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pmp® exam practice test and study guide

PMP Exam Prep 8th Edition Rita Mulcahy - Solutions

The difference between the cost baseline and the cost budget can be BEST described as: A. The management reserves. B. The contingency reserves. C. The project cost estimate. D. The cost account.
Identified risks are: A. An input to the Estimate Costs process. B. An output of the Estimate Costs process. C. Not related to the Estimate Costs process. D. Both an input to and an output of the Estimate Costs process.
Earned value measurement is an example of: A. Performance reporting. B. Planning control. C. Ishikawa diagrams. D. Integrating the project components into a whole.
Although the stakeholders thought there was enough money in the budget, halfway through the project the cost performance index (CPI) is 0.7. To determine the root cause, several stakeholders audit the project and discover the project cost budget was estimated analogously. Although the activity
A manufacturing project has a schedule performance index (SPI) of 0.89 and a cost performance index (CPI) of 0.91. Generally, what is the BEST explanation for why this occurred? A. The scope was changed. B. A supplier went out of business and a new one needed to be found. C. Additional equipment
A cost management plan contains a description of:A. The project costs.B. How resources are allocated.C. The budgets and how they were calculated.D. The WBS level at which earned value will be calculated.
Monitoring cost expended to date in order to detect variances from the plan occurs during:A. The creation of the cost change management plan.B. Recommending corrective actions.C. Updating the cost baseline.D. Project performance reviews.
The project manager is allocating overall cost estimates to individual activities to establish a baseline for measuring project performance. What process is this?A. Cost Management B. Estimate Costs C. Determine Budget D. Control Costs
You have just completed the initiating processes of a small project and are moving into project planning when a project stakeholder asks you for the project's budget and cost baseline. What should you tell her?A. The project budget can be found in the project charter, which has just been
Early in the life of your project, you are having a discussion with the sponsor about what estimating techniques should be used. You want a form of expert judgment, but the sponsor argues for analogous estimating. It would be BEST to: A. Agree to analogous estimating, as it is a form of expert
Your cost forecast shows that you will have a cost overrun at the end of the project. Which of the following should you do? A. Eliminate risks in estimates and reestimate. sooner. B. Meet with the sponsor to find out what work can be done soon C. Cut quality. D. Decrease scope.
You are having difficulty estimating the cost of a project. Which of the following BEST describes the most probable cause of your difficulty?A. Inadequate scope definition B. Unavailability of desired resources C. Lack of historical records from previous projects D. Lack of company processes
The cost contingency reserve should be:A. Hidden to prevent management from disallowing the reserve.B. Added to each activity to provide the customer with a shorter critical path.C. Maintained by management to cover cost overruns.D. Added to the costs of the project to account for risks.
Your project has a medium amount of risk and is not very well defined. The sponsor hands you a project charter and asks you to confirm that the project can be completed within the project cost budget. What is the BEST method to handle this?A. Build an estimate in the form of a range of possible
Which of the following are ALL items included in the cost management plan?A. The level of accuracy needed for estimates, rules for measuring cost performance, specifications for how duration estimates should be stated B. Specifications for how estimates should be stated, rules for measuring cost
Which of the following represents the estimated value of the work actually accomplished? A. Earned value (EV) B. Planned value (PV) C. Actual cost (AC) D. Cost variance (CV)
Which estimating method tends to be MOST costly for creating a project cost estimate? A. Bottom-up B. Analogous C. Parametric D. 50/50
Value analysis is performed to get: A. More value from the cost analysis. B. Management to buy into the project. C. The team to buy into the project. D. A less costly way of doing the same work.
Which type of cost is team training?A. Direct B. NPV C. Indirect D. Fixed
During which project management process group are budget forecasts created?A. Monitoring and controlling B. Planning C. Initiating D. Executing
A cost baseline is an output of which cost management process?A. Estimate Activity Resources B. Estimate Costs C. Determine Budget D. Control Costs
A rough order of magnitude estimate is made during which project management process group? A. Planning B. Closing C. Executing D. Initiating
Which of the following is an example of a parametric estimate? A. Dollars per module B. Learning bend C. Bottom-up D. CPM
Which of the following is NOT needed in order to come up with a project estimate? A. A WBS B. A network diagram C. Risks D. Change requests
A schedule performance index (SPI) of 0.76 means:A. You are over budget.B. You are ahead of schedule.C. You are progressing at 76 percent of the rate originally planned.D. You are progressing at 24 percent of the rate originally planned.
A cost performance index (CPI) of 0.89 means:A. At this time, we expect the total project to cost 89 percent more than planned.B. When the project is completed, we will have spent 89 percent more than planned.C. The project is progressing at 89 percent of the rate planned.D. The project is getting
Cost performance measurement is BEST done through which of the following?A. Asking for a percent complete from each team member and reporting that in the monthly progress report B. Calculating earned value and using the indexes and other calculations to report past performance and forecast future
The main focus of life cycle costing is to:A. Estimate installation costs.B. Estimate the cost of operations and maintenance.C. Consider installation costs when planning the project costs.D. Consider operations and maintenance costs in making project decisions.
All of the following are outputs of the Estimate Costs process EXCEPT: A. An understanding of the cost risk in the work that has been estimated. B. The prevention of inappropriate changes from being included in the cost baseline. C. An indication of the range of possible costs for the project. D.
Analogous estimating: A. Uses bottom-up estimating techniques. B. Is used most frequently during project executing. C. Uses top-down estimating techniques. D. Calculates estimates using actual detailed historical costs.
The customer responsible for overseeing your project asks you to provide a written cost estimate that is 30 percent higher than your estimate of the project's cost. He explains that the budgeting process requires managers to estimate pessimistically to ensure enough money is allocated for projects.
If earned value (EV) = 350, actual cost (AC) = 400, and planned value (PV) = 325, what is cost variance (CV)?A. 350 B. -75 C. 400 D. -50
Estimate at completion (EAC) is a periodic evaluation of:A. The cost of work completed.B. The value of work performed.C. The anticipated total cost at project completion.D. What it will cost to finish the project.
One common way to compute estimate at completion (EAC) is to take the budget at completion(BAC) and:A. Divide by SPI.B. Multiply by SPI.C. Multiply by CPI.D. Divide by CPI.
During project executing, a large number of changes are made to the project. The project manager should:A. Wait until all changes are known and print out a new schedule.B. Make approved changes as needed, but retain the schedule baseline.C. Make only the changes approved by management.D. Talk to
Which of the following is a benefit of an analogous project estimate?A. It will be closer to what the work will actually require.B. It is based on a detailed understanding of what the work requires.C. It gives the project team an understanding of management's expectations.D. It helps the project
Rearranging resources so that a constant number of resources is used each month is called:A. Crashing.B. Floating.C. Leveling.D. Fast tracking.
Senior management is complaining that they are not able to easily determine the status of ongoing projects in the organization. Which of the following types of reports would help provide summary information to senior management?A. Detailed cost estimates B. Project management plans C. Bar charts D.
A project manager for a small construction company has a project that was budgeted for US $130,000 over a six-week period. According to her schedule, the project should have cost US $60,000 to date. However, it has cost US $90,000 to date. The project is also behind schedule, because the original
The project is calculated to be completed four days after the desired completion date. You do not have access to additional resources. The project is low risk, the benefit cost ratio is expected to be 1.6, and the dependencies are preferential. Under these circumstances, what is the BEST thing to
An activity has an early start (ES) of day 3, a late start (LS) of day 13, an early finish (EF) of day 9, and a late finish (LF) of day 19.The activity:A. Is on the critical path.B. Has a lag.C. Is progressing well.D. Is not on the critical path.
A team member from research and development tells you that her work is too creative to provide you with a fixed single estimate for the activity. You both decide to use the average labor hours to develop a prototype (from past projects). This is an example of which of the following?A. Parametric
You are the project manager for a new product development project that has four levels in the work breakdown structure. The network diagram and duration estimates have been created, and a schedule has been developed and compressed. Which time management activity should you do NEXT?A. Control
A new product development project has four levels in the work breakdown structure and has been sequenced using the precedence diagramming method. The activity duration estimates have been received. What should be done NEXT? A. Create an activity list. B. Begin the work breakdown structure. C.
The WBS, estimates for each work package, and the network diagram are completed. The NEXT thing for the project manager to do is: A. Sequence the activities. B. Validate that they have the correct scope. C. Create a preliminary schedule and get the team's approval. D. Complete risk management.
A project manager is using weighted average duration estimates to perform schedule network analysis. Which type of mathematical analysis is being used?A. Critical path method B. Beta distribution C. Monte Carlo D. Resource leveling
A project manager is taking over a project from another project manager during project planning.If the new project manager wants to see what the previous project manager planned for managing changes to the schedule, it would be BEST to look at the:A. Communications management plan.B. Update
A project manager has received activity duration estimates from his team. Which of the following does he need in order to complete the Develop Schedule process?A. Change requests B. Schedule change control system C. Recommended corrective actions D. Reserves
You have a project with the following activities: Activity A takes 40 hours and can start after the project starts. Activity B takes 25 hours and should happen after the project starts. Activity C must happen after activity A and takes 35 hours. Activity D must happen after activities B and C and
Based on the following, if you needed to shorten the duration of the project, which activity would you try to shorten?A. Activity B B. Activity D C. Activity H D. Activity C Activity Preceding Activity Duration in Weeks Start None 0 A Start 1 B Start 2 C Start 6 D A 10 E B, C 1 F C 2 G D H E 3 9 I
You are a project manager on a US $5,000,000 software development project. While working with your project team to develop a network diagram, your data architects suggest that quality could be improved if the data model is approved by senior management before moving on to other design elements.
You are a project manager on a US $5,000,000 software development project. While working with your project team to develop a network diagram, you notice a series of activities that can be worked in parallel but must finish in a specific sequence. What type of activity sequencing method is required
During project planning, you estimate the time needed for each activity and then add up the estimates to create the project estimate. You commit to completing the project by this date. What is wrong with this scenario? A. The team did not create the estimate, and estimating takes too long using
A project manager is in the middle of executing a very large construction project when he discovers the time needed to complete the project is longer than the time available. What is the BEST thing to do? A. Cut product scope. B. Meet with management and tell them the required date cannot be met.
Which of the following processes includes asking team members about the time estimates for their activities and reaching agreement on the calendar date for each activity? A. Sequence Activities B. Develop Schedule C. Define Scope D. Develop Project Charter
In attempting to complete the project faster, the project manager looks at the cost associated with crashing each activity. The BEST approach to crashing would also include looking at the:A. Risk impact of crashing each activity.B. Customer's opinion of which activities to crash.C. Boss's opinion
Which of the following is the BEST thing to do when asked to complete a project two days earlier than planned?A. Tell senior management that the project's critical path does not allow the project to be finished earlier.B. Tell your boss.C. Meet with the team to look at options for crashing or fast
Your project management plan results in a project schedule that is too long. If the project network diagram cannot change but you have extra personnel resources, what is the BEST thing to do?A. Fast track the project.B. Level the resources.C. Crash the project.D. Perform Monte Carlo analysis.
When is a milestone chart used instead of a bar chart?A. Project planning B. Reporting to team members C. Reporting to management D. Risk analysis
If project time and cost are not as important as the number of resources used each month, which of the following is the BEST thing to do? A. Perform a Monte Carlo analysis. B. Fast track the project. C. Perform resource optimization. D. Analyze the life cycle costs.
A project has three critical paths. Which of the following BEST describes how this affects the project? A. It makes it easier to manage. B. It increases the project risk. C. It requires more people. D. It makes it more expensive.
The float of an activity is determined by: A. Performing a Monte Carlo analysis. B. Determining the waiting time between activities. C. Determining lag. D. Determining the length of time the activity can be delayed without delaying the critical path.
Which of the following BEST describes the relationship between standard deviation and risk?A. There is no relationship.B. Standard deviation tells you if the estimate is accurate.C. Standard deviation tells you how uncertain the estimate is.D. Standard deviation tells you if the estimate includes a
What is the duration of a milestone?A. It is shorter than the duration of the longest activity.B. It is shorter than the activity it represents.C. It has no duration.D. It is the same length as the activity it represents.
Which of the following is CORRECT?A. The critical path helps prove how long the project will take.B. There can be only one critical path.C. The network diagram will change every time the end date changes.D. A project can never have negative float.
Which of the following is the BEST project management tool to use to determine the longest time the project will take?A. Work breakdown structure B. Network diagram C. Bar chart D. Project charter
Lag means: A. The amount of time an activity can be delayed without delaying the project finish date. B. The amount of time an activity can be delayed without delaying the early start date of its successor. C. Waiting time. D. The product of a forward and backward pass.
A heuristic is BEST described as a: A. Control tool. B. Scheduling method. C. Planning tool. D. Generally accepted rule.
If the optimistic estimate for an activity is 12 days, and the pessimistic estimate is 18 days, what is the standard deviation of this activity?A. 1 B. 1.3 C. 6 D. 3
Which of the following are GENERALLY illustrated BETTER by bar charts than network diagrams?A. Logical relationships B. Critical paths C. Resource trade-offs D. Progress or status
A dependency requiring that design be completed before manufacturing can start is an example of a(n):A. Discretionary dependency.B. External dependency.C. Mandatory dependency.D. Scope dependency.
To control the schedule, a project manager is reanalyzing the project to predict project duration.She does this by analyzing the sequence of activities with the least amount of scheduling flexibility.What technique is she using?A. Critical path method B. Flowchart C. Precedence diagramming D. Work
Which of the following BEST describes product analysis? A. Working with the customer to determine the product description B. Mathematically analyzing the quality desired for the project C. Gaining a better understanding of the product of the project in order to create the project scope statement D.
Which of the following BEST describes the Validate Scope process? A. It provides assurances that the deliverable meets the specifications, is an input to the project management plan, and is an output of Control Quality. B. It ensures the deliverable is completed on time, ensures customer
Which of the following is CORRECT in regard to the Control Scope process? A. Effective scope definition can lead to a more complete project scope statement. B. The Control Scope process must be done before scope planning. C. The Control Scope process must be integrated with other control processes.
Which of the following can create the MOST misinterpretation of the project scope statement? A. Imprecise language B. Poor pattern, structure, and chronological order C. Small variations in size of work packages or detail of work D. Too much detail
Validate Scope is closely related to:A. Control Quality.B. Sequence Activities.C. Perform Quality Assurance.D. Time Management.
The cost performance index (CPI) on the project is 1.13, and the benefit cost ratio is 1.2. The project scope was created by the team and stakeholders. Requirements on the project have been changing throughout the project. No matter what the project manager has tried to accomplish in managing the
A scope change has been suggested by one of the stakeholders on the project. After careful consideration and a lot of arguing, the change control board has decided to reject the change.What should the project manager do?A. Support the stakeholder by asking the board for the reason for the
Which of the following is an output of the Collect Requirements process?A. Requirements traceability matrix B. Project scope statement C. Work breakdown structure D. Change requests
The development of the scope baseline can BEST be described as involving: A. The functional managers. B. The project team. C. All the stakeholders. D. The project expediter.
During the completion of project work, the sponsor asks the project manager to report on how the project is going. In order to prepare the report, the project manager asks all the team members what percent complete their work is. There is one team member who has been hard to manage from the
One of the stakeholders on the project contacts the project manager to discuss some additional scope they would like to add to the project. The project manager asks for details in writing and then works through the Control Scope process. What should the project manager do NEXT when the evaluation
All of the following are parts of the scope baseline EXCEPT the: A. Scope management plan. B. Project scope statement. C. Work breakdown structure. D. WBS dictionary.
You are managing a six-month project and have held bi-weekly meetings with your project stakeholders. After five-and-a-half months of work, the project is on schedule and budget, but the stakeholders are not satisfied with the deliverables. This situation will delay the project completion by one
The construction phase of a new software product is near completion. The next phases are testing and implementation. The project is two weeks ahead of schedule. Which of the following processes should the project manager be MOST concerned with before moving into the final phase? A. Validate Scope
The MAIN purpose of writing a user story is: A. To document features or functions required by stakeholders. B. To create a record of issues encountered on the project. C. To perform what-if analysis. D. To communicate progress.
A project manager may use. to make sure the team members clearly know what work is included in each of their work packages. A. The project scope statement B. The product scope C. The WBS dictionary D. The schedule
To manage a project effectively, work should be broken down into small pieces. Which of the following does NOT describe how far to decompose the work? A. Until it has a meaningful conclusion B. Until it cannot be logically subdivided further C. Until it can be done by one person D. Until it can be
A new project manager has asked you for advice on creating a work breakdown structure. After you explain the process to her, she asks you what software she should use to create the WBS and what she should do with it when it is completed. You might respond that it is not the picture that is the most
You have just joined the project management office after five years of working on projects. One of the things you want to introduce to your company is the value of creating and utilizing work breakdown structures. Some of the project managers are angry that you are asking them to do "extra work."
The project is mostly complete. The project has a schedule variance of 300 and a cost variance of -900. All but one of the quality control inspections have been completed and all have met the quality requirements. All items in the issue log have been resolved. Many of the resources have been
When should the Validate Scope process be done? A. At the end of the project B. At the beginning of the project C. At the end of each phase of the project D. During the planning processes
During a project team meeting, a team member suggests an enhancement to the scope that is beyond the scope of the project charter. The project manager points out that the team needs to concentrate on completing all the work and only the work required. This is an example of:A. Change management
A new project manager is being mentored by a more experienced PMP-certified project manager.The new project manager is having difficulty finding enough time to manage the project because the project scope is being progressively elaborated. The PMP-certified project manager advises that the basic
During a meeting with some of the project stakeholders, the project manager is asked to add work to the project scope. The project manager had access to correspondence about the project before the project charter was signed and remembers that the project sponsor specifically denied funding for the
The program was planned years ago, before there was a massive introduction of new technology. While planning the next project in this program, the project manager has expanded the scope management plan because, as a project becomes more complex, the level of uncertainty in the scope: A. Remains the
During which part of the project management process is the project scope statement created? A. Initiating B. Planning C. Executing D. Monitoring and controlling
During project executing, a team member comes to the project manager because he is not sure what work he needs to accomplish on the project. Which of the following documents contains detailed descriptions of work packages?A. WBS dictionary B. Activity list C. Project scope statement D. Scope
Which of the following is a KEY output of the Validate Scope process?A. A more complete scope management plan B. Customer acceptance of project deliverables C. Improved schedule estimates D. An improved project management information system

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