18 - Practice Exam 4, Lessons 11-14
If you have the completed stakeholder register, what process have you completed? A. Plan stakeholder management B. Management stakeholders C. Identify stakeholders D. Develop project charter
Workbook, Practice Exam 4, page 189, #11 Answer: C The stakeholder register is an output of the "Identify Stakeholders" process.
The deliverables are an output of what process? A. Develop project management plan B. Monitor and control project work C. Perform quality control D. Direct and manage project work
Workbook, Practice Exam 4, page 188, #1 Answer: D Deliverables are an output of the Direct and Manage Project Work process. They will then become an input to the Control Quality process where: -they will be checked for correctness against the requirements -upon verification, the deliverables will become "verified deliverables"
The project is estimated to have a $12,500 variance at completion. The project budget is $75,000 and the estimate to complete the remaining work is $15,750. What are the actual costs of the project to-date? A. Unable to determine B. $59,250 C. $62,500 D. $46,750
Workbook, Practice Exam 4, page 188, #2 Answer: D A $12,500 variance at completion (VAC) tells us that the project is estimated to come to $12,500 under budget; remember that a positive VAC is good (under budget) and a negative VAC is bad (over budget). Since the budget is $75,000 and we are estimated to come in $12,500 under budget, the EAC is $75,000 - $12,500 = $62,000 If the EAC is $62,500 and the ETC is $15,750 (given to you in the question) then $62,500 - $15,750 = $46,750, which is the AC of the project to date
You are three months into a 6-month, $195,000 project. Invoices paid to date are $37,500 and the planned costs at three months were $75,000. What is the schedule variance? A. $97,500 B. $22,500 C. $37,500 D. $25,000
Workbook, Practice Exam 4, page 188, #3 Answer: B To calculate the SV we must use the PMBOK formula SV = EV - PV PV is given to us; $75,000 EV is not given to us, so we must calculate the EV by using the PMBOK formula: EV = BAC x % Complete $195,000 x 50% = $97,500 (note that the % Complete comes from the question as well; 3 months / 6 months = 50% Complete) Now that we have calculated the EV, we can use the SV formula above which gives us $97,500 - $75,000 = $22,500
You are three months into a 6-month, $195,000 project. Invoices paid to date are $37,500 and the planned costs at three months were $75,000. What is the cost performance index? A. 0.5 B. $22,500 C. 26% D. 2.6
Workbook, Practice Exam 4, page 188, #4 Answer: D To calculate the CPI we must use the PMBOK formula: CPI = EV / AC ACis provided; $37,500 EV must be calculated EV = BAC x % Complete $195,000 x 50% = $97,500 (The 50% comes from the question; 3 months / 6 months) Now that we have EV, we can use the SPI formula: $97,500 / $37,500 = 2.6
Procurement documents are an output of what process? A. Control procurements B. Plan procurement management C. Conduct procurements D. Define scope
Workbook, Practice Exam 4, page 188, #5 Answer: B The procurement documents are an output of the Plan Procurement Management process. Procurement documents are used to solicit proposals or responses from potential vendors. The procurement documents will be updated to include the executed agreement (or contract) in subsequent procurement processes. Procurement documents can include: -Request for proposal (RFP) -Request for quotation (RFQ) -Invitation for bid (IFB) -Tender notice
You are three months into a 6-month, $195,000 project. Invoices paid to date are $37,500 and the planned costs at three months were $75,000. What is the to-complete performance index? A. 1.625 B. 0.78 C. 0.62 D. 1.25
Workbook, Practice Exam 4, page 188, #6 Answer: C TCPI is calculated as: (Budget at Completion - Earned Value) / (Budget at Completion - Actual Costs) Budget at Completion (BAC) is provided; $195,000 Earned Value (EV) = BAC x % Complete = $97,500 AC is provided; $37,500 ($195,000 - $97,500) / ($195,000 - $37,500) $97,500 / $157,500 = 0.62 This indicates that the project has 38% more money than work remaining (a positive situation).
You have been managing the development project for six months. Upon recent evaluation, you determine that the TCPI is 1.27. which statement is most accurate? A. The project is 27% ahead of schedule B. The project needs to be 27% more efficient with resources C. The project is 27% over budget D. The project is using the resources 27% more efficiently than planned
Workbook, Practice Exam 4, page 188, #7 Answer: B TCPI is an efficiency ratio. A TCPI > 1 indicates that the project is not operating efficiently. The 1.27 indicates that the project needs to be 27% more efficient with resources in order to achieve the budget and work objectives.
The calculated schedule variance on your project is $8,000. Last month it was $10,000, and the month previous it was $18,000. Which statement is most accurate? A. The project is trending under-budget B. The project is trending behind of schedule C. The project is trending ahead of schedule D. The project is trending over budget
Workbook, Practice Exam 4, page 189, #10 Answer: B While the project is not yet behind schedule, the consistently decreasing schedule variance indicates that it is trending towards being behind schedule. A positive schedule variance indicates the project is ahead of schedule, a negative schedule variance indicates the project is behind schedule.
The SPI of your project is 0.8 and your planned value at this point in your project is $125,000. How much value have you earned in your project? A. $100,000 B. $225,000 C. Unable to determine D. $25,000
Workbook, Practice Exam 4, page 189, #12 Answer: A The formula for schedule performance index (SPI) is: SPI - earned value (EV) / planned value (PV). We are provided with: SPI = 0.8 PV = $125k SPI x PV = EV 0.8 x $125k = $100k
Financial databases, lessons learned, issue and defect management databases, and previous project files are all considered components of the: A. Enterprise environmental assets B. Project management office requirements C. Change control processes D. Corporate knowledge base
Workbook, Practice Exam 4, page 189, #13 Answer: D Items listed are considered components of the corporate knowledge base, which is part of the organizational process assets (OPA).
The ratio of earned value to planned value: A. Cost variance B. Cost performance index C. Schedule performance index D. To-complete performance index
Workbook, Practice Exam 4, page 189, #14 Answer: C The ratio of earned value (EV) to planned value (PV) is the formula for the schedule performance index (SPI). SPI = EV / PV
The cost variance on your project is ($18,000) and your earned value is $92,000. What are your actual costs? A. $110,000 B. $74,000 C. Unable to determine D. $98,000
Workbook, Practice Exam 4, page 189, #15 Answer: A The formula for cost variance (CV): CV = earned value (EV) - actual costs (AC) $92k + $18k = $110k The negative costs variance indicates that your project is currently over budget
Which statement is least accurate regarding the PDM: A. The PDM is the same thing as the AON B. The PDM is an output of sequencing activities C. The PDM only displays finish-to-start relationships D. The PDM is a type of schedule network diagram
Workbook, Practice Exam 4, page 189, #8 Answer: C PDM is the precedence diagramming method, a way of constructing the project schedule to visually display the relationships between the activities. A PDM can display all types of relationships: finish-to-start, start-to-start, finish-to-finish, start-to-finish. The alternate name for a PDM diagram is an activity-on-node (AON) diagram.
The $75,000 project is 80% complete and has a cost variance of ($12,000). Which statement is most accurate? A. The project is over budget B. The project is behind schedule C. The project is under budget D. The project will not meet the project budget objectives
Workbook, Practice Exam 4, page 189, #9 Answer: A A negative cost variance indicates that the project is currently over budget. Although it is currently over budget it does not necessarily mean that the project will not meet budget objectives, as corrective actions may be pursued.
The documented start and finish dates of activities, actual costs and durations, percent of work physically completed would all be considered: A. Work performance information B. Work performance data C. Work performance inputs D. Work performance reports
Workbook, Practice Exam 4, page 190, #16 Answer: B The items listed represent work performance data, which is an output of Direct and Manage Project Work. Work performance data can be thought of as "raw" data. Work performance data is an input to multiple Monitoring and Controlling processes where it will be analyzed. The output from those processes will be work performance information. The work performance information will be an input to the Monitor and Control Project Work process where the output will be the work performance reports. Data > Information > Reports
The difference between the project schedule and the schedule baseline could best be described as: A. The project schedule is updated throughout the project but the schedule baseline is only updated when there's an approved changed to scope B. The terms are synonymous C. The baseline is created before the schedule D. The schedule baseline is updated throughout the project and then compared to the project schedule
Workbook, Practice Exam 4, page 190, #17 Answer: A The project schedule is considered the "living" schedule that is updated throughout the project as needed. The schedule baseline is a "frozen" version of the schedule, part of the project management plan, that should only be updated when there is a significant authorized change to scope.
Activity C has a start-to-start relationship with Activity D. Activity C is 12 days and Activity D is 15 days. If the start of Activity D gets delayed by six days, what is the best case duration? A. 27 days B. 15 days C. 21 days D. 33 days
Workbook, Practice Exam 4, page 190, #18 Answer: C The start-to-start relationship indicates that Activity D can start at the same time, or anytime thereafter, as Activity C, thus implying that they can happen concurrently. To answer the question, add the time of the six day delay to the duration to Activity D, which brings the total duration to 21 days.
A review of the effectiveness of risk responses in dealing with the identified risks and their root causes. A. Risk audit B. Risk response review C. Risk monitoring and controlling D. Risk evaluation
Workbook, Practice Exam 4, page 190, #19 Answer: A A risk audit, a tool/technique from the Control Risks process, is a structured review of the effectiveness of the risk responses.
Determining if the remaining reserve is adequate by evaluating the amount of contingency reserves remaining to the amount of risk remaining. A. Contingency evaluation B. Monitoring and controlling C. Reserve analysis D. Management reserve consideration
Workbook, Practice Exam 4, page 190, #20 Answer: C A reserve analysis, a fairly common Tool/Technique in the PMBOK Guide, refers to an evaluation of the amount of contingency time and money compared to the amount of risk (or uncertainty) remaining on the project. Theoretically, projects are risk-declining and if the amount of risk decreases, the amount of reserve should decrease accordingly, with an extra funding being released back to the organization.
The validate scope process could best be described as: A. Securing customer acceptance of the completed deliverables B. Evaluating the requirements for completeness C. Reviewing the scope statement with the customer D. Performing quality control activities on the completed deliverables
Workbook, Practice Exam 4, page 190, #21 Answer: A The validate scope process, in the monitoring and controlling process group, is concerned with getting the customer or requesting party's acceptance of completed deliverables. The control quality process (also known as QC) is performed prior to the validate scope process. Deliverables are checked internally (QC) before being given to the customer for acceptance.
Identified upper and lower measurements that established limits that if the repeated results fall within those limits, the process is considered stable: A. Tolerances B. Thresholds C. Control limits D. Appetite
Workbook, Practice Exam 4, page 190, #22 Answer: C Control limits are represented on a control chart, typically three standard deviations from the mean. If results of any type of output sampling fall outside of those control limits, the process is considered unstable.
Requirements documentation and the requirements traceability matrix are: A. Both outputs of the Collect Requirements Process B. Both outputs of the Define Scope Process C. Outputs of both Plan Scope Management and Plan Requirements Management D. Both outputs of Create Scope Basline
Workbook, Practice Exam 4, page 190, #23 Answer: A The requirements documentation and requirements traceability matrix are both outputs of the Collect Requirements process in the project scope management knowledge area/planning process group.
The results of the quality control activities that are fed back to the QA process for use in re-evaluating and analyzing the quality standards and processes: A. Quality metrics B. Quality results C. Quality measurements D. QC data
Workbook, Practice Exam 4, page 191, #24 Answer: C The quality measurements are an output of the Control Quality (QC) process. These are the actual measurements resulting from the QC activities - for example, defect rate, error rate, etc. These measurements are evaluated against the quality metrics that were identified in the Plan Quality Management process, in QA to determine if the right processes and standards are in place.
A comparison of the earned value and the planned value: A. Cost variance B. Schedule performance index C. Schedule variance D. Cost performance index
Workbook, Practice Exam 4, page 191, #25 Answer: B Schedule Performance Index (SPI) is a comparison of earned value (EV) to planned value (PV). The SPI formula is: SPI = EV / PV
The activity attributes are to the activity list as what is to the WBS? A. WBS dictionary B. WBS details C. Work package attributes D. Work descriptions
Workbook, Practice Exam 4, page 191, #26 Answer: A The activity attributes provide the back-end details related to each of the activities on the activity list. The WBS dictionary provides the back-end details of the work packages contained within the WBS.
The value of the work already completed on the project: A. Earned value B. Estimate to complete C. Estimate at completion D. Planned value
Workbook, Practice Exam 4, page 191, #27 Answer: A The value of the work already completed on the project is the "earned value." Earned Value (EV) Budget at Completion (BAC) EV = BAC x % Complete Percentage complete may be either time-based (i.e. 3 weeks into a 6-week project would be 50%) or effort-based
The authorized budget assigned to the work that will be accomplished as of the status date: A. Actual costs B. Earned value C. Estimate to complete D. Planned value
Workbook, Practice Exam 4, page 191, #28 Answer: D Planned value (PV) is the planned value of the work to be accomplished by the status date. PV at the end of the project is equal to the budget at completion (BAC).
Which of the following is not a component of the scope baseline? A. Scope statement B. Work breakdown structure C. Scope deliverables D. Work breakdown structure dictionary
Workbook, Practice Exam 4, page 191, #29 Answer: C The scope baseline includes the scope statement (an output of the Define Scope process), the work breakdown structure (WBS), and the WBS dictionary.
Which output is completed first: the stakeholder register or the stakeholder management plan? A. The stakeholder register B. The stakeholder management plan C. The are both completed simultaneously D. There is no relationship between the two
Workbook, Practice Exam 4, page 191, #30 Answer: A In the Initiating process group, the stakeholder register is an output of the Identify Stakeholders process. Using the information in the stakeholder register, the stakeholder management plan describes how the stakeholders will be involved in the project and how to maintain engagement and increase involvement by those stakeholders.
The schedule forecasts will be an output of what process? A. Control schedule B. Forecast schedule C. Develop schedule D. Develop project management plan
Workbook, Practice Exam 4, page 191, #31 Answer: A In the Control Schedule process within the Monitoring and Controlling process group, the schedule forecast will be created based upon a variance analysis of actual to planned activities.
At six months in, your $785,000 project is 35% complete and the TCPI is 0.74 and you've spent $95,000 to date. What is the earned value of the project? A. $595,000 B. $580,900 C. $690,000 D. $274,750
Workbook, Practice Exam 4, page 191, #32 Answer: D To calculate earned value (EV) take the budget at completion (BAC) and multiply it by the percent complete. EV = BAC x % Complete $785k x 0.35 = $274,750 Please not that the TCPI and the actual costs (AC) were not needed in this problem and were simply noise.
You have secured written authorization for you project. What process has been completed? A. Develop project charter B. Develop project management plan C. Direct and manage project work D. Document project authorization
Workbook, Practice Exam 4, page 192, #33 Answer: A The objective of the Develop Project Charter process is to secure written authorization of the project, as demonstrated by the executed project charter.
Which statement is most accurate? A. The define scope process precedes the create work breakdown structure process B. The WBS must be complete in order to define scope C. The scope baseline is an output of the define scope process D. The scope statement is produced after the WBS
Workbook, Practice Exam 4, page 192, #34 Answer: A There are four processes within the Project Scope Management Knowledge Area / Planning Process Group that are done sequentially: Plan Scope Management, Collect Requirements, Define Scope, and Create WBS. In order to develop the WBS, the scope statement must be complete. The scope statement is an output of the Define Scope process and as such, precedes the development of the WBS.
You have completed your activity list and activity attributes. What process have you completed? A. Develop Schedule B. Create WBS C. Define activities D. Scope decomposition
Workbook, Practice Exam 4, page 192, #35 Answer: C The output of the Define Activities process includes the activity list, the activity attributes, and the milestone list.
The project has earned value of $87,750. Costs-to-date have been, $110,000, and the budget is $195,000. What percent complete is this project? A. 80% B. 45% C. Unable to determine D. 56%
Workbook, Practice Exam 4, page 192, #36 Answer: B Earned value (EV) is calculated as: EV = Budget at Completion (BAC) x Percent Complete As we are solving for Percent Complete, we would divide the EV of $87,750 by the BAC of $195,000. $87,750 / $195,000 = 0.45
Your project has earned value of $300,000 despite invoices totaling $325,000. You've calculated your TCPI as 1.14. What is your budget? A. $500,000 B. $325,000 C. $342,000 D. $370,500
Workbook, Practice Exam 4, page 192, #37 Answer: A The formula for TCPI (to-compete performance index) is: (Budget at Completion - Earned Value) / (Budget at Completion - Actual Costs) (BAC - EV) / (BAC - AC) (BAC - $300k) / (BAC - $325k) = 1.14 ($500k - $300k) / ($500k - ($325k) = 1.14 $200k / $175k = 1.4
Which statement is most accurate: A. The cost estimates are the project budget B. The cost estimates, applied across the schedule, create the budget C. The project budget is developed first and then decomposed into cost estimates D. The budget may be progressively elaborated whereas the cost estimates must be determined completely at the start of the project.
Workbook, Practice Exam 4, page 192, #38 Answer: B There are two processes that lead to the cost baseline: Estimate Costs and Determine Budget. First costs are estimated across the project, in as much detail as is feasible for the particular stage of the project. Those costs are then applied across the schedule to determine the budget and create the cost baseline. Both the project budget and the cost estimates may be progressively elaborated.
The scope baseline is an output of what process? A. Plan scope management B. Define scope C. Collect requirements D. Create WBS
Workbook, Practice Exam 4, page 192, #39 Answer: D There are three scope planning processes that lead to the development of the scope baseline: Collect requirements - outputs are the requirements documentation and the requirements traceability matrix Define scope - output is the scope statement Create WBS - output is the scope baseline (consisting of the scope statement, the WBS, and the WBS dictionary)
The test plan design must be approved by the project engineer prior to implementation. This represents what type of dependency? A. Hard logic B. Preferential C. External D. Manatory
Workbook, Practice Exam 4, page 192, #40 Answer: B A preferential dependency (also known as a preferred, discretionary, or soft logic dependency) is based on past experience, best practice, industry, or organizational standard. Given that there is no physical dependency on the design being approved prior to being implemented, meaning the design could be physically implemented without the approval, it is considered preferential. Do not let the word "must" through you off. On these dependencies, you will be looking for a physical limitation to indicate a mandatory/hard logic dependency.
Based on the information contained in this graphic, what is the status of the project? INSERT IMAGE A. Under budget but trending over budget B. Behind schedule and under budget C. Ahead of schedule and over budget D. Over budget and behind schedule
Workbook, Practice Exam 4, page 193, #41 Answer: D While evaluating a project's status using an Earned Value Management (EVM) chart, you will always compare Actual Cost (AC) to Earned Value (EV) to determine the status of the budget and Planned Value (PV) (the blue line) to Earned Value (EV) to determine the status of the schedule. Given that the EV is less than the AC (we've earned less than we've spent), the project appears to be over budget. Given that the EV is also less than the PV (we've earned less than we've planned to have earned at this point), the project appears to be behind schedule. A project that is progressing well will have an EV the same as, or higher than, the AC and the PV.
The project has earned value of $87,750. Costs-to-date have been $110,000, and the budget is $195,000. What is the status of the project? A. Appears ahead of schedule B. Appears over budget C. Appears both over budget and behind schedule D. Unable to determine based on information provided
Workbook, Practice Exam 4, page 193, #42 Answer: B Using the information provided, you can only determine the status of the budget: Cost Variance (CV) = Earned Value (EV) - Actual Costs (AC) $87,750 - $110k = ($22,250) A negative cost variance indicates that the project is currently $22,250 over budget.
Which statement about the deliverables is most accurate A. Deliverables are created through the scope processes B. Deliverables are evaluated through the validate scope process prior to final review during the control quality process C. Deliverables are verified once they have gone through the control quality process D. Accepted deliverables will be provided to the requesting party for verification in the validate scope process.
Workbook, Practice Exam 4, page 193, #43 Answer: C The deliverables are an output of the Direct and Manage Project Work process. Upon completion, they are first evaluated by the Control Quality process, where they now become "verified" deliverables. The verified deliverables are an input to the Validate Scope process where they now become "accepted" deliverables. Deliverables > Verified Deliverables > Accepted Deliverables
Which statement is most accurate regarding resource leveling and resource smoothing? A. Resource smoothing must occur before resource leveling B. Resource leveling may alter the critical path whereas resource smoothing will not C. Resource smoothing may alter the critical path whereas resource leveling will not D. The terms smoothing and leveling are synonymous
Workbook, Practice Exam 4, page 193, #44 Answer: B There are two resource optimization techniques: resource leveling and resource smoothing. Resource leveling is always done first and may alter the critical path. Resource smoothing is done after leveling and uses any float that may be available to "smooth out" the level of effort. As such, you may not be able to optimize all resources when you smooth. Resource smoothing does not alter the critical path.
Your project has a schedule variance of $2,750 and a cost variance of $7,950. What statement best describes the status of your project? A. The project is under budget and behind schedule B. The project is over budget and behind schedule C. The project is over budget and ahead of schedule D. The project is under budget and ahead of schedule
Workbook, Practice Exam 4, page 193, #45 Answer: D A positive schedule variance (SV) indicates that the earned value (EV) of the project is greater than the planned value (PV), indicating that the project is ahead of schedule. A positive cost variance (CV) indicates that the earned value (EV) of the project is greater than the actual costs (AC), indicating that the project is under budget.
Based on the information in the graphic, what is the current status of the project? INSERT IMAGE A. The project is ahead of schedule and over budget B. The project is behind schedule and under budget C. The project is over budget and behind schedule D. The project is under budget and ahead of schedule
Workbook, Practice Exam 4, page 194, #46 Answer: D Using the Earned Value Management (EVM) graphic, and evaluating status compared to the Earned Value (EV) of the project, you can determine: The project is under budget as the EV is greater than the Actual Costs (AC). The project is ahead of schedule as the EV is greater than the Planned Value (PV) (blue line)
Based on the graphic, if there's a 35% probability that Option A will occur, what is the value of Option B? INSERT IMAGE A. $37,800 B. $24,570 C. $37,700 D. $58,000
Workbook, Practice Exam 4, page 194, #47 Answer: B If there is a 35% probability that Option A will occur, there must be a 65% probability that Option B will occur. For the expected monetary value (EMV) calculation, if there is a 10% probability of $18k, there is a 90% probability of $40k. 0.9 x $40k = $36k 0.1 x $18k = $1,800 EMV = $36k + $1,800 = $37,800 There is only a 65% probability of Option B, so you multiply the $37,800 by the 65% probability: 0.65 x $37,500 = $24,570
An efficiency ratio that compares the work remaining on the project to the funds remaining on the project. A. Schedule performance index B. Planned value C. To-complete performance index D. Cost performance index
Workbook, Practice Exam 4, page 194, #48 Answer: C To-complete performance index (TCPI) is an efficiency ratio, comparing work remaining to funds remaining: TCPI = (Budget at completion - earned value) / (Budget at completion - actual cost)
The difference between the estimate to complete and the estimate at completion forecasts can best be described as: A. Actual cost B. Earned value C. Variance at completion D. Cost variance
Workbook, Practice Exam 4, page 195, #49 Answer: A Estimate to complete (ETC) is the projection of the remaining costs to complete the project. Estimate at completion (EAC) is the projection of overall project spending - including both the actual costs and the estimate to complete.
The costs associated with assessing the quality of a product is considered: A. CMMI B. Cost of conformance C. Cost of nonconformance D. Cost benefit analysis
Workbook, Practice Exam 4, page 195, #50 Answer: B The cost of quality encompasses the cost of conformance and the cost of non-conformance. The cost of conformance is money spent to avoid failures and as such, the costs associated with assessing the quality of the product, would be considered the costs of conformance.
You are evaluating your $89,000 project. The project is estimated to take six months and you have completed month two. After reviewing invoices, you determined that the paid-to-date amount is $27,000. The budget has been allocated as follows: Month 1: $4,000 Month 2: $12,000 Month 3: $23,000 Month 4: $25,000 Month 5: $15,000 Month 6: $10,000 Which statement is most accurate? A. The project is ahead of schedule B. The project is over-budget C. The project is behind schedule D. The variance at completion is negative
Workbook, Practice Exam 4, page 195, #51 Answer: A For this question, you will calculate the following variables: budget at completion (BAC) = $89k. At 33% complete, the calculated Earned Value (EV) is $29,370. The actual costs (AC) are $27k and the planned value (PV) is $16k (the cumulative planned spending of the first two months). Schedule variance (SV) = EV - PV = $29,270 - $16k = $13,370. A positive SV indicates the project is ahead of schedule.
You are a PMP and you are having dinner with a friend to celebrate his new job. Over dinner he tells you that the PMP was a requirement of the job, but that he "fudged" his application knowing that the company didn't verify the information. How do you handle this? A. Do nothing B. Report your friend to PMI C. Report your friend to his employer D. Advise your friend to be honest with his employer
Workbook, Practice Exam 4, page 195, #52 Answer: B Because the PMP is a professional credential, any known violations are to be reported to PMI. If, as a PMP, you do not report the violation, you can be found in violation.
You have completed all of the project deliverables as defined within the project scope statement. As you are working to close the project and distribute the lessons learned and final project report, your manager assigns you to another project. Which statement is most accurate? A. The project is considered closed because of the reassignment and the completed deliverables B. The project is open until all requirements are met C. The sponsor is able to consider the project closed D. The PMO would take over the responsibility of the project
Workbook, Practice Exam 4, page 195, #53 Answer: B A project is not considered complete until all requirements are met, for both the project and the product. Even if your manager re-assigns you, the project is still considered open and should be identified as such, and escalate as appropriate.
The enhancement project is complete and you are compiling your final performance report. The budget was $72,000 and your actual costs were $68,000. Which statement is most accurate? A. Your variance at completion is positive B. You have a positive cost variance C. Your estimate at completion is negative D. Your variance at completion is negative
Workbook, Practice Exam 4, page 195, #54 Answer: A Variance at completion (VAC) is calculated as budget at completion (BAC) minus estimate at completion (EAC). In this case, the project is complete so the EAC is the same as the actual costs (AC). A positive VAC indicates that the project delivered under budget.
The forecasted amount of project spending for the remainder of the project: A. The cost variance B. The estimate to complete C. The estimate at completion D. The variance at completion
Workbook, Practice Exam 4, page 196, #55 Answer: B The estimate to complete (ETC) is the estimated remaining spend, from this point forward. ETC does not include actual costs (AC).
The development project was completed in February. In May, you receive notification from one of the vendors that they did not receive the correct payment. What is the most appropriate action for you to take? A. Re-open the project B. Nothing, as the project is closed C. Refer the project to legal counsel D. Escalate to the CEO
Workbook, Practice Exam 4, page 196, #56 Answer: A Because administrative closure activities were not accurately fulfilled, including full and accurate payment of all invoices, the project must be re-opened. Referring the project to legal counsel and escalation to the CEO would be inappropriate first steps.
Your project team has been in place for seven months. Team members are located in six geographical locations. During team meetings, you find that the members tend to be hesitant to speak up or provide information. In what stage of team development would this team most likely be? A. Performing B. Norming C. Forming D. Storming
Workbook, Practice Exam 4, page 196, #57 Answer: C The stages of team development (known as Tuckman's Ladder) are not time-based stages. Given that the team is virtual and they are hesitant to share information openly, this team is most likely in forming, the first stage of team development.
You are evaluating four vendors with the following bids Vendor A: $33,000 Vendor B: $37,000 Vendor C: $28,000 Vendor D: $31,000 Based on historical information, there is a 70% chance that Vendor A will have a 20% cost overrun. There is a 48% chance that Vendor B will have a 25% cost overrun. There is a 55% chance that Vendor C will have a 40% cost overrun. There is a 30% chance that Vendor D will have a 25% cost overrun. Which vendor is the best option? A. Vendor B B. Vendor C C. Vendor A D. Vendor D
Workbook, Practice Exam 4, page 196, #58 Answer: D To calculate the answer: Vendor A: A 20% cost overrun would be $6,600, multiplied by the 70% probability = $4,620, bringing the total value for Vendor A to $37,620 ($33k + $4,620 = $37,620) Vendor B: A 25% cost overrun would be $9,250, multiplied by the 48% probability = $4,400, bringing the total value for Vendor B to $41,440 ($37k + $4,440 = $41,440) Vendor C: A 40% cost overrun would be $11,200, multiplied by the 55% probability = $6,160, bringing the total value for Vendor C to $34,160 ($28k + $6,160 = $34,160) Vendor D: A 25% cost overrun would be $7,750, multiplied by the 30% probability = $2,325, bringing the total value for Vendor D to $33,325 ($31k + $2,325 = $33,325)
The result is rated on a scale that measures the degree of conformity: A. Variable B. Attribute C. Specific D. Acceptance
Workbook, Practice Exam 4, page 196, #59 Answer: A Variable sampling measures the result on a scale to determine the degree of conformity, versus an attribute sampling which measures the result as either pass or fail.
A source of variation that is not inherent in the system and is not predictable. A. Common B. Random C. Special D. Conditional
Workbook, Practice Exam 4, page 196, #60 Answer: C Special causes of variance are unusual and difficult to predict. Compare special causes of variance to common causes of variance (Also known as random variance), which are predictable variances.
Varying in complexity, these tools aid organizations in ensuring consistency in frequently performed tasks: A. Quality metrics B. Quality diagrams C. Quality checklists D. Quality measurements
Workbook, Practice Exam 4, page 197, #61 Answer: C Quality checklists, an output of the Plan Quality Management process, are useful when individuals are completing the same set of steps repeatedly. Checklists ensure all individuals are consistent in their completion of the steps.
The forecasted estimate at completion is $75,000. You have spent $38,000 to date and have earned value of $46,000. The variance at completion is $9,000. What is the budget at completion? A. $29,000 B. $83,000 C. $84,000 D. $121,000
Workbook, Practice Exam 4, page 197, #62 Answer: C Using the following variables: Estimate At Completion (EAC) = $75k Actual Costs (AC) = $38k Earned Value (EV) = $46k Variance At Completion (VAC) = $9k use the VAC formula to back into the budget at completion (BAC). VAC = BAC - EAC $9k = BAC - $75k $84k = BAC
Which statement is most accurate regarding the control quality process? A. It is a successor to scope definition and scope validation B. It precedes quality assurance and scope validation C. It is a successor to deliverable acceptance D. It precedes plan quality management
Workbook, Practice Exam 4, page 197, #63 Answer: B The Control Quality (QC) process precedes both the Validate Scope process (considered scope verification) and the Perform Quality Assurance (QA) process. QC precedes Validate Scope as deliverables must be checked for correctness before being provided to the customer for acceptance. QC precedes QA as the QC measurements are required in order to perform the quality audits of QA.
The difference between a quality metric and a quality measurement can best be described as: A. A metric describes an attribute whereas a measurement is an actual value B. A metric is an actual value whereas a measurement is how it will be calculated C. A measurement describes an attribute whereas a metric is an actual value D. A measurement is an actual value whereas a metric is how it will be documented
Workbook, Practice Exam 4, page 197, #64 Answer: A A quality metric is the definition of what the team intends to achieve. Quality metrics are an output of the Plan Quality Management process. Quality control measurements are a measurement of the actual results that are being accomplished. Quality control measurements will be an output of the Control Quality (QC) process.
You are calculating the CPI for your project and have the following results: Month 1: 1.10 Month 2: 0.98 Month 3: 0.99 Month 4: 1.09 Month 5: 1.12 Month 6: 1.03 Month 7: 0.97 This could best be described as: A. Random variance B. Special variance C. Abnormal variance D. Controlled variance
Workbook, Practice Exam 4, page 197, #65 Answer: A Given that the variance is consistent and stable without extreme outlying values, this would be considered random (or common) variance. Random variance is normal process variation.
As your project begins producing the XJ9000 component, your QC team is inspecting them to ensure that they each power-on. This is an example of: A. Variance evaluation B. Attribute sampling C. Variable sampling D. Special variance review
Workbook, Practice Exam 4, page 197, #66 Answer: B Because they are testing for a pass/fail result (it either turns on or it doesn't), it would be considered attribute sampling.
Which statement is most accurate regarding tolerances and control limits? A. They are one in the same B. Only control limits can be demonstrated in a control chart C. Tolerances are typically subjective whereas control limits are typically mathematically defined D. Control limits are typically subjective whereas tolerances are typically mathematically defined
Workbook, Practice Exam 4, page 197, #67 Answer: C Both tolerances and control limits can be depicted on a control chart, however, while control limits are typically mathematically defined as three standard deviations from the mean, tolerances are based on preference and are therefore more subjective.
The three key outputs from the control quality process include the following except: A. Verified deliverables B. Quality control measurements C. Validated changes D. Quality metrics
Workbook, Practice Exam 4, page 198, #68 Answer: D Quality metrics are an operational definition of what we intend to achieve, and as such, are an output of the Plan Quality Management process.
Your project has a CPI of 0.98 and a schedule variance of ($12,000). Which statement is most accurate? A. The project is ahead of schedule and over budget B. The project is behind schedule and under budget C. The project is over budget and behind schedule D. The project is under budget and ahead of schedule
Workbook, Practice Exam 4, page 198, #69 Answer: C Because the cost performance index (CPI) is less than one, reflecting that the project has a lower earned value (EV) than actual cost (AC), the project is considered over budget. A negative schedule variance (SV), reflecting that the project has a lower earned value (EV) than planned (PV), indicates that the project is behind schedule.
Which of the following is not one of the seven basic quality tools? A. Pareto chart B. Histogram C. Control chart D. Earned value graph
Workbook, Practice Exam 4, page 198, #70 Answer: D The seven basic quality tools are: Ishikawa (fishbone or cause and effect) diagram, Pareto chart, control chart, histogram, scatter diagram, checksheet, and flowcharts. Earned value graphs are not considered one of the seven basic quality tools.
Which statement most accurately describes a verified deliverable? A. The deliverable has been evaluated through quality control B. The deliverables has been accepted by the customer C. The deliverables has been reviewed through quality assurance D. The deliverables has been checked against the scope statement
Workbook, Practice Exam 4, page 198, #71 Answer: A A verified deliverable is an output of the Perform Quality (QC) process, meaning that the deliverable has been checked for correctness and conformance to requirements.
With your project team, you have identified the need for a workaround. What process are you doing? A. Control risks B. Plan risk responses C. Identify risk D. Risk evaluation
Workbook, Practice Exam 4, page 198, #72 Answer: A Because a workaround is a response to a negative risk that has occurred, not planned in advance, the need for workarounds would be determined in the Control Risks process.
The schedule variance of your project is ($27,000), your actual costs are $82,000, the budgeted value of the work is $92,000, and the budget at completion is $125,000. What is the earned value of the project? A. $55,000 B. $65,000 C. $98,000 D. $43,000
Workbook, Practice Exam 4, page 198, #73 Answer: B Using the following variables: Schedule Variance (SV) = ($27k) Planned Value (PV) = $92k Use the SV formula to back into the earned value (EV) SV = EV - PV ($27k) = EV - $92k $65k = EV
An opportunity is also known as a: A. risk response B. Project risk C. Benefit measure D. Project calculation
Workbook, Practice Exam 4, page 198, #74 Answer: B An opportunity is considered a project risk. An opportunity is an uncertain event that has a positive impact on the project.
The estimate at completion for your project is $179,000 and the estimate to complete the project is $88,500. Which statement is most accurate? A. The cost variance is $90,500 B. The actual costs are $90,500 C. The schedule variance is $90,500 D. The variance as completion is $90,500
Workbook, Practice Exam 4, page 198, #75 Answer: B The difference between the estimate to complete (ETC) and the estimate at completion (EAC) is the actual costs (AC). EAC includes AC, ETC does not. EAC - ETC = AC $179k - $88k = $90,500
