IPMA Exam

If the project has a 60% chance for a $50,000 profit, and a 40% chance for a $20,000 loss, what is the expected monetary value of the project? Chance of profit - chance of loss A. $8,000 B. $22,000 C. $30,000 D. $38,000

$22,000

Delegations skills

- Communication - Giving Feedback - Time Management - Training - Trust

What are the 3 types of project support office?

- Directive - Controlling - Supportive

Behaviors that interfere with creativity

- Fear: Fear of failure/ridicule - Poor leadership: No time or encouragement -Pressure to produce immediate results: Unrelenting pressure to produce

Risk Management Steps

- Identification - Assessment - Response Planning - Monitoring and Contol

Behaviors that promote openness

- Model open communication -Acknowledge Each employee - Promote psychological safety -Build trust through communication

Define a negative float and explain how it's created

- Negative float is the amount of time by which the late start date of an activity precedes it's start date. For example: if the early start is day 10, and the late start is day 8; total float is -2 (negative float)

Project Characteristics

- Unique - Temporary in nature - Completed when the goals are achieved

If Early Start (ES) = 5, Late Start (LS) = 8, & Early Finish (EF) = 9, then Late Finish =? A. 8 B. 9 C. 12 D. 17

12 Early Finish (9) - Early Start (5) = 4; therefore Late Start (8) + 4 = 12

For a fixed-price (lump-sum) contract, the seller's proposed price is: A. Essentially the same as their cost-estimate B. Equal to their estimated direct costs plus a percentage allowance for profit C. A business decision that uses their cost estimate as a key input D. Approximately twice their cost estimate to allow for corporate overhead.

A business decision that uses their cost estimate as a key input

A purchase order represents: A. A commitment B. An expense C. A cash outflow D. A capital investment

A commitment

From the buyer's viewpoint, the type of contract that requires the most detailed definition of the product of the project is: A. A fixed-price (lump-sum) contract B. An indefinite-delivery contract C. A cost-reimbursable contract D. A time-and-materials contract

A fixed-price (lump-sum) contract

Which statement regarding change control is correct? A. Using a fixed-price (lump-s a. um) contract will minimize the need for change control. B. A fixed-price (lump-sum) contract should include procedures to accommodate changes. C. Using a cost-reimbursable contract will minimize the process of change control. D. Changes to cost-reimbursable contracts are usually counter-productive.

A fixed-price (lump-sum) contract should include procedures to accommodate changes.

Program definition

A program is a set of related projects and activities, managed in a coordinated fashion and under a structure that allows for the delivery of outcomes and benefits

Project definition

A project is a temporary endeavor to create a unique product, service or result. Deadlines and cost constraints are tied to the project.

Which option is the most important factor to consider in deciding whether to use a fixed-price (lump-sum) contract or a cost-reimbersable one? A) How well defined the scope is B) The expected duration of the project C) The expected value of the contract D) Relevant environmental regulations

A) How well defined the scope is

From the buyer's viewpoint, the type of contract that requires the most detailed definition of the product of the project is: A. A fixed-price (lump-sum) contract B. An indefinite-delivery contract C. A cost-reimbersable contract D. A time-and-materials contract

A. A fixed-price (lump-sum) contract

Which statement describes one of the most distinctive characteristic of projects? A. An approach to balancing risk, size, and other factors across multiple projects B. A management process that emphasizes using subjective project selection criteria C. The new term for managing by objective D. An alternative approach to funding project management improvements

A. An approach to balancing risk, size, and other factors across multiple projects

Managing by projects means that an organization is: A. Applying project management techniques to as much of the organization's work as possible. B. Using project management techniques on any work over eight hours in duration. C. Training all employees to be project team members. D. Outsourcing as much work as possible to achieve improved financial management.

A. Applying project management techniques to as much of the organization's work as possible.

All of the following describe an aspect of scope except: A. Cost B. Functionality C. Features D. Characteristics

A. Cost

A project charter A. Expresses management's commitment to the project B. Is normally issued by the project manager C. Is used mostly when dealing with potential sellers of long-lead-time items D. Is one of the key outputs of project planning

A. Expresses management's commitment to the project

When there is a complex message that could easily be misunderstood, the most effective medium to use is: A. Face-to-face contact B. A written memo reviewed by a colleague C. Email D. Tele-conferencing

A. Face-to-face contact

In identifying possible solutions to problems, you should do all of the following except: A. Involve only those team members with technical expertise in the area of the problem B. Stimulate as many ideas as possible C. Define metrics to evaluate the merits of ideas D. Rely as much on intuition as on logic

A. Involve only those team members with technical expertise in the area of the problem

A probability-impact matrix should be used to prioritize risks when: A. It is difficult to estimate probabilities and impacts B. Management wants to include urgency as part of risk analysis C. The team wants to avoid most risks D. The client has a high risk tolerance

A. It is difficult to estimate probabilities and impacts

Which option is most likely to be included in a project closeout report? A. Lessons learned B. Accepted risks C. WBS Dictionary D. Design alternatives considered

A. Lessons learned

Contingency allowances should be: A. Made for both cost and schedule B. Large enough to guarantee that all project objectives will be met C. Used only on large projects D. Established as soon as the project has been approved

A. Made for both cost and schedule

Which approach is most likely to lead to a satisfactory & lasting resolution of the problem? A. Problem solving B. Smoothing C. Withdrawal D. Splitting the difference

A. Problem solving

Primary responsibility for quality in a project rests with the: A. Project Manager B. Project Engineer C. Quality Department Manager D. Sponsor

A. Project Manager

Negotiation is when two or more parties are trying to reach an agreement that: A. Satisfies both their interests, at least to some extent B. Minimizes project delays C. Ensures a clear win for one of them D. Exceeds their goals

A. Satisfies both their interests, at least to some extent

Most program managers manage by focusing on: A. Selected critical elements of the projects in their program B. The detailed work-items of the projects in their program C. The management styles of the project managers who report to them D. The activities of the program management office

A. Selected critical elements of the projects in their program

Which type of behavior from the project manager is most likely to help produce a successful project? A. Shows confidence in team members B. Blames team members for problems C. Makes decisions independently D. Uses the same leadership style in all situations

A. Shows confidence in team members

By choosing to use a cost-reimbursable contract, the buyer is accepting most of the risk associated with: A. Uder estimates B. Schedule delays C. Poor quality D. Resource availability

A. Uder estimates

Which type of behavior from the project manager is most likely to help produce a successful project? A. Uses business stories to reinforce important points B. Creates stress in order to ensure high productivity C. Minimizes the importance of cultural differences D. Uses humor to deflect criticism

A. Uses business stories to reinforce important points

Which document would have the most detailed description of the work of the project? A. Work breakdown structure B. Milestone chart C. Scope management plan D. Risk response list

A. Work breakdown structure

Out-of-scope work refers to: A. Activities not included in the project B. Project management assignments C. Project progress reporting D. Changes which reduce benefits realized

Activities not included in the project

Which of the following is the most likely consequence of failing to properly schedule limited resources? A. Activity start-up delays B. Lower Cost Performance Index (CPI) C. Inability to take corrective action D. Breach of contract

Activity start-up delays

Which of the following items is not a characteristic of a well-stated project objective? A. Specific B. Adjustable C. Measurable D. Realistic

Adjustable

Which statement best characterizes project portfolio management? A. An approach to balancing risk, size, and other factors across multiple projects B. A management process that emphasizes using subjective project selection criteria C. The new term for "managing by objective" D. An alternate approach to funding project management improvements

An approach to balancing risk, size, and other factors across multiple projects

Which of the following options best describes project management? A. A large number of related activities grouped into stages B. The scheduling of activities that support business objectives C. A system of interconnected processes that occur once in each project D. An common approach to developing new products and services

An common approach to developing new products and services

A project charter is: A. An expression of management's commitment to the project B. Normally issued by the project manager C. Used mostly when dealing with potential sellers of long-lead-time items D. One of the key outputs of projects planning

An expression of management's commitment to the project

Which of the following would be least likely to be managed using a project management approach? A. An undertaking to support a strategic initiative B. An undertaking that is routine and frequently performed by the organization C. An undertaking with a high degree of interdependence among the activities D. An undertaking with an unusually complex scope

An undertaking that is routine and frequently performed by the organization

Estimating the cost of developing a new computer by saying it will cost 10% more than previous models is an example of: A. Analogous estimating B. Bottom-up estimating C. Grassroots estimating D. Parametric estimating

Analogous estimating

"Managing by projects" means that an organization is A. Applying project management techniques to as much of the organization's work as possible. B. Using project management techniques on any work over eight hours in duration C. Training all employees to be project team members D. Outsourcing as much work as possible to achieve improved financial management

Applying project management techniques to as much of the organization's work as possible.

A change control board is a formally defined group of stakeholders responsible for: A. Approving changes to the project baseline B. Approving team work assignments C. Minimizing the number of changes D. Reviewing the project audit report

Approving changes to the project baseline

Managing Projects

Are a way to deliver value to an organization

Negotiations are generally most effective when the parties: A. Alternate between friendly and hostile B. Are cordial and cooperative C. Continue without a break until the agreement is reached D. Take a tough stand from the start

Are cordial and cooperative

The most frequent reason for changing the cost baseline is: A. That the original estimating assumptions were incorrect B. Because the current baseline is no longer useful C. As the result of an approved scope change D. In response to a schedule change

As the result of an approved scope change

In the project context, measuring results & taking corrective action is called: A. Coordination B. Control C. Synergy D. Feedback

B. Control

When the scope is poorly defined or poorly understood, there is a greater-than-normal need for: A. A large project team B. Cooperation and communication among the stakeholders C. Daily reporting of actual expenditures D. The use of automated scheduling tools

B. Cooperation and communication among the stakeholders

Reviewing problems that occurred on previous projects can be most helpful in: A. Avoiding Risks B. Identifying Risks C. Prioritizing Risks D. Monitoring Risks

B. Identifying Risks

Cost & schedule risk can be directly mitigated through the use of: A. Simulations B. Reserves C. Decision Trees D. Status Reports

B. Reserves

Given that both the cumulative cost variance (CV) and the cumulative schedule variance (SV) are negative, and given that ACWP (Actual Cost of Work Performed), BCWS (Budgeted Cost of Work Scheduled), and BCWP (Budgeted Cost of Work Performed) are all project-to-date, which statement is true? A. ACWS is greater than BCWS, which is greater than BCWP B. BCWP is less than ACWP and also less than BCWS C. ACWP is greater than BCWP which in turn is more than BCWS. D. BCWP is less than ACWP but greater than BCWS.

BCWP is less than ACWP and also less than BCWS

The IPMA-USA Code of Ethics requires you to: A. Accept reasonable compensation for your work B. Be honest in representing your professional capabilities C. Be committed to proven techniques in project management D. Treat all persons the same

Be honest in representing your professional capabilities

Which type of cost estimate would be expected to have the narrowest range of values? A. Preliminary estimate B. Budget estimate C. Conceptual estimate D. Order of magnitude estimate

Budget estimate

For a fixed-price (lump-sum) contract, the seller's proposed price is: A. Essentially the same as their cost estimate B. Equal to their estimated direct costs plus a percentage allowance for profit C. A business decision that uses their cost estimate as a key input D. Approximately twice their cost estimate to allow for corporate overhead

C. A business decision that uses their cost estimate as a key input

Which statement regarding change control is correct? A. Using a fixed-price (lump-sum) contract will minimize the need for change control B. Using a cost-reimbursable contract will minimize the process of change control C. A fixed-price (lump-sum) contract should include procedures to accommodate changes D. Changes to cost-reimbursable contracts are usually counter-productive

C. A fixed-price (lump-sum) contract should include procedures to accommodate changes

Effective schedule management requires: A. Regular revision to the project charter B. Obtaining sponsor approval for all schedule variances C. Collecting, analyzing, & reporting schedule data D. Team-wide recognition of schedule constraints

C. Collecting, analyzing, & reporting schedule data

A project kickoff meeting for an internally staffed project would normally include all of the following except: A. A written agenda B. Key project stakeholders C. Creation of a project charter D. Discussion of project roles

C. Creation of a project charter

In an analysis of the network logic, positive float exists when: A. Early Start is equal to Late Start B. Early Start is later than Late Start C. Early Start is earlier that Late Start D. Early Start is later than Early Finish

C. Early Start is earlier that Late Start

Resource leveling will often: A. Have little to no effect of individual activity durations B. Have little to no effect on the overall project duration C. Increase the most likely duration of the project D. Increase the most likely project cost

C. Increase the most likely duration of the project

When the project outcomes are poorly defined, the project team tends to: A. Grow larger B. Grow smaller C. Lose focus D. Gain Cohesiveness

C. Lose focus

Which scheduling technique uses multiple estimates? A. Gantt/Bar Charts B. Precedence Diagramming Method C. Program Evaluation & Review Technique D. Critical Path Analysis

C. Program Evaluation & Review Technique

The primary purpose of the project plan is to: A. Ensure that the project's cost and schedule targets will be met B. Is the same as the performance measurement baseline C. Provide a road map for implementing the project D. Document the major technical alternatives considered

C. Provide a road map for implementing the project

Better teamwork can be encouraged by: A. Rewarding top individual performers B. Giving individuals the assignments they want C. Rewarding desired group behavior D. Comparing the current team to previous teams

C. Rewarding desired group behavior

The main differences between a risk and a problem is that: A. Risks are more likely to cause project failures B. Risks cost more to respond to C. Risks are always in the future D. Risks cannot be ignored

C. Risks are always in the future

Which option is most likely to contribute to project success? A. A detailed organization chart B. A full-time project manager C. Team members with well-defined roles D. Detailed specifications

C. Team members with well-defined roles

Which item is least likely to require interpretation by a qualified legal expert? A. Copyrights B. Contracts C. Technical Standards D. Government Regulations

C. Technical Standards

The project's communication requirements are most likely to be affected by: A. Which word processing software is used B. The installation of engineering workstations C. The biases of the stakeholders D. the use of computer-aided design tools

C. The biases of the stakeholders

Project managers use written correspondence (i.e., delivered on paper or via email rather than spoken) to ensure their message is: A. Grammatically correct B. Memorable C. Clearly conveyed D. Delivered promptly

Clearly conveyed

Effective schedule management requires: A. Regular revisions to the project charter B. Obtaining sponsor approval for all schedule variances C. Collecting, analyzing, & reporting schedule data D. Team-wide recognition of schedule constraints

Collecting, analyzing, & reporting schedule data

Effective schedule management requires: A. Regular revisions to the project charter B. Obtaining sponsor approval for all schedule variances C. Collecting, analyzing, and reporting schedule data D. Team-wide recognition of schedule constraints

Collecting, analyzing, and reporting schedule data

When the scope is poorly defined or poorly understood, there is a greater-than-normal need for: A. A larger-than-normal project team B. Communication with the stakeholders C. Daily reporting of actual expenditures D. The use of automated scheduling tools

Communication with the stakeholders

Actual Cost of Work Performed (ACWP) Budgeted Cost of Work Scheduled (BCWS) Budgeted Cost of Work Performance (BCWP) If Activity A has ACWP = 400, BCWP = 300, & BCWS = 350, Activity A is: A. Complete & Under Budget B. Complete & over budget C. Not yet complete and behind schedule D. Not yet complete

Complete & over budget

Project Management

Concerned with the application of methods, tools, techniques and competencies to a project to achieve goals

All of the following are tools or techniques used in choosing a seller except: A. Bidders conference B. Contract negotiation C. Weighting system D. Independent estimates

Contract negotiation

In the project context, measuring results and taking corrective action is called: A. Coordination B. Control C. Synergy D. Feedback

Control

Strategy Alignment

Convey the organizations vision and strategy into project goals and program benefits

All of the following describe an aspect of product-scope except: A. Cost B. Functionality C. Features D. Characteristics

Cost

All of the following describe an aspect of the product-scope except: A. Cost B. Functionality C. Features D. Characteristics

Cost

Which contract type has the greatest cost risk for the buyer? A. Cost-Plus-Fixed-Fee (CPFF) B. Cost-Plus-Incentive-Fee (CPIF) C. Firm-Fixed-Price (FFP) D. Fixed-Price-Incentive-Fee (FPIF)

Cost-Plus-Fixed-Fee (CPFF)

Process of crashing

Crashing is done by increasing the resources to the project, which helps make tasks take less time than what they were planned for.

A project kickoff meeting for an internally staffed project would normally include all of the following except: A. A written agenda B. Key project stakeholders C. Creating of a project charter D. Discussion of project roles

Creating of a project charter

Project objectives should be defined through consultation with the: A. Customer B. Board chair C. Project engineer D. Senior team lead

Customer

Fast-tracking involves: A. Minimizing risk through the use of Monte Carlo schedule simulations B. Meeting schedule commitments by doing things right the first time C. Working overtime with appropriate compensation D. A greater chance of rework

D. A greater chance of rework

Project management is: A. A large number of related activities grouped into stages B. Scheduling activities that support business objectives C. A system of interconnected processes that occur once in each project D. An effective approach to developing new products and services

D. An effective approach to developing new products and services

The primary reason for documenting project success criteria is to: A. Ensure that the specifications are correct B. Guide the project through its early phases C. Give the project manager a 'stretch goal' D. Determine how successful the project was

D. Determine how successful the project was

Planning includes all of the following except: A. Establishing procedures to support the project B. Selecting project approaches or strategies C. Deciding how to monitor and control work D. Determining which work-items have been completed

D. Determining which work-items have been completed

The range of time between an activity's early finish date and its late finish date is called: A. Expected duration B. Non-productive time C. The most likely delay D. Float or slack

D. Float or slack

Which type of behavior from the project manager is most likely to help produce a successful project? A. Communicates on the basis of "need to know." B. Is pessimistic to keep expectations low C. Consistently supports the majority view D. Listens carefully to others

D. Listens carefully to others

All of the following would normally be part of the support provided by the permanent (stationary) organization except: A. Issuing a policy on project management governance B. Providing staff to the project C. Conducting an audit of the project D. Preparing a detailed plan for the project

D. Preparing a detailed plan for the project

Which scheduling technique is most appropriate when a project has many activities durations with a wide range of possible outcomes? A. Critical Path Method B. Flowchart Analysis C. Ishikura Diagramming D. Program Evaluation & Review Technique

D. Program Evaluation & Review Technique

When a project's outcomes include organizational change, the effect of the change: A. Is not the concern of the project manager B. Can be minimized through the use of automated scheduling tools C. Will typically last 6-8 months after the end of the project D. Should generally be a consideration when making project decisions

D. Should generally be a consideration when making project decisions

All of the following would normally be included as part of the documentation for a preliminary cost estimate except: A. The technique used to develop the estimate B. The expected accuracy of the estimate C. A description of what is being estimated D. The budgeted cost of work performed

D. The budgeted cost of work performed

Which individual or group is most directly responsible for ensuring that the project's results satisfy the customer? A. The project team as a whole B. Subject matter experts assigned to the project C. Top management of the project manager's organization D. The project manager

D. The project manager

Which statement best describes one of the most distinctive characteristic of projects? A. They are less than a year in duration B. They require specialized quality management techniques C. They are ongoing in nature D. They are time-limited

D. They are time-limited

The foundation for building a project plan is the: A. Schedule B. Budget C. Quality level D. Work breakdown structure

D. Work breakdown structure

Risks are prioritized in order to: A. Test the team's risk tolerance B. Assign a risk owner to accepted risks C. Decide which risks to respond to D. Calculate the correct values for risk triggers

Decide which risks to respond to

The primary reason for documenting project success criteria is to: A. Guide the project through its early phases B. Determine how successful the project was C. Ensure that the specifications are correct D. Give the project manager a "stretch goal

Determine how successful the project was

Project planning includes all of the following except: A. Establishing procedures to support the project B. Selecting project approaches or strategies C. Deciding how to monitor and control work D. Determining which work-items have been completed

Determining which work-items have been completed

Efficiency means to: A. Do things the right way B. Have fewer meetings in order to have more time for work C. Do the right things D. Expedite the schedule by working overtime

Do things the right way

In an analysis of the network logic, positive float exists when: A. Early Start (ES) is equal to Late Start (LS) B. Early Start (ES) is earlier than Late Start (LS) C. Early Start (ES) is later than Late Start (LS) D. Early Start (ES) is equal to Early Finish (EF)

Early Start (ES) is earlier than Late Start (LS)

Strategic Plans

Encompass long-term visions and mid/short-term strategies aligned with: mission, quality policy and corporate values of organization.

The range of time between an activity's early finish and its late finish date is called: A. Expected duration B. Non-productive time C. The most likely delay D. Float or slack

Float or slack

The range of time between an activity's early finish date and its late finish date is called: A. Expected Duration B. Non-productive time C. The most likely delay D. Float or slack

Float or slack

During which state of team development do team members typically feel both excitement and anxiety? A. Forming B. Storming C. Norming D. Performing

Forming

A key team member has been assigned to another project. Which of the following is the least appropriate response? A. Assesses your ability to complete the project with the remaining staff B. Reassign the person's work to another team member C. Give poor evaluations to the remaining staff so that they won't be reassigned D. Identify options for dealing with the loss

Give poor evaluations to the remaining staff so that they won't be reassigned

Describe the purpose of crashing

Greatest schedule compression for least cost or deduce project duration

Project stakeholders A. Are limited to the project manager, the customer, and the sponsor B. Are interested parties outside the performing organization C. Have needs that should be identified and considered D. All share a common desire to see the project completed successfully

Have needs that should be identified and considered

Which of the following is most likely to be a characteristic of an effective project manager? A. Avoidance of uncertainty B. Delegation of major responsibilities C. Honesty & integrity D. Panic in response to stress

Honesty & integrity

Which of the following is the most important factor to consider in deciding whether to use a fixed-price (lump-sum) contract or a cost-reimbursable one? A. How well defined the scope is B. The expected duration of the project C. The expected value of the contract D. Relevant environmental regulations

How well defined the scope is

Stakeholder analysis includes: A. Clarifying product component interactions B. Discovering risk-strategy linkages C. Identifying communication needs D. Documenting contractual requirements

Identifying communication needs

Stakeholder analysis includes: A. Clarifying product component interactions B. Discovering risk-strategy linkages C. Identifying communications needs D. Documenting contractual requirements

Identifying communications needs

All of the following are approaches to mitigating risks except: A. Revising scope B. Obtaining insurance against loss C. Identifying project risks D. Developing contingency plans

Identifying project risks

Reviewing problems that occurred on previous projects can be most helpful in: A. Avoiding risks B. Identifying risks C. Prioritizing risks D. Monitoring risks

Identifying risks

When there is a complex message that could easily be misunderstood, the most effective medium to use is: A. In-person contact B. A written memo reviewed by a colleague C. Email D. Tele-conferencing

In-person contact

Strategy Competence

Includes: process of understanding the organizational environment, developing the desired state of benefits, & making the right section of projects and/or programs within a portfolio

Resource leveling will often: A. Increase the most likely project cost B. Increase the most likely duration of the project C. Have little or no effect on individual activity durations D. Have little or no effect on the overall project duration

Increase the most likely duration of the project

Resource leveling will often: A. Increase the most likely project cost B. Increase the most likely duration of the project C. Have little or no effect on individual activity durations D. Have little or no effect on the overall project durations

Increase the most likely duration of the project

"Fast-tracking" involves: A. Minimizing risk through the use of Monte Carlo schedule simulations B. Meeting schedule commitments by doing things right the first time C. Working overtime with appropriate compensation D. Increased risk due to a greater chance of rework

Increased risk due to a greater chance of rework

In identifying possible solutions to problems, you should do all of the following except: A. Involve only those team members with relevant expertise B. Stimulate as many ideas as possible C. Define metrics to evaluate the merits of ideas D. Rely as much on intuition as on logic

Involve only those team members with relevant expertise

Project management is most appropriate for any group of activities that: A. Exceeds 160 hours of effort B. Requires planning and control C. Requires specialized scheduling tools D. Is intended to accomplish something new

Is intended to accomplish something new

Which of the following statements about project management success is true? A. It is equivalent to product success B. It is possible even if the project is cancelled C. It is defined by the project team D. It is defined by the project customer

It is possible even if the project is cancelled

Communication planning involves determining the information needs of the: A. Potential contractors B. Main customer C. Project planners D. Key stakeholders

Key stakeholders

Which of the following stakeholders is least likely to influence a project? A. Project funder B. Project manager C. Customer representative D. Labor union president

Labor union president

Which of the following is most likely to be included in a project closeout report? A. Lessons learned B. Accepted risks C. WBS dictionary D. Design alternatives

Lessons learned

Which type of behavior from the project manager is most likely to help produce a successful project? A. Communicates on the basis of "need to know" B. Is pessimistic to keep expectations low C. Consistently supports the majority view D. Listens carefully to others

Listens carefully to others

When the project outcomes are poorly defined, the project team tends to: A. Grow larger B. Get smaller C. Lose focus D. Gain cohesiveness

Lose focus

Contingency allowances should be: A. Made for both cost and schedule B. Large enough to guarantee that all project objectives will be met C. Used only on large projects D. Established as soon as the project has been approved

Made for both cost and schedule

All of the following are contract types except: A. Cost reimbursable B. Make or buy C. Re-measurable D. Unit price

Make or buy

An effective project manager should be able to: A. Write an exciting recruiting ad B. Manage conflict C. Design a career ladder D. Criticize team members without hurting their feelings

Manage conflict

All of the following would generally be considered to be a characteristic of a project except: A. An established objective B. A definite end C. Interrelated tasks D. Performed by internal staff

Performed by internal staff

During which stage of team development is the team fully functional? A. Forming B. Storming C. Norming D. Performing

Performing

The project baselines include the original project plan: A. Less any rework B. Less any activities skipped C. Plus approved changes D. Plus proposed changes

Plus approved changes

All of the following wold normally be part of the support provided by the permanent (stationary) organization except: A. Issuing a policy on project management governance B. Providing staff to the project C. Conducting an audit of the project D. Preparing a detailed plan for the project

Preparing a detailed plan for the project

Which approach is most likely to lead to a satisfactory and lasting resolution of the problem? A. Problem solving B. Smoothing C. Withdrawal D. Splitting the difference

Problem solving

Which scheduling technique uses multiple estimates? A. Gantt/Bar Charts B. Precedence Diagramming Method C. Program Evaluation & Review Technique D. Critical Path Analysis

Program Evaluation & Review Technique

Which scheduling technique is most appropriate when a project has many activity durations with a wide range of possible outcomes? A. Critical Path Method B. Flowchart Analysis C. Ishikawa Diagramming D. Program Evaluation and Review Technique

Program Evaluation and Review Technique

The series of steps used to help ensure proper definition of the product-of-the-project is generally referred to as the: A. Project execution cycle B. Project funding cycle C. Project implementation cycle D. Project life-cycle

Project life-cycle

On most projects, most of the time, the project plan is developed by the: A. Senior executives B. Customer working alone C. Project manager working alone D. Project management team

Project management team

Adherence to contractual requirements is the responsibility of the: A. Project manager B. Functional manager C. Director of Project Management D. Contracting team member

Project manager

Primary responsibility for quality in a project rests with the: A. Executive sponsor B. Senior project engineer C. Quality department manager D. Project manager

Project manager

Gantt charts (bar charts) are generally better than network diagrams for showing: A. Activity dependencies B. Logical relationships C. Project progress D. Resource tradeoffs

Project progress

Which of the following documents would be most useful in determining when project team members will be available to work on other projects? A. Communications plan B. Project schedule C. Product requirements D. Work breakdown structure

Project schedule

Explain the difference between projects & operations?

Projects have a fixed budget, while operations have to earn a profit to run the business Projects are executed to start a new business objective & terminated when it's achieved, while operations does not produce anything new and is ongoing

The primary purpose of the project plan is to: A. Ensure that the project's cost and schedule targets will be met B. Document the performance measurement baseline C. Provide a road map for implementing the project D. Document the major technical alternatives considered

Provide a road map for implementing the project

Screening (scoring) systems used to evaluate potential sellers typically include all of the following except: A. Quantitative criteria B. Qualitative criteria C. Weights for each criterion D. Range estimates

Range estimates

Resource leveling will normally cause all of the following except: A. A loss of scheduling flexibility B. Delay of the planned completion date C. Reduced schedule risk D. Reduced demand for overtime

Reduced schedule risk

"Fast-tracking" is a method for: A. Monitoring the state of the network logic B. Reducing the project's duration C. Increasing stakeholder participation D. Linking project communications

Reducing the project's duration

Cost and schedule risk can be directly mitigated through the use of: A. Simulations B. Reserves C. Decision trees D. Status reports

Reserves

A document that is used to clarify roles and responsibilities is called a: A. Responsibility clarification table B. Responsibility identification chart C. Responsibility assignment matrix D. Responsibility allocation list

Responsibility assignment matrix

A good listener: A. Restates some of the tings said to confirm understanding B. Finishes the speaker's sentences to save time C. Takes copious notes to demonstrate the importance of what the speaker is saying D. Nods frequently to show interest and enthusiasm

Restates some of the tings said to confirm understanding

Better teamwork can be encouraged by: A. Rewarding top individual performers B. Giving individuals the assignments they want C. Rewarding desired group behavior D. Comparing the current team to the previous teams

Rewarding desired group behavior

The main difference between a risk and a problem is that: A. Risks cause project failure B. Risks are always in the future C. Risks cost more to respond to D. Risks cannot be ignored

Risks are always in the future

The main difference between a risk and a problem is that: A. Risks cause project failures B. Risks are always in the future C. Risks cost more to respond to D. Risks cannot be ignored

Risks are always in the future

Negotiation is when two or more parties are trying to reach as agreement that: A. Satisfied both their interest, at least to some extent B. Minimizes project delays C. Ensures a clear win for one of them D. Exceeds their goals

Satisfied both their interest, at least to some extent

Negotiation is when two or more parties are trying to reach an agreement that: A. Satisfies both their interests, at least to some extent B. Minimizes project delays C. Ensures a clear win for one of them D. Exceeds their goals

Satisfies both their interests, at least to some extent

Most program managers manage by focusing on: A. The activities of the program management office B. The detailed work-items of the projects in their program C. The management styles of the project managers who report to them D. Selected critical elements of the projects in their program

Selected critical elements of the projects in their program

When a project's outcome include organizational change, the effect of the change: A. Is not the concern of the project manager B. Can be minimized through the use of automated scheduling tools C. Will typically last 6-8 months after the end of the project D. Should generally be a consideration when making project decisions

Should generally be a consideration when making project decisions

Which type of behavior from the project manager is most likely to help produce a successful project? A. Shows confidence in team members B. Blames team members for problems C. Makes decisions independently D. Uses the same leadership style in all situations

Shows confidence in team members

Which project activities are most directly affected by the operational business processes of the permanent (stationary) organization? A. Staffing the project B. Developing a project schedule C. Conducting project risk analysis D. Estimating project costs

Staffing the project

If there is a conflict between two team members, the best thing to do is to: A. Wait for the conflict to resolve itself B. Release one of the team members from the project C. Release both of the team members from the project D. Start by talking to each person individually

Start by talking to each person individually

Strategy definition

Strategy competence describes how strategies are understood and transformed into manageable elements using projects.

All of the following are factors in a make-or-buy-analysis except? A. Product requirements B. Sunk costs C. Market conditions D. Cost of managing the purchasing process

Sunk costs

Which of the following is most likely to contribute to project success? A. A detailed organization chart B. A full-time project manager C. Team members with well-defined roles D. Detailed specifications

Team members with well-defined roles

Which item is least likely to require interpretation by a qualified legal expert? A. Copyrights B. Contracts C. Technical standards D. Government regulations

Technical standards

The project's communication requirements are most likely to be affected by: A. Which word processing software is used B. The installation of engineering workstations C. The biases of the stakeholders D. The use of computer-aided design tools

The biases of the stakeholders

All of the following would normally be included as part of the documentation for a preliminary cost estimate except: A. The technique used to develop the estimate B. The expected accuracy of the estimate C. A description of what is being estimated D. The budgeted cost of work performed

The budgeted cost of work performed

Which of the following cannot be determined after performing a forward pass and a backward pass on a network logic diagram? A. The Critical Path B. The expected duration of the project C. The effort required to each activity D. The total float for each activity

The effort required to each activity

Which individual or group is most directly responsible for ensuring that the project's results satisfy the customer? A. The project team as a whole B. Subject matter experts assigned to the project C. Top management of the project manager's organization D. The project manager

The project manager

Which statement best describes one of the most distinctive characteristics of projects? A. They are less than a year in duration B. They are subject to quality control C. They are ongoing in nature D. They are time-limited

They are time-limited

What is the main purpose of a post-project evaluation? A. To determine if the project met it's objectives B. To test the product of the project C. To obtain acceptance of the result from the sponsor D. To measurer the performance of the project management team

To determine if the project met it's objectives

What is the main purpose of a post-project evaluation? A. To determine if the project met its objectives B. To test the product-of-the-project C. To obtain acceptance of the result from the sponsor D. To measure the performance of the project management team

To determine if the project met its objectives

Purpose of crashing

To shorten the duration of a project by reducing the time of one or more tasks.

Which of the following is most important for most project managers? A. To take care to operate within the law B. To know more than one legal system C. To have good knowledge of contract law D. To have good knowledge of commercial law

To take care to operate within the law

Strategy Purpose

To understand the strategy & the strategic processes, and thus enable a certain management perspective ( project, program, or portfolio) to manage their project within the contextual aspects

Scope creep is most likely to result from: A. Too many levels in the WBS B. Unclear product characteristics C. Highly detailed specifications D. Unskilled team members

Unclear product characteristics

By choosing to use a cost-reimbursable contract, the buyer is accepting most of the risk associated with: A. Resource availability B. Schedule delays C. Poor quality D. Under estimates

Under estimates

Project Definition

Unique, temporary, multi-disciplinary and organized endeavor to realize agreed deliverables within predefined requirements and constraints

Which type of behavior from the project manager is most likely to help produce a successful project? A. Uses "business stories" to reinforce important points B. Creates stress to ensure high productivity C. Gives poor evaluations to the remaining staff so that they won't be reassigned D. Identify options for dealing with the loss

Uses "business stories" to reinforce important points

Fixed-price (lump-sum) contracts require that the buyer clearly specify: A. What procedures the seller use to manage the work B. What the seller is to provide C. When each detailed work-item should be completed D. Who may be used to perform the work

What the seller is to provide

The foundation for building a project plan is the: A. Schedule B. Budget C. Quality level D. Work breakdown structure

Work breakdown structure

Which document would have the most detailed description of the work of the project? A. Work breakdown structure B. Milestone chart C. Scope management plan D. Risk response list

Work breakdown structure

Which characteristic is generally the most important for a project manager? A. Has supervisory experience B. Is an expert in the product's subject matter area C. Is profit oriented D. Works well with others

Works well with others

Under normal circumstances, if an activity is on the critical path, the activity's total float, will be: A. Greater than zero B. Zero C. Less than zero D. Unknown

Zero

A probability-impact matrix should be used to prioritize risk when: A. It is difficult to estimate probabilities and impacts precisely B. Management wants to include urgency as part of risk analysis C. The team wants to avoid most risks D. The customer has a high risk tolerance

t is difficult to estimate probabilities and impacts precisely

Project Support Office

temporary or permanent organizational unit that provides a portfolio of services to support project teams that are responsible for a defined group of projects.

Criteria to decide which projects to approve

• Reviews and improves project identification and approval processes • Assesses portfolio value and contribution to strategic priorities through the monitoring and review of key performance indicator measures • Identifies and assigns lessons learned into the project selection, prioritization and portfolio balancing processes

List the steps typically involved in problem solving

∙ Identify the problem ∙ Define the desired end result ∙ Identify the individuals affected by the problem ∙ Identify the individuals who can help with the solution ∙ Identify possible courses of action ∙ Select & apply the best course of action ∙ Follow-up to ensure the problem was solved

List and describe the 4 characteristics of a legal contract

∙ Legal purpose ∙ Offer and Acceptance ∙ Exchange of value ∙ Competent parties

Describe the process of crashing

∙ Obtain crashing cost for each activity (how much will it cost to reduce duration by 1 day) ∙ Limit analysis to activities on the critical path, ∙ Crash lowest crash cost activities first, ∙ Need to recalculate critical path ∙ Crash activities early in project

List 2 examples of support services normally provided by the permanent organization to projects. Explain how each can benefit a project.

∙Any traditional staff function, example: (human resources, contracting, quality, finance, legal, etc..) ∙Any traditional line function example: ( Engineering, manufacturing, sales, etc..)

Explain how projects differ from operations. Give an example of each

∙Projects are temporary ∙ Operations are ongoing ∙ Projects are unique -∙Operations are similar

Provide the formulas for 2 different ways to calculate estimated cost at completion (ECAS) using Earned Value Management variables. Explain when each would be preferred.

▪︎ ECAC = ACWP + (BCWS - BCWP) if no current variances or if no variances expected in remaining work ▪︎ ECAC = BAC/CPI if current variances are expected to continue for the remaining work ▪︎ ECAC = ACWP + New Estimate if current variances indicate unreliability of previous estimates for remaining work ▪︎ ECAC = ACWP + (work remaining)