The Actual Cost (AC) is the total cost actually incurred and recorded in accomplishing work performed for an activity or work breakdown structure component. What is the upper limit for the AC?
A. 50% over and above the Planned Value (PV)
B. The Actual Cost (AC) is limited to the Planned Value (PV).
C. 100% over and above the Planned Value (PV)
D. There is no upper limit for the Actual Cost (AC).
You have just taken over a project from another project manager about 6 months into a 12-month project. As you get to know the staff on the project, you become aware that 5 staff members are relatives of the previous project manager. What do you do?
A. Notify your project stakeholders there is a possibility that nepotism was behind some of the staffing decisions made on your project.
B. Check recruitment records of all employees
C. Report the HR manager to PMI.
D. Interview these 5 employees
You have been assigned as a project manager of a new project to be executed out of New York. However, you determine that the project requires a Global Positioning Systems Expert who is not available within the company in New York. On doing a little checking, you determine that the company has an expert based in London, who is suitable for the project. However, the London based employee is not willing to relocate to New York for the project. In such a case:
A. Write to the manager of the London based employee and inform him that the employee needs to be convinced to relocate to New York due to project requirements.
B. You would look at the option of moving ahead with the project by using a virtual team.
C. Manage the project without the key resource and flag this as a risk.
D. Co-location of resources is a key factor for the success of projects. As per PMI guidelines, you will not be able to proceed with the project since the resources is not available in New York.
Sensitivity analysis helps to determine which risks have the most potential impact on the project. A project manager prepared a display chart of sensitivity analysis for his project. The diagram contained a series of bars with the length of the bars corresponding to the risk impact on the project. The longer the bars, the greater was the risk presented. Such a diagram is likely to be:
A. An assessment diagram
B. A triangular distribution
C. A tornado diagram
D. A funnel distribution
Peter is managing a website development project. He has recently received a feedback from one of the key project stakeholders. The feedback is overall positive but it contains some recommendations. After analyzing the recommendations, Peter accepts them, gets them approved and incorporates them into the project management plan. What needs to be done with this feedback now?
A. Discard it as it is no longer required
B. Publish it on the corporate intranet
C. Add it to the organizational process assets
D. Send it back to the stakeholder
No matter how good you are in communicating, information distribution to stakeholders as planned is a challenging task. Many tools and techniques are used during the Manage Communications process EXCEPT:
A. Performance reporting
B. Work performance reports
C. Communication technologies
D. Communication models
A project manager is using a Risk Diagramming technique that is a graphical representation of situations showing causal influences, time ordering of events and other relationships among variables and outcomes. This would be:
A. A System flow chart
B. An Influence Diagram
C. Pareto chart
D. Risk flow diagram
While managing a project, you decide to contract to an external enterprise. You enter into a contract where you pay the external enterprise a set amount (as defined by the contract), irrespective of the seller’s costs. What would best describe this type of contract?
A. FP-EPA
B. FFP
C. FPIF
D. CPFF
Which of the following processes deals with maintaining the integrity of baselines by releasing only approved changes for incorporation into the project management plan?
A. Perform Integrated Change Control
B. Direct and Manage Project Work
C. Develop Project Management Plan
D. Monitor and Control Project Work
________________ includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully.
A. Statement of Work
B. Project Schedule Management
C. Project Scope Management
D. Work breakdown structure