75 preguntas

7/27/2019 75 Preguntas

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75 PREGUNTAS

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1. ________ is typically not referred to as a buffer type in Critical Chain project management.

Resource buffer

Free buffer

Feeding buffer

Project buffer

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2. A company has to make a choice between two projects, because the available resources in moneyand kind are not sufficient to run both at the same time. Each project would take 9 months andwould cost $250,000.

1. The first project is a process optimization which would result in a cost reduction of $120,000 per year.This benefit would be achieved immediately after the end of the project.

2. The second project would be the development of a new product which could produce the following netprofits after the end of the project:

1. year: $ 15,000

2. year: $ 125,000

3. year: $ 220,000

Assumed is a discount rate of 5% per year. Looking at the present values of the benefits of theseprojects in the first 3 years, what is true?

Both projects are equally attractive.

The first project is more attractive by app. 7%.

The second project is more attractive by app. 5%.



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3. A production process has been defined as part of an industrial equipment manufacturing project. Theprocess is intended to produce steel bolts with a length of 20 cm. The control limits are 19.955cmand 20.045cm.

The measurements made at the end of the process yielded the following results:

20.033cm, 19.982cm, 19,995cm, 20.006cm, 19.970cm, 19.968cm, 19.963cm, 19.958cm,19.962cm, 19.979cm, 19.959cm.

What should be done?

The process is under control. It should not be adjusted.

A special cause should be investigated, the process should be adjusted.

The control limits should be adjusted.

The measuring equipment should be recalibrated.

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4. Your project management team includes two external consultants each from a different company.You found that repeated conflicts between the two consultants already slow down project progressand jeopardize achievement of objectives.Which stage of team development can be difficult toovercome in such a situation?

Storming from Forming, Storming, Norming, Performing

Panic from Enthusiasm, Panic, Hope, Solution


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Kickoff from Assignment, Kickoff, Training, Communicating

Frustration from Direction, Frustration, Cooperation, Collaboration

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5. During a project Earned Value Analysis is performed and gives the following numbers:

EV: 523,000; PV: 623,000; AC: 643,000.

Which results are correct?CV: +120,000; SV: +100,000

CV: +100,000; SV: +120,000

CV: -100,000; SV: -120,000

CV: -120,000; SV: -100,000

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6. A project manager spent some days to create a multi-page document which he called Projectcharter. The document should have been issued by the project sponsor. The sponsor found the


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document outsized and asked for a condensed document.

Which of the following is not normally an element of the Project charter?

The authority level of the project manager

Detailed control account and work package descriptions

The business need that the project was undertaken to address

High-level risks

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7. A document called ____________ is created by decomposing the project scope into smaller, moremanageable elements.

Scope Statement

Network Logic Diagram

Work Breakdown Structure

Requested Change


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8.

Which of the following tools is used to create a Risk Management Plan?

Risk planning meetings

Documentation reviews

Data precision rankings

Diagramming techniques

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9. In order to speed up a project, you made a decision to fast-track a phase currently performed withfive team members and another one which was planned to begin in four weeks time with anotherfive team members.

Which of the following activities should you do first?

Make sure that all exit criteria of the consecutive phase have been met to ensure the flow ofcommunications in a team situation which is more complex by a factor of 2.

Make sure that all entry criteria of the previous phase have been met by planning andperforming a phase gate meeting to assess technical aptness.

Make sure that all exit criteria of the previous phase have been met by planning andperforming a phase gate meeting to assess technical performance.

Restructure your team and delegate tasks in order to ensure the flow of communications in ateam with the number of communication channels increased by a factor of 4.5.

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10. A project manager needs a certain number of identical valve housings for a power station project.

He starts with 100 raw items which are made as metal castings. Out of this batch, 15 are foundleaking from micro-porosities in a subsequent pressure test. 6 of these housings can be recoveredby a special sealing process for raw castings.

The 91 housings are then being machined. After this process step 10 machined castings are foundleaking. 3 of these items can also be saved using another sealing process for machined castings.

The remaining 84 housings are getting mounted to the power plant pipe work. During a pressure

test after this process step it is found that 12 valves are leaking. Out of these a number of 6 valvescan be saved by replacing the sealing rings used.

Finally the project manager has 78 valves which he can use. What is true?

RTY = 0.84

RTY = 0.78

RTY = 0.91

RTY = 0.65

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11.

You found the following Earned Value Analysis information for a recently closed out project:SPI =0.7, CPI = 1.0

The project has been cancelled while it was executed. At that time the project was behindschedule and on budget.

The project's deliverables have all been finished. The project came in behind schedule but onbudget.

The project's deliverables have all been finished. The project came in ahead of schedule buton budget.

The project's deliverables have all been finished. The project came in on schedule but overbudget.


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12.

Which should be included in a Requirements management plan?

The document should trace requirements to project scope / WBS deliverables.

It should describe how requirements activities will be planned, tracked, and reported.

It should trace high-level requirements to more detailed requirements.

It should trace requirements to business needs, opportunities, goals, and objectives.

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13. In a traditionally drawn decision tree, a circle represents ___________.

a chance to which no Expected Monetary Value can be assigned so that a likely pay-off cannot be shown.

a decision to which no Expected Monetary Value can be assigned so that a likely pay-off cannot be shown.


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a chance to which an Expected Monetary Value may be assigned to calculate the most likelypay-off.

a decision to which an Expected Monetary Value may be assigned to calculate the most likelypay-off.

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14.

A project management team has subcontracted work to a service company. Which of the followingtools is the best choice to assure that this company will be able to meet the quality requirements ofthe project?

Quality audit

Deliverable inspection

Fixed price contract

Service level agreement

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15. With your team you are using judgment from subject matter experts to identify and analyze projectrisks. There is a small number of experts available, but some of them have long been in a teacher-student or manager-assistant relationship.

Which of the following techniques can ensure best that there is no dominating opinion during anexpert review?


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Peer review

SWOT analysis

Delphi technique

Monetary value calculation

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16. You are running a project for a customer based on a cost reimbursable contract with the followingterms:

Target costs: $ 1,000,000

Fixed fee: $ 100,000

Benefit/cost sharing: 80% / 20%

Price ceiling: $ 1,200,000

Which is the PTA (= Point of total assumption, Break point) of the project?

$1,300,000

$1,500,000

$80,000

$1,125,000

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17. During execution of a project which is performed for a customer on a T&M (Time and Material)


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contract base, a new project manager is taking over the assignment.

He discovers that two members assigned to the project have charged time without performing anywork for the project customer. Upon further investigation, he determines that this occurred becausethere have been no other project assignments open for these employees. The customer is unaware

of these facts.

What should the project manager do?

Try to find some productive work for these staff members in the project and leave them onthe team.

The best thing is to do nothing. The customer will not realize the problem anyway.

Try to find a responsible person for the over-assignment who can be made accountable.

Take the two people off the team immediately and arrange for the refund of the excesscharges to the customer.

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18. Start dates in the following network logic diagram are defined as early morning, finish dates areevening.

If tasks are scheduled to begin at early start date, what is true?

Activity B has a free float of 10 d.

Activity B has a total float of 10 d.

Activity A has a free float of 10 d.

Activity A has a total float of 10 d.


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19. Your project is executed with a globally spread virtual team. The project progress has been found tobe too slow. Which measure is most likely to immediately speed up the project?

Technical training for all team members

Daily phone conferences and detailed reporting

A team meeting at a location convenient to all team members

Collocation of team members at a suitable place

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20.

A project management team wants to procure some customized products which are available inidentical grade and quality from many vendors. What should be included in the procurementpackage to ensure that their offers will be comparable?

A statement of work describing the needs of the project in sufficient detail to enable vendorsto make suitable proposals

A statement of work specifying attributes and metrics of the requested deliverables in detail toallow vendors submission of bids

The approved project scope statement, the WBS which should be broken down to Work

Package level and the WBS dictionary

The risk management plan and the reports from those risk management reviews which havebeen made so far

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21. Which of the following becomes increasingly important in a virtual team environment?

Requirements engineering

Communication planning

Formal procurements closure

Network diagramming


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23. A prime contractor in a customer project under CPFF contract has run into unexpected technicalproblems. Fixing them will require a lot of additional work to be done. The company made a decisionto book more staff and equipment from their subcontractors in order to adhere to the agreedtimeline. The customer agreed to this decision. What will most likely happen?

The contractors indirect costs will increase and the customers payment for them willincrease, too.

The contractors indirect costs will increase but the customers payment for them will notincrease.

The contractors indirect costs will not increase but the customers payment for them will.

Neither the contractor's indirect costs nor the customers payment for them will increase.

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24. A project management team is evaluating the causes that might contribute to unsatisfactoryperformance and quality. Which of the following statements is not true?


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Normal process variation is attributable to random causes and sometimes also called "whitenoise".

Special causes are easier to predict and handle than random causes (also called commoncauses).

Special causes are unusual events which are difficult to foresee and often produce outliers.

A process can be optimized to limit the bandwidth of variations due to random causes.

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25. You are performing a project management audit in your company and find that most of the projectplans are neither consistent nor up-to-date.

Which of the following statements is not true?

Projects should never be executed without a valid, updated and working project managementplan.

The consistency of the project management plan is secondary because it is only the resultsthat matter.

A great deal of effort is required to develop and update a project plan, but the benefits includeless pressure on all stakeholders and a resulting product that will satisfy the requirements.

Poor planning and insufficient updating of project management plans are common reasons forcost and time overruns.


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26. You want to perform active risk acceptance. What should you do?

Create contingency reserves in resources, money and time.

Develop a plan to minimize impact in case that an identified risk occurs.

Develop a plan to minimize the probability of occurrence for identified risks.

Make additional resources available to speed up the project.

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27. A project manager made 3-point estimates on a critical path and found the following results:


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Assuming 3 Sigma precision level for each estimate, what is the standard deviation of the alloverpath?

App. 4.2 days

App. 5.2 days

App. 6.2 days

You can not derive the path standard deviation from the information given.

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28.

When do bidder conferences normally take place?

After the contract has been awarded to keep alternatives open.

After submittal of bid or proposal, but before contract award.

Prior to the submittal of a bid or proposal by the bidder.

After technical meetings with bidders to discuss contract requirements.

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29. What is defined by control limits?

A measuring instrument solely used to describe process capability. The process is foundcapable if the 3 Sigma range is exceeded by not more than 0.3% of a tested sample lot.

The limits of the six Sigma area on either side of a control chart to plot measured values; datafound outside the area are out of specification and can lead to rejection of an entire batch.

The area consisting of typically three standard deviations on either side of a mean value of acontrol chart to plot measured values found in statistical quality control

The area consisting of typically three standard deviations on either side of a mean value of acontrol chart to plot measured values found in quality assurance

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30.

The Scope baseline consists of what?

Scope statement, WBS, and WBS dictionary

Cost baseline, Quality baseline and Schedule baseline

Configuration management plan and Configuration identification document

Procurement statement of work and Project scope statement


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31. Activity 1 has a duration of 20 days, Activity 2 of 10 days, Activity 3 of 5 days and Activity 4 of 6days.

What is the minimum total duration between the Milestones A and B?

36 days

37 days

39 days

42 days

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32.

Which tool and technique is used to Create WBS and Define activities?


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Nominal group technique

Human resource assignment

Brainstorming

Decomposition

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33. Which of the following statement(s) regarding whistle-blowing is/are not true?

a. It is a term used to define an employees decision to disclose information on unethical, immoral orillegal actions at work to an authority figure.

b. An employee should always discuss the matter with people external to the company before following the"chain of command" and discuss it with the immediate superior.

c. The consequences of whistle-blowing are often extreme and include possible being branded as havingbad judgment, firing, civil action and imprisonment.

d. Carefully considered whistle-blowing can lead to the end of unethical business practices.

a

b

b, c

c, d

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34. Which of the following statements is not true?


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Attribute sampling is the process of assessing whether results conform to specifications or not.

Prevention means keeping errors out of the process by applying actions before the processstarts changing its input.

Variables sampling means that the result is classified into one of the 3 categories:"acceptable"- "acceptable after rework" - "rejected".

Inspection is often mainly done to keep errors out of the hands of the customer instead of asa means of process control.

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35. Which statement describes best why you should document assumptions?

Assumptions might prove to be wrong. Knowing which assumptions were incorrect allowsbaseline adjustments in case of project crisis.

Assumption analysis is a valuable tool and technique to explore the validity of assumptionsduring risk identification.


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Assumptions limit the project management team's options for decision making because theycan not be controlled by the team.

In case of schedule or budget overruns, the documentation of assumptions supports a clearassignment of responsibility.

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36. Which is normally not regarded as an element of Cost of quality?

Prevention costs

Maintenance cost

Appraisal costs

Failure costs


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37. You have recently been assigned as a project manager to a new B-O-T (Build, Operate, Transfer)capital project. Reviewing the initial documentation you found out that it has been calculated with avery small margin during operations of its product for the shareholders. What should you do?

As you are not responsible for lifecycle costing, you don't have to worry about operationprofits. Focus on project costs from initiation through handover.

Ensure maximum profits by buying the best and cheapest items, components and modules -potentially from a big number of different suppliers - and integrating them.

Create a realistic plan broken down to a sufficient level of detail. Perform all risk managementprocesses. Ensure real-time communications with all stakeholders.

Try to get a second project manager assigned to share decision making and accountability toshareholders with the person.

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38. A project is handled by departments of an organization and expedited by a project coordinator.Which of the following statements is most likely to be true?


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The performing organization is a weak matrix.

The performing organization is doing "management by projects".

The performing organization is a strong matrix.

The performing organization is projectized.

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39. You are project manager in a global project with a team consisting of people from various countries.What can you try to prevent misunderstandings due to cross-cultural differences?

Use all communication methods available that are suitable for the team and follow up inwriting when communicating verbally. Remember that cultural and individual diversity mayhelp project teams solving unforeseen problems during the course of the project.

When you are about to form a team for your project, keep in mind that some cultures aredeveloped, others are more primitive. Some have values, some not. You should consequentlyavoid choosing members from countries with cultures that are not similar to your own.


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Cultural dilemmas can prevent any project from being successful. They should therefore besmoothed or suppressed so as to make sure that they cannot disrupt project work. Your effortshould concentrate on communication that can help reach that goal.

As norms regarding communication habits differ significantly across various cultures,communicating between people from different countries should only be done using language.The nonverbal dimension simply bears too many risks.

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40. Which statement on conflicts is true?

Conflict resolution should focus on people, not issues.

Conflict is natural and forces a search for alternatives.

Conflict should always be handled in private and not in the team.

Too much openness is a common cause of conflict.


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41. A change request in a project has been rejected some weeks ago. Yesterday, the project managerfound out that it nevertheless has been implemented by the team members, who knew of thechange request, but not of the rejection.

In order to avoid such a situation, Rejected change requests should be consistently communicatedto stakeholders through which process?

Report performance

Verify scope

Perform integrated change control

Monitor and control risks

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42. What is a trigger in project risk management?

An expected situation causing an unidentified risk to occur

A warning sign that a previously identified risk might be occurring or has occurred


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An unexpected situation causing an identified risk to occur

An unexpected situation causing an unidentified risk to occur

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43. According to the project plan, a contractor is scheduled to deliver some software components todayafternoon. A regular payment is due to be made to this contractor tomorrow.

You and your project team received a note this morning informing you that the software deliverywill be delayed by 2 weeks.

What should you do right now?

You should delay the payment also for 2 weeks.

You must immediately find a different contractor.

You should conduct a meeting with the contractor to resolve the delivery issues before makingthe payment.

You should make the payment and reschedule the project plan.

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44. In a software company a large number of simultaneously performed projects utilize the samegroups of human and other resources.

What is the term commonly used for this situation?

Concurrent engineering

Resource over-allocation

Resource pooling

Program management

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45. What does the acronym RACI commonly stand for in project management?

Responsible, A ccountable, to be Consulted, to be Informed

Remote, A ttached, Connected, Integrated


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RiskAnalysis andCaution Initiative

RandomlyA ccessible CashflowInformation

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46. You have used estimates made by your team members and applied the Critical path method tocompute a Network logic diagram for your project. Then you found out that it cannot be sufficientlyoptimized for scarce resources and fast progress towards a given deadline. What should you donext?

Apply resource leveling heuristics to uncritical activities only.

Reduce estimates on duration and work efforts by an adequate percentage.

Apply Three-point estimation and Critical chain project management.

Remove physical constraints and replace hard logic with soft logic.


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47. Liquidated damages (LDs) are contractually agreed payments in order to...

...give the contractor an incentive to meet an aggressive schedule or challenging qualityobjectives.

...penalize the contractor for late completion of a project or failure to meet specifications.

...cover the customer's costs caused by late completion or failure to meet specifications by thecontractor.

...make a bid or proposal binding for the offerer while the customer has time to select amongvarious bidders.

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48. What should not be covered by a risk management plan?

Roles and responsibilities for handling project risks

Timing of project risk management activities

The methodological approach used for risk management

Individual risks and potential responses to them

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49. You are assigned as the project manager to a project which had a one-time cost variance in the past

caused by unexpected rework which has meanwhile been finished. You perform Earned ValueAnalysis and find the following results:

EV: 250,000; PV: 200,000; AC 275,000

BAC is 500,000.

What is right?

EAC = 550,000

EAC = 525,000

EAC = 500,000


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EAC = 425,000

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50. An estimation has been made that the construction of a residential home will cost a certain amountper square foot of living area. This is an example of what type of estimating?

Analogous estimating

Bottom-up estimating

Top-down estimating

Parametric modeling

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51. What is true for prototypes?

Prototyping causes significant costs and should be avoided wherever possible.

They are tangible and allow for early feedback on requirements by stakeholders.

Prototypes are mostly developed toward the end of a design or build phase.

Prototypes increase the risk of misunderstandings between developers and users.

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52. What is a constructive change?

A change request that helps improving the project and its product, service or result and isdiscussed generally in a friendly style.

A direction by the buyer or an action taken by the seller that the other party considers anundocumented change to the contract.


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A field change or ad-hoc change mandated by the project customer in a public constructionproject.

A change request which will lead to the re-construction of an older version of the projectperformance baseline by the contractor.

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53. Which of the following is generally not regarded to be a motivator according to Frederick Herzberg?

Working conditions and interpersonal relations

Responsibility for enlarged task

Interest in the task

Recognition for achievement


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54. What is true for modern project management? Project managers need...

... to have a strict standing in negotiating

... to show experience in tricking business partners

... to be team players and facilitators instead of "bosses"

... to be strongly linked to local traditions

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55. You are the project manager in an engineering project and have recently signed a contract with asoftware vendor for the development of a complicated control solution. The software will be used tocontrol machinery equipment which your project team is currently developing. The contract is alump-sum contract. The contractor has target cost estimated which seem rather low to you. Whichof the following statements is not true for this situation?


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It is the contractor's risk in this type of contract that their profit may vanish if costs have beenunderestimated.

This form of contract should only be chosen when all the requirements for the building of theproduct are well-known by all parties involved.

In a fixed-price contract, change requests can cause issues regarding additional time andextra costs for the changes to be applied.

It is likely that your organization may have to assume any unexpected additional costs for thesoftware development.

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56.

A review to determine whether of project activities comply with organizational and project policies,processes, and procedures is commonly called

Quality auditing

Inspection

Quality testing

Reject screening

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57. Which of the following is true in regard to the Code of Accounts?

It allows one to easily identify the breakdown level of the item in the resource structure.

It describes the coding structure used by the performing organization to report financialinformation in its general ledger.

It is the collection of unique identifiers generally assigned to WBS items.

It defines ethical behavior in the project and the responsibilities to the customer and theprofession.

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58. You are the manager of your company's project management office. The company is running manyconcurrent projects; most of them share a resource pool of technical staff. Understanding how

resources are utilized across projects has been found essential to overall project performance,including cost effectiveness and profitability.

This morning you received a message that the resource pool members will be unable to perform as

planned for the next months because the overall work load has grown too high and while delays are


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adding up, the morale of the staff is going down.

What should you do next?

Ensure that quantitative information for all projects is being made available in a uniform andreliable fashion and verify that the project management methodology is adhered to. Thenconsolidate the information to get an understanding of the problems related with the use ofshared resources.

Implement an enterprise project management software solution which is able to level thehuman resources across the various projects and which has the capability to model resourceassignment on a percentage level thus optimizing resource utilization for the overallorganization.

Do nothing related to the described problem unless you are explicitly requested by theorganizations upper management. Supporting decision making on the level on which projectportfolio management is done, is not the project management office's business.

Evaluate project management software which supports planning and scheduling acrossenterprise-wide project portfolios. Avoid managing the availability of shared enterpriseresources for the projects run by an organization because this is not the business of a project

management office.

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59.

You have been criticized that certain specifications in your Scope Statement do not pass the test forSMART objectives. What are SMART objectives?

Objectives specified in far more detail than necessary for a execution of a successful project.

Easily achievable objectives which help you reducing the pressure on yourself and the team.

Objectives that should be achieved in order to attain formal recognition by both the customerand the project sponsor.

Objectives that are described using specific, measurable, assignable, realistic and time-relatedspecifications.

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60. You have been assigned as a project manager to a software project. While you and your team areworking on a WBS (Work breakdown structure), estimations for activity durations based on theactivity list vary significantly. Which additional documents may help you clarify this situation?

Milestone list and scope baseline.

Project schedule network diagrams and human resource plan.

Activity cost estimates and scope baseline.

Activity attributes and project scope statement.

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61. You are performing Earned value technique on your project.

After budget approval, an additional and unexpected cost item has been identified, which made theproject more expensive some weeks ago. The item has meanwhile been paid by the project team,and it is expected that for the remaining duration of the project, costs will be as budgeted.

In this case, which is the best formula to calculate EaC (Estimate at Completion)?

EaC = BaC - CV

EaC = BaC / CPI

EaC = AC + BtC / CV


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You can not compute the EaC.

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62. During a company event, you had the opportunity to talk to a colleague project manager. He toldyou that in his current project actual costs are 15% under cumulated costs budgeted for today.

What do you think?

The information given to you by the colleague is not sufficient to assess project performance.

The project will probably be completed with total costs remaining under budget until the end.

A significant cost increase during the further course of the project will probably bring the costsback to baseline level.

Original cost forecasting and budgeting for the project must have been poor to allow thisvariance.

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63. What is the meaning of a concept called the "Journey to Abilene"?

Project managers should visit their customers far more often than what is usual in order toavoid misunderstandings and bad emotions.


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International projects may have an increased need for traveling which can lead to additionalcosts and troubles with time zones.

Committee decisions can have the paradox outcome, that a jointly made or approved decisionis not desired by any individual group member.

A project is a temporary endeavor undertaken to create a unique product, service or result.Repeating it would be similar to making the same journey twice.

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64. Which of the following statements describes best the relationship between project phases and theProject life cycle?

The Project life cycle includes the time when the project is performed and the expectedproduct lifespan after that.

In project management, the sequence of project phases and phase gates is often referred toas Project life cycle.

The Project life cycle is regarded as a sequence of project activities while phases are definedto control overlapping activities.


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The Project life cycle describes how iterations of project management processes are usedwhen a project schedule is developed.

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65.

Which is an appropriate order in most project situations for the development of scope-relateddocuments?

1. Project SOW (Statement of work), 2. Project charter, 3. Project scope management plan, 4.Project scope statement, 5. WBS (Work breakdown structure) and WBS dictionary.

1. Work breakdown structure, 2. Scope statement, 3. Project charter, 4. CSOW (Contractualstatement of work), 5. Contractual Work breakdown structure

1. Feasibility study3. Contract, 4. CWBS (Contractual work breakdown structure), 5. Scope ofwork descriptions, 6. PID (Project initiation document).

1. BOM (Bill of materials), 2. CAP (Control account plan), 3. Project charter4. Changemanagement plan,5. Scope baseline.

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66. What is the S-curve in project management?


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A graph that is generated if a normal curve is integrated.

A graph that is to be integrated to generate a normal curve.

A metaphoric description of the short term uncertainties that are present in every project.

The graph that describes the typical growth of earned value during the course of the project.

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67.

An output of the Estimate activity resources process is a document called "Activity resourcerequirements". It identifies the types and quantities of resources...

...while the term resources is limited to equipment and materials.

...required for each activity in a work package.

...while the term resources is limited to human resources.

...to be obtained solely from the performing organization.

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68.

What is not the purpose of Configuration control when Configuration management is applied in aproject?

Verification that the configuration identification for a configuration item is accurate, complete,and will meet specified program needs.

Ensuring that proposed and approved changes to configuration items are fully analyzed.

Ensuring that proposed and approved changes to configuration items are fully documented.

Managing and controlling the frequently requested changes to a project by applying agreed

rules.

See references

Marked for review

69.

Which statement describes best the meaning of the term Cost baseline?

A cost baseline is always created by translating time-phased cost information into cost data onactivity or work-package level.

A cost baseline is an approved time-phased budget that will be used to measure and monitorcost performance on the project.

Data to draw a cost baseline can be easily generated and updated as necessary from

information related to actual project cost.A cost baseline is usually displayed in the form of an inverse S-curve drawn from thebeginning of the project until data date.

See references

Marked for review


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70. Which is not true in regard of RoI (Return on Investment) for a project?

It defines the cumulated net income from an investment at a given point in time or during adefined period.

It includes investment, direct and indirect costs and may include allowances for capital cost,depreciation, risk of loss, and/or inflation.

It is most commonly stated as a percentage of the investment or as a dimensionless indexfigure.

It is the time when cumulated net income is equal to the investment.

See references

Marked for review

71.

A project sponsor requested Earned Value Data on two concurrent projects from the projectmanagers. Both projects are regarded as equally important and strategically beneficial and have

been finished by over 80%. He received the following information:Project A: PV: $1,800,000 EV:$2,300,000 AC: $2,100,000Project B: PV: $2,000,000 EV: $1,500,000 AC: $1,600,000Thesponsor considers to shift some resources from Project A to Project B to speed up the secondproject which is currently behind schedule. What is the most likely outcome of such a measure?

Changing team assignments during late course of a project typically increases cost efficiency.

Changing team assignments during late course of a project typically increases time efficiency.

According to the Law of diminishing returns, the consolidated Cost variance of the two projectswill decrease.

According to the Law of diminishing returns, the consolidated Cost variance of the two projectswill increase.


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See references

Marked for review

72. Which of the following statements describes best the relationship of quality and grade?

Low grade is always a problem; low quality may be overcome by a good rework and repairprocess.

Grade is a category or rank given to entities having different functional requirements but thesame need for quality.

Both quality and grade can often be improved through intelligent measuring, testing andexamining.

Low quality is always a problem as it bears on the ability of an item to meet requirements; lowgrade may sometimes be acceptable.

See references

Marked for review


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73.

Network templates which contain only portions of a network are often referred to as

Subnetworks or fragment networks

Subprojects

Programs

WBS items

See references

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74. What is the Internal Rate of Return (IRR) of a project?

The time period needed to pay back the investment from a project when future income isdiscounted.

The inherent discount rate or investment yield rate produced by the project over a pre-definedperiod of time.

The rate of negative risk that can be accepted for a project without turning the Expected netpresent value negative.

The expected benefit from a projects deliverable calculated as a percentage of the originalinvestment over a specified time period.


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See references

Marked for review

75.

You just created the following network logic diagram to describe the planned flow of activities for

your project which will start tomorrow:

Which potential inconsistency in the diagram should you solve right now?

Activity E is a logical dangle in relation to the sink before the finish milestone.

Activity F is a logical dangle in relation to the burst point after the start milestone.

You cannot calculate a critical path when lags and/or leads are calculated in percent.

Activities E to F need another task drawn as a hammock to calculate Level Of Effort.

RESPUESTAS

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1. ________ is typically not referred to as a buffer type in Critical Chain project management.

Resource buffer

Free buffer

Feeding buffer

Project buffer


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See references

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2. A company has to make a choice between two projects, because the available resources in moneyand kind are not sufficient to run both at the same time. Each project would take 9 months andwould cost $250,000.

1. The first project is a process optimization which would result in a cost reduction of $120,000 per year.This benefit would be achieved immediately after the end of the project.

2. The second project would be the development of a new product which could produce the following netprofits after the end of the project:

1. year: $ 15,000

2. year: $ 125,000

3. year: $ 220,000

Assumed is a discount rate of 5% per year. Looking at the present values of the benefits of theseprojects in the first 3 years, what is true?

Both projects are equally attractive.


The second project is more attractive by app. 5%.


See references

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3. A production process has been defined as part of an industrial equipment manufacturing project. Theprocess is intended to produce steel bolts with a length of 20 cm. The control limits are 19.955cmand 20.045cm.

The measurements made at the end of the process yielded the following results:

20.033cm, 19.982cm, 19,995cm, 20.006cm, 19.970cm, 19.968cm, 19.963cm, 19.958cm,19.962cm, 19.979cm, 19.959cm.

What should be done?


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The process is under control. It should not be adjusted.

A special cause should be investigated, the process should be adjusted.

The control limits should be adjusted.

The measuring equipment should be recalibrated.

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4. Your project management team includes two external consultants each from a different company.You found that repeated conflicts between the two consultants already slow down project progressand jeopardize achievement of objectives.Which stage of team development can be difficult toovercome in such a situation?

Storming from Forming, Storming, Norming, Performing

Panic from Enthusiasm, Panic, Hope, Solution

Kickoff from Assignment, Kickoff, Training, Communicating

Frustration from Direction, Frustration, Cooperation, Collaboration

See references


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Marked for review

5. During a project Earned Value Analysis is performed and gives the following numbers:

EV: 523,000; PV: 623,000; AC: 643,000.

Which results are correct?

CV: +120,000; SV: +100,000

CV: +100,000; SV: +120,000

CV: -100,000; SV: -120,000

CV: -120,000; SV: -100,000

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6. A project manager spent some days to create a multi-page document which he called Projectcharter. The document should have been issued by the project sponsor. The sponsor found thedocument outsized and asked for a condensed document.

Which of the following is not normally an element of the Project charter?

The authority level of the project manager

Detailed control account and work package descriptions

The business need that the project was undertaken to address

High-level risks

See references


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Marked for review

7. A document called ____________ is created by decomposing the project scope into smaller, moremanageable elements.

Scope Statement

Network Logic Diagram

Work Breakdown Structure

Requested Change

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8.

Which of the following tools is used to create a Risk Management Plan?

Risk planning meetings

Documentation reviews

Data precision rankings


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Diagramming techniques

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9. In order to speed up a project, you made a decision to fast-track a phase currently performed withfive team members and another one which was planned to begin in four weeks time with another

five team members.

Which of the following activities should you do first?

Make sure that all exit criteria of the consecutive phase have been met to ensure the flow of

communications in a team situation which is more complex by a factor of 2.

Make sure that all entry criteria of the previous phase have been met by planning andperforming a phase gate meeting to assess technical aptness.

Make sure that all exit criteria of the previous phase have been met by planning andperforming a phase gate meeting to assess technical performance.

Restructure your team and delegate tasks in order to ensure the flow of communications in a

team with the number of communication channels increased by a factor of 4.5.

See references

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10. A project manager needs a certain number of identical valve housings for a power station project.

He starts with 100 raw items which are made as metal castings. Out of this batch, 15 are foundleaking from micro-porosities in a subsequent pressure test. 6 of these housings can be recoveredby a special sealing process for raw castings.

The 91 housings are then being machined. After this process step 10 machined castings are foundleaking. 3 of these items can also be saved using another sealing process for machined castings.

The remaining 84 housings are getting mounted to the power plant pipe work. During a pressuretest after this process step it is found that 12 valves are leaking. Out of these a number of 6 valves


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can be saved by replacing the sealing rings used.

Finally the project manager has 78 valves which he can use. What is true?

RTY = 0.84

RTY = 0.78

RTY = 0.91

RTY = 0.65

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11.

You found the following Earned Value Analysis information for a recently closed out project:SPI =0.7, CPI = 1.0

The project has been cancelled while it was executed. At that time the project was behindschedule and on budget.

The project's deliverables have all been finished. The project came in behind schedule but onbudget.

The project's deliverables have all been finished. The project came in ahead of schedule buton budget.

The project's deliverables have all been finished. The project came in on schedule but overbudget.

See references

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12.

Which should be included in a Requirements management plan?

The document should trace requirements to project scope / WBS deliverables.


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It should describe how requirements activities will be planned, tracked, and reported.

It should trace high-level requirements to more detailed requirements.

It should trace requirements to business needs, opportunities, goals, and objectives.

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13. In a traditionally drawn decision tree, a circle represents ___________.

a chance to which no Expected Monetary Value can be assigned so that a likely pay-off cannot be shown.

a decision to which no Expected Monetary Value can be assigned so that a likely pay-off cannot be shown.

a chance to which an Expected Monetary Value may be assigned to calculate the most likelypay-off.

a decision to which an Expected Monetary Value may be assigned to calculate the most likely

pay-off.

See references


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Marked for review

14.

A project management team has subcontracted work to a service company. Which of the followingtools is the best choice to assure that this company will be able to meet the quality requirements ofthe project?

Quality audit

Deliverable inspection

Fixed price contract

Service level agreement

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15. With your team you are using judgment from subject matter experts to identify and analyze projectrisks. There is a small number of experts available, but some of them have long been in a teacher-student or manager-assistant relationship.

Which of the following techniques can ensure best that there is no dominating opinion during anexpert review?

Peer review

SWOT analysis

Delphi technique

Monetary value calculation

See references


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Marked for review

16. You are running a project for a customer based on a cost reimbursable contract with the followingterms:

Target costs: $ 1,000,000

Fixed fee: $ 100,000

Benefit/cost sharing: 80% / 20%

Price ceiling: $ 1,200,000

Which is the PTA (= Point of total assumption, Break point) of the project?

$1,300,000

$1,500,000

$80,000

$1,125,000

See references

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17. During execution of a project which is performed for a customer on a T&M (Time and Material)contract base, a new project manager is taking over the assignment.

He discovers that two members assigned to the project have charged time without performing anywork for the project customer. Upon further investigation, he determines that this occurred becausethere have been no other project assignments open for these employees. The customer is unawareof these facts.

What should the project manager do?

Try to find some productive work for these staff members in the project and leave them onthe team.

The best thing is to do nothing. The customer will not realize the problem anyway.

Try to find a responsible person for the over-assignment who can be made accountable.


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Take the two people off the team immediately and arrange for the refund of the excesscharges to the customer.

See references

Marked for review

18. Start dates in the following network logic diagram are defined as early morning, finish dates areevening.

If tasks are scheduled to begin at early start date, what is true?

Activity B has a free float of 10 d.

Activity B has a total float of 10 d.

Activity A has a free float of 10 d.

Activity A has a total float of 10 d.

See references

Marked for review


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19. Your project is executed with a globally spread virtual team. The project progress has been found tobe too slow. Which measure is most likely to immediately speed up the project?

Technical training for all team members

Daily phone conferences and detailed reporting

A team meeting at a location convenient to all team members

Collocation of team members at a suitable place

See references

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20.

A project management team wants to procure some customized products which are available inidentical grade and quality from many vendors. What should be included in the procurement

package to ensure that their offers will be comparable?

A statement of work describing the needs of the project in sufficient detail to enable vendorsto make suitable proposals

A statement of work specifying attributes and metrics of the requested deliverables in detail toallow vendors submission of bids

The approved project scope statement, the WBS which should be broken down to WorkPackage level and the WBS dictionary

The risk management plan and the reports from those risk management reviews which havebeen made so far


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See references

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21. Which of the following becomes increasingly important in a virtual team environment?

Requirements engineering

Communication planning

Formal procurements closure

Network diagramming

See references

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22. You are assigned as the project manager to a project which is executed for a customer under FP

contract. Your customer informed you this morning that they insist on certain "refinements" of theproject scope. You agree that the requested actions make really sense to the project, but believe


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that they constitute a major change increasing the project scope. What should you do next?

Accept the request of the customer. Diligently document the additional costs and workinghours spent by yourself and the team on the implementation of the change and invoice theseto the customer at appropriate rates.

Perform Earned Value Analysis to assess the current status of the project and get all thenumbers you need to communicate the case to the Change Control Board which then will haveto make the best decision regarding the customer request.

Check the contract, the project charter, the scope statement and other documents related tothe project and the contract. Implement ADR (Alternative Dispute Resolution) procedures if

the conflict cannot be resolved otherwise.

Talk to the project sales department and find a joint solution with them how to best reject therequest considering the commercial and strategic value of the customer to the organizationyou are working for.

See references

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23. A prime contractor in a customer project under CPFF contract has run into unexpected technicalproblems. Fixing them will require a lot of additional work to be done. The company made a decisionto book more staff and equipment from their subcontractors in order to adhere to the agreedtimeline. The customer agreed to this decision. What will most likely happen?

The contractors indirect costs will increase and the customers payment for them willincrease, too.


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The contractors indirect costs will increase but the customers payment for them will notincrease.

The contractors indirect costs will not increase but the customers payment for them will.

Neither the contractor's indirect costs nor the customers payment for them will increase.

See references

Marked for review

24. A project management team is evaluating the causes that might contribute to unsatisfactoryperformance and quality. Which of the following statements is not true?

Normal process variation is attributable to random causes and sometimes also called "whitenoise".

Special causes are easier to predict and handle than random causes (also called commoncauses).

Special causes are unusual events which are difficult to foresee and often produce outliers.


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A process can be optimized to limit the bandwidth of variations due to random causes.

See references

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25. You are performing a project management audit in your company and find that most of the projectplans are neither consistent nor up-to-date.

Which of the following statements is not true?

Projects should never be executed without a valid, updated and working project managementplan.

The consistency of the project management plan is secondary because it is only the resultsthat matter.

A great deal of effort is required to develop and update a project plan, but the benefits include

less pressure on all stakeholders and a resulting product that will satisfy the requirements.

Poor planning and insufficient updating of project management plans are common reasons forcost and time overruns.

See references

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26. You want to perform active risk acceptance. What should you do?

Create contingency reserves in resources, money and time.


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Develop a plan to minimize impact in case that an identified risk occurs.

Develop a plan to minimize the probability of occurrence for identified risks.

Make additional resources available to speed up the project.

See references

Marked for review

27. A project manager made 3-point estimates on a critical path and found the following results:

Assuming 3 Sigma precision level for each estimate, what is the standard deviation of the alloverpath?

App. 4.2 days

App. 5.2 days

App. 6.2 days

You can not derive the path standard deviation from the information given.


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28.

When do bidder conferences normally take place?

After the contract has been awarded to keep alternatives open.

After submittal of bid or proposal, but before contract award.

Prior to the submittal of a bid or proposal by the bidder.

After technical meetings with bidders to discuss contract requirements.

See references

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29. What is defined by control limits?

A measuring instrument solely used to describe process capability. The process is foundcapable if the 3 Sigma range is exceeded by not more than 0.3% of a tested sample lot.

The limits of the six Sigma area on either side of a control chart to plot measured values; datafound outside the area are out of specification and can lead to rejection of an entire batch.


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The area consisting of typically three standard deviations on either side of a mean value of acontrol chart to plot measured values found in statistical quality control

The area consisting of typically three standard deviations on either side of a mean value of acontrol chart to plot measured values found in quality assurance

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30.

The Scope baseline consists of what?

Scope statement, WBS, and WBS dictionary

Cost baseline, Quality baseline and Schedule baseline

Configuration management plan and Configuration identification document

Procurement statement of work and Project scope statement

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31. Activity 1 has a duration of 20 days, Activity 2 of 10 days, Activity 3 of 5 days and Activity 4 of 6days.


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What is the minimum total duration between the Milestones A and B?

36 days

37 days

39 days

42 days

See references

Marked for review

32.

Which tool and technique is used to Create WBS and Define activities?

Nominal group technique

Human resource assignment

Brainstorming

Decomposition

See references


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Marked for review

33. Which of the following statement(s) regarding whistle-blowing is/are not true?

a. It is a term used to define an employees decision to disclose information on unethical, immoral orillegal actions at work to an authority figure.

b. An employee should always discuss the matter with people external to the company before following the"chain of command" and discuss it with the immediate superior.

c. The consequences of whistle-blowing are often extreme and include possible being branded as havingbad judgment, firing, civil action and imprisonment.

d. Carefully considered whistle-blowing can lead to the end of unethical business practices.

a

b

b, c

c, d

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34. Which of the following statements is not true?

Attribute sampling is the process of assessing whether results conform to specifications or not.

Prevention means keeping errors out of the process by applying actions before the processstarts changing its input.


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Variables sampling means that the result is classified into one of the 3 categories:"acceptable"- "acceptable after rework" - "rejected".

Inspection is often mainly done to keep errors out of the hands of the customer instead of asa means of process control.

See references

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35. Which statement describes best why you should document assumptions?

Assumptions might prove to be wrong. Knowing which assumptions were incorrect allowsbaseline adjustments in case of project crisis.

Assumption analysis is a valuable tool and technique to explore the validity of assumptionsduring risk identification.

Assumptions limit the project management team's options for decision making because theycan not be controlled by the team.

In case of schedule or budget overruns, the documentation of assumptions supports a clearassignment of responsibility.


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36. Which is normally not regarded as an element of Cost of quality?

Prevention costs

Maintenance cost

Appraisal costs

Failure costs

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37. You have recently been assigned as a project manager to a new B-O-T (Build, Operate, Transfer)

capital project. Reviewing the initial documentation you found out that it has been calculated with a


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very small margin during operations of its product for the shareholders. What should you do?

As you are not responsible for lifecycle costing, you don't have to worry about operationprofits. Focus on project costs from initiation through handover.

Ensure maximum profits by buying the best and cheapest items, components and modules -potentially from a big number of different suppliers - and integrating them.

Create a realistic plan broken down to a sufficient level of detail. Perform all risk management

processes. Ensure real-time communications with all stakeholders.

Try to get a second project manager assigned to share decision making and accountability toshareholders with the person.

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38. A project is handled by departments of an organization and expedited by a project coordinator.Which of the following statements is most likely to be true?

The performing organization is a weak matrix.

The performing organization is doing "management by projects".


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The performing organization is a strong matrix.

The performing organization is projectized.

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39. You are project manager in a global project with a team consisting of people from various countries.What can you try to prevent misunderstandings due to cross-cultural differences?

Use all communication methods available that are suitable for the team and follow up inwriting when communicating verbally. Remember that cultural and individual diversity mayhelp project teams solving unforeseen problems during the course of the project.

When you are about to form a team for your project, keep in mind that some cultures aredeveloped, others are more primitive. Some have values, some not. You should consequentlyavoid choosing members from countries with cultures that are not similar to your own.

Cultural dilemmas can prevent any project from being successful. They should therefore besmoothed or suppressed so as to make sure that they cannot disrupt project work. Your effortshould concentrate on communication that can help reach that goal.

As norms regarding communication habits differ significantly across various cultures,communicating between people from different countries should only be done using language.The nonverbal dimension simply bears too many risks.


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40. Which statement on conflicts is true?

Conflict resolution should focus on people, not issues.

Conflict is natural and forces a search for alternatives.

Conflict should always be handled in private and not in the team.

Too much openness is a common cause of conflict.

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41. A change request in a project has been rejected some weeks ago. Yesterday, the project manager

found out that it nevertheless has been implemented by the team members, who knew of the


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change request, but not of the rejection.

In order to avoid such a situation, Rejected change requests should be consistently communicatedto stakeholders through which process?

Report performance

Verify scope

Perform integrated change control

Monitor and control risks

See references

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42. What is a trigger in project risk management?

An expected situation causing an unidentified risk to occur

A warning sign that a previously identified risk might be occurring or has occurred

An unexpected situation causing an identified risk to occur

An unexpected situation causing an unidentified risk to occur


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43. According to the project plan, a contractor is scheduled to deliver some software components todayafternoon. A regular payment is due to be made to this contractor tomorrow.

You and your project team received a note this morning informing you that the software deliverywill be delayed by 2 weeks.

What should you do right now?

You should delay the payment also for 2 weeks.

You must immediately find a different contractor.

You should conduct a meeting with the contractor to resolve the delivery issues before making

the payment.

You should make the payment and reschedule the project plan.

See references

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44. In a software company a large number of simultaneously performed projects utilize the samegroups of human and other resources.

What is the term commonly used for this situation?

Concurrent engineering


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Resource over-allocation

Resource pooling

Program management

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45. What does the acronym RACI commonly stand for in project management?

Responsible, A ccountable, to be Consulted, to be Informed

Remote, A ttached, Connected, Integrated

RiskAnalysis andCaution Initiative

RandomlyA ccessible CashflowInformation

See references

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46. You have used estimates made by your team members and applied the Critical path method tocompute a Network logic diagram for your project. Then you found out that it cannot be sufficientlyoptimized for scarce resources and fast progress towards a given deadline. What should you donext?

Apply resource leveling heuristics to uncritical activities only.

Reduce estimates on duration and work efforts by an adequate percentage.

Apply Three-point estimation and Critical chain project management.

Remove physical constraints and replace hard logic with soft logic.

See references

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47. Liquidated damages (LDs) are contractually agreed payments in order to...

...give the contractor an incentive to meet an aggressive schedule or challenging qualityobjectives.


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...penalize the contractor for late completion of a project or failure to meet specifications.

...cover the customer's costs caused by late completion or failure to meet specifications by thecontractor.

...make a bid or proposal binding for the offerer while the customer has time to select amongvarious bidders.

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48. What should not be covered by a risk management plan?

Roles and responsibilities for handling project risks

Timing of project risk management activities

The methodological approach used for risk management

Individual risks and potential responses to them


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49. You are assigned as the project manager to a project which had a one-time cost variance in the pastcaused by unexpected rework which has meanwhile been finished. You perform Earned ValueAnalysis and find the following results:

EV: 250,000; PV: 200,000; AC 275,000

BAC is 500,000.

What is right?

EAC = 550,000

EAC = 525,000

EAC = 500,000

EAC = 425,000

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50. An estimation has been made that the construction of a residential home will cost a certain amountper square foot of living area. This is an example of what type of estimating?

Analogous estimating


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Bottom-up estimating

Top-down estimating

Parametric modeling

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51. What is true for prototypes?

Prototyping causes significant costs and should be avoided wherever possible.

They are tangible and allow for early feedback on requirements by stakeholders.

Prototypes are mostly developed toward the end of a design or build phase.

Prototypes increase the risk of misunderstandings between developers and users.


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See references

Marked for review

52. What is a constructive change?

A change request that helps improving the project and its product, service or result and isdiscussed generally in a friendly style.

A direction by the buyer or an action taken by the seller that the other party considers anundocumented change to the contract.

A field change or ad-hoc change mandated by the project customer in a public constructionproject.

A change request which will lead to the re-construction of an older version of the projectperformance baseline by the contractor.

See references

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53. Which of the following is generally not regarded to be a motivator according to Frederick Herzberg?

Working conditions and interpersonal relations

Responsibility for enlarged task

Interest in the task

Recognition for achievement

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54. What is true for modern project management? Project managers need...

... to have a strict standing in negotiating

... to show experience in tricking business partners


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... to be team players and facilitators instead of "bosses"

... to be strongly linked to local traditions

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55. You are the project manager in an engineering project and have recently signed a contract with asoftware vendor for the development of a complicated control solution. The software will be used tocontrol machinery equipment which your project team is currently developing. The contract is alump-sum contract. The contractor has target cost estimated which seem rather low to you. Whichof the following statements is not true for this situation?

It is the contractor's risk in this type of contract that their profit may vanish if costs have beenunderestimated.

This form of contract should only be chosen when all the requirements for the building of the

product are well-known by all parties involved.

In a fixed-price contract, change requests can cause issues regarding additional time andextra costs for the changes to be applied.

It is likely that your organization may have to assume any unexpected additional costs for thesoftware development.


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56.

A review to determine whether of project activities comply with organizational and project policies,

processes, and procedures is commonly called

Quality auditing

Inspection

Quality testing

Reject screening

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57. Which of the following is true in regard to the Code of Accounts?

It allows one to easily identify the breakdown level of the item in the resource structure.

It describes the coding structure used by the performing organization to report financialinformation in its general ledger.


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It is the collection of unique identifiers generally assigned to WBS items.

It defines ethical behavior in the project and the responsibilities to the customer and theprofession.

See references

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58. You are the manager of your company's project management office. The company is running manyconcurrent projects; most of them share a resource pool of technical staff. Understanding howresources are utilized across projects has been found essential to overall project performance,including cost effectiveness and profitability.

This morning you received a message that the resource pool members will be unable to perform asplanned for the next months because the overall work load has grown too high and while delays are

adding up, the morale of the staff is going down.

What should you do next?

Ensure that quantitative information for all projects is being made available in a uniform andreliable fashion and verify that the project management methodology is adhered to. Thenconsolidate the information to get an understanding of the problems related with the use ofshared resources.

Implement an enterprise project management software solution which is able to level thehuman resources across the various projects and which has the capability to model resource

assignment on a percentage level thus optimizing resource utilization for the overallorganization.

Do nothing related to the described problem unless you are explicitly requested by theorganizations upper management. Supporting decision making on the level on which projectportfolio management is done, is not the project management office's business.

Evaluate project management software which supports planning and scheduling acrossenterprise-wide project portfolios. Avoid managing the availability of shared enterpriseresources for the projects run by an organization because this is not the business of a projectmanagement office.


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59.

You have been criticized that certain specifications in your Scope Statement do not pass the test forSMART objectives. What are SMART objectives?

Objectives specified in far more detail than necessary for a execution of a successful project.

Easily achievable objectives which help you reducing the pressure on yourself and the team.

Objectives that should be achieved in order to attain formal recognition by both the customerand the project sponsor.

Objectives that are described using specific, measurable, assignable, realistic and time-relatedspecifications.

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60. You have been assigned as a project manager to a software project. While you and your team areworking on a WBS (Work breakdown structure), estimations for activity durations based on theactivity list vary significantly. Which additional documents may help you clarify this situation?

Milestone list and scope baseline.

Project schedule network diagrams and human resource plan.

Activity cost estimates and scope baseline.


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Activity attributes and project scope statement.

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61. You are performing Earned value technique on your project.

After budget approval, an additional and unexpected cost item has been identified, which made theproject more expensive some weeks ago. The item has meanwhile been paid by the project team,and it is expected that for the remaining duration of the project, costs will be as budgeted.

In this case, which is the best formula to calculate EaC (Estimate at Completion)?

EaC = BaC - CV

EaC = BaC / CPI

EaC = AC + BtC / CV

You can not compute the EaC.

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62. During a company event, you had the opportunity to talk to a colleague project manager. He toldyou that in his current project actual costs are 15% under cumulated costs budgeted for today.

What do you think?

The information given to you by the colleague is not sufficient to assess project performance.


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The project will probably be completed with total costs remaining under budget until the end.

A significant cost increase during the further course of the project will probably bring the costsback to baseline level.

Original cost forecasting and budgeting for the project must have been poor to allow this

variance.

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63. What is the meaning of a concept called the "Journey to Abilene"?

Project managers should visit their customers far more often than what is usual in order toavoid misunderstandings and bad emotions.

International projects may have an increased need for traveling which can lead to additionalcosts and troubles with time zones.

Committee decisions can have the paradox outcome, that a jointly made or approved decisionis not desired by any individual group member.

A project is a temporary endeavor undertaken to create a unique product, service or result.Repeating it would be similar to making the same journey twice.

See references


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64. Which of the following statements describes best the relationship between project phases and theProject life cycle?

The Project life cycle includes the time when the project is performed and the expectedproduct lifespan after that.

In project management, the sequence of project phases and phase gates is often referred toas Project life cycle.

The Project life cycle is regarded as a sequence of project activities while phases are definedto control overlapping activities.

The Project life cycle describes how iterations of project management processes are usedwhen a project schedule is developed.

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65.

Which is an appropriate order in most project situations for the development of scope-relateddocuments?

1. Project SOW (Statement of work), 2. Project charter, 3. Project scope management plan, 4.Project scope statement, 5. WBS (Work breakdown structure) and WBS dictionary.

1. Work breakdown structure, 2. Scope statement, 3. Project charter, 4. CSOW (Contractualstatement of work), 5. Contractual Work breakdown structure


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1. Feasibility study3. Contract, 4. CWBS (Contractual work breakdown structure), 5. Scope ofwork descriptions, 6. PID (Project initiation document).

1. BOM (Bill of materials), 2. CAP (Control account plan), 3. Project charter4. Changemanagement plan,5. Scope baseline.

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66. What is the S-curve in project management?

A graph that is generated if a normal curve is integrated.

A graph that is to be integrated to generate a normal curve.

A metaphoric description of the short term uncertainties that are present in every project.

The graph that describes the typical growth of earned value during the course of the project.

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67.

An output of the Estimate activity resources process is a document called "Activity resourcerequirements". It identifies the types and quantities of resources...

...while the term resources is limited to equipment and materials.

...required for each activity in a work package.

...while the term resources is limited to human resources.

...to be obtained solely from the performing organization.

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68.

What is not the purpose of Configuration control when Configuration management is applied in aproject?

Verification that the configuration identification for a configuration item is accurate, complete,and will meet specified program needs.

Ensuring that proposed and approved changes to configuration items are fully analyzed.

Ensuring that proposed and approved changes to configuration items are fully documented.

Managing and controlling the frequently requested changes to a project by applying agreedrules.

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69.

Which statement describes best the meaning of the term Cost baseline?

A cost baseline is always created by translating time-phased cost information into cost data on


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activity or work-package level.

A cost baseline is an approved time-phased budget that will be used to measure and monitorcost performance on the project.

Data to draw a cost baseline can be easily generated and updated as necessary frominformation related to actual project cost.

A cost baseline is usually displayed in the form of an inverse S-curve drawn from thebeginning of the project until data date.

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70. Which is not true in regard of RoI (Return on Investment) for a project?

It defines the cumulated net income from an investment at a given point in time or during adefined period.

It includes investment, direct and indirect costs and may include allowances for capital cost,depreciation, risk of loss, and/or inflation.

It is most commonly stated as a percentage of the investment or as a dimensionless indexfigure.

It is the time when cumulated net income is equal to the investment.

See references


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71.

A project sponsor requested Earned Value Data on two concurrent projects from the projectmanagers. Both projects are regarded as equally important and strategically beneficial and havebeen finished by over 80%. He received the following information:Project A: PV: $1,800,000 EV:$2,300,000 AC: $2,100,000Project B: PV: $2,000,000 EV: $1,500,000 AC: $1,600,000The

sponsor considers to shift some resources from Project A to Project B to speed up the secondproject which is currently behind schedule. What is the most likely outcome of such a measure?

Changing team assignments during late course of a project typically increases cost efficiency.

Changing team assignments during late course of a project typically increases time efficiency.

According to the Law of diminishing returns, the consolidated Cost variance of the two projectswill decrease.

According to the Law of diminishing returns, the consolidated Cost variance of the two projectswill increase.

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72. Which of the following statements describes best the relationship of quality and grade?

Low grade is always a problem; low quality may be overcome by a good rework and repairprocess.

Grade is a category or rank given to entities having different functional requirements but thesame need for quality.

Both quality and grade can often be improved through intelligent measuring, testing andexamining.


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Low quality is always a problem as it bears on the ability of an ite

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