PMP Part 3 Flashcards
A project has completed 60% of all the work. The team has spent 55% of the project budget. The budget is currently set at $180,000. The sponsor has requested to know the project’s CPI. The project manager should inform the sponsor that the CPI is the following:
1.1
CPI is equal to EV/AC. To find the CPI, you must first find EV and AC. EV is equal to the percentage of actual work completed x BAC (budget at completion), which is 60% x $180,000 = $108,000. AC (actual cost) is just the amount of money already spent on the project, which is 55% x $180,000 = $99,000. So, CPI is $108,000/$90,000 = 1.1.
While monitoring and controlling the project, the project manager and the team have consistently received broken equipment from a particular vendor. They have spoken with the vendor and implemented a new process that will ensure the equipment does not show up broken. This seems to have solved the problem. What is the next step the project manager should take?
Check the solution
When encountering any problem on a project, the project manager should first identify the problem, define the problem, investigate, analyze, solve, and then check the solution. In this situation, the problem has already been solved, so the next step would be to check the solution to ensure the problem has actually been solved.
A large development company has just initiated a project to build a 60-story building. The project will take approximately 3 years to complete with a cost of $550 million. The development company has started to facilitate funding for the project by asking private equity firms and banks. What tools does this best represent?
Financing
Financing is a tool used in the process of determine budget. This is when a company looks at external sources to fund the project. Funding limit reconciliation is done when there are limited funds to spend on the project and work may need to be rescheduled. Parametric estimates are a type of mathematical estimates done to estimate the cost of each activity. Analogous estimates are based on historical information to estimate the cost of each activity.
While working with the system administrator, the project manager identifies many different types of resources required for the project to be completed successfully. The project manager classifies them as HR, material, equipment, and consumable resources. Where can the project manager best document these resources?
Resource breakdown structure
The resource breakdown structure is a breakdown of the resources by categories or types. The resource register and resource category matrix are made-up terms. The resource requirements describe all the resources needed to complete an activity.
The project team has completed a major deliverable on the game development project. The deliverable was given to the project manager. What action should the project manager take next?
Check the deliverable for quality requirements
Once a deliverable is complete in the process of direct and managed project work, the next process would be to control quality; the deliverable would be checked for quality requirements so it can be accepted by a customer or sponsor. The project should not be closed until the deliverable has been accepted. There is no need to have the project team review the deliverable since they have deemed it completed and handed it to the project manager.
The project manager and team have decided to hire a contractor to complete building out the remaining section of the datacenter. They have the requirements listed in detail and would like to use a contract that would present the smallest amount of risk to the project. The project team members would like to purchase the materials themselves since there are very familiar with the work. What contract is best for this project?
cost-plus-fixed-fee
A cost-plus-fixed-fee contract is where the buyer pays all the work expenses and then pays a fixed price for the work. A time and materials contract is where the buyer pays all the work expenses and then pays the sellers for the time they spent doing the work, and this contract has the highest risk to the buyers. All other choices are made-up terms.
Two team members were having a conflict over what programming method should be used on the new application. They have resolved the conflict. What would be their next step?
Implement the new method and verify that it solves the actual problem
When a problem has been solved, the next step would be to confirm that the solution has actually solved the problem after it has been implemented.
While developing complex software for an organization, the project team creates a computer-generated model of what it will look like when it is done. This model is given to the customers for their feedback. What best describes this model?
Prototype
A prototype is generally a mock-up or functional product that is given to the customers for feedback. Data representation and data analysis are tools used to analyze data and present them in various forms, such as graphs or charts. Screenshots are pictures taken from a screen of an application, not a model of how the application will work.
While building the agile space for new agile team which of the following tools should the project manager insurer is available to all of them?
Whiteboard
The use of high touch low-tech tools such as a whiteboard is vital in an agile environment to ensure collaboration and engagement of all team members.
While working on an agile project, the sponsor would like to know how much work remains to be completed in the project. The project manager has scheduled a meeting with the sponsor for the next day. What tool would be best for the project manager to take to the meeting?
Burndown chart
A burndown chart is used on agile projects to show work that remains to be completed. A project calendar is an input, not a tool. A Pareto chart is used in quality management to show what things might be causing the most defects in a project. It displays the 80/20 rule. Earned value charts is a made-up term.
While managing the stakeholders’ engagement, the project manager notices that some of the team members are not respectful to other team members. This has led to a few conflicts between the members. What can the project manager best do about this?
Implement ground rules
Ground rules are usually set within the team charter and are the general rules that the team will follow in order to effectively work with each other. These generally include behavioral rules. Before releasing the team, the project manager should try to resolve the problem. Conflicts within a project team should not be a reason to stop a project. If you were to inform the sponsor, they would generally tell you to solve this problem.
You are currently managing a business process reengineering project and have identified all the risks that can affect the project. You would like to put the risks in order from most impact to least impact on the project. What is the best process for doing so?
Perform qualitative risk analysis
Perform qualitative risk analysis is a process used to rank risks according to probability and/or impact. Perform quantitative analysis is done in order to assign values to the risk. Plan risk response describes the strategies that would be used if a risk were to materialize. Rank risks is not a valid process.
While developing very complex software, the project manager met with some of the industry’s top subject matter experts to understand their perspectives about solving some of the problems in the software. What tool best describes these meetings?
Focus groups
A focus group brings together subject matter experts to understand their perspectives and how they would go about solving problems. A brainstorming session is done by a group of stakeholders to gather ideas. A checklist can be created by an organization and then given to potential stakeholders, usually to identify factors they may want on a project. Questionnaires and surveys function almost the same as a checklist, which is used to gather stakeholders’ requirements.
A team member is working on upgrading the network server while another team member is painting the server room. The outcomes of these two events will not affect each other. What best describes the relationship between these two events?
They are statisically independent
Statistical independence is a term used in probability that means one event cannot affect the other event. Mutually exclusive is a term used when two events cannot happen at the same time; in this question, these two events are happening at the same time.
One of the customers would like to add a new component to the project that would likely increase the functionality of the software. What steps should the customer take when adding this new component on an Agile project?
Add it to the product backlog
When a customer would like to add a change to an agile project, they simply added to the product backlog. That new feature will then be prioritized based on his value in the product backlog.
Which of the following is not a principle of agile planning?
Conduct most of the planning at the beginning
On the traditional project most of the planning is done on the beginning, while agile projects are planned throughout the project with the help of all stakeholders.
When managing risks on a project, the project manager should be aware of the individual project risks and which other project risks?
Overall project risks
Risk generally falls into two levels on a project: individual project risks and overall project risks. All other terms are not different types of risks.
If the work of the project will contain and the velocity of the team is currently at 14 points. What is the total size of the project in terms of story points?
140
Total size of the project will be 10 iterations x 14 points = 140 Points.
While developing a new smartphone, the project team has identified a specific set of performance measurements that the phone should meet when it is complete. The measurement looks at how fast the phone can boot up and how fast it can shut down. Where should the project team document these measurements?
Quality metrics
Quality metrics are used to measure the project deliverables. The quality checklist will inform the project team what to look for when inspecting the project deliverables. The quality management plan will outline how to conduct the quality processes such as manage quality and control quality. The requirements traceability matrix will track the requirements back to their origin.
The project manager is having a difficult time keeping the project on plan. There are many changes regarding the project scope, which has led to an increase in the project budget. Management would like a reason why there have been so many scope changes on this project. What would most likely cause many scope changes on a project?
did not gather the detailed requirements
Generally, if a project manager finds themselves with many scope changes when the project is executed, it’s most likely that they did not gather the requirements adequately from the customers. The other choices cannot be selected because the question does not give enough information regarding them.
Mark is currently working on the workstation upgrade project. He has noticed there are three activities on the critical path, which are activity A, C, and D. Activity B has a slack of 2 and a duration of 4 days. Activity C has a duration of 3 days, and activity D has a duration of 6 days. What is the slack on activity A?
0 days
Activities on a critical path have zero slack. The question is trying to mislead you into drawing a network diagram that is not needed to determine the slack.
While working on a project, the project manager notices that most of the time is spent resolving conflicts between members of the project team. What is the best tool the project manager can use to resolve the problems amongst the team members?
Interpersonal and team skills
Resolving team conflicts is done through the manage team process. This particular process includes interpersonal and team skills tools of which conflict management is a subset. Expert judgement, training, and collocation are not tools used in the manage team process.
While monitoring the status of an agile project what numerical analysis can the project team use to help determine if the project is on schedule?
Earned value management
Earned value management are series of formulas that monitor the value of the project as it’s progressing and generally track cost and schedule.
While managing the project team the agile project manager is having a very difficult time understanding why team members are always frustrated when communicating with him. What critical soft skills does this project manager lack?
Emotional intelligence
Emotional intelligence is defined as the skill to identify, assess, and influence emotions of ourselves and others around us.