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To be eligible to take the PMP certification exam, candidates must have a minimum of three years of project management experience, with at least 35 hours of project management education. Alternatively, candidates can have a bachelor’s degree and two years of project management experience, with at least 35 hours of project management education.
NEW QUESTION # 605
You are managing a construction project using a fixed price (FP) contract. The contract is structured so that your company will be paid a fee of $85,000 to complete the work. There was a $15,000 overhead cost that your company had to cover. It's now three months into the project, and your costs have just exceeded $70,000. The project has now consumed the entire fee, and your company will now be forced to pay for all costs on the project from this point forward. What's the BEST way to describe this situation?
- A. The project has reached the point of total assumption
- B. The project is overdrawn
- C. The project manager has overspent the budget
- D. The project has ceased to be a pro t center for the company
Answer: A
Explanation:
The point of total assumption is the point at which the seller assumes the costs. In a fixed price contract, this is the point where the costs have gotten so large that the seller basically runs out of money from the contract and has to start paying the costs.
NEW QUESTION # 606
A senior manager asks a team member for a quick update on the project's progress. The team member redirects the senior manager to the project manager to ensure that the information being relayed is accurate and appropriate for this manager to receive.
What document dictated this team member's action?
- A. Previous week's meeting minutes
- B. Communications management plan
- C. Responsible, accountable, consult, and inform (RACI) matrix
- D. Stakeholder register
Answer: C
Explanation:
Section: Monitoring and Controlling
NEW QUESTION # 607
The Cost Performance Index (CPI) measures:
- A. work performedvs cost of work performed.
- B. direct costsvs indirect costs.
- C. floating costs vs. sunk costs.
- D. work performedvs planned work.
- E. cost of work performedvs planned costs.
Answer: A
NEW QUESTION # 608
Which statement is true about the project management body of knowledge?
- A. Recognized by every project manager
- B. Constantly evolving
- C. A sum of knowledge that should be applied on every project
- D. The sum of all knowledge related to project management
Answer: B
NEW QUESTION # 609
A team has been working for two months and has consistently missed planned user stories. How should the project manager address this issue?
- A. Promote changing the iteration duration in order to commit as planned.
- B. Ensure the sprint size is appropriate for the iteration duration.
- C. Consider using a reward system to encourage timely delivery.
- D. Engage in recruiting a highly skilled resource to reinforce the skills.
Answer: B
Explanation:
Explanation
= The project manager should ensure the sprint size is appropriate for the iteration duration. This means that the team should be able to complete the user stories within the timebox of the sprint, without compromising the quality or scope of the deliverables. If the team is consistently missing planned user stories, it may indicate that the sprint size is too large or the iteration duration is too short. The project manager should work with the team and the product owner toadjust the sprint size and the product backlog accordingly, based on the team's velocity and capacity12. References: = PMBOK Guide 7th Edition, Chapter 5: Delivery Performance, Section
5.2.3: Plan and Manage Iterations; PMBOK Guide 6th Edition, Chapter 6: Project Schedule Management, Section 6.2.2.5: Agile Release Planning.
NEW QUESTION # 610
A new project manager is taking over a project being done for a company in another country. The project manager learns that the project has a fixed price and that the project is being paid for in the local currency, which has been fluctuating. The project sponsor thinks this is too risky and wants the project manager to address it at the next risk review board.
What should the project manager recommend at the risk review board?
- A. Accept the risk.
- B. Mitigate the risk.
- C. Transfer the risk.
- D. Avoid the risk.
Answer: B
Explanation:
Section: Executing
NEW QUESTION # 611
The purpose of the Project Communications Management Knowledge Area is to:
- A. Ensure timely and appropriate collection of project information.
- B. Develop an appropriate approach for project communications.
- C. Monitor and control communications throughout the entire project life cycle.
- D. Maintain an optimal flow of information among all project participants.
Answer: A
NEW QUESTION # 612
A structured tool, usually industry or activity specific, used to verify that a set of required
steps has been performed is called:
- A. Pareto diagram
- B. Quality Policy
- C. Check list
- D. Trend analysis
Answer: C
NEW QUESTION # 613
A project team has developed the initial schedule using a network diagramming method and has arrived at the overall project duration. Upon examining the schedule, the project manager finds that there are several activities that may require buffers to mitigate or eliminate potential scheduling conflicts.
Match the following common terms with their explanations that evaluate the buffers or constraints.
Answer:
Explanation:
NEW QUESTION # 614
A key tool and technique used in define scope is______________
- A. Project management methodology
- B. Templates, forms, and standards
- C. Expert judgment
- D. Decomposition
Answer: C
Explanation:
Section: Mix Questions
Explanation:
Expert judgment is used to analyze the information needed to develop a project scope statement. It is applied to any technical details.
NEW QUESTION # 615
A project manager is working on a project with multiple workstreams. One of the workstreams missed its deadline multiple times.
Who should the project manager speak to about this situation to ensure it does not happen again?
- A. Workstream leader and project sponsor
- B. Workstream leader alone
- C. Workstream leader and functional manager
- D. Workstream leader and project management office (PMO)
Answer: B
NEW QUESTION # 616
Statements of organizational policies and philosophies, position descriptions, and constraints are examples of______________
- A. External communication
- B. Horizontal communication
- C. Formal communication
- D. Lateral communication
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Formal communication provides direction and control for project team members and other employees.
They also contain reports, minutes, and briefings and are examples of organizational process assets used in manage communications and in control communications.
NEW QUESTION # 617
The process of obtaining seller responses, selecting a seller, and awarding a contract is called:
- A. Conduct Procurements.
- B. Close Procurements.
- C. Control Procurements.
- D. Plan Procurements.
Answer: A
Explanation:
Section: Executing
NEW QUESTION # 618
The most expensive phase of life cycle costing is:
- A. Production
- B. R &
- C. Applied research.
- D. Termination.
- E. Operations and support.
Answer: E
NEW QUESTION # 619
A specialized team member has just received news that they must leave the office for several weeks They have approximately two workdays until they will leave and then they will become unavailable through any communication channels. There is a key deadline approaching What should the agile project manager do?
- A. Ask the team member to host a special team meeting.
- B. Ask the team member to complete as much as they can now.
- C. Ask the team member to work with their peers to knowledge share
- D. Ask the team member to identify their specialist tasks
Answer: C
NEW QUESTION # 620
Activity resource requirements and the resource breakdown structure (RBS) are outputs of which Project Time Management process?
- A. Develop Schedule
- B. Estimate Activity Resources
- C. Define Activities
- D. Control Schedule
Answer: B
NEW QUESTION # 621
A project manager has been assigned a project to build a new solar farm that will provide clean energy to a new housing complex. The government has decided to reduce the tax on renewable energy products starting 1 January. The supplier has reached out and stated that the order placed for solar panels to be delivered on 20 December might be delayed until early January. On the other hand, the project will face similar constraints due to the December holidays.
What should the project manager do about this risk?
- A. Update the risk register and take advantage of the opportunity.
- B. Review the supplier's contract to understand the terms of sale.
- C. Accept the risk and update the risk register.
- D. Insist that the supplier deliver the goods on the agreed date.
Answer: B
NEW QUESTION # 622
At project inception, market demands result in a shift in the client's organizational strategy. Upon learning this, the project manager immediately requests a meeting with the project team and project sponsor.
In preparation for this meeting, what should the project manager analyze and evaluate?
- A. project management plan.
- B. Approved scope
- C. Business case
- D. Enterprise environment factors
Answer: C
NEW QUESTION # 623
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