Project Management Professional

    Exam PMP

Edition 15.0

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Question 1

You are in process of identifying and documenting the project roles and responsibilities and create staffing management plan. All of the following should be addressed when listing the roles and responsibilities EXCEPT:

A. Competency

B. Authority

C. Responsibility

D. Compliance

E. Role

Answer: D

 

Question 2

Reserve analysis is a tool /technique in all of the following processes EXCEPT:

A. Cost budgeting

B. Activity resource estimation

C. Risk monitoring and control

D. Activity duration estimation

E. Cost estimation

Answer: B

 

Question 3

Which of the following are NOT outputs of the Activity Duration Estimation process?

A. Activity Duration Estimates

B. Schedule baseline

C. None of the choices are correct

D. Updates to activity attribute

Answer: B

 

Question 4

Which of the following statements are FALSE regarding the project scope management plan?

A. The project scope management plan describes how the project scope will be defined and managed by the project scope management team

B. The project scope management plan specifies how formal verification and acceptance of the project deliverables will be satisfied.

C. The project scope management plan is contained within the project management plan.

D. The project scope management plan identifies the influence and interest of the stakeholders and documents their expectations E. The project scope management plan is an output of the Scope Planning process

Answer: D

 

Question 5

Which of the following statements are TRUE regarding various Activity Scheduling tools?

A. PDM allows for conditional branching and iteration of activities B. PDM uses activity-on-node (AON) diagramming method.

C. PDM allows for conditional branching and iteration of activities D. PDM uses analogous methods as an estimation technique.

Answer: B

 

Question 6

Which of the following can be used to determine what work is included in each work package for each of your team members?

A. None of the choices are correct

B. WBS dictionary

C. RBS

D. Project scope statement

E. Project schedule

Answer: B

 

Question 7

Which of the following statements are FALSE regarding rolling wave plan?

A. Rolling Wave Planning is a phased iterative approach to project development

B. Rolling Wave Planning is a cost and schedule planning technique used in the Activity Definition process

C. Rolling Wave Planning is the process of decomposing each work package within the WBS into the corresponding schedule activities required to produce the work package deliverables D. Rolling Wave Planning describes a form of progressive elaboration planning where the work to be performed in the near time is planned in detail at a low level of the WBS, while work far 

in future is planned for WBS components that are relatively at a high level of WBS.  

Answer: C

 

Question 8

Which of the following statements are FALSE regarding Expected Monetary Value Analysis (EMV)?

A. EMV is a statistical concept that calculates the average outcome of project outcomes based on various assumptions and 

scenarios.

B. Decision tree analysis is a type of EMV analysis

C. EMV is a tool/ technique of  Qualitative Risk Analysis D. EMV is calculated by multiplying the value of each possible outcome by its probability of occurrence, and summing them together

Answer: C

 

Question 9

Which of the following describes a group of elated schedule activities aggregated at some summary level, displayed reported as a single activity at summary level?

A. Work activity

B. Control account

C. Planning package

D. Milestone activity

E. Hammock activity

Answer: E

 

Question 10

Which of the following are NOT tools/ techniques of the Activity Definition Process?

A. Expert judgment

B. Decomposition, templates

C. Rolling wave planning

D. Planning component

E. Schedule network templates

Answer: E

 

Question 11

You are in process of developing an approximation of the costs of resources needed to complete each schedule activity. Which of the following is the LEAST helpful input?

A. WBS, WS dictionary

B. Market place conditions, commercial databases

C. Cost estimating policies/ templates, historical information, project team knowledge

D. Schedule management plan, staffing management plan, risk register

E. Activity cost estimates, activity cost estimate supporting detail 

Answer: E

 

 

Question 12

Planning components are tools/ techniques of the Activity Definition Process. Which of the following are planning components?

A. Rolling wave planning, decomposition

B. Control account, planning package

C. Milestone list, schedule network templates 

D. Control package, planning account

Answer: B

 

 

Question 13

You are in process of numerically analyzing the effects of identified risks. Which of the following are NOT tools/ techniques you can use in the process?

A. Sensitivity analysis

B. Reserve analysis

C. Expected monetary value analysis

D. Modeling and simulation

E. Decision tree analysis

Answer: B

 

Question 14

Which of the following describes tool/ technique where expenditure of funds is reconciled with the funding limits imposed by the performing organization?

A. Forecasting

B. Cost reconciliation

C. Funding limit reconciliation

D. Reserve reconciliation

E. Cost aggregation

Answer: C

 

Question 15

Which of the following situations will cause schedule activity duration estimates to directly influence the cost estimates EXCEPT: A. When resource cost rate information is unavailable from commercial databases

B. When resources are applied per unit of time of duration of schedule activity

C. When union labor with regularly expiring collective bargaining agreements are involve

D. When seasonal cost variations are involve

E. When project budget includes interest rate changes Answer: A

 

Question 16

Which of the following statements are FALSE regarding cost-reimbursable contracts?

A. cost-reimbursable contracts generally carry the highest risks to the buyer, as the total costs are uncertain

B. cost-reimbursable contracts often includes incentives for meeting or exceeding project objectives

C. cost-reimbursable contracts resemble fix unit agreements when the unit rates are preset by the buyer and seller

D. cost-reimbursable contracts are contracts that involves payments to the seller for actual costs, plus a fee representing the sellers profit

Answer: C

 

Question 17

You have been hired as a project manager for a small local bank. The banks wants you to design and develop custom online bill pay software so that its customers can pay their bills online.

You are ready to begin the activity definition of your project. You have identifies the scope statement, the WBS, and talked with the SME’s. In addition, for security reason, you have been informed that project team members must NOT have criminal history with the FICO score of 700 or above. In addition you’ve requested that the bank purchase the necessary transaction processing software, although the software is not yet available. What else do you need before you begin activity definition?

A. Identify the historical information on previous projects B. Identify the activity attributes

C. Identify the constraints and assumptions of the project D. Identify the activities lists

E. Identify the milestone list

Answer: A

 

Question 18

You are the project manager at a software company developing the next-gen OODBMS (Object Oriented Data Base Management System). 

As software development can be very chaotic, your company has elected to follow a more rigorous approach to software development.

Specifically your company has chosen to adopt the extreme programming XP methodology for your current software project.

The XP methodology is highly iterative, and produces numerous deliverables include UML diagrams, architecture diagrams, prototypes and test-cases.

Assume you are in the Activity Sequencing phase of the project. Which of the following sequencing methods should you use to identify the logical relationships between tasks, so that the activities can be sequenced correctly?

A. ADM

B. PDM

C. GERT

D. AOA

Answer: C

 

Question 19

All of the statements regarding control accounts and planning packages are true EXCEPT:

A. Control accounts and planning packages are tools / techniques of Schedule Development process.

B. A control account is an assigned WBS level used to monitor cost and schedule performance of significant element of work.

C. Planning packages reflect a future segment of work within a control account that has not yet been decomposed into detailed work packages. 

D. As work becomes more clearly defined, planning packages are converted into work packages.

Answer: A

 

Question 20

Reverse analysis is a tool/ technique in all of the following processes EXCEPT:

A. Risk monitoring and control

B. Activity resource estimation

C. Cost estimation

D. Cost budgeting

Answer: B

 

Question 21

Your project sponsor has asked you to produce a Risk Management Plan for your current project. Which of the following best describes how you should tailor the plan to your project?

A. The plan must include the predefined risk management policies as they relate to the organization

B. The plan must ensure that the level of details and risk management efforts are commensurate with the level of risk and importance of the project

C. The plan must be predefined templates as defined by the organization

D. The plan must include the predefined roles and responsibilities as they relate to risk management.

Answer: B

 

Question 22

You are the project manager at a manufacturer of electronic components. Your company had been a long time market leader in electronic components distribution industry. However, in recent years, the Internet has transformed the competitive landscape. As a result company’s market share has been eroding.

Hence, your current project involves implementing the company’s internet strategies to best exploit these altered dynamics and increase the company’s market share. You commit to completing the project deliverables by this date. Which of the following BEST describes why this is the INCORRECT way to estimate the schedule?

A. A network diagram should have been used to produce the estimates.

B. The estimates should have been created by management.

C. The estimates should have accounted for the market dynamics and timing requirements.

D. The project sponsor should have been actively involved in producing the estimates.

Answer: A

 

Question 23

Reverse analysis is a tool/ technique in ll of the following processes EXCEPT:

A. Risk monitoring and control

B. Activity resource estimation

C. Cost estimation

D. Cost budgeting

E. Activity duration estimation

Answer: B

 

Question 24

Monte Carlo analysis is a form of what type of analysis?

A. Critical path method

B. Schedule compression

C. What-if scenario analysis

D. Resource-leveling

E. Critical chain method

Answer: C

 

Question 25

You have been hired as a project manager for a small local bank. The bank wants you to design and develop custom online bill pay software so that its customers can pay their bills online. You are ready to begin the Activity Resource Estimation process for your project. Which of the following would you NOT consider when developing the activity resource requirements document?

A. Resource availability

B. Project management plan

C. Resource breakdown structure

D. Activity list 

E. Activity attributes

Answer: C

 

Question 26

A project schedule can be presented in various formats. All of the following are valid formats of the project schedule EXCEPT: A. Activity-on-node diagram

B. Logic bar chart

C. Time-scaled schedule network diagram

D. Milestone charts

E. Flow charts

Answer: E

 

Question 27

All of the following statements are true regarding the Activity Sequencing / Activity Duration Estimation process EXCEPT: A. Activity duration estimates should specify a single, specific duration, and NOT a range of durations

B. Analogous estimation is a form of expert judgment that is used as a tool / technique in activity duration estimation C. Precedence diagramming methods are tools/ techniques of activity sequencing process

D. Activity duration estimates are an output of activity duration estimates.

Answer: A

 

Question 28

Your project team has already created the WBS, developed estimates for the work packages, and sequenced the project activities using the arrow diagramming method. In addition, your team has applied resource leveling and schedule compression techniques on the project schedule. Which actions should be performed NEXT:

A. Obtain approval of schedule

B. Decompose the work packages into smaller components called schedule activities

C. Develop activity resource requirements

D. Initiate schedule change control

E. Obtain acceptance of completed project scope

Answer: A

 

Question 29

You are the project manager responsible for developing a new hybrid engine for a major auto manufacturer. You are in process of developing the project schedule. In order to manage the uncertainty associated with the project schedule, you intend to do the following: (a) use average task duration estimates; (b) schedule backwards from the date a project is needed (to ensure work that needs to be done is done, and it is done only when it is needed; (c) place 

aggregate buffers in the project plan to protect the entire project and the key tasks; and (d) use buffer management to control the plan. 

Which of the following BEST describes the technique you are using?

A. Critical chain method

B. Resource leveling

C. Decision tree analysis

D. Monte Carlo analysis

E. Critical path method

Answer: A

 

Question 30

Which of the following process involves determining project roles, responsibilities, and reporting relationships, and develops the staffing management plan?

A. Manage project team

B. Human resource planning

C. Develop project team

D. Acquire project team

Answer: B

 

Question 31

Three-point estimates are based on determining three types of estimates. Which of the following is NOT one of these estimates?

A. Most likely

B. Conservative

C. Pessimistic

D. Optimistic

Answer: B

 

Question 32

Which of the following statements are FALSE regarding project funding requirements?

A. Funding requirements are derived from cost baselines B. Portions of management reserve can be include in each funding step

C. The total funds required are the cost baseline plus the management contingency reserve amount

D. Funding usually occurs in incremental amounts that are continuous, and hence appears as S-shaped curves

E. Management reserves are not par of the project cost baseline, but are included in the budget for the project.

Answer: D

 

Question 33  

Which of the following processes involves allocating cost estimates in order to establish a cost baseline for measuring project performance?

A. Cost estimating

B. Cost control

C. Activity cost estimating

D. Cost budgeting

Answer: D

 

Question 34

Which of the following statements are TRUE regarding various activity scheduling tools?

A. ADM allows for conditional branching and iteration of activities

B. PDM allows for conditional branching and iteration of activities

C. PDM uses analogous methods as an estimation technique

D. PDM uses activity-on-node (AON) diagramming methods 

Answer: D

 

Question 35

Which of the following are NOT inputs to the risk identification process?

A. Historical information

B. Risk categories

C. Risk management plan

D. Risk thresholds

Answer: D

 

Question 36

Which of the following are NOT outputs of the activity duration estimating process?

A. Updates to activity attributes

B. None of the choices are correct

C. Schedule baseline

D. Activity duration estimates

Answer: C

 

Question 37

You are in process of identifying and documenting project risks. You are using various information gathering techniques to identify the project risks. All of the following are information gathering techniques EXCEPT:

A. Diagramming techniques

B. SWOT analysis

C. Root cause identification

D. Delphi techniques

E. Interviewing

Answer: A

 

Question 38

Which of the following statements are FALSE regarding Monte Carlo analysis?

A. Monte Carlo is used to determine potential project outcomes by simulating the project under different scenarios

B. Monte Carlo analysis used expected value (EV) calculations as one of its inputs

C. Monte Carlo analysis can be used during the Schedule Development and Quantitative Risk Analysis process

D. Monte Carlo is simulation technique that can help quantify risks associated with the project

Answer: B

 

Question 39

You are currently the project manager at rapidly growing retailer of high-end electronics equipment. You have been tasked with the project of expanding business. You are currently evaluating opening retail stores in one of three US-based locations: New York, Seattle, San Francisco.

You have been told that the San Francisco market has smaller market potential, but higher probability of success. On the other hand, the New York market has a larger market potential but lower probability of success. And the Seattle market is in between. Your project manager has given you the following forecast. Which of the flowing opportunity is the BEST choice?

A. Either New York or San Francisco

B. Seattle

C. New York

D. San Francisco

Answer: B

 

Question 40

You are in process of developing an approved project schedule that will serve as a baseline against which the project can be tracked. Which of the following is needed in order to complete schedule development?

A. Requested changes

B. Performance measurements

C. Approved change request

D. Schedule change control systems

E. Reserves

Answer: E

 

Question 41

Supporting details for activity cost estimates should include all of the following EXCEPT:

A. Range of possible estimates

B. Description of project scope of work

C. Documentation of constraints and assumptions

D. Performance measurements

E. Documentation of how the estimates were development Answer: D

 

Question 42

Which of the following statements regarding WBS is false?

A. To identify the major deliverables of the project requires analyzing the preliminary project scope statement

B. The work package is the lowest level in the WBS

C. A WBS from a previous project can often be used as a template for a new project

D. Different deliverables in the WBS can have different levels of decomposition

E. The WBS is an outcome of the Create WBS process

Answer: A

 

Question 43

Roger works for a manufacturer of automotive engines. He has been recently assigned to supervise and mange the manufacturing of a new model of diesel engine. He informs \roger that his new assignment will be to have 500 units of the new diesel engine manufactured in 60 

days. Roger is currently in the process of analyzing activity sequences, activity durations, and resource requirements in order to develop the project schedule. Which of the following processed is Roger performing?

A. Activity duration estimation

B. Schedule development

C. Activity sequencing

D. Activity duration

E. Activity resource duration

Answer: B

 

Question 44

All of the following should be included in the initial staffing management plan as part of Human Resource planning EXCEPT: A. Release criteria, recognition and rewards

B. Compliance

C. Work performance information

D. Safety, training needs

E. Staff acquisition, timetable

Answer: C

 

Question 45

You have been recently assigned to provide an accurate project schedule for a large construction company.

Your lead engineer has given you the following estimates for several critical path activities. Your stakeholders want you to commit to a completion date for these critical path activities. Which of the following statements are true?

A. There is approx. 68 percent chance that the project will complete between 64 days and 78 days.

B. There is approx. 95 percent chance that the project will complete between 64 days and 78 days.

C. There is approx. 68 percent chance that the project will complete between 57 days and 85 days.

D. There is approx. 99 percent chance that the project will complete between 64 days and 78 days.

Answer: A

 

Question 46

Which of the following are NOT tools/ techniques of the Plan Contracting Process?

A. None of the choices are correct

B. Expert judgment

C. Screening systems

D. Standard forms

Answer: C

 

Question 47

You are in process of defining how to plan and execute the risk management activities for your project. Which of the following statements are false?

A. The output of this process is risk management plan B. The inputs to this process includes the project scope statement, project management plan, and the risk register

C. The tools/ techniques of this process are planning meetings and analysis

D. None of the choices are correct

Answer: B

 

Question 48

You are the project manager responsible for developing a new online line bill payment system for a utility company. You are expected to complete the project within the next year. You are currently in the process of identifying and evaluating a number of risks quantifying their impacts and identifying their probability of occurrence. You would like to use a tool that will determine the highest expected value for the various scenarios. Which of the following tools should you use?

A. Monte Carlo simulation

B. Decision tree analysis

C. Ishikawa diagrams

D. Critical path method

E. Risk Data Quality Assessment

Answer: B

 

Question 49

The CPM calculates the earliest start date, earliest finish date, and latest finish date for each activity. Which of the following statements are true regarding the critical path of a project schedule?

A. The float/slack time is determined by subtracting the early start date from the early finish date

B. Any project activity with the slack time of zero or greater is considered a critical path tasks

C. None of the statements are true

D. The float/slack time is determined by subtracting the early start date from the finish date

Answer: D

 

Question 50

The risk register is an input to all of the following processes EXCEPT: A. Risk response planning

B. Risk monitoring and control

C. Risk identification

D. Qualitative risk analysis

E. Quantitative risk analysis

Answer: C

 

 

 

Question 51

You are currently in the process of analyzing activity sequences, duration, resource requirements, and schedule to create the project schedule. Which of the following are not tools/ techniques you can use?

A. Crashing, fast-tracking

B. Estimating the basis of activity duration by multiplying the quantity of work to be performed by the productivity rate.

C. Reallocating resources from non-critical to critical activities D. Calculating theoretical early start/finish dates and late start/finish dates by performing a forward pass and backward pass analysis on project schedule network paths.

E. Applying project calendars and resource calendars to identify periods when work and resource is available/allowed.

Answer: B

 

Question 52

Assumptions analysis, checklist analysis, and risk diagramming techniques are tools/ techniques of which of the following processes?

A. Risk identification

B. Qualitative risk analysis

C. Risk management planning

D. Quantitative risk analysis

E. Risk monitoring and control

Answer: A

 

Question 53

Which of the following statements are FALSE regarding CPM method?

A. The backward pass is used to calculate the late finish dates and late start dates for the uncompleted portions of all network activities.

B. The latest start of the task can be determined by subtracting the duration of the task from the latest finish date of task.

C. The forward pass is used to calculate the early finish dates and early start dates for the uncompleted portions of all network activities.

D. The float /slack time is determine by subtracting the early start date from the early finish date.

Answer: D

 

Question 54

Which of the following statements are true regarding funding limit reconciliation?

A. None of the choices are correct

B. Funding limit reconciliation is a schedule network analysis technique that modifies the project schedule to account for resource limitations. 

C. Funding limit reconciliation is a technique for measuring the performance of work and is used to establish the performance measurement baseline.

D. Funding limit reconciliation is used to ensure that the expenditure of funds is reconciled with the funding limits imposed by the performing organization

E. Funding limit reconciliation describes that the expected costs needed to complete all the remaining work for the project.

Answer: D

 

Question 55

You have been recently assigned to provide an accurate project schedule for a large construction company. You are evaluating the network diagrams for the construction project, and are using backward pass calculations to construct the schedule.

You are trying to calculate the latest start time for laying the foundation of building. The expected duration for this task is 180 days. 

The task must be completed within 300 days, while the expected completion is between 220 days. The latest finish date is 270 days. 

Based on this information, what is the latest start time of this task?

A. 270

B. 90

C. 220

D. 300

E. 180

Answer: B

 

Question 56

Which of the following best describes resource leveling?

A. Adding additional resources to the project to compress the schedule

B. Rearranging resources so that a constant number of resources are used during each period

C. Performing activities concurrently

D. Influencing factors that create schedule changes

Answer: B

 

Question 57

You are the project manager assigned to install the electrical wiring for a 20,000 square foot office building that is currently under construction. You are trying to estimate the costs of this project. You know from past experience that is costs approximately $3 per square foot to properly wire and entire building. As your building will be 20,000 square feet you estimate that the project will cost approximately $60,000. What type of estimating technique did u used?

A. Bottom-up estimating

B. ADM

C. Parametric estimating

D. Cost-based

E. Monte-Carlo methods

Answer: C

 

Question 58

You have been recently hired to be a project manager at a bio-tech company to develop a new drug to treat pancreatic cancer. The drug has been under development and clinical testing for past 5 years. The FDA is currently reviewing the clinical data in order to determine weather the drug has any serious side effects. If the FDA does NOT 

approve the drug, the project will be in trouble. This is an example of which type of risks?

A. Organizational risk

B. Fore majeure risk

C. Project management risk

D. External risk

E. Internal risk

Answer: D

 

Question 59

Which of the following are NOT used to create the scope baseline for a project?

A. Detailed project scope statement

B. WBS

C. WBS dictionary

D. Project scope management plan

Answer: D

 

Question 60

Which of the following statements are true regarding the procurement management plan?

A. The procurement management plan defines the statement of work which contains the details of the procurement item/ service in specific terms

B. The procurement management plan explains how multiples vendors should be managed

C. None of the statements are true

D. The procurement management plan is an output of the plan Contracting process

Answer: B

 

Question 61

You are using three point estimating technique to estimate the duration of a schedule activity. Which of the following statements are true given the following data:

Pessimistic: 100 days

Optimistic: 40 days

Most likely: 65 days

Average: 68.33 days

Variance: 151.38

A. Not enough information is provided

B. The calculations were performed assuming a uniform distribution C. The calculations were performed assuming a beta distribution D. The calculations were performed assuming a potential distribution

E. The calculations were performed assuming a triangular distribution

Answer: E

 

Question 62

You have been recently been assigned to provide an accurate project schedule for a large construction project. You are evaluating the network diagram for the construction project. 

Your lead engineer has given you following estimates for critical path activity: 30 days (optimistic), 100 days (pessimistic), and 50 days (most likely). What is the standard deviation for this activity, assuming a beta distribution?

A. 55

B. 8.33

C. None of the choices are correct

D. 11.66

E. 3.33

Answer: D

 

Question 63

Which of the following statements regarding Resource Breakdown structure are true EXCEPT:

A. The RBS is a structure that relates the organizational breakdown structure to WBS to ensure that each work component is properly assigned to a responsible person/ team.

B. The RBS is a hierarchical structure of the identified resources by resource category and type

C. The RBS can contain other resource categories other than human resources. 

D. The RBS is useful in tracking project costs, and can be integrated with the organization’s accounting system

E. The RBS is an output of the Activity Resource Estimation process 

Answer: A

 

Question 64

You are the project manager for developing a next-generation search engine for internet. Instead of using simple word or link analysis methods, your search engine will use a sophisticated algorithm based on latent semantic indexing. You are in process of creating the detailed project scope statement.  All of the following should be included in the detailed project scope statement EXCEPT: A. Project specification, approval requirements

B. Project boundaries, project deliverables, project acceptance criteria

C. Activity lists, activity attributes, scope baseline D. Constraints/ assumptions, initial defined risks, schedule milestone

E. Und limitations, cost estimates, configuration management requirements

Answer: C

 

Question 65

Which of the following statements regarding WBS are FALSE?

A. The WBS is deliverable-oriented grouping of project components that define the total scope of project

B. Each item in the WBS is generally assigned a unique identifier that can provide a means to track costs and resources

C. The WBS is used to show which work components have been assigned to which organizational units.

D. The WBS is an output of the Create WBS process

Answer: C

 

Question 66

Which of the following can be used to display the assigned roles and responsibilities of project team members?

A. PDM

B. AON

C. GERT

D. ADM

E. RAM

Answer: E

 

Question 67

You are in process of creating the detailed project scope statement. All of the following are inputs to this process EXCEPT:

A. Project scope

B. Organizational project assets

C. Preliminary project scope statement

D. Approved change requests

E. Scope baseline

Answer: E

 

Question 68

Which of the following statements are FALSE regarding the Resource Calendar?

A. The Resource Calendar identifies the quantity of each resource available during each availability period.

B. None of the choices are correct

C. The Resource Calendar documents working days and non working days

D. The Resource Calendar provides a hierarchal structure of the identified resources by resource category and resource type E. The Resource Calendar describes the availability, capability, and skills of human resources.

Answer: D

 

Question 69

All of the statements are true regarding Analogous Estimation EXCEPT: A. Analogous Estimation is a tool and technique of Activity Definition process

B. Analogous Estimation is a form of expert judgment

C. Analogous Estimation uses the duration of a similar activity to determine duration of current activity

D. Analogous Estimation is also called top-down estimation 

Answer: A

 

Question 70

You are currently in process of prioritizing risks by their impact and probability of occurrence. The risk register updates from this process include all of the following EXCEPT:

A. Root cause of risks

B. Low priority risks

C. Risks group by categories

D. Risks requiring responses in the near term

E. Priority list of project risks

Answer: A

 

Question 71

The WBS is an input to all of the processes EXCEPT:

A. Scope verification

B. Cost estimating

C. Activity definition

D. Plan purchases and acquisitions

E. Cost budgeting

Answer: A

 

Question 72

You are the project manager for a software company that develops stock analysis software. You have been assigned to assigned to develop a new technical analysis tool to forecast to price of a stock given this historical volatility based on Elliot Wave technique. You need to gather the necessary information to write the project scope management plan. Which of the following information do you NOT 

need as inputs to your current process?

A. Preliminary project scope statement

B. Project management plan

C. Enterprise environmental factors

D. Project scope statement

E. Project charter

Answer: D

 

Question 73

All of the following statements are true regarding the critical path method EXCEPT:

A. The critical path method accounts for resource limitations B. On a network path, the schedule flexibility is measured by the difference between early and late dates

C. The critical path method performs a forward pass analysis and backward pass analysis through the project schedule network paths.

D. Critical paths have either negative or zero total float E. The critical path method calculates the theoretical early start and finish dates for all schedule activities

Answer: A

 

Question 74

You are the project manager for a large children’s toys manufacturer. 

You’ve been asked to manufacture the latest craze in “Dancing Widgets” for the upcoming Christmas season. You’ve been informed that the company needs at least one month lead time to distribute the Widgets in order to have the Widgets on retailers shelves for the Christmas season.

You’ve been asked to breakdown the costs associated with production.

Which of the following can be categorized as variable costs associated with the production?

A. Facilitates overhead

B. Direct materials and labor

C. Insurance

D. Taxes.

Answer: B

 

Question 75

You are using the three-point estimating technique to estimate the duration of a schedule activity. You are given the following data:

[Pessimistic=100days] | [optimistic=40days] | [most likely=65 days]

Which of the following statements are true?

A. The beta distribution gives a more pessimistic and more conservative value for the mean compared to the triangular distribution

B. Although the triangular distribution gives a more pessimistic value for the mean, it gives an estimate with smaller uncertainty compared to the beta distribution

C. The triangular distribution gives a more optimistic and more aggressive value for the duration mean compared to the beta distribution.

D. The beat distribution gives an estimate with smaller uncertainty compared to the triangular distribution

Answer: D

 

Question 76

You are in the process of developing an approximation of the costs of resources needed to complete each schedule activity. Which of the following is the LEAST helpful input?

A. WBS, WBS dictionary

B. Market place conditions, commercial databases

C. Cost estimation policies/ templates, historical information, project team knowledge

D. Activity cost estimates, activity cost estimate supporting details E. Schedule management plan, staffing management plan, risk register

Answer: D

 

Question 77

You are in process of analyzing the effects of identified risks. Which of the following is the LEAST helpful input?

A. Project scope statement

B. Risk register

C. Performance reports

D. Risk management plan

E. Project cost management plan

F. Project schedule management plan

Answer: C

 

Question 78

You are the project manager at an auto manufacturer. Due to the recent rise in the cost of petroleum, the market demand for hybrid cars with high fuel efficiency ahs increased. Your company has identified the multi-billion dollar market opportunity for highly fuel efficient vehicles.

However, your organization does not have enough resources and expertise to exploit this opportunity. Hence, your organization has decided to identify the qualified candidates. Which of the following best describes the type of strategy you are using to deal with this market opportunity?

A. Share

B. Acceptance

C. Exploit

D. Enhance

E. Avoidance

Answer: C

 

Question 79

Which of the following statements are FALSE regarding rolling wave planning?

A. Rolling wave planning is a form of progressive elaboration B. Rolling wave planning is appropriate for life cycle models that allow incremental development

C. Rolling wave planning is a phased iterative approach to project development

D. Rolling wave planning is a tool/ technique of the Activity duration process

E. In Rolling wave planning, detailed estimates are provided for far-term tasks

Answer: E

 

Question 80

Which of the following risks should be classified as a force majeure risks?

A. Resource conflicts with other projects

B. Shifting legal/ regulatory environment

C. Poor allocation of time and resource

D. Floods/ hurricanes

Answer: D

 

Question 81

Which of the following processes involves developing necessary procedures to mitigate threats to the project from the project risks?

A. Risk management planning

B. Risk identification

C. Risk monitoring and control

D. Risk response planning

Answer: D

 

Question 82

Which of the following can be used to determine what work is included in each work package for each of your team members?

A. Project schedule

B. RBS

C. Project scope statement

D. None of the choices are correct

E. WBS dictionary

Answer: E

 

Question 83

All of the following statements are true regarding Simulation and Monte Carlo analysis EXCEPT:

A. The output of simulation is a probability distribution (i.e total costs or completion dates)

B. Modeling and simulation are recommended for use in cost and risk analysis because they are more powerful and less subject to misuse than EMV analysis

C. None of the choices are correct

D. For cost risk analysis, a simulation can use the project WBS or cost breakdown structure as its model

E. Simulation is a technique that computes the project cost or schedule over multiple iterations using random values selected from distributions of possible costs or duration values.

Answer: C

 

Question 84

Earned value analysis is a performance reporting tool/ technique. 

Which of the following best describes earned value (EV)?

A. Efficiency indicator to reflect schedule performance of project B. Portion of approved cost estimate planned to be spent C. Total of costs incurred in performing work activity D. Efficiency indicator to reflect cost performance of project E. Value of the work completed

Answer: E

 

Question 85

You are the Chief Technology Officer of a major stock exchange. You are in charge of a project to reengineer the organization’s back office accounting, billing, and administrative systems. Your project team has completed all the technical work required for the project and just scope verification. All of the following are actions you should perform next EXCEPT:

A. Collect project records

B. Document lessons learned

C. Obtain formal acceptance of project deliverables

D. Analyze project success or failure

Answer: E

 

Question 86

Which of the following statements are true regarding project endings?

A. Integration occurs when a project evolves into ongoing operations

B.  None of the choices are correct

C. Completion occurs when the project end because it was completed successfully and accepted by stakeholders

D. Addition occurs when the resources (personnel, equipment, property, etc) of the project are reassigned to other areas within the organization or other projects

E. Extinction occurs when resources are removed from the project, such as due to funding/ resource cuts

Answer: B

 

Question 87

All of the following are inputs to the Close Project process EXCEPT: A. Project management plan

B. Enterprise environmental factors, organizational process assets C. Deliverables

D. Contract documentation

E. Work performance information

F. Administrative closure procedure

Answer: F

 

Question 88

A SPI < 1 indicates which of the following?

A. Project is ahead of schedule

B. Project is over budget

C. Project is under budget 

D. Project is behind schedule

Answer: D

 

Question 89

Contract documentation is an input to the Contract Closure Process. It includes all of the following EXCPT:

A. Payment record

B. Approved changes requests

C. Contract closure procedure

D. Supporting schedules

E. Warranties

F. Technical documentation

Answer: C

 

Question 90

All of the following statements are true EXCEPT:

A. Project closure documents and project files are outputs of the Close Project Process

B. The formal acceptance documentation formally indicates that the customer or sponsor has officially accepted the project deliverables

C. The project closure documents provide formal documentation indicating the completion of project and transferring of project deliverables to others

D. The project files consists of documentation resulting for project activities, such as the project management plan, scope, cost, risk registers, quality baselines

E. None of the choices are correct

Answer: E

 

Question 91

Procurements audits are a tool/ technique of which of the following processes?

A. Request Seller Responses

B. Select Sellers

C. Plan Purchases And Acquisition

D. Contract Closure

E. Contract Administration

Answer: D

 

Question 92

Performing the administrative closure process includes all of the following EXCEPT:

A. Gather lessons learned

B. Archive project information

C. Review and approve requested changes

D. Analyze project success or failure

E. Collect project records

Answer: C

 

Question 93

According to the PMI, which of the following best describes “phase exists”?

A. Reviews at the conclusion of a project phase to determine whether the project should continue

B. Assignment of additional resources to the project in an attempt to decrease the project timeline/ schedule

C. Process of exceeding the specified project requirements D. Schedule compression by starting a new task/ phase prior to completing the current project tasks.

Answer: A

 

Question 94

You are the project manager at a large accounting firm in the United States. Throughout the year your firm provides both consulting services and accounting/ auditing services to XYZ Widgets, Inc, a publicly traded company listed on the New York Stock Exchange. 

Currently, your project involves auditing the financial statements of XYZ Widgets Inc, in preparation for the annual shareholders/ investors meeting.

While your team is in the midst of project execution, you are informed that your project is due to new SEC regulations. Specifically, a new SEC regulation prohibits accounting firms from providing both consulting services and auditing services to a client, due to potential conflicts of interest that could arise from such business relationships.

Hence your project is cancelled and your project team consisting of accountants and auditors are taken off your project and reassigned to another project. Which of the following type of project ending is this considered?

A. Extinction

B. Starvation

C. Cancelled

D. Addition

E. Integration

Answer: E

 

Question 95

Which of the following statements are true?

A. Contract closure and administrative closure both involve quality assurance activities

B. Contract closure and administrative closure both involve product verification

C. Contract closure and administrative closure both involve benefit cost analysis

D. Contract closure and administrative closure both involve scope verification

Answer: B

 

Question 96

Which of the following are NOT considered formal types of project ending?

A. Addition

B. Cancellation

C. Integration

D. Starvation

E. Extinction

Answer: B

 

Question 97

You are in process of completing and settling each contract application to the project or project phase. Which of the following are NOT outputs of this process?

A. Deliverable acceptance

B. Contract file

C. Closed contracts

D. Lessons learned documentation

E. Contract closure procedures

Answer: E

 

Question 98

All of the following are objectives of a buyer-conducted performance review EXCEPT:

A. Identify performance successes or failures B. Identify payment schedules and requests

C. Identify progress with respect to contract statement of work D. Identify contract non-compliance

Answer: B

 

Question 99

Your project terminated early due to budget cuts. You’ like to document the current level and completion of your project, even though your project terminated prematurely. In which of the following processes would you document the level of work completed for your project?

A. Contract Closure

B. Performance Reporting

C. Scope Verification

D. Information Distribution

E. Manage Stakeholders

Answer: C

 

Question 100

You are the project manager at a large construction company. Your company is under a times and materials contract to build a new shopping center. The estimated cost of project is $5,000,000. The project sponsor has approved this amount. 

However, you earned value calculations indicate that the project will be completed on time and under budget by 5,000,000. Based on this calculation your personal profit will decreas