Project Management Test 2
Mike is manager of the WAM project, which has a budget at completion of $295,000. His project is currently 40 percent complete but should be 50 percent complete by now. Mike has spent $125,000 on the project. What is the estimated cost of completing this project?
$187,500
Andrew is manager of the HYG project for the HYG organization. This company relies on earned value management, and management has asked Andrew to create a report detailing how much more the project is likely to need to reach its conclusion. Andrew reviews the project, which has an assigned budget of $775,000, of which he has already spent $225,000. He has currently 25 percent through the project, though his schedule calls for him to be 35 percent complete. Given this information, what will Andrew provide as an estimate to complete his project?
$675,000 Calculation for ETC: CPI = Earned value (EV)/Actual costs = 193,750/225000 = 0.8611111111111111 EAC = Budget at completion (BAC)/Cost performance index(CPI) = 775,000/0.8611111111111111 = 900000 ETC = EAC-AC = 900000-225,000 = 675000
Which of the following knowledge areas involves organizational planning, staff acquisition, and team development? Project human resource management Project scope management Project communications management Project risk management
Project human resource management
Responsibility assignment matrix
What's the name of the resource requirement tool shown in the table below?
What is the cost variance if the earned value of work completed to date is $300,000 and the actual cost of the project is $320,000?
-$20,000 CV=EV−AC On substituting the values EV (earned value) = $300,000 and AC (actual cost) = $320,000, we get: CV=$300,000−$320,000
Given the following values: PV = 85, AC = 83, and EV = 81, What's the CV?
-2 The formula for CV (cost variance) is EV minus AC (in this case, 81 - 83 = -2).
You work as a project manager for uCertify Inc. You have created a communication plan in which you have mentioned that project status report updates will be distributed via email to all stakeholders. Which component have you missed in the communication plan?
Frequency with time frames for distribution
You're working on a project for which status meetings generally have 12 participants. How many lines of communication are there?
66 The formula for this equation is 12(12 - 1) / 2 = 66.
Activity B on your network diagram has a most likely estimate of 8 days, a pessimistic estimate of 11 days, and an optimistic estimate of 6 days. What's the three-point estimate for this task, rounded to the nearest whole number?
8 days The three-point estimate is calculated by averaging all three estimates: 8 + 11 + 6 = 25 25/3 = 8.3
In the given figure, what will be the critical path of the network diagram if value of path durations are A-D-E-G=10, A-C-E-G=15, A-C-E-F-G=14, and A-B-F-G=12?
A-C-E-G
Your project seems to have "faded away" over time and become a full-fledged ongoing operation. What type of project ending does this describe?
Addition
Which of the following is the stage of team development in which team members are released?
Adjourning
Centralizing documents, archiving project documents, performing post-project reviews, writing a final closeout report, and distributing a notice of project acceptance occur during which process?
Administrative closure
You work as a project manager for uCertify Inc. You're starting a new project with a budget of $1.2 million. Based on past experience, you have determined that you will not require additional hardware for the project. This is an example of which of the following?
Assumption
In which of the following conflict resolution methods does a person drop out of a conflict situation and not try to bring the issue to the other person's attention or deal with the problem?
Avoidance
You've just posted an RFP and have invited vendors to participate in a meeting to ask about the project work. What's this meeting called?
Bidder conference
Scope baseline documents consist of all of the following except for which one? Scope statement WBS WBS dictionary Business case
Business case
Which of the following informs the other party to stop doing the activity they're doing and not do it again?
Cease-and-desist letter
Which of the following provides check-in and check-out processes so that team members are always reviewing and updating the latest version of the document?
Collaboration tool
Which of the following activities represent the purpose of a project kickoff meeting? Each correct answer represents a complete solution. Choose all that apply. Communicating project goals and objectives Communicating work package assignments Communicating stakeholder expectations Obtaining a signature on a project charter
Communicating project goals and objectives Communicating stakeholder expectations
Which of the following is the most important skill a project manager should have to build a diverse project team that can work together efficiently and effectively?
Communication
This process defines what people or groups need project information, when and how often it should be distributed, and its format.
Communications planning
You're a project manager for uCertify, Inc. Two of your team members are in conflict over a project module assigned to them. You've told them to work together to find a mutually beneficial solution. Which of the following conflict resolution techniques will your team members follow to do so?
Compromise
You work as a project manager for uCertify Inc. A key stakeholder notifies you about his dissatisfaction regarding the progress of the project through email. What is the best method for you to address the stakeholder's dissatisfaction?
Conduct a face-to-face meeting with the stakeholder.
You work as a project manager for uCertify Inc. You have asked two employees to work together in a project. However, you have find that on past projects it was very difficult for the managers to handle both the employees together and they are often at odds with one another. Which of the following conflict resolution techniques will you use to deal with them?
Confronting
Which of the following is the portion of a project charter that restricts the actions of a project team?
Constraint
Which formula is used to calculate Cost Variance (CV)?
Cost Variance (CV) = Earned Value (EV) - Actual Cost (AC)
Which of the following indicates whether costs are higher or lower than budgeted?
Cost variance (CV)
Risk identification is the process of which of the following?
Determining and documenting potential risk events on the project
You work as a project manager for uCertify Inc. A key stakeholder asked you to make a small change in a project, but you refused to do that. What is the reason?
Due to scope creep
Which of the following represents the value of the work completed to date as compared to the budget?
EV
This technique is used for monitoring and controlling project costs, compares what was received or produced to what was spent.
EVM
A project closure report includes activities required to formally end the project. Which of the following is not included in a project closure report?
Earned value analysis
You've developed a project plan and a scope document. The project plan has been approved, and you're moving forward with project implementation. What process have you begun?
Executing
Which of the following risk response strategies is characterized by having knowledge of a risk event and looking for opportunities to take advantage of positive impacts?
Exploit
This project ending occurs when its deliverables are complete and accurate, and its stakeholders are satisfied. It is considered the best type of project ending.
Extinction
You work as a project manager for uCertify Inc. You have a number of additional requirements approved by the change control board, but no extra time was provided for the completing project. Which of the following should you use to complete the project on time? Each correct answer represents a complete solution. Choose all that apply. Fast tracking Rebaselining Parametric estimating Crashing
Fast tracking and Crashing
What two types of corrective actions might you consider when trying to shorten the project schedule? Request additional budget Implement contingency plan Fast-tracking Crashing
Fast-tracking Crashing
You have a project involved with two activities predecessor (A1) and successor (A2). You cannot begin work on activity A2 until activity A1 is completed. This is an example of which of the following logical relationships?
Finish-to-start
Which of the following terms describes the amount of time an activity may have between its earliest start date and latest start date?
Float
Mark is a project manager in his organization. He finds that two of his team members are in conflict, and important principles are at stake. What type of conflict resolution method should Mark use in this instance?
Force
You work as a project manager for uCertify Inc. You have asked your team members not to use personal instant messaging during working hours. This is an example of which type of conflict resolution technique?
Forcing
Which of the following functions are provided by a PMO (project management office)? Each correct answer represents a complete solution. Choose all that apply. Governance process for managing projects and setting priorities Standards of performance including consequences of non-performance Cost estimates for deliverables or other project work purchased from outside an organization Run interference and remove roadblocks
Governance process for managing projects and setting priorities Standards of performance including consequences of non-performance
After completing a project charter and obtaining sign-off, what will be your next step?
Hold a project kickoff meeting.
You work as a project manager for uCertify Inc. During the project execution, a key stakeholder has demanded a change in the project. Which of the following steps will you take? Each correct answer represents a complete solution. Choose all that apply. Create a new work breakdown structure for the project. Notify the project sponsor about the change. Identify and document the change request. Evaluate the impact and justification of the change. Cancel the project due to scope creep.
Identify and document the change request. Evaluate the impact and justification of the change.
Which of the following is not appropriate for complex information or for communicating with multiple people at the same time?
Instant messaging
Which of the following project endings types occurs when the resources of the project are distributed to other areas in an organization or are assigned to other projects?
Integration
You work as a project manager for BlueWell Inc. You have to communicate the causes of risk events to stakeholders. Which risk diagramming technique will you use to accomplish the task?
Ishikawa diagrams
Which of the following will you include in a business case of your project? Each correct answer represents a complete solution. Choose all that apply. Justification for the project Cost-benefit analysis Estimated budget Project milestone
Justification for the project Cost-benefit analysis
You work as a project manager for uCertify Inc. Your project sponsor has signed a document for authorizing an upcoming project. Which of the following will be included in the document? Each correct answer represents a complete solution. Choose all that apply. Justification for the project High-level details regarding estimated budgets and timelines Roles and responsibilities of the team members Quantitative analysis for all major project risks
Justification for the project High-level details regarding estimated budgets and timelines
Which of the following activities occur in project kickoff meeting? Each correct answer represents a complete solution. Choose all that apply. Overview of the project Understanding the stakeholder expectations Description of roles and responsibilities Selecting the project manager and project sponsor Obtaining a signature on the project charter
Overview of the project Understanding the stakeholder expectations Description of roles and responsibilities
Which of the following project management tools is based on the 80/20 rule?
Pareto chart
Which of the following is the least precise cash-flow technique? Internal rate of return Discounted cash flow Payback period estimate Net present value
Payback period estimate
In which of the following project phases is the first budget approved for the project?
Planning
You are developing a scope document and project plan for a new project. Which process group are you in?
Planning
This type of change request is implemented to help reduce the probability of a negative risk event.
Preventive action
Which of the following includes business purpose, milestones, assumptions, and constraints?
Project charter
Which document is produced at the end of a project and reports final project outcomes?
Project close report
Which of the following are required to validate a business case? Each correct answer represents a complete solution. Choose all that apply. Stakeholder analysis Project justification Strategic plan alignment Stakeholder's identification
Project justification Strategic plan alignment
Who is responsible for assembling project's team members?
Project manager
During the initiating phase, a project charter authorizes a project to begin. Which of the following elements are included in a project charter? Each correct answer represents a complete solution. Choose all that apply. Project objectives Problem statement Stakeholder identification Risk assessment
Project objectives Problem statement Stakeholder identification
While creating a new project, which of the following contains final project acceptance criteria?
Project scope document
This type of chart depicts a WBS identifier, a type of resource required, and quantity of resources needed for the task.
RAM A responsibility assignment matrix (RAM) chart depicts a WBS (work breakdown structure) identifier, a type of resource required, and quantity of resources needed for the task.
Which of the following are the ways of preparing solicitation notice to notify prospective sellers of their upcoming work? Each correct answer represents a complete solution. Choose all that apply. RFP IFP RFQ IFB
RFP RFQ IFB
You work as a project manager for uCertify Inc. You want to invite suppliers into a bidding process to bid on specific products. What will you use to accomplish the task?
RFQ
You work as a project manager for uCertify Inc. Your project is at risk as it is currently running behind schedule. You changed the project schedule to prevent the risk. Which risk response strategy have you used?
Risk avoid
Which of the following risk planning techniques reduces impact of a project threat?
Risk mitigation
You work as a project manager for uCertify Inc. You find that some of the uncertain events are impacting your project, as they were not tracked and planned. What could have been used to avoid this?
Risk register
Which of the following determines an action to be taken to reduce the negative impact of a risk on a project?
Risk response
You're a project manager for Bluewell Inc and currently working on the NGQQ project. You've completed risk analysis for all risk events, for which you and your project team have created risk responses. Which of the following risk-response planning techniques will you use to shift the impact of a threat to a third party, together with the responses?
Risk transference
You work as a project manager for uCertify Inc. You're working with vendors to perform some work of the project. Which of the following will you provide to the vendors to make them know exactly what you're asking to do?
SOW
You're preparing some variance figures for your project, and you want to show the variance between a task is estimated progress and its actual progress. What variance formula should you use?
SV = EV - PV
As a project manager, you have noticed that a team member is making unauthorized project changes. How will this impact the project?
Scope creep will occur.
Which document describes the procedures for preparing a WBS (work breakdown structure), how changes to scope will be addressed, how deliverables will be verified, and other elements?
Scope management plan
You work as a project manager for uCertify Inc. You find that your team members are facing issues in focusing on the purpose of the project, as additional requirements keep being requested by the key stakeholders. What should the team members use to focus on their project?
Scope statement
Which of the following meetings are involved in Agile methodology? Each correct answer represents a complete solution. Choose all that apply. Scrum Retrospective Kickoff Impromptu
Scrum Retrospective
As a project manager, which of the following are the important areas should you focus on when discussing performance with a team member? Each correct answer represents a complete solution. Choose all that apply. Specify performance expectations. Know about the team member's background. Identify inadequate performance behaviors. Reward superior performance.
Specify performance expectations. Identify inadequate performance behaviors. Reward superior performance.
A stakeholder was not able to attend the meeting of the project due to some reason. Which of the following will help him know about project progress? Each correct answer represents a complete solution. Choose all that apply. Status report Meeting agenda Communication plan Meeting plan
Status report Meeting agenda
You're asked to prepare an estimate for a project business case to install a group of servers at a new satellite office. There is very little detail available about this project. What will you use to compute your estimate?
The actual cost of a similar project
During the executing process, a project manager has been asked to create an issue log. Which of the following components are included in an issue log? Each correct answer represents a complete solution. Choose all that apply. The description of the issue The date the issue was submitted The resource breakdown structure The risk register
The description of the issue The date the issue was submitted
18 days
The figure below shows a series of steps in the network diagram. Which of the following is the duration of the path start-A-B-E-C-end?
The schedule variance of your project is -$8000. What does this mean?
The project is behind schedule.
Which of the following steps should a project manager take to ensure that product quality matches stakeholder expectations?
The project manager should monitor work performance.
Which of the following are included in scope baseline? The scope management plan, the project charter, and the work breakdown structure The scope management plan, the requirement document, and the business case The scope management plan, the scope statement, and the business case The scope statement, work breakdown structure, WBS dictionary
The scope statement, work breakdown structure, WBS dictionary
What is the primary purpose of a formal sign-off at a project's conclusion?
The sign-off indicates that the project meets documented requirements and the customer has accepted project deliverables.
You're working on a network diagram. Activity A is predecessor to Activity B. Activity B can't begin until Activity A is completed. What does this indicate?
There is a finish-to-start dependency relationship between Activity A and Activity B.
Your team has given you the following estimates: most likely, pessimistic, and optimistic. What technique will they use to determine a final expected value estimate for the task?
Three-point estimating
Which of the following refers to triple constraint in project management?
Time, scope, and cost
You work as a project manager for uCertify Inc. You need to create a work breakdown structure for your project. What will you use to accomplish the task? Each correct answer represents a complete solution. Choose all that apply. Tree structure diagram Process diagram Scatter diagram Outline form
Tree structure diagram and Outline form
You work as a project manager for uCertify Inc. Your project is currently running behind schedule. You have been asked by a customer to complete the project work on time. However, the project budget will not allow for additional resources. What will you do to meet the demands of the customer?
Use the fast tracking technique.
Stakeholders suggest a change in the project plan document of a project. Which of the following should a project manager mandate to record changes in a project plan document so that the changes can be registered and tracked?
Version control
What are the characteristics of a matrix organization? Each correct answer represents a complete solution. Choose all that apply. Weak to strong project manager authority A mix of full time and part time project resources Better inter-departmental communication Multiple projects compete for the same limited resources
Weak to strong project manager authority A mix of full time and part time project resources Better inter-departmental communication
You're a project manager for a medium-sized project. Some of its stakeholders, not including its project sponsor, have asked to meet with you as a group. They tell you that they're not happy with the deliverables, even though the acceptance criteria for each requirement have been met. They want you to immediately kill the project because any further expenditure of resources would simply be "throwing good money after bad." How will you answer them?
You should schedule a meeting with the stakeholders and the project sponsor before canceling the project prior to completion.
You're a project manager in your organization. A key stakeholder has requested that you change your project's scope, yet there are only four days left until its completion. What step must you take next to address this request?
You will tell the key stakeholder to submit the request to the change control board.
Which of the following statements are true about withdrawal? Each correct answer represents a complete solution. Choose all that apply. lt is considered an avoidance technique. lt is considered a win-lose situation. lt is considered a lose-lose situation. lt is a way of confronting a problem to find the best solution.
lt is considered an avoidance technique. lt is considered a lose-lose situation.
