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NEW QUESTION # 162
A project team member is estimating the cost of an activity and is checking documentation from previous similar projects. Which estimation method is the project manager using to complete this task?
- A. Three-point estimating
- B. Bottom-up estimating
- C. Parametric estimating
- D. Analogous estimating
Answer: D
Explanation:
Explanation/Reference:
Reference: https://pm4id.org/chapter/9-1-estimating-costs/
NEW QUESTION # 163
Projects can intersect with an organization's operations at various points during the product life cycle such as:
- A. When a project transitions from a temporary to a permanent status.
- B. When there is an operations shutdown (i.e. a strike).
- C. When developing new products, upgrading products, or expanding outputs.
- D. When the project manager is promoted to operations manager.
Answer: C
Explanation:
Section: Volume E
Explanation:
1.5.1 Operations and Project Management
Changes in business operations may be the focus of a dedicated project-especially if there are substantial changes to business operations as a result of a new product or service delivery. Ongoing operations are outside of the scope of a project; however, there are intersecting points where the two areas cross.
Projects can intersect with operations at various points during the product life cycle, such as:
At each closeout phase;
When developing a new product, upgrading a product, or expanding outputs;
While improving operations or the product development process; or
Until the end of the product life cycle.
At each point, deliverables and knowledge are transferred between the project and operations for implementation of the delivered work. This implementation occurs through a transfer of project resources to operations toward the end of the project, or through a transfer of operational resources to the project at the start.
Operations are ongoing endeavors that produce repetitive outputs, with resources assigned to do basically the same set of tasks according to the standards institutionalized in a product life cycle. Unlike the ongoing nature of operations, projects are temporary endeavors.
NEW QUESTION # 164
Which are the main objectives of Project Risk Management?
- A. Avoid all kind of risks
- B. Increase the probability of positive risks and eliminate all negative risks
- C. Identify positive and negative risks
- D. Increase the probability of positive risks and decrease the probability of negative risks
Answer: C
NEW QUESTION # 165
The Monitoring and Controlling Process Group includes processes that:
- A. Define a new project or a new phase of an existing project.
- B. Track, review, and regulate the progress and performance of a project.
- C. Complete the work defined in the project management plan.
- D. Establish the scope, objectives, and course of action of a project,
Answer: B
NEW QUESTION # 166
When a permitting agency takes longer than planned to issue a permit, this can be described as a risk:
- A. event.
- B. impact.
- C. perception.
- D. response,
Answer: A
NEW QUESTION # 167
Projects can be divided into phases to provide better management control. Collectively, what are these phases known as?
- A. Project life
- B. Project cycle
- C. The project life cycle
- D. Complete project phase
Answer: C
Explanation:
Section: Volume C
Explanation
NEW QUESTION # 168
Which process involves defining, preparing, and coordinating all subsidiary plans and integrating them into a comprehensive plan?
- A. Plan Quality Management
- B. Monitor and Control Project Work
- C. Develop Project Management Plan
- D. Direct and Manage Project Work
Answer: C
Explanation:
Section: Volume A
Explanation:
Process: 4.2. Develop Project Management Plan
Definition: The process of defining, preparing, and coordinating all subsidiary plans and integrating them into a comprehensive project management plan. The project's integrated baselines and subsidiary plans may be included within the project management plan.
Key Benefit: The key benefit of this process is a central document that defines the basis of all project work.
Inputs
1. Project charter
2. Outputs from other processes
3. Enterprise environmental factors
4. Organizational process assets
Tools & Techniques
1. Expert judgment
2. Facilitation techniques
Outputs
1. Project management plan
4.2.3.1 Project Management Plan
The project management plan is the document that describes how the project will be executed, monitored, and controlled. It integrates and consolidates all of the subsidiary plans and baselines from the planning processes.
Project baselines include, but are not limited to:
Scope baseline (Section 5.4.3.1),
Schedule baseline (Section 6.6.3.1), and
Cost baseline (Section 7.3.3.1).
Subsidiary plans include, but are not limited to:
Scope management plan (Section 5.1.3.1),
Requirements management plan (Section 5.1.3.2),
Schedule management plan (Section 6.1.3.1),
Cost management plan (Section 7.1.3.1),
Quality management plan (Section 8.1.3.1),
Process improvement plan (Section 8.1.3.2),
Human resource management plan (Section 9.1.3.1),
Communications management plan (Section 10.1.3.1),
Risk management plan (Section 11.1.3.1),
Procurement management plan (Section 12.1.3.1), and
Stakeholder management plan (Section 13.2.3.1).
Among other things, the project management plan may also include the following:
Life cycle selected for the project and the processes that will be applied to each phase;
Details of the tailoring decisions specified by the project management team as follows:
○ Project management processes selected by the project management team,
○ Level of implementation for each selected process,
○ Descriptions of the tools and techniques to be used for accomplishing those processes, and
○ Description of how the selected processes will be used to manage the specific project, including the dependencies and interactions among those processes and the essential inputs and outputs.
Description of how work will be executed to accomplish the project objectives;
Change management plan that documents how changes will be monitored and controlled;
Configuration management plan that documents how Configuration management will be performed;
Description of how the integrity of the project baselines will be maintained;
Requirements and techniques for communication among stakeholders; and
Key management reviews for content, the extent of, and timing to address, open issues and pending
decisions.
The project management plan may be either summary level or detailed, and may be composed of one or more subsidiary plans. Each of the subsidiary plans is detailed to the extent required by the specific project. Once the project management plan is baselined, it may only be changed when a change request is generated and approved through the Perform Integrated Change Control process.
NEW QUESTION # 169
Lessons learned are created and project resources are released in which Process Group?
- A. Executing
- B. Planning
- C. Closing
- D. Initiating
Answer: C
Explanation:
Section: Volume A
NEW QUESTION # 170
Given the following information.
Activity A takes one week.
Activity B takes three weeks.
Activity C takes two weeks.
Activity D takes five weeks.
Activity A starts at the same time as Activity B.
Activity C follows Activity B and Activity A.
Activity D follows Activity C.
How long will it take to complete the project?
- A. Ten weeks
- B. Eight weeks
- C. Nine weeks
- D. Eleven weeks
Answer: A
NEW QUESTION # 171
Who, along with the project manager, is supposed to direct the performance of the planned project activities and manage the various technical and organizational interfaces that exist within the project?
- A. The project management team
- B. The risk owners and stakeholders
- C. The customer and functional managers
- D. The sponsors and stakeholders
Answer: A
Explanation:
Section: Volume C
NEW QUESTION # 172
Which tool or technique can a project manager use to select in advance a team member who will be crucial to the task?
- A. Acquisition
- B. Negotiation
- C. Pre-assignment
- D. Virtual team
Answer: C
Explanation:
Explanation/Reference:
Explanation:
9.2.2.1 Pre-assignment
When project team members are selected in advance, they are considered pre-assigned. This situation can occur if the project is the result of specific people being identified as part of a competitive proposal, if the project is dependent upon the expertise of particular persons, or if some staff assignments are defined within the project charter.
NEW QUESTION # 173
Which of the following is an output from Control Scope?
- A. Requirements documentation
- B. Change requests
- C. Variance analysis
- D. Accepted deliverables
Answer: B
Explanation:
Section: Volume D
Explanation:
Process: 5.6 Control Scope
Definition: The process of monitoring the status of the project and product scope and managing changes to the scope baseline.
Key Benefit: The key benefit of this process is that it allows the scope baseline to be maintained throughout the project.
Inputs
* Project management plan
* Requirements documentation
* Requirements traceability matrix
* Work performance data
* Organizational process assets
Tools & Techniques
* Variance analysis
Outputs
* Work performance information
* Change requests
* Project management plan updates
* Project documents updates
* Organizational process assets updates
NEW QUESTION # 174
In a project using agile methodology, who may perform the quality control activities?
- A. A group of quality experts at specific times during the project
- B. Selected stakeholders at specific times during the project
- C. The project manager only
- D. All team members throughout the project life cycle
Answer: B
NEW QUESTION # 175
Which stakeholder communicates with higher levels of management to gather organizational support and promote project benefits?
- A. Project sponsor
- B. Project management office
- C. Portfolio manager
- D. Project manager
Answer: A
NEW QUESTION # 176
Which basic quality tool explains a change in the dependent variable in relationship to a change observed in the corresponding independent variable?
- A. Cause-and-effect diagram
- B. Control chart
- C. Scatter diagram
- D. Histogram
Answer: C
NEW QUESTION # 177
Which cost estimate technique includes contingencies to account for cost uncertainty?
- A. Parametric estimating
- B. Vendor bid analysis
- C. Three-point estimates
- D. Reserve analysis
Answer: D
Explanation:
Explanation/Reference:
Explanation:
6.5.2.6 Reserve Analysis
Duration estimates may include contingency reserves, sometimes referred to as time reserves or buffers, into the project schedule to account for schedule uncertainty. Contingency reserves are the estimated duration within the schedule baseline, which is allocated for identified risks that are accepted and for which contingent or mitigation responses are developed. Contingency reserves are associated with the "known- unknowns," which may be estimated to account for this unknown amount of rework.
As more precise information about the project becomes available, the contingency reserve may be used, reduced, or eliminated. Contingency should be clearly identified in schedule documentation.
[..]
Estimates may also be produced for the amount of management reserve of time for the project.
Management reserves are a specified amount of the project duration withheld for management control purposes and are reserved for unforeseen work that is within scope of the project. Management reserves are intended to address the "unknown-unknowns" that can affect a project. Management reserve is not included in the schedule baseline, but it is part of the overall project duration requirements. Depending on contract terms, use of management reserves may require a change to the schedule baseline.
NEW QUESTION # 178
Which of the following is an example of an internal factor that influences the outcome of the project?
- A. Geographic distribution of facilities
- B. Commercial database
- C. Financial considerations
- D. Legal restrictions
Answer: C
NEW QUESTION # 179
Which of the following must be included in the risk register when the project manager completes the Identify Risks process?
- A. Short risk titles, list of potential risk owners, list of impacts on objectives
- B. List of identified risks, list of causes, list of risk categories
- C. List of identified risks, potential risk owners, list of potential risk response
- D. List of activities affected, list of potential risk responses, list of causes
Answer: C
Explanation:
Section: Volume E
NEW QUESTION # 180
The project leam is brainstorming on approaches to deliver the upcoming product launch for which the project has been chartered. The project manager is laying out hybrid, adaptive, iterative methods. What is the team trying to address?
- A. Lite-cycle
- B. Diversity
- C. Management
- D. Co-location
Answer: C
NEW QUESTION # 181
Which items are an output of the Perform Integrated Change Control process?
- A. Project management plan updates
- B. Organizational process assets
- C. Accepted deliverables
- D. Work performance reports
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Process: 4.5 Perform Integrated Change Control
Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating their disposition. It reviews all requests for changes or modifications to project documents, deliverables, baselines, or the project management plan and approves or rejects the changes.
Key Benefit: The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans.
Inputs
1. Project management plan
2. Work performance reports
3. Change requests
4. Enterprise environmental factors
5. Organizational process assets
Tools & Techniques
1. Expert judgment
2. Meetings
3. Change control tools
Outputs
1. Approved change requests
2. Change log
3. Project management plan updates
4. Project documents updates
NEW QUESTION # 182
What is one of the objectives of Project Risk Management?
- A. Increase the probability and impact of positive events.
- B. Distinguish between a project risk and a project issue so that a risk mitigation plan can be put in place.
- C. Removal of project risk.
- D. Decrease the probability and impact of an event on project objectives.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
PROJECT RISK MANAGEMENT
Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project. The objectives of project risk management are to increase the likelihood and impact of positive events, and decrease the likelihood and impact of negative events in the project.
NEW QUESTION # 183
Which stakeholder classification model groups stakeholders based on their level of authority and their active involvement in the project?
- A. Influence/impact grid
- B. Power/interest grid
- C. Power/influence grid
- D. Salience model
Answer: C
NEW QUESTION # 184
A project team is discussing an upcoming planned product launch of a highly visible technologically advanced artificial intelligence tool. The team is debating the aspect of iterative and hybrid approaches.
Which aspect of tailoring would this best represent?
- A. Life cycle approaches
- B. Technology support
- C. Project dimensions
- D. Resource availability
Answer: C
NEW QUESTION # 185
The purpose of inspection in Perform Quality Control is to keep errors:
- A. out of the hands of the customer.
- B. out of the process.
- C. in line with a measured degree of conformity.
- D. in a specified range of acceptable results.
Answer: A
Explanation:
Section: Volume D
NEW QUESTION # 186
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How much CAPM Exam Cost
The price of the exam for the member is 225 USD and for non-member is 300 USD.
To be eligible to take the CAPM exam, individuals must have a high school diploma, associate’s degree, or the equivalent, and must have completed either 23 hours of project management education or 1,500 hours of professional experience on a project team. The exam consists of 150 multiple-choice questions which must be completed within a 3-hour time limit. The questions cover five process groups of project management: initiating, planning, executing, monitoring and controlling, and closing. Upon passing the exam, individuals are awarded the CAPM certification, which is valid for five years and can be renewed by earning professional development units (PDUs) through continuing education or professional experience.
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