Free PMI-SP Exam Dumps Preview

Explanation:

The performance measurement baseline, which can be comprised of cost, scope, and schedule, is the foundation for creating a performance report.
Answer option B is incorrect. The scope baseline will only reflect the performance of the scope, whereas performance reports typically need scope, time, and cost as its foundation. Answer
option A is incorrect.
Cost variances and the cost performance index are cost values that must be considered along with the scope performance and schedule performance. Answer option D is incorrect. Only reporting performance on the schedule is not enough for a performance report. Laura should also report on scope and cost at a minimum.

Explanation:

The procurement SOW consists of a description of some collateral services required, such as performance reporting or post-project operational support for the procured item. The procurement SOW is revised and refined as required when it moves through the procurement process until incorporated into a signed contract award.

Explanation:

According to the question, the SPI of Martha's project is 0.835. This figure is less than 1. Hence, it shows that the schedule performance is below expectation. What is SPI? Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance.
SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI
= Earned Value (EV) / Planned Value (PV) If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target. Answer options B and A are incorrect. An SPI value of 1 or above indicates that the schedule performance is either right on target or better than expected. Answer option C is incorrect. SPI has nothing to do with cost performance.

Explanation:

The schedule performance index is found by dividing the earned value by the planned value. For Holly's project, it would be as follows:
SPI = EV/PV
= (0.85*9,850,400)/(0.95*9,850,400)
=8,372,840/9,357,880
=0.89
Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula:
SPI = Earned Value (EV) / Planned Value (PV)
If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target.
Answer option D is incorrect. Ten percent is not a valid calculation for this question. Answer
option B is incorrect. 0.98 is the cost performance index. Answer option A is incorrect. 1.07 is the to-complete performance index based on the BAC.

Explanation:

Tom is working with the project communication management process, as it is required to ensure the timely disposition of project information. Project Communications Management is one of the nine Knowledge Areas. It employs the processes required to ensure timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition of project information. The following processes are part of Project Communications Management:

Identify Stakeholders
Plan Communications
Distribute information
Manage Stakeholder Expectations

Report Performance
The Project Communications Management processes provide the critical links among people and information that are necessary for successful communications. These processes interact with each other and with the processes in the other Knowledge Areas as well. Answer option B is incorrect. Managing stakeholder expectation is the process of working and communicating with the stakeholders to meet their requirements. Answer
option A is incorrect. Work performance measurement uses the information to create project activity metrics to evaluate actual progress compared to planned progress. Answer option D is incorrect. Stakeholder analysis is the process of gathering and analyzing quantitative and qualitative information to determine the interest of the stakeholders. You are the project manager for your organization. Management has asked you to document the holidays, weekends, and other corporate working hours, which will supersede the project timings for your schedule. Which calendar will communicate to the project stakeholders, when the project work will take place within the organization?

Explanation:

The float for Activity I is three days. The early start for Activity I is Day 17 and the late start for Activity I is Day 20. Therefore, the difference of the early start and the late start reveals the float as three days. It is possible, and acceptable, to use the difference of the early finish and the late finish to find the float, as the value will be the same amount.
Answer options B, D, and C are incorrect. These are not the valid calculation for the total float.

Explanation:

Management wants to know the cost performance index (CPI). You can find the CPI by first finding the earned value (EV) and then dividing it by the actual costs (AC) spent to date on the project. You find EV by multiplying percent complete by the project's budget; in this instance that's $344,250. The actual costs are
reported as $365,000. The formula for the CPI on this project is $344,250 / $365,000 for a value of .94.
What is CPI? Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. What is BCWP (or EV)?
Budgeted cost of work performed (BCWP) or Earned Value (EV) is the value of completed work. It is the budgeted amount for the work actually completed on the schedule activity during a given time period.
Answer options C, A, and D are incorrect. These do not reflect an accurate value for the project's cost performance index. The project is performing moderately well on cost as the closer the CPI is to 1 the better the project's performance.

Explanation:
The graphic shown in the figure is a communications bull's eye. The project manager must keep the project within the boundaries defined by the bull's eye or he will need to generate a performance report.
This is an example of management by exception because the project manager only communicates with management when there is an exception, or variance, within the project. Answer options C, B, and D are incorrect. These are not valid terms for the communications bull's eye.

Explanation:

Crashing means that the project manager will add resources to the project to complete effort-driven activities in the project. This schedule compression technique adds costs to the project. What is crashing?
Crashing is a schedule compression technique to obtain the greatest amount of compression for the least incremental cost. Crashing works for activities where additional resources will shorten the duration.

Approving overtime, bringing in additional resources, paying to expedite delivery to activities on the critical path are examples of crashing.
Answer option C is incorrect. Crashing does generally add costs to the project because of the labor added, but this is not the best choice for the question. Answer options D and A are incorrect. These are not the valid definitions of crashing.

Explanation:

The main function of the schedule model is to provide a useful 'road map' that can be used by the project manager and the project team to assist them in completing the project fruitfully. A well-developed schedule model is an active tool used to predict at what time the project work that remains to be completed can reasonably be completed. The schedule model allows the project team to look at the performance of the project to date, and use that data to make more accurate projections about the future.

Explanation:

If a resource leveling heuristic, such as 45 hours maximum per time period, is enforced on the project, then the project schedule will take longer to complete. What is resource leveling heuristics? Resource leveling heuristics is a prioritization method that allocates inadequate resources to critical path activities first. It is a schedule network analysis technique useful to a schedule that has already been analyzed by the critical path method. It is used when shared or critical essential resources are only available at certain times, in limited quantities, or to keep resource usage at a constant level. It is a technique that resolves resource conflicts by delaying tasks within their slack allowances. Resource leveling is the process in which project teams come across problems when developing their project schedules. If a company has multiple projects running simultaneously that require the same resources, then problems can arise. It can often cause the critical path method to change. Answer option A is incorrect. The 45-hour limit is a restriction on the project. Answer
option C is incorrect. The project will not take less time to complete because the project team members won't be able to complete as much work in the same amount of time.
Answer option D is incorrect. The project may require more resources if the project manager and management want the project to finish by a particular date. In this question, however, the focus is on what will happen to the project schedule, not the project staffing.

Explanation:

An analogous estimate is a form of expert judgment because it relies on historical information. The historical information, assuming that it is accurate, serves as the conduit to the expert that created the historical information.
Answer option C is incorrect. A bottom-up estimate creates an activity duration estimate for each work
package in the WBS.
Answer option A is incorrect. Parametric estimating uses a parameter, such as 10 hours per fixture installation, as a base to predict the duration of the project. Answer
option D is incorrect. A definitive estimate, also known as a bottom-up estimate, accounts for the cost of each work package.

Explanation:

In severe cases, new schedule duration estimates with new forecasted start and finish dates are needed.
In these instances, it is an example of using the control schedule process. Control schedule process is a method of monitoring the status of the project to update project progress and deal with the changes to the schedule baseline. It is concerned with: Determining the current status of the project Influencing the factors that create schedule changes Determining that the project schedule has changed Managing the actual changes as they occur Control schedule is a component of the Perform Integration Change Control process.
Answer option B is incorrect. The activity resources would only address the addition or replacement of resources needed to complete the project work.
Answer option A is incorrect. This is a tempting choice, but according to the PMBOK, new schedules are part of the control schedule process.
Answer option D is incorrect. Develop schedule is not the best choice for this question. It is a process of analyzing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule.

Explanation:

The project schedule network diagram is an output of the sequence activity process, not an input. This process uses five inputs: the activity list, the activity attributes, milestone list, the project scope statement, and the organizational process assets. The project schedule network diagram is an output of the sequence activity process. It represents a schematic display of the project's schedule activities and the logical relationship among them. This diagram can be produced manually or by using the project management software. It consists of complete project details, or one or more summary activities. Answer options D, B and A are incorrect. These are inputs to the process.

Explanation:

Project scope is the effort that must be required to gather a client's plan, goals for space, purpose, properties, impact, and stage of eminence. Scope management sets the boundaries for the project and is the foundation on which the other project elements are built. Scope management helps to organize the work responsibilities and their requirements for successful completion. Managing the project scope is primarily concerned with defining and controlling what is and what is not included in the project.

Explanation:

The WBS is not an input, directly, to the develop schedule process. Technically, you will need the scope baseline, which does include the WBS. The inputs in developing a schedule process are of nine types, which are as follows:

Activity list
Activity attributes
Project schedule network diagrams
Activity resource requirements
Resource calendars
Activity duration estimates
Project scope statement
Enterprise environmental factors
Organization process assets

Explanation:

The schedule development process is used for selecting a scheduling method, scheduling tool, incorporating project specific data within that scheduling tool to develop a project specific schedule model, and generating project schedule. Schedule development is the process of analyzing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule. Inserting the activities, durations, and resources into the scheduling tool generates a schedule with planned dates for completing the project activities. The goal of the schedule development is to form the processes such that the stakeholders can use it in the creation of the project. Schedule development consists of two main sections: ArticlesItemsReportsHelp 1. Input and Data: The starting point for any schedule is the input of information developed during the planning process.
Define schedule scope
Breakdown structure relationships
Schedule specification
Feedback from stakeholders
Cost estimate model 2. Creating Schedule: This process provides basic knowledge in an outline structure for a study of the means, methods, and tools necessary for the project schedule development process.
Types of schedules
Activities
Durations
Relationships
Constraints and calendars

Cost and resource loading Schedule quality analysis and compliance review Schedule basis documentation Answer option B is incorrect. Schedules maintenance is a method to account progress and to forecast trends, progress, and completion. Schedules are used to manage successful execution of projects. A schedule models the plan using resources and execution strategy to gather the project objectives. Periodic updates are undertaken to determine the actual progress achieved. Information obtained in the updating process, along with trend analysis and forecast of future progress, is reported to stakeholders. These progress updates include schedule maintenance to account for nominal changes to the execution plan.
Depending upon the nature of change, the schedule and assumptions upon which the schedule was based significantly change. The schedule must be re-examined and updated, as necessary, to develop a new baseline for measuring further progress. Schedule maintenance consists of the following elements: Baseline Schedule Tracking Schedule Progress Cost and Resource Management Schedule Change Management Acceleration Schedule Maintenance Feedback Answer option D is incorrect. Perform Integrated Change Control is the process of reviewing all change requests, approving changes, and controlling changes to the deliverables and organizational process assets in a project. Perform Integrated Change Control has to do with influencing the things that cause change, determining that the change is required or has happened, and managing the change. Answer
option A is incorrect. Constructability analysis is a process that starts in the initial planning phases and persists all over the entire planning cycle and into the implementation phase of the project. Constructability analysis during the planning process examines the methods and cost of installed equipment and materials, technology, site conditions, resources, and related infrastructure. The benefit of constructability analysis is to reduce both the time and cost of a project. Constructability analysis is repeatedly performed throughout the life-cycle of a project in order to optimize cost, plan, and schedule while mitigating risk. It is a very important process that needs to be performed early in planning to allow alternatives to be considered and integrated into the design.

Explanation:

Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. In this instances it is $270,000 divided by $335,000 for a CPI of .81. Answer option B is incorrect. .67 is actually the schedule performance index. Answer
option D is incorrect. -$65,000 is the cost variance for the project. Answer option A is incorrect. -$135,000 is the schedule variance of the project.

Explanation:

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.

Explanation:

The Precedence Diagramming Method uses both predecessors and successors as nodes in the project network diagram. The PDM approach is the most common network diagram approach used. Answer option C is incorrect. Dependency determination identifies the order of the project work. Answer
option B is incorrect. The schedule network template is a tool that uses a previous project network diagram as a base for the current project network diagram. Answer option D is incorrect. Activity on the node places activities on circles within a network diagram. It is an example of the precedence diagramming method.

Explanation:

The finish-to-start relationship type is the most common in a project network diagram. It means that the predecessor activity must finish before its successor activity can start. For example, the carpet must be installed before the painting activity can begin. What is precedence diagramming method (PDM) in sequence activities? Precedence diagramming method (PDM) is used in critical path methodology for building a project schedule network diagram that uses boxes or rectangles, referred to as nodes, to represent activities, and join each other with arrows that show the logical relationship that exists between them. This technique is also known as Activity-On-Node (AON).It includes four types of dependencies or logical relationships: Finish-to-start(FS): The initiation of the successor activity depends upon the completion of the predecessor activity. Finish-to-finish(FF): The completion of the successor activity depends upon the completion of the predecessor activity. Start-to-start(SS): The initiation of the successor activity depends upon the initiation of the predecessor activity. Start-to-finish(SF): The completion of the successor activity depends upon the initiation of the predecessor activity.

Explanation:

Crashing adds more workers to the project team. Crashing allows the project to complete faster because there are more people helping with the project work.
Answer option D is incorrect. Reducing the project scope is called descoping or project scope changes.
Answer option A is incorrect. Crashing does not consider the working hours. Answer
option B is incorrect.
Resource leveling actually increases the project duration.

Explanation:

The resource calendar is needed because it will help Wendy and the project team to determine when the project team resources will be available. The availability of the project resources can affect the overall duration of the project. A resource calendar is used to make sure that work resources (people and equipment) are scheduled only when they are available for work. They affect a specific resource or category of resources. By default, the working time settings in the resource calendar are the same as in the project calendar. However, a user can customize the resource calendar to show individual schedule information, such as vacations, leaves of absence, or equipment maintenance time. Answer option B is incorrect. The project scope statement is an input to the estimate activity duration estimate, but it is not the best choice for this question. Answer
option C is incorrect. The project communications management plan is not an input to the estimate activity duration process.
Answer option A is incorrect. The project charter is not an input to the estimate activity duration process.

Explanation:

Cost and schedule performance indexes should be as close to 1 as possible. A larger value, such as 2.12, means that the schedule duration estimates were likely bloated or incorrect to begin with. Answer option B is incorrect. This is not the best choice for this question. Answer
option C is incorrect. The number should not be close to 100; it should be close to 1. Answer option D is incorrect. While Mark may have crashed
the schedule and driven up costs to achieve the SPI value, a more likely reason is that the time estimates were bloated.

Explanation:

To answer this question, you'll first need to calculate the contingency reserve. Contingency reserves are estimated costs to be used at the discretion of the project manager to deal with anticipated, but not certain, events. These events are "known unknowns" and are part of the project scope and cost baselines. The contingency reserve is calculated by multiplying the probability and the impact for the risk event value for each risk event. The sum of the risk events equals the contingency reserve for the project. The sum of the risk events equals the contingency reserve for the project. In this question, the value is $41,700. If Risk D happens, it'll cost the project $35,000. The difference of $35,000 and $41,700 is $6,700.
Answer option A is incorrect. This is the impact of Risk Event D.
Answer option D is incorrect. $14,000 is the risk event value of Risk Event D.
Answer option B is incorrect. $41,700 is the amount of the contingency reserve.

Explanation:

PERT uses the formula of (O+4M+P)/6 to predict the duration of the project activities and the overall project schedule. 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.
Answer option A is incorrect. This is not a valid formula. Answer
option D is incorrect. This almost describes the three-point estimate, but does not answer the question about PERT.
Answer option B is incorrect. This is the formula for the three-point estimate. Note the PERT, while similar, uses 4M and divides the result by six factors.

Explanation:

The schedule performance index shows how well the project is performing on its schedule goals. The SPI can be found by dividing the earned value by the planned value. In this instance, it is $2,025,000 divided by $2,250,000 for .90. The closer to 1, the better the performance. Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance.
SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI
= Earned Value (EV) / Planned Value (PV) If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target. Answer option B is incorrect. 0.98 is the cost performance index. Answer
option A is incorrect. 1.02 is the to-complete performance index. Answer option D is incorrect. -$108,120 is the variance at completion based on current performance.

Explanation:

The Monte Carlo simulation tool allows a project manager to explore "what-if" analysis for the project schedule and possible combinations of events in the project. Monte Carlo simulation is a process for iteratively evaluating a deterministic form using sets of random numbers as inputs. This method is repeatedly used when the model is complex, nonlinear, or involves more than just a couple of vague parameters. Monte Carlo simulation is named after the city in Monaco, where the major attractions are casinos that have games of chance. Gambling games, such as roulette, dice, and slot machines, exhibit random behavior. This technique works particularly well when the process is one where the underlying probabilities are known but the results are more difficult to determine. It is a process that generates hundreds or thousands of probable performance outcomes based on probability distribution for cost and schedule on individual tasks. The outcomes are then used to generate a probability distribution for the project as a whole.
Answer option D is incorrect. GERT is the Graphical Evaluation Review Technique and is a visual mapping of the project work including branches and loop backs within the project. Answer
option A is incorrect.
PERT is the Program Evaluation and Review Technique and is used for project scheduling and time estimating.
Answer option C is incorrect. PMIS is a project management information system, such as Microsoft Project, and often includes what-if analysis tools, but it's not the best answer for this question.

Explanation:

The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BAC. Planned value is the percetage of where the project should be at this time multiplied by the BAC. 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. In this example,
EV = 40% of BAC
= 300,000, and
PV = 50% of BAC
= 375,000
SV = 300,000 - 375,000
= -75,000
Answer options C, B, and D are incorrect. These are not the correct values for the schedule variance.

Explanation:

The only statement that is true is that the critical path shows the project's earliest date for completion. A critical path is the sequence of project activities, which add up to the longest overall duration. This determines the shortest time possible to complete the project. Any delay of an activity on the critical path directly impacts the planned project completion date (i.e. there is no float on the critical path). A project can have several, parallel, near critical paths. An additional parallel path through the network with the total durations shorter than the critical path is called a sub-critical or non-critical path. These results allow managers to prioritize activities for the effective management of project completion, and to shorten the planned critical path of a project by pruning critical path activities, by "fast tracking" (i.e., performing more activities in parallel), and/or by "crashing the critical path" (i.e., shortening the durations of critical path activities by adding resources). Answer option C is incorrect. There can be more than one critical path, as two paths in the project network diagram can both take the same amount of time and be longer than any other paths in the project.
Answer option A is incorrect. The critical path can be, and often is, crashed with extra resources in an attempt to recover the project schedule.
Answer option B is incorrect. The critical path is the longest path to project completion.

Explanation:

The schedule performance index can be found by dividing the earned value by the planned value. In this project, it's $447,000 divided by the $558,750 for a value of 0.80. Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance.
SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula:
SPI = Earned Value (EV) / Planned Value (PV)
If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target.
Answer option A is incorrect. "80" is not the same value as ".80". Answer
option B is incorrect. 1.02 is the cost performance index. Answer option C is incorrect. 102 is not a valid calculation for this question.

Explanation:

According to the PMBOK, the project manager provides the feedback to programs and portfolios by means of status reports and change requests that may impact other projects, programs, or portfolios. The needs of the projects, including the resource needs, are rolled up and communicated back to the portfolio level, which in turn sets the direction for organizational planning. What is a status report? A status report is a narrative description about a subject that is relevant to an organization. Typically, a user submits a status report that was created for him by a manager. He can also create and submit his own unrequested status report at any time. It is a collaborative feature specific to PW A. Status report in PWA is a convenient way to exchange textual information with the team members about the status of a project or items in addition to task progress, which a user updates on the Tasks page. What are change requests? Change requests are requests to expand or reduce the project scope, modify policies, processes, plans, or procedures, modify costs or budgets or revise schedules. These requests for a change can be direct or indirect, externally or internally initiated, and legally or contractually imposed or optional. A Project Manager needs to ensure that only formally documented requested changes are processed and only approved change requests are implemented. Answer option C is incorrect. While regular communication is needed, this is not the best answer for the question.
Answer option A is incorrect. Status meetings are a part of project communications, but do not answer the question as completely as status reports and change requests. Answer
option B is incorrect. Push communications is one type of communicating mode where the project manager pushes the information to recipients. This is not the best choice for the question because there are other modes communicating as well.

Explanation:

The path of ABDHJ will take 21 days to complete and cannot exceed 27 days or else the project will be late. If Activity B takes four additional days and Activity D takes two additional days, this adds (4+2= 6) six days to the path, bringing the path's duration to exactly (21+6 = 27) twenty seven days. There is no
available float left for Activity E or H. Float or total float (TF) is the total amount of time that a schedule activity may be delayed from its early start date without delaying the project finish date, or violating a schedule constraint. It is calculated by using the critical path method technique and determining the difference between the early finish dates and late finish dates. Answer options A, C, and B are incorrect.
There is no float available because the path's duration has increased to 27 days.

Explanation:

An activity is an individual component of work that is logically linked to other activities to outline the schedule. Its key characteristics include an overall duration based upon the resources applied to it (manpower, material, and equipment), a start and completion date that is tied to a work calendar, and an association with other activities (predecessor and successors). Following are the various types of activities in schedule creation: Tasks: A task is an activity that needs to be accomplished within a defined period of time. Milestones: A milestone is the end of a stage that marks the completion of a work package or phase, typically marked by a high level event such as completion, endorsement or signing of a deliverable, document or a high level review meeting. Flags: Flags shall occur at appropriate intervals of approximately each month. The flags shall be located on the critical path and be incorporated into the baseline, all targets, and the current schedule. Hammocks: Hammocks are a summary pseudo "activity" representing a group of related activities that collectively cover some portion of a project.
Answer option B is incorrect. The Critical Path scheduling, or Critical Path Analysis, is a mathematically based algorithm for scheduling a set of project activities.

Explanation:

The estimate to complete is about knowing how much more money the project will need to complete its objectives. 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. Here it is,
CPI = EV/AC
= (0.20*2,816,000)/495,000
= 563200/495,000
= 1.1378
EAC = BAC/ CPI
= 2,816,000/1.1378
= 2,474,952 (Approx)
ETC = EAC - AC
= 2,474,952 - 495,000
= 1,979,952
Answer options C and A are incorrect. These are not the valid answers for this question. Answer option D is incorrect. This is the estimate at completion based on the current project performance.

Explanation:

Risk events are not associated with the activity attributes, but are recorded in the project risk register. Risk events are the distinct and particular occurrence that negatively affects a decision or a plan. Activity attributes are an output of the Define Activity process. These attributes refer to the multiple components that frame up an activity. The components for each activity during the early stages of the project are the Activity ID, WBS ID, and Activity name. At the later stages, the activity attributes include Activity codes, Predecessor activity, activity description, logical relationship, successor activity, leads and lags, imposed dates, and constraints and assumptions. Activity attributes are used for schedule development and for ordering, selecting, and sorting the planned schedule activities in a number of ways within reports.

Explanation:
Reserve analysis is not an input to the determine budget process. It is a technique used for determining the budget. The inputs to the determine budget process are as follows: Activity cost estimates Basis of estimates Scope baseline Project schedule Resource calendars Contracts Organizational process assets

Explanation:
According to the question, you have to use the estimating technique that has a higher degree of accuracy.
The most accurate estimating technique is bottom-up estimating. What is bottom-up estimating? Bottom-up is a cost estimating technique that involves estimating the cost of individual work packages or schedule activities with the lowest level of detail. The detailed cost is rolled up (or summarized) to higher levels for total project estimates. This summarized data is very useful for reporting and tracking purposes. Bottom-up estimating provides a higher degree of accuracy, provided the estimates at the work package level are accurate.
Answer options C, A, and B are incorrect. Parametric modeling and analogous estimating techniques use top-down estimation model. These are less accurate than the bottom-up estimation. What is analogous estimating? Analogous is an estimating technique that uses the values of parameter, such as scope, cost, budget, and duration or measures of scale such as size, weight, and complexity from a previous, similar activity as the basis for estimation of the same parameter for a future activity. It is a top-down estimating technique and is a form of expert judgment. It provides a lower degree of accuracy than other estimating techniques. This technique is primarily used when there is a limited amount of detailed information about the project or program. What is parametric modeling? Parametric modeling is an estimating technique that uses parameters, or project characteristics, to forecast project costs. It involves a top-down approach and is similar but more accurate than analogous estimating. It uses historical data and other variables to calculate an estimate for activity parameters, such as scope, cost, budget, and duration.

Explanation:
Management reserve is an allotment of time added to the end of the project schedule. When delays happen within the project, the delays are subtracted from the management reserve. Answer option C is incorrect. Kenny is not using a three-point estimate in this instance. Answer
option A is incorrect. Rewards and recognitions are a good incentive for accurate work, but errors and delays may still happen and the rewards would not necessarily prevent delays in the project. Answer option B is incorrect. Kenny may be using some type of analogous estimating to predict activity duration, but the best answer is the reliance on the management reserve.

Explanation:

Although this appears to be a simple change the project manager must still follow the rules of the project's change control system. Perform Integrated Change Control is the process of reviewing all change requests, approving changes, and controlling changes to the deliverables and organizational process assets in a project. Perform Integrated Change Control has to do with influencing the things that cause change, determining that the change is required or has happened, and managing the change. Answer option D is incorrect. Communications management is the execution of the communications management plan.
Answer option A is incorrect. The project change control process not valid as it's the parent of the integrated change control process, which is more accurate for this question. Answer
option C is incorrect.

Configuration management is the documentation and control of the product's features and functions.

Explanation:

The schedule performance index shows how well the project is performing on schedule. It is found by dividing the earned value by the planned value. 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 D is incorrect. EV-AC is the project's cost variance. Answer
option B is incorrect. EV/AC is the project's cost performance index. Answer option A is incorrect. EV-PV is the project's schedule variance.

Explanation:

When the project manager elects to use fast tracking the project manager is allowing phases of the project to overlap. When phases overlap there is added risk to the project. Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope. Answer option C is incorrect. Management's greatest concern is about the added risks of fast tracking and not about the SPI.
Answer option A is incorrect. Costs are added when the project manager elects to crash a project. Answer
option D is incorrect. Quality may suffer, but the most prominent concern is the added risks to the project work.

Explanation:

A Website is an example of a pull communication. This means the information is available, but the reader must go to the source and retrieve the information. Pull communication is defined by what the reader wants and what interests he has in retrieving the information. In other words, the information is available, but the reader must go to the source and retrieve the information. This type of communication is used by advertising agencies to draw clients into retail establishments to receive messages. Customers decide on when and how they will act on the messages in the pull model of communications. Some virtual examples of pull communication are: Blogs Wikipedia Websites Answer option D is incorrect. This does not describe the communication model or how information is distributed.
Answer option C is incorrect. Passive communication is a not a project management term to describe communications.
Answer option B is incorrect. Push communication describes the process of delivering the communication to the recipients, such as through email.

Explanation:

Of all the choices, the best explanation is that a dashboard is a report for quick review of the project's performance metrics. While there are some software solutions, they still focus on the key performance criteria of the project.
Answer option C is incorrect. This answer defines the definition of quality control, not the dashboard's review of project performance.
Answer option B is incorrect. Dashboards focus on the performance of the project's key performance factors, not the project manager.
Answer option A is incorrect. A status report could include the details of the project's risks and issues, but usually not the dashboard.

Explanation:

The various techniques of group decision making are as follows: Unanimity: In this technique, everyone agrees on a single course of action. Majority: In this technique, more than 50% of the members of the group support the decisions. Plurality: In this technique, the largest block in a group decides even if a bulk is not achieved. Dictatorship: In this technique, one individual makes the decision for the group.

Explanation:

The communications management plan will define who will receive what information. Answer option B is incorrect. The project sponsor may be a recipient but the project communications management plan is the best selection.
Answer option A is incorrect. Functional management is not the best choice in a projectized structure.
Answer option D is incorrect. The project customer may receive a copy of the report, but the project communications management plan should direct the communications.

Explanation:

The change management system comprises several components that guide the change request through the process. When a change request is made, it will affect the project scope. The Configuration Management System evaluates the change request, and documents the features and functions of the change on the project scope. What is Configuration Management System? Configuration Management System is a subsystem of the overall project management system. It is a collection of formal documented procedures used to identify and document the functional and physical characteristics of a product, result, service, or component of the project. It also controls any changes to such characteristics, and records and reports each change and its implementation status. It includes the documentation, tracking systems, and defined approval levels necessary for authorizing and controlling changes. Audits are performed as part of configuration management to determine if the requirements have been met.
Answer option D is incorrect. Integrated Change Control, part of the change control system, does not document changes to the features and functions of the project scope. It evaluates the change's impact on eight knowledge areas: scope, time, cost, quality, human resources, communication, risk, and procurement. What is Perform Integrated Change Control? Perform Integrated Change Control is the process of reviewing all change requests, approving changes, and controlling changes to the deliverables and organizational process assets in a project. Perform Integrated Change Control has to do with influencing the things that cause change, determining that the change is required or has happened, and managing the change.
Answer option A is incorrect. Verify scope is a process of formalizing acceptance of the completed project deliverables. It is an inspection-driven process the stakeholders will complete to inspect the project scope deliverables. It is typically performed at the end of the phase and at the end of the project. Answer
option C is incorrect. The Project Management Information System (PMIS) is an information system consisting of the tools and techniques used to gather, integrate, and disseminate the outputs of project management processes. It is used to support all aspects of the project from initiating through closing, and can include both manual and automated systems. It is the parent of the change control process. It is a system that includes all of the change control processes for scope, time, cost, and procurement. Configuration management is part of the PMIS.

Explanation:

Crashing adds effort to the project activities. Activities that are of fixed duration, for example software testing, would not finish faster with added resources. Crashing is a schedule compression technique to obtain the greatest amount of compression for the least incremental cost. Crashing works for activities where additional resources will shorten the duration. Approving overtime, bringing in additional resources, paying to expedite delivery to activities on the critical path are examples of crashing. Answer option D is incorrect. Activities on the critical path can be crashed. Answer
option C is incorrect. Activities with risks can be crashed. Answer option A is incorrect. Additional quality control metrics are not necessary just because Holly elects to crash her project.

Explanation:

The define activities process is the process that may begin once the project's WBS has been completed and approved. It is possible, in some projects, to complete the WBS and the activity list at the same time.
Answer option D is incorrect. Sequencing the activities cannot happen until the activity list has been created.
Answer option A is incorrect. Estimating activity resources is dependent on the activity list, so this choice is not valid.
Answer option C is incorrect. Estimate activity durations are dependent on the activity list, so this choice is not valid.