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NEW QUESTION # 530
Success is measured by benefits realization for a:
- A. program
- B. strategic plan
- C. portfolio
- D. project
Answer: C
Explanation:
Explanation/Reference:
Explanation:
1.4.2 Portfolio Management
A portfolio refers to projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives. The projects or programs of the portfolio may not necessarily be interdependent or directly related. For example, an infrastructure firm that has the strategic objective of "maximizing the return on its investments" may put together a portfolio that includes a mix of projects in oil and gas, power, water, roads, rail, and airports. From this mix, the firm may choose to manage related projects as one program. All of the power projects may be grouped together as a power program. Similarly, all of the water projects may be grouped together as a water program.
Thus, the power program and the water program become integral components of the enterprise portfolio of the infrastructure firm.
NEW QUESTION # 531
An example of a group decision-ma king technique is:
- A. Majority.
- B. Affinity diagram.
- C. Multi-criteria decision analysis.
- D. Nominal group technique.
Answer: A
NEW QUESTION # 532
Which of these is true of a project schedule?
- A. Project schedules should typically allow for flexibility during the project
- B. Project schedules which are iterative can extend longer than four weeks
- C. Project Schedule Management processes are discrete and don't overlap
- D. Project schedules must always contain milestone lists and activity attributes
Answer: A
NEW QUESTION # 533
In which Project Cost Management process is work performance data included?
- A. Estimate Costs
- B. Control Costs
- C. Plan Cost Management
- D. Determine Budget
Answer: B
Explanation:
Section: Volume E
NEW QUESTION # 534
Which of the following is the process of identifying the specific actions to be performed to produce the project deliverables?
- A. Estimate Activity Durations
- B. Sequence Activities
- C. Define Activities
- D. Activity Attributes
Answer: C
Explanation:
Section: Volume E
Explanation
Explanation:
Process: 6.2 Define Activities
Definition: The process of identifying and documenting the specific actions to be performed to produce the project deliverables.
Key Benefit: The key benefit of this process is to break down work packages into activities that provide a basis for estimating, scheduling, executing, monitoring, and controlling the project work.
Inputs
1. Schedule management plan
2. Scope baseline
3. Enterprise environmental factors
4. Organizational process assets
Tools & Techniques
1. Decomposition
2. Rolling wave planning
3. Expert judgment
Outputs
1. Activity list
2. Activity attributes
3. Milestone list
NEW QUESTION # 535
The technique of subdividing project deliverables into smaller, more manageable components until the work and deliverables are defined to the work package level is called:
- A. Create WBS.
- B. a control chart.
- C. baseline.
- D. decomposition.
Answer: D
NEW QUESTION # 536
A project is just beginning, and management creates a long list of potential stakeholders. Which statement about identifying and engaging stakeholders is correct?
- A. Stakeholder satisfaction is the most important goal, and project objectives should be considered a secondary priority.
- B. The project manager should identify and deal with stakeholders only during the execution phase.
- C. The project manager should focus on project objectives and deal with stakeholders as a secondary priority.
- D. Stakeholder satisfaction should be identified immediately and managed as a project objective.
Answer: D
NEW QUESTION # 537
Which input to Collect Requirements is used to identify stakeholders who can provide information on requirements?
- A. Stakeholder management plan
- B. Project charter
- C. Stakeholder register
- D. Scope management plan
Answer: C
Explanation:
Explanation/Reference:
Explanation:
5.2.1.5 Stakeholder Register
Described in Section 13.1.3.1. The stakeholder register is used to identify stakeholders who can provide information on the requirements. The stakeholder register also captures major requirements and main expectations stakeholders may have for the project.
13.1.3.1 Stakeholder Register
The main output of the Identify Stakeholders process is the stakeholder register. This contains all details related to the identified stakeholders including, but not limited to:
Identification information. Name, organizational position, location, role in the project, contact
information;
Assessment information. Major requirements, main expectations, potential influence in the project,
phase in the life cycle with the most interest; and
Stakeholder classification. Internal/external, supporter/neutral/resistor, etc.
The stakeholder register should be consulted and updated on a regular basis, as stakeholders may change-or new ones identified-throughout the life cycle of the project.
Process: 5.2 Collect Requirements
Definition: The process of determining, documenting, and managing stakeholder needs and requirements to meet project objectives.
Key Benefit: The key benefit of this process is that it provides the basis for defining and managing the project scope including product scope.
Inputs
1. Scope management plan
2. Requirements management plan
3. Stakeholder management plan
4. Project charter
5. Stakeholder register
Tools & Techniques
1. Interviews
2. Focus groups
3. Facilitated workshops
4. Group creativity techniques
5. Group decision-making techniques
6. Questionnaires and surveys
7. Observations
8. Prototypes
9. Benchmarking
10.Context diagrams
11.Document analysis
Outputs
1. Requirements documentation
2. Requirements traceability matrix
NEW QUESTION # 538
Which are the main objectives of Project Risk Management?
- A. Increase the probability of positive risks and eliminate all negative risks
- B. Increase the probability of positive risks and decrease the probability of negative risks
- C. Identify positive and negative risks
- D. Avoid all kind of risks
Answer: C
NEW QUESTION # 539
If a project manager effectively manages project knowledge, a key benefit is that:
- A. new knowledge is added to organizational process assets
- B. all stakeholders have access to the same information
- C. the project team is able to understand the project status
- D. project stakeholders have a clear picture of the project
Answer: D
Explanation:
Section: Volume E
Explanation/Reference: https://mymanagementguide.com/project-knowledge-management-the-importance-of-managing- project-knowledge/
NEW QUESTION # 540
The three processes of Project Cost Management are:
- A. Estimate Costs, Control Schedule, and Control Costs.
- B. Determine Budget, Control Schedule, and Estimate Activity Resources.
- C. Estimate Costs, Determine Budget, and Estimate Activity Resources.
- D. Estimate Costs, Determine Budget, and Control Costs.
Answer: D
Explanation:
Explanation/Reference:
Explanation:
7. Project Cost Management
7.1 Plan Cost Management
7.2 Estimate Costs
7.3 Determine Budget
7.4 Control Costs
NEW QUESTION # 541
Which can be used to determine whether a process is stable or has predictable performance?
- A. Histogram
- B. Flowchart
- C. Control chart
- D. Matrix diagram
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Control charts, are used to determine whether or not a process is stable or has predictable performance.
Upper and lower specification limits are based on requirements of the agreement. They reflect the maximum and minimum values allowed. There may be penalties associated with exceeding the specification limits. Upper and lower control limits are different from specification limits. The control limits are determined using standard statistical calculations and principles to ultimately establish the natural capability for a stable process. The project manager and appropriate stakeholders may use the statistically calculated control limits to identify the points at which corrective action will be taken to prevent unnatural performance. The corrective action typically seeks to maintain the natural stability of a stable and capable process. For repetitive processes, the control limits are generally set at ±3 s around a process mean that has been set at 0 s. A process is considered out of control when: (1) a data point exceeds a control limit; (2) seven consecutive plot points are above the mean; or (3) seven consecutive plot points are below the mean. Control charts can be used to monitor various types of output variables.
Although used most frequently to track repetitive activities required for producing manufactured lots, control charts may also be used to monitor cost and schedule variances, volume, and frequency of scope changes, or other management results to help determine if the project management processes are in control.
NEW QUESTION # 542
Plan-do-check-act is also known as:
- A. prevention over inspection.
- B. management responsibility,
- C. continuous improvement.
- D. statistical sampling.
Answer: C
NEW QUESTION # 543
Change requests are processed for review and disposition according to which process?
- A. Control Quality
- B. Monitor and Control Project Work
- C. Control Scope
- D. Perform Integrated Change Control
Answer: D
Explanation:
Section: Volume A
Explanation:
Process: 4.5 Perform Integrated Change Control
Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating their disposition. It reviews all requests for changes or modifications to project documents, deliverables, baselines, or the project management plan and approves or rejects the changes.
Key Benefit: The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans.
Inputs
1. Project management plan
2. Work performance reports
3. Change requests
4. Enterprise environmental factors
5. Organizational process assets
Tools & Techniques
1. Expert judgment
2. Meetings
3. Change control tools
Outputs
1. Approved change requests
2. Change log
3. Project management plan updates
4. Project documents updates
NEW QUESTION # 544
Which tools and techniques will a project manager use to develop a project charter?
- A. Expert judgment, data gathering. interpersonal and team skills, and meetings
- B. Lessons learned database. Interpersonal and team skills, cost baseline, and meetings
- C. Expert judgment, data gathering. scope statement, schedule baseline, and meetings
- D. Project manager experience, expert judgment, scope statement, and meetings
Answer: A
NEW QUESTION # 545
The process of prioritizing risks for further analysis or action is known as:
- A. Perform Quantitative Risk Analysis.
- B. Plan Risk Management.
- C. Perform Qualitative Risk Analysis.
- D. Plan Risk Responses.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Process: 11.3 Perform Qualitative Risk Analysis
Definition: The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
Key Benefit: The key benefit of this process is that it enables project managers to reduce the level of uncertainty and to focus on high-priority risks.
Inputs
1. Risk management plan
2. Scope baseline
3. Risk register
4. Enterprise environmental factors
5. Organizational process assets
Tools & Techniques
1. Risk probability and impact assessment
2. Probability and impact matrix
3. Risk data quality assessment
4. Risk categorization
5. Risk urgency assessment
6. Expert judgment
Outputs
1. Project documents updates
NEW QUESTION # 546
Which of the following documents allows the project manager to assess risks that may require near term action?
- A. Risk urgency assessment
- B. Contingency analysis report
- C. Probability and impact matrix
- D. Rolling wave plan
Answer: A
Explanation:
Explanation/Reference:
Explanation:
11.3.2.5 Risk Urgency Assessment
Risks requiring near-term responses may be considered more urgent to address. Indicators of priority may include probability of detecting the risk, time to affect a risk response, symptoms and warning signs, and the risk rating. In some qualitative analyses, the assessment of risk urgency is combined with the risk ranking that is determined from the probability and impact matrix to give a final risk severity rating.
NEW QUESTION # 547
What is the purpose of tailoring in project management?
- A. To let management know the project management will be done efficiency
- B. To ensure agile practices are embedded into project phases
- C. To select an appropriate team and its competencies for the project
- D. To select appropriate processes, tools & methodology for the project
Answer: D
NEW QUESTION # 548
A measure of cost performance that is required to be achieved with the remaining resources in order to meet a specified management goal and is expressed as the ratio of the cost needed for finishing the outstanding work to the remaining budget is known as the:
- A. cost performance index
- B. earned value management (EVM)
- C. budget at completion (BAC)
- D. to-complete performance index
Answer: D
Explanation:
Section: Volume C
Explanation:
TCPI = (BAC - EV)/(BAC - AC)
NEW QUESTION # 549
Which of the following correctly describes when organizations and stakeholders are willing to accept varying degrees of risk?
- A. Risk management
- B. Risk attitude
- C. Risk analysis
- D. Risk tolerance
Answer: D
NEW QUESTION # 550
Which contract type is least desirable to a vendor?
- A. Cost plus award fee (CPAF)
- B. Fixed price with economic price adjustment (FPEPA)
- C. Cost plus fixed fee (CPFF)
- D. Firm fixed price (FFP)
Answer: D
Explanation:
Section: Volume E
NEW QUESTION # 551
Which type of management focuses on ensuring that projects and programs are reviewed to prioritize resource allocation?
- A. Program
- B. Portfolio
- C. Project
- D. Functional
Answer: B
Explanation:
Section: Volume D
Explanation:
1.4.2 Portfolio Management
A portfolio refers to projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives. The projects or programs of the portfolio may not necessarily be interdependent or directly related.
For example, an infrastructure firm that has the strategic objective of "maximizing the return on its investments" may put together a portfolio that includes a mix of projects in oil and gas, power, water, roads, rail, and airports.
From this mix, the firm may choose to manage related projects as one program. All of the power projects may be grouped together as a power program. Similarly, all of the water projects may be grouped together as a water program.
Thus, the power program and the water program become integral components of the enterprise portfolio of the infrastructure firm.
NEW QUESTION # 552
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