PFQ LO#4.2

What is the primary purpose of the Project Management Plan (PMP)?

• To determine the project’s profitability
• To detail what the project is delivering and how it will be delivered
• To assign tasks to team members
• To outline the project’s risk management strategies

Answer explanation

The correct answer is "To detail what the project is delivering and how it will be delivered." Relevant Passage: "The PMP is a document that details what the project is delivering, how it will be delivered, when it will be delivered, who will be involved and how much the project will cost."

Which of the following is included in the ‘WHAT’ section of the PMP?

• Budget and Cost Breakdown Structure
• Organisation Breakdown Structure (OBS)
• Project success criteria and KPIs
• Monitoring and control procedures

Answer explanation

The correct answer is "Project success criteria and KPIs." Relevant Passage: "WHAT?... Project success criteria and KPIs"

Who is responsible for creating and maintaining the PMP?

• Project Sponsor
• Project Manager
• Resource Managers
• End Users

Answer explanation

The correct answer is "Project Manager." Relevant Passage: "Project manager. Responsible for creating and maintaining the project management plan."

Which document lists identified risk events and their planned responses?

• Issue log
• Change register
• Quality log
• Risk register

Answer explanation

The correct answer is "Risk register." Relevant Passage: "Risk register: A document listing identified risk events and their corresponding planned responses."

What aspect of the deployment baseline is fixed at the end of the definition phase in a linear life cycle?

• Project budget only
• Scope, quality, resourced schedule, and cost
• Project scope and quality only
• Time and budget only

Answer explanation

The correct answer is "Scope, quality, resourced schedule, and cost." Relevant Passage: "For projects using a linear life cycle, all aspects of the deployment baseline (scope and quality with associated resourced schedule and cost) are fixed at the end of the definition phase."

In an iterative life cycle, what remains flexible in the deployment baseline?

• Project budget
• Project schedule
• Scope and quality
• Time and resources

Answer explanation

The correct answer is "Scope and quality." Relevant Passage: "When taking an iterative approach... scope and quality of project deliverables are not expected to be fixed in the deployment baseline; only the project’s budget and time are set."

What is the purpose of project progress reporting?

• To eliminate the need for stakeholder meetings
• To provide a basis for project cancellation
• To keep stakeholders informed and engaged
• To increase project costs

Answer explanation

The correct answer is "To keep stakeholders informed and engaged." Relevant Passage: "Progress reporting should be concise and ‘exception-based’ for ease of use with an emphasis on early warning and forecasting."

Which estimating technique involves using a statistical relationship between historic data and other variables?

• Analytical
• Analogous
• Parametric
• Predictive

Answer explanation

The correct answer is "Parametric." Relevant Passage: "Parametric (top-down) Uses a statistical relationship between historic data and other variables to calculate and estimate."

What is the purpose of the estimating funnel?

• To narrow down the project scope
• To increase project funding
• To improve the accuracy of estimates over time
• To manage project resources

Answer explanation

The correct answer is "To improve the accuracy of estimates over time." Relevant Passage: "The concept of the estimating funnel is helpful as it represents the increasing levels of estimating accuracy achieved through the life cycle."

Why is it important to establish success criteria at the start, during, and at the handover of a project?

• To ensure project tasks are completed on time
• To keep stakeholders happy
• To measure project performance and ensure objectives are met
• To track project expenses

Answer explanation

The correct answer is "To measure project performance and ensure objectives are met." Relevant Passage: "Success criteria are concerned with the satisfaction of stakeholder needs for the deployment of a project."