PMP Exam Prep is designed for Professionals who wish to pursue for PMP Certification. Making Project Management Associates indispensable for business results.
A project budget is set at $2,300,000 for the total project. Some work that must be accomplished has not been identified in the initial planning. The most appropriate source of funds to cover this work is known asPlease select the best answer.
A.
Contingency reserve
B.
Management money
C.
Sinking fund
D.
Slush fund reserve
The correct answer is A. A contingency reserve can consist of funds that are set aside for known and unknown risks.
2.
While testing the strength of concrete poured on your project, you discover that over 35 percent of the concrete does not meet your company’s quality standards. You feel certain the concrete will function fine, and you don’t think it needs to meet the specified quality levels. What should you do?Please select the best answer.
A.
Change the quality standards to meet the level achieved.
B.
List in your reports that the concrete meets the company’s quality needs.
C.
Ensure the remaining concrete meets the standards.
D.
Report the lesser quality level and try to find a solution.
The correct answer is D. If your company’s standards are set at a level that is not met, it is your responsibility to report it and to try to find a solution to meet the standards.
3.
Project Procurement Management includes which of the following processes?Please select the best answer.
The correct answer is A. Project Procurement Management includes Procurement Planning, Solicitation Planning, Solicitation, Source Selection, Contract Administration, and Contract Closeout.
4.
If a risk has a 15 percent chance of happening in a given month and the project is expected to last 5 months, what is the probability that the risk will occur during the fourth month of the project?Please select the best answer.
A.
Less than 1 percent
B.
3 percent
C.
15 percent
D.
25 percent
The correct answer is C. The probability is 15 percent since the risk has a 15 percent chance of happening in any given month.
5.
Which of the following is not considered a Qualitative Risk Analysis tool or technique in the Project Risk Management knowledge area?Please select the best answer.
A.
Data precision ranking
B.
Assumptions testing
C.
The probability/impact risk rating matrix
D.
Empirical data model
The correct answer is D. The empirical data model is not a tool used in Qualitative Risk Analysis.
6.
Two commonly used Quality Control techniques that show how elements of a system relate arePlease select the best answer.
A.
Scatter diagrams and control charts
B.
Cause-and-effect diagrams and process diagrams
C.
Pareto charts and trend analysis
D.
Process charts and control charts
The correct answer is B. Two common flowcharting techniques used to display relationships among elements of a system are cause-and-effect diagrams and process diagrams.
7.
A project manager uses two graphical representations of the project schedule: a network diagram to detail logical workflow and a Gantt chart toPlease select the best answer.
A.
Analyze schedule variance
B.
Plot critical path
C.
Visualize timing
D.
Crash the schedule
The correct answer is C. The Gantt chart’s bar graph format enables the PM to visualize the timing of activities.
8.
Your professional responsibilities as a project manager include all of the following EXCEPTPlease select the best answer.
A.
Maintaining professionalism and skills development
B.
Following legal requirements
C.
Authoring books on project management
D.
Adhering to the PMI® PMP Code of Professional Conduct
The correct answer is C. Writing project management books is not a professional responsibility of a project manager.
9.
Scope creep may be a result ofPlease select the best answer.
A.
Not having a scope change control process in place
B.
The client asking for more changes to the project
C.
Resources being taken away from the project
D.
The scope statement disappearing from the project database
The correct answer is A. Without a scope change control process in place, changes to the project scope can increase uncontrollably.
10.
What is the term for a narrative description of products or services to be supplied under contract?Please select the best answer.
A.
Statement of work
B.
Conceptual estimate
C.
Preliminary estimate
D.
Project plan
The correct answer is A. A statement of work (SOW) is a narrative description of products or services to be supplied under contract.
11.
Typical organizational policies includePlease select the best answer.
The correct answer is B. Typical organizational policies include formal and informal policies such as quality management, personnel administration, and financial controls.
12.
A project manager believes that modifying the scope of the project may provide added value for the customer. The project manager shouldPlease select the best answer.
A.
Prepare a variance report
B.
Change the project’s objectives
C.
Use a change management process
D.
Change the scope baseline
The correct answer is C. Before modifying the scope, the project manager should comply with the established processes for managing change.
13.
When choosing the appropriate form of project organization, what is the first step?Please select the best answer.
A.
Refer to the project charter.
B.
Develop a project schedule, including a top-down flowchart.
C.
Create a Work Breakdown Structure (WBS) to determine the project organization structure.
D.
Produce an initial project plan and determine the functional areas responsible for each task.
The correct answer is D. It is important to assess the functional areas responsible for each task using an initial project plan, and then to break this down into specific team members and their corresponding activities.
14.
_______________________ is the process of implementing the communications plan to update project stakeholders in a timely fashion.Please select the best answer.
A.
Communications Planning
B.
Information Distribution
C.
Administrative Closure
D.
Performance Measurement
The correct answer is B. Information Distribution is the process of implementing the communications plan to project stakeholders in a timely fashion.
15.
Which of the following is an output of the Scope Verification process in Project Scope Management?Please select the best answer.
A.
Work results
B.
Inspection
C.
Scope changes
D.
Formal acceptance
The correct answer is D. According to the PMBOK®, formal acceptance is an output to the Scope Verification process.
16.
Which of the following methods of conflict resolution provides a cooling-off period but seldom resolves the issue in the long term?Please select the best answer.
A.
Withdrawal
B.
Problem solving
C.
Smoothing
D.
Forcing
The correct answer is A. Withdrawal offers temporary conflict relief but does not resolve the problem at hand.
17.
You work on a project in a weak matrix organization. The most important general management skill to have in this situation isPlease select the best answer.
A.
Leadership
B.
Legitimate power
C.
Organizational influence
D.
Formal communication
The correct answer is A. Leadership involves motivating and inspiring project team members. In a weak matrix, where team members have a strong functional manager influence, this is the best way to keep team members productive.
18.
Earned value analysis is BEST described asPlease select the best answer.
A.
A project technique that requires the input from client representatives
B.
A project accounting technique
C.
A project simulation technique
D.
A technique of project performance measurement
The correct answer is D. Earned value analysis is a technique of project performance measurement.
19
Risk impact in the Project Risk Management knowledge area is defined asPlease select the best answer.
A.
The loss associated with individual risk
B.
The number of possible risk events
C.
The probability that the risk will occur
D.
The risk event
The correct answer is A. Risk impact is the loss associated with individual risk.
20.
Which of the following contract types does not encourage the seller to control costs and, as a result, places the greatest risk on the buyer?Please select the best answer.
A.
Cost plus fixed fee (CPFF)
B.
Firm fixed price (FFP)
C.
Cost plus percentage of cost (CPPC)
D.
Cost plus incentive fee (CPIF)
The correct answer is C. Cost-plus-percentage-of-cost (CPPC) contracts do not encourage the seller to control costs and place the greatest risk on the buyer.
21.
Project Communications Management is BEST described as conducting or supervising which of the following?
Please select the best answer.
A.
The project documentation activities
B.
The exchange of project information
C.
The way team members feel
D.
The way team members listen
The correct answer is B. Project Communications Management involves the exchange of project information.
22.
Which of the following estimate types is the most precise and accurate?
Please select the best answer.
A.
Analogy
B.
Definitive
C.
Order-of-magnitude
D.
Budget
The correct answer is B. According to the PMBOK, a definitive estimate (with a range of -5 percent to +10 percent) is the most precise and accurate estimate type because it is based on activities contained in the WBS.
23.
Which of the following is an appropriate reason to use financial incentives in a contract?
Please select the best answer.
A.
To increase the overall schedule
B.
To enhance project performance
C.
To attain the minimum performance required by the contract
D.
To increase the overall cost
: The correct answer is B. The only valid reason to use financial incentives in a contract is to enhance project performance.
24.
Your company’s project review committee meets monthly to review any project with a budget exceeding $200,000. You are the project manager for a new project estimated to cost $1 million, so you have been asked to this meeting to present your project objectives, work content, and deliverables. According to the PMBOK®, which of the following documents will you require?
Please select the best answer.
A.
Product description
B.
Project charter
C.
Work Breakdown Structure
D.
Scope statement
The correct answer is D. In preparation for your meeting, you must draft a clear scope statement that identifies your project objectives, work content, and deliverables.
25.
In the PMBOK® Project Quality Management knowledge area, the three types of quality costs are
Please select the best answer.
A.
Conformance costs, nonconformance costs, and internal costs
B.
Internal costs, external costs, and planning costs
C.
Planning costs, assurance costs, and control costs
D.
Prevention costs, appraisal costs, and failure costs
The correct answer is D. Prevention costs and appraisal costs are costs of conformance, and failure costs are costs of nonconformance. Prevention, appraisal, and failure make up the three types of quality costs.
26.
Gantt charts are less useful than network charts for
Please select the best answer.
A.
Automating schedule analysis
B.
Showing workflow for large projects
C.
Comparing actual to planned durations
D.
Presenting the project schedule
The correct answer is B. While simple Gantt charts can display dependencies between activities, network charts are better for larger projects.
27.
Which of the following is an example of an organizational policy that you should consider as you develop a project plan?
Please select the best answer.
A.
Predefined budget
B.
Process audits
C.
Records of past project performance
D.
Specific start date of key personnel
The correct answer is B. Process audits are considered an organizational policy under quality management during the Project Plan Development process.
28.
Which of the following statements is true about ISO 9000?
Please select the best answer.
A.
ISO 9000 is a paperwork nightmare.
B.
ISO 9000 is an international standard for quality management systems.
C.
ISO 9000 certification ensures that a company produces quality products.
D.
ISO 9000 is a European standard.
The correct answer is B. ISO 9000 is an international standard for quality management systems published by the International Organization for Standardization (ISO).
29.
Project Human Resource Management consists of which of the following processes?
Please select the best answer.
A.
Cost Control, Scheduling, Team Assessment
B.
Pert Planning, Quality Control, Team Development
C.
Organizational Planning, Staff Acquisition, Team Development
D.
Risk Assessment, Policy Documentation, Team Development
The correct answer is C. The processes of Project Human Resource Management are Organizational Planning, Staff Acquisition, and Team Development.
30.
Resource histograms show which of the following?
Please select the best answer.
A.
Resource requirements in a given time period
B.
Indirect resource costs
C.
Overhead costs
D.
Resources used for each activity in a given time period
The correct answer is A. Resource histograms show resource requirements in a given period of time.
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