What is the cost of a work package if the resource costs are $25/hour and material costs are $250? This would should take about 75 hours. - ANSWER $2,125
Which of the following statements regarding control accounts is
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What is the cost of a work package if the resource costs are $25/hour and material costs are $250? This would should take about 75 hours. - ANSWER $2,125
Which of the following statements regarding control accounts is true? - ANSWER A control account is established where the lowest OBS element intersects the lowest WBS element.
You are estimating the costs for a work effort and have received the following information: best case is $150, and worst case, it could cost as much as $225. However, the most likely cost estimate is $195. What is the budget estimate for this work using a triangular distribution formula? - ANSWER $190.00
How are S-curves used for projects? - ANSWER They help you track progress.
Which term refers to the final value of your project that is set at the beginning of your project? - ANSWER Budget at completion (BAC).
You have determined the following information regarding your project. To-date, $43,000 of work has been completed and $47,000 has been spent. The plan called for $44,000 of the $200,000 worth of work to be complete. What is the current earned value? - ANSWER $43,000
Verified deliverables is an output of which process? - ANSWER Control Quality
What is the overall purpose of benchmarking? - ANSWER Learn from best-in-class projects or companies.
Which of the following groups defines quality levels for a new project? - ANSWER Customers.
Which statement below accurately describes the purpose of the Manage Quality process? - ANSWER The purpose is to increase confidence that quality will be achieved.
Which statement below accurately describes the purpose of the Control Quality process? - ANSWER Ensure all project outputs are complete, correct and meet customer expectations.
Which of the following is a feature of a quality audit? - ANSWER They are responded to.
Which conflict resolution technique would be most appropriate when neither side can get everything they need and it's more important to move on than keep working on the conflict? - ANSWER Compromise
When is the best time for team building to take place for a project? - ANSWER Continuously.
Which resource management process focuses on improving competencies with the goal of improving project performance? - ANSWER Develop Team
What type of communication is most appropriate for an executive briefing? - ANSWER Formal verbal
Which communication management process is responsible for ensuring the communication needs of project stakeholders is met? - ANSWER Monitoring Communications
How many communication channels are there for a team of five? - ANSWER 10
Expected monetary value (EMV) is associated with which quantitative risk analysis technique? - ANSWER Decision tree analysis
Which of the project risk management processes includes brainstorming as a tool and technique? - ANSWER Identify Risks
Which risk response planning are used for positive risks (opportunities)? - ANSWER Exploit, enhance, and share.
A high-priority risk has activated, and the planned response deployed. However, the risk was not fully resolved. What is the name for this type of risk? - ANSWER Residual risk
Which statement about contingency reserves is true? - ANSWER The accept risk response is handled by the contingency reserve.
The list of procured items is found in which procurement document? - ANSWER Procurement management plan
Which contract clause indemnifies the buyer if there is a loss? - ANSWER Insurance clause
Calculate the final price using the following information. The target cost is $100,000, and the actual cost is $93,000. The target fee is $9,000, and the share ratio is 60/40. - ANSWER $104,800
You are working on a project to update the corporate training database. The director of the training department has been a key stakeholder of your project but has recently taken a new position. Her project role will be shifted to someone else. Which project document must be updated first because of this change? - ANSWER Stakeholder register
Managing stakeholder engagement activities includes which of the following? - ANSWER Clarifying and resolving stakeholder issues
The stakeholder engagement assessment matrix is routinely reviewed and updated during which stakeholder management process? - ANSWER Monitor Stakeholder Engagement
Your project is a process improvement project. A manual process currently exists, but you've found no written documentation to support it. Everybody seems to just know what to do when things happen. What type of knowledge is this? - ANSWER Implicit knowledge
Your project is updating an existing assembly line to add more automation equipment. Which of the following would NOT be considered configuration items (CIs) of this project? - ANSWER Changes to the plant layout
Which of the following statements regarding verification and validation is true? - ANSWER Validation leads to accepted deliverables, and verification leads to completed deliverables.
The legal definition of fairness requires all of the following conditions EXCEPT: - ANSWER Fairness requires the situation must be ethical.
Conducting ourselves in a professional manner, even when it's not reciprocated is associated with which PMI® Code of Conduct and Professional Responsibility value? - ANSWER Value of respect
Which of the following is an example of intellectual property? - ANSWER A trademark
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