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pmp® exam practice test and study guide

PMP® Exam Practice Test And Study Guide 10th Edition Ginger Levin, J. LeRoy Ward - Solutions

Assume you have performed your stakeholder analysis and now are working to enhance it with a stakeholder engagement assessment matrix. Such a matrix shows the stakeholder’s current engagement level. These data enable—a. The project manager to prepare the stakeholder management planb. The
Having prepared stakeholder management plans on previous projects, you know it is positive to review the project management plan because it—a. Provides information as to how to plan appropriate ways to engage stakeholdersb. Contains information useful to ensure the stakeholder management plan is
Assume you are managing a project to implement an electronic medical record system in your ophthalmologist’s office. You have been working to identify your stakeholders to then make sure everyone is committed to it as some people have been working in this office for more than 20 years and are
One way to develop an understanding of major project stakeholders to exchange and analyze project information about roles and interests is to—a. Conduct interviewsb. Hold profile analysis meetingsc. Use questionnaires and surveysd. Conduct a stakeholder analysis and analyze the results with a
Assume you are beginning your project to develop a series of residential condominiums in your city and are identifying possible stakeholders. A key organizational process asset you can review is—a. Organizational cultureb. Organizational standardsc. Lessons learnedd. Local trends
Stakeholder management involves more than improving communications and requires more than just managing a team. This is because it—a. Contains detailed plans to ensure stakeholder requirements are satisfiedb. Describes how to best meet human resource requirementsc. Creates and maintains
Enterprise environmental factors are useful in many projects. In Plan Stakeholder Management an example of one of particular importance is—a. Lessons learnedb. Templates from previous stakeholder management plans from successful projectsc. Benchmarkingd. Organizational culture
Expert judgment is a best practice as a tool and technique in many project management processes, and the list of possible sources for experts varies by the organization and by its association with others. Once you have identified experts who you feel could be of assistance, you can—a. Use a focus
Stakeholder engagement must be controlled on a continuous basis for it to be effective. You realize a number of project documents can be useful for you as a project manager. An example is—a. Technical performance measuresb. Change logc. Actual costsd. Start and finish dates of schedule activities
You are a project manager working to foster stakeholder engagement, and you know a combination of interpersonal skills and general management skills is needed. An example of a key interpersonal skill in stakeholder engagement is—a. Facilitating consensusb. Influencing peoplec. Resolving
The stakeholder register should not be prepared only one time, but it should be updated regularly especially if—a. The stakeholder is not an active participantb. The stakeholder is not impacted by the projectc. The stakeholder does not read status updatesd. The stakeholder leads a corporate
Assume your stakeholder management plan has been approved. You now are working with your team to promote stakeholder engagement on your project. You explain in a team meeting its benefit is to—a. Clarify and resolve identified issuesb. Meet stakeholder needs and expectationsc. Obtain their
Assume you have identified your stakeholders and are preparing your stakeholder management plan. You are fortunate that your team is a colocated team as you are working on an internal project to reorganize your IT Department so it is focused more on its customers. The project sponsor is the Chief
In Plan Stakeholder Management, all organizational assets are used as inputs; however, which of the following are of particular importance?a. Organization culture and the political climateb. Practices and habits and templatesc. Lessons learned database and historical informationd. Organization’s
The salience model is one way to classify stakeholders. In it—a. Stakeholders’ power, urgency, and legitimacy are usedb. Stakeholders’ level of authority and concern are usedc. Stakeholders’ active involvement and power are usedd. Stakeholders’ influence and ability to effect changes are
Assume your construction project is for a small city with only 8,500 people. There has been opposition by many residents to it from the beginning, when the city commissioners approved it. The residents recognize they will be severely impacted as the new bridges are implemented, and during the
Assume you are managing the development of a construction project in your city to replace its five bridges so they are state of the art and meet updated safety standards because they originally were constructed 20 years ago. The design work has been completed. You have awarded subcontracts and are
Often in working as a project manager, it is easy to overlook key stakeholders. Assume you work for a device manufacturer and are working as the project manager for the next generation valve replacement. Your company has been a leader in this market, which means you have a lot of lessons learned
Work performance information is an output of Control Stakeholder Engagement. It includes a number of items, one of which is—a. Change requestsb. Issue logc. Documented lessons learnedd. Status of deliverables
Stakeholder engagement involves a number of critical activities. An example is—a. Ensuring goals are met through negotiation and communicationsb. Developing management strategies to engage them during the project’s life cyclec. Adjusting strategies and plans to engage stakeholders effectivelyd.
You realize that on projects, some stakeholders will not be as receptive as others to your project and actually can be negative from the beginning. Assume you have classified your stakeholders on your project designed to ensure students in your city have access to the best educational resources
The last step in the stakeholder analysis process is to—a. Determine the organizational cultureb. Assess how stakeholders probably will respond in various situationsc. Determine stakeholder roles, interests, and expectationsd. Evaluate the amount of support each stakeholder could generate
Having worked as a project manager for nine years, you know how important it is to identify the critical stakeholders and not to overlook anyone who has a major influence on your project, even if you do not ever plan to meet with or talk with this individual. As you work with your team, you explain
A number of items in the stakeholder management plan are similar to those in the communications management plan. An example is—a. Method for updating and refining the plans as the project progresses and developsb. Stakeholder communication requirements for the current project phasec. Information
As you work with your team to prepare your stakeholder management plan, you decided to develop a stakeholder engagement chart. You set it up so you can—a. Show the phase of your project of interest to identified stakeholdersb. Show gaps between current and desired levels of engagementc. Determine
As you work on your project to update its software training classes to focus on an agile approach, you have a number of key stakeholders. As many people and their managers are requesting these classes, your CEO has taken a special interest in your project and has asked you to accelerate your
Stakeholders often have issues, and you have asked each of your team members to document them. At each team meeting, you and your team discuss them and determine appropriate responses. You have a project issue log, which is—a. Part of the project’s lessons learnedb. Added to the stakeholder
Assume you are actively working, along with your team, to manage stakeholder engagement on your project to develop a new drug to prevent any retina problems of any type. You know you must manage their engagement throughout the project life cycle. This means some organizational process assets will
Recognizing the importance of preparing a stakeholder management plan, you met with your team to obtain their buy in and to discuss it. You explained the key benefit of Plan Stakeholder Management is to—a. Determine appropriate strategies for a continual focus on identifying stakeholders
You are responsible for a project in your organization that has multiple internal customers. Because many people in your organization are interested in this project, you decide to prepare a stakeholder management strategy. Before preparing this strategy, you should—a. Conduct a stakeholder
Analyzing stakeholders is a part of the Identify Stakeholders process. Common approaches for analyzing stakeholders in a qualitative manner includes all the following two-axis grids, EXCEPT—a. Comparing power and influenceb. Comparing power and interestc. Comparing influence and locationd.
You are managing a project with team members located at customer sites on three different continents. You have a number of stakeholders on your project, and most of them are located outside of the corporate office. Who should be responsible for stakeholder management?a. A specific team member in
During your project, you will have a number of different types of meetings. Some will be informational, others will be key updates, and some will be for decision-making purposes. While different attendees will attend each meeting, a best practice to follow is to:a. Group stakeholders into
Assume that your company has a cost-plus-fixed-fee contract. The contract value is $110,000, which consists of $100,000 of estimated costs with a 10-percent fixed fee. Assume that your company completes the work but only incurs $80,000 in actual cost. What is the total cost to the project?a.
Which of the following types of contracts has the least risk to the seller?a. Firm-fixed-priceb. Cost-plus-fixed-feec. Cost-plus-award-feed. Fixed-price-incentive fee
You are the project manager with a team to design the next generation of automobiles for your company. After an extensive make-or-buy analysis, you have determined which items will be outsourced. Now you are working on the statements of work for each item to be procured. It is important as you do
Assume you thought you would need to outsource part of your work on your telecom project. You conducted a make-or-buy analysis, and the decision was made not to outsource. This means—a. You have no additional work remaining in procurement managementb. The decision should be documented in a
You are working on a complex project designed to combat glaucoma without the need to take eye drops. You are going to outsource part of the work to experts in the glaucoma field and have identified four sellers that have been judged to be in a competitive rage. These sellers and you have—a.
Assume on your project, you have a requested but unresolved change as you provided direction to the seller to take action. You consider this change to be one that is—a. A claimb. A constructive change to the contractc. One that requires the need to negotiate a settlementd. An undefinitized
The best approach to resolve the settlement of all outstanding contract changes, claims, and disputes is using—a. Litigationb. Alternative dispute resolutionc. Negotiationd. Mediation
Assume in your project, you need to use a contractor. But you and the seller have a prior agreement in place. This means together you can prepare a procurement statement of work. It is an example of—a. Core capabilities of the organizationb. Organizational process assetsc. Mutual development of
Assume before you award a contract, you and your team are striving to identify areas that may have more risk. You decide to concentrate on—a. Use of an independent estimatorb. Past performancec. Quality levelsd. Prior agreements
Payment systems are a tool and technique in Control Procurements. They are typically processed by—a. The contracting officer’s technical representativeb. The contracts officec. The accounts payable systemd. The contractual terms and conditions
Requirements for acceptance criteria are defined in the—a. Contractb. Procurement management planc. Overall project management pland. Specifications
A buyer has negotiated a fixed-price-incentive-fee contract with the seller. The contract has a target cost of $200,000, a target profit of $30,000, and a target price of $230,000. The buyer also has negotiated a ceiling price of $270,000 and a share ratio of 70/30. If the seller completes the
In the Plan Procurement Management process, potential sellers are evaluated, especially if the buyer wants to exercise some degree of influence or control over acquisition decisions. This means thought also should be given to—a. Cost estimates developed by potential sellersb. The scope baselinec.
Work performance data often are used In Control Procurements to show—a. Whether quality standards are being satisfiedb. If approved change requests are being implementedc. Current or potential problemsd. Compliance with contracts
As project manager, you need a relatively fast and informal method addressing disagreements with contractors. One such method is to submit the issue in question to an impartial third party for resolution. This process is known as—a. Alternative dispute resolutionb. Problem processingc. Steering
You have decided to award a contract to a seller that has provided quality services to your company frequently in the past. Your current project, although somewhat different from previous projects, is similar to other work the seller has performed. In this situation, to minimize your risk you
Assume you have completed your procurement management plan and your make-or-buy analysis and now are updating project documents as a result of this work. You need to update the—a. Stakeholder registerb. Requirements traceability matrixc. Negotiations processd. Management systems for contractual
An often-overlooked output to the Conduct Procurements process is—a. Analytical techniquesb. Resource calendarsc. Work performance informationd. Work performance data
The primary benefit of contract control procurements is to ensure that—a. Buyers conduct performance reviewsb. Payment is made in a timely fashionc. Disagreements are handled quickly and to everyone’s satisfactiond. Both parties meet contractual obligations and protect their legal rights
You are responsible for ensuring that your seller’s performance meets contractual requirements. For effective contract control, you should—a. Hold a bidders’ conferenceb. Establish the appropriate contract typec. Implement the contract change control systemd. Develop a statement of work
During the course of working with a seller that no one had worked with previously and is working on site with your team, inspections and audits can be conducted as you specified in the contract. You decided to hire an outside person, considered to be an expert in project management to conduct an
The project team has the responsibility to ensure a procurement agreement—a. Incorporates other items the seller specifiesb. Focuses on all selected sellers deemed to be in the competitive rangec. Adheres to the negotiation processd. Adheres to the organization’s procurement policies
You plan to award a contract to provide project management training for your company. You decide it is important that any prospective contractor have an association with a major university that awards master’s certificates in project management. This is an example of—a. Setting up an
Requirements for formal contract acceptance and closure usually are defined in the—a. Proposalb. Statement of workc. Contract terms and conditionsd. Procurement audit report
Your company decided to award a contract for project management services on a pharmaceutical research project. Because your company is new to project management and does not understand the full scope of services that may be needed under the contract, it is most appropriate to award a—a.
You are working on a new project in your organization. You need to decide how best to staff the project and handle all its resource requirements. Your first step should be to—a. Conduct a make-or-buy analysisb. Conduct a market surveyc. Solicit proposals from sellers using an RFP to determine
As you prepare to close out contracts on your project, you should review all the following types of documentation EXCEPT the—a. Contract document for the contract being closedb. Procurement audit reportc. Payment recordsd. Contract changes
Recent data indicate that more than 10,000 airline passengers are injured each year from baggage that falls from overhead bins. You performed a make-or-buy analysis and decided to outsource an improved bin design and manufacture it. The project team needs to develop a list of qualified sources. As
It is important to use a records management system on any project. In the procurement management process example of items to archive are—a. Contract completion statementb. Correspondencec. Outstanding claimsd. Settled subcontracts
Which term is NOT a common name for a procurement document that solicits an offer from prospective sellers?a. Seller initial responseb. Request for informationc. Request for quotationd. Invitation for negotiation
You are awarding a contract to help develop a new feature in the eighth generation phone. You feel this feature will enable your company to outpace the competition. However, you know some potential sellers have worked for competitors in the past. As you select source selection criteria, you should
Which term describes contract costs that are traceable to or caused by a specific project work effort?a. Variableb. Fixedc. Indirectd. Direct
You are a contractor for a state agency. Your company recently completed a water resource management project for the state and received payment on its final invoice today. A procurement audit has been conducted. Formal notification that the contract has been closed should be provided to your
Significant differences between the seller’s price and your independent estimate may indicate all the following EXCEPT the—a. SOW was not adequateb. Seller misunderstood the SOWc. Sellers failed to respondd. Project team chose the wrong contract type
In some cases, contract termination refers to—a. Contract closeout by mutual agreementb. Contract closeout by delivery of goods or servicesc. Contract closeout by successful performanced. Certification of receipt of final payment
Assume you are managing a project and have decided to outsource about 40% of the work. You expect to award three contracts for certain work packages in the WBS. The benefit of this Conduct Procurements process is that it—a. Determines the type of contract to awardb. Aligns internal and external
The buyer has negotiated a cost-plus-incentive fee contract with the seller. The contract has a target cost of $300,000, a target fee of $40,000, a share ratio of 80/20, a maximum fee of $60,000, and a minimum fee of $10,000. If the seller has actual costs of $380,000, how much fee will the buyer
Contract type selection is dependent on the degree of risk or uncertainty facing the project manager. From the perspective of the buyer, the preferred contract type in a low-risk situation is—a. Firm-fixed-priceb. Fixed-price-incentivec. Cost-plus-fixed feed. Cost-plus-a-percentage-of-cost
Which term describes those costs in a contract that are associated with two or more projects but are not traceable to either of them individually?a. Variableb. Directc. Indirectd. Semivariable
Assume you are working on a complex project. In fact, it is the most complex project in your organization, so the CEO is interested in it and asks questions about its progress in staff meetings. On this project, you are outsourcing a lot of this work. This means you should—a. Award firm-fixed
You are the project manager for the construction of an incinerator to burn refuse. Local residents and environmental groups are opposed to this project. Management agrees to move this project to a different location. This is an example of which one of the following risk responses?a. Passive
As head of the project management office, you need to focus on those items where risk responses can lead to better project outcomes. One way to help you make these decisions is to—a. Use a probability and impact matrixb. Assess trends in Perform Quantitative Risk Analysis resultsc. Prioritize
This fast track schedule is an example of an—a. Unknown riskb. A risk taken to achieve a rewardc. A response that requires sharing the riskd. A passive avoidance strategy
Your CEO now has now mandated that you fast track your project so you can launch your product on August
Your schedule called for you to launch your product on December
It is now March
Assume that you are working on a new product for your firm. Your CEO learned that a competitor was about to launch a new product that has similar features to those of your project. The competitor plans to launch the product on September
Contingency planning involves—a. Defining the steps to be taken if an identified risk event should occurb. Establishing a management reserve to cover unplanned expendituresc. Preparing a stand-alone document that is separate from the overall project pland. Determining needed adjustments to make
Which of the following is NOT an objective of a risk audit?a. Confirming that risk management has been practiced throughout the project life cycleb. Confirming that the project is well managed and that the risks are being controlledc. Evaluating the effectiveness of risk responses in dealing with
Assigning more talented resources to the project to reduce time to completion or to provide better quality than originally planned are examples of which one of the following strategies?a. Enhanceb. Exploitc. Shared. Contingent response
Accurate and unbiased data are essential for Perform Qualitative Risk Analysis. Which one of the following should you use to examine the extent of understanding of project risk?a. Data quality assessmentb. Project assumptions testingc. Sensitivity analysisd. Influence diagrams
What is the primary difference between a risk audit and a risk reassessment?a. A risk reassessment is conducted at the completion of a major phase; audits are conducted after the project is complete.b. Project stakeholders conduct risk audits; management conducts reassessments.c. Risk reassessments
Which one of the following statements best characterizes an activity cost or duration estimate developed with a limited amount of information?a. It should be part of the planning for the needed management reserve.b. It is an input to Identify Risks.c. It is an output from Identify Risks.d. It must
In preparing the risk management plan meetings, the key purpose of these meetings is to—a. Involve those involved in executing the planb. Enable anyone in the organization to participatec. Define a high-level pland. Ensure the key stakeholders are invited and participate
Two key inputs to the Perform Quantitative Risk Analysis process are the—a. WBS and milestone listb. Scope management plan and process improvement planc. Schedule management plan and cost management pland. Procurement management plan and quality baseline
On a typical project, when are risks highest and the cost of changes the lowest?a. During the concept phaseb. At or near completion of the projectc. During the implementation phased. When the project manager is replaced
Risk mitigation involves—a. Using performance and payment bondsb. Eliminating a specific threat by eliminating the causec. Avoiding the schedule risk inherent in the projectd. Reducing the probability and/or impact of an adverse risk event to an acceptable threshold
When managing current projects, it is important to use lessons learned from previous projects to improve the organization’s project management process. Therefore, in the Identify Risks process one can review the—a. Process flow chartsb. Checklistsc. WBSd. Root-cause analysis
Your project is using complex, unproven technology. Your team conducted a brainstorming session to identify risks. Poor allocation of project resources was the number one risk. This risk was placed on the risk register, which included at this point a—a. Watch listb. Potential risk responsec.
The primary advantage of using decision-tree analysis in project risk management is that it—a. Considers the attitude of the decision maker toward riskb. Forces consideration of the probability of each outcomec. Helps to identify and postulate risk scenarios for the projectd. Shows how risks can
Which of the following is an example of recommended corrective action in risk management?a. Conducting a risk auditb. Engaging in additional risk response planningc. Performing the contingency pland. Conducting a risk review
Risk score measures the—a. Variability of the estimateb. Product of the probability and impact of the riskc. Range of schedule and cost outcomesd. Reduced monetary value of the risk event
The purpose of a numeric scale in risk management is to—a. Avoid high-impact risksb. Assign a relative value to the impact on project objectives if the risk in question occursc. Rank order of risks in terms of very low, low, moderate, high, and very highd. Test project assumptions
A recent earned value analysis shows that your project is 20 percent complete, the CPI is 0.67, and the SPI is 0.87. In this situation, you should—a. Perform additional resource planning, add resources, and use overtime as needed to accomplish the same amount of budgeted workb. Re-baseline the
You are managing the construction of a highly sophisticated data center in Port Moresby, Papua, New Guinea. Although this location offers significant economic advantages, the threat of typhoons has caused you to create a backup plan to operate in Manila in case the center is flooded. This plan is
If a business venture has a 60-percent chance to earn $2 million and a 20-percent chance to lose $1.5 million, what is the expected monetary value of the venture?a. –$50,000b. $300,000c. $500,000d. $900,000
The simplest form of quantitative risk analysis and modeling techniques is—a. Probability analysisb. Sensitivity analysisc. Delphi techniqued. Utility theory

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