Tag: Project Management Professional (PMP) Exam Practice

Project Management Professional (PMP) Exam Practice – Question1732

One key reason that the develop project charter process is so important is that it______________


A. Documents the boundaries of the project
B. States the methods for acceptance of the project's deliverables
C. Describes the project's characteristics
D. Links the project to the ongoing work of the organization

Correct Answer: D

Explanation:

Explanation:
The project charter not only authorizes a project, it shows how the project is linked to the strategic plan of the organization. Among other things, the project charter documents the business need for the project and describes the current understanding of the
requirements.

Project Management Professional (PMP) Exam Practice – Question1731

Your project sponsor has asked you, "What do we now expect the total job to cost?" Given that you are using earned value, you should calculate the______________


A. To-complete performance index
B. Estimate to complete
C. Estimate at completion
D. Budget at completion

Correct Answer: C

Explanation:

Explanation:
EAC is the total amount of money estimated to be spent on the project. It can be calculated several different ways. However, the basic approach is to add the actual costs to date plus the estimate to complete.

Project Management Professional (PMP) Exam Practice – Question1730

Assume that on your project, you are using earned value management. Your project is one that has extremely long work packages. Therefore, the method you should use to calculate EV is______________


A. 0/100 rule

B. Milestone method
C. Equivalent effort
D. Apportioned effort

Correct Answer: B

Explanation:

Explanation:
The milestone method is especially helpful for work packages of long duration that have interim milestones or a functional group of activities with a milestone established at specific control points. In the EV system, value is earned when the milestone is completed.
In such cases, a budget is assigned to the milestone rather than to the work packages.

Project Management Professional (PMP) Exam Practice – Question1729

While managing a large project in your organization, you realize that your project team requires training in contract administration because you will be awarding several major subcontracts. After you analyze your project requirements and assess the expertise of
your team members, you decide that your team will need a one-week class in contract administration. This training should______________


A. Commence as scheduled and stated in the staffing management plan
B. Commence as scheduled and stated as part of the procurement management plan
C. Be scheduled if necessary after performance assessments are prepared and after each team member has had an opportunity to serve in the contract administrator role
D. Commence as scheduled and stated in the team development plan

Correct Answer: A

Explanation:

Explanation:
Training is a tool and technique for the develop project team process. The requirements and schedule for the develop project team process should be stated in the staffing management plan. Project team members’ skills can be developed as part of the project
activities.

Project Management Professional (PMP) Exam Practice – Question1728

A challenge of earned value management is predicting percent complete. The simplest formula to use to calculate EV is______________


A. 0/100 rule
B. 50/50 rule

C. (Percent complete)h budget at completion)
D. Milestone method

Correct Answer: C

Explanation:

Explanation:
Multiplying the percent complete by the budget at completion, or the total budget for the project, is the simplest formula to use. The 50/50 rule, or the more conservative 0/100 rule, can eliminate the necessity for the continuous determination of percent complete.
After the percent complete is determined, it can be plotted against time expended.

Project Management Professional (PMP) Exam Practice – Question1727

After the project scope statement is complete, it may be necessary to update other project documents. All the following are examples of a document that may require updates EXCEPT______________


A. Project charter

B. Stakeholder register
C. Requirements documentation
D. Requirements traceability matrix

Correct Answer: A

Explanation:

Explanation:
Outputs of the define scope project are the project scope statement and project document updates that include updates to the stakeholder register, requirements documentation, and the requirements traceability matrix.

Project Management Professional (PMP) Exam Practice – Question1726

Which of the following tools and techniques is used in the close project or phase process?


A. Project management methodology
B. Work performance information
C. Expert judgment
D. Project management information system

Correct Answer: C

Explanation:

Explanation:
According to the PMBOK Guide, expert judgment is use in close project or phase to ensure closure is performed to appropriate standards.

Project Management Professional (PMP) Exam Practice – Question1725

Project deliverables are the outputs that include the product, service, or result of the project as well as ancillary results. These ancillary results should be in the______________


A. Requirements management plan
B. Scope management plan
C. Project scope statement
D. Project acceptance criteria

Correct Answer: C

Explanation:

Explanation:
The project scope statement describes in detail the deliverables and what work must be done to prepare them. Ancillary results are also considered deliverables and are included in the project scope statement. They include items such as project management
reports and documentation. Deliverables in the project scope statement may be described at a summary level or in a detailed way.

Project Management Professional (PMP) Exam Practice – Question1724

The CPI on your project is 0.44, which means that you should______________


A. Place emphasis on improving the timeliness of the physical progress
B. Reassess the life-cycle costs of your product, including the length of the life-cycle phase
C. Place emphasis on improving the productivity by which work was being performed
D. Recognize that your original estimates were fundamentally flawed, and your project is in an atypical situation

Correct Answer: D

Explanation:

Explanation:
CPI = EV/AC. It measures the efficiency of the physical progress accomplished compared to the baseline. A CPI of 0.44 means that for every dollar spent, you are only receiving 44 cents of progress. Therefore, something is not correct with how you planned your
project, or your original estimates were fundamentally flawed, and your project is in an atypical situation. You might want to reconsider a formal “replan” and/or take a new baseline of your project.

Project Management Professional (PMP) Exam Practice – Question1723

The key to effective cost control is______________


A. Using earned value to forecast project status
B. Focusing on projected expenditures and actively networking with key stakeholders to ensure funds will be available as requested
C. Informing stakeholders of the project's cost status

D. Managing the approved cost baseline and any changes to it

Correct Answer: D

Explanation:

Explanation:
The control costs process involves monitoring the project’s status to update the project costs and managing changes to the cost baseline. Its benefit is that is provides the means to recognize variance in order to take corrective action and minimize risks.
Therefore, effective management of the approved cost baseline and any changes is imperative.