Reference no: EM13857195

Question 1: "Artifacts" in the Scrum terminology are the equivalent of deliverables in other project management approaches. Which one of the following is not an artifact created with Scrum?

a. Daily Scrum log

b. Burndown chart

c. Product backlog

d. Sprint backlog

Question 2: Projects cost money. The expense is spread over the entire project life cycle. Spending on which one of the following is most likely to lower the life cycle cost of the project?

a. In defining user requirements accurately

b. In procuring the latest development tools

c. In conducting extensive quality control

d. In implementing the change requests

Question 3: Projects have many requirements and it is difficult to ensure that every requirement has been implemented successfully. Which of the following tools will make it easier to do this?

a. Requirements documentation

b. Requirements management plan

c. Requirements traceability matrix

d. Project scope statement

Question 4: Developing a good work breakdown structure (WBS) is a challenging task. A set of good principles are available to aid in developing a good WBS with a corresponding dictionary. Which one of the following does not belong to this set?

a. Project managers should develop the WBS alone before sharing with other project team members

b. In the WBS a unit of work should be represented only once

c. Each WBS item must be described fully in the WBS dictionary

d. Only one team member will be responsible for a WBS item

Question 5: You are managing a project in which a few deadlines have been missed. Now, you are under pressure to get the project back on track to finish by the scheduled end date. You find that it is possible to fast track some of the activities. What does this mean?

a. Do some activities in parallel when they were originally planned to be sequential

b. Add more resources to some activities to complete them sooner

c. Remove some of the activities in the critical path

d. Outsource some of the activities to experts

Question 6: You have been asked to manage a product development project. Which of the following costs cannot be a cost of this project?

a. Labor

b. Advertisement

c. Electricity

d. Equipment

Question 7: Organizations take various approaches for the selection of projects. One such approach is to act on an impetus. Which one of the following is not an impetus for project selection?

a. Situations that have the potential to limit the growth of the organization

b. Situations that have the potential to improve the growth of the organization

c. Situations that are compatible with the project manager's experience

d. Situations that are imposed on the organization by a regulatory authority

Question 8: A project has accurate cost estimates. It is still important to prepare a project budget. Which one of the following is not a reason for creating the project budget?

a. To create a cost baseline

b. To have a more accurate project cost

c. To evaluate project progress

d. To understand cash flow requirements

Question 9: The responsibility of dealing with project change requests falls on the change control board (CCB). Which one of the following is not a primary function of the CCB?

a. Train the project team to control change requests

b. Issue guidelines on how to present change requests

c. Assess the change requests that have been presented

d. Oversee the implementation of approved change requests

Question 10: A project manager is putting together the project team. Of the 5 project management process groups which one does this activity belong to?

a. Initiating

b. Executing

c. Planning

d. Monitoring and controlling

Question 11: Project cost management encompasses four processes that help keep the project costs within an approved budget. In project cost management which of the following tasks must a project manager perform first?

a. Prepare the basis of estimates

b. Prepare the cost baseline

c. Prepare the cost management plan

d. Prepare the cost forecast

Question 12: Project scope management encompasses the processes used in and the results delivered by a project. It creates a common expectation among the stakeholders on what the project will deliver and how the project team will work to produce those results. Which of the following is not within project scope management?

a. Determining how the project's requirements will be managed

b. Estimating the costs of the project's requirements

c. Dividing the project requirements into tasks for the project team

d. Controlling changes to the project requirements

Question 13: Good decisions depend on availability of correct information. The project manager must take steps to ensure the accuracy of financial data. Which of the following is not the responsibility of the project manager in this regard?

a. Confirm team members are providing facts

b. Use the correct systems to record the costs

c. Update the financial data on schedule

d. Link data between project management software and main accounting software

Question 14: Which one of the following is true about the activity-on-arrow (AOA) approach to creating a project network diagram?

a. Bursts occur when multiple activities are followed by a single activity

b. Only activities related to deliverables should be included

c. No arrows should cross one another

d. All arrowheads should face to the left

Question 15: Project management standards describe what should be done. Methodologies describe how the work should be performed. Which methodology is a project manager in the United Kingdom likely to adopt?

a. Agile methods

b. Rational Unified Process (RUP) framework

c. PRojects IN Controlled Environments (PRINCE2)

d. Six Sigma methodologies

Question 16: Due to an unprecedented weather situation some of the equipment used in your project have been damaged. How will you get the funds to repair or replace the damaged equipment?

a. By modifying the budget

b. By using the contingency reserves

c. By using the management reserves

d. By communicating with the sponsor

Question 17: Stakeholders are the people involved in or affected by project activities. Who is the stakeholder that initiates, directs and funds a project?

a. Project sponsor

b. CEO

c. Top management

d. Project steering committee

Question 18: You have calculated the following three values for a project task: Earned Value (EV) is $8,000, Planned Value (PV) is $10,000 and Actual Cost (AC) is $7,000. Which of the following is true of the project task status?

a. Over budget, behind schedule

b. Over budget, ahead of schedule

c. Under budget, behind schedule

d. Under budget, ahead of schedule

Question 19: Interface management, an integral part of project integration management, deals with the exchanges between various stakeholders of a project. The number of interfaces is exponentially related to the number of stakeholders in a project thereby increasing the complexity of project management. Which of the following should a project manager do to have good interface management?

a. Limit the number of project stakeholders

b. Regularly meet and update project stakeholders

c. Organize the project stakeholders in distinct groups that meet only with each other

d. Identify key project stakeholders that require interactions

Question 20: Gantt charts are used widely to display planned and actual project schedules. What is the main advantage of this tool?

a. Shows relationships between tasks

b. Shows dependencies of tasks

c. Shows resource requirements of tasks

d. Shows task schedules in a standard format

Question 21: Implementing projects in a planned and phased manner will bolster its chances of success. A project life cycle is a sequential arrangement of project phases such as concept, development, implementation and close-out. Which one of the following is usually true about the initial phase of a project life cycle?

a. Level of uncertainty is lowest

b. Cost of major changes are highest

c. Project requirements are fully known

d. Resource needs are lowest

Question 22: Your organization is preparing the budget for the next three years. You and the rest of the project managers have been asked to provide cost estimates for the projects that could be initiated 2 years later. What type of cost estimate should you prepare?

a. Rough Order of Magnitude (ROM) estimate

b. Budgetary estimate

c. Definitive estimate

d. Analogous estimate

Question 23: At initiation, requirements for complex and innovative projects may be difficult to define in detail. An agile development method called Scrum is suitable for completing such projects. According to the Scrum framework, what happens during sprint planning?

a. A subset of requirements are chosen for implementation

b. A prioritized list of requirements are created

c. Progress is assessed everyday

d. A review of the work completed

Question 24: Your organization's revenues are 10 million and expenses are 9 million. As part of the project selection committee which one of the following projects do you determine will increase the profit margin the most?

a. A project that increases the revenue to 11 million and expenses to 10 million

b. A project that increases the revenue to 10.5 million and expenses to 9.5 million

c. A project that decreases revenue to 9.5 million and expenses to 8.5 million

d. A project that decreases revenue to 9 million and expenses to 8 million

Question 25: Costs can be classified into multiple categories. For which one of the following cost categories will a project manager find it difficult to get a precise value?

a. Tangible costs

b. Intangible costs

c. Indirect costs

d. Sunk costs

Question 26: Your project budget has allocated $10,000 for an equipment. However, at the time of purchase you find out that the equipment is $10,500. You are confident that you can proceed with the purchase because the variance is less than the project's _________________ of 8%.

a. Cost variance

b. Contingency reserve

c. Cash flow forecast

d. Control threshold

Question 27: Your organizational guidelines specify that the required rate of return for internal infrastructure upgrades is 25%. You have evaluated the costs of a potential infrastructure upgrade project to be 120,000. Which of the following estimated benefits will provide a Return on Investment (ROI) that exactly meets the minimum required by the organizational guideline?

a. 125,000

b. 175,000

c. 96,000

d. 150,000

Question 28: Excellent project managers excel at using a systems approach. Systems management deals with the business, technological, and organizational concerns related to creating, caring, and changing a system. From a systems management perspective, which one of the following is a business concern?

a. Specifications

b. Suppliers

c. Costs

d. Training

Question 29: At its current stage, the Earned Value (EV) of a project is $50,000 and the Actual Cost (AC) is $55,000. The project has been budgeted $100,000. What is the estimated cost of completing the project based on the performance until now?

a. $90,000

b. $95,000

c. $105,000

d. $110,000

Question 30: You have the responsibility of managing a new project that your organization does not have any experience on. In order to create the work breakdown structure (WBS) you decided that you want to unleash your team's creative thoughts. Which of the following approach is suitable for this?

a. Analogy approach

b. Top-down approach

c. Bottom-up approach

d. Mind mapping approach

Question 31: Across the planet, many organizations rely on Earned Value Management (EVM) to make good decisions on projects. Which one of the following does EVM rely upon?

a. Latest project management software

b. Good estimates of project costs

c. Calculation skills of project team members

d. Availability of time to obtain accurate project costs

Question 32: Within an organization, a Project Management Office (PMO) is responsible for coordinating all the project management functions. Which one of the following is a likely responsibility of the PMO?

a. Hire people to staff projects

b. Provide project methodologies, templates, tools and standards

c. Select the projects that fit the strategic direction of the organization

d. Manage a group of related projects

Question 33: Earned Value Management (EVM) is a widely used, powerful cost control tool. However, not every organization uses EVM. Which of the following is a reason for organizations to not adopt EVM?

a. Lack of good project plans

b. Complexity of EVM

c. Insufficient knowledge of EVM

d. Availability of simpler tools

Question 34: During the planning processes of project time management an activity list is created in conjunction with activity attributes. Which one of the following will not be found in the activity attributes?

a. Predecessor

b. Person responsible

c. Constraints

d. Imposed dates

Question 35: A kick-off meeting is the most suitable tool to get new projects started well. Which one of the following is not a purpose of the kick-off meeting?

a. Understand the project goals

b. Understand the plans for the future of the project

c. Understand the stakeholders of the project

d. Understand the business case of the project.