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project management for small projects
PMP Exam Prep : Accelerated Learning To Pass The Project Management Professional (PMP) Exam 10th Edition Rita Mulcahy; Barbara A. Cakenord - Solutions
You know that some groups within your organization are going to provide input to requirements that may impact your ability to develop a realistic schedule. Managing stakeholder expectations is always important, but achieving stakeholder satisfaction will be more critical with some groups than with
Which of the following statements best describes how stakeholders are involved on a project? A. They help to determine the project schedule, deliverables, and requirements. B. They help to determine the project constraints and product deliverables. C. They help to determine the resource needs and
You have been tentatively assigned to a project that has not yet received final approval. Several stakeholders who will likely be involved or impacted by the project have already been identified. Stakeholders can be identified during which project management process groups? A. Initiating, planning,
The project has been going well, except for the number of changes being made. The product of the project is being installed into seven different departments within the company and will greatly improve departmental performance when operational. The team has selected the appropriate processes for use
A new project manager is about to begin creating the procurement statement of work. One stakeholder wants to add many items to the procurement statement of work. Another stakeholder only wants to describe the functional requirements. The project is important for the project manager's company, but a
Your organization has recently been informed that several of the regulations related to how your products are manufactured will change in six months. In planning for work to change certain design and production processes, you determine you will need to work with several external organizations to do
You are the project manager at a software development company, leading a project to develop an innovative application for a client. The project has followed a strict software engineering process. The requirements have been specified in detail, resulting in extensive functional and technical
The $800,000 contract specifies that the seller will bill the buyer at $10,000 per month. However, the seller is able to complete the project work faster than planned. Therefore, they bill the buyer for $15,000 for the work performed in the past month. The buyer should: A. Send a breach of contract
The project team is considering the prospective sellers who have submitted proposals. One team member supports a certain seller while another team member wants the project to be awarded to a different seller. The project manager should remind the team that the best thing to focus on in order to
You have just started work on a procurement when management decides to terminate the contract. What should you do? A. Go back to the Plan Procurement Management process. B. Go back to the Conduct Procurements process. C. Complete the Control Procurements process. D. Stop working, and consider the
Procurement closure is different from the Close Project or Phase process in that procurement closure: A. Occurs before Close Project or Phase B. Is the only one to involve the customer C. Includes the return of property D. May be done more than once for each contract
A seller is awarded a contract to build a pipeline. The contract terms and conditions require a work plan to be issued for the buyer's approval prior to commencing work, but the seller fails to provide one. Which of the following is the best thing for the buyer's project manager to do? A. File a
After much hard work, the procurement statement of work for the project is completed. However, even after gaining agreement that the procurement statement of work is complete, the project manager is unsure of whether it actually addresses all the buyer's needs. The project manager is about to
The project manager, the procurement manager, and the project sponsor are discussing the project costs and whether it is better to have their own company do some of the project work or hire another company to do all the work. Generally, it would be better for the organization to do the work
Your project has just been fast tracked, and you are looking to quickly bring in a subcontractor to complete networking. There is no time to issue a request for proposal (RFP), so you choose to use a company you have used many times before for software development. A primary concern in this
Negotiations between two parties are becoming complex, so Party A makes some notes that both parties sign. However, when the work is being done, Party B claims they are not required to provide an item they both agreed to during negotiations, because it was not included in the subsequent contract.
Your program manager has advised that you need to protect the organization from financial risk. In planning a new project, you realize there is limited scope definition related to the work needed to fulfill the contract. What is the best type of contract to choose? A. Fixed-price (FP) B. Cost plus
A project manager is in the middle of creating a request for proposal (RFP). What part of the procurement process is hein? A. Conduct Procurements B. Plan Procurement Management C. Administer Procurements D. Make-or-Buy Analysis
The project team is assessing the responses of prospective sellers who have submitted proposals. One team member argues for a certain seller while another team member wants the project to be awarded to a different seller. What part of the procurement process is the team in? A. Plan Procurement
You are the project manager of a relatively small project to build out improvements to a small shop in a pedestrian mall. The project is using a time and material contract, and you know you must be involved in negotiations. Which of the following is an advantage of a time and material contract? A.
Your company has an emergency and needs contracted work done as soon as possible. Under these circumstances, which of the following would be the most helpful to add to the contract? A. A clear procurement statement of work B. Requirements as to which subcontractors can be used C. Incentives D. A
Which of the following is an advantage of centralized contracting? A. Increased expertise B. Easier access C. The project manager doesn't have to be involved D. More loyalty to the project
A project has a tight budget when you begin negotiating with a seller for a piece of equipment. The seller has told you the equipment price is fixed. Your manager has told you to negotiate the cost with the seller. Your assessment is that the piece of equipment has been offered at inflated pricing.
You are trying to make sure all records from the procurement are documented and indexed. Which of the following do you not have to worry about? A. Proposal B. Procurement statement of work C. Terms and conditions D. Negotiation process
As the buyer in an agile contracting environment, what key consideration should you bear in mind when negotiating procurement contracts? A. Make sure the seller is satisfied with their compensation, to promote trust and collaboration. B. As a servant leader, motivating and encouraging the
The sponsor and the project manager are discussing what type of contract the project manager plans to use on the project. The sponsor points out that the performing organization paid a design team a lot of money to come up with the design. The project manager is concerned that the risk for the
As part of closing a cost-reimbursable contract on a project, what must the buyer remember to do? A. Decrease the risk rating of the project. B. Audit seller's cost submittals. C. Evaluate the fee she is paying. D. Make sure the seller is not adding resources.
You are considering using a fixed-price (FP) contract because you have well-defined requirements for your construction project. With your requirements and your understanding of the seller's competition, you are confident you will be able to establish a complete statement of work. The fee or profit
Your CFO has decided to switch to graduated fixed-price contracts for change-driven initiatives. On your projects, you've been working with the same subcontractor for five years under a standard fixed- price contract. The sales rep tells you they are concerned about this contract change and
The sponsor is worried about the seller deriving extra profit on the cost plus fixed fee (CPFF) contract. Each month he requires the project manager to submit CPI calculations and an analysis of the cost to complete. The project manager explains to the sponsor that extra profits should not be a
Which of the following is the best thing for a project manager to do in the Conduct Procurements process? A. Evaluate risks B. Select a contract type C. Perform market research D. Answer sellers' questions about the procurement documents
You are working to plan procurements for a project that will develop a prototype cruise ship. The prototype will be tested, perfected, and then used to create a small fleet. In addition to creating a procurement management plan, you must put together bid documents describing the project needs and
A seller is working on a cost-reimbursable (CR) contract when the buyer decides he would like to expand the scope of services and change to a fixed-price (FP) contract. All the following are the seller's options except: A. Completing the original work on a cost-reimbursable basis and then
Buyers and sellers have many common goals, but some goals of the buyer will not benefit the seller. Likewise, the seller will sometimes have goals that conflict with those of the buyer. These could negatively affect the project if contracts are not negotiated appropriately. The primary objective of
A routine audit of a cost-reimbursable (CR) contract determines that overcharges are being made. If the contract does not specify corrective action, the buyer should: A. Continue to make project payments. B. Halt payments until the problem is corrected. C. Void the contract and start legal action
All the following statements about change control are incorrect except: A. A fixed-price contract will minimize the need for change control. B. Changes seldom provide real benefits to the project. C. Contracts should include procedures to accommodate changes. D. More detailed specifications
A project manager for the seller is told by her management that the project team should do whatever possible to be awarded incentive money. The primary objective of incentive clauses in a contract is to: A. Reduce costs for the buyer. B. Help the seller control costs. C. Synchronize objectives. D.
Your organization is transitioning to an agile approach. You have been asked to review the company's existing standard procurement contracts and revise them as needed to reflect the new project approach. What is one of the key adjustments you want to make? A. Reduce the time allowance for meetings
You are advising another project manager who is starting his first agile project. In addition to the development team, he would like to use subcontractors for some parts of the work, but he isn't sure how to define the acceptance criteria. Which statement would you advise him to include in the
You are preparing procurement documents for the building of a community center. There will be government standards, guidelines, and possibly regulations involved. You need to structure the procurement documentation in order to get proposals from qualified prospective sellers interested in doing
Once signed, a contract is legally binding unless: A. One party is unable to perform. B. One party is unable to finance its part of the work. C. It is in violation of applicable law. D. It is declared null and void by either party's legal counsel.
Since a template for team meetings does not appear to be available, you are creating one. You think it could also be used for future projects. You want to generalize the agenda template to include topics all project managers would use. Which of the following must be included as an agenda item at
During the Identify Risks process, a project manager and stakeholders used various methods to identify risks and created a long list of those risks. The project manager then made sure all the risks were understood and that triggers had been identified. Later, in the Plan Risk Responses process, he
A watch list is an output of which risk management process? A. Plan Risk Responses B. Perform Quantitative Risk Analysis C. Perform Qualitative Risk Analysis D. Implement Risk Responses
A project manager is creating a risk response plan. However, every time a risk response is suggested, another risk is identified that is caused by the response. Which of the following is the best thing for the project manager to do? A. Get more people involved in the Identify Risks process, since
A project team is creating a project management plan when management asks them to identify project risks and provide some form of qualitative output as soon as possible. What should the project team provide? A. Risk triggers B. Prioritized list of risks C. Contingency reserves D. Probability of
Monte Carlo analysis is used to: A. Get an indication of the risk involved in the project. B. Estimate an activity's length. C. Simulate possible quality issues on the project. D. Prove to management that extra staff is needed.
A project has had some problems, but now seems under control. In the last few months, almost all the reserve has been used, and most of the negative impacts of events that had been predicted have occurred. There are only four activities left, and two of them are on the critical path. Management now
Which of the following is the primary responsibility of a risk owner? A. Identify new risks and create workarounds. B. Respond to risk triggers and implement the planned risk responses. C. Report to the project manager that a risk has occurred, and note the consequences. D. Quantitatively analyze
During project executing, the team member who is most experienced in the programming work required for the project informs you that he has accepted a new position at another company, and has given his two weeks' notice. This is a major problem that was not included in the risk register. What should
During project executing, a team member is coordinating with a supplier, and identifies a risk that is not in the risk register. It appears that the pieces of heavy equipment you have ordered from a supplier are larger than anticipated, and they may not all fit into the warehouse the team has
The cost performance index (CPI) of a project is 0.6, and the schedule performance index (SPI) is 0.71. The project has 625 work packages and is being completed over a four-year period. The team members are inexperienced, and the project received little support for proper planning. Which of the
A system development project is nearing project closing when a previously unidentified risk is discovered. This could potentially affect the project's overall ability to deliver. What should be done next? A. Alert the project sponsor of potential impacts to cost, scope, or schedule. B. Qualify the
You were in the middle of a two-year project to deploy new technology to field offices across the country. A hurricane caused power outages just when the upgrade was near completion. When the power was restored, all the project reports and historical data were lost, with no way of retrieving them.
What trend are you hoping to see on the top line of your team's risk burndown chart? A. A reliable and consistent upward trend B. A steady, cumulative downward trend C. A rapid downward trend as quickly as possible D. A steady state with only minor variation upward or downward
What would be the best option for making sure your agile team is continually improving their processes and productivity? A. Encourage the team to do a decision tree analysis after each iteration. B. Conduct an iteration retrospective after each product demo. C. Invite key stakeholders to the team's
You have been appointed as the manager of a new, large, and complex project. Because this project is business-critical and highly visible, senior management has told you to analyze the project's risks and prepare response strategies for them as soon as possible. The organization has risk management
A project manager is quantifying risk for her project. Several of her experts are off-site, but wish to be included. How can this be done? A. Perform Monte Carlo analysis using the internet as a tool. B. Apply the critical path method. C. Determine options for recommended corrective action. D. Use
Your team has come up with 434 risks and 16 major causes of those risks. The project is the last in a series of projects that the team has worked on together. The sponsor is very supportive, and a lot of time was invested in making sure the project work was complete and signed off by all key
A project manager has assembled the project team. They have identified 56 risks on the project, determined what would trigger the risks, rated them on a risk rating matrix, tested their assumptions, and assessed the quality of the data used. The team is continuing to move through the risk
Your team is designing a packaging robot for a pharmaceutical production line. The product owner is an engineer, and he tells you it's a waste of the team's time to create a risk-adjusted backlog. You reply that this tool will allow the team to: A. Maximize the expected monetary value of the key
A project manager analyzed the quality of risk data and asked various stakeholders to determine the probability and impact of a number of risks. He is about to move to the next process of risk management. Based on this information, what has the project manager forgotten to do? A. Evaluate trends in
A project manager has just finished the risk response plan for a $387,000 engineering project. Which of the following should he probably do next? A. Determine the overall risk rating of the project. B. Begin to analyze the risks that show up in the project drawings. C. Add work packages to the
During which risk management process is a determination made to transfer a risk? A. Identify Risks B. Implement Risk Responses C. Plan Risk Responses D. Monitor Risks
Workarounds are determined during which risk management process? A. Identify Risks B. Perform Quantitative Risk Analysis C. Plan Risk Responses D. Monitor Risks
Outputs of the Plan Risk Responses process include: A. Residual risks, fallback plans, and contingency reserves B. Risk triggers, contracts, and a risk list C. Secondary risks, process updates, and risk owners D. Contingency plans, project management plan updates, and sensitivity analysis
The project has been chartered to address concerns of low levels of customer satisfaction with the help desk of a large online retailer. You and your team are considering options including upgrading computer systems and software programs, adding additional help desk staff, and improving help desk
You have identified several risks on your project for which purchasing insurance is a possibility. The insurance company your firm uses has quoted reasonable rates, and your analysis shows that purchasing insurance makes sense as a contingency plan in these cases. Your organization has a low
A new project manager is beginning work on her first project. She is planning to use her training to implement many risk identification methods. She realizes that some identified risks will be managed throughout the project, while others will not be considered important enough to deal with. She is
Risk thresholds are determined to help: A. The team rank the project risks B. The project manager estimate the project C. The team schedule the project D. Management know how other managers will act on the project
You are embarking on a new technology upgrade project that is considered key to future growth of the business. Because of the critical nature of the project, you recognize the importance of performing thorough risk management, and you want to make sure you have considered all relevant project
You are iterating the project management plan and will be meeting with the sponsors to get approval. There have been some problems on recent projects because the projects were started quickly and it was assumed that there would be few challenges. You know the sponsors will want assurances that this
What kind of change-driven project would gain the most benefit from conducting a project pre-mortem exercise? A. A high-value project with clear specifications for technology and requirements B. An urgent, risky project with a hard deadline C. A project that will require process tailoring D. A
Most of the project risks will be identified during which risk management processes? A. Perform Quantitative Risk Analysis and Identify Risks B. Identify Risks and Monitor Risks C. Perform Qualitative Risk Analysis and Monitor Risks D. Identify Risks and Perform Qualitative Risk Analysis
If a risk has a 20 percent chance of happening in a given month, and the project is expected to last five months, what is the probability that this risk event will occur during the fourth month of the project? A. Less than 1 percent B. 20 percent C. 60 percent D. 80 percent S. If a risk event has a
Your new project is tasked with designing a robotic device. A successful outcome for this high-profile project would create a technological breakthrough and a significant market opportunity, but there is a lot of uncertainty about the technology and requirements. The CFO has asked you to determine
Assuming the ends of a range of estimates are +/-3 sigma from the mean, which of the following range estimates involves the least risk? A. 30 days, plus or minus 5 days B. 22 to 30 days C. Optimistic 26 days, most likely 30 days, pessimistic 33 days D. Mean of 28 days
If a project has a 60 percent chance of a $100,000 profit and a 40 percent chance of a $100,000 loss, the expected monetary value (EMV) for the project is: A. $100,000 profit B. $60,000 loss C. $20,000 profit D. $40,000 loss
The project manager is expecting a deliverable to be submitted by email from a team member today. At the end of the day, the project manager contacts the team member to notify him that it has not been received. The team member apologizes and explains that he was not able to email the deliverable,
The sponsor has suggested that your agile team skip the in-person demo meetings and just send the product owner a link to try out the latest increment of working software. She says that will give your team more time to deliver value. You want to explain the importance of an in-person demo meeting
The requirements of many stakeholders were not approved for inclusion in your project. Therefore, you had a difficult time gaining formal approval of the project management plan. The stakeholders argued and held up the project while they held meeting after meeting about their requirements. The
The project has 13 team members and affects more than 15 departments in the organization. Because the project is 20 percent complete to date and the team has had successful performance reports from five of the affected departments, the project manager holds a party to celebrate. The project manager
A project manager at a large consulting firm is asked to report on the actual project results versus planned results. The project is going well, and the marketing department wants to see if the current results can be used in a future marketing campaign. This project manager should prepare a A.
What's the best way to handle knowledge sharing on the agile projects you are managing? A. Encourage knowledge sharing if possible, where the team shows an interest. B. Give the team many tools and opportunities to share knowledge. C. Facilitate a team meeting if there is time left at the end of an
A project manager has just been assigned a team comprised of team members from many countries including Brazil, Japan, the United States, and Britain. What is her best tool for success? A. The responsibility assignment matrix (RAM) B. The teleconference C. Team communication with the WBS D.
Things have been going well on the project. The work authorization system has allowed people to know when to start work, and the issue log has helped keep track of stakeholders' concerns. The sponsor has expressed his appreciation for the team members' efforts by hosting a milestone party. The
A project manager overhears a conversation between two stakeholders who are discussing how unhappy they are with the impacts of the project on their own departments. Stakeholder A asks if the project is on time, and stakeholder B replies that the SPI is 1.05. Stakeholder A asks if the project
A team member is visiting the manufacturing plant of one of the suppliers. Which of the following is the most important thing to be done in any telephone calls the project manager might make to the team member? A. Ask the team member to repeat back what the project manager says. B. Review the list
You have just been assigned as project manager for a large manufacturing project. This one-year project is about halfway done. It involves five different sellers and 20 members of your company on the project team. You want to quickly review where the project now stands. Which of the following
A project manager has a project team consisting of people in four countries. The project is very important to the company, and the project manager is concerned about its success. The length of the project schedule is acceptable. What type of communication should he use? A. Informal verbal
What's the best way for your agile team to share their progress with other project stakeholders? A. Information radiators B. Memos C. Stand-up meetings D. Retrospectives
Two people are arguing about what needs to be done to complete a work package. In addition to the words being spoken, if the project manager wants to know what is going on, she should pay most attention to: A. What is being said and when B. What is being said, who is saying it, and the time of day
Communication is key to the success of a project. As the project manager, you had three stakeholders with whom you needed to communicate. Therefore, you had six channels of communication. A new stakeholder has been added with whom you also need to communicate. How many communication channels do you
Changes to some project deliverables have been documented in the project management plan. These changes, along with other project information, have been distributed according to the communications management plan. One stakeholder expressed surprise to the project manager upon hearing of a
A large, one-year telecommunications project is about halfway done when you take the place of the previous project manager. The project involves three different sellers and a project team of 30 people. You would like to see the project's communications requirements and what technology is being used
What is the most important factor in choosing how to communicate project progress to business stakeholders? A. Whether the approach is predictive, change-driven, or hybrid B. How much information the stakeholders expect you to provide C. What reporting methods the team has used before and is
Formal written correspondence with the customer is required when: A. Defects are detected. B. The customer requests additional work not covered under contract. C. The project has a schedule slippage that includes changes to the critical path. D. The project has cost overruns.
The new project manager has a team including several individuals for whom English is not their first language. He frequently uses technical jargon from his former company, which is unfamiliar to these team members, when discussing work activities with his team members. The most likely result of
Communications are often enhanced when the sender A. Speaks up to B. Uses gestures when speaking to C. Speaks slowly to D. Shows concern for the perspective of the receiver.
A team member has been late to several recent team meetings, and the last two deliverables he submitted were not acceptable. The project manager decides he can no longer wait for things to improve and must address the issue with the team member. What is the best form of communication for addressing
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