20Q 04 Flashcards
PREP PMP
Q- Which scheduling technique is used to improve project schedule accuracy by adjusting the schedule based on past performance data?
A- Schedule Network Analysis is used to improve project schedule accuracy by adjusting the schedule based on past performance data. This approach considers real-world circumstances, such as holidays, vacations and unforeseen events, that may impact the project.
Q- Your organization is procuring a website design service from a vendor. Which contract type should be considered?
A- A Fixed Price contract is appropriate as the scope of work, deliverables, and timeline for the website design can be defined and priced accordingly. The other options are based on cost reimbursements, which are not ideal for projects with a well-defined scope like website design.
Q- What is Scope Verification in project management?
a.Managing changes to project scope
b.Ensuring that all project deliverables are completed satisfactorily
c.Checking that all project scope is meet
d.Tracking key project tasks and milestones
A-Scope Verification is the process of reviewing deliverables to ensure that they are completed satisfactorily and meet the specified acceptance criteria.
Q- Which scheduling technique is used to estimate the minimum amount of time needed to complete a project?
A- The technique used to estimate the minimum amount of time needed to complete a project from the provided options is Fast Tracking.
Q- You are a project manager at a software development company. You have successfully gathered your team members to estimate the amount of resources required for an upcoming project. Which technique should you apply to estimate resources?
a.Parametric Estimating
b.Analogous Estimating
c.Bottom-up Estimating
d.Expert Judgement
A- Expert Judgement involves consulting experienced subject matter experts to provide resource estimates. The other options are more focused on estimating time or cost rather than resources.
Q- In a Fixed-Price contract, the vendor finds a way to deliver early without impacting the quality, should the Project Manager inform the client?
a.The PM can deliver early but isn’t required to inform the client in advance.
b.The PM should delay the delivery to match the initial schedule.
c.The PM should inform the client and ask for increased payment.
d.The PM should re-negotiate the contract with the new schedule.
A- In a fixed-price contract, as long as the vendor adheres to the agreed quality and price, they can choose to deliver early. This doesn’t require approval from the client, nor will it change the contract price.
You are managing a large-scale construction project and have received numerous requests for equipment and personnel. What tool or technique should you use to ensure optimal allocation of resources?
a.Resource leveling
b.Precedence diagramming method
c.Monte Carlo simulation
d.Critical path method
Resource levelingis the correct answer because it is a technique used to adjust project activities and schedules to
optimize the allocation of resources,
minimize resource over-allocation,
and avoid resource conflicts
