CAPM Exam Study 2024

You are in the control procurement process in the executing process group. Which of the following is not a component of the project management plan that may be updated as a result of the Control Procurements process? Communications baseline Procurement management plan Schedule baseline Cost baseline

Communications baseline

You are in the control procurement process in the executing process group. Which of the following is not a component of the project management plan that may be updated as a result of the Control Procurements process? Communications baseline Procurement management plan Schedule baseline Cost baseline

Communications baseline Communication is not a component of the project management plan that may be updated. Communications baseline is a fictitious baseline.

You are a project manager for a very large company and have taken over a new project that was in the middle of execution. You would like to see which stakeholders have the greatest influence over your project. Where is the best place to find this information?

Correct Answer: Stakeholder register It is in the stakeholder register that a project manager would find which stakeholders have been identified as having the greatest influence over a project. The stakeholder register will also contain details about particular stakeholders to help understand what knowledge they may have. It also captures the requirements and various expectations they may have for the project.

You are in a meeting with the project team to determine the EMV of the project. Work package 1 has a probability of 25% and an impact of $10,000. Work package 2 has a probability of 50% and an impact of $50,000. What is the expected monetary value of work package 2? A $12,500 B $2,500 C $25,000 D $5,000

Correct answer: $25,000 Work package 2 has an Expected Monetary Value (EMV) of $25,000. The formula for EMV is Probability x Impact. Therefore, EMV = 50% x $50,000 = $25,000.

The project manager is reviewing the current earned value report, which shows the following: Schedule Performance Index (SPI) = 1.2 Cost Performance Index (CPI) = 1.6 Planned Value (PV) = $200,000 Schedule Variance (SV) = $40,000 What is the project's Cost Variance (CV)? A $125,000 B $160,000 C $90,000 D $96,000

Correct answer: $90,000 The project's Cost Variance (CV) is $90,000. The CV formula is CV = EV - AC Neither Earned Value (EV) nor Actual Cost (AC) is provided in the question; therefore, you must solve the question by working backward to the answer. 1. Find the EV: You can find Earned Value (EV) using the Schedule Variance (SV) formula: SV = EV - PV $40,000 = EV - $200,000 $40,000 + $200,000 = EV EV = $240,000 2. Find the AC: You can find AC using the CPI formula: CPI = EV / AC 1.6 = 240,000 / AC 1.6 x AC = $240,000 AC = $240,000 / 1.6 AC = $150,000 3. Find the Cost Variance (CV): CV = EV - AC CV = $240,000 - $150,000 CV = $90,000

The project manager started the project with a BAC of $5,000. The project currently has an EV of $2,000 and an AC of $1,000. What is the TCPI for the project? A 1.33 B 0.75 C 0.50 D 1.67

Correct answer: 0.75 To Complete Performance Index (TCPI) is a measure of the cost performance that must be achieved with the remaining resources to meet a specified management goal, expressed as the ratio of the cost to finish the outstanding work to the budget available. To calculate the efficiency that must be maintained to complete on plan, use the following formula: TCPI = (BAC - EV) / (BAC - AC) TCPI > 1.0 is harder to complete TCPI = 1.0 is same to complete TCPI < 1.0 is easier to complete TCPI = ($5,000 - $2,000) / ($5,000 - $1,000) TCPI = $3,000 / $4,000 TCPI = 0.75 The TCPI shows the project manager the rate that must be sustained for the remaining work to stay on budget.

You are requested to provide the variance of completion for the project you are in charge of. If Earned Value (EV) is $500, Actual Cost (AC) is $400, and Budget to Completion (BAC) is $1,000, what is the Variance at Completion (VAC) if one assumes that future work will be accomplished at the planned rate? A 600 B 500 C 900 D 100

Correct answer: 100 The Variance At Completion (VAC) is a projection of the amount of budget deficit or surplus expressed as the difference between the budget at completion and the estimate at completion. VAC can be calculated with the following formula: VAC = BAC - EAC. Positive = Under planned cost Neutral = On planned cost Negative = Over planned cost This question requires you to find the Estimate At Completion (EAC) before you can solve for VAC. Since future work will be accomplished at the planned rate, use the following formula: EAC = AC + BAC - EV EAC = $400 + ($1,000 - $500) EAC = $400 + $500 EAC = $900 Now that you have determined the EAC, calculate the VAC. VAC = BAC - EAC VAC = $1,000 - $900 VAC = $100

You are working on a technology project and the development phase is in week two of a four-week work period. You are informed by the tech lead that to finish the development phase, the development team will either need to augment with one additional resource or extend their original estimate by two weeks. The extended time frame will need to be approved by the project sponsor. You communicate this change through the proper channels to all stakeholders. Where is the BEST place to document this to make sure there is a record of the process? A Change log B Stakeholder register C Issue log D Project budget

Correct answer: Change log A change log is used to document changes that occur during a project. These changes (and their impact on the project in terms of time, cost, and risk) are communicated to the appropriate stakeholders. A change log is a comprehensive list of changes submitted during a project and its current status. A change can be a modification to any formally controlled deliverable, project management plan component, or project document. The issue log is used for logging issues or risks that come up in the project and is typically used before a resolution has been identified. Because the issue was properly brought up to the project sponsor, approved, and communicated as an official change, it should be logged in the change log. There was no change to the project budget, so logging this change there is unnecessary. The stakeholder register only holds information on the various stakeholders in the project and would not include official project changes.

The high-energy project manager motivates and inspires their team members by encouraging them throughout the project. Which leadership style does this best represent? A Charismatic B Transactional C Transformational D Interactional

Correct answer: Charismatic The most common examples of leadership styles include, but are not limited to, the following: Charismatic: The main characteristics of a leader with a charismatic style include high energy, enthusiasm, strong belief, and self-confidence. These personality traits then carry persuasive power to the team or its followers. Laissez-faire: Interpreted as "hands-off," this project manager's leadership style tends to allow their team to lead themselves. Teams are left to make decisions, set goals, and implement their own ideas in completing the assigned tasks. Transactional: This style focuses on goals, feedback, and ways to determine the rewards a person gets. A project manager with a transactional style will usually be rigid in implementing rules, processes, and procedures. They will even implement something called reward and punishment so that the team is always disciplined in implementing the values ​​it has created. Servant leader: A project manager with this style usually has traits such as a focus on others, growth, learning, shared prosperity, relationship orientation, and team collaboration. Transformational: This leadership style has characteristics such as empowering the team through ideal attributes and behaviors, inspirational motivation, encouraging innovation and creativity, and individual consideration. The main characteristic of the transformational leadership style is inspiration. Interactional: A combination of transactional, transformational, and charismatic. Project managers with an interactional style consider variables such as the work environment, corporate culture, market challenges, conflict and complexity, and the influence of leaders on the business.

You are leading a project that includes a multi-phased approach. The last milestone has been completed for the last phase. When does the project manager arrange for the storage of procurement records and/or drawings? A Close Project or Phase B Conduct Procurements C Control Procurements D Plan Procurement Management

Correct answer: Close Project or Phase As part of Project Integration Management, procurements are closed through the Close Project or Phase process. Project documents are an integral part of the Close Project or Phase process. To close the contract, all procurement documentation is collected, indexed, and filed. Information on contract schedule, scope, quality, and cost performance along with all contract change documentation, payment records, and inspection results are cataloged. This information can be used for lessons learned information and as a basis for evaluating contractors for future contracts. The project manager arranges for the storage of procurement records and/or drawings during the Close Project or Phase process. Other items that occur during the Close Project or Phase process include updates to records, final contract performance reporting, and lessons learned.

Bai is the project manager in charge of a team very diverse in skill sets and expertise. She works with the HR manager to add each team member's newly acquired skills to their human resource records. What process group will best identify where the project manager is currently in? A Closing B Monitoring & Controlling C Planning D Executing

Correct answer: Closing The project manager is in the closing process group when they are working with the HR manager to add the newly acquired skills of each team member to the team members' human resource records. Closing is those processes performed to formally complete or close a project, phase, or contract. At project or phase closure, the following may occur: Obtain acceptance by the customer or sponsor to formally close the project or phase Conduct post-project or phase-end review Record impacts of tailoring to any process Document lessons learned Apply appropriate updates to organizational process assets Archive all relevant project documents in the Project Management Information System (PMIS) to be used as historical data Close out all procurement activities, ensuring termination of all relevant agreements Perform team members' assessments and release project resources

The project manager performed the team members' assessments. Based on this information, which process group is the project manager's project currently in? A Monitoring & Controlling B Closing C Executing D Planning

Correct answer: Closing The project manager is in the closing process group when they have completed team members' assessments as well as released project resources. Other activities that can take place at project closing are as follows: obtain acceptance by the customer or sponsor to formally close the project or phase, conduct post-project or phase-end review, record impacts of tailoring to any process, document lessons learned, apply appropriate updates to organizational process assets, archive all relevant project documents in the Project Management Information System (PMIS) to be used as historical data, close out all procurement activities ensuring termination of all relevant agreements, and perform team members' assessments and release project resources.

You are the project manager, and three of your team members are constantly arguing with each other. To resolve their latest conflict, you help them come to a conclusion that uses a little of each of their ideas. Which conflict management technique is being used in this scenario? A Compromise/reconcile B Force/direct C Collaborate/problem solve D Withdraw/avoid

Correct answer: Collaborate/problem solve There are five general techniques for resolving conflict. Each technique has its unique place and use: Collaborate/problem solve: Incorporating multiple viewpoints and insights from differing perspectives; requires a cooperative attitude and open dialogue. This approach can result in a win-win situation. Withdraw/avoid: Retreating from an actual or potential conflict situation; postponing the issue to be better prepared or to be resolved by others. Smooth/accommodate: Highlighting areas of agreement rather than areas of difference; conceding one's position to the needs of others to maintain harmony. Compromise/reconcile: Searching for solutions that bring some degree of satisfaction to all parties to temporarily or partially resolve the conflict. This is generally a lose-lose situation. Force/direct: Pushing one's viewpoint at the expense of others; offering only win-lose solutions, usually enforced through a power position. This is often a win-lose situation. While similar to smooth/accommodate, the conflict management technique being used in this scenario is collaborate/problem solve, which is used to get to the root of an issue so that it will lead to consensus and commitment.

Shanda decided to use an iterative planning technique as a way to work a form of progressive elaboration on her project. Rolling wave planning is an iterative planning technique that she explored and decided to utilize. Which of the following is rolling wave planning not applicable to? A Work packages B Cost analysis C Planning packages D Release planning

Correct answer: Cost analysis Rolling wave planning is an iterative planning technique applicable to work packages, planning packages, and release planning when using an Agile or waterfall approach. Rolling wave planning involves a detailed plan of the work to be completed in the near term. The work in the future is planned at a much higher level.

You've recently joined a new Agile project, and the product owner invited you to a meeting to discuss the project's requirements. During the meeting, they expressed the need to receive detailed estimates. How should you respond to aligning with Agile practices? A Detailed estimates are subject to change as the requirements of the project change and evolve. B Detailed estimates are not typically provided in Agile projects due to the evolving nature of requirements. C Detailed estimates are best suited for short-term planning, applied in a just-in-time approach. D Detailed estimates can only be provided once the full scope of the project has been defined.

Correct answer: Detailed estimates are best suited for short-term planning, applied in a just-in-time approach. Emphasizing detailed estimates for short-term planning in Agile projects aligns with Agile's emphasis on adaptability and responsiveness to change. Agile methodologies advocate for a just-in-time approach to estimation, focusing on immediate and near-future work, as this allows for more precise and relevant estimates in environments where long-term forecasts are often impractical due to high variability and evolving scopes. The PMBOK Guide's recommendation of lightweight estimation methods supports this approach, offering quick, high-level forecasts that can be adjusted as project needs evolve. This strategy ensures that estimates remain accurate and relevant, reflecting the current understanding of the project and accommodating the fluid nature of Agile projects.

You are in a meeting with the project team and discussing various processes in the planning process group related to the project. Which of the following is an activity in the Planning process group? A Conduct Procurements B Develop the Project Charter C Identify the Project Stakeholders D Develop the Project Management Plan

Correct answer: Develop the Project Management Plan The planning process group includes those activities associated with the planning process, including developing the project management plan, defining the scope, developing the schedule, and planning communications management. The Planning Process Group includes all processes related to answering two questions: "What will you do?" and "How will you do it?" These processes are as follows: Plan Scope Management, Collect Requirements, Define Scope, Create Work Breakdown Structure (WBS), Plan Schedule Management, Define Activities, Sequence Activities Estimate Activities Duration, Develop Schedule, Plan Cost Management, Estimate Costs, Determine Budget, Plan Quality Management, Plan Resource Management Estimate Activity Resources, Plan Communications Management, Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, Plan Procurement Management, and Plan Stakeholder Engagement Develop the Project Charter and Identify the Project Stakeholders are activities in the initiating process group. Conduct Procurements is an activity within the executing process group.

You manage a team of remote workers who are dispersed geographically throughout the world and in different time zones. Your goal is to improve the team environment and collaboration. With that goal in mind, you request permission from your organizational leaders to purchase and implement a new highly sophisticated video conferencing system. What is this method best known as? A Electronic project management tools B Project information analysis system C Social media management D Electronic communications management

Correct answer: Electronic communications management Project Management Information Systems (PMIS) can ensure that stakeholders can quickly and efficiently access the information they need. Project information is managed and distributed using a variety of tools, including: Electronic project management tools: project management software, meeting and virtual office support software, web interfaces, project portals and dashboards, and collaborative work management tools Electronic communications management: email, fax, voicemail; audio, video, and web conferencing; websites and web publishing Social media management: websites and web publishing; blogs, and applications Using video conferencing to talk to team members is an example of electronic communications management. Project success is dependent on effective communication.

Tomasz is working on a large-scale Agile project and portions of the project are being contracted to a third-party service provider. It is imperative that the work progresses with the schedule maintained. In this case, due to the adaptive nature of his project, how does Tomasz ensure the work is progressing and the schedule is under control? A Only contract portions of the work that can be easily managed, executed, monitored, and controlled B Assign someone from the project team to monitor and control the third party's work schedule C Include the third party in all meetings related to the project D Ensure regular milestone status updates are provided by the third party contractors and suppliers

Correct answer: Ensure regular milestone status updates are provided by the third party contractors and suppliers According to the PMBOK Guide, "When work is being contracted, regular and milestone status updates from contractors and suppliers are a means of ensuring the work is progressing as agreed upon to ensure the schedule is under control." It is good practice to schedule status reviews and walk-throughs to ensure the contractor reports are accurate and complete. Periodic reviews such as retrospectives or lessons learned are effective ways to determine if approaches are working well and if improvements can be made by tailoring. Controlling the third party's schedule is not necessarily a beneficial task and can cause confusions as well as conflict and delays. If you only contract the easily managed portions of work, you may not be able to successfully handle the rest of the more difficult work internally.

You are managing a large construction project to build 100 new homes in a community over a four-year period. There are only three set variations of floor plans for buyers to choose from. The development area runs to the edge of a protected nature preserve, making it impossible to expand the build area of the project as construction progresses. The scope of work is well defined and known completely at the start of this project, with very little risk for scope increase. The contract type that fits this situation the best would be? A Cost plus fixed fee (CPFF) B Cost plus incentive fee (CPIF) C Time and materials (T&M) D Firm fixed price (FFP)

Correct answer: Firm fixed price (FFP) A Firm Fixed Price (FFP) contract involves setting a fixed total price for a defined product, service, or result to be provided. Because the scope of your construction project is well defined up front with little risk to area or architectural changes, and the buyer has precisely specified the requirements of the project, establishing a firm fixed price contract would be the best option for this project. This category of contract involves setting a fixed price for a well-defined product, service, or result. Fixed-price contracts include Firm Fixed Price (FFP), Fixed-Price Incentive Fee (FPIF), and Fixed Price with Economic Price Adjustment (FP-EPA), among others. In a Cost Plus Fixed Fee contract (CPFF), the seller is reimbursed for all allowable costs for performing the contract work and receives a fixed-fee payment calculated as a percentage of the initial estimated project cost. In a Cost Plus Incentive Fee contract (CPIF), the seller is reimbursed for all allowable costs for performing the contract work and receives a predetermined incentive fee based upon achieving certain performance objectives as set forth in the contract. A Time and Materials contract (T&M) is a hybrid type of contractual arrangement that contains aspects of both cost-reimbursable and fixed-price contracts. They are often used for staff augmentation, acquisition of experts, and any outside support when a precise statement of work cannot be quickly prescribed.

A project manager has been asked by a senior stakeholder to implement some changes to the project. In evaluating the situation and talking to the upper leadership team, the team agreed to proceed forward with the processes to implement the change. At what point should the project manager evaluate the impact of a requested change? A First, before any other action is started B After the change request is approved C After they get the customer to buy in on the change D After they find a way to save time by implementing the change

Correct answer: First, before any other action is started The project manager should evaluate the impact of a requested change before taking any other action. The project manager should follow these steps regarding requested changes: Evaluate the impact Create options Get the change request approved Get customer buy-in

You are working in an Agile environment where the project team is geographically dispersed throughout the world with overlapping time zones. What is a technique that could be used to bridge the gap between the physical distance between Agile team members? A Team collaboration B Continuous integration C Fishbowl windows D Pair programming

Correct answer: Fishbowl windows Adaptive and Agile practices promote co-located teams, where, at times, you will come across teams that are geographically distributed. To bridge a gap, fishbowl window techniques can be adapted. This involves setting up video conferencing links between geographically distributed teams.

What is the process of identifying project stakeholders regularly and analyzing and documenting relevant information regarding their interest, involvement, interdependencies, influence, and potential impact on project success? A Manage Stakeholder Engagement B Plan Stakeholder Engagement C Identify Stakeholders D Monitor Stakeholder Engagement

Correct answer: Identify Stakeholders Identify Stakeholders is the process of identifying project stakeholders regularly and analyzing and documenting relevant information regarding their interest, involvement, interdependencies, influence, and potential impact on project success. This process enables the project team to identify an appropriate focus to engage stakeholders. Identify Stakeholders is a process that will be performed throughout the project as necessary. Manage Stakeholder Engagement is a process of communicating and working with stakeholders to meet their needs/expectations, address issues as they occur, and foster appropriate stakeholder engagement and project activities throughout the project lifecycle. Monitor Stakeholder Engagement is the process of monitoring project stakeholder relationships and tailoring strategies for engaging stakeholders through modification of engagement strategies and plans. Plan Stakeholder Engagement is the process of developing approaches to involve project stakeholders based on their needs, expectations, interest, and potential impact on the project.

A mobile device manufacturer is halfway through prototyping a new product when the supplier who provides one of the raw materials used to manufacture their device casings declares bankruptcy and goes out of business. The team had not foreseen this problem during project planning. Which of the following best describes a process that may not have been performed comprehensively in this scenario? A Perform qualitative risk analysis B Monitor risks C Identify risks D Plan risk management

Correct answer: Identify risks The identify risks process is used to identify potential project risks individually as well as overall risks to the project in general. The characteristics of the risks are documented so that they can be analyzed (perform qualitative and perform quantitative risk analysis processes) and planned for (plan risk responses). Without proper identification of risks before they are realized, they cannot be planned for, and responses are often pressured by time and cost constraints. Plan risk management is incorrect, as it refers to the process when the methods of conducting risk management activities for a project are determined. Perform qualitative risk analysis is incorrect, as it prioritizes individual risks for deeper analysis due to factors like probability of occurrence and impact to the project. Monitor risks is incorrect, as it tracks the implementation of the planned risk management activities.

The project manager just received approval to implement a change request. What is the next step the project manager should take? A Obtain the customer's buy-in B Implement the change C Create options to make the change successful D Evaluate the impact of the change

Correct answer: Implement the change The next step that the project manager should take after receiving approval to implement the change request is to implement the change. When a project manager receives a change order request, the first step is to attempt to resolve the issue with corrective action that would not change the plan or its components. If this is not an option, the project manager would analyze the change order request and make a recommendation for approval or rejection. The analysis and recommendation would be forwarded to the project sponsor who decides whether to approve or reject the change order request. The project manager documents the result. If the sponsor approves the change order request, the project manager implements it by changing the project budget, schedule, and scope as necessary.

Paul is tasked with managing a complex, multi-phase Information Technology project, which requires him to segment the large project into distinct phases. At what stage in the project management process does this segmentation typically occur? A Executing B Monitoring & Controlling C Initiating D Planning

Correct answer: Initiating Segmenting a large project into phases is a crucial activity that takes place during the initiating phase of the project management process. For complex projects like the one Paul is handling, it's essential to break down the work into manageable phases. This division allows for more focused planning and execution, ensuring that each phase aligns with the project's overall objectives and business needs. During the initiating phase, important groundwork is laid, such as validating decisions made during the initial Project Charter development and Stakeholder Identification. Revisiting the initiating processes at the beginning of each new phase also helps maintain alignment with the business goals that justified the project's initiation. This phase is not just about starting the project; it's also about setting a solid foundation for the project's lifecycle, including defining the structure of how the project will be managed in phases.

Carla is the project manager at a highly secured electrical facility. She is in the process of collecting processes, procedures, and historical information for the department's new electrical management and security project. The project is currently in which phase of the project management process? A Planning B Executing C Initiating D Monitoring & Controlling

Correct answer: Initiating The project manager is currently in the initiation phase of the project. Initiating is the processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase. The Initiating phase of the project management process includes the following: Selecting the project manager Determining company culture and existing systems Collecting processes, procedures, and historical information Dividing large projects into phases Understanding the business case Uncovering initial requirements, assumptions, and risks Assessing project and product feasibility within the given constraints Creating measurable objectives Developing the project charter Identifying stakeholders Identifying the appropriate focus for each stakeholder

You have just been assigned to a new project and are working at the beginning stages. You identify key deliverables based on the business requirements to manage customer expectations and direct the achievement of project goals. This task is completed in what process group? A Planning B Executing C Monitoring & Controlling D Initiating

Correct answer: Initiating There are eight tasks associated with the Initiating the Project process group. Identifying key deliverables based on the business requirements to manage customer expectations and direct the achievement of project goals is part of this process group. The Initiating Process Group also includes establishing the business success criteria that will be the metrics used to answer the question "How will you know you did it?"

Moira begins the event by illustrating the proposed iteration goals alongside reviewing the higher-priority stories. The development team discusses options for implementation, technical issues, dependencies, and other requirements. They choose the effort to be performed in the next iteration. What type of meeting does this best describe? A Phase review B Status review C Backlog planning D Iteration planning

Correct answer: Iteration planning An iteration planning meeting is used to clarify the details of the backlog items, acceptance criteria, and work effort required to meet an upcoming iteration commitment. An iteration planning meeting is also known as a sprint planning meeting. Iterations are timeboxed cycles of development on a product or deliverable in which all of the work that is required to deliver value is conducted.

Camila is in a meeting with her project team to evaluate the dependencies of the tasks. They explore the critical path within the current schedule. The critical path is the sequence of activities that represents the: A Least activities through a project B Most activities through a project C Longest path through a project which determines the shortest possible duration of the project D Shortest path through a project which determines the shortest possible duration of the project

Correct answer: Longest path through a project which determines the shortest possible duration of the project The critical path refers to the sequence or order of schedule activities that will make up the entire duration of a project. It represents the longest path through the entirety of the project, and typically, this path consists of every single activity that must be concluded from the kickoff to the ultimate conclusion of the project. Being the longest path, it is also the shortest possible duration of the project. The critical path will help the project manager to determine the length of time the project will take and where their attention would be best focused.

You have just implemented a risk response and will need to track its effectiveness. Which process improves the efficiency of the risk approach throughout the project lifecycle to continuously optimize risk responses? A Control Scope B Perform Integrated Change Control C Control Quality D Monitor Risks

Correct answer: Monitor Risks Monitor Risks is the process of monitoring the implementation of risk response plans, tracking identified risks, identifying new risks, and evaluating risk process effectiveness throughout the project. The key benefit of this process is that it allows for project decisions to be based on current information, not planned information, so risk response can be continually optimized.

Nina, along with her team, is performing vendor analysis on a narrowed list of vendors for the project. She remembers that the project was closed about three years ago. The majority of the team on that project has left the organization. During the next project meeting, she consults the project archives to review the lessons learned from that particular project. The previous manager mentioned that the currently identified top vendor had difficulties meeting milestones. This led to a missed project delivery date. This information is BEST identified as an influence on what project management condition? A Project documents B Enterprise environmental factors C Work performance data D Organizational process assets

Correct answer: Organizational process assets Organizational process assets are the plans, processes, policies, procedures, and knowledge bases specific to and used by the performing organization. They include any artifact, practice, or knowledge from any or all of the organizations involved in the project that can be used to perform or govern the project. The process assets also include the organization's knowledge bases, such as lessons learned and historical information. Process assets may include tools, methodologies, approaches, templates, frameworks, patterns, or PMO resources. The project team using historical data from a previous similar project is a direct influence on organizational process assets during the Project Procurement Management process.

You have just been promoted to project manager for your organization. A senior stakeholder calls you into a meeting to discuss the various management skills that you will use. Which of the following is not an example of the management skills you will use as a project manager? A Negotiating agreements to satisfy the project needs B Influencing people to support the project C Facilitating consensus toward project objectives D Overcoming resistance to change

Correct answer: Overcoming resistance to change Management skills used by the project manager include, but are not limited to, the following: Facilitate consensus toward project objectives Influence people to support the project Negotiate agreements to satisfy the project needs Modify organizational behavior to accept the project outcomes Overcoming resistance to change is an example of an interpersonal skill used by the project manager, not a management skill.

During the planning phase, the project manager and team decided to implement a significant feature in their project, aimed at reducing overtime by 90%. This decision was influenced by excessive overtime in a previous project, leading to various constraints. Which term best describes this aspect of the project management process? A Product scope B Process improvement plan C Project title D Project scope

Correct answer: Process improvement plan The correct term in this scenario is Process Improvement Plan. This is because the action taken by the project manager and team directly addresses a specific operational issue (excessive overtime) encountered in a previous project. By incorporating a major feature to reduce overtime, they are effectively executing a plan to improve the project process. This is distinct from product scope, which relates to the features and functions of the project's end product, or project scope, which encompasses the total work involved in delivering the product. Product scope refers to the characteristics and functionalities of the project's end result. Project scope involves the work and activities needed to deliver the project's outcome. Project title is the name or identifier of the project.

You are the project manager for a technology company working on a project to create a smaller, thinner cell phone design. You have a document that outlines the projected dimensions, lists the necessary parts, and includes graphics of the finished product. This is an example of what type of document? A Work breakdown structure B Business need C Statement of work D Product scope description

Correct answer: Product scope description The product scope description is part of the project scope statement. It documents the characteristics of the product, service, or result described in the project charter and requirements documentation. In this case, the document being described includes the characteristics of the product that needs to be created; therefore, it is the scope description.

You have just been reassigned to a new project. As the project manager, which document would you refer to for information regarding how project requirements will be analyzed? A Requirements management plan B Scope management plan C Requirements traceability matrix D Requirements documentation

Correct answer: Requirements management plan As the project manager, you would refer to the requirements management plan. This plan is part of the project management plan that describes how requirements will be analyzed as well as documented and managed. The requirements traceability matrix is a grid that links product requirements with the deliverables that will satisfy the requirements. Requirements documentation contains a description of how each requirement will meet the business need of the project. The scope management plan describes how the project scope will be defined, developed, monitored and controlled, and verified.

The project manager is considering which recognition and rewards will be given to team members and when they will be given. Which of the following is the project manager completing? A Quality management plan B Resource management plan C Project management plan D Interpersonal and team skills

Correct answer: Resource management plan If the project manager is considering which recognition and rewards will be given to team members and when they will be given, they are developing the recognition plan for the resource management plan. The resource management plan is an output of the Plan Resource Management process area and is a component of the project management plan. It provides guidance on how project resources should be categorized, allocated, managed, and released. The resource management plan may include, but is not limited to, the following: Identification of resources Acquiring resources Roles and responsibilities (role, authority, responsibility, competence) Project organization charts Project team resource management Training Team development Resource control Recognition plan

Rasheed is the lead project manager for a telecommunications organization and is in charge of training new project managers. One of the new project managers is assisting with managing the communications process. In evaluating the documents, he notices a document that does not belong in this process. Which of the following is not an example of a project document that would be an input to the Manage Communications process? A Lessons learned register B Resource management plan C Stakeholder register D Change log

Correct answer: Resource management plan The resource management plan is part of the project management plan, which is an input to the Manage Communications process. It is not a project document. The communications management plan includes components of the project, program, or portfolio management plan that describes how, when, and by whom information about the project will be administered and disseminated.

The project manager informed their team that they would receive an extra day of paid time off if they completed the project by its assigned deadline. Which of the following project manager powers does this best describe? A Reward-oriented B Expert C Referent D Persuasive

Correct answer: Reward-oriented Reward-oriented is the project manager power that best describes the example given. This is the power that comes from the ability to provide rewards (e.g., praise, money, etc.). Persuasive is the ability to provide arguments that move people to a desired course of action. Expert is the power of the project manager who is a technical or project management expert. Referent is when the project manager has respect or admiration for others and is thought of as a credible person.

You are evaluating the dependencies that exist currently within your risk management plan to determine its accuracy. Which of the following is best described as an action to verify that all risks have been identified, that plans have been created to handle risks, and that the individuals responsible for responding to the risks are prepared to take action? A Risk reassessment B Reserve analysis C Workaround D Risk audit

Correct answer: Risk audit A risk audit is an action to verify that all risks have been identified, that plans have been created to handle risks, and that the individuals responsible for responding to the risks are prepared to take action. Basically, a risk audit examines and documents the effectiveness of the risk responses. This is in relation to dealing with the root causes and identified risks. The risk audit also evaluates the effectiveness of the risk management process. A workaround is an unplanne d response that is created to handle unexpected problems on a project. A risk reassessment is an action taken to periodically review and adjust the documentation of the risk management plan and risk register. A reserve analysis is a review of the project's financial resources to compare the current balance against the projected amount needed.

You are conducting stakeholder analysis with the project team. This is important in being able to distinguish the importance level of each stakeholder. Describing classes of stakeholders based on their power, urgency, and legitimacy is an example of what stakeholder classification model? A Salience Model B Power/Influence Grid Model C Influence/Impact Grid Model D Power/Interest Grid Model

Correct answer: Salience Model There are several classification models used for stakeholder analysis. In the Salience Model, the stakeholders are described based on the following attributes: Power: Ability to impose their will Urgency: Need for immediate attention Legitimacy: Appropriateness of their involvement The Salience Model is about stakeholders. Salience means prominent, noticeable, or perceived as important. This model was proposed by Ronald K. Mitchell, Bradley R. Agle, and Donna J. Wood. In a power/interest grid model, stakeholders are grouped based on their level of authority ("power") and their level of concern ("interest") regarding project outcomes. In a power/influence grid model, stakeholders are grouped based on their level of authority ("power") and their active involvement ("influence") in the project. In an influence/impact grid model, stakeholders are grouped based on their active involvement ("influence") in the project and their ability to effect changes to the project's planning or execution ("impact").

Which of the following tools or techniques in the Control Schedule process is used to find ways to bring project activities that are behind back into alignment with the plan by fast-tracking or crashing project work? A Leads and lags B Schedule compression C Critical path method D Resource optimization

Correct answer: Schedule compression Tools and techniques used during the Control Schedule process include: Data analysis Critical path method Project management information system Resource optimization Leads and lags Schedule compression Schedule compression is the tool or technique used to find ways to bring project activities that are behind back into alignment with the plan by fast-tracking or crashing project work. Leads and lags can be applied during network analysis to bring activities that are behind back into alignment with the plan.

You have just acquired a project and were told that the senior stakeholders in your organization have decided to run this project using Agile. Which of the following is true regarding scope in an Agile environment? A Scope is defined and approved prior to the start of the project B Scope is not defined during the project C Scope is defined and redefined throughout the project D Scope is defined once during project planning

Correct answer: Scope is defined and redefined throughout the project Agile environments purposely spend less time trying to define and agree on scope; therefore, the scope is defined and redefined throughout the project. In projects with evolving requirements, high risk, or significant uncertainty, the scope is often not understood at the beginning of the project or it evolves during the project.

Dennis has just been assigned to an Agile project due to his leadership abilities from previous projects. He is known to focus on his team's growth, learning, development, autonomy, and well-being. Which leadership style does this best represent? A Transactional B Interactional C Servant leader D Laissez-faire

Correct answer: Servant leader The most common examples of leadership styles include, but are not limited to, the following: Servant leader: A project manager with this style usually has traits such as a focus on others, growth, learning, shared prosperity, relationship orientation, and team collaboration. Laissez-faire: Interpreted as "hands-off," this project manager's leadership style tends to allow their team to lead themselves. Teams are left to make decisions, set goals, and implement their own ideas in completing the assigned tasks. Transactional: This style focuses on goals, feedback, and ways to determine the rewards a person gets. A project manager with a transactional style will usually be rigid in implementing rules, processes, and procedures. They will even implement something called reward and punishment so that the team is always disciplined in implementing the values ​​it has created. Transformational: This leadership style has characteristics such as empowering the team through ideal attributes and behaviors, inspirational motivation, encouraging innovation and creativity, and individual consideration. The main characteristic of the transformational leadership style is inspiration. Charismatic: The main characteristics of a leader with a charismatic style include high energy, enthusiasm, strong belief, and self-confidence. These personality traits then carry persuasive power to the team or its followers. Interactional: A combination of transactional, transformational, and charismatic. Project managers with an interactional style consider variables such as the work environment, corporate culture, market challenges, conflict and complexity, and the influence of leaders on the business.

Company X is in the process of implementing new software. Jai is the head of the IT department for Company X and Bai is the operations manager for the department receiving the new software. What are Jai and Bai best considered? A Sponsors B Customers C Project managers D Stakeholders

Correct answer: Stakeholders Jai and Bai would both be considered stakeholders for Company X's software implementation project. Stakeholders are individuals who will affect or be affected by a project. The project manager is the person in charge of the project, and the project sponsors are those who are authorizing the project to occur.

The project sponsor has asked you to provide a particular analysis report at the next meeting. Which earned value (EV) analysis technique measures the cost of completing the remaining work against the remaining budget? A EAC B TCPI C CPI D ETC

Correct answer: TCPI To Complete Performance Index (TCPI) is a measure of the cost performance that must be achieved with the remaining resources to meet a specified management goal expressed as the ratio of the cost to finish the outstanding work to the budget available. To calculate the efficiency that must be maintained to complete on plan, use the following formula: TCPI = (BAC - EV) / (BAC - AC) TCPI > 1.0 is harder to complete TCPI = 1.0 is same to complete TCPI < 1.0 is easier to complete To calculate the efficiency that must be maintained to complete the current EAC, use the following formula: TCPI = (BAC - EV) / (EAC - AC) TCPI > 1.0 is harder to complete TCPI = 1.0 is same to complete TCPI < 1.0 is easier to complete

It has been a long 6 months of project execution, and you have just completed the last requirement for the project. Who is responsible for providing formal notice that a contract has been completed? A The stakeholders B The seller C The buyer D The project manager

Correct answer: The buyer A procurement contract is created between a buyer and a seller, and the seller is the one who is responsible for doing the work. Therefore, it is the buyer who must determine if the work has met their expectations.

After conducting a cost-benefit analysis, it is determined that the project you are working on will increase company sales by 15% over the next three years. The organization has set a goal to increase sales by 12% within the next three years. This project fits into what? A The company's business need for the project B The company's strategic plan C The product scope description D The project statement of work

Correct answer: The company's strategic plan The strategic plan documents the organization's strategic vision, goals, and objectives and may contain a high-level mission statement. All projects should be aligned with their organization's strategic plan. Strategic plan alignment ensures that each project contributes to the overall objectives of the organization. In this case, the organization has announced it would like to see a 12% increase in sales over the next three years, and completing this project will exceed that organizational goal.

The project charter is a very important element in the initiating process group. Oftentimes, the project manager is asked to assist with its development. Which of the following statements is true about the content of a project charter? A The content of the project charter should be adjusted to show the project's success B The content of the project charter should be broad enough that it does not need to be changed C The content of the project charter should be detailed and updated as the project progresses D The content of the project charter should be filled in as the project progresses

Correct answer: The content of the project charter should be broad enough that it does not need to be changed A project would not exist without a project charter, and it is created to provide high-level requirements for the project, not detailed requirements. Therefore, the project charter does not need to be changed or updated as the project progresses.

The project sponsor has asked the project manager to provide the CPI at the next meeting. The project manager calculates the CPI and finds that the result is .76. What does this mean? A The project is currently expected to be 76 percent over budget when completed B The project is ahead of schedule C The project is progressing at 76 percent of the planned rate D The project is getting back about 76 cents out of every dollar that is put into it

Correct answer: The project is getting back about 76 cents out of every dollar that is put into it Cost Performance Index (CPI) is a measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost. To calculate the CPI, use the formula CPI = EV / AC. CPI values > 1.0 indicate a project is under planned cost CPI values = 1.0 indicate a project is on planned cost CPI values < 1.0 indicate a project is over planned cost A CPI of .76 tells the project manager that the project is only getting about 76 cents out of every dollar that is put into it.

You are coaching an agile project, and you review the progress report. You have determined that the project is not conforming to the product owner's backlog requirements. You are surprised since you organized the project work yourself and set the iteration goal for the team. What would have been your best course of action? A To have allowed the team to self-organize B To have told the team to submit daily action reports C To have created a contingency reserve D To have provided additional agile training to the team

Correct answer: To have allowed the team to self-organize In an agile or adaptive project, the team is better off self-organizing. A self-organizing team is a cross-functional team in which people assume leadership as needed to achieve the team's objectives. A cross-functional team is not isolated to a particular task but could benefit the entire project. This action will also ensure a much higher buy-in from the agile team.

You are in the process of auditing the quality of a multi-phased project you are leading. The objective of a quality audit may include all except which of the following? A To identify good practices being performed B To share good practices implemented in similar projects C To identify additional stakeholders D To identify gaps and shortcomings

Correct answer: To identify additional stakeholders Quality audits are conducted to determine if a project is complying with organizational policies, practices, and procedures. A quality audit will not be performed to identify additional stakeholders. A quality audit may be performed to identify any gaps or shortcomings, current good practices that are being performed, or to share good practices implemented in other similar projects.

Marjatta is in a conversation with a fellow project manager about stewardship within their roles. She explains that there is a duty in which they represent themselves, their position, and the team in the most accurate way that represents the organization. This type of behavior allows stakeholders to understand the level of commitment they can make regarding resources, decision making, or any type of approval. What stewardship duty does this best represent? A Care B Trustworthiness C Compliance D Integrity

Correct answer: Trustworthiness Stewardship duties of trustworthiness represent themselves, their roles, their teams, and their authority with the most accuracy that is internal and external to their respective organization. In this context, people will understand the degree to which they can commit resources, make decisions, or approve anything. Trustworthiness includes proactively evaluating conflicts among personal interests, organizations, or clients.

You are working with a senior stakeholder within your organization to perform a cost-benefit analysis of your newly initiated project. Which of the following best describes the reason to conduct a cost-benefit analysis? A Participate in the development of the project charter by compiling and analyzing gathered information to ensure project stakeholders are in agreement on its elements B Conduct an analysis using appropriate tools and techniques to align expectations and gain support for the project C Validate project alignment with organizational strategy and expected business value D Identify high-level risks, assumptions, and constraints based on the current environment, organizational factors, historical data, and expert judgment to propose an implementation strategy

Correct answer: Validate project alignment with organizational strategy and expected business value Performing a cost-benefit analysis is an effective way to analyze the value of the project with the project sponsor and stakeholders and ensure the project is in line with the overall operational strategy of the organization. A cost-benefit analysis serves as a financial tool employed to assess the benefits of a project relative to its associated costs. Its purpose is to evaluate the merits and drawbacks of various alternatives, aiding in the selection of the most advantageous option in terms of benefits. By comparing the projected benefits against the costs incurred, a cost-benefit analysis empowers project managers to gauge the cost-effectiveness of project activities. Essentially, this analysis provides a clear comparison between the expenses involved in an activity and the anticipated gains it is expected to yield.

The project you are working on has very high uncertainty and risk associated with it. The deliverables were designed separately, and there are different project managers leading them. What development approach was utilized to create this project? Operational approach Hybrid approach Adaptive approach Predictive approach

Hybrid Approach