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D.. Trend analysis is used to analyze how problems occur.
1.. You work in the marketing department of your organization. Your project entails designing and preparing a vendor booth for an upcoming conference. Participating in conferences is something your organization does several times a year. You’ve just been informed that this conference has been canceled due to lack of interest. Which of the following is true? A.. Since the conference was canceled and the project cannot be completed, there is no need to perform the Closing processes. B.. Since conferences are held several times a year, preparing the vendor booth is considered an ongoing operation and doesn’t meet definition of a project in A Guide to the PMBOK. C.. Since conferences are held several times a year, preparations for each conference are unique, so this project does meet the definition of a project. D.. Since the conference was canceled, the goals and objectives of the project couldn’t be met. Therefore, only the Project Integration Management processes were completed.
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2..You are a project manager working on an important project for your organization. It has high visibility with all the corporate big-wigs and will likely get you a promotion if things go well. So far, the project is ahead of schedule, on budget, and the project plan seems to be occurring as predicted. You’re holding an important stakeholder meeting this afternoon that involves five of your top team members. One of your team members shows up to work this morning wearing an objectionable piece of jewelry. The article hanging on the chain is a replica of a part of the human anatomy. Other team members have complained to you that they find the necklace offensive. What action should you take? Choose the best answer. A..Say nothing. Your team members are free to wear what they like. B..Ask the team member to take off the necklace for the meeting. C..Tell the team member to take off the necklace and instruct them not to wear it to work again. D..Say nothing. You know this team member very well and are certain they won’t wear the necklace to the meeting. 4.. All of the following statements are true regarding risks except for which one? Choose the least correct answer. A.. Risks might be threats to the objectives of the project. B.. Risks are certain events that may be threats or opportunities to the objectives of the project. C.. Risks might be opportunities to the objectives of the project. D.. Risks have causes and consequences.
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3..You have a team member who is getting out of line at status meetings. You meet with this individual privately to raise your concerns. Your team member tells you what’s really on their mind and that they disagree with the way you’re executing the activities of a particular deliverable. You let the team member know you understand their concerns but that nonetheless, the work will continue as you’ve directed and they’ll have to accept it. What type of power does this describe? A.. Referent B.. Social C.. Legitimate D.. Punishment
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4.. All of the following statements are true regarding risks except for which one? Choose the least correct answer. A.. Risks might be threats to the objectives of the project. B.. Risks are certain events that may be threats or opportunities to the objectives of the project. C.. Risks might be opportunities to the objectives of the project. D.. Risks have causes and consequences.
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5.. You are working on a project in the automotive industry that requires specialized knowledge of robotics. You know that one full-time expert with skills in this area will be needed during the design phase and again in the deployment phase of this project. You’ve received some initial estimates of approximately $225 an hour for this resource. Which of the following best describes the processes involved in this question and why? A.. Activity Definition and Activity Estimating, because Activity Definition determines what activities will be performed on the project, while Activity Estimating determines the length of time the resource is needed and the cost. Activity Estimating can’t occur until Activity Definition is completed. These processes are closely linked. B.. Resource Planning and Cost Estimating, because Resource Planning determines the physical resources needed for the project (in this case, the robotics expert), while Cost Estimating estimates the costs of the resources needed to complete the activities. These processes are closely linked. C.. Activity Sequencing and Cost Estimating, because the question states that the expert is needed during two phases of the project (that’s Activity Sequencing) and provides the cost of the resource (that’s Cost Estimating). D.. Activity Sequencing and Resource Planning, because the activities have a specific sequence in which resources must be applied (first the design phase, then the deployment phase), and the resources have been identified and estimated.
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6.. Which of the following statements is not true regarding the scope management plan? A.. The scope management plan should describe how changes to cost, schedule, and quality will be managed. B.. The scope management plan is a subsidiary component of the project plan. C.. The scope management plan should describe how scope changes will be identified and classified. D.. The scope management plan should describe how likely scope change is to occur.
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7.. All of the following statements are true regarding trend analysis except: A.. Trend analysis is a tool and technique of the Quality Control process. B.. Trend analysis is a mathematical formula used to forecast future outcomes. C.. Trend analysis is a tool and technique of the Performance Reporting process.
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D.. Trend analysis is used to analyze how problems occur.
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8.. Which of the following statements regarding the project champion is not true? A.. The project champion is typically someone well-versed in the technical areas of the project or who has strong industry knowledge regarding the project. B.. The project champion is often called on to make technical decisions and typically has final authority over project issues concerning technical expertise or industry knowledge. C.. The project champion can lend credibility to the viability of the project due to their technical expertise. D.. The project champion is a strong project supporter who tends to focus attention on the project from a technical perspective.
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9.. You work in a matrix organization. Early on in the project, it was determined that the functional manager who heads up the accounting department will be in charge of the project budget. The project sponsor approaches you with a small bonus check for your excellent work at keeping costs in line with the budget. You think the amount of the bonus check is fair and deserved. All of the following statements are true except for which of the following? Choose the least correct answer. A.. The reward is appropriately linked to the performance. B.. Rewards and recognition systems should endorse and reinforce behaviors that are desired. C.. Rewards and recognition systems are a tool and technique of the Team Development process. D.. The reward is in line with the performance, and you should accept it.
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10.. You are a project manager in a construction company. Your project sponsor is an experienced project manager herself. She’s worried this project may fall behind schedule, since winter is approaching faster than normal for this time of year. She tells you to begin the building phase, even though the design phase isn’t yet completed. Which of the following statements is not true? A.. Time is a constraint. B.. You’re using a fast tracking technique. C.. Phase sequencing is being ignored. D.. The project schedule is being compressed.
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11.. You are the project manager for a construction project. Your company is expanding a highway on the east side of town, including revamping the bridges and constructing new on-ramps and off-ramps. Because of the timelines for this project and the heavy traffic at rush hour, you have several teams of resources who will be working around the clock (according to their assigned schedule). The calendar used to construct the project schedule must take the 24-hour workday into account. Which of the following statements is true regarding this question? Choose the best answer. A.. The project calendar, an input to the Schedule Development process, should reflect the 24-hour work period. B.. The resource calendar, a tool and technique of the Schedule Development process, should reflect the 24-hour work period. C.. The resource calendar, an input to the Schedule Development process, should reflect the 24-hour work period. D.. The project calendar, a tool and technique of the Schedule Development process, should reflect the 24-hour work period.
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12.. One of the key project stakeholders on your project is asking for the documentation that records, analyzes, and details the project accomplishments before they’ll sign off on final acceptance. Which of the following inputs does this describe? A.. Procurement audit results, an input to the Contract Closeout process B.. Other project records, an input to the Administrative Closure process C.. Project reports, an input to the Contract Closeout process D.. Performance measurement documentation, an input to the Administrative Closure process
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13.. Your co-worker, Mishi, is a project manager who has come by this title through experience. He hasn’t had any formal training in project management and isn’t familiar with PMI techniques. You discover after talking with him that he’s afraid to approach a team member with a corrective action, because Mishi doesn’t understand general accounting principles. The team member needs to take this action soon, but Mishi is reluctant to discuss it with them for fear of appearing unintelligent in front of this team member and others. You know all of the following statements are true except which one? Choose the least correct answer. A.. This demonstrates a lack of general management skills on Mishi’s part. B.. This demonstrates a lack of leadership skills on Mishi’s part. C.. This demonstrates a lack of communication skills on Mishi’s part. D.. This demonstrates a lack of product skills and knowledge on Mishi’s part.
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14.. According to the Organizational Planning process, the role and responsibility of this project member is generally critical for most projects but may differ depending on the application area or industry you’re working in. A.. Executive sponsor B.. Key stakeholders C.. Project manager D.. Technical resources with specific expertise
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15.. When working in the Source Selection process, you might consider asking the vendor to supply you with an ink sample for a project you’re working on. The ink must have special qualities (they were outlined in the RFQ) and before making a selection, you want to test the ink in the printers that will be used at project deployment. All of the following statements are true except for which one? Choose the least correct answer. A.. This is an example of evaluation criteria, which is an output of Solicitation Planning. B.. This is an example of evaluation criteria, which is an input of the Source Selection process. C.. This is an example of evaluation criteria, which is always objective and is used to rate or score proposals. D.. Evaluation criteria might also include financial capacity and technical capability.
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16.. You are the newly appointed project manager over a high-profile, critical project for your organization. The project team is structured outside your normal organizational structure, and you have full authority for this project. What type of organization does this describe? A.. Composite B.. Strong matrix C.. Functional D.. Balanced matrix
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17.. Your project includes a new manufacturing technique that requires knowledge of chemical engineering. The project team must have access to at least two full-time resources with these skills. You know all of the following statements are true except for which one? A.. Skills and knowledge about the product of the project are a tool and technique of the Project Plan Development process. B.. Skills are primarily identified in the Resource Planning process. C.. Resources are provided through the Staff Acquisition process. D.. Resource requirements should include what types of resources are needed and the quantity of resources needed for each work package level.
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18.. You’ve decided to put your project management skills to work at home. Your house needs painting and you decide to plan it out as a project, identifying all the activities and sequencing them correctly. After an inspection of the house, you decide the rain gutters should be replaced too. The painters have told you they cannot start painting until the crew replacing the gutters has installed the new gutters and cleaned up their work space. Once the gutter crew gives the painters a thumbs-up, they’ll start painting. What is this an example of? A.. A start-to-finish (SF) relationship, which is the only relationship ADM uses B.. A finish-to-start (FS) relationship, which is the only relationship PDM uses C.. A finish-to-start (FS) relationship, which is the only relationship ADM uses D.. A start-to-finish (SF) relationship, which is the only relationship PDM uses
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19.. You work for a nonprofit organization and are currently heading up a project to bring clean drinking water to several villages on a remote island in South America. This island has recently been at civil war, and there is concern that civil unrest may erupt during the implementation phase of this project. All of the following statements are true regarding this question except for which one? Choose the least correct answer. A.. This risk poses a threat to the project objectives. B.. This is a force majeure risk. C.. This is an external risk. D.. This is a performance risk.
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20.. Which of the following statements is true regarding qualified sellers lists? A.. Qualified sellers lists are a tool and technique of the process concerned with obtaining responses to RFPs from vendors. B.. Qualified sellers lists are a tool and technique of the process concerned with the receipt of bids and proposals. C.. Qualified sellers lists are an input of the process concerned with obtaining responses to RFPs from vendors. D.. Qualified sellers lists are an input of the process concerned with the receipt of bids and proposals.
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21.. Given the following information, is the project schedule ahead or behind what was planned for this period? EV = 95, PV = 85, AC = 100. A.. Ahead, because the result of the variance formula is negative. B.. Behind, because the result of the variance formula is negative. C.. Ahead, because the result of the variance formula is positive. D.. Behind, because the result of the variance formula is positive.
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22.. You work for a nonprofit organization in your local community. Your project will establish a new community outreach program for preteens. This project is being funded by a grant awarded to your organization based on its innovative ideas and approach. The project has consumed more financial resources than originally anticipated, so you’ve written and submitted a request for additional grant money to continue with the project. Today you received word that the grant has been denied. All of the following statements are true except: A.. This project came about as a result of a social need. B.. Cost overruns should have been identified when performance measures were taken. C.. This project ended due to extinction. D.. Corrective action should have been put into place to keep the project on track with the plan and the budget.
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23.. The project plan is used in several ways during the course of the project. All of the following involve uses for the project plan except: A.. To guide the Project Plan Execution process B.. As historical information for future projects of similar nature C.. To help determine the project budget D.. To support communications among stakeholders and the project team
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24.. Which of the following statements is not true regarding problem solving? A.. Problem definition should focus on separating causes and symptoms. B.. Decision making involves asking questions to determine if the issues are internal or external. C.. Problem solving is a two-step process involving problem definition and decision making. D.. Decision making has a timing element.
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25.. You are in the process of attaining and hiring resources for the project. Some of the resources can be found from within the organization, but three of the resources you’ve identified must be hired on contract. You need to consider previous experience, personal interests, personal characteristics, availability, and competencies and proficiency of the contractors as well as the internal staff. Which of the following statements is the best answer? A.. The situation in this question refers to the staffing pool description, which is an input to the Resource Planning process. B.. The situation in this question refers to staffing requirements, which are an output of Resource Planning. C.. The situation in this question refers to the staffing requirements, which are an output of Staff Acquisition. D.. The situation in this question refers to the staffing pool description, which is an input to the Staff Acquisition process.
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26.. According to A Guide to the PMBOK, scope changes, cost, resources, assignments, schedule changes, and so on are just a few of the items that may require this general management skill during the life cycle of your next project. A.. Negotiation B.. Influencing C.. Problem solving D.. Communicating
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27.. According to A Guide to the PMBOK, all of the following are terms for a contract except: A.. Purchase order B.. Memorandum of understanding C.. Agreement D.. Procurement order
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28.. You are a project manager working on contract for an upscale retail toy store. Your project involves implementing a Party Event Planner department in stores in 12 locations across the country as a pilot to determine if this will be a profitable new service all the stores should offer. You’ve identified two alternative methods of implementing the pilot. Alternative A’s initial investment equals $598,000. The PV of the expected cash inflows is $300,000 in year 1 and $300,000 in year 2. The cost of capital is 12 percent. Alternative B’s initial investment equals $625,000. The PV of the Alternative B’s expected cash inflows is $323,000 in year 1 and $300,000 in year 2. The cost of capital is 9 percent. Which of the following is true? A.. Alternative A will earn a return of at least 12 percent. B.. Alternative B will earn a return of at least 9 percent. C.. The return is not known for either Alternative A or Alternative B. D.. Both alternatives are viable choices.
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29.. You work for Writer’s Block, a service that reviews and critiques manuscripts for aspiring writers. You were assigned to be the project manager for a brand new computer system that logs, tracks, and electronically scans and files all submitted manuscripts along with the editor’s notes. You hired and worked with a vendor who wrote the system from scratch to your specifications. You are in the Closing processes, and you’re reviewing a report regarding certain aspects of the project’s performance. The report states the following, “The reviewers recommend that future projects of this nature use a separate RFP process to acquire hardware.” Which of the following options contains this information, given the circumstances in this question? Choose the best answer. A.. Lessons learned B.. Performance measurements documentation C.. Procurement audit D.. None of the answers given are correct.
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30.. You are working on determining activity start and finish dates, and you prefer using the method that allows for multiple time estimates as opposed to using the most likely estimate. Which of the following statements is true? A.. You are using the PERT method to calculate start and finish dates. The PERT method differs from CPM in that PERT uses expected value to determine activity start and finish dates, whereas CPM uses most likely estimates to determine start and finish dates. B.. You are using the CPM method to calculate start and finish dates, because this method allows for multiple time estimates. C.. You are using the PERT method to calculate start and finish dates, which uses the most likely estimate to determine start and finish dates. D.. You are using the GERT method to calculate start and finish dates, because this method allows for multiple time estimates.
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31.. You are managing a project for a grocery retail distributor, and the project is well underway. You are using an integrating methodology that both helps integrate the project processes and measures project performance. What integrating methodology are you using? A.. EVM B.. CPM C.. EV D.. EON
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32.. If EV = 145, PV = 162, AC = 138, BAC = 200, and ETC = 62, what is VAC? Assume past estimating assumptions are no longer valid. A.. 0 B.. 7 C.. 9.5 D.. 62
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33.. You are a project manager for Time Will Tell, an international watch manufacturer. Your project entails developing a watch with global positioning satellite (GPS) capabilities. Kit is a junior staff member with two years of experience in GPS technology. Carrie is a senior staff member with five years of experience working GPS technology. You are developing the activity duration estimates for the project activities. You are trying to determine an estimate for a particular activity that involves GPS skills and knowledge. Carrie has worked on activities similar to this in the past. She tells you the activity will likely take 45 days. All of the following statements are true regarding the information in this question except: A.. Carrie used an analogous estimating technique to come up with the 45-day estimate for this activity. B.. The activities are similar in fact, not just appearance, and Carrie has the needed expertise to provide this estimate so you can rely on the estimate being reasonably accurate. C.. Carrie used a technique that is a form of expert judgment to estimate this activity. D.. The technique Carrie used can also be used to estimate project duration, because there is a lot of information available about the details of the project.
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34.. You are a project manager working on a project that involves developing a prototype packaging system that will allow perishable food items to sit on the shelf. The project is still in the beginning phases, and you know that some project risks may not have been identified yet. Changes will occur as the project progresses, and new risks may come to light or previously identified risks may take on new consequences as the project proceeds. Which of the following statements is true regarding this question? Choose the best answer. A.. This question describes the project status input to the Qualitative Risk Analysis process and supports the idea that Qualitative Risk Analysis should be performed throughout the life of the project. B.. The statements made in this question support the idea that Quantitative Risk Analysis should be performed throughout the life of the project. C.. This question describes the importance of Risk Management Planning, because new risks will come to light as the project progresses and the risk management plan addresses how these risks should be managed once discovered. D.. This question describes the project type input to the Quantitative Risk Analysis process and supports the idea that the type of project affects the occurrence of the risk events, depending on the life cycle phase of the project.
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35.. This is the first project you’ve managed using your company’s new project management software. You are impressed with its performance and capabilities. You are also using EVM techniques. What knowledge area are you performing? A.. Project Scope Management B.. Project Time Management C.. Project Integration Management D.. Project Communications Management
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36.. Your project is being performed under contract. A scope change has occurred. Which of the following tools and techniques are required to comply with contract terms and provisions? A.. Project management information system B.. Change control system C.. Scope change control D.. Acceptance decisions
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37.. You are a project manager for Wedding Planners, Inc. Since every wedding is unique, your organization believes in managing each one as a project. You’ve come up with a great idea for a new event that you’re certain customers will love that will also profit the company. Your boss asks you to investigate alternative methods for implementing the new idea and come back with a recommendation. You discover that Alternative A could yield revenues of $98,000 over the next two years, while Alternative B could yield revenues of $105,000 over three years. The finance manager told you to use eight percent as the cost of capital. Which project should you choose and why? A.. Alternative A, because the discounted cash flows are $84,019, while the discounted cash flows for Alternative B are $83,352. B.. Alternative B, because its yield is higher than Alternative A’s yield. C.. Alternative B, because the discounted cash flows are $84,019, while the discounted cash flows for Alternative A are $83,352. D.. Alternative A, because the discounted cash flows are $96,457, while the discounted cash flows for Alternative B are $84,677.
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38.. Which of the following project management knowledge area involves every team member and stakeholder on the project? A.. Project Scope Management B.. Project Communications Management C.. Project Human Resources Management D.. Project Quality Management
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39.. You are working on a research and development project in the agriculture industry. Your risk management team has identified several risks and has determined that the most significant risk to the project is a financial risk. The most effective response for this type of risk is: A.. Avoidance B.. Acceptance C.. Mitigation D.. Transference
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40.. Initial project costs can be broken down into three areas. Which of the following is not true regarding the initial project budget and the identification of these project costs? A.. Either the project manager or a functional manager may have the responsibility of identifying project costs. B.. The three areas of project costs are human resources costs, resource or project costs, and administrative costs. Depending on the project, either human resource costs or project costs may be the largest project costs. C.. Functional managers external to the project typically manage project budgets when the resource or project costs are the largest expense of the project. D.. Consider historical information, previous projects of similar scope, stakeholders, and key team members when determining initial project costs.
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41.. You are a project manager for a new Information Technology project. Your organization requires you to organize the project according to project phases common to programming projects (initiation, requirements gathering, design, code, test, and implement). Once requirements are gathered, the major deliverables of the project will be finalized. You’re in the Scope Definition process, and you know that which of the following statements is true? A.. The project itself is always the first level of decomposition, followed by the major deliverables and the constituent components. B.. The project phases should be the first level of decomposition, and the major deliverables should be the second level of decomposition. C.. The major deliverables should be the first level of decomposition, followed by the constituent components of the deliverables. D.. The project phases are not part of the decomposition process but rather an organization method for the work of the project.
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42.. You are a project manager for Rhone Valley importers. Your buyer has found a new product that she’s convinced will sell well in this country. Taking on this new product introduces considerable opportunity for the company, but at the same time is also a considerable threat. The cost of this product exceeds anything your company has imported before, and if it doesn’t sell as well as the buyer thinks it will, the company could go into bankruptcy. You think through the next steps and determine that all of the following statements are true except for which one? A.. Conduct a feasibility study to determine the potential market, costs, risks, and other factors. B.. One purpose of the feasibility study is to determine. marketing demand for the new product that could in turn become the demand that drives the project. C.. During the feasibility study, you could use the Project Risk Management processes to identify all opportunities and exploit their possibilities, and determine the potential threats and minimize their probability and consequences. D.. One of the end results of the feasibility study might be to produce a project overview that will include a description of the intended outcome of the project, a list of the project deliverables, and a detailed project schedule for management review.
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43.. Which of the following best describes a project constraint? A.. Customer request B.. Product description C.. Management directive D.. Cost baseline
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44.. You are working on a research and development project in the agriculture industry. Your risk management team has identified several risks and has determined that the most significant risk to the project is a quality risk. You’ve identified a strategy to deal with this risk, but the risk management team agrees it may not be effective. What is the best action you should take given this situation? A.. Accept the risk. B.. Develop a fallback plan. C.. Develop a contingency plan. D.. Establish a contingency allowance.
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45.. Which of the following best describes a project assumption? A.. The equipment needed for the second deliverable of the project will be delivered one week prior to the start of the work for this deliverable. B.. The project’s allotted budget is $425,000, but you know this is only a rough estimate and will be changed as the project plan is further developed. C.. Organizational structure D.. Project schedule
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46.. You are a project manager for Wedding Planners, Inc. Since every wedding is unique, your organization believes in managing each one as a project. You’ve come up with a great idea for a new event that you’re certain customers will love that will also profit the company. Your boss asks you to investigate alternative methods for implementing the new idea and come back with a recommendation. You discover that Alternative A could yield revenues of $98,000 over the next two years and has an IRR of eight percent. Alternative B could yield revenues of $105,000 over three years and has an IRR of six percent. Which project should you choose and why? A.. Alternative A, because it has higher revenues in a shorter amount of time. B.. Alternative A, because it has a higher IRR than Alternative B. C.. Alternative B, because it has higher revenues overall. D.. There isn’t enough information in the question to determine an answer.
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47.. Your project sponsor has requested a cost estimate for the project you’re working on. This project is similar in scope to a project you worked on last year. She would like to get the cost estimates as soon as possible. Accuracy is not her primary concern right now. She needs a ballpark figure by tomorrow. You decide to use A.. Analogous estimating techniques B.. Bottom-up estimating techniques C.. Parametric modeling techniques D.. Computerized modeling techniques
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48.. You are the project manager for BB Tops, a nationwide toy store chain. You are working on estimates for your latest project and have gathered several variables for your model. You’ve determined which of the following? A.. Parametric modeling is a top-down technique that uses variables to produce time estimates. B.. Parametric modeling is a mathematical formula that uses variables to produce cost estimates. C.. Contingency estimating is a top-down technique that uses variables to produce cost estimates. D.. Contingency estimating is a mathematical model that uses variables to produce time estimates.
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49.. Your team members have turned in their activity estimates. Hugh’s activity will take 30 days; Leah’s activity will take 15 days; and Destiny’s activity will take 60 days. Leah also gives you an updated description of her activity because the current description is not correct. Each of them is experienced with the activity they’ve been assigned and used their previous experience with a similar activity as their basis for this estimate. Which of the following actions will you perform based on the information in this question? Choose the best answer. A.. Update the WBS. B.. Create the Activity Duration Estimate output for each activity and record the estimates as they were given to you. C.. Document the assumptions made about the estimating process as part of the supporting detail output to this process. D.. Update the activity list as required.
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50.. You are the project manager for a new website for the local zoo. You need to perform Quantitative Risk Analysis. You’ll use all of the following tools and techniques to accomplish this except: A.. Data precision ranking B.. Sensitivity analysis C.. Decision tree analysis D.. Interviewing
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51.. You work for a nonprofit organization and are currently heading up a project to bring clean drinking water to several villages on a remote island in South America. Your stakeholders have changed the scope of this project three times already, and the steering committee has reprioritized this project twice during the last six months. Which of the following risk categories does this represent? A.. Quality risk B.. Organizational risk C.. Project management risk D.. External risk
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52.. If EV = 145, PV = 162, AC = 138, BAC = 200, and ETC = 62, what is ETC? Assume that current variances are not typical. A.. 7 B.. 55 C.. 62 D.. 9.6
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53.. Why is assessing risk probability in the Qualitative Risk Analysis process difficult? Choose the best answer. A.. Because it relies on historical data. B.. Because the values are cardinal. C.. Because the values are ordinal. D.. Because it relies on expert judgment.
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54.. You are examining the network paths for your project. Path A’s duration is: 1-2-3-5-8; Path B’s duration is 1-3-5-6-7; Path C’s duration is 1-2-5-4-9; and Path D’s duration is 2-3-4-4-8. Which of the following is the critical path for this project? A.. Path D B.. Path C C.. Path B D.. Path A
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55.. Which of the following statements is not true regarding the technique of benefit/cost analysis in the Scope Planning process? A.. Benefit/cost analysis may incorporate several financial measures—including return on investment and payback period—to determine the attractiveness of various alternatives. B.. Benefit/cost analysis estimates the tangible and intangible costs and benefits of product alternatives. C.. Benefit/cost analysis estimates the tangible and intangible costs and benefits of project alternatives. D.. Benefit/cost analysis may incorporate several financial measures—including return on investment and payback period—to determine the baseline for cost measurement control.
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56.. You are a project manager who works for a nationwide bank with branches in every major city in the country. You are working on creating a project plan. Your project entails introducing a new home equity loan product to the bank customers. You realize that since you work for a bank, the financial policies in your organization are fairly strict. Throughout the course of your project you’ll need to make certain you adhere to these policies. All of the following statements are true regarding this project except for which of the following? A.. Organizational policies are an input to the Project Plan Development process. B.. You should consider the personnel policies and quality policies of your organization as well as the financial policies. C.. You should consider other planning outputs when working on the project plan. They include all of the outputs from all of the core processes in the Planning process group. D.. Constraints and assumptions are not to be overlooked. Like many processes in the Planning process group, these are inputs to the Project Plan Development process.
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57.. Your team is in the performing stage of team development. The following exchange took place at your last team meeting: “I’m glad you’re all having fun, but it’s time to get down to business,” you say. “I’d like to introduce Sunny Knight. He’ll be taking over for Cheri, who you all know is out on maternity leave.” Which of the following statements is true? A.. A new team member has been introduced, which means the team development stages will start all over the forming stage. B.. A new team member has been introduced, which means the team development stages start over with the conforming stage. C.. A new team member has been introduced, which means the team development stages start over with compromise stage. D.. The team was in the performing stage and will stay in this stage, even though a new team member has been introduced.
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58.. Your manager storms into your office demanding to know what paragraph three of the recent status report means, even though she clearly knows what it means by the tone in her voice. She wants you to know that, after all, she is the Director of Marketing and has the authority to “do what it takes” to keep you in line. She doesn’t appreciate your mention of the items in paragraph three and tells you if you do it again, she’ll take further action to make sure you’re demoted. Which type of power does your manager practice? Choose the best answer. A.. Referent B.. Punishment C.. Social D.. Confrontation
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59.. Given the following information, are the costs of the project higher than budgeted or lower than budgeted? EV = 85, PV = 95, AC = 100. A.. Lower than budgeted, because the result of the variance formula is negative. B.. Higher than budgeted, because the result of the variance formula is negative. C.. Higher than budgeted, because the result of the variance formula is positive. D.. Lower than budgeted, because the result of the variance formula is positive.
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60.. This tool and technique of the Schedule Control process is the key factor in controlling the time constraint. A.. Performance measurement B.. Variance analysis C.. Additional planning D.. Trend analysis
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61.. The last phase of your project is the testing phase. Two teams of testers are responsible for checking the product your project has produced to be certain it works correctly prior to delivery to the customer. What is this an example of? A.. Trending B.. Inspection C.. Tolerance D.. Prevention
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62.. You work in the pharmaceutical industry, and your organization has decided to build a new laboratory facility in the Northwest. Marketing demand is driving new research for diet medications, and the new lab will be dedicated to this product development project. The building project is a separate project from the diet drug research, but the diet drug research cannot be conducted until the building is complete. The building project was contracted out to a vendor and is scheduled for completion within the next three weeks. You begin the Administrative Closure process and know that this process entails all of the following tasks except: A.. Ensuring that the project records accurately reflect the building specifications B.. Analyzing the project management process for effectiveness C.. Updating the roles and responsibility documentation D.. Verifying and accepting the product documentation
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63.. You are a project manager and are in the Closing processes of the project. Your customer has been presented with a formal acceptance and sign-off document. They refuse to sign, claiming the product does not meet their expectations. You know that this situation could have been prevented by doing all of the following except: A.. Documenting the requirements B.. Documenting the customer’s refusal to sign C.. Performing quality inspections during the process D.. Requesting sign-off at important milestones
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64.. Which of the following statements best describes the purpose of the Scope Planning process? A.. To progressively elaborate, document, and assign project roles and responsibilities to the project work that produces the product of the project. B.. To progressively elaborate and document the project scope that produces the product of the project. C.. To progressively elaborate the work of the project so that baselines for performance measurement and controls can be established. D.. To progressively elaborate and document the deliverables of the project, determine adequate cost and duration estimates, and identify constituent components of the product of the project.
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