1. Your project is due for a financial review and you have gathered some data. Your EV is $680,000, your AC is $720,000 and your BAC is $960,000. What is your EAC?
2. Which of the following documents contains a definition of the project cost variance thresholds?
The cost baseline
The configuration management plan
The resource management plan
The cost management plan
3. Where is the product lifecycle documented?
The project management plan
The project scope statement
The scope management plan
The scope requirements plan
4. What type of chart ranks of the reasons for cost variance?
Cause and effect diagram
5. The ability, skills and capacity of an individual to implement project activities is called their:
6. Which of the following is not an activity within the control scope process?
Managing the product and project scope changes
Making sure that scope creep does not occur on the project
Obtaining customer sign-off on the final deliverable
7. You are currently negotiating a FPIF contract. The target cost = $400,000 with a target profit of 15%. The incentive split has been decided as 60/40. As of today, the actual costs are $350,000. What is the actual profit?
8. The purpose of a change control system is to:
Assess cost or schedule impacts prior to implementation
Ensure that a common plan is used by all project team members
Ensure that changes to the SOW are approved
All the above
9. When implementing the increased accuracy of a bottom up estimate, what potential downside must be considered?
The size of the project
The additional cost of estimating
The amount of risk within the project
The experience of the estimators
10. Your project is approaching the end of a key development phase and you are gathering historic data to prepare for an important project status review. For the past three months you note that the TCPI has been getting progressively larger. What does this signify?
Your forecast accuracy is improving
Your cost performance is improving
Your cost performance is getting worse
Your schedule performance is getting better
11. One of your key development resources has been head hunted by a competitor and they have been immediately removed from the project site. For the immediate future, you need to farm out his work to those team resources that remain on the project. Which tool or technique should you use to spread his work among the remaining team?
12. Which process has a primary purpose of maintaining the integrity of project baselines?
Perform integrated change control
Control the scope
Monitor and control project work
13. The sender within a communication model has the responsibility for:
Correct interpretation of the information
Making the content clear and complete
Ensuring that all the information is received
Decoding the message contents
14. You have an unresolved dispute with the supplier during the close project process. You are considering the option of alternative dispute resolution (ADR). What type of option is this?
15. Your project has emerged from an audit with a discrepancy between yourself and your sponsor. In your opinion the discrepancy is not major, but as the sponsor is more senior, you manage the situation by highlighting the many achievements and downplayed the few differences that the audit has identified. This is an example of:
16. Your project that is producing a particular product must be developed by machinery that is calibrated within very fine tolerances. To ensure that this happens, you have implemented laser controlled measurement devices that constantly monitor this machine’s set up. To be effective, these devices must have a high degree of:
17. Which of the following options is correct for the Close Project process:
It is not mandatory only optional
It may occur at the end of each project phase
It must occur once per project
The process ensures that the project is successful
18. Your project is developing a new product due to be launched at a trade show in November this year. The total investment cost is $2,800,000, and you are expecting to recapture $1,200,00 by February the following year, and the remaining $1,600,00 investment by July of that year. What type of forecast is this called?
Benefit cost ratio
Net present value
19. Which is the highest performance level for a project team?
20. As the project manager, you are working closely with your team to ensure they thought was on meeting the project objectives and working as an efficient and effective team. This is an example of: