2. KPS WorkBook of Chapters_10Qs_Student_PMBOK6TH

WORKBOOK FOR STUDENT Project Management Framework & Processes Question 1: Which of the following is NOT a characteristic of a project? Constrained by limited resources Planned, executed, and controlled Creates a unique product or service Ongoing and repetitive Question 2: In a kick-off meeting for your project, you provided information to your team members about the different process groups to be followed in the project According to PMI, which are the project management process groups? Conceptualizing, Initiating, Executing, Monitoring and Controlling, and Closing Initiating, Planning, Executing, Monitoring and Controlling, and Closing Initiating, Verifying, Executing, Monitoring and Controlling, and Closing Initiating, Planning, Executing, Controlling, and Administrative Closure Question 3: You are managing the release of a new drug in the market Your role is that of a: Functional Manager, because you have good functional knowledge of the pharmaceutical industry Project Manager, because you are creating a unique product within specific time schedules Operations Manager, because you have to several repetitive tasks Program Manager, because you have to manage several projects to your job effectively Question 4: Your company is responsible for developing an anti-virus software You are responsible for managing both the individual product releases and the coordination of multiple releases Your role is that of a: Program manager Project manager Functional manager Operations manager Question 5: You have reached the end of the design phase of your project You decide to call a "phase end review" for obtaining authorization to close the design phase and initiate the next phase (i.e., execution phase) of your project Your manager disagrees with your suggestion He wants a "kill point" to formally end the design phase of the project In this context, you should: Disagree with your manager because you know that phase end reviews should be used at the end of each phase of the project Agree with your manager as kill point is a phase-end review Escalate this issue to the project sponsor KPS Property, Not For Reproduction/ Distribution Take advice from a senior project manager about what should actually be done at the end of each phase of the project Question 6: You are working in the Project Management Office (PMO) of your organization Your job responsibility is to: Manage the operational activities in the company Manage human resource and risk management issues for individual projects Provide support functions to project managers in the form of training, providing software, standardizing policies, etc Provide subject matter expertise in the functional areas of the project Question 7: You are the project manager in a company where you have maximum authority To which organizational structure does your company belong? Functional Weak Matrix Strong Matrix Project-oriented Question 8: Matrix organizations exhibit features of both project-oriented and functional organizations In a weak matrix organization, the role of a project manager may be that of a: Coordinator Manager with considerable authority Support person Functional manager Question 9: You have recently joined as a project manager in a company where they follow a projectoriented organizational structure All your team members work in the same office where you have a lot of independence and authority Which of the following is NOT an advantage of a project-oriented organizational structure? Loyalty to the project Home for the team members after the project is completed Effective communication Efficiency in project organization Question 10: As a project manager, you realize that managing project stakeholder expectations is an important priority Which statement on project stakeholders is NOT correct? Negative stakeholders must be ignored if the project has to be successfully completed Stakeholders have varying levels of responsibility and authority when participating on a project and these can change over the course of the project life cycle Some key stakeholders include project manager, operations management, project team, customers, and sponsor Stakeholder expectations may be difficult to manage, because stakeholders often have very different or conflicting objectives KPS Property, Not For Reproduction/ Distribution Project Scope Management Question 1: The Scope Management Plan is an important component of the Project Management Plan since it provides direction on how the project scope will be managed throughout the project life cycle The Scope Management Plan documents: Which product requirements will be incorporated How project scope will be defined, developed, validated, and controlled Which stakeholders are most critical for defining the project scope High-level project scope deliverables Question 2: In your project, you use product analysis to translate high-level product descriptions into tangible deliverables and requirements Which of the following techniques is not used in product analysis? Value engineering Value analysis Product breakdown Alternatives analysis Question 3: You are the project manager in a company You have finished preparing a detailed description of the project and product What will you next? Collect Requirements Create WBS Validate Scope Control Scope Question 4: During the Validate Scope process, you formalize acceptance of the project deliverables and keep the project focused on the business need for which it was undertaken This should be done: At the beginning of the project At the end of the project When required by the project sponsor After getting verified deliverables from the Control Quality process Question 5: You are a project manager in a large software development organization It is a primary objective in your company to deliver quality products, with a low rate of errors and a high product acceptance rate by your customers The company has made significant investments in a robust system to support these corporate objectives and goals When developing contracts for software development projects, it is standard that the customer is required to follow rigorously defined processes for user acceptance testing which must be conducted each time a module is completed The customer is also required to notify the project manager, in writing, that the software module was tested and whether it was acceptable or not This user acceptance testing, and the resulting notification is part of which process? KPS Property, Not For Reproduction/ Distribution 3 Control Scope Collect Requirements Validate Scope Manage Quality Question 6: You are managing a project Your company has set a pre-defined budget for you to work with In this context, a pre-defined budget is considered as a: Risk Assumption Constraint Stage point Question 7: In your project, a team member suggested the addition of a functionality, which she thinks, will improve customer satisfaction Your approach would be to: Allow for the functionality, because satisfying the customer is your objective Disallow the new requirement, because it changes the project scope, and the customer did not explicitly state this requirement Make changes to the project plan to accommodate the new requirement Ask the customer for additional funding to implement the requirement Question 8: Which of the following statements related to Validate Scope and Control Quality processes is accurate? Validate Scope is concerned with correctness of the work results, while Control Quality is primarily concerned with acceptance of the work results Validate Scope is concerned with acceptance of the work results, while Control Quality is primarily concerned with correctness of the work results Validate Scope is done only after changes are approved by the change control board Both Validate Scope and Control Quality processes are always done sequentially Question 9: The scope baseline is a component of the project management plan and is critical for you to verify scope and perform scope control Which of the following is NOT a component of the scope baseline? Project Scope Statement WBS WBS dictionary Activity list Question 10: In your project, you need to verify whether deliverables meet requirements and product acceptance criteria For this purpose, which of the following would you rely on? Inspection KPS Property, Not For Reproduction/ Distribution Expert judgment Observations Focus groups Question 11: The customer accepted your project`s product two weeks ago, but recently complained that some of the product features are not as desired and that the product is not functioning properly What should you FIRST? Ignore the customer, since he already accepted the product Review the customer`s test results Review the Validate Scope process Start working on rectifying the errors as reported by the customer Question 12: An environmental remediation project has succeeded in reducing costs This is achieved by implementing a change request for new technology that was not available when the scope was originally defined The technology change that is adopted is a/an: Value adding change Error or omission in defining the scope of the project External event Contingency or workaround plan Project Schedule Management Question 1: The project manager has created the project schedule In this context, which of the following activities would the project manager NOT use schedule control for? Influencing the factors that create schedule changes Determining if the project schedule has changed Determining planned start and finish dates for project activities Managing actual schedule changes as they occur Question 2: You are taking over a project that is currently in the planning stage The previous project manager worked with the team to finalize the process of defining activities, and you joined the team at the end of this process The next process requires the determination and documentation of the relationships among project activities Of the following, which is a tool and technique used in this process? Schedule Baseline Dependency Determination and integration Activity List Schedule Compression KPS Property, Not For Reproduction/ Distribution Question 3: You are taking over a project during the planning stage You have managed to identify five tasks to be completed during the project Please refer to the table given below: What is the length of the critical path in months? 12 10 11 14 Question 4: You have managed to identify the five main tasks in your project You represent the dependency and duration in the table given below: What is the slack of task 5? -1 Question 5: You are a project manager overseeing the construction of a Baseball Stadium The activity of laying the Grass Sod has an optimistic estimate of 10 days, pessimistic estimate of 16 days, and most likely estimate of 13 days If your company has a quality requirement of Six Sigma, what is the duration within which this task must be completed? 10 days to 16 days days to 19 days 12 days to 14 days 11 days to 15 days Question 6: As a project manager, you have developed the Schedule Management Plan You are now in the process of identifying and documenting the relationships among the project activities You want to ensure that every activity and milestone except the first and last are connected to at least one predecessor and one successor Which of the following tools can you use for this purpose? Analogous estimating Parametric estimating Precedence diagramming method Performance reviews KPS Property, Not For Reproduction/ Distribution Question 7: Five tasks have to be completed one after another in your project The Contract with your Sponsor contains very strict penalties for delays The schedule reveals that the project has a negative float of three months, which of the following task(s) should be crashed to bring the project on schedule? Please refer to the table given below: Task M N O P Q Original Duration (months) 13 Crash Savings (months) 1 Original Cost Crash Cost $1,600 $1,800 $2,000 $3,000 $2,500 $1,700 $1,900 $2,050 $3,200 $2,650 Task Q Task N and Task O together Either Task Q or Task N and Task O together Task N and Task P together Question 8: You are managing a project to develop an emergency brake to an upcoming new model of RV In your project, you have to complete building a prototype before testing can begin This is an example of: Mandatory dependency Discretionary dependency External dependency Preferred logic Question 9: Which document provides high-level schedule information that is useful when planning for project schedule management? Schedule management plan Activity list Project charter Schedule baseline Question 10: As a project manager during the Develop Schedule process, you are now deliberating on the type of schedule presentations you are going to use The difference between a milestone chart and a bar chart is that unlike bar charts, milestone charts: Show activity start and end dates Show dependencies among tasks Identify the scheduled start or completion of major deliverables only and not all the tasks Show supporting details KPS Property, Not For Reproduction/ Distribution Question 11: You are managing a Wind Energy Project You have created the Network Schedule Diagram given below (all units are in days): What is the length of the critical path in months? 12 10 11 16 Question 12: The studio you are working for has assigned you as the project manager for a movie project where the producer left midway due to health issues As a project manager, you are responsible for meeting the project schedule deadlines If there is some delay in the project schedule, you should: Increase the timeline for the project Fast track or crash the project, and let the management know the impact of this action Ask the resources to work overtime to meet the project deadlines Change the project scope Project Cost Management Question 1: As a project manager, you are estimating the costs required to complete the project activities In this context, which of the following tools or techniques cannot be used? Analogous estimating Inspection Three-point estimates Cost of quality Question 2: Which cost estimating technique costs the least and saves the most time? Parametric estimating Bottom-up estimating Analogous estimating Three-point estimates KPS Property, Not For Reproduction/ Distribution Question 3: Which document provides high-level cost information that is useful when planning for project cost management? Cost management plan Project charter Cost baseline Requirements documentation Question 4: You are creating a cost performance baseline for your project In this context, which of the following statements related to cost performance baseline is incorrect? It is a time-phased budget It is used as a basis for comparison to actual results It is developed as a summation of the approved budgets for the different schedule activities It includes management reserves Question 5: In your project, you have monitored the status of the project to update the project costs and manage changes to the cost baseline Which of the following is an output of the Control Costs process? Basis of estimates Cost forecasts Cost change control system Work performance data Question 6: While doing monitoring and controlling for your project, you notice that the cost variance is negative, but schedule variance is positive This indicates: Cost and schedule are not dependent on each other Project is under budget and behind schedule Project is over budget and ahead of schedule Crashing may be recommended to make the cost variance positive Question 7: In your project, you are aggregating the estimated costs of individual activities to establish an authorized cost baseline For this purpose, which of the following will NOT be used as an input? Resource calendars Scope baseline Cost baseline Basis of estimates Question 8: As the project manager in a software company, you are determining the possible costs to complete project activities This is done as part of: Variance analysis Determine Budget Estimate Costs Control Costs KPS Property, Not For Reproduction/ Distribution Question 9: In your project, you have determined the planned quantity of work to be performed Luckily, a similar project was successfully completed three months ago, and historical information from that project is readily available To get a cost estimate for your project, you multiply the planned quantity of work in your project with the cost per unit obtained from the previous project This is a classic example of: Analogous estimating Determining resource cost rates Bottom-up estimating Parametric estimating Question 10: Please refer to the following diagram: What is the Earned Value (EV)? $5,000 $10,000 $11,000 $12,500 KPS Property, Not For Reproduction/ Distribution 10 Project Quality Management Question 1: You want to identify quality requirements and standards relevant to your project and product For this, you will: Manage Quality Plan Quality Management Perform Quality Control Perform Quality Management Question 2: You are working for a semi-conductor company There have been several instances in the past week when a few circuits have not been giving accurate results You have been assigned the task of determining the probable cause for the variations Which tool would you use? Control Chart Ishikawa Diagrams Histogram chart Flowcharting Question 3: You are managing the tools/spare parts section for an aircraft manufacturing company Your team members have discovered some defective tools/spare parts The probable cause for these could be materials used, defective measurement systems, inaccurate tolerances in the machines, or other factors To determine what caused the defect, you will: Use a control chart Draw an Ishikawa diagram Create a flowchart Draw a Histogram chart Question 4: The project team has added some functionalities to the product that are not required as part of the project However, the customer is satisfied with the product From a quality perspective, the action of the team is: Justified because customer expectations are exceeded Not acceptable, because it constitutes gold plating, which is not a good practice Desirable as this means repeat business from the customer Not ethical as the customer indicated project deliverable is not produced Question 5: Your company has developed a software product to analyze ‘big data’ From Multiple Sources While performing beta testing with a small sample of users, you notice that the product has defects because of the following reasons: - Non-compatibility with the operating system (20%) - Bugs in the software (22%) - Difficulty in understanding instruction manuals (20%) - Non-availability of desired features (15%) - Others (23%) To illustrate the causes of these problems, you could use a: Flowchart Quality Checklist KPS Property, Not For Reproduction/ Distribution Scatter Diagram Histogram chart 11 Question 6: Which of the following types of costs is not incurred toward ensuring compliance to requirements? Prevention costs Appraisal costs Quality planning costs Warranty costs Question 7: Your quality process did not meet the four sigma requirements desired by your customer So, some of your products were rejected and there is a possibility that you would not receive repeat business from the customer From a quality perspective, the costs associated with the rejected products can also be categorized as: Cost of conformance Customer retention costs Failure costs Performance costs Question 8: You are the project manager responsible for developing a new type of soap You decide to a statistical sampling for this project Statistical sampling surveys only a portion of the population of interest If you had chosen to survey the entire population, which of the following is NOT a problem you would encounter? Inaccurate data High cost Extended timeline Inadequate resources Question 9: You are a project manager tasked with developing a new machine that will be used for producing a unique style of reusable pop-off bottle cap You are working with the Quality team to identify potential quality issues with the machine during testing When you collected the requirement from stakeholders, the manager of manufacturing explicitly stated that it was important for the number of defects to be kept to 2% or less The sponsor asked for consistency and reliability in order to avoid machine and employee downtime The CFO said that the machine needed to last a minimum of seven years without replacement The customer’s focus was on getting the bottle caps produced in time for the launch of a new product which uses the new caps The team is currently assessing performance of the machine over time and would like to ensure that the measurements of each bottle cap produced are within the set limits You collect quality metrics data for a number of bottle caps produced by the machine and would like to analyze the findings using an appropriate tool Which tool is the most appropriate for this? A Histogram as it shows the number of defects A Run chart; if the chart indicates a run, then you can use this to predict a trend in the data A Pareto chart as it will show which defects are the ones to focus on fixing A Control chart as it will show whether the machine performance is stable and predictable KPS Property, Not For Reproduction/ Distribution 12 Project Resource Management Question 1: Which of the following statements about the project management team and the project team is inaccurate? The project management team is also called the core, executive, or leadership team The project team is responsible for activities like planning, controlling, and closing The project management team is a subset of the project team For small projects, the project management responsibilities are shared by the entire team or administered solely by the project manager Question 2: As a project manager, you want to have an appropriate recognition and rewards system to encourage better performance and reinforce desired behavior Which of the following statements on recognition and rewards system is incorrect? Recognition and reward systems should promote or reinforce desired behavior Recognition and rewards should consider cultural differences Recognition for team members who work extra hours on the weekends Give the team recognition throughout the life cycle of the project rather than wait until the project is completed Question 3: In your project, you are in the process of determining the project roles, responsibilities, and reporting relationships for your team members Which of the following would you NOT define/create at the end of this process? Physical resource assignments Roles and responsibilities Project organization charts Team charter Question 4: Your company has a project-oriented organization structure As your project nears completion, you notice that your team members are more interested in trying to find new positions rather than properly discharging their duties Their motivation is: Safety Social Psychological Self-esteem Question 5: Your organization has to follow some guidelines and policies while recruiting people From your project perspective, these guidelines and policies will be classified as: Regulations Best practices Assumptions Constraints KPS Property, Not For Reproduction/ Distribution 13 Question 6: Two project team members disagree often on the best way to handle an issue You ask them to look at the positives and negatives of their approaches and submit their recommendations, which could be a "middle path" Which of the following conflict resolution techniques have you used? Smoothing Compromising Confrontation Withdrawal Question 7: In your project, you recently observed conflict among team members You would like to see that all team members work towards one goal (i.e., successful completion of the project) A conflict handling method that emphasizes similarities rather than differences as means to solve a problem can also be referred to as: Smoothing Forcing Confrontation Withdrawal Question 8: What are Tuckman`s stages of group development in their respective order? Forming, Norming, Storming, Performing, Adjourning Forming, Storming, Smoothing, Performing, Adjourning Forming, Storming, Norming, Performing, Adjourning Forming, Norming, Storming, Performing, Closing Question 9: In your previous project, the project manager gave a lot of autonomy to the team members, which led to anarchy The management style followed by the project manager was: Directing Laissez faire Delegating Democratic Question 10: Your project has two hundred and fifty people from five different countries working to create a software solution to be deployed across fifteen countries One of your project leads continually misses project deadlines and undermines your authority in front of other team members In a stakeholder meeting, you want to settle a particular conflict with this project lead quickly and exert your authority What conflict management technique would you use? Confronting Forcing Withdrawing Avoiding KPS Property, Not For Reproduction/ Distribution 14 Project Communication Management Question 1: You have recently assumed charge of a project from another project manager You want to know what kind of information you should provide to different stakeholders and what methods to adopt for this purpose You will find this information in the: Communications management plan Performance reports Project records Communications plan Question 2: In your project, you have drawn up the project management plan and identified the various stakeholders You are ready to distribute information to stakeholders as planned Which of the following inputs will you use for this purpose? Work Performance Reports Deliverables Requested changes Information methods Question 3: In your project, you are monitoring and controlling communications throughout the entire project life cycle to ensure the information needs of the project stakeholders are met The information typically provides status and progress information on the project at the level of detail required by the various stakeholders This is done through: Plan Communications Management process Monitor Communications process Manage Communications process Earned Value management Question 4: You have eight people in your project, and one more person will be joining next week Once the new person joins, the number of communication channels will increase by: 12 20 Question 5: You are preparing the communications management plan for your project by using communication requirements analysis Which of the following statements about communication requirements analysis is inaccurate? KPS Property, Not For Reproduction/ Distribution 15 Requirements are defined by combining the type and format of information needed with an analysis of the cost of that information Project resources are expended on communicating information that contributes to success Project resources are expended on communicating information where lack of communication can lead to failure The intention is to prevent overloading stakeholders with minor details Question 6: You are the project manager, heading a team of ten technical developers Three more developers will be joining within a month What will be the increase in the number of communication channels after the new members join your team? 15 23 36 Cannot be determined from the given information Question 7: You are the project manager of a manufacturing firm that produces machine parts required in automobiles During a review, you discover some design requirements are not taken into account You should: Instruct your team to incorporate the requirements and an analysis to figure out the potential impact Inform your project sponsor that the project may be delayed because of the missed requirements Go ahead with production because incorporating the requirements may delay the schedule Escalate this issue to your senior management Question 8: You have fifteen members in your project team You have called for a project status meeting without prior notice There have been too many sidebar conversations and arguments As a result, you have achieved nothing substantial from the meeting To achieve orderliness in the meeting next time, you should: Decrease the number of people in the meeting Publish a meeting agenda Ensure that you control the channels of communication Give incentives to team members for conforming to desired meeting norms Question 9: You are managing a critical project with virtual teams located in eight countries At times, team members find it difficult to understand and interpret what others are communicating via teleconferencing From a communication management point of view, this difficulty in transmitting and understanding messages can also be referred to as: KPS Property, Not For Reproduction/ Distribution 16 Disturbance Noise Interference Breakdown in encode-decode model Question 10: Due to a shift in company objectives, your project is expected to terminate before completion Team members are scared and disappointed as they learn they will be out of a project As the project manager, what should you in this situation? Ignore them, they are no longer your concern Talk to the sponsor to try to reinstate the project Delegate to HR for post project staff assignment Call them for a meeting to discuss team members concerns Project Stakeholder Management Question 1: The responsibility of stakeholder expectations management usually lies with the: Project management team Project manager Project team Project manager, project sponsor, and project management team Question 2: You, as the project manager, are planning to document relevant information on interests, involvement, influence, and impact of project stakeholders Which of the following processes should you follow? Stakeholder Analysis Plan Communications Management Manage Stakeholder Engagement Identify Stakeholders Question 3: In your project, you actively manage stakeholder engagement in order to meet their needs and expectations Doing this is very beneficial, however, it may not help to: Increase the likelihood of stakeholders` acceptance of the project goals Influence and negotiate expectations of stakeholders to achieve project goals Ensure stakeholders` awareness of all project details Uncover and discuss stakeholder issues and concerns Question 4: The processes used in Project Stakeholder Management are KPS Property, Not For Reproduction/ Distribution 17 Identify Stakeholders, Plan Stakeholder Management, Manage Stakeholder Expectations, and Control Stakeholder Expectations Identify Stakeholders, Plan Stakeholder Communications, Manage Stakeholder Engagement, and Control Stakeholder Engagement Identify Stakeholders, Plan Stakeholder Engagement, Manage Stakeholder Engagement, and Monitor Stakeholder Engagement Identify Stakeholders, Stakeholder Management Plan, Manage Stakeholder Engagement, and Control Stakeholder Engagement Question 5: You are in the process of identifying the relevant stakeholders in the project In this context, which of the following is/are relevant output(s) of this process? Stakeholder register and Stakeholder Management Plan Stakeholder Management Strategy Organizational process assets updates Stakeholder register Question 6: Identify Stakeholders is the process of identifying all people or organizations impacted by the project and to document: Stakeholder interests, involvement, and impact on project success Stakeholder needs and address issues as they occur Project requirements from stakeholders Stakeholder needs and define a communication approach Question 7: During the Identify Stakeholders process, the project manager identifies all people or organizations impacted by the project, and documents relevant information regarding their interests, involvement, and impact on project success Once identified, a plan needs to be created to keep stakeholders engaged throughout the project In this context, which of the following statements is incorrect about stakeholder management? Stakeholders exert influence over the project and its deliverables It is critical for project success to identify stakeholders early in the project All critical stakeholders should be engaged at the same time A strategy or approach may be developed for engaging each stakeholder Question 8: While identifying stakeholders, you plan to group project stakeholders based on their level of authority and their active involvement in the project You can this by using: Power/Interest grid Power/Influence grid Influence/Impact grid Salience model Question 9: As the project manager, you are currently involved in monitoring stakeholder relationships and adjusting plans for their engagement Which process are you currently working in? Identify Stakeholders KPS Property, Not For Reproduction/ Distribution 18 Monitor Stakeholder Engagement Manage Stakeholder Engagement Plan Stakeholder Management Question 10: Which of the following is used to classify critical stakeholders on a project as a “manage closely” approach? Identify Stakeholders Plan Stakeholder Management Stakeholder Analysis Plan Communications Management Project Risk Management Question 1: In your project, you are creating a diagram that describes the decision under consideration and implications of choosing one or another of the available alternatives This will help to: Get a qualitative analysis of the risk Determine which risks may have the most impact on the project Translate the uncertainties at a detailed level into potential impact on objectives expressed at the level of the total project Determine which decision yields the greatest expected value Question 2: As a project manager, you are concerned with determining which risks may affect the project What is the process by which such risks are determined? Plan Risk Management Identify Risks Perform Qualitative Risk Analysis Plan Risk Responses Question 3: In your project, you have identified important risks and planned appropriate responses to the risks Some risks, such as the possibility of natural disasters impacting the project, have been documented and accepted in the risk register What are the remaining risks called? Unidentifiable Risks Residual Risks Secondary Risks Accepted Risks Question 4: Workarounds differ from contingency plans in that: Contingency plans are planned in advance and workarounds are not planned in advance Workarounds are planned in advance and contingency plans are not planned in advance KPS Property, Not For Reproduction/ Distribution 19 Contingency plans include plans for force majeure events, e.g natural calamities, but workarounds are the residual risks in the project Workarounds only include plans for force majeure events, e.g natural calamities Question 5: You are the project manager of a project which involves off-shore oil exploration Since you cannot plan for all eventualities, you establish a contingency reserve, including amounts of time, money, or resources to handle the risks This is an example of: Risk avoidance Risk transfer Active risk acceptance Improper risk planning since all risks should be identified and accounted Question 6: Please refer to the Decision Tree diagram given below It shows the analysis of profit/loss for the two alternatives (i.e., to build or buy) You will select Build or Buy ? Question 7: You have completed the process of developing options and actions to enhance opportunities and to reduce threats to project objectives What is your NEXT step? Determine which risks may affect the project and document their characteristics Implement risk response plans, track identified risks, monitor residual risks, identify new risks, and evaluate risk process effectiveness throughout the project Define how to conduct risk management activities for a project Assess the priority of identified risks using their probability of occurrence Question 8: In your project, the project architect met with an accident and will not be available for the next months You had not planned for this in risk planning - what should you NEXT? Create a Workaround Create a Fallback Plan Do additional risk response planning Create a new risk register for this risk Question 9: You are in the process of creating a risk management plan for your project This plan will describe how risk management will be structured and performed on the project Your risk management plan may include: KPS Property, Not For Reproduction/ Distribution 20 Avoid, transfer, mitigate, and accept risks Risk audits, reserve analysis, and technical performance measurement Risk audits, triggers, and inputs to other processes Budgeting, timing, and risk categories Question 10: Graphical representations of situations showing causal influences, time ordering of events, and other relationships among variables and outcomes are also referred to as: Cause-and-effect diagrams System flow charts Influence diagrams Simulation diagrams Project Procurement Management Question 1: A contract obligates the seller to provide the specified product and obligates the buyer to pay for it In this context, which of the following is a mandatory feature of a contract? Mutually binding Complicated Very detailed statement of work Signatures of senior leadership of the buyer Question 2: In your project, you are entering into a fixed-price contract in the form of a purchase order The contract is for a specified item to be delivered by a specific date for a specified price In the contract, the profit is: Determined by the buyer during contract sign-off Determined by the seller during contract sign-off Provided by the buyer to the seller at the end of the project if defined performance criteria are met Not known at the time of the contract sign-off Question 3: Which of the following is a hybrid type of contractual arrangement? Time and material contracts Fixed-price contracts Cost-reimbursable contracts Fixed price with redetermination KPS Property, Not For Reproduction/ Distribution 21 Question 4: In your project, your subcontracting requirements of the machining of high-value equipment are very demanding Hence, you have determined the technical criteria to evaluate the sellers This is an example of: Objective evaluation criteria Source selection criteria Statement of work Work breakdown structure Question 5: The process of identifying the project needs that can be met by acquiring products outside the project organization is done as part of: Conduct Procurements Control Procurements Procurements statement of work Plan Procurement Management Question 6: Early termination of a contract is a special case of contract closure This can happen because of: Default of the buyer Default of the seller Mutual agreement of the parties Any of the above reasons Question 7: You are considering whether to buy or make a software product If you want to buy, the cost is $80,000, and the cost of procuring and integrating the product in your company is $1,000 If you want to build it yourself, the product will require seven engineers working for three months The salary of each software engineer is $4,000 per month The other related miscellaneous costs allocated to the project are $2,000 Which option will you choose? Buy Build Neither build nor buy Need more information on suppliers to make a decision Question 8: Since the buyer could not meet the requirements of the contract, you (the seller) want to terminate the contract early This is done in the: Plan Procurement Management process Control Procurements process Procurements audit Conduct Procurements process Question 9: Which of the following is the most widely used contract type? KPS Property, Not For Reproduction/ Distribution 22 Cost plus incentive fee contracts Fixed price incentive fee contracts Cost plus award fee contracts Firm fixed price contracts Project Integration Management Question 1: Which of the following is included in a project charter A risk management strategy Work package estimates Detailed resource estimates The business case, business need for the project Question 2: A project management plan should be realistic in order to be used to manage the project Which of the following is the BEST method to achieve a realistic project management plan? Sponsor creates the project management plan based on input from the project management Functional manager creates the project management plan based on input from the project manager PM creates the project management plan based on input from senior management Project manager creates the project management plan based on input from the team Question 3: Approved corrective action is an input to Verify Scope Direct and Manage Project Execution Develop Project Charter Develop Schedule Question 4: During project executing, the project manager determines that a change is needed to material purchased for the project The project manager calls a meeting of the team to plan how to make the change This is an example of: Management by objectives Lack of a change management plan Good team relations Lack of a clear work breakdown structure Question 05: The customer wants to expand the project performance measurement baselines have been established The customer will need to follow which procedures? Scope control Perform Integrated Change Control Integrated management Document control Question 06: A stakeholder want to made a change to the work breakdown structure that does NOT affect the time or cost of the project What is the BEST thing to do? KPS Property, Not For Reproduction/ Distribution 23 Tell the stakeholder that this change cannot be made without revising the project management plan Make the change Meet with management Look for other impacts on the project Question 07: The client demands changes to the product specification that will add only two weeks to the critical path Which of the following is the BEST thing for the project manager to do? Compress the schedule to recover the two weeks Cut scope to recover the two week Consult with the sponsor about options Advise the client of the impact of the change Question 08: The project manager has just received a change from the customer that does not affect the project schedule and is easy to complete What should the project manager FIRST? Make the change happen as soon as possible Contact the project sponsor for permission Go to the change control board Evaluate the impacts on other project constraints Question 09: All of the following would occur during the Close Project or Phase process EXCEPT: Creating lessons learned Formal acceptance Reducing resource spending Performing benefit cost analysis Question 10: You have created the project charter, but could not get it approved Your manager and his boss have asked that the project begin immediately Which of the following is the BEST thing to do? Set up an integrated change control process Show your manager the impact of proceeding without approval Focus on completing projects that have signed project charters Star work on only the critical path activities Question 11: The project charter for a project was approved for planning and you have just been assigned as project manager Realizing that project planning is an ongoing effort throughout the project, which processes are you MOST likely to combine? Create WBS and Define Activities Estimate Activity Durations and Develop Schedule Develop Human Resource Plan and Estimate Costs Estimate Costs and determine Budget Question 12: During the creation of lesions learned for a project, the team determines that the project would have been better if they had a change control board Which of the following is the BEST description of what a change control board helps the team to do? Create change requests Approve or reject changes Create procedures Formulate the change KPS Property, Not For Reproduction/ Distribution 24 ... happen because of: Default of the buyer Default of the seller Mutual agreement of the parties Any of the above reasons Question 7: You are considering whether to buy or make a software product... In this context, which of the following is a mandatory feature of a contract? Mutually binding Complicated Very detailed statement of work Signatures of senior leadership of the buyer Question... process of defining activities, and you joined the team at the end of this process The next process requires the determination and documentation of the relationships among project activities Of the