PMI PMI-SP Exam Practice Questions (P. 5)
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Question #41
Which of the following are the inputs to the Develop Project Charter process? Each correct answer represents a complete solution. Choose all that apply.
- AProcurement document
- BContract
- CBusiness case
- DProject statement of work
Correct Answer:
BCD
The Develop Project Charter process documents the formal authorization of a project or a phase. It also documents initial requirements that satisfy the stakeholder's needs and expectations. It is used to validate the decisions made during the previous iteration of the Develop Project Charter process. The various inputs of this process are as follows:
✑ Project statement of work
✑ Business case
✑ Contract
✑ Enterprise environmental factors
✑ Organizational process assets
✑ The output of the Develop project Charter process is as follows:
✑ Project charter
Incorrect Answers:
A: Procurement document is the input of the Identify Stakeholders process.
BCD
The Develop Project Charter process documents the formal authorization of a project or a phase. It also documents initial requirements that satisfy the stakeholder's needs and expectations. It is used to validate the decisions made during the previous iteration of the Develop Project Charter process. The various inputs of this process are as follows:
✑ Project statement of work
✑ Business case
✑ Contract
✑ Enterprise environmental factors
✑ Organizational process assets
✑ The output of the Develop project Charter process is as follows:
✑ Project charter
Incorrect Answers:
A: Procurement document is the input of the Identify Stakeholders process.
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Question #42
Beth is the project manager for the NHQ project. This project deals with fiber optic cabling in her organizational campus. Tim is the electrical engineer for her company and is the only internal resource that can complete several of the project activities that deal with the fiber optic cables. Because Tim is a highly-skilled resource, he is already scheduled on several projects within the organization and is not available when Beth needs him to complete some of the project activities.
This is an example of which term?
This is an example of which term?
- AResource calendar conflict
- BMatrix network
- COrganizational process assets
- DActivity resource requirements
Correct Answer:
D
Because the activities in Beth's project require Tim and his skills. This is an example of an activity resource requirement. A resource constraint would also have been an acceptable answer.
Incorrect Answers:
A: A resource calendar conflict is not a valid project management term.
B: This may be a matrix organization, but matrix network is not a valid project management term.
C: Organizational process assets are things that have been created to help assist the management of the project.
D
Because the activities in Beth's project require Tim and his skills. This is an example of an activity resource requirement. A resource constraint would also have been an acceptable answer.
Incorrect Answers:
A: A resource calendar conflict is not a valid project management term.
B: This may be a matrix organization, but matrix network is not a valid project management term.
C: Organizational process assets are things that have been created to help assist the management of the project.
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Question #43
SIMULATION -
Fill in the blank with an appropriate phrase. The_____ allows the project team to look at the performance of the project to date, and use that data to make more accurate projections about the future.
Fill in the blank with an appropriate phrase. The_____ allows the project team to look at the performance of the project to date, and use that data to make more accurate projections about the future.
Correct Answer:
Schedule model
The main function of the schedule model is to provide a useful 'road map' that can be used by the project manager and the project team to assist them in completing the project fruitfully. A well-developed schedule model is an active tool used to predict at what time the project work that remains to be completed can reasonably be completed. The schedule model allows the project team to look at the performance of the project to date, and use that data to make more accurate projections about the future.
Schedule model
The main function of the schedule model is to provide a useful 'road map' that can be used by the project manager and the project team to assist them in completing the project fruitfully. A well-developed schedule model is an active tool used to predict at what time the project work that remains to be completed can reasonably be completed. The schedule model allows the project team to look at the performance of the project to date, and use that data to make more accurate projections about the future.
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Question #44
John works as a Project Manager for Blue Well Inc. He is measuring cost efficiency of his project. The key values are provided in the table below:
What is the cost performance index (CPI) of the project at the current point of time?
What is the cost performance index (CPI) of the project at the current point of time?
- A0.96
- B1.082
- C0.833
- D1.0625
Correct Answer:
C
According to the question, you are required to calculate the cost performance index (CPI) of the project. Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. Here, CPI is as follows: CPI = EV / AV = 425/510 =
0.833 As the CPI (0.833) is less than 1, it shows that the schedule performance is below expectation. What is BCWP (or EV)? Budgeted cost of work performed
(BCWP) or Earned Value (EV) is the value of completed work. It is the budgeted amount for the work actually completed on the schedule activity during a given time period. What is BCWS (or PV)? Budgeted Cost of Work Scheduled (BCWS) or Planned Value (PV) is the authorized budget assigned to the scheduled work to be accomplished for a schedule activity or Work Breakdown Structure (WBS) component. What is ACWP (or AC)? Actual cost of work performed (ACWP) or
Actual Cost (AC) is the total costs actually incurred and recorded in accomplishing work performed during a given time period for a schedule activity. It is the cost of the work to date, including direct and indirect costs. AC is money that has actually been expended to date.
C
According to the question, you are required to calculate the cost performance index (CPI) of the project. Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. Here, CPI is as follows: CPI = EV / AV = 425/510 =
0.833 As the CPI (0.833) is less than 1, it shows that the schedule performance is below expectation. What is BCWP (or EV)? Budgeted cost of work performed
(BCWP) or Earned Value (EV) is the value of completed work. It is the budgeted amount for the work actually completed on the schedule activity during a given time period. What is BCWS (or PV)? Budgeted Cost of Work Scheduled (BCWS) or Planned Value (PV) is the authorized budget assigned to the scheduled work to be accomplished for a schedule activity or Work Breakdown Structure (WBS) component. What is ACWP (or AC)? Actual cost of work performed (ACWP) or
Actual Cost (AC) is the total costs actually incurred and recorded in accomplishing work performed during a given time period for a schedule activity. It is the cost of the work to date, including direct and indirect costs. AC is money that has actually been expended to date.
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Question #45
Ben is the project manager of the NHF Project for his organization. Some delays early in the project have caused the project schedule to slip by nearly 15 percent.
Management would like Ben to find a method to recoup the schedule slippage and to get the project back on track. Management is risk-adverse with this project.
Which of the following methods should Ben avoid to recoup the project time?
Management would like Ben to find a method to recoup the schedule slippage and to get the project back on track. Management is risk-adverse with this project.
Which of the following methods should Ben avoid to recoup the project time?
- ACrashing
- BFast tracking
- CCritical chain methodology
- DAdding lead time
Correct Answer:
B
Of all the choices, Ben should avoid fast tracking, as it allows complete phases of the project to overlap, and this increases project risks. Management wants to avoid risks, so fast tracking would not be helpful. Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope.
Incorrect Answers:
A: Crashing adds people and costs but is relatively safe in regard to risks.
C: Critical chain is not a schedule compression technique and would not necessarily help the project get back on schedule.
D: Lead time, similar to fast tracking, can increase project risks; however, fast tracking is more risky than lead time. Lead time allows individual activities to overlap, while fast tracking allows entire project phases to overlap.
B
Of all the choices, Ben should avoid fast tracking, as it allows complete phases of the project to overlap, and this increases project risks. Management wants to avoid risks, so fast tracking would not be helpful. Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope.
Incorrect Answers:
A: Crashing adds people and costs but is relatively safe in regard to risks.
C: Critical chain is not a schedule compression technique and would not necessarily help the project get back on schedule.
D: Lead time, similar to fast tracking, can increase project risks; however, fast tracking is more risky than lead time. Lead time allows individual activities to overlap, while fast tracking allows entire project phases to overlap.
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Question #46
Laura is the project manager for her organization and management has requested her to create a report on her project's performance. Laura needs to analyze her current project performance and then compare it against what, in order to create a performance report?
- ACost variances and Cost Performance Index
- BScope baseline
- CPerformance measurement baseline
- DSchedule variances, planned value, and the Schedule Performance Index
Correct Answer:
C
The performance measurement baseline, which can be comprised of cost, scope, and schedule, is the foundation for creating a performance report.
Incorrect Answers:
A: Cost variances and the cost performance index are cost values that must be considered along with the scope performance and schedule performance.
B: The scope baseline will only reflect the performance of the scope, whereas performance reports typically need scope, time, and cost as its foundation.
D: Only reporting performance on the schedule is not enough for a performance report. Laura should also report on scope and cost at a minimum.
C
The performance measurement baseline, which can be comprised of cost, scope, and schedule, is the foundation for creating a performance report.
Incorrect Answers:
A: Cost variances and the cost performance index are cost values that must be considered along with the scope performance and schedule performance.
B: The scope baseline will only reflect the performance of the scope, whereas performance reports typically need scope, time, and cost as its foundation.
D: Only reporting performance on the schedule is not enough for a performance report. Laura should also report on scope and cost at a minimum.
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Question #47
Which of the following documents captures and defines the work activities, deliverables, and a timeline that a vendor will execute against in performance of work for a customer?
- AProject charter
- BScope of statement
- CSOW
- DWBS
Correct Answer:
C
A statement of work (SOW) is a document that captures and defines the work activities, deliverables and timeline that a vendor will execute against in performance of work for a customer. Detailed requirements and pricing are usually specified in it, along with many other terms and conditions. SOW is a narrative description of products or services to be supplied by the project. For internal projects, the project initiator or sponsor provides the statement of work based on business needs, product, or service requirements. For external projects, the statement of work can be received from the customer as part of a bid document.
Incorrect Answers:
A: Project charter is a document that formally authorizes a project manager to work on a project.
B: Scope of statement gives the narrative description of the project scope.
D: WBS is a tool that defines a project and groups the project discrete work in a way that helps organize and define the total work scope.
C
A statement of work (SOW) is a document that captures and defines the work activities, deliverables and timeline that a vendor will execute against in performance of work for a customer. Detailed requirements and pricing are usually specified in it, along with many other terms and conditions. SOW is a narrative description of products or services to be supplied by the project. For internal projects, the project initiator or sponsor provides the statement of work based on business needs, product, or service requirements. For external projects, the statement of work can be received from the customer as part of a bid document.
Incorrect Answers:
A: Project charter is a document that formally authorizes a project manager to work on a project.
B: Scope of statement gives the narrative description of the project scope.
D: WBS is a tool that defines a project and groups the project discrete work in a way that helps organize and define the total work scope.
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Question #48
A construction company is about to start a new project. It requires hiring a project manager for this project. Which of the following are the most important skills that a person must have to be selected as a project manager?
- AProblem solving
- BTeam building and human resources
- CLeading
- DCommunication
- ENegotiation and influential
Correct Answer:
D
A good project manager must have all of the above mentioned skills. Out of these, the communication skills are the most important skills for a project manager.
Communications skills are part of general management skills and are used to exchange information. Communication has many dimensions: Written and oral, listening, and speaking Internal (within the project) and external (customer, the media, the public) Formal (reports, briefings) and informal (memos, ad hoc conversations) Vertical (up and down the organization) and horizontal (with peers) Communication is the most important skill that a project manager must possess. It is the single most important characteristics of a top-class project manager. Project managers must communicate well in order to integrate and maximize the performance of team members. Oral and written communications are the backbone of every successful project. During different phases of a project, a project manager requires to communicate through different manners (for example, documentation, meeting updates, etc.) and he must ensure that the information communicated is explicit, clear, and complete.
Incorrect Answers:
A, B, C, E: All these mentioned skills make a person a good project manager. Communication skills top the list. What are organizational skills? Organizational skills are part of management skills to organize various aspects of a project in order to complete it successfully. A good project manager uses these skills to successfully organize his meetings, as well as to keep documentations, quotes, contracts, etc., which can be fetched at any given moment. Organizational skills also include planning and time management skills. What are budgeting skills? Budgeting skills include the knowledge of finance and accounting principles. A project manager must possess these skills in order to perform cost estimates for project budgeting. Reading and understanding quotes, preparing purchase orders, and reconciling purchase invoices are all part of budgeting skills. In order to make the budget of a project, the project manager must have excellent budgeting skills. What are problem solving skills? Problem solving skills include the ability to define and analyze problems, and to take decisions in order to solve the problems by implementing those decisions. Every project manager must possess strong problem solving skills. Problem solving is a two-fold process: Defining the problem Taking a decision and then implementing it. A project manager is responsible for determining the best course of action to take in order to resolve the problem. What are negotiating and influencing skills? Negotiating skills includes demanding and convincing others for the rightful thing or act. A project manager needs this skill to negotiate on projects in almost every area such as scope definitions, budgets, contracts, resource assignments, schedules, etc. Influencing skills include the convincing power of a person. It is an ability to change minds and the course of events. A good project manager requires these skills to utilize them in all areas of project management.
D
A good project manager must have all of the above mentioned skills. Out of these, the communication skills are the most important skills for a project manager.
Communications skills are part of general management skills and are used to exchange information. Communication has many dimensions: Written and oral, listening, and speaking Internal (within the project) and external (customer, the media, the public) Formal (reports, briefings) and informal (memos, ad hoc conversations) Vertical (up and down the organization) and horizontal (with peers) Communication is the most important skill that a project manager must possess. It is the single most important characteristics of a top-class project manager. Project managers must communicate well in order to integrate and maximize the performance of team members. Oral and written communications are the backbone of every successful project. During different phases of a project, a project manager requires to communicate through different manners (for example, documentation, meeting updates, etc.) and he must ensure that the information communicated is explicit, clear, and complete.
Incorrect Answers:
A, B, C, E: All these mentioned skills make a person a good project manager. Communication skills top the list. What are organizational skills? Organizational skills are part of management skills to organize various aspects of a project in order to complete it successfully. A good project manager uses these skills to successfully organize his meetings, as well as to keep documentations, quotes, contracts, etc., which can be fetched at any given moment. Organizational skills also include planning and time management skills. What are budgeting skills? Budgeting skills include the knowledge of finance and accounting principles. A project manager must possess these skills in order to perform cost estimates for project budgeting. Reading and understanding quotes, preparing purchase orders, and reconciling purchase invoices are all part of budgeting skills. In order to make the budget of a project, the project manager must have excellent budgeting skills. What are problem solving skills? Problem solving skills include the ability to define and analyze problems, and to take decisions in order to solve the problems by implementing those decisions. Every project manager must possess strong problem solving skills. Problem solving is a two-fold process: Defining the problem Taking a decision and then implementing it. A project manager is responsible for determining the best course of action to take in order to resolve the problem. What are negotiating and influencing skills? Negotiating skills includes demanding and convincing others for the rightful thing or act. A project manager needs this skill to negotiate on projects in almost every area such as scope definitions, budgets, contracts, resource assignments, schedules, etc. Influencing skills include the convincing power of a person. It is an ability to change minds and the course of events. A good project manager requires these skills to utilize them in all areas of project management.
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Question #49
Which of the following individuals has a management role in a core business area, such as research and development, design, manufacturing, provisioning, testing, or maintenance?
- AFunctional manager
- BOperations manager
- CProject manager
- DSeller
Correct Answer:
B
The role of operations manager is to perform various management roles in a core business area, such as research and development, design, manufacturing, provisioning, testing, or maintenance. The operations manager directly deals with constructing and maintaining the saleable products or services of the enterprise.
Incorrect Answers:
A: The role of a functional manager is to perform various management roles within an administrative or functional area of the business, such as human resources, finance, accounting, or procurement. He is assigned his own permanent staff to carry out the ongoing work. He should have a clear directive to manage all tasks within his functional area of responsibility.
C: A project manager is an expert in the field of project management. He is responsible for the entire project from inception to completion. The project manager leads the team and helps negotiate the multiple relationships within any project whether with clients, team members, firm principals or any variety of partners and functions as the hub of a project.
D: Seller is also known as a vendor, supplier or contractor. They are external company's elements that enter into a contractual agreement to provide components or services necessary for the project.
B
The role of operations manager is to perform various management roles in a core business area, such as research and development, design, manufacturing, provisioning, testing, or maintenance. The operations manager directly deals with constructing and maintaining the saleable products or services of the enterprise.
Incorrect Answers:
A: The role of a functional manager is to perform various management roles within an administrative or functional area of the business, such as human resources, finance, accounting, or procurement. He is assigned his own permanent staff to carry out the ongoing work. He should have a clear directive to manage all tasks within his functional area of responsibility.
C: A project manager is an expert in the field of project management. He is responsible for the entire project from inception to completion. The project manager leads the team and helps negotiate the multiple relationships within any project whether with clients, team members, firm principals or any variety of partners and functions as the hub of a project.
D: Seller is also known as a vendor, supplier or contractor. They are external company's elements that enter into a contractual agreement to provide components or services necessary for the project.
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Question #50
John is the project manager for his organization. He has created a status dashboard for his stakeholders. What is a status dashboard?
- AIt is a report that details the current status of risks and issues.
- BIt is a software application that allows stakeholders to view the project manager's performance.
- CIt is a web-based tool to inspect the project deliverables for performance.
- DIt is a report that reflects the overall performance of scope, schedule, quality, cost, or other project performance metrics.
Correct Answer:
D
Of all the choices, the best explanation is that a dashboard is a report for quick review of the project's performance metrics. While there are some software solutions, they still focus on the key performance criteria of the project.
Incorrect Answers:
A: A status report could include the details of the project's risks and issues, but usually not the dashboard.
B: Dashboards focus on the performance of the project's key performance factors, not the project manager.
C: This answer defines the definition of quality control, not the dashboard's review of project performance.
D
Of all the choices, the best explanation is that a dashboard is a report for quick review of the project's performance metrics. While there are some software solutions, they still focus on the key performance criteria of the project.
Incorrect Answers:
A: A status report could include the details of the project's risks and issues, but usually not the dashboard.
B: Dashboards focus on the performance of the project's key performance factors, not the project manager.
C: This answer defines the definition of quality control, not the dashboard's review of project performance.
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