The application of knowledge, skills, tools, and techniques to project activities to meet project requirements describes management of which of the following?
A. Project
B. Scope
C. Contract
D. Program
Correct Answer: A
Explanation:
1.3 What is Project Management?Project management is the application of knowledge, skills, tools, and techniques to projectactivities to meet the project requirements. Project management is accomplished through the appropriate application and integration of the 47 logically grouped project management processes, which are categorized into fve Process Groups. These five Process Groups are:
Initiating,
Planning,
Executing,
Monitoring and Controlling, and
Closing.
Question 742:
Which baselines make up the performance measurement baseline?
A. Scope baseline, cost baseline, and schedule baseline
B. Scope baseline, project management baseline, and quality baseline
C. Cost baseline, schedule baseline, and risk baseline
D. Cost baseline, project management baseline, and schedule baseline
Correct Answer: A
Explanation:
Performance Measurement Baseline (PMB). An approved, integrated scope-schedule-cost plan for
the project work against which project execution is compared to measure and manage performance. The
PMB includes contingency reserve, but excludes management reserve.
Question 743:
The technique of subdividing project deliverables into smaller, more manageable components until the work and deliverables are defined to the work package level is called:
A. a control chart.
B. baseline.
C. Create WBS.
D. decomposition.
Correct Answer: D
Explanation:
5.4.2.1 Decomposition
Decomposition is a technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts. The work package is the work defined at the lowest level of the WBS for which cost and duration can be estimated and managed. The level of decomposition is often guided by the degree of control needed to effectively manage the project. The level of detail for work packages will vary with the size and complexity of the project. Decomposition of the total project work into work packages generally involves the following activities:
Identifying and analyzing the deliverables and related work;
Structuring and organizing the WBS;
Decomposing the upper WBS levels into lower-level detailed components;
Developing and assigning identification codes to the WBS components; and
Verifying that the degree of decomposition of the deliverables is appropriate.
Question 744:
Which of the following is an output of the Conduct Procurements process?
A. Project statement of work
B. Selected sellers
C. Risk register updates
D. Teaming agreements
Correct Answer: B
Explanation:
12.2.3.1 Selected Sellers
The selected sellers are those who have been judged to be in a competitive range based upon the outcome of the proposal or bid evaluation, and who have negotiated a draft contract that will become the actual contract when an award is made. Final approval of all complex, high-value, high-risk procurements will generally require organizational senior management approval prior to award.
Process: 12.2 Conduct Procurements Definition: The process of obtaining seller responses, selecting a seller, and awarding a contract. Key Benefit: The key benefit of this process is that it provides alignment of internal and external stakeholder expectations through established agreements.
Inputs
1.
Procurement management plan
2.
Procurement documents
3.
Source selection criteria
4.
Seller proposals
5.
Project documents
6.
Make-or-buy decisions
7.
Procurement statement of work
8.
Organizational process assets
Tools and Techniques
1.
Bidder conference
2.
Proposal evaluation techniques
3.
Independent estimates
4.
Expert judgment
5.
Advertising
6.
Analytical techniques
7.
Procurement negotiations
Outputs
1.
.Selected sellers
2.
.Agreements
3.
.Resource calendars
4.
.Change requests
5.
.Project management plan updates
6.
.Project documents updates
Question 745:
The three processes of Project Cost Management are:
A. Estimate Costs, Control Schedule, and Control Costs.
B. Estimate Costs, Determine Budget, and Estimate Activity Resources.
C. Determine Budget, Control Schedule, and Estimate Activity Resources.
D. Estimate Costs, Determine Budget, and Control Costs.
Correct Answer: D
Explanation:
7. Project Cost Management
7.1 Plan Cost Management
7.2 Estimate Costs
7.3 Determine Budget
7.4 Control Costs
Question 746:
Which risk response strategy is common for both positive and negative risks?
A. Share
B. Accept
C. Mitigate
D. Transfer
Correct Answer: B
Question 747:
Risk responses reflect an organization's perceived balance between:
A. risk taking and risk avoidance.
B. known risk and unknown risk.
C. identified risk and analyzed risk.
D. varying degrees of risk.
Correct Answer: A
Question 748:
After Define Activities and Sequence Activities, the next process is:
A. Estimate Activity Resources.
B. Estimate Activity Durations.
C. Develop Schedule.
D. Control Schedule.
Correct Answer: A
Explanation:
6. Project Time Management
6.1 Plan Schedule Management
6.2 Define Activities
6.3 Sequence Activities
6.4 Estimate Activity Resources
6.5 Estimate Activity Durations
6.6 Develop Schedule
6.7 Control Schedule
Question 749:
The correct equation for schedule variance (SV) is earned value:
A. minus planned value [EV - PV].
B. minus actual cost [EV - AC].
C. divided by planned value [EV/PV],
D. divided by actual cost [EV/AC].
Correct Answer: A
Explanation:
• Schedule variance. Schedule variance (SV) is a measure of schedule performance expressed as the difference between the earned value and the planned value. It is the amount by which the project is ahead or behind the planned delivery date, at a given point in time. It is a measure of schedule performance on a project. It is equal to the earned value (EV) minus the planned value (PV). The EVM schedule variance is a useful metric in that it can indicate when a project is falling behind or is ahead of its baseline schedule. The EVM schedule variance will ultimately equal zero when the project is completed because all of the planned values will have been earned. Schedule variance is best used in conjunction with critical path method (CPM) scheduling and risk management. Equation: SV = EV – PV
Question 750:
Which of the following is an output of Define Scope?
A. Project scope statement
B. Project charter
C. Project plan
D. Project schedule
Correct Answer: A
Explanation:
Process: 5.3 Define Scope
Definition: The process of developing a detailed description of the project and product.
Key Benefit: The key benefit of this process is that it describes the product, service, or result boundaries
by defining which of the requirements collected will be included in and excluded from the project scope.
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