Which of the following statements best describes Time & Material (T&M) contracts? A. T&M contracts are hybrid type of contractual agreements that could contain aspects of both cost-reimbursable and fixed-price type arrangementsB. T&M contracts are the best form of contracts when the scope of work and the number of hours of work for a specific
PMP Exam Set E – Q81
During the procurement process, a contractual relationship gets established between a buyer and a seller. During the contract lifecycle, what is the correct sequence in which the following terminology is applied to a seller? Vendor, Selected source, and Bidder. A. The seller is viewed first as a selected source, then as a bidder and then
PMP Exam Set E – Q80
Organizations strongly influence the project framework. The PMBOK Guide recognizes which of the following types of organizations? A. Projectized, FunctionalB. Strong Matrix, OrganicC. Weak Matrix, Pre-existingD. Functional, Transactional Show Answer A. Projectized, Functional
PMP Exam Set E – Q79
A project manager in a seller organization discovered that certain deliverables had been handed over to the buyer without undergoing proper testing. Recalling the deliverables will result in a cost overrun to the project. What should the project manager do in such a case? A. Recall the deliverables even though there will be a cost
PMP Exam Set E – Q78
Skills such as empathy, influence, creativity, and group facilitation are valuable assets when managing the project team. These skills are often referred to as ____________ . A. Effort based managementB. Feedback based skillsC. Ad hoc skillsD. Soft skills Show Answer D. Soft skills
PMP Exam Set E – Q77
During a project update meeting, one of the key stakeholders expressed his displeasure over the recently produced deliverables. 1% of the produced deliverables had minor defects. This stakeholder has been a resisting stakeholder so far. What must the project manager do in order to bring the future project performance in line with the approved quality
PMP Exam Set E – Q76
A storm has damaged the manufacturing facility that is being constructed as part of your project. You have just discovered that, although the project risk management plan mandated that the facility be insured against damage and loss, this policy was never acquired and the losses now have to be covered by the project budget. Who
PMP Exam Set E – Q75
You are in charge of constructing the Ferris wheel in each town a carnival visits. However, this is something you have never done before and you are getting different opinions from others on how long it takes. Joe, is new and has given you what you believe to be an optimistic estimate of 3 hours,
PMP Exam Set E – Q74
You are in the midst of a major code roll out for a new software module. However, it has come to your attention that the resources promised for the roll out are not going to be available. As the Project Manager, what is the BEST thing to do? A. Explain the impact of the lost
PMP Exam Set E – Q73
During the Plan Procurement Management phase, the make-or-_____________ analysis must be completed. This technique prompts the project team to determine the source of their item. A. leaseB. buyC. findD. ignore Show Answer B. buy