Capital Asset Pricing Model (CAPM) Exam Secrets Study Guide, Exams of Marketing Business-to-business (B2B)

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CAPM Exam Secrets Study Guide

Select the best description of the planning process group The process(es) required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve. The process(es) required to establish the scope of the project, refine the objectives, and define the course of action required to include in the project charter The process(es) performed to define a new project or a phase of an existing project by obtaining authorization to start the project or phase. The process(es) required to plan how the project will take place through meetings with project stakeholders. - The process(es) required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve. Which of the following data analysis techniques helps to determine which individual project risks or other sources of uncertainty have the most potential impact on project outcomes? Influence diagrams Decision tree analysis Simulations Sensitivity analysis - Sensitivity analysis Using the data below, which item is MOST over budget? Item--------PV--------AC--------EV 1--------10,000--------11,000--------10, 2--------9,000--------8,000--------8, 3--------8,000--------8,000--------8, 4-------7,000-------7,000--------5,000 - Cost Performance Index (CPI) A CPI value of less than 1.0 indicates a cost overrun for work completed. A CPI Value greater than 1. indicates a cost under-run of performance to date. CPI = EV / AC Item 4

All of the following are characteristics of the project charter EXCEPT: It formally authorizes the existence of a project. It provides a direct link between the project and the strategic objectives of the organization. It is used primarily to request bids for a project or a specific phase of a project. It provides the project manager with the authority to apply organizational resources to project activities.

• It is used primarily to request bids for a project or a specific phase of a project. Memos and emails are examples of what communication method? Interactive Push Pull Transmit Message - Push Which of the following contains information on the threats and opportunities that may impact resource planning? Resource Calendar Staff Release Plan Project Organization Chart Risk Register - Risk Register As the project manager, which of the following is your responsibility as part of the Monitoring and Controlling Process Group? Continuously monitor the work being completed Build team cohesiveness and relationships to both external and internal stakeholders Ensure stakeholder needs are being met in relation with the approved scope Integrate the various parts of the project work into a cohesive whole - Continuously monitor the work being completed

Addressing any risks or potential risks or potential concerns related to stakeholders and anticipating future issues that may be raised by stakeholders are activities that are a part of which project management process Identify Stakeholders Control Stakeholder Engagement Manage Stakeholder Engagement Monitor Stakeholder Engagement - Manage Stakeholder Engagement Which of the following is a tool and technique of the Monitor Risks process? Interpersonal and team skills What-if scenario analysis Meetings Data Gathering - Meetings Updates to project documents such as schedule and cost forecasts, work performance reports, and the issue log are outputs of what process? Monitor and Control Project Work Control Quality Direct and Manage Project Work Plan Risk Response - Monitor and Control Project Work What process involves tracking, reviewing and reporting project progress against the defined performance objectives in the project management plan? Develop Project Management Plan Direct and Manage Project Work Perform Integrated Change Control Monitor and Control Project Work - Monitor and Control Project Work

Change Requests are processed for review and disposition through the Perform Integrated Change Control process and may include which of the following types of change activities? Preventative action Nonconforming repair Swift Action Default repair - Preventative action Also acceptable Corrective Action Defect Repair CCB - Change Control Board. Responsible for approving or rejecting change requests. The roles and responsibilities of these boards are clearly defined within the configuration control and change control procedures, and are agreed upon by appropriate stakeholders. Assumption logs and issues logs are inputs to which Project Integration Management Process Direct and Manage Project Work Perform Integrated Change Control Monitor and Control Project Work Develop Project Management Plan - Monitor and Control Project Work Inputs to Monitor and Control Project Work - 1 Project Management Plan 2 Project Documents (assumption log, basis of estimates, cost forecasts, issues log, lessons learned register, milestone list, quality reports, risk register, risk report, schedule forecasts) 3 Agreements 4 Work Performance Information 5 Enterprise Environmental Factors 6 Organizational Process Assets What tool or technique can be used in the Monitor and Control Project Work Process? Cause-and-effect diagrams Matrix diagrams Logical Data Model

Trend Analysis - Trend Analysis Tools & Techniques used in the Monitor and Control Project Work Process - Expert Judgement Data Analysis (alternative analysis, cost-benefit analysis, earned value analysis, root cause analysis, trend analysis, variance analysis) Decision Making Meetings What tool or technique is used in the Monitor and Control Project Work Process? Work performance trends Data analysis Schedule compression Facilitation techniques - Data analysis What change request is an intentional activity that ensures that the future performance of project work aligns with the project management plan? Update Preventative Action Defect Repair Corrective Action - Preventative Action Change requests are processed for review and disposition through the Perform Integrated Change Control process and may include which of the following types of change activities? Swift Action Default Repair Nonconformaing Repair Preventive Action - Preventive Action Which of the following is a tool and technique of the Perform Integrated Change Control process Stakeholder analysis

Project Management Information Systems Virtual Teams Data Analysis - Data Analysis What is the name of a formally chartered group responsible for reviewing, evaluating, approving, deferring, or rejecting changes to the project, and for recording and communication such decisions? Change Control Board Nominal Group Board of Directors Focus Group - Change Control Board A change control board (CCB) is: A dashboard that provides integrated information to help control changes to cost, schedule, and specifications throughout the life of the project. A formal or an informal group of stakeholders that has oversight o project execution A formally chartered group of stakeholders responsible for ensuring that only a minimal amount of changes occurs on the project A formally chartered group responsible for reviewing, evaluating, approving, deferring, or rejecting changes to the project, and for recording and communicating such decisions. - A formally chartered group responsible for reviewing, evaluating, approving, deferring, or rejecting changes to the project, and for recording and communicating such decisions. All of the following are data analysis techniques used in project closeout except: Trend analysis, used to validate modules used in the organization and to implement adjustments for future projects. Document analysis, used to identify lessons learned and knowledge sharing for future projects and organizational assets improvement. Regression analysis, used to determine which individual project risks or other sources of uncertainty have the most potential impact on project outcomes. Variance analysis, used to improve the metrics of the organization by comparing what was initially planned and the end result. - Document, Regression, Trend and Variance Analysis are used.

NOPE: Variance Nope: Document What are the tools and techniques used in the Close Project or Phase process? Expert judgment, data analysis, and meetings Meetings, inspections and audits, and expert judgment Expert judgment, project management information system (PMIS), and meetings Inspections and audits, analytical techniques, and variance analysis - Expert judgment, data analysis, and meetings All of the following Project Documents are inputs to Close Project or Phase EXCEPT: Milestone list, Basis of estimates, and Quality Control measurements Lessons learned register, risk register, and Stakeholder register Requirements documentation, Risk Reports, and Quality reports Assumption log, Change log, and Issues log - Lessons learned register, risk register, and Stakeholder register All of the following are outputs to close the project or phase EXCEPT: Organizational process asset updates Environment enterprise factor updates Project documents updates Final product, service, or result transition - Environment enterprise factor updates All of the following are part of the project performance summary in the final report EXCEPT: Scope Objectives, the criteria used to evaluate the scope, and evidence that the completion criteria were met. Quality objectives, the criteria used to evaluate the project and product quality. Environmental objectives, the criteria used to evaluate the impact of the project on both internal and external organizations Cost objectives, the criteria used to evaluate the accepted cost range, actual costs, and reasons for any variances. -

Environmental objectives, the criteria used to evaluate the impact of the project on both internal and external organizations Which of the following activities are necessary for the administrative closure of the project or phase? Collecting any suggestions for improving or updating the policies and procedures of the organization and sending them to the appropriate organizational unit. Assuring benefits realization from the program and component projects. Resolving constraints and conflicts that affect multiple projects within the program. Prioritizing the work on the project to ensure the project resources are allocated to the appropriate work at the appropriate time. - Collecting any suggestions for improving or updating the policies and procedures of the organization and sending them to the appropriate organizational unit. Which of the following are Close Project and Phase tools and techniques: Expert judgement, Project management information systems, and meetings Expert judgement, data analysis, and meetings Expert judgement, data gathering and knowledge management. Expert judgement, Data gathering and data analysis. - Expert judgement, data analysis, and meetings What organization process assets are updated as part of the Close Project or Phase process? Change log Lessons learned repository Business Case Risk Report - Lessons learned repository Which of the following are inputs to Close Project or Phase Project Mangement Information System. Agreements and Quality Control Measurements Business Documents, Change Control Tools, and Requirements Documentation Procurement Documents, Lessons Learned, and Entreprise Environmental Factors Project Charter, Accepted Deliverables and Organizational Process Assets (OPAs) - NOPE: Business Documents, Change Control Tools, and Requirements Documentation

What are some of the key benefits of the Close Project or Phase process? Project document updates and the release of organizational resources The release of organization resources and stakeholder approval Lessons learned and the release of organizational resources Lessons learned and project document updates - Lessons learned and the release of organizational resources The process of formalizing acceptance of the completed project is which project management process associated with the Project Scope Management Knowledge Area Control Scope Validate Scope Define Scope Plan Scope Management (5.5) - Validate Scope Which statement describes agile/adaptive environments? Less time is spent trying to define and agree on scope, and more time is spent establishing the process for its ongoing discovery. Less time is spent trying to establish a process for ongoing discovery, and more time defining and agreeing on scope. Equal time is spent trying to define and agree on scope while establishing ongoing discovery. No time is spent defining scope; all efforts are spent on establishing ongoing discovery. - Less time is spent trying to define and agree on scope, and more time is spent establishing the process for its ongoing discovery. Agile scope planning is especially useful when: Scope is well understood at the beginning. Solution requirements are emerging all the time. Quality requirements are not stable. Business requirements are not stable. -

Which of the following is a tailoring consideration for Project Scope Management? Stability of requirements Project dimensions Knowledge management On-demand scheduling - Stability of requirements In predictive projects, the scope baseline for the project is the approved version of which document? Project scope description Requirements documentation Project scope statement Planning package - Project scope statement Within the Project Scope Management Knowledge Area, who is responsible for ensuring that requirements-related work is accounted for in the project management plan and that requirements- related activities are performed on time and within budget and deliver value? Business analyst Project specialist Project sponsor Project manager - Project manager Which of the following best describes a product lifecycle A series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement. A historical record of the development of a product. A process contained within the predictive project lifecycle and represents all project activities. The maturity of a project through a series of repeated cycles. - A series of phases that represent the evolution of a product, from concept through delivery, growth, maturity and to retirement.

Which of the following is a definition of a project? A temporary endeavor undertaken to create a unique product, service or result. An ongoing set of activities developed in order to meet customer requirements A revenue generating activity designed to produce customer satisfaction A set of sequential activities preformed in a process or system - A temporary endeavor undertaken to create a unique product, service or result. All of the following is true about project phases and the project lifecycle EXCEPT: The ability to influence the project's product, without significantly impacting cost is the highest at the start and decreases as the project progresses towards completion Stakeholder influences, risk, and uncertainty are greatest at the start of the project. These factors decrease over the life of the project. The cost of changes and correcting errors typically increases substantially as the project approaches completion. Cost and staffing levels are generally steady throughout the life of the project - Cost and staffing levels are generally steady throughout the life of the project The collection of generally sequential and sometimes overlapping project phases, whose name and number are determined by the management and control needs of the organization or organizations involved in the project is known as: Project Waterfall Project Life Cycle Project Life Stages Project Management Process Groups - Project Life Cycle Which of the following is the definition of project management: The application of knowledge, skills, and science to organizational activities to achieve operational excellence The application of engineering and technical disciplines to achieve customer satisfaction. The application of critical path method and earned value management within a project

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. - The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.