PMP Exam Questions with 100% correct answers

nominal group technique - ANSWER a decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group Delphi Technique - ANSWER A decision-making tech ...

nominal group technique - ANSWER a decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group Delphi Technique - ANSWER A decision-making technique in which group members do not meet face-to-face but respond in writing to questions posed by the group leader. Affinity Diagram - ANSWER A group creativity technique that allows large numbers of ideas to be classified into groups for review and analysis. Tornado Diagram - ANSWER diagramming method to display sensitivity analysis data by examining all the uncertain elements at their baseline values. It gives a quick overview of how much the project will be impacted by various elements. The element with the greatest impact on the project appears at the top. This diagram can be used to deter- mine sensitivity in cost, time, and quality objectives and is helpful in determining de- tailed response plans for elements with greater impacts Project Scope Statement - ANSWER The description of the project scope, major deliverables, assumptions, and constraints. Answers the ?s of who, what, where, why, and how Validate Scope - ANSWER The process of formalizing acceptance of the completed project deliverables (criteria) by sponsor, major stakeholders, and customer prior to release. Control Quality verifies correctness of the work, whereas Validate Scope confirms completeness. requirements document - ANSWER Contains the set of business requirements, prioritized in order of business importance. Output in the collect requirements process Work Breakdown Structure - ANSWER Foundational block to the initiating, plan- ning, executing, monitoring & controlling, and closing phases. Normally presented in chart form. Provides a structure for hierarchal summation of cost, schedule, and resource information. Work is not sequenced here. Root Cause Analysis - ANSWER An analytical technique used to determine the basic underlying reason that causes a variance or a defect or a risk. A root cause may underlie more than one variance or defect or risk. 3 types: Ishakawa, Fish Bone, Cause & Effect Stakeholder engagement - ANSWER An ongoing process of relationship building between a business and its stakeholders. 5 types: Unaware, resisting, neutral, supportive, leadership Tuckman's Stages of Group Development - ANSWER forming, storming, norming, performing, adjourning Fishbone diagram - ANSWER a visual aid that helps organize cause and effect relationships for "things gone wrong" Pareto Chart - ANSWER a bar graph whose bars are drawn in decreasing order of frequency or relative frequency Claims administration is a tool & technique in which process? - ANSWER Control Procurement Configuration Management System - ANSWER subset of the Project Management In- formation System (PMIS) that describes the different versions and characteristics of the product, service, or result of the project and ensures accuracy and completeness of the description. It is all about managing different configurations of a product. At some point in time, a product will be base lined, and different configurations, versions, and branches are managed from that point. process improvement plan - ANSWER looks at processes and outlines the activities and steps that will enhance their value. work authorization system - ANSWER A formal, documented procedure to describe how to authorize and initiate work in the correct sequence at the appropriate time Expectancy Theory - ANSWER the theory that people will be motivated to the extent to which they believe that their efforts will lead to good performance, that good performance will be rewarded, and that they will be offered attractive rewards McClelland's Achievement Theory - ANSWER suggests people have varying degrees of need in three areas: achievement, power, and affiliation. How much each area means to a person helps determine what it is that primarily motivates that person. (PMO) project management office - ANSWER organizational body responsible for establishing and maintaining templates, policies, procedures, best practices, and standards for project management methodologies. Can directly manage projects & programs Meetings are what kind of communication? - ANSWER Informal verbal Herzberg's Motivation-Hygiene Theory - ANSWER hygiene factors are not sufficient to motivate people, and motivating agents provide the best positive reinforcement. Hygiene factors can destroy motivation, but improving them under most circumstances will not improve motivation. hygiene factors - ANSWER Factors—such as company policy and administration, supervision, and salary—that, when adequate in a job, placate workers. When these factors are adequate, people will not be dissatisfied. SWOT analysis - ANSWER a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats Expected Monetary Value - ANSWER The product of a risk event probability and the risk event's monetary value NP Reserve Analysis - ANSWER An analytical technique to determine the essential features and relationships of components in the project management plan to establish a reserve for the schedule duration, budget, estimated cost, or funds for a project. NP Ishakawa Diagram - ANSWER tool used for systematically identifying and presenting all the possible causes and sub causes of a particular problem in a graphical format. It can help in quality control by identifying the causes which contributed to a quality problem. Funding Limit Reconciliation - ANSWER Technique of reconciling the expenditure of funds with the funding limits set for the project. As per the variance between the expenditure of funds and planned limit, the activities can be rescheduled to level out the rates of expenditures. Forecasting - ANSWER method for predicting how variables will change the future NP Crashing - ANSWER A technique of adding additional resources to a project activity to complete it in less time. Ex: approving overtime, adding resources, or paying to expedite delivery to activities on the critical path. Does not always produce a viable alternative & may result in increased risk, more management time, &/or cost. Increasing the # of resources may decrease time, but not in a linear amount as activities will often encounter the law of diminishing returns. First step in change control - ANSWER Document as per project scope management plan, analyze impact, then submit to change request board. change-driven project life cycles - ANSWER Iterative, incremental, and adaptive; Adaptive life cycle scopes are progressively elaborated throughout the project, not fixed. Control Quality - ANSWER Closely r/t Validate Scope. QC & VS processes can be performed simultaneously, but CQ usually performed prior to Validate Scope. Focused on measuring specific project results against quality specifications and standards, whereas Validate Scope is mainly focused on obtaining acceptance of the product from the sponsor, customers, and others. Incremental life cycle - ANSWER delivers a complete, usable portion of the product in each iteration Precedence Diagramming Method - ANSWER Creates a schematic display of the sequential and logical relationships of project activities. It usually shows dependencies & the order in which activities in a project must be performed. Uses 4 types of dependency relationships, including finish-to-start. Usually uses Activity-on-Node (AON) convention where boxes/nodes are used to represent activities and arrows show dependencies. EAC - ANSWER Forecast cost of the project; EAC = BAC/CPI Cost of Quality - ANSWER The cost of conformance plus the cost of nonconformance NP; tool & technique in estimate costs process Fast tracking - ANSWER In overlapping relationships, the successor phase can start prior to the completion of the predecessor phase. This approach can be applied as a schedule compression technique called "fast-tracking." This kind of relationship may increase project risk and the potential for conflicts as a subsequent phase progresses before the accurate information is avail- able from the previous phase. This kind of relationship can reduce the ability to develop long-term planning, but it is very suitable in an undefined, uncertain, and rapidly chang- ing environment. Incentives - ANSWER Bonus in addition to the agreed-upon price for exceeding time or cost objectives as specified in the contract. For the seller, the focus is on profit, and for buyers, the focus can be a combination of cost, time, and performance. Incentives help bring the seller's objectives in line with those of the buyer. With an incentive, both the buyer and seller work toward the same objective—for instance, completing the project on time. In this specific situation, an incentive will be most effective. force majeure - ANSWER An allowable excuse for either party for not meeting contractual obligations in the event of something considered to be an act of God, such as fire, storm, flood, and freak electrical storm. Since the event is considered to be neither party's fault, usually the seller receives a time extension, and risk of loss is borne by the seller, which is usually covered by insur- ance. Time is of the essence - ANSWER Indicates that delivery dates are extremely important and that any delay will be considered as a material breach French contract in the Freedom Tower Retainage clause - ANSWER Indicates that delivery dates are extremely important and that any delay will be considered as a material breach value analysis - ANSWER Referred to as "value engineering" or "value methodology." It is the technique of finding a less costly way to do the same work and of achieving more out of the project in every possible way to increase the bottom line, decrease costs, im- prove quality, and optimize the schedule without reducing or impacting the scope. Analogous Estimating - ANSWER top-down estimation. Relies on historical information to assign the current duration to the activities; based on a limited amount of information. It is very quick to do; however, it is considered less accurate than other types of estimation. Because all projects are unique, this approach can lead to less accurate estimates. Parametric Estimating - ANSWER Uses a math algorithm to calculate cost or duration. The calculation is based on historical data and variables. Ex: if it takes three days to remodel a room, it will then take 12 days to remodel four rooms. This type of estimation can be very accurate if the math is correct. If one hour for one line of code is accurate, then the estimate will be correct. Resource Leveling - ANSWER When resources are limited or over-allocated, the PM will adjust the schedule to extend the activity dates or resequence activities to accommodate the resource constraints. Ex: if you are using resource leveling and have two activities that are happening in parallel of each other using the same resource (over-allocated), you would then move them to happen sequentially instead of in parallel. Doing this would most likely increase the critical path. It generally increases the critical path. Resource Smoothing - ANSWER This technique is used to ensure the critical path does not change. It will allow activities to change if there is float. This method doesn't affect the critical path like resource leveling does. Monte Carlo Simulation - ANSWER Data analysis can include what-if scenarios and simulations. When building the final project schedule, you will go through a series of these different what-if scenarios. I.e. projecting things such as what would happen if you run two activities in parallel or what-if you add more resources to these activities. You might run different simulations on what would happen if activities are delayed or finished faster. Schedule Compression - ANSWER Crashing increases cost and fast tracking increases risk. Try to compress the schedule before getting it approved. Histograms - ANSWER bar charts that show the distribution of numerical data. They are used to show frequency. This can be used to show frequency of defects on a project. Flowcharts - ANSWER show you a graphical representation of the process and any room for improvements. Design for X - ANSWER generally used by engineers in order to design a particular aspect of a product. X = a variable & can be substituted for things such as assembly, costs, safety, quality, or deployment. For example, you can do d for costs which would be DfC. DfC would ensure that when you design a product, its design would bear cost in mind to ensure that it's profitable when produced. DfX can lead to better quality products by bringing down costs and ensuring better performance. Six Sigma - ANSWER Plurality - ANSWER Majority is not obtained but the decision is chosen Finish to finish - ANSWER When activities need to finish but not necessarily start at the same time Start-to-start - ANSWER Activity A needs to start before activity B. Starting of B depends on starting of A. Start to finish - ANSWER