The project sponsor asks you to increase budget estimates by 25% to ensure that enough funds are budgeted for the project. What should you do?
A. Add 25% to your contingency reserves.
B. Fast track the project.
C. Add 25% to all costs across the board.
D. Ask for additional information
Which of the following structures is helpful in tracking project costs and can be aligned with the organization’s accounting system?
A. Project breakdown structure (PBS)
B. Matrix breakdown structure (MBS)
C. Work Breakdown Structure (WBS)
D. Organizational breakdown structure (OBS)
Which of the following indicates the required cost performance in order to completed the project on budget?
A. TCPI
B. CPI
C. EAC
D. SPI
Stakeholder identification is a continuous process. Which of the following statements about stakeholders is incorrect?
A. Positive stakeholders benefit from the outcome of a project
B. A project manager needs to focus on the positive stakeholders since their needs are best served by the project
C. Overlooking negative stakeholders can result in an increased likelihood of failure
D. Stakeholders can have conflicting or differing objectives
Jen is the project manager at a pharmaceutical company. She begins her day by analyzing her team’s work requirements. She then assigns daily tasks to her team members over a centralized project management information system that then generates automatic task assignment notifications for the team members. Which of the following types of communication methods has been selected by Jen?
A. Formal, push communication
B. Informal, pull communication
C. Formal, pull communication
D. Informal, push communication
Jane, the project manager of a large project, found that she did not have the necessary number of resources required for some activities in the project. To account for the limited resources, she decided to apply the critical chain method. Which of the following would she use to protect the critical chain from slippage along the feeding chains?
A. Feeding buffers
B. Standby buffers
C. Overflow buffers
D. Dependent buffers
Your Vice President has asked you what the Estimate at Completion is going to be for a small project you are working on. You were given a budget of $30,000, and to date you have spent $20,000 but only completed $10,000 worth of work. You are sure that the future work will be accomplished at the planned rate.
A. $40,000
B. $30,000
C. $60,000
D. $10,000
Which of the following is the correct logical sequence of the five process groups?
A. Planning, Monitoring and Controlling, Initiating, Executing, Closing
B. Planning, Initiating, Executing, Monitoring and Controlling, Closing
C. Initiating, Monitoring and Controlling, Planning, Executing, Closing
D. Initiating, Planning, Executing, Monitoring and Controlling, Closing
Which of the following is not a tool or technique of the Manage Stakeholder Engagement process?
A. Technical skills
B. Management sills
C. Communication methods
D. Interpersonal skills
You are a Project Manager and are nearing the end of your project. You are now required to provide lessons learned documentation on the project. What is the MAIN purpose for preparing lessons learned documentation?
A. To identify the valued employees who improved efficiencies
B. To identify the problem employees who reduced efficiencies
C. To identify instances in which you positively affected the project
D. To identify improvements for managing similar future projects