PMP Exam Prep 8th Edition Rita Mulcahy - Solutions

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2. Questions with two or more r ight answers Questions that appear to have two, three, or even four right answers are a major complaint from many test takers. Many questions will list several choices that could reasonably be done, or that less-experienced or less-qualified project managers would be
I. Situational ques tion s 'Tilese questions demonstrate why having project management experience is critical to passing this exam. Such questions require you to integrate your real-world experience and your knowledge of the exam concepts. For example:Questfo11 You receive notification that a major
17.2 Exercise Think about it. As you approach your next project, will you consider an agile approach? What would be the reasons you should consider one? Write your answer in your Exercise Notebook.
17.1 Exercise Think about these principles. In your own words, describe what each principle means to you. Can you see how some of these might apply to your projects?Principle What does this mean to you?Our highest priority is to satisfy the customer through early and continuous delivery of valuable
16.4 Exercise Many people do not practice the breadth of project management practices described in the ECO and other PMI references on their real-world projects. This exercise is designed to help you uncover what you might be doing that represent differences between your real-world experience and
16.3 Exercise Now let’s switch it up for agile. For agile projects, read each scenario and write down what activity you are engaged in for the given scenario, or what tools or methods you would use to perform the activity. A variety of activities may fit the description for any one
16.2 Exercise If you found this exercise helpful, you may want to continue to test yourself on other processes not listed here, and review your answers against the process descriptions in this book. In this exercise for plan-driven projects, read each scenario and write down what process you are in
16.1 Exercise Here is a way to get more familiar with the project management processes from the Process Groups model perspective. In your Exercise Notebook, draw a chart with a header as shown here. For each process listed, fill in the appropriate information in each column. Do not worry if you do
15.3 Exercise Part II: Think again about the graphic in the previous exercise, with some of the external organizations or systems within which the new library will exist. While managing the new library project, what should the project manager be doing to monitor the external environment for
15.2 Exercise Part I: Review the graphic below with some of the external organizations or systems within which the new library will exist. Can you think of one change that might impact the project from each of these?Government regulations Publishing companies Local neighborhood and roadways New
15.1 Exercise Delivering value to a large number of stakeholders is difficult. One technique often used is a survey or questionnaire.Imagine the library project team wants to send out a questionnaire to the citizens who will have access to the new library, to determine the potential value. What
14.5 Exercise Answer the following questions about stakeholders in the library case study. After you have finished answering the questions, look to the next section for a good possible answer to each question.Question 1. What additional stakeholders might be considered ?2. How important is the
14.4 Exercise Read the following scenario and write down an analysis of the information that would be useful in answering an exam question based on this scenario. For example where are we in the project management process (initiating, planning, executing, or monitoring and closing)? What other
14.3 Exercise The exam will present scenarios for which you will have to choose the best answer. You can practice gathering information from these scenarios by doing this exercise. Read the following scenarios and write down your own analysis. What evidence do you see of where you are in the
14.2 Exercise If you’ve never planned stakeholder engagement, it can be difficult to imagine how you would go about doing this on an individual stakeholder (or group) level. Think about the various stakeholders involved on a project. The following table describes a few stakeholder descriptions
14.1 Exercise Let’s consider an example. Imagine you are managing a project to replace the online employee application process for your company. Your sponsor wants to streamline the process and encourage candidates with advanced technical experience to apply for jobs. Here is a preliminary
13.7 Exercise Here is another exercise to review what was discussed in this chapter. To pass the exam, you must understand the project managers role in procurements. After reading this chapter, describe the project manager s role. Write the answer in your Exercise Notebook.
13.6 Exercise Recreate the procurement management process by making a list in your Exercise Notebook of the key actions and of the artifacts resulting from Plan Procurement Management, Conduct Procurements, and Control Procurements.The answers to this exercise are listed after the next Trick of the
13.5 Exercise In your Exercise Notebook, describe what work must be done during procurement closure.
13.4 Exercise Select which choice wins in a contract dispute.CHOICE A CHOICE B L Contract language Or A memo drafted by one of the parties describing proposed changes after the contract is signed 2. Contract language Or A memo signed by both parties before the contract is signed that describes what
13.3 Exercise Hopefully, you have built a strong working relationship with the seller. But what if the seller has financial troubles, changes owners, or did not include pieces of the work in their estimate? In your Exercise Notebook, describe specific things you must watch out for and spend your
13.2 Exercise Answer the following questions for each of the contract types (cost-reimbursable, time and material, and fixedprice).Write the answers in your Exercise Notebook. (This is the most challenging exercise in this chapter. The questions are meant to be very difficult in order to further
13.1 Exercise In your Exercise Notebook, write the advantages and disadvantages of each form of contract from the perspective of the buyer. The forms are:• Fixed-price• Time and Material• Cost-reimbursable
12.8 Exercise Now let’s look at the library case study using an adaptive approach. The library software system upgrade also has some risks. Using the adaptive approach, risks will be planned into iterations as risk spikes or tests.Indicate the order in which the following risks should be
12.7 Exercise For each risk and response below, indicate if it is a threat or opportunity and note the type of response being proposed.Type of response Risk Threat or Opportunity Response(mitigate, avoid, enhance, etc.) Probability 1. New mayor or city council members decide to cut spending Build
12.6 Exercise The Risk Management Process There may be many questions about the process of risk management on the exam. The following exercise tests if you understand what you have read. In your Exercise Notebook draw seven columns with headings of the seven processes. Your table can be organized
12.5 Exercise In your Exercise Notebook, create a flowchart of the risk process from Identify Risks through Plan Risk Responses.
12.4 Exercise Imagine you are planning the manufacture of modifications to an existing product. Your analysis has come up with the following information. In your Exercise Notebook, calculate the cost contingency reserve for each of the following scenarios, and then calculate the total cost
12.3 Exercise Now let’s see if you can apply what you have learned. Identify the type of risk response strategy (avoid, mitigate the probability, mitigate the impact, transfer, exploit, enhance the probability, enhance the impact, share, escalate, or accept) being described. Write the answer in
12.2 Exercise A company is trying to determine if prototyping is worthwhile on a project. They have come up with the following impacts (see the diagram) of whether the equipment works or fails. Based on the information provided in the diagram, what is the expected monetary value of each option?
12.1 Exercise In your Exercise Notebook, calculate the expected monetary value for each of these work packages. The math is not difficult but completing this exercise will help you remember this calculation for the exam.Work Package Probability Impact Expected Monetary Value A 10% $20,000 B 30%
11.2 Exercise Give examples of the communication challenges the project manager may have with each of the stakeholder or stakeholder groups from our library case study. Suggest ideas for good communication plans.Stakeholder or What will be the communication How will the PM best communicate with
11.1 Exercise Test yourself! Write down in your Exercise Notebook what information needs to be communicated on a project.
10.2 Exercise Using our library example, match the work described with the Quality Management process (processes may be used more than once).1. Plan Quality Management 2. Manage Quality 3. Control Quality Work A. Ask the city council for their expectations about the quality levels of the library
10.1 Exercise Take time to research in this book the different methods that are created or used in each of the quality management processes. Then, in your Exercise Notebook, identify whether the following tools are used in planning, managing, and/or controlling quality. Remember that some tools and
9.7 Exercise Ulis exercise uses agile processes for the library case study. Read the scenario below and then complete the exercise by writing down the meanings of the given terms. Look up any terms for which you do not know the meaning, and do write them down. Writing them will help you learn them
9.6 Exercise Read the following case study and review the table to see some examples of what the project manager will do during each of the Cost Management processes.The city council reviewed a high-level recommendation for the new library (considered the charter for this project).The project
9.5 Exercise What is the AC if the CV is $10,000 and the EV is $97,000? Write the answer in your Exercise Notebook.
9.4 Exercise What is the SPI if the CV is $10,000, the SV is -$3,000, and the PV is $100,000? Write the answer in your Exercise Notebook.
9.3 The Fence Exercise You have a project to build a new fence. The fence has four sides equal in length. Each side is to take one day to build, and $ 1,000 has been budgeted per side. The sides are planned to be completed one after the other. Today is the end of day 3.Using the information in the
9.2 Exercise The cost performance index (CPI) and the schedule performance index (SPI) can be charted each month to show the project trends. Based on the diagram, would you be more concerned about cost or schedule if you were taking over this project from another project manager? Write the answer
9.1 Exercise This is an important topic so be sure to take your time to think this through. In your Exercise Notebook, list the actions a project manager may take to control costs and resources.
8.8 Exercise Try this exercise based on a case study using adaptive tools.The library software application needs to be upgraded. A backlog of requested features has been collected and prioritized in the following backlog. Review this list and with the information provided, draft a Product Roadmap
8.7 Exercise Review the list of work the project manager needs to do to create the project schedule. Here or in your Exercise Notebook indicate the order in which this work should be completed by placing the letter assigned to each item into the order table below. Also indicate which process this
8.6 Exercise Test yourself! In your Exercise Notebook, record the answers to the following questions.1. Under what circumstances would you use a network diagram?2. Under what circumstances would you use a milestone chart?3. Under what circumstances would you use a bar chart?
8.5 Exercise Consider the following question and write the answer. You may choose to do so in your Exercise Notebook.Management has said to get the project completed two weeks early. What is the best thing to do?A. Consult the project sponsor B. Crash C. Fast track D. Advise management of the
8.4 Exercise Test yourself. In your Exercise Notebook, draw a network diagram based on the following information, and then answer questions 1-7 below.You are the project manager for a new project and have figured out the following dependencies:• Activity 1 can start immediately and has an
8.3 Exercise As a project manager, you need to use the estimating data and other inputs to create a schedule that you will be able to stake your reputation on meeting. What do you need to do to create such a schedule? Write the answer in your Exercise Notebook.
8.2 Exercise (Beta Distribution)Calculate the expected activity duration using beta distribution. You may write the answer here or use your Exercise Notebook. All estimates are in hours.Activity P M 0 Expected Duration A 47 27 14 B 89 60 41 C 48 44 39 D 42 37 29
8.1 Exercise (Triangular Distribution)Calculate the expected activity duration using triangular distribution. You may write the answer here or use your Exercise Notebook. All estimates are in hours.Activity P M 0 Expected Duration A 47 27 14 B 89 60 41 C 48 44 39 D 42 37 29
7.7 Exercise In our library case study, the project manager who is overseeing the creation of the new community library has gathered requirements, but the stakeholders differ on what is needed (or not needed) and on what they would like to see in the new library. How might the project manager work
7.6 Exercise In your Exercise Notebook, list what you are doing to control and validate scope, and what you have when you’re done with the same processes.
7.5 Exercise In your Exercise Notebook, write the answer to this question: “What do I need before I can validate scope?”
7.4 Exercise What do you do with a WBS during executing and controlling the project? The WBS is created and used in planning but the exam also tests your knowledge of how it is used throughout the rest of the project. So, take some time to really think about this question. Write the answers in your
7.3 Exercise Test yourself! What are the benefits of a WBS? Write the answers in your Exercise Notebook.
7.2 Exercise What does a WBS contain and what is its value as part of the scope baseline? Write the answer in your Exercise Notebook.
7.1 Exercise This exercise describes some of the key actions involved in balancing stakeholder requirements. It goes beyond the Collect Requirements process and looks at this effort throughout the project. Spend time thinking about balancing requirements. This exercise will help you determine
6.5 Exercise Here or in your Exercise Notebook, write the initials of the key role responsible for solving each of the issues listed.Because much of the confusion for students is between roles of team members (T), the project manager (PM), the sponsor (SP), and the functional manager (FM), this
6.4 Exercise For each Resource Management process, give an example of the work the project manager on the library project should perform. Write the answers in your Exercise Notebook.Resources Process 1. Plan resource management 2. Estimate activity resources 3. Acquire team 4. Develop team 5.
6.3 Exercise In your Exercise Notebook, write down the answer to this question: What does a project manager need to do to develop a team? Before looking at the answer, write down all you can think of for developing the team. The exam will emphasize your understanding of the interpersonal and team
6.2 Exercise In the below table, identify which activities are involved in Estimate Activity Resources. Here or in your Exercise Notebook write “ Y” if the described action is part of the Estimate Activity Resources process. If it’s not, write “N.”Action: Is it part of Estimate Activity
6.1 Exercise If you have two different colored pens or highlighters available, use them to do the following. You want your markings on the ECO to be very visible.• Open your downloaded copy of the ECO. If you have not printed it, please do so now.• Then open the ECO to the People domain
5.4 Exercise Read each statement made to try to resolve a conflict, and determine which technique is being used.Description 1. “Do it my way!”2. “Let’s calm down and get the job done.”3. “Let us do a little of what both of you suggest.”4. “Let’s deal with this issue next
Think About It. Think about conflict. Is it bad? Should we spend time preventing the root causes of conflict?Who should resolve the conflict? Try to answer the questions just posed. Get them right, and you are likely to do well on this part of the exam.
5.3 Exercise Try this exercise to test yourself on the models we’ve covered so far. Identify which team model belongs to the following statements. Note, each model is used more than once.
5.2 Exercise Test yourself! What is the best type of communication in the following situations?Situation 1. Updating project communications strategies 2. Giving presentations to management 3. Trying to solve a complex problem 4. Updating the product backlog 5. Making notes regarding a telephone
5.1 Exercise Review the activities below, and determine whether they are mainly leadership or management based.1. Human resource management 2. Career planning 3. Team time tracking 4. Team member recognition 5. Task assignment 6. Team brainstorming 7. Planning workshops 8. Negotiating a contract
4.5 Exercise Review each description of work done by the project manager as part of Integration Management. In your Exercise Notebook, write down the integration process and the other project management constraints and categories(scope, schedule, cost, quality, communications, risk, stakeholders,
4.4 Exercise Test yourself! In your Exercise Notebook, list some common changes on projects and what you would do to manage each change.
4.3 Exercise What are some of the most likely project artifacts to be updated as an outcome of the Direct and Manage Project Work process? Write the answer in your Exercise Notebook.
4.2 Exercise Test yourself! In your Exercise Notebook, make a list of the specific actions required to create a project management plan that is bought into, approved, realistic, and formal.
4.1 Exercise Test yourself! Answer the following questions in your Exercise Notebook.• What does the project charter do for the project and the organization?• Why is it so necessary?
3.4 Exercise The following lists contain the responsibilities for each of the project roles. Read these lists carefully and check off each responsibility you think you truly understand. Completing this exercise will help you identify gaps so you can pay particular attention to understanding those
Question:An organization has a project with an initial budget of $1,000,000. It is half complete and has spent $2,000,000.Should the organization consider that it is already $1,000,000 over budget in determining whether to continue with the project?
Question:An organization has two projects to choose from: Project A with an NPV of $45,000 and Project B with an NPV of $85,000. What is the opportunity cost of selecting Project B?
3.3 Exercise Remember, you do not have to use accounting formulas to pass the exam (aside, possibly, from a present value question). But you do need to have a general understanding of what the terms mean. Test yourself! For each row of the following chart, write in your Exercise Notebook which
Question:What does a benefit-cost ratio of 1.7 mean?A. The costs are greater than the benefits.B. Revenue is 1.7 times the costs.C. Profit is 1.7 times the costs.D. Costs are 1.7 times the profit.
Question:There are two projects from which to choose: Project A with a payback period of six months and Project B with a payback period of eighteen months. Which one should the organization select?
Question:An organization has two projects from which to choose: Project A with an IRR of 21 percent and Project B with an IRR of 15 percent. Which one is a better option?
0 Question:An organization has two projects from which to choose. Project A will take three years to complete and has an NPV of $45,000. Project B will take six years to complete and has an NPV of $85,000. Which one is a better investment?
Question:Is the present value of $300,000 to be received three years from now, with an expected interest rate of 10 percent, more or less than $300,000?
3.2 Exercise Read each description of a PMO. Determine whether it is likely to be supporting, controlling, directive, or a combination of two or three. Write the answers in your Exercise Notebook.Description 1. Manages all projects throughout the organization 2. Provides support and guidance;
3.1 Exercise Test yourself! In your Exercise Notebook, list the advantages and disadvantages of each organizational structure:functional, project-oriented, and matrix. Understanding the differences between these structures will help you evaluate scenarios presented on the exam, and you’ll be able
4. Limited fill-in-the blank These types of questions will ask that you type the answer (represented by a blank space in the question) in a box given:Question Review the fishbone diagram for the problem: Increased customer complaints. Enter the letter indicating the area that includes the possible
3. Matching question Questions in this format will give you two columns of concepts to match. In the following example, the test taker would drag the cards in the “Action” column to to the center box that aligns with the “Order in which to perform” column.Question During a team
2. Hot spot questions These types of questions show you a graphic on which you will have to click a “hot spot”containing the correct answer:Question Review the Burnup Chart. The team’s velocity has averaged 4.6 story points per iteration with 27 points completed. The project scope was
1. Multiple responses answer Questions using this format ask you to choose two or three correct answers, as in this example:Question Several stakeholders have different opinions about the product requirements. Which two of the following techniques could the project manager use to bring the group to
8. Excessively wordy questions Instead of saying “The project is behind schedule,” the exam might use wordier phrasing such as “The project float was zero and has recently gone to negative 2.” Instead of saying “The team is not reporting properly,” the exam could say “The team has
Question A resource issue has come up on a construction project. Which of the following is the best way to deal with the problem?A. Go to the team, go to management, go to resources managers B. Go to resource managers, go to management, go to the customer C. Handle it yourself, go to the customer,
7. Questions with more than one item in each choice Let’s look at the following example:Question The seller has presented the project manager with a formal notification that the seller has been damaged by the buyers activities. The seller claims that the buyer’s slow response to the requested
6. Questions with a new approach to a known topic There will be many instances where you understand the topic but have never thought about it as described. For example:Question A product is being built iteratively on a new technology platform. When the project manager asks the team members about
5. Questions where understanding is important. Let’s look at the following question:Question The senior web designer on a project just came down with the flu in the middle of an iteration. What should the project manager do?A. Meet with the team to find out how much of the planned work will be
4. Questions using made-up terms Many people taking the exam expect that all the terms used as choices should mean something. That is not the case. Answer choices sometimes include made-up terms. If you consider yourself well prepared and see a term on the exam you do not know, chances are it is
3. Questions with extraneous information Not all information in a question will be relevant.Question Your next project involves managing an agile initiative to distribute new driver management software to your firm's taxi fleet. At this point the project steering committee is debating whether to
2. Questions with two or more right answers Multiple choice questions that appear to have two or more right answers are a major complaint from test takers. These questions, which list several choices that could reasonably be done, require analysis and the process of elimination to find the best
1. Situational questions These demonstrate why project management experience and knowledge of good practices are critical to passing this exam. Such questions require you to align your real-world experience with knowledge of the exam concepts. For example:Question The project manager receives
You are finalizing the monthly project status report due now to your manager when you discover that several project team members are not reporting actual hours spent on project activities. This results in skewed project statistics. What is the MOST appropriate action to take?A. Discuss the impacts
Three students from another country are working as interns on a project. The project manager has arranged for some games to play as team-building activities to help create a close-knit sense of team with the group members. At the event where the activities are taking place, the three students
Your company wants to open a plant in a country where the law stipulates that women can earn only 50 percent of what men earn. Under these circumstances, what should you recommend to your company? A. Do not open the plant. B. Meet with government officials and try to get a waiver that equalizes the
A project manager discovers a defect in a deliverable that is due to the customer under contract today. The project manager knows the customer does not have the technical understanding to notice the defect. The deliverable meets the contract requirements, but it does not meet the project manager's

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PMP Exam Prep 8th Edition Rita Mulcahy - Solutions

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