PMI PMI Certification PMI-SP Questions & Answers

• Question 41:

  You are the project manager for the NHQ project. The management has reminded you that you must not allocate any project team member for more than 25 hours per work week on your project. This policy is because your organization is in a weak matrix and the project team members are on several projects at once within the organization. The 25-hour limit per resource is an example of which one of the following?

  A. Expert judgment

  B. Enterprise environmental factor

  C. Resource limitation

  D. Organizational process asset

  Correct Answer: B

  The limit on each work is an organizational policy for each project. Policies, rules, and organizational requirements are the enterprise environmental factors.

  Answer option D is incorrect. Organizational process assets are things that have been created for the project manager, such as software, templates, guidelines, and other resources that will assist the project manager in completing the

  project.

  Answer option C is incorrect. While this could be a resource limitation, it is not a valid project management term. Resource leveling heuristics or a project constraint would have been acceptable answers. Answer option A is incorrect. Expert

  judgment happens, when the project manager relies on someone with more knowledge on a topic to help the project manager make the best project decision.

• Question 42:

  You are the project manager for your organization. Your current project has a schedule variance of - $37,500 and a schedule performance index of 0.94. What do these values mean in regard to project performance?

  A. Your project is likely to be late and over budget.

  B. Your project is performing well.

  C. Your project has a planned value of $600,000.

  D. Your project is six percent off schedule and has a considerable schedule variance.

  Correct Answer: D

  A schedule variance is found by subtracting the planned value from the earned value. A -$37,500 schedule variance is considerable for most projects, but combined with a schedule that is six percent off schedule is more serious. The size of the project, however, and the defined project budget, needs to be determined to evaluate how serious the variance is. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target. Answer option B is incorrect. This project is not performing well based on the given information. Answer option A is incorrect. This project is likely to be late, but we do not know how costs are performing in this question. Answer option C is incorrect. There is not enough information to determine how well the project is performing from this answer.

• Question 43:

  You are the project manager of the GHY Project. This project is scheduled to last for one year and has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are up posed to be at your second milestone which accounts for half of the project completion. There have been some errors in the project which has caused you to spend $2,073,654. What is this project's schedule variance?

  A. 10 percent

  B. -$48,654

  C. -$225,000

  D. 0.98

  Correct Answer: C

  The schedule variance can be found by subtracting the planned value from the earned value. In this instance, it is $2,025,000 minus $2,250,000. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target. Answer option B is incorrect. This is the cost variance for the project. Answer option A is incorrect. 10 percent is not a valid answer. Answer option D is incorrect. This is not a valid variance for this question; variances are typically negative numbers.

• Question 44:

  You are the project manager for your organization. You have recently noted some risks associated with some of the activities in your project. These risks can have schedule and costs impacts on your project and you need to address the risks through qualitative and quantitative analysis to confirm the depth of possible impact. Where should you document the risk information concerning the activities in your project schedule?

  A. Risk management plan

  B. Schedule management plan

  C. Risk register

  D. Activity attributes

  Correct Answer: C

  The project risks are documented in the risk register - including the probability and impact information. The risk register is an output of the Identify Risks process. Risk register is a document that contains the results of the qualitative risk

  analysis, quantitative risk analysis, and risk response planning. Description, category, cause, probability of occurring, impact on objectives, proposed responses, owner, and the current status of all identified risks are put in the risk register.

  Answer option A is incorrect. The risk management plan addresses that how risks will be identified, monitored, and controlled. Answer option D is incorrect. The activity attributes information is needed, but risks are not part of the activity

  attributes.

  Answer option B is incorrect. The schedule management plan addresses how the schedule will be created, executed, and controlled.

• Question 45:

  Jeff is the project manager of the GHY Project for his organization. He has created the project network diagram as shown in the figure:

  

  Management is reviewing the network diagram, and they are concerned about the latest date that Activity I can finish. What is the latest day Activity I can finish without affecting the project end date?

  A. Day 20

  B. Day 22

  C. Day 17

  D. Day 19

  Correct Answer: B

  Activity I must finish by Day 22, so that Activity J can start by Day 23. If Activity I finishes later than Day 22, the project will be late.

  Answer option D is incorrect. Day 19 is the earliest Activity I can finish. Answer option A is incorrect. Day 20 is the latest Activity I can start. Answer option C is incorrect. Day 17 is the earliest Activity I can start.

• Question 46:

  You are the project manager of the NHA Project. This project is expected to last one year with quarterly milestones throughout the year. Your project is supposed to be at the third milestone today, but you are likely to be only 60 percent complete. Your project has a BAC of $745,000 and you have spent $440,000 of the budget-to-date. What is your schedule variance for this project?

  A. $11,667

  B. 1.02

  C. $7,000

  D. $-111,750

  Correct Answer: D

  The schedule variance is found by subtracting the planned value from the earned value. In this instance, it is $447,000 minus $558,750. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that

  the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that

  the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

  Answer option C is incorrect. $7,000 is the cost variance for this project. Answer option A is incorrect. $11,667 is the variance at completion for this project. Answer option B is incorrect. 1.02 is the cost performance index for this project.

• Question 47:

  You are the project manager of the NHQ project. Your project has a budget of $1,258,456, and is scheduled to last for three years. Your project is currently forty percent complete though it should be forty- five percent complete. In order to reach this point of the project, you have spent $525,000. Management needs a performance report regarding the NHQ project. Management is concerned that this project will be over budget upon completion. Management would like to create a report telling them how much more the project will need to complete. What value should you tell management?

  A. $566,305

  B. $787,504

  C. $1,312,504

  D. $733,456

  Correct Answer: B

  The project will need $787,504 more to complete. This formula, the estimate to complete, is estimate at completion minus the actual costs. Here, CPI = EV/AC =(0.40*1,258,456)/525000= 0.95882, and ETC = EAC - AC = (BAC/CPI) - AC =(1,258,456/0.95882) - 525000 = 1,312,504- 525000 = 787,504 The estimate to complete (ETC) is the expected cost needed to complete all the remaining work for a scheduled activity, a group of activities, or the project. ETC helps project managers predict what the final cost of the project will be upon completion. The formula for the ETC is EAC- AC. The EAC is BAC/CPI. Answer option C is incorrect. This is the estimate at completion. Answer option A is incorrect. This is the planned value. Answer option D is incorrect. This is not a valid value based on the current project performance.

• Question 48:

  Della works as a project manager for BlueWell Inc. She has asked her assistant Beth to provide activity duration estimate for an activity. Beth provides Della the following estimate chart:

  

  What will be the activity duration according to the PERT three-point analysis?

  A. 19

  B. 24

  C. 29

  D. 46

  Correct Answer: C

  A three-point estimate records the optimistic, most likely, and the pessimistic duration and then records an average for the predicted duration. Three-point estimate is a way to enhance the accuracy of activity duration estimates. This concept

  is originated with the Program Evaluation and Review Technique (PERT). PERT charts the following three estimates: Most likely (TM): The duration of activity based on realistic factors such as resources assigned, interruptions, etc. Optimistic

  (TO): The activity duration based on the best-case scenario Pessimistic (TP): The activity duration based on the worst-case scenario The expected (TE) activity duration is a weighted average of these three estimates: TE = (TO + 4TM + TP) /

  6 Duration estimates based on the above equations (sometimes simple average of the three estimates is also used) provide more accuracy.

  Here it is,

  TE = ( 24 + 28*4 + 36) / 6

  = 272/6

  = 29 (approx)

  Answer options B, D, and A are incorrect. These are not the valid answers for this question.

• Question 49:

  John works as the project manager for Blue Well Inc. He is identifying the phases within the scope of work for the project plan. Which of the following can be categorized as a project phase? Each correct answer represents a complete solution. Choose all that apply.

  A. Concrete

  B. Pre-construction

  C. Engineering

  D. Conceptual engineering

  Correct Answer: BCD

  A phase is a combination of associated activities that represent a distinct stage within a project. A phase can have distinct start and finish dates and include several stages of planning and work. Each project has a defined scope of work, such as a unique product or service. Some examples of phases within the scope of work for a project plan are conceptual engineering, pre-construction, and engineering. Answer option A is incorrect. Concrete is an activity, not a project phase.

• Question 50:

  Gary is the project manager of the NGH project for his organization. He and the project team have created the initial WBS. Before Gary and the project team begin creating the activity list, Gary wants the project team to help him create a unique numbering system for the deliverables identified in the WBS. What numbering system can Gary and the project team apply to the WBS to identify the components of the WBS?

  A. Code of accounts

  B. Chart of accounts

  C. Component numbering

  D. Activity linkage sequencing

  Correct Answer: A

  The code of accounts is a hierarchical numbering system that uniquely identifies each deliverable of the WBS and segments the WBS by levels of numbering.

  Answer option C is incorrect. Component numbering is not a valid term for project management. Answer option B is incorrect. A chart of accounts is a financial tracking and assignment tool for common deliverables and activities an

  organization performs for its customers. Answer option D is incorrect. Activity linkage sequencing is not a valid project management term.