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Q226. Generally, when is the BEST time to create a procurement management plan?
A. After the contract is signed
B. Preceding the Conduct Procurement process
C. During project initiating
D. When updating the procurement management plan
Answer: B
Q227. Which of the following does NOT assess the value a project brings to an organization?
A. Benefit cost analysis
B. Net present value
C. Value analysis
D. Needs assessment
Answer: C
Q228. Formal written communication is mandated for which of the following?
A. Both 1) scope changes not part of the original project, and 2) taking exception to a specification.
B. scope changes not part of the original project
C. procurement of raw materials
D. All of the other alternatives apply.
E. taking exception to a specification
Answer: D
Q229. Which of the following is an input to Collect Requirements?
A. Stakeholder register
B. Requirements documentation
C. Prototypes
D. Organizational process assets
Answer: A
Q230. What is a technique used in the performance reporting process?
A. Expert judgment
B. Project management methodology
C. Stakeholder analysis
D. Status review meetings
Answer: D
Q231. Which of the following techniques incorporates a form of risk assessment?
A. Arrow diagramming method
B. Network diagramming
C. Critical path method
D. Three-point estimating
Answer: D
Q232. You are working with XYZ organization. Your senior manager imposed new delivery date which is earlier than mentioned project deliverables date in scope statement. To whom you are most accountable?
A. customer
B. team member
C. sponsor
D. senior manager
Answer: A
Q233. Response Planning is the responsibility of the functional areas and considers
A. deflection.
B. contingency planning.
C. unforeseen occurrences.
D. All of the other alternatives apply.
E. mitigation.
Answer: D
Q234. You are a project manager working on a software development project. You've developed the risk management plan, identified risks, and determined risk responses for the risks. One of the risks you identified occurs, and you implement the response for that risk. Then, another risk occurs as a result of the response you implemented. What type of risk is this called?
A. Residual risk
B. Mitigated risk
C. Secondary risk
D. Trigger risk
Answer: C
Q235. Which process group can be performed outside the project's scope of control?
A. Planning
B. Monitoring and Control
C. Closing
D. Initiating
Answer: D
Q236. What is the difference between expected monetary value and net present value?
A. Expected value is the estimated value of the work actually accomplished and net present value is the value of the work to be done.
B. Expected value is the value it takes to recover your investment and net present value is the value of money.
C. Expected value is the probability times impact of an opportunity and net present value is the benefits less costs over many time periods.
D. Expected value is the estimated value of risk response plans and net present value helps determine the value of investments.
Answer: C
Q237. Your management has decided that all orders will be treated as "projects" and that project managers will be used to update orders daily, to resolve issues, and to ensure that the customer formally accepts the product within 30 days of completion. Revenue from the individual orders can vary from US $100 to US $150,000. The project manager will not be required to perform planning or provide documentation other than daily status. How would you define this situation?
A. Because each individual order is a "temporary endeavor," each order is a project.
B. This is program management since there are multiple projects involved.
C. This is a recurring process.
D. Orders incurring revenue over $100,000 would be considered projects and would involve project management.
Answer: C
Q238. The project manager has performed schedule network analysis, compressed the schedule, and completed a Monte Carlo analysis. What time management activity should be done NEXT?
A. Update resource requirements
B. Recommend corrective actions
C. Estimate Activity Durations
D. Create a milestone list
Answer: A
Q239. Which type of control tool identifies whether or not a process has a predictable performance?
A. Cause and effect diagram
B. Control Charts
C. Pareto Chart
D. Histogram
Answer: B
Q240. If a project manager is using observation and conversation to help control the project, she must be involved in which process?
A. Develop Project Team
B. Distribute Information
C. Manage Stakeholder Expectations
D. Manage Project Team
Answer: D