PMP Questions ID 1028 project management is concerned with managing which type of project knowledge page 202

2011.

The project sponsor asks you to increase budget estimates by 25 percent to ensure that the project has enough funds budgeted. What should you do?

Select one

Add 25 percent to your contingency reserves

Fast track the project

Add 25 percent to all costs across the board

Ask for additional information

2012.

You are the project manager for a project and have just entered the third year of a scheduled four-year project. You need to evaluate new risks that have arisen since the project began. What agenda item do you need to add to your next team meeting?

Select one

Variance and trend analysis

Process Improvement Plan

Risk audit

Risk re-assessment

2013.

What is the BEST tool/technique that provides expected cost of a procurement by a third party and helps identify significant variations from cost estimates prepared in-house?

Select one

Bidder conferences

Buyer-conducted performance review

Screening system

Independent estimates

2014.

To create a quality product, the project management team invested in training the project team members and purchasing high-end equipment. Such costs are:

Select one

Failure costs

Costs of Nonconformance

Appraisal costs

Prevention costs

2015.

You are managing an enterprise solution deployment project. The end users are not happy with the solution. You decide to meet the end users and find out that they haven’t received proper training on the new system. What should you do first?

Select one

Arrange additional training

Investigate further into the issue and determine the root-cause

Update the issue log

Update the project management plan with the necessary changes

2016.

You are the project manager for GeoThermal Systems. Which of the following must be done FIRST before proceeding with a new project?

Select one

Product analysis

Create the Project Scope Statement

Stakeholder analysis

Obtain Project Charter approval

2017.

All team members have not yet been hired for a project. However, the project manager went ahead with estimating activity durations, budgeting, and other activities. What could likely happen to the activity durations?

Select one

The activity durations are likely to decrease.

The activity durations are likely to change.

The activity durations will remain the same.

The activity durations are likely to increase.

2018.

The senior analyst on a project came up with Activity Duration Estimates as follows: Activity A: 10 days + a lag of two days; Activity B: 1 week + a lead of three days. The project manager who reviewed these estimates raised some objections to them. What would they most likely be?

Select one

The analyst should have included percent variance information while mentioning the Activity Duration Estimate. This would indicate a range of possible results.

Activity Duration Estimates should not include any lag or lead information.

It is advisable not to mix up units such as days and weeks while coming up with Activity Duration Estimates.

The Activity Duration Estimate should have also mentioned the predecessor or successor activity to which the lag or lead is attached.

2019.

The sponsor of a project created a document that included the business need and the cost-benefit analysis. What would this document be termed as?

Select one

The project statement of work

The business case

The project management plan

The contract

2020.

Analysis of the scope performance resulted in a change request to the scope baseline. Change requests can include all the following except:

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