PMP Exam Prep is designed for Professionals who wish to pursue for PMP Certification. Making Project Management Associates indispensable for business results.
The most costly type of communication typically done in projects isPlease select the best answer.
A.
Formal letters to the customer
B.
Meetings
C.
Technical specification updates
D.
Contract modifications
The correct answer is B. The time used by meetings is expensive.
2.
Soon after you begin a project as a buyer-side project manager, the management team decides to terminate the contract. What should you do?Please select the best answer.
A.
Revisit the Procurement Planning process.
B.
Return to the Solicitation Planning process
C.
Reopen the project for bids.
D.
Begin the Contract Closeout process.
The correct answer is D. When a project is terminated, you should immediately begin the Contract Closeout process to formally close the project and to finalize your records.
3.
A collection of formal, documented procedures that define how project documents may be changed is also known asPlease select the best answer.
A.
Lessons learned
B.
Configuration management
C.
Change control system
D.
Corrective actions
The correct answer is C. Integrated Change Control requires a change control system that consists of formal documented procedures that define the steps used to change formal documents.
4.
Which of the following is not an essential team member commitment?Please select the best answer.
A.
Time
B.
Roles and responsibilities
C.
Project priority
D.
Collocation
The correct answer is D. Collocation is not an essential team member commitment.
5.
According to the PMI®, an effective project manager should bePlease select the best answer.
A.
Empathetic
B.
Proactive
C.
Charismatic
D.
Autocratic
The correct answer is B. The PMI® emphasizes throughout the PMBOK® Guide that project managers should be proactive in their role in a project.
6.
If you try to reduce the probability of the consequences of potential risk events, what actions are you taking?Please select the best answer.
A.
Corrective action
B.
Preventive action
C.
Change action
D.
Retroactive action
The correct answer is B. Preventive action is an input in the Project Plan Execution process that is used to reduce the probability of potential consequences of potential risk events.
7.
The principle objective of project stakeholder management is toPlease select the best answer.
A.
Deflect criticism of the project by developing a list of responses to known shareholder concerns
B.
Identify all potential users of the project to ensure complete requirements analysis
C.
Discredit negative stakeholders so that their arguments and concerns will not have much credence
D.
Be proactive in curtailing stakeholder activities that might adversely affect the project
The correct answer is D. The primary purpose of stakeholder management is to proactively curtail stakeholder activities that could adversely affect the project.
8.
To determine project variances, you start by comparing the reported status of the stage (as of the data date) being analyzed with the projectPlease select the best answer.
A.
Variance analysis
B.
Baseline
C.
Earned value analysis
D.
Cost Performance Index (CPI)
The correct answer is B. To determine project variances, you compare the reported status of the stage being analyzed with the project baseline.
9.
According to the PMBOK® when should Risk Identification be performed?Please select the best answer.
A.
When preparing the project plan
B.
When updating the Work Breakdown Structure
C.
On a regular basis throughout the project
D.
Just before a meeting with the project team
The correct answer is C. Risk Identification should occur throughout the project.
10.
If work to date on a project was budgeted at $15,000 and was scheduled to finish today, but instead cost $13,500 and it is only half complete, what is the cost variance (CV) using the percent complete rule?Please select the best answer.
A.
-$6,000
B.
-$5,000
C.
-$1,500
D.
$1,500
The correct answer is A. Before calculating the CV for this project, you must calculate the EV. Since the project is only half complete, the project’s EV is $7,500. So, $7,5000 (EV) – $13,500 (AC) = -$6,000 (CV).
11.
Project Scope Management consists of which of the following processes?Please select the best answer.
A.
Project Plan Creation, Scope Definition, Scope Verification, Resource Planning
B.
Project Plan Creation, Scope Definition, Scope Verification, Change Control System
C.
Initiation, Project Plan Creation, Scope Planning, Scope Verification, Scope Change Control
D.
Initiation, Scope Planning, Scope Definition, Scope Verification, Scope Change Control
The correct answer is D. The Project Scope Management processes are Initiation, Scope Planning, Scope Definition, Scope Verification, and Scope Change Control.
12.
A project manager can use the actual duration of a previous, similar activity as a basis for estimating a future activity. That practice is calledPlease select the best answer.
A.
Pareto estimating
B.
Monte Carlo estimating
C.
Analogous estimating
D.
PERT estimating
The correct answer is C. Analogous estimating, also called top-down estimating, involves using the actual duration of a previous, similar activity as the basis for estimating the duration of a future activity.
13.
A project was estimated to cost $1.5 million and scheduled to last six months. After three months, the earned value analysis shows the following: EV = $325,000, PV = $275,000, and AC = $480,000. What are the schedule and cost variances?Please select the best answer.
A.
SV = +$100,000 / CV = -$205,000
B.
SV = +$50,000 / CV = -$155,000
C.
SV = +$155,000 / CV = -$50,000
D.
SV = -$50,000 / CV = + $155,000
The correct answer is B. $325,000 (EV) – $275,000 (PV) = $50,000 (SV). $325,000 (EV) – $480,000 (AC) = -$155,000 (CV).
14.
Exerting one’s viewpoint at the potential expense of another party, thus establishing a win-lose situation, best describes which conflict resolution method?Please select the best answer.
A.
Problem solving
B.
Withdrawal
C.
Forcing
D.
Smoothing
The correct answer is C. Forcing is the process of exerting one’s viewpoint at the potential expense of another party, thus establishing a win-lose situation.
15.
Your project team, which previously consisted of three people, has had two new members added to the team due to a scope increase. How many communications channels do you now have?Please select the best answer.
A.
2
B.
3
C.
5
D.
10
The correct answer is D. Based on the formula for calculating communications channels, a team of five members has 10 communications channels.
16.
A flowchart that presents only major or fundamental steps in a process or project is called aPlease select the best answer.
A.
Control chart
B.
Pareto chart
C.
Bottom-up analysis
D.
Top-down analysis
The correct answer is D. A flowchart that presents only major or fundamental steps in a process or project is called a top-down flowchart.
17.
Project managers can contribute to their organization’s project management knowledge base and to the profession most effectively byPlease select the best answer.
A.
Promoting the use of ad hoc project management skills
B.
Ensuring that all project plans are created before the team is formed
C.
Developing and implementing a project review and lessons learned process
D.
Throwing a party for project managers
The correct answer is C. The project managers in the organization can share their experiences during the creation of the project review and lessons learned process.
18.
Which of the following is a tool or technique used in the Initiation process in Project Scope Management?Please select the best answer.
A.
Expert judgment
B.
Project budget
C.
Product analysis
D.
Project schedule development
The correct answer is A. Expert judgment is a tool used in the Initiation process.
19.
Which of the following best describes why procurement is necessary in the Staff Acquisition process?Please select the best answer.
A.
The budget allows for external talent to be recruited.
B.
The process enables the project to have a broad-based skill set.
C.
It is part of the scope management plan.
D.
The organization lacks the in-house resources needed to complete the project.
The correct answer is D. If in-house resources are not available to complete the project on time, procuring outside talent is necessary.
20.
Determining how closely a project conforms to its approved schedule is best accomplished byPlease select the best answer.
A.
Comparing the baseline schedule with the current status
B.
Comparing the current status with the expenditure rate
C.
Running several iterations of the network to conduct a what-if exercise
D.
Analyzing the work completed vs. the work scheduled
The correct answer is A. Comparing the baseline schedule with the current status is a sound method of determining how closely the actual schedule approximates the approved schedule.
21.
What is coercive power?
Please select the best answer.
A.
Power that involves positive reinforcement and the ability to award people something of value in exchange for their cooperation
B.
Power that is based on citing the authority of a more powerful person as the basis for one’s own authority
C.
Power that denotes budget or spending authority held by the project manager
D.
Power that is predicated on fear
The correct answer is D. Coercive power, which is based on fear, derives from the project manager’s control over the project and project personnel.
22.
During Initiation in Scope Management, which of the following is NOT normally an element of the project charter?
Please select the best answer.
A.
The project budget
B.
Work package descriptions
C.
The project milestones
D.
The expected ROI
The correct answer is B. The project charter is a high-level document that does not contain detailed information such as the work package descriptions.
23
A project was budgeted $8,000 and expected to be completed yesterday. It is actually 85 percent complete and has an actual cost (AC) of $9,000 to date. What was the planned value (PV) for this project at the end of the day yesterday?
Please select the best answer.
A.
$6,800
B.
$7,650
C.
$8,000
D.
$9,000
The correct answer is C. The planned value (PV) is the sum value of the planned budget on an activity or project in a given time period.
24.
A project was estimated to cost $1.5 million and scheduled to last six months. After three months, the earned value analysis shows the following: EV = $650,000, PV = $750,000, and AC = $800,000. What are the schedule and cost variances?
Please select the best answer.
A.
SV = -$100,000 / CV = -$150,000
B.
SV = -$50,000 / CV = +$150,000
C.
SV = +$100,000 / CV = +150,000
D.
SV = +150,000 / CV = -$100,000
The correct answer is A. $650,000 (EV) – $750,000 (PV) = -$100,000 (SV). $650,000 (EV) – $800,000 (AC) = -$150,000 (CV).
25.
The normal risk of doing business that carries opportunities for both gain and loss is
Please select the best answer.
A.
Opportunity risk
B.
Favorable risk
C.
Business risk
D.
Pure risk
The correct answer is C. Business risks are risks that are normal in any business that carries opportunities for both gain and loss.
26
Which of the following is a tool or technique used in Integrated Change Control to assess whether variances from the plan require corrective action?
Please select the best answer.
A.
Organizational procedures
B.
Status meetings
C.
Performance measurement
D.
Project plan updates
The correct answer is C. Techniques in performance management can help determine whether variances from the plan require corrective action.
27.
A project status meeting is not going well. Many people are talking at the same time, others are not participating, and many topics are being discussed at random. Which of the following rules of effective meetings is evidently NOT being adhered to?
Please select the best answer.
A.
Scheduling meetings in advance
B.
Showing courtesy and consideration for others
C.
Determining a purpose for the meeting
D.
Having and using an agenda
The correct answer is D. The meeting activities described in the question indicate that a meeting agenda was either not created or is not being used.
28.
A risk management plan is developed through team meetings that include
Please select the best answer.
A.
The project sponsor and customers
B.
The risk manager and project leader
C.
The project manager, project team, and stakeholders
D.
Only people responsible for managing and dealing with risks
The correct answer is C. Planning meetings to develop the risk management plan should include the project manager, project team, stakeholders, and people responsible for managing and dealing with the risks.
29.
With regard to a cost baseline, all of the following are true EXCEPT
Please select the best answer.
A.
It can be easily created and updated as necessary.
B.
It is a time-phased budget that will be used to measure and monitor cost performance on the project.
C.
Its graph is generally in the form of an S-curve.
D.
It is developed by summing estimated costs by period.
The correct answer is A. A cost baseline is normally not easily updated; the baseline is a constant that you determine and then track project progress against.
30.
which of the following would you do if you needed the seller to start work on a project immediately?
Please select the best answer.
A.
Sign a time-and-materials (T&M) contract for the entire effort.
B.
Issue a letter contract, but follow up as soon as possible with some type of financial incentive contract.
C.
Negotiate a cost-sharing arrangement.
D.
Negotiate a fixed-price (FP) contract.
The correct answer is B. If you need a contractor to start work immediately, the best option would be to issue a letter contract, but follow up as soon as possible with some type of financial incentive contract.
Looking for something in this Site? Let ME help U!
It Helps? Make It!
Well... If you really become a millionaire after knowing me :) Don't forget to come back and donate some!
You Like? Do It!
To receive notification every time I publish a new information, subscribe to my blog's feed by email or RSS feed (see right sidebar). Note: We will NEVER share your email address for any reason and you can easily unsubscribe at any time!
Loading ...
Print This Post
You can contribute blog posts by registering yourself as a user, click here
PMP Exam Materials
Loading ...
Bookmark & Share
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment