All of the following are factors in the assessment of project risk EXCEPT:

A project manager is being considered for a particular project that will deal exclusively with global virtual teams. He only has experience with local teams. What should he do when discussing the opportunity with the sponsor?

A project has three critical paths. Which of the following BEST describes how this affects the project?

Risk tolerances are determined in order to help:

A major negotiation with a potential subcontractor is scheduled for tomorrow when you discover there is a good chance the project will be cancelled. What should you do?

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?

All of the following are common results of risk management EXCEPT:

You've been assigned to take over managing a project that should be half complete according to the schedule. After an extensive evaluation, you discover that the project is running far behind schedule and that the project will probably take twice the time originally estimated by the previous project manager. However, the sponsor has been told that the project is on schedule. What is the BEST course of action?

When would a milestone chart be used instead of a bar chart?

Purchasing insurance is BEST considered an example of risk:

You are halfway through a major network rollout. There are 300 locations in the US with another 20 in England. A software seller has just released a major software upgrade for some of the equipment being installed. The upgrade would provide the customer with functionality they requested that was not available at the time the project began. What is the BEST course of action under these circumstances?

Your project management plan results in a project schedule that is too long. If the project network diagram can not change but you have extra personnel resources, what is the BEST thing to do?

You are finding it difficult to evaluate the exact cost impact of risks. You should evaluate on ano

You are a project manager for one of many projects in a large and important program. At a high level status meeting, you note that another project manager has reported her project on schedule. Looking back on your project over the last few weeks, you remember many deliverables from the other project that arrived late. What should you do?

Which of the following is the BEST thing to do to try to complete a project two days earlier?

Output of the Plan Risk Responses process includes:

You have always been asked by your management to cut your project estimate by 10% after you have given it to them. The scope of your new project is unclear and there are over 30 stakeholders. Management expects a 25% reduction in downtime as a result of the project. Which of the following is the BEST course of action in this situation?

. 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:

Workarounds are determined during which risk management process?

You are in the middle of a project when you discover that a software seller for your project is having major difficulty keeping employees due to a labor dispute.Many other projects in your company are also using the company's services. What should you do?

Which of the following processes includes asking team members about the time estimates for their activities and reaching agreement on the calendar date for each activity?

During which risk management process is a determination to transfer a risk made?

All of the following are the responsibility of a project manager EXCEPT:

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

A project management has just finished the risk response plan for a US$387,000 engineering project. Which of the following should he probably do NEXT?

In order to complete work on your projects, you have been provided confidential information from all of your clients. A university contacts you to help it in its research. Such assistance world require you to provide the university with some of the client data from your files. What should you do?

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

A project manager asked various stakeholders to determine the probability and impact of a number of risks. He then analyzed the assumption. He is about to move to the next step of risk management. Based on this information, what has the project manager forgotten to do?

Management has promised you part of the incentive fee from the customer if you complete the project early. While finalizing a major deliverables, your team informs you that the deliverables meets the requirements in the contract but will not provide the functionality the customer needs. If the deliverable is late, the project will not be completed early. What action should you take?

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?

A project manager has assembled the project team, identified 56 risks on the project, determined what would trigger the risks, rated them on a risk rating matrix, tested their assumptions, and assessed the quality of the data used. The team is continuing to move through the risk management process. What has the project manager forgotten to do?

You have just discovered an error in the implementation plan that will prevent you from meeting a milestone date. The BEST thing you can do is:

A dependency requiring that design be completed before manufacturing can start is an example of a:

If a project has a 60% chance of a US$100,000 profit and a 40% chance of a US$100.000 loss, the expected monetary value for the project is:

A project manager gathered data to perform earned value calculations on his project. He used the results to report to management that the project is under budget and on schedule. After reporting this information, he discovered that the base figures he used in the calculations were incorrect, as they came from an old copy of the project file which had not been updated. What should he do now?

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 take 35 hours. Activity D must happen after activities B and C and takes 30 hours. Activity E must take place after activity C and 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?

Your task is to develop and install 10 printer drivers with a budget of $100.000 in 10 weeks. At week 5, 4 printer developed and installed and $47.500 was spent. What is CPI & SPI

Samantha is a Project Manager of a Software product. The project required an initial investment of $100,000. The project generated a revenue of $20,000 in the first year. There were operational cost of $5000 and tax liability of another $5000. What is the return on invested capital?

You are a project manager on a $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 what this type of input is called?

You are a project manager for the contruction of a major new manufacturing plant that has never been done before. The project cost is estimated at US$30,000,000 and will make use of three sellers. Once begun, the project cannot be cancelled as there will be a large expenditure on plant and equipment, As the project manager, it would be MOST important to carefully:Review all cost proposals from the sellers

While testing the strength of concrete poured on your project, you discover that over 35% of the concrete does not meet your company's quality standards. You feel certain the concrete will function as it is, and you don't think the concrete needs to meet the quality level specified. What should you do?

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?

During the Plan Risk Management process, your team has come up with 434 risks and 16 major causes of those risks. The project is the last of a series of project that the team has worked on together. The sponsor is very supportive, and a lot of time was invested in making sure the project work was complete and signed off by all key stakeholders.

During project planning, the team cannot come up with an effective way to mitigate or insure against a risk. It is not work that can be outsourced, nor can it be deleted. What would be the BEST solution?

You are the project manager for a new international project, and your project team includes people from four countries. Most of the team members have not worked on similar projects before, but the project has strong support from senior management. What is the BEST thing to do ensure that cultural differences do not interfere with the project?

A project manager is taking over a project from another project manager during the planning process group. 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 quantifying for her project. Several of her experts are offsite, but wish to be included. How can this be done?

A project has a tight budget when you begin negotiating with a seller for a piece of equipment. The seller has told you that the equipment price is fixed. Your manager has told you to negotiate the cost with the seller. What is your BEST course of action?

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

An experienced project manager has just begun working for a large information technology integrator. Her manager provides her with a draft project charter and immediately asks her to provide and analysis of the risks on the project. Which of the following would BEST help in this effort?

A certified PMP is contacted by PMI and asked to provide information regarding another project manager who has been reported to be involved in unethical activities. The PMP certified project manager knows his information would support the accusations and the other project manager in question is a friend. He decides that the best thing to do would e to not respond and therefore neither confirm nor deny accusations. Would this be the right thing to do?

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 labor hours per installation from past project to predict the future/ This is an example of which of the following?

You have been appointed as the manager of a new, large and complex. Because this project is business-critical and very visible, senior management has told you to analyze the project's risks and prepare response strategies for them as soon as possible. The organization has risk management procedures that are seldom used or followed, and has had a history of handling risks badly. The project's first milestone is in two weeks. In preparing the risk response plan, input from which of the following is genereally LEAST important?

A project manager discovers a defect in a deliverable due to the customer under contract today. The project manager knows the customer does not have the technical understanding to notice the defect. The deliverable meets the contract requirements but it does not meet the project manager's quality standard. What should the project manager do in this situation?

If the optimistic estimate for an activity is 12 days, and the pessimistic estimate is 18 days, what is the standard deviation of this activity?

You are in a middle of a two-year project to deploy new technology to field offices across the country. A hurricane caused power outages just when the upgrade near completion. When the power was restored, all of the project reports and historical data were lost with no way of retrieving them. What should have been done to prevent this problem?

 Management tells a project manager to subcontract part of the project to a company that management has worked with manay times. Under these circumstances, the project manager should be MOST concerned about:

An activity has an ES=3, LS=13, EF=9 and LF=19 of day 19. The activity

A system development project is nearing project closing when a previously unidentified risk is discovered. This could potentially affect the project's overall ability to deliver. What should be done NEXT?

Three students from another country are working as interns on a project. The project manager has arranged for some games to play as team-building activities to help create a close knit sense of team with the group members. At the event where the activities are taking place, the three students refuse to participate, claiming the behaviour involved is unacceptable in their country and they would be very uncomfortable participating. What should the project manager do?

The cost performance index of a project is 0.6 and the schedule performance index is 0.71. The project has 625 work packages and is being completed over a four-year period. The team members are very inexperienced, and the project received little support for proper planning. Which of the following is the BEST thing to do?

A project manager discovers an urgent need for outsourced resources on the project. He knows he has the money to cover the cost of these resources. He goes to the procurement manager and explains the situation, insisting a contract be drawn up today so he can obtain resources and circumvent the standard procedure.Is this the correct process to follow?

While preparing your risk responses, you identify additional risks. What should you do?

The engineering department wants the project objective to be a 10% improvement in throughput. The IT department wants no more than 5% of its resources to be used on the project. Management, who is also your boss, wants the project team to decrease tax liability. The BEST thing you can do is:

You have just been assigned as the project manager for a new telecommunication project that is entering the second phase of the project. There appear to be many risks on this project, but no one has evaluated them to assess the range of possible project outcomes. What needs to be done?

You are finalizing the monthly project status report due now to your manager when you discover that several project team members are not reporting actual hours spent on project activities. This results in skewed project statistics. What is the MOST appropriate action to be taken?

Which of the following are GENERALLY illustrated BETTER by bar charts than network diagram?

Assuming that the ends of a range of estimate are +/- 3 sigma from the mean, which of the following range estimate involves the LEAST risk?

A project manager is working with a vendor on a project when she learns that the vendor has bribed a subcontractor to work on this project instead of fulfilling previous commitments to other projects. What should she do?

During project excuting, a team member identifies a risk that is not in the risk register. What should you do?

During project executing, a major problem occurs that was not included in the risk register. What should you do FIRST?

The customer requests a change to the project that would increase the project risk. Which of the following should you do before all the others?

Which of the following is a chief characteristic of the Delphi technique?

A project has had some problems, but now seems under control. In the last few months, almost all the reserve has been used up and most of the negative impacts of events that had been predicted have occurred. There are only four activities left, and two of them are on the critical path. Management now informs the project manager that it would be in the performing organization's best interest to finish the project two weeks earlier than scheduled in order to receive an additional profit. In response, the project manager sends out a request for proposal for some work that the team was going to do, in the hopes that another company might be able to do the work faster. The project manager can BEST be said to be attempting to work with:

Monte Carlo analysis is used to:

A project team is creating a project management plan when management asks them to identify project risks and provide some form of qualitative output as soon as possible. What should the project team provide?

A project manager is creating a risk response plan. However, everytime a risk response is suggested, another risk is identified that is caused by the response. Which of the following is the BEST thing for project manager do?

A watchlist is and output of which risk management process?

During the Identify Risk process, a project manager made a long list of risk identified by all the stakeholders using various methods. He then made sure that all the risks were understood and that triggers has been identified. Later, in the Plan Risk Responses process. he took all the risks identified by the stakeholder and determined ways to mitigate them. What has he done wrong?

Lag means:

During the Identify Risk process, a project manager made a long list of risk identified by all the stakeholders using various methods. He then made sure that all the risks were understood and that triggers has been identified. Later, in the Plan Risk Responses process. he took all the risks identified by the stakeholder and determined ways to mitigate them. What has he done wrong?

Which of the following risk events is MOST likely to interfere with attaining a project's schedule objective?

You are in the middle of a new product development for your publicly traded company when you discover that the previous project manager made a $3mil payment that not approved in accordance with your company policies. Luckily, the project cost performance index is 1,2. What should you do?

Which of the following MUST be an agenda item at all team meeting?

Which of the following is the BEST project management tool to use to determine the longest time the project will take?

If a risk has a 20% chance of happening in a given month, and the project is expected to last five months, what is the probability that this risk event will occur during the fourth month of the project?

A decision has to be made regarding project selection. Several project managers have been asked to give their opinions to the executive committee. Each project manager has a personal interest because the project chosen will drive which project manager will be assigned. The project chosen will be high priority and high visibility, with substantial reward for success. How should the project managers make their recommendations?

Which of the following is CORRECT?

If a risk event has a 90% chance of occuring, and the consequences will be US$10,000, what does US$9,000 represent?

When checking the calendar of a team member to schedule a meeting, you see she has scheduled a meeting with a key stakeholder that you were not informed of. The BEST approach would be to:

What is the duration of a milestone?

1. Identify Risks and Monitor and Control Risks

Your employee is three days late with a report. Five minutes before the meeting where the topic of the report is to be discussed, she hands you the report. You notice some serious errors in it. What should you do?

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

What should be done with risks on the watchlist?

A manager has responsibility for a project that has the support of a senior manager. From the beginning, you have disagreed with the manager as to how the project should proceed and what the deliverables should be. You and she have disagreed over many issues in the past. Your department has been tasked with providing some key work packages for the project. What should you do?

The float of an activity is determined by:

All of the following are ALWAYS inputs to the risk management process EXCEPT

A large, complex construction project in a foreign country requires coordination to move the required equipment through crowded city streets. To ensure the equipment is transported successfully, your contact in that country informs you that you will have to pay the local police a fee for coordinating traffic. What should you do?

Human resource management includes ____ processes.