seek to ensure the opportunity happens is:
Avoid
Enhance
Exploit
The risk register is an output of which project risk management process?
Performing qualitative risk analysis
Perform quantitative risk analysis
Plan risk management
Identify risks
The following process is in monitoring & control:
Control risks
Perform quant risk analysis
Relies on anonymous feedback from experts through questionnaires and drives toward consensus
Root cause analysis
Probability impact matrix
Delphi technique
The risk register should include:
Identified risks & WBS number
Identified risks & potential responses
Risk categorization & identified risks
Identified risk & risk analysis
Is used to determine the risk rating to help prioritize risks:
Risk categorization
Expected monetary value analysis
Probability & impact matrix
Helps compare the relative importance & impact of variables that have a high degree of uncertainty to those that are more stable:
Expected monetary analysis
Tornado diagram
Decision tree
Monte carlo technique
Uses a computer to produce many simulations using random sampling to obtain probable results distribution:
Monte Carlo technique
Decision tree diagram
Sensitivity analysis
You are building a skyscraper in New York City. If the project falls behind schedule, you will lose millions of dollars in fees to the city. You want to shift the financial burden of the threat of fees to a third party. What strategy should you use?
Mitigate
Transfer
Your software project is given very good press in The Wall Street Journal. You want to make sure the chances for success are increased so you add more resources to the project. What strategy are you using?
Share
Accept
Qualitative risk analysis deals with:
Developing options for risk responses
Numerically analyzing the effect of risks
Prioritizing risks
Monitoring residual risks
Using Expected Monetary Value Analysis, calculate the average outcome for a project that has either a $300,000 profit and 30% chance of achieving it, or a $100,000 loss and 70% chance of having that happen.
160,000
20,000
400,000
90,000
Process of determining options to reduce threats and enhance opportunities:
Plan risk response
Perform qualitative risk analysis
Your Risk Register calls out several risks, including not having enough resources available to complete the software in time to ship it. You check in weekly with the developers to make sure the software will be completed in time. What process are you in?
When using the Delphi technique, you should:
Have a unanimous decision
Encourage brainstorming
Not share the responses through the entire process
Make sure the participants are experts
In the plan risk responses process, an accept strategy for a negative risk or threat indicates that the project team has decided:
To agree with the PM
To eliminate a specific threat or risk
Not to change the project management plan to deal with a risk, or is unable to identify any other suitable response strategy
As an update of the control risks process, an updated risk register generally includes some or all of the following EXCEPT:
The WBS
Actual outcomes of the projects risks
Outcomes of risk reassessments
To be successful, an organization should be committed to addressing risk management:
Proactively throughout the entire project
As soon as time & cost estimates are ready
As early as possible in the execution phase
The primary output of the identify risks process is the:
Risk mitigation plan
List of the corrective actions
The mitigate risk response strategy:
Reduces the probability of occurrence or impact of a threat
Seeks to make sure the risk negative response happens
Seeks to eliminate the threat or protect the project from its impact
The probability and impact risk assessment thresholds:
Show quantitative risk results for the project
Are determined by the # of threats
Are unique for each organization
Sensitivity analysis helps determine which risks have the most potential impact on the project. How is that info shown?
Probability and impact matrix
Cost/probability chart
Expected monetary value (EMV) analysis has all of the following characteristics except:
It is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.
The EMV of opportunities are generally expressed as positive values, whereas those of threats are expressed as negative values.
EMV analysis cannot be used effectively in decision tree analysis unless a risk-averse assumption is made.
An output of perform qualitative risk analysis is:
Project documents updates
Risk management plan
Meetings
Identify stakeholders is a part of which process group?
You are evaluating various bids to determine which vendor you will purchase your building materials from. What process are you in?
Plan procurement management
Conduct procurements
You are a Project Manager constructing a large building to store your company’s work vehicles. You know exactly what you want built. It will only take 3 weeks to build. In this case, what type of contract would you want to use?
Hybrid
Time & material
Fixed price
Cost reimbursable
You a working on a project that will augment the staff in grade schools by providing temporary substitute teachers for the school district. To account for fixed overhead costs and hourly wages, the best contract type would be:
Fixed cost
The stakeholder register is an output of which process?
Stakeholder analysis
Plan stakeholder management
Manage stakeholder engagement
Identify stakeholders
In the Power/Interest stakeholder grid, which quadrant should you spend the most time on and provide the most attention?
Low p low I
High p low I
High p high I
The stake holder register should contain at least the following:
Identification information, risk analysis, assessment matrix
Stakeholder engagement data flow diagram, risk analysis, assessment matrix
Identification information, assessment information, stakeholder classification
Stakeholder management plan, stakeholder classification, risk analysis
Lessons learned:
Collects project performance data
Shows how events were addressed or should be addressed in the future with the purpose of improving future performance
An event to plan organize and direct work
If a contract has an incentive fee, financial incentives are dependent on:
Inflation
Legal penalties
Agreed upon metrics
During closing, you should hand off the project to:
Exec Sponsor
End User
The group that will own or be responsible on a daily basis
In the agile framework, individuals and interactions are valued more than:
Deliverables
Methodology
Processes & tools
You are a Project Manager for Apple and your latest project is developing the new iPhone 6Z. You need to build a solar battery that will enable the phone to go without charging for 2 weeks at a time. Critical to this project is the new chip design that requires a special assembly line to produce. This new assembly line is not a core competency of Apple. You need to decide what type of contract will work best to acquire the new chip. What procurement process are you in?
Which type of contract is the riskiest for a contractor?
Cost plus fee
Time & materials
Firm fixed price
The output of the conduct procurements process is:
Procurement management plan
Closed procurements
Signed contract agreement
Work performance info
Your project Sponsor is actively engaged in your project and understands the benefits and impacts. How would you classify the Sponsor as a stakeholder?
Resistant
Leading
During the Closing process, you should do all of the following except
Conduct lessons learned
Gain approval to close
Classify stakeholders
Enterprise environ factors are:
Outputs
Project management systems
Conditions that influence or constrain
Who represents the customer in SCRUM?
PM
PT
Product Owner
Procurement is:
Acquiring goods & services
Reviewing contracts
Obtaining the resources you need for the project
The best measure for progress in agile is:
Design
Working software
Technical excellence
Cost plus fixed fee contracts (CPFF) have all of the following characteristics except:
Seller receives a fixed-fee payment calculated as the initial estimated project cost.
The fee is paid only for completed work and does not change due to seller performance unless the project scope changes.
You are involved in the process of communicating and working with stakeholders to meet their needs/expectations, address issues as they occur, and foster appropriate stakeholder engagement in project activities throughout the project life cycle. This is known as:
Communicate with stakeholders
Control stakeholders
Manage Stakeholder Engagement involves all of the following activities except:
Managing stakeholder expectations through negotiation and communication
Avoiding potential concern that have not yet become issues
Anticipating future problems
Clarifying & resolving identified issues
Control Stakeholder Engagement tools and techniques include all of the following except:
Behavior modification analysis
Information management systems
Outputs from the Close Procurements Process generally include all of the following except:
Deliverable acceptance
The contractors working proposal