Project Management Professional (PMP) Exam Practice – Question0159

In which type of contract are the performance targets established at the onset and the final contract price determined after completion of all work based on the sellers performance?


A.
Firm-Fixed-Price (FFP)
B. Fixed Price with Economic Price Adjustments (FP-EPA)
C. Fixed-Price-Incentive-Fee (FPIF)
D. Cost Plus Fixed Fee (CPFF)

Correct Answer: C

Project Management Professional (PMP) Exam Practice – Question0158

Projects are separated into phases or subprojects; these phases include:


A.
feasibility study, concept development, design, and prototype.
B. initiate, plan, execute, and monitor.
C. Develop Charter, Define Activities, Manage Stakeholder Expectations, and Report Performance.
D. Identify Stakeholders, develop concept, build, and test.

Correct Answer: A

Project Management Professional (PMP) Exam Practice – Question0156

What is project management?


A.
A logical grouping of project management inputs, outputs, tools, and techniques
B. Applying knowledge, skills, tools, and techniques to project activities to meet the project requirements
C. Launching a process that can result in the authorization of a new project

D. A formal, approved document that defines how the project is executed, monitored, and controlled

Correct Answer: B