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Question 1

What is the formula for determining project value?

Answer 1

PV = FV/(1+R)n

Question 2

Where is the traceability structure created?

Answer 2

In the Requirements Management Plan

Question 3

What rule states that the total of the work at the lowest levels must roll up to the higher levels so that nothing is left out and no extra work is completed?

Answer 3

The 100% rule

Question 4

What is expertise provided by any group or individual, guided by historical information, which is applied to any technical and management details, creating the output?

Answer 4

Expert judgement

Question 5

What is the lowest level of detail in a project?

Answer 5

An activity

Question 6

Into what level of detail are work packages sub-divided?

Answer 6

Activities

Question 7

What provides the basis for estimating, scheduling, executing, monitoring and controlling the project work?

Answer 7

Activities

Question 8

How long is a work period?

Answer 8

No less than 8 hours, no more than 80 hours

Question 9

What is a documented schedule-related factor that is true, real and certain?

Answer 9

An assumption

Question 10

What is expertise provided by any group or individual that is guided by historical data?

Answer 10

Expert judgement

Question 11

What is the Delphi technique?

Answer 11

A blind study

Question 12

What technique has the project team create different scenarios of the project schedule to determine which one is most useful?

Answer 12

What-If Scenario

Question 13

What is the “data date”?

Answer 13

It is the time right now

Question 14

What is anything that is a limiting factor?

Answer 14

A constraint

Question 15

What is AON?

Answer 15

Activity on Node: It is a project management term that refers to a precedence diagramming method which uses boxes to denote schedule activities.

Question 16

What order should you read a PMP test question?

Answer 16

Question first, then D to A

Question 17

When does something become an issue?

Answer 17

Once a risk has been realized, it becomes an issue.

Question 18

When are risks?

Answer 18

Risks are always in the future.

Question 19

What is a given or potential requirement, assumption, constraint, or condition that creates the possibility of negative or positive outcomes?

Answer 19

A cause

Question 20

How long is a work period?

Answer 20

No less than 8 hours, no greater than 80 hours.

Question 21

What should the project manager conduct at the end of every phase?

Answer 21

Lessons learned

Question 22

What are four common information gathering techniques?

Answer 22

1. Brainstorming
2. Delphi technique
3. Interviewing
4. Root cause analysis

Question 23

What are some common diagramming techniques useful for determining risks?

Answer 23

Cause + effect diagrams: Fishbone or Ishikawa diagramsSystem or flow chartsInfluence diagrams - relationships among variables and effects

Question 24

What kind of projects trend toward more uncertainty?

Answer 24

Those using state-of-the-art, first to market, or highly complex scope

Question 25

What is EMV and how is it used?

Answer 25

Expected Monetary ValueProbability (%) * Impact ($)It is used for choosing one alternative over another.

Question 26

What are views gathered by pessimistic (high), Optimistic (low), and most likely scenarios using the Monte Carlo simulation?

Answer 26

Modeling and simulation

Question 27

What are some common strategies for negative risks or threats?

Answer 27

1. Avoid [eliminate by not performing risky activity]
2. Transfer [outsource or insure]
3. Mitigate [reduction - reduce risk probability and/or impact]
4. Accept [accept and budget - accept loss when it occurs]

Question 28

Who first defined continuous improvement?

Answer 28

Shewhart - modified by Deming.

Question 29

If no quality policy exists, what should the PM do?

Answer 29

Create one themselves

Question 30

When does a control chart reflect a process considered “out of control”?

Answer 30

When a data point exceeds a control limit or is seven consecutive points above or below the mean.

Question 31

What is the standard deviation in a control chart?

Answer 31

One sigma = 68.27

Question 32

What is the numeric value of six sigma?

Answer 32

Six sigma = 99.99966

Question 33

How many variables are demonstrated in a scatter diagram?

Answer 33

Two

Question 34

What is the “Hot/ Crazy Scale”?

Answer 34

It is a scatter diagram demonstrating that a woman is allowed to be crazy, as long as she is equally hot. It demonstrates the relationship between two variables- hotness- craziness

Question 35

What is a technique that takes a proactive stance to process development, making improvements to a process over time?

Answer 35

Kaizen

Question 36

What is the value of two sigma?

Answer 36

95.45

Question 37

What is described in the staffing management plan?

Answer 37

When and how human resource requirements will be met

Question 38

What is a mutually binding agreement that requires the seller to provide specific products, services or results and requires the buyer to provide monetary consideration?

Answer 38

A contract

Question 39

What is included in a procurement contract?

Answer 39

Terms and conditions and may incorporate other items that the buyer specifies.

12.0 Project Procurement Management

Question 40

What is a unique and verifiable product, service, or result that has been produced to meet the objectives of the project or phase?

Answer 40

Deliverables

4.3.3.1 Deliverables

Question 41

List Abraham Maslow’s Hierarchy of needs.

Answer 41

1. Physical Needs
2. Safety and Security Needs
3. Social needs
4. Self-esteem needs
5. Self-actualization

Question 42

What level of Maslow’s Hierarchy drives the majority of project managers?

Answer 42

Self-esteem needs

Question 43

What theory predicts that behavior results from conscious choices among alternatives whose propose it is to maximize pleasure and minimize pain?

Answer 43

Expectancy theory

Question 44

What is the learned needs theory?

Answer 44

People have three motivating drivers, but one is most dominant and the motivating driver.

Question 45

What is McGregory’s Theory?

Answer 45

People are either Theory X (lazy, hate work, need supervision) or Theory Y (believe people are interested in performing their work given the right motivation)

Question 46

What are the three motivators in learned needs theory?

Answer 46

Achievement motivation (n-ach)Authority/ Power motivation (n-pow)Affiliation motivation (n-affil)

Question 47

What are the results of make or buy analysis, determining whether it is more cost effective for the organization to purchase goods and services or to produce itself?

Answer 47

Make or Buy Decisions

Question 48

Where do most of the related activities (processes) take place?

Answer 48

Process group

Question 49

What is the level of an organization’s ability to deliver the desired strategic outcomes in a predictable, controllable and reliable manner?

Answer 49

Organizational Project Management Maturity ModelOPM3

Question 50

What is the best way to resolve conflict? This involves confrontation, a fact-finding mission and incorporates points from each perspective seeking a win-win permanent solution.

Answer 50

Collaborating/ Problem Solving

Question 51

What uses negative approaches including threatening and punishment to get people to do things they do not want to do with the promise of real consequences?

Answer 51

Punishment

Question 52

What kind of conflict resolution strategy is accommodation?

Answer 52

Lose-lose

Question 53

What is a systematic series of activities directed toward causing an end result such that one or more inputs will be acted upon to create one or more outputs?

Answer 53

A process