PMP Exam Cram Project Management Professional 4th Edition Solomon, Michael G. - Solutions

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What are the marketing strategies? How do they influence business unit level strategies?
State the financial management strategies that affect the company’s operations.
Discuss the significant production and operation strategies.
What are the thirteen commandments for formulating successful business strategies?
What are the defensive strategies? How do these strategies help to achieve a competitive advantage?
What are the offensive strategies? How do the offensive strategies help to achieve a competitive advantage?
Discuss the advantages and risks of differentiation strategy.
What is differentiation strategy? Discuss its approaches.
What are the advantages and risks of low-cost strategy?
Discuss different approaches to a low-cost strategy.
What is low-cost strategy? How does value chain analysis help to achieve a low-cost strategy?
How do companies craft strategic business unit level strategies based on customer needs?
Discuss Combination Strategies in detail.
What is Turnaround? Explain the circumstances under which the turnaround is appropriate.
What are Retrenchment Strategies? Discuss each of them.
What is Acquisition? Explain the circumstances under which the acquisitions are appropriate.
What is a Merger? Explain the circumstances under which the mergers are appropriate.
What are Joint Ventures? Explain the circumstances under which the joint ventures are appropriate.
What are Growth Strategies? Discuss their pros and cons.
What are the Stability Strategies? Discuss their advantages and disadvantages.
What is SWOT analysis? How do you use SWOT analysis in crafting strategies?
What is international SWOT analysis? How is it used in formulating global strategies?
Discuss the strategies to be employed by a global company.
Explain the strategies to be adopted by a global company in case of environmentally sensitive products.
What are the peculiarities of global strategic management?
What is strategic management? Explain the process of strategy formulation.
How do you identify corporate capability factors of different functional areas?
How do you assess competitive strengths of an organisation?
How do you identify organisational weaknesses?
How do you identify organisational strengths?
What is value chain analysis? How do primary activities add value?
How do you build core competencies?
What are core competencies? How many core competencies are required for a company?
What are organisational capabilities? How do you identify then?
Discuss resource-based view of organisational analysis.
What are organisational resources and capabilities? Why are organisational resources valuable?
How do you identify opportunities and threats of a business?
What is competitor analysis?
What is industry analysis? Discuss the demographic factors that influence the business.
What are the political ideologies? How do political factors influence business?
What are the technological factors? How do they influence business?
What are the social and cultural factors that affect the business?
Why do companies go global?
What are the global factors that affect the business?
What is economic environment? How do you use economic factors in determining opportunities and threats?
Why do you scan the business environment?
Discuss the process of formulating mission and objectives.
What are the reasons that result in changes in mission and objectives?
Discuss the importance of objectives.
What are objectives? Discuss the characteristics of effective objectives.
What is a business definition? Discuss broad and narrow business definitions.
How do you evaluate mission statements?
What are the contents of a mission statement?
What is a mission statement? What are the key elements in developing a mission statement?
What is a vision? Discuss its characteristics.
Discuss the process of strategic decision-making.
What are the different approaches to strategic decision-making?
What is strategic decision-making ?
Who are the middle level and senior level strategists?
Discuss how the shareholders and board of directors become strategists.
What are the tasks and roles of a strategist?
What are the challenges to strategic management?
Discuss the need for and benefits of strategic management.
Define the term strategic management.
State the historical developments of strategic management.
What are the key areas in developing strategies?
Why do organisations need strategies?
What are the dimensions of strategy? Discuss different forms of strategy.
Should a strategy be a plan?
What is strategy? State a few definition of strategy.
What is the planned value?A. $300,000 B. $168,750 C. $389,423 D. $452,250
Fishbone diagrams (like the one in this figure) are used forA. The cost management plan during the project execution B. Brainstorming C. Finding the cause and effect in the project quality assurance process D. All of the above Reason Reason Reason Reason Problem
The project management plan A. Is the steps needed to complete a project task B. Is prepared at the beginning and fixed throughout the execution of the project C. Not needed until resources have been assigned D. Is an outline that identifies all the steps and processes that will be used after a
Project success can be achieved only if A. The project manager is an expert in managing resources.B. The project manager is part of the executive management team.C. There is a clear link between the project deliverables and the business strategy.D. The project sponsor leads the initiatives.
Project scope A. Defines all the equipment that will be used in the project B. Is a document that identifies the stakeholder responsibilities C. Is part of the project charter D. Defines at a high level the project execution framework and its deliverables
An activity estimated to require one month for completion with 800 hours of labor and a burdened cost of $47,000. The activity was completed in 800 hours but at a higher burdened cost of $58,000. What is the most likely reason for the increase?A. Higher salaried employees were assigned to the
Scorecard modeling, cost benefit analysis, payback periods, and internal rate of return are examples of A. Project selection methods B. Enterprise benefits measurement methods when selecting a project C. Ways to ensure stakeholder commitment D. Integral parts of the statement of work
The project charter A. Is a good thing to have to enter restricted areas B. Tells the newspapers when the project will end C. Authorizes equipment acquisition D. Provides a high-level definition of the effort and its stakeholders
Which of the following is an accurate statement?A. Qualitative risk analysis occurs prior to quantitative risk analysis.B. Quantitative risk analysis occurs prior to qualitative risk analysis.C. Qualitative risk analysis is performed on risks that have been prioritized during quantitative risk
You are the project manager for a project with a very tight schedule. Because the project is running late, you feel that you do not have time to consider all the possible solutions due to a disagreement between two team members. You quickly decide to side with the team member that has the largest
While managing a project, you find that the project customer and a team member are in conflict over the level of quality needed on a sample. You decide to split the difference between what the two stakeholders want. This is an example of which of the following?A. A win-win solution B. A win-lose
Which of the following is an example of coercive power?A. A project manager that has lunch with the project team on the same day each week B. A project manager that will openly punish any team member who is late with an activity C. A project manager that has worked with the technology on the
The procurement closing of a project dictates that A. All project monies have been spent B. No budget category amounts have been exceeded C. No other work from this client will be considered D. No further charges can be made against the project
The complete review of a seller’s technical performance, cost performance, and delivery schedule is referred to as A. Project or phase evaluation B. Contract evaluation C. Post mortem D. Seller performance evaluation
Project communication planning includes which of the following tasks?A. Determining and limiting who will communicate with whom and who will receive what information B. Combining the type and format of information needed with an analysis of the value of the information for communication C.
You are the project manager for a project requiring that quality maps to federal guidelines. During a quality audit, you discover that a portion of the project work is faulty and must be done again. The requirement to re-do the work is an example of which of the following?A. Cost of quality B. Cost
You’re managing a project using the earned value technique (EVT) for cost management. The project planned value (PV) is $200,000. The project earned value (EV) is $100,000. The actual value (AV) is $150,000. What is the schedule performance index (SPI) for the project?A. 0. 5 B. 1. 5 C. 1.75 D. 2
You’re managing a project using the earned value technique (EVT) for cost management. The project planned value (PV) is $200,000. The project earned value (EV) is $100,000. The actual value (AV) is $150,000. Calculate the cost performance index (CPI) for the project. What is the cost-efficiency
Which of the following is a business philosophy to find methods to continuously improve products, services, and business practices?A. TQM B. ASQ C. QA D. QC
To maintain the customer’s schedule, substantial overtime will be required during a traditional holiday season. Many team members have requested vacation during this time. You should A. Let the schedule slip and inform the customer B. First give the team members the choice of working overtime C.
You are managing a project using the earned value technique (EVT) for cost management. The project planned value (PV) is $200,000. The project earned value (EV) is $100,000. The actual value (AV) is $150,000. What is the schedule variance (SV) for the project?A. 100,000 B. –100,000 C. 50,000 D.
Planned value (PV) is A. The budgeted cost for work scheduled to be completed on an activity up to a specific time B. The budgeted cost for the work actually completed on the schedule activity during a specific time period C. The total cost for work on the schedule activity during a specific time
You are the project manager for a performance analysis project for a client’s database application. Your client provides you with a test database to use for your analysis. The IT director for your organization disagrees with the database provided by the client and tells you to use a different
You have been assigned two concurrent projects. Because of the nature of the projects, you have a conflict of interest. You should A. Do the best you can and tell no one B. Ask to be removed from one of the projects C. Ask to be removed from both of the projects D. Inform your sponsor and ask for
When a scheduled activity cannot be estimated with an adequate degree of certainty, the work within the activity can be decomposed. The resource requirements for each lower, more detailed work package can be estimated and aggregated to form a basis for estimating the overarching scheduled activity.
As the project manager for a project with an international team, you are about to enter negotiations with foreign vendors. Where do you find what business practices are allowed and discouraged?A. The project charter B. The project plan C. Organizational process assets D. The PMP Code of Ethics and
One type of progressive elaboration occurs when the work to be performed within the near term is planned in detail while work scheduled for further out is defined at only a high level in the work breakdown structure (WBS). As the task draws nearer, the amount of detail for the task is further
Project cost and project staffing resources follow a typical pattern during the life cycle of a project. Which of the following is common?A. Cost and staffing levels are high at the beginning of the project, stabilize during the middle phases of the project, and drop rapidly toward project
You are the project manager for a project to design and implement a new accounting application. Management has requested that you document any changes or enhancements to the technical attributes of the project deliverable. Which one of the following would satisfy management’s request?A.
With respect to integrated change control, what must the project manager ensure is present?A. Supporting detail for the change B. Approval of the change from the project team C. Approval of the change from an SME D. Risk assessment for each proposed change

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PMP Exam Cram Project Management Professional 4th Edition Solomon, Michael G. - Solutions

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