PMP Question 100

During a routine analysis of the project's reserves, the project manager realizes that some project costs have been saved due to the project taking advantage of an unexpected opportunity to outsource several activities.

What should the project manager do with these saved costs?

• A Record them as actual costs (AC)

• B Add them to the contingency reserves

• C Reduce them from the budget at completion

• D Credit them to the procurement department

You are leading a software development project for an important client. For this project, you have elected to use a change-driven life cycle. Currently, you are about to lead an iteration planning meeting with the product owner and the development team.

What should you first accomplish at the start of the iteration?

• A With the project scope determined during initial project planning, the scope must be controlled to prevent scope creep

• B Disregard the fixed requirements and focus on those elements that are still evolving to determine the scope of the iteration

• C Define and approve the detailed scope of the iteration

• D Review and record lessons learned to correct processes and improve the performance of the upcoming iteration

You have replaced a project manager midway through project execution. You discover that although financial project reports that include CPI and SPI are prepared weekly, the financial database repository has never been updated.

Which tailoring consideration did your predecessor most likely miss earlier in the project?

• A Project complexity

• B Knowledge management

• C Cost management plan

• D Earned value management

During project execution, scheduling challenges have been experienced due to inclement weather that has resulted in multiple schedule variances. The project manager has noticed that a particular vendor is very flexible in scheduling their work. The project manager has found that the flexibility to adjust leads and lags is a particularly effective method for controlling the project schedule.

What should be done with this information?

• A Updated in the lessons learned repository

• B Noted in the schedule variance management plan

• C Documented in the lessons learned register

• D Included in the schedule baseline

During product testing, a project team has discovered that some components did not meet government regulations established for the industry. Following the approved change request to repair the defects, the components have been fixed, and the team is ready to test the product again.

What documents should the team refer to while re-testing the product?

• A Verified deliverables

• B Resource requirements

• C Approved change requests

• D Quality improvement methods

A project manager is having difficulty getting project team members to meet their weekly performance targets. The project manager has provided team training and team-building activities, but so far these and other efforts have been unsuccessful. The project manager would like to use a reward system to incentivize team members to meet their performance goals.

Which of the following strategies would be best?

• A Give all team members a raise to help motivate them

• B Give rewards to team members who meet their performance goals at the end of the project

• C Hold a contest where team members can compete for prizes

• D Consult the resource management plan

You are leading a project to design a car with new self-driving technology. During project planning, existing government regulations regarding the new technology were virtually non-existent. You identified this ambiguity risk during project planning and developed a risk response. Now, with the car ready for production, new regulations have been enacted. The new regulations are so complicated that you have trouble understanding them and their implications for the project.

What should you do next?

• A Seek the opinion of a recognized expert to validate or modify the risk response

• B Terminate the project since the new technology does not meet the new regulations

• C Submit a change request to alter the scope baseline to accommodate the new regulations

• D Proceed with the project and implemented the risk response as originally planned

A project manager is holding a meeting with relevant stakeholders to perform a benefits analysis for a project that has been selected by the company. The project is codenamed Project Tiger and has a net present value of $3,000,000. One of the meeting participants asks about Project Panther, which was estimated to have a net present value of $2,500,000. The project manager explains that Project Panther was rejected because the company did not have the resources to support both projects.

What else might the project manager state in this scenario?

• A The $2,500,000 is the opportunity cost

• B The $2,500,000 is considered sunk cost

• C The $500,000 is the opportunity cost

• D The $3,000,000 is considered sunk cost

A project manager is holding a meeting with relevant stakeholders to perform a benefits analysis for a project that has been selected by the company. The project is codenamed Project Tiger and has a net present value of $3,000,000. One of the meeting participants asks about Project Panther, which was estimated to have a net present value of $2,500,000. The project manager explains that Project Panther was rejected because the company did not have the resources to support both projects.

What else might the project manager state in this scenario?

• A The $2,500,000 is the opportunity cost

• B The $2,500,000 is considered sunk cost

• C The $500,000 is the opportunity cost

• D The $3,000,000 is considered sunk cost

A project is divided into phases. Each phase consists of tasks involving design, development, testing, and integration. You have developed a project charter, and the project sponsor has just signed and approved the charter.

The purpose of this document includes all of the following, except:

• A To provide a direct link between the project and the company's strategic objectives

• B To provide a formal record of the project

• C To show organizational commitment to the project

• D To authorize functional management responsibilities to the project manager