CAPM 7th Edition Practice Exam 22 Questions with Verified Answers,100% CORRECT, Exams of Advanced Education

Download CAPM 7th Edition Practice Exam 22 Questions with Verified Answers,100% CORRECT and more Exams Advanced Education in PDF only on Docsity! CAPM 7th Edition Practice Exam 22 Questions with Verified Answers The issues you are facing on your project could have been predicted if a formal risk management process was used. Which document would have been most useful to you along the entire risk management process, from identifying risks to planning and implementing responses to monitoring risks? A Risk register B List of risk triggers C Risk mitigation D Decision tree - CORRECT ANSWER Risk register - A risk register is a repository in which outputs of risk management processes are recorded. Information in a risk register can include the person responsible for managing the risk, probability, impact, risk score, planned risk responses, and other information used to get a high-level understanding of individual risks. There is a complaint from your team that the requirements against which it will work are unclear. What are three criteria that well-defined requirements should meet? (Choose 3) A. Consistent B. Clear and concise C. Verifiable D. Challenging E. Linked with milestones - CORRECT ANSWER A Consistent, B Clear and concise, C Verifiable , - To elicit means to draw out, bring forth, or evoke. There is more to collecting requirements than interviewing or conducting focus groups. Sometimes requirements are drawn out by analyzing data, observing processes, reviewing defect logs, or other methods. Part of eliciting requirements is documenting them and gaining stakeholder agreement. Well-documented requirements meet the following criteria: - Clear. There is only one way to interpret the requirement. - Concise. The requirement is stated in as few words as possible. - Verifiable. There is a way to verify that the requirement has been met. - Consistent. There are no contradictory requirements. - Complete. The set of requirements represents the entirety of the current project or product needs. - Traceable. Each requirement can be recognized by a unique identifier. Team development has been problematic due to handling of assumptions. Team members reject the notion that assumptions reflect uncertainty. Others suggest exploring assumptions should be an integral part of team building, following the Drexler/Sibbet Team Performance Model. What is the best way to describe the assumption handling in this model? A. A salesperson in charge has the responsibility of identifying all risks associated with a customer project. B. By managing and organizing assumptions, you can avoid risks from the start. C. A risk indicates uncertainty. Eliminating all uncertainties means a project would be risk-free. D. Finding out more about assumptions should be an element of goal clarification by the team. - CORRECT ANSWER D. Finding out more about assumptions should be an element of goal clarification by the team. - Goal clarification answers what. In this stage, the project team elaborates the high-level project information. This may include finding out more about stakeholder expectations, requirements, assumptions, and deliverable acceptance criteria. You were contacted this morning by a customer who complained about a member of your staff on customer's premises, complaining that they didn't fully blend in with her staff. In addition, she stressed that there are conflicts arising from different corporate cultures in her organization and yours. She requested that you motivate them to display greater stewardship. What is she referring to? (Choose 3) A. Care B. Respect C. Diligence D. Formal leadership E. Tayloring - CORRECT ANSWER A,B,C, - Stewards act responsibly to carry out activities with integrity, care, and trustworthiness while maintaining compliance with internal and external guidelines. They demonstrate a broad commitment to financial, social, and environmental impacts of the projects they support. - Stewardship encompasses responsibilities within and external to the organization. - Stewardship includes: • Integrity, • Care, • Trustworthiness, and • Compliance. - A holistic view of stewardship considers financial, social, technical, and sustainable environmental awareness. Be a Diligent, Respectful, and Caring Steward. A. Team facilitator B. Product owner C. Scrum master D. Cross-functional team member - CORRECT ANSWER B. Product owner - The product owner is responsible for guiding the direction of the product. Product owners rank the work based on its business value. Product owners work with their teams daily by providing product feedback and setting direction on the next piece of functionality to be developed/delivered. That means the work is small, often small enough to be described on one index card. The product owner works with stakeholders, customers, and the teams to define the product direction. Typically, product owners have a business background and bring deep subject matter expertise to the decisions. In agile, the product owners create the backlog for and with the team. You are the project manager, and three of your team members are constantly arguing with each other. In order to resolve their latest conflict, you help them come to a conclusion that uses a little of each of their ideas. Which conflict management technique is being used in this scenario? A. Withdraw/avoid B. Force/direct C. Collaborate/problem solve D. Compromise/reconcile - CORRECT ANSWER C. Collaborate/problem solve - Collaborate/problem solve There are five general techniques for resolving conflict. Each technique has its unique place and use: -Withdraw/avoid: Retreating from an actual or potential conflict situation; postponing the issue to be better prepared or to be resolved by others. -Smooth/accommodate: Highlighting areas of agreement rather than areas of difference; conceding one's position to the needs of others to maintain harmony. -Compromise/ reconcile: Searching for solutions that bring some degree of satisfaction to all parties in order to temporarily or partially resolve the conflict. This is generally a lose-lose situation. -Force/direct: Pushing one's viewpoint at the expense of others; offering only win-lose solutions, usually enforced through a power position. This is often a win-lose situation. -Collaborate/problem solve: Incorporating multiple viewpoints and insights from differing perspectives; requires a cooperative attitude and open dialogue. This approach can result in a win-win station. While similar to smooth/accommodate, the conflict management technique being used in this scenario is collaborate/problem solve. Collaborate/problem solve is the technique used to get to the root of an issue so that it will lead to consensus and commitment. All of the following are true about project phases and the project life cycle EXCEPT: A. Stakeholder influences, risk, and uncertainty are greatest at the start of the project. These factors decrease over the life of the project. B. The ability to influence the final characteristics of the project's product, without significantly impacting cost, is highest at the start of the project and decreases as the project progresses toward completion. C. The cost of changes and correcting errors typically increases substantially as the project approaches completion. D. Cost and staffing levels are generally steady throughout the project life cycle. - CORRECT ANSWER D. Cost and staffing levels are generally steady throughout the project life cycle. - Characteristics of the Project Life Cycle Project life cycles can be predictive or adaptive within a project life cycle, there are generally one or more pin phases that are associated with the development of the product service, or result. These are called a development life cycle. Development life cycles can be predictive, iterative, incremental, adaptive, or a hybrid model Explanation here is only provided for predictive and iterative life cycles. In a predictive life cycle, the project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed Predictive life cycles may also be referred to as waleil.tll life cycles. In an iterative life cycle, the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team's understanding of the product increases Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of the product. While project cost and staffing levels can be steady, for larger and complex projects, costs and staffing levels an subject to change and therefore not likely to be steady throughout the project life cycle . What is the key benefit of the Direct and Manage Project Work process? A. Production of a comprehensive document that defines the basis of all project work and how the work will be performed B. Prior organizational knowledge is leveraged to produce or improve the project outcomes C. Provides overall management of the project work and deliverables D. Provides a direct link between the project and the strategic objectives of the organization - CORRECT ANSWER C. Provides overall management of the project work and deliverables - The key benefit of the Direct and Manage Project Work process is that it provides overall management of the project work and deliverables. Which conflict resolution technique is being used in the scenario below? "I know that all of you keep telling me we need to hire two additional employees in order to get the work done in a timely manner; however, | am not going to do it, and that is my final decision." A. Compromise/reconcile B. Collaborate/problem solve C. Force/direct D. Withdraw/avoid - CORRECT ANSWER C Force/direct - There are five general techniques for resolving conflict. Each technique has its unique place and use: - Withdraw/avoid: Retreating from an actual or potential conflict situation; postponing the issue to be better prepared or to be resolved by others. - Smooth/accommodate: Highlighting areas of agreement rather than areas of difference; conceding one's position to the needs of others to maintain harmony. -Compromise/reconcile: Searching for solutions that bring some degree of satisfaction to all parties in order to temporarily or partially resolve the conflict. This is generally a lose-lose situation. -Force/direct: Pushing one's viewpoint at the expense of others; offering only win-lose solutions, usually enforced through a power position. This is often a win-lose situation. -Collaborate/problem solve: Incorporating multiple viewpoints and insights from differing perspectives; requires a cooperative attitude and open dialogue. This approach can result in a win-win station. The conflict resolution technique being used in this scenario is force/direct, which is used to force one person's viewpoint to the detriment of the viewpoints of others. What is the definition of the Manage Communications process? A. Developing an appropriate approach and plan for project communication activities based on the information needs of each stakeholder or group, available organizational assets, and the needs of the project B. Developing approaches to involve project stakeholders based on the project's communication program C. Ensuring the information needs of the project and its stakeholders are met deliverables, assumptions, and constraints. The project scope statement documents the entire scope, including project and product scope. It describes the project's deliverables in detail. It also provides a common understanding of the project scope among project stakeholders. It may contain explicit scope exclusions that can assist in managing stakeholder expectations. It enables the project team to perform more detailed planning, guides the project team's work during execution, and provides the baseline for evaluating whether requests for changes or additional work are contained within or outside the project's boundaries. The degree and level of detail to which the project scope statement defines the work that will be performed and the work that is excluded can help determine how well the project management team can control the overall project scope. The detailed project scope statement, either directly or by reference to other documents, includes the following: o Product scope description. Progressively elaborates the characteristics of the product, service, or result described in the project charter and requirements documentation. o Deliverables. Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project. Deliverables also include ancillary results, such as project management reports and documentation. These deliverables may be described at a summary level or in great detail. o Acceptance criteria. A set of conditions that is required to be met before deliverables are accepted. o Project exclusions. Identify what is excluded from the project; explicitly stating what is out of scope for the project hel Which of these is not one of the tools and techniques recommended in the Control Schedule process? A. Performance Reviews B. Monte Carlo Simulation C. Variance Analysis D. Schedule Compression - CORRECT ANSWER B. Monte Carlo Simulation - Monte Carlo Simulation Tools and technique used in the Control Schedule process include: -Data Analysis Techniques (earned value analysis, iteration burndown chart, performance reviews, trend analysis, variance analysis, what-if scenario analysis) -Critical Path Method -Resource Optimization -Leads and Lags -Schedule Compression Monte Carlo Simulation is a Quantitative Risk Analysis technique used during the Perform Quantitative Risk Analysis process. It uses optimistic, most likely, and pessimistic estimates to determine the total project cost and project completion dates. For example, you could estimate the probability of completing a project at a cost of $20 million. Or what if a company wanted to have an 80% probability of achieving its cost objectives. What is the cost to achieve 80%? The buyer structures procurement documents, which include all of the following EXCEPT : A. Procurement statement of work. B. Bid documents. C. Source selection criteria and independent cost estimates. D. Control procurement documents. - CORRECT ANSWER D. Control procurement documents. - Procurement documentation provides a written record used in reaching the legal agreement, and may include older documents predating the current project. Procurement documentation can include the following: o Bid Documents. procurement documents include the RFI, RFP, RFQ, or other documents sent to sellers so they can develop a bid response. o Procurement statement of work. the procurement statement of work (SOW) provides sellers with a clearly stated set of goals, requirements, and outcomes from which they can provide a quantifiable response. o Independent cost estimates. independent cost estimates are developed either internally or by using external resources and provide a reasonableness check against the proposals submitted by bidders. o Source selection criteria. these criteria describe how bidder proposals will be evaluated, including evaluation criteria and weights. For risk mitigation, the buyer may decide to sign agreements with more than one seller to mitigate damage caused by a single seller having problems that impact the overall project. Which statement below BEST describes Tailoring ? A. Project documents that describe the activities used to determine if the product meets the quality objectives stated in the quality management plan. B. A component of the resource management plan that describes when and how team members will be acquired and how long they will be needed. C. Determining the appropriate combination of processes, inputs, tools, techniques, outputs, and life cycle phases to manage a project. D. A partially complete document in a predefined format that provides a defined structure for collecting, organizing, and presenting information and data. - CORRECT ANSWER C. Determining the appropriate combination of processes, inputs, tools, techniques, outputs, and life cycle phases to manage a project. - Determining the appropriate combination of processes, inputs, tools, techniques, outputs, and life cycle phases to manage a project.