A design engineer is helping to ensure that the dependencies within her area of expertise are properly defined on the project. The design of several deliverables must be complete before manufacturing can begin. This is an example of what type of dependency?

Your sponsor and stakeholders have made it clear they wish to be kept informed on the project status. There are many aspects of the project on which you will report, and you want to choose the most appropriate tool to use in each case. Which of the following are generally illustrated better by bar charts than network diagrams?

A heuristic is best described as a:

Lag means:

A project manager is new to the company but has 10 years of project management experience. She is given a medium-sized project and is asked to plan so it is finished as quickly as possible because the company has a large list of projects to complete in the coming year. She will be given another project to manage as soon as she has this one baseline She needs to report on the longest time the project will take. Which of the following is the best project management tool to use to determine this?

Which of the following is correct?

A new project manager is walking you through the schedule she has created for her project. She asks you about the duration of a particular milestone, so she knows how to properly schedule it What will you tell her about a milestone's duration?

Which of the following best describes the relationship between standard deviation and risk?

The float of an activity is determined by:

To help them determine the schedule baseline, the team has drafted a network diagram. The project manager adds the time estimates for each activity to establish the critical path for the project. They discover the project has three critical paths. Which of the following best describes how this discovery will affect the project?

The team is working on a project to develop or procure a customized software package that will be used by delivery drivers for a new chain of pizza restaurants. There are multiple stakeholders on this project. Because of other ongoing projects to design, buil and equip brick-and-mortar restaurant locations, you are informed that there is no rush to complete this software development work. If project time and cost are not as important as the number of resources used each month, which of the following is the best thing to do?

You have identified a diverse group of stakeholders, and you will need to report information in a variety of ways to meet their different communications needs. When will you use a milestone chart instead of a bar chart?

The organization is committed to rolling out a new cell phone accessory at an industry trade show in six months. The sponsor has made it clear that this product, to be created by your project team, must meet a long list of requirements, adhere to high quality standards, an most importantly, be ready in time for the trade show. The sponsor has promised to commit as many resources as necessary for you to complete the project within these constraints. Your project management plan results in a project schedule that is too long. If the project network diagram cannot change but you have extra personnel resources, what is the best thing to do?

Your team worked hard throughout project planning, thoroughly defining and estimating each activity required to complete the work. The resulting network diagram supported the end date that was approved by the team, management, and the stakeholders. As work has progresse most milestones have been met. On two occasions, workarounds were needed to deal with the occurrence of unidentified risk events. With continued attention to detail, you have been successful in keeping the project on schedule and within budget. Now, an opportunity is identified that can only be realized if the project is completed two days ahead of schedule. Which of the following is the best thing to do when asked to complete a project two days earlier than planned?

Although the customer agreed to the original project schedule, they are now asking for an earlier project finish. They are being pressured by their own customers. The project manager's sponsor thinks finishing early is not only a viable option but also a good idea for your organization because it will enable you to start another project sooner. In attempting to complete the project faster, the project manager looks at the cost associated with crashing each activity. The best approach to crashing would also include looking at the:

You are working collaboratively with the teaml to plan a project. You have obtained estimates from team members on the activities for which they each will be responsible. You are currently reaching agreement on the calendar dates for each activity. Which of the following processes are you working on?

A project manager is in the middle of executing a large construction project when he discovers the time needed to complete the project is longer than the time available. What is the best thing to do?

During project planning, you estimate the time needed for each activity and then total the estimates to create the project estimate. You commit to completing the project by this date. What is wrong with this scenario?

You are a project manager on a $5,000,000 software development project. While working with your project team to develop a network diagram, you notice a series of activities that can be worked in parallel but must finish in a specific sequence. What type of activity sequencing method is required for these activities?

You are a project manager on a US $5,000,000 software development project. While working with your project team to develop a network diagram, your data architects suggest that quality could be improved if the data model is approved by senior management before moving on to other design elements. They support this suggestion with an article from a leading software development journal. Which of the following best describes this type of input?

You have a project with the following activities: Activity A takes 40 hours and can start after the project starts. Activity B takes 25 hours and should happen after the project starts. Activity C must happen after activity A and takes 35 hours. Activity D must happen after activities B and C and takes 30 hours. Activity E must take place after activity Cand takes 10 hours. Activity F takes place after Activity E and takes 22 hours. Activities F and D are the last activities of the project. Which of the following is true if activity B actually takes 37 hours?

A project manager has received activity duration estimates from his team. Which of the following does he need in order to complete the Develop Schedule process?

A project manager is taking over a project from another project manager during project planning. If the new project manager wants to see what the previous project manager planned for managing changes to the schedule, it would be best to look at the:

A project manager is using weighted average duration estimates to perform schedule network analysis. Which of mathematical analysis is being used?

The WBS, estimates for each work package, and the network diagram are complete The next thing for the project manager to do is:

A new product development project has four levels in the work breakdown structure and has been sequenced using the precedence diagramming metho The activity duration estimates have been receive What should be done next?

You are the project manager for a new product development project that has four levels in the work breakdown structure. The network diagram and duration estimates have been create and a schedule has been developed and compresse Which schedule management activity should you do next?

A team member from research and development tells you that her work is too creative to provide you with a fixed single estimate for the activity. You both decide to use the average labor hours (from past, similar projects) to develop a prototype. This is an example of which of the following?

As part of a project manager's due diligence, he reviews the schedule, focusing on each activity as its start time approaches. He also monitors activities as they progress. He is currently looking at an activity that has an early start (ES) of day 3, a late start (LS) of day 13, an early finish (EF) of day 9. and a late finish (LF) of day 19. In all likelihoo this activity.

The project is calculated to be completed four days after the desired completion date. You do not have access to additional resources. The project is low risk, the benefit-cost ratio is expected to be 1.6, and the dependencies are preferential. Under these circumstances, what is the best thing to do?

A project manager for a small construction company has a project that was budgeted for $130,000 over a six-week perio According to the schedule, the project should have cost S60,000 to date. However, it has cost $90,000 to date. The project is also behind schedule, because the original estimates were not accurate. Who has the primary responsibility to solve this problem?

Senior management is complaining that they are not able to easily determine the status of ongoing projects in the organization. Which of the following types of reports would help provide summary information to senior management?

Rearranging resources so that a constant number of resources is used each month is called:

The team is helping the project manager estimate activities on their project. They are experienced and skille and many members have been with the company for some time. There are several activities they need to estimate that have not been previously done by the company. What is the best method of estimating these activities?

During project executing, a large number of changes are made to the project. Several of the change requests have come from the customer, significantly changing the functionality of the originally requested product. Six project team members have been reassigned by management to a higher- priority project, and they have been replace As project work has progresse many of the identified risks have occurred and have been successfully mitigate However, three contingency plans have been adjusted and will be implemented if identified risks recur during the remainder of the project. The project manager should:

One common way to compute estimate at completion (EAC) is to take the budget at completion (BAC) and:

The finance department requires that you keep them updated on the costs being spent on the capital project you are leading. You were required to submit a funding plan, and monthly forecasts are necessary so that any changes to the funding plan can be requested in advance and evaluate Exceeding the budget limit is unacceptable, as it will impact the stock value. You have successfully implemented processes and practices to anticipate funding changes, and you evaluate them to minimize problems and increase the efficient use of funds. You have employed a variety of reporting and analysis techniques to meet the finance department requirements, One of them is EA which is a periodic evaluation of:

If earned value (EV) 350, actual cost (AC)- 400, and planned value (PV) = 325, what is the cost variance (CV)? ^→ CV=EV-AC

The customer responsible for overseeing your project asks you to provide a written cost estimate that is 30 percent higher than your estimate of the project's cost. He explains that the budgeting process requires managers to estimate pessimistically to ensure enough money is allocated for projects. What is the best way to handle this?

You've recently been assigned to manage a marketing project to brand a sustainable development program. Even though you are just starting your efforts, the sponsors are concerned about the likelihood of reaching planned milestones during the project. They are wondering how you will go about estimating. Analogous estimating:

You have been working with the subject matter experts to estimate the activity durations and costs on the project. All the following are outputs of the Istimate Costs process except:

The product your project team is working on is a replacement of a device the company launched a couple of years ago. That device did not meet market projections for sales, even though it was revolutionary in its capabilities. The reason it did not meet projections was that the life cycle costing was not fully considered and analyzed during the device development. When the original device was offered to the market, it had initial success until a trade publication analyzed the life cycle costs and determined they were unreasonably high. Sales lagged due to the negative reports. Internal tests showed that the trade publication was correct. This time the team is taking life cycle costs into consideration as they develop the product. The main focus of life cycle costing is for:

You're managing a project to develop a new mobile application for the inventory-tracking-and-control system of a restaurant franchise organization. Schedule is the highest-priority constraint for the leadership team, but the franchise owners are most concerned about cost and the quality of the application. If there are bugs and errors in the system, they will pay higher costs on waste or lost sales. But investing a lot of effort into delivering great functionality could be expensive. It was decided that an adaptive approach to the project life cycle would likely be the best way to balance the competing priorities and deliver a working, cost-effective application. The franchise decision team has been meeting with the development team. The groups feel good about the project's progress, but they are hearing concerns from other stakeholders about what the impact will be to the bottom line and whether the system will be ready for launch. These concerns were anticipated in planning, and will be managed with cost performance measurement. Cost performance measurement is best done through which of the following?

A cost performance index (CPI) of 0.89 means:

The team's attitude toward the project is very positive. They are excited about the research and development work they are doing. The value of the work completed today is $60 million. The potential consumers from the product testing and focus groups have stated "the product will be amazing" and "they would absolutely buy it." Ihe phase gate review board has received the reports and is asking for market projections and launch plans. They are wondering when this product can start returning value to the organization. The project is budgeted to cost $77,million. The value of the work planned to be done to this point is $78.9 million. What does the schedule performance index (SPI) for this project tell you?

The project management team is busy breaking down deliverables, and the procurement department has started looking for possible sellers to help produce the deliverables. There are departmental concerns that the project could go over budget because the scope will be iterated and the planning and development will be done in increments. At a recent company gathering, the sponsor asked questions of the project manager and the project management staff team about how changes in scope will affect the estimates. The sponsor wanted to know how the project estimates could be relied upon, given that they were planning to iterate the scope. The project manager reassured them that the team has the right tools with which to provide accurate estimates, and will utilize the tools throughout the project. Which of the following is not needed in order to come up with a project estimate?

Which of the following is an example of a parametric estimate?

A rough order of magnitude (ROM) estimate is made during which project management process group?

For each activity on your project, you have worked with designers, engineers, technical experts, and consultants to come up with details on the resources needed to complete the activity. For some of the activities the lists are quite long, as you need raw and finished materials, equipment, and people. You have a limited amount of warehousing available, so you have to coordinate the deliveries and work so that the materials and equipment are delivered as close to the start of an activity as possible. You and the project management team have identified the amount of time and money needed for each of the activities, which you have then aggregated and analyzed with their help. These efforts will eventually result in the creation of a cost baseline for the project. A senior manager is trying to better understand the work of project management and has asked which process produces the cost baseline. What is the correct response?

During which project management process group are budget forecasts created?

Which type of cost is team training?

Project setup costs are an example of:

The quality efforts on the project have gone through some changes during the first four months of project work. Two processes in particular have undergone extensive change. The customer is happy with the work to date, but has heard that the competition is working on a similar product. The team has been asked to analyze and create options for the customer. Value analysis is performed to get:

Which estimating method tends to be most costly for creating a project cost estimate?

To gain a clear indication of how the project is progressing, the buyer expects periodic reporting that includes analysis of the work that has been accomplished according to plan, the dollars that have been spent and how they reflect the planned expenses, the accepted deliverables, and evaluation of the risk events that have occurre Which of the following represents the estimated value of the work actually accomplished?

Which of the following are all items included in the cost management plan?

Your project has a medium amount of risk and is not very well define The sponsor hands you a project charter and asks you to confirm that the project can be completed within the project cost budget. What is the best method to handle this?

You are leading a project to introduce a new healthcare appointment scheduling application. As you are creating plans detailing how the team will respond to possible events that may impact the project, you and the team determine the amount of cost contingency reserve needed. The cost contingency reserve should be:

You are having difficulty estimating the cost of a project. Which of the following best describes the most probable cause of your difficulty?

Your cost forecast shows you will have a cost overrun at the end of the project. Which of the following should you do?

Early in the life of your project, you are having a discussion with the sponsor about what estimating techniques should be use You want a form of expert judgment, but the sponsor argues for analogous estimating. It would be best to:

You have just completed the initiating processes of a small project and are moving into project planning when a project stakeholder asks you for the project's budget and cost baseline. What should you tell her?

The project manager is working with cost estimates in order to establish a baseline for measuring project performance. What process is this?

Monitoring cost expended to date in order to detect variances from the plan occurs during:

You're thinking through what approach will make it easiest for the team to take responsibility for providing work performance data for all aspects of the project. As part of this approach, you believe it will be helpful to make sure the team understands how and why the data will be analyze You explain to the team that the cost management plan contains a description of:

A manufacturing project has a schedule performance index (SPI) of 0.89 and a cost performance index (CPI) of 0.91. Generally, what is the most likely explanation for why this occurred?

Although the stakeholders thought there was enough money in the budget, halfway through the project the cost performance index (CPI) is 0.7. To determine the root cause, several stakeholders audit the project and discover the project cost budget was estimated analogously. Although the activity estimates add up to the project estimate, the stakeholders think something was missing in how the estimate was complete Which of the following describes what was missing?

In analyzing problems that have occurred during testing, the team discovered that cause-and-effect diagramming is helpful in identifying the best place to focus their efforts. Their coordination of the interrelationships of the deliverables has improve and the team has discovered efficiencies that have been shared with other projects and the organization for process improvement. This has made a difference in how well the project is aligning to the performance measurement baseline. Stakeholders are anticipating that control efforts and reporting on future projects will be easier, Earned value analysis is the basis for:

The replacement of the inventory management and portion control system for an international restaurant chain has been prioritized as a key strategic objective for the organization. Stakeholders are very concerned about many aspects of the project. They have shared these concerns and ideas in workshops, focus groups, emails, and surveys. Identified risks are:

There is confusion among some of the stakeholders about how the cost forecasts will be calculated on the project. They also have concerns about whether enough money has been set aside to cover the cost of risk responses. You are planning to share information in the upcoming team meeting and in reports to stakeholders to clear up the confusion. You are referencing the stakeholder and communications management plans to determine how best to communicate with the stakeholders. You will explain that the difference between the cost baseline and the cost budget can be best described as:

You provide a project cost estimate for the project to the project sponsor. He is unhappy with the estimate, because he thinks the price should be lower. He asks you to cut 15 percent off the project estimate. What should you do?

Cost risk means:

A project manager is analyzing the project to find ways to decrease costs. It would be best if the project manager looks at: