PMI CAPM PMI-100 Questions & Answers

• Question 481:

  The Project Management Process Group in which performance is observed and measured regularly from project initiation through completion is:

  A. Executing.

  B. Initiating,

  C. Monitoring and Controlling.

  D. Planning.

  Correct Answer: C

• Question 482:

  Which of the following are outputs of Develop Project Team?

  A. Human resources plan changes and project staff assignment updates

  B. Project management plan updates and enterprise environmental factor updates

  C. Resource calendars and project management plan updates

  D. Team performance assessments and enterprise environmental factor updates

  Correct Answer: D

  Explanation:

  Process: 9.3 Develop Project TeamDefinition: The process of improving competencies, team member interaction, and overall team environment to enhance project performance. Key Benefit: The key benefit of this process is that it results in improved teamwork, enhanced people skills and competencies, motivated employees, reduced staff turnover rates, and improved overall project performance.

  Inputs

  1.

  Human resource management plan

  2.

  Project staff assignments

  3.

  Resource calendars

  Tools and Techniques

  1.

  Interpersonal skills

  2.

  Training

  3.

  Team-building activities

  4.

  Ground rules

  5.

  Colocation

  6.

  Recognition and rewards

  7.

  Personnel assessment tools

  Outputs

  1.

  Team performance assessments

  2.

  Enterprise environmental factors updates

• Question 483:

  Which type of estimating is used to improve the accuracy of an activity's duration?

  A. Analogous

  B. Parametric

  C. Three-point

  D. What-if scenario analysis

  Correct Answer: C

  Explanation:

  6.5.2.4 Three-Point EstimatingThe accuracy of single-point activity duration estimates may be improved by consideringestimation uncertainty and risk. This concept originated with the program evaluation and review technique (PERT). PERT uses three estimates to define an approximate range for an activity's duration:

  Most likely (tM). This estimate is based on the duration of the activity, given the resources likely to be assigned, their productivity, realistic expectations of availability for the activity, dependencies on other participants, and interruptions.

  Optimistic (tO). The activity duration based on analysis of the best-case scenario for the activity.

  Pessimistic (tP). The activity duration based on analysis of the worst-case scenario for the activity. Depending on the assumed distribution of values within the range of the three estimates the expected duration, tE, can be calculated using a formula. Two commonly used formulas are triangular and beta distributions.

  The formulas are:

  

  Triangular Distribution. tE = (tO + tM + tP) / 3 Beta Distribution (from the traditional PERT technique). tE = (tO + 4tM + tP) / 6

  Duration estimates based on three points with an assumed distribution provide an expected duration and clarify the range of uncertainty around the expected duration.

• Question 484:

  How many Project Management Process Groups are there?

  A. 3

  B. 4

  C. 5

  D. 6

  Correct Answer: C

  Explanation:

  1.

  Initiating Process Group

  2.

  Planning Process Group

  3.

  Executing Process Group

  4.

  Monitoring and Controlling Process Group

  5.

  Closing Process Group

• Question 485:

  The definition of operations is a/an:

  A. organizational function performing the temporary execution of activities that produce the same product or provide repetitive service.

  B. temporary endeavor undertaken to create a unique product, service, or result.

  C. organization that provides oversight for an administrative area.

  D. organizational function performing the ongoing execution of activities that produce the same product or provide repetitive service.

  Correct Answer: D

• Question 486:

  To please the customer, a project team member delivers a requirement which is uncontrolled. This is not part of the plan. This describes:

  A. scope creep.

  B. a change request.

  C. work performance information.

  D. deliverables.

  Correct Answer: A

• Question 487:

  The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline is:

  A. Determine Budget.

  B. Baseline Budget.

  C. Control Costs.

  D. Estimate Costs.

  Correct Answer: A

  Explanation:

  7.3.3.1 Cost Baseline The cost baseline is the approved version of the time-phased project budget, excluding any management reserves, which can only be changed through formal change control procedures and is used as a basis for comparison to actual results. It is developed as a summation of the approved budgets for the different schedule activities.

  Process: 7.3 Determine Budget Definition: The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.

  Key Benefit: The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled. Inputs

  1.

  Cost management plan

  2.

  Scope baseline

  3.

  Activity cost estimates

  4.

  Basis of estimates

  5.

  Project schedule

  6.

  Resource calendars

  7.

  Risk register

  8.

  Agreements

  9.

  Organizational process assets

  Tools and Techniques

  1.

  Cost aggregation

  2.

  Reserve analysis

  3.

  Expert judgment

  4.

  Historical relationships

  5.

  Funding limit reconciliation

  Outputs

  1.

  Cost baseline

  2.

  Project funding requirements

  3.

  Project documents updates

• Question 488:

  Which type of agreement is legal, contractual, and between two or more entities to form a partnership, joint venture, or some other arrangement as defined by the parties?

  A. Teaming

  B. Collective bargaining

  C. Sharing

  D. Working

  Correct Answer: A

• Question 489:

  Which Process Group contains those processes performed to define a new project?

  A. Initiating

  B. Planning

  C. Executing

  D. Closing

  Correct Answer: A

• Question 490:

  The risk management team of a software project has decided that due to the lack of adequate talent in the company, development of a specific part of the system is under high risk, so the team has decided to outsource it. This is an example of which risk response?

  A. Transfer

  B. Share

  C. Avoid

  D. Accept

  Correct Answer: A

  Explanation:

  11.5.2.1 Strategies for Negative Risks or Threats Three strategies, which typically deal with threats or risks that may have negative impacts on project

  

  objectives if they occur, are: avoid, transfer, and mitigate. The fourth strategy, accept, can be used for negative risks or threats as well as positive risks or opportunities. Each of these risk response strategies have varied and unique influence on the risk condition. These strategies should be chosen to match the risk's probability and impact on the project's overall objectives. Avoidance and mitigation strategies are usually good strategies for critical risks with high impact, while transference and acceptance are usually good strategies for threats that are less critical and with low overall impact. The four strategies for dealing with negative risks or threats are further described as follows:

  Avoid. Risk avoidance is a risk response strategy whereby the project team acts to eliminate the threat or protect the project from its impact. It usually involves changing the project management plan to eliminate the threat entirely. The project manager may also isolate the project objectives from the risk's impact or change the objective that is in jeopardy. Examples of this include extending the schedule, changing the strategy, or reducing scope. The most radical avoidance strategy is to shut down the project entirely. Some risks that arise early in the project can be avoided by clarifying requirements, obtaining information, improving communication, or acquiring expertise.

  Transfer. Risk transference is a risk response strategy whereby the project team shifts the impact of a threat to a third party, together with ownership of the response. Transferring the risk simply gives another party responsibility for its management—it does not eliminate it. Transferring does not mean disowning the risk by transferring it to a later project or another person without his or her knowledge or agreement. Risk transference nearly always involves payment of a risk premium to the party taking on the risk. Transferring liability for risk is most effective in dealing with financial risk exposure. Transference tools can be quite diverse and include, but are not limited to, the use of insurance, performance bonds, warranties, guarantees, etc. Contracts or agreements may be used to transfer liability for specified risks to another party. For example, when a buyer has capabilities that the seller does not possess, it may be prudent to transfer some work and its concurrent risk contractually back to the buyer. In many cases, use of a cost-plus contract may transfer the cost risk to the buyer, while a fixed-price contract may transfer risk to the seller.

  Mitigate. Risk mitigation is a risk response strategy whereby the project team acts to reduce the probability of occurrence or impact of a risk. It implies a reduction in the probability and/or impact of an adverse risk to be within acceptable threshold limits. Taking early action to reduce the probability and/or impact of a risk occurring on the project is often more effective than trying to repair the damage after the risk has occurred. Adopting less complex processes, conducting more tests, or choosing a more stable supplier are examples of mitigation actions. Mitigation may require prototype development to reduce the risk of scaling up from a bench-scale model of a process or product. Where it is not possible to reduce probability, a mitigation response might address the risk impact by targeting linkages that determine the severity. For example, designing redundancy into a system may reduce the impact from a failure of the original component.

  Accept. Risk acceptance is a risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs. This strategy is adopted where it is not possible or cost-effective to address a specific risk in any other way. This strategy indicates that the project team has decided not to change the project management plan to deal with a risk, or is unable to identify any other suitable response strategy. This strategy can be either passive or active. Passive acceptance requires no action except to document the strategy, leaving the project team to deal with the risks as they occur, and to periodically review the threat to ensure that it does not change significantly. The most common active acceptance strategy is to establish a contingency reserve, including amounts of time, money, or resources to handle the risks.