New PMP Question & Answers with explanation
You are authorized to approve expenditures above $15,000. For the last several weeks, you have been negotiating the terms and pricing of a contract with a vendor, and you want to keep costs as low as possible. This has been an exceedingly difficult negotiation process. A colleague suggests you tell the vendor you can only approve expenses below $10,000 as a way to keep the price low. What do you do?
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Anne is a project manager. She has evaluated certain responses from prospective sellers and wants to select a contract model that will transfer risk to the seller. Which of the following should she select in order to achieve this?
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During the planning phase of your project, your team decided to procure a certain brand of hardware because it had the lowest price and came with free shipping and installation. This approach saved $6,000 over the other brands. Since that purchase, however, you discovered the annual maintenance costs for this hardware are $2,500 per year, and $12,500 over the life of the hardware. These costs were not budgeted in the project, nor were they included in the Total Cost of Ownership (TCO) analysis that was part of the project business case. What should you do?
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Administrative closure involves all the activities in a step-by-step manner to satisfy various completion and exit criteria for the project. This is part of which Project Management Knowledge Area?
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After receiving some news about a delay on one of your project tasks, you review the schedule to determine how it will affect the project. While there is a substantial delay on this task, it is not a critical path item and will not affect delivery of any of your milestones. Another project manager advises you to just present the milestone chart during your meeting with the project stakeholders and tell them the project is progressing as planned. What do you do?
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