CAPM Practice Test 100 Questions with Verified Answers,100% CORRECT, Exams of Business Economics

Download CAPM Practice Test 100 Questions with Verified Answers,100% CORRECT and more Exams Business Economics in PDF only on Docsity! CAPM Practice Test 100 Questions with Verified Answers When is the Plan Risk Management process performed in a project? - CORRECT ANSWER Once or at predefined points in a project. Understanding, evaluating, defining, and managing requirements are essential to satisfying: - CORRECT ANSWER Customer satisfaction Projects are undertaken to fulfill objectives by: - CORRECT ANSWER Producing deliverables Which of the following is an input to the sequence activities process? A. Cost baseline B. Performance measurement baseline C. Scope baseline D. Schedule baseline - CORRECT ANSWER Scope baseline When managing a global project, you are likely to consult the WBS dictionary to find: - CORRECT ANSWER detailed deliverable, activity, and scheduling information about each component in the WBS. All of the following are potential information in organizational knowledge repositories except: A. List of employees B. Metrics used to collect and make available measurement data on processes and products C. Configuration management D. Issue and defect management data - CORRECT ANSWER List of employees? Which of the following is an input of the Plan Risk Management Process? A. Work performance reports B. Procurement documentation C. Work performance data D. Project charter - CORRECT ANSWER Project charter Which of the following is an output to the Define Activities Process? A. Duration Estimates B. Schedule network diagram C. Change requests D. Project Schedule - CORRECT ANSWER Change requests Addressing any 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? - CORRECT ANSWER Manage Stakeholder Engagement Which of the following is an output of the Monitor Communications Process? A Project charter updates B Work performance information C EEF updates D Project communications - CORRECT ANSWER Work performance information All of the following are inputs to the Estimate Activity Resources process EXCEPT: A resource management plan B EEFs C Resource breakdown structure (RBS) D Activity list - CORRECT ANSWER Resource breakdown structure (RBS) Each of the following is true about Project Stakeholder Management EXCEPT: A. To increase the chances of success, stakeholder identification and engagement should commence as soon as possible after the project charter has been approved. B. Failure to manage and control physical resources efficiently may reduce the chance of completing the project successfully. C. The ability of the PM and team to correctly identify and engage all stakeholders can mean the difference between success and failure. D. Some stakeholders may have a limited ability to influence the projects work or outcomes; others may have significant influence. - CORRECT ANSWER B. Failure to manage and control physical resources efficiently may reduce the chance of completing the project successfully. Which of the following is a tool/technique to the Control Schedule process? amounts to account for identified risks and management reserve to cover unplanned work? A. Budget estimates B. Duration estimates C. Parametric estimates D. Cost estimates - CORRECT ANSWER Cost estimates A documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities is which of the following? A. project life cycle B. business case C. portfolio management plan D. benefits management plan - CORRECT ANSWER Business case What is three point estimating? - CORRECT ANSWER Three point estimates help define an approximate range for an activities duration using (1) Most likely (tM) duration estimate; (2) Optimistic (tO) duration estimate based on analysis of the best case scenario; and (3) Pessimistic (tP) duration estimate based on the worst case scenario. Leveraging prior knowledge to improve outcomes and making knowledge created available for future projects is a key benefit of which of the following Integration management processes? A. Develop PM Plan B. Control Project knowledge C. Manage project knowledge D. Develop project charter - CORRECT ANSWER Manage project knowledge What can be formal or informal, is used if project team members lack the necessary management or technical skills where the skills can be developed as part of the project work, and the costs can be included in the project budget if the added skills may be useful for future projects? This does NOT include all activities designed to enhance competencies of the project team members. - CORRECT ANSWER Training What is the description of the Monitoring and Controlling Process Group? - CORRECT ANSWER The processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes (REMEMBER THE CHANGE PART!!!!!!) Each of the following is true of project schedule management EXCEPT: A. it should remain flexible throughout the project, to adjust for various factors like knowledge gained, and value-added activities. B. It is a detailed plan that represents how and when the project will deliver the products, services, and results defined in the project scope. C. It may require project managers to be familiar with sampling, including attribute sampling and variable sampling. D. It is used as a tool for communication, managing stakeholder expectations, and a basis for performing reporting. - CORRECT ANSWER It may require project managers to be familiar with sampling, including attribute sampling and variable sampling Which of the following is an output to the Define Activities Process - CORRECT ANSWER ??? All of the following are potential information in organizational knowledge repositories EXCEPT: A. Configuration management B. Metrics used to collect and make available measurement data on processes and products C. Issue and defect management data D. List of employees - CORRECT ANSWER List of employees Tools and techniques of the perform Quantitative Risk Analysis process include: - CORRECT ANSWER expert judgement, data gathering (interviews), interpersonal and team skills (facilitation), representations of uncertainty, data analysis (simulations, sensitivity analysis, decision tree, influence diagrams). What is a tool and technique of the Develop Schedule Process? A. Precedence diagramming method B. Leads and lags C. Analogous estimating D. Rolling wave planning - CORRECT ANSWER Leads and lags Which of the following is an input to the Plan Schedule Management process? A. Scope management plan B. Requirements management plan C. Configuration management plan D. Stakeholder engagement plan - CORRECT ANSWER Scope management plan What is used to consider the effectiveness of the risk management process? - CORRECT ANSWER Risk audits Which of the following processes is included in Project Integration Management? A. Control Issue and Defect Management B. Develop Project charter C. Approve change requests D. Facilitate meeting management - CORRECT ANSWER Develop project charter What are the tools/techniques used in the manage communications process? - CORRECT ANSWER expert judgement, PMIS, data representation, interpersonal and team skills, and meetings Which is an input to the Estimate Activity Resources process? A. basis of estimates B. bottom up estimating C. PMIS D. Risk register - CORRECT ANSWER Risk register- a project document What influences the factors that create changes to the authorized cost baseline, monitor cost performance to isolate and understand variances from the approved cost baseline; monitor work performance against funds expended; prevent unapproved changes from being included in the reported cost or resource usage; informing appropriate stakeholders of all approved changes and associated cost; and brings expected cost overruns within acceptable limits? - CORRECT ANSWER Project cost control Which is a tool or technique for the Validate scope process? A. Interpersonal and team skills B. Meetings C. Data gathering D. Knowledge management - CORRECT ANSWER Meetings What are affinity diagrams? - CORRECT ANSWER They organize potential causes of defects into groups showing areas that should be focused on the most. They are a technique that allows large numbers of ideas to be classified into groups for review and analysis. What is a tool and technique of plan scope management? - CORRECT ANSWER expert judgement, data analysis (alternative analysis), meetings What process involves leading and performing the work defined in the project management plan and implementing approved changes to achieve the projects objectives? - CORRECT ANSWER Perform integrated change control What input to the manage quality process may influence quality assurance work and should be monitored within the context of a configuration management system? - CORRECT ANSWER Quality management plan Control Scope is the process of monitoring the status of the project and what? - CORRECT ANSWER Product scope and changes to the scope baseline What are the outputs of the control quality process associated with the project quality management knowledge area? - CORRECT ANSWER Work performance information What are examples of source selection criteria? - CORRECT ANSWER the buyer seeks to ensure that the proposal selected will offer the best quality for the services required. The source selection criteria includes: capability and capacity, product cost and life cycle cost, delivery dates, technical expertise and approach, ans specific relevant experience. What are tailoring considerations for Project integration management? - CORRECT ANSWER Project life cycle, development life cycle, management approaches, knowledge management, change, governance, lessons learned, and benefits All of the following are inputs to the plan procurement management process EXCEPT: A. EEFs B. Procurement strategy C. Business documents D. Project charter - CORRECT ANSWER Procurement strategy Which of the following are included in the risk management plan? A. risk categories and individual managements B. Sponsor goals and timing C. Methodology, funding, and timing D. Individual managements, funding, and responsibilities - CORRECT ANSWER methodology, funding and timing Three dimensions of complexity: - CORRECT ANSWER System behavior, human behavior, and the uncertainty at work in the org or its environment (ambiguity) Your earned value management analysis indicates that your project is falling behind its baseline schedule. You know this because the cumulative EV is much: - CORRECT ANSWER Lower than the cumulative PV What is an output of the perform qualitative risk analysis process? - CORRECT ANSWER project doc updates (assumption log, issue log, risk register, risk report) As part of the comms. model the sender is responsible for: - CORRECT ANSWER the transmission of the message, and ensuring the information being communicated is clear and complete and confirming the message is correctly interpreted. Agreements and procurement documentation are inputs to which process associated with project risk management? - CORRECT ANSWER Identify risks What are the four inputs of Estimate Activity Durations? - CORRECT ANSWER Project management plan, project documents, eefs, opas Which resource optimization technique adjusts the start and finish dates based on resource constraints? - CORRECT ANSWER Resource leveling. Which is true about programs? A. A program is a large project B. A program is not a large project C. A program is only sometimes a large project D. A portfolio is a large project - CORRECT ANSWER a program is not a large project (CTC Program) What is SPI (Schedule performance index)? - CORRECT ANSWER When you use EV/PV to analyze the projects actual progression rate against its planned progression rate. What contains complete supporting records for the administration of the procurement process? - CORRECT ANSWER Procurement documents Agreements are an output of which of the following processes? A. Control procurements B. Plan procurements C. Manage communications D. Conduct procurements - CORRECT ANSWER Conduct procurements Explanation: 6 outputs of conduct procurements 1. Selected sellers 2. agreements 3. change requests 4. project management plan updates 5. project document updates 6. OPA updates To operate effectively and efficiently the PM needs to understand where which of the following resides within the organization? - CORRECT ANSWER Responsibility, accountability, and authority Which of the following is NOT included on the risk register during the identify risk process? Which of the following is not an example of an expert judgement source for the develop project charter process? Consultants Policies and processes stakeholders industry groups - CORRECT ANSWER policies and procedures Explanation: This is an example of an OPA Which earned value analysis technique measures the cost of completing the remaining work against the remaining budget? - CORRECT ANSWER TCPI Explanation: TCPI is the To Complete Performance index used to measure the cost performance that must be achieved with the remaining resources in order to meet a specified management goal expressed as the ratio of the cost to finish the outstanding work to the budget available. TCPI = (BAC-EV)/(BAC-AC) TCPI > 1.0 is harder to complete TCPI = 1.0 is same to complete TCPI < 1.0 is easier to complete What is a form of power that PMs can use to influence people and get things done? - CORRECT ANSWER Situational and persuasive What is used to group stakeholders by their qualifications? - CORRECT ANSWER Stakeholder mapping/ representation Explanation: This includes the following = power/interest grid power/influence grid influence/impact grid stakeholder cube salience model directions of influence prioritization What is the key benefit of the manage communications process? - CORRECT ANSWER it enables efficient and effective communication flow between project stakeholders A key tool or technique of control procurement is: - CORRECT ANSWER claims administration Which is an output of the plan scope management plan? Requirements traceability matrix Requirements management plan Stakeholder engagement plan Scope baseline - CORRECT ANSWER Requirements management plan Termination of a contract is a special case of procurement closure that can result from any EXCEPT which of the following reasons? Default of one party Mutual agreement of both parties Convenience of the seller Convenience of the buyer - CORRECT ANSWER Convenience of the seller Explanation: The termination of a contract is a special case of procurement closure that can result from a mutual agreement, the default of one party, or the convenience of the buyer. What is "payback period"? - CORRECT ANSWER The length of time required to recoup the cost of a project The Responsibility Assignment Matrix (RAM) is: - CORRECT ANSWER Illustrates the connection between work packages or activities and project team members. It ensures that there is only one person accountable for each. What is an input to the Development Project Charter Process? - CORRECT ANSWER Agreements Constructive Changes are: - CORRECT ANSWER Requested but unresolved changes can include direction provided by the buyer or actions taken by the seller, which the other party considers as a constructive change to the contract. The stakeholder engagement plan is updated regularly to reflect changes to the stakeholder community. Which of the following is NOT a trigger that would signify an update should be made? - CORRECT ANSWER Trigger situations: -When it is the start of a new phase of the project -When there are changes to the org structure or within the industry -When new individuals or groups become stakeholders - Current state-holders are no longer part of the stakeholder community - The importance of particular stakeholder to the project success changes - When outputs of other projects process areas Leveraging prior knowledge to improve outcomes and making knowledge created available for future projects is a key benefit of which of the following project Integration management process? - CORRECT ANSWER x All legal contractual relationships generally fall into one of the following broad categories EXCEPT - CORRECT ANSWER Request for Proposal (RFP), everything else has a contract