CAPM - 7th Edition Practice Exam

The issues you are facing on your project could have been predicted if a formal risk management process was used. Which document would have been most useful to you along the entire risk management process, from identifying risks to planning and implementing responses to monitoring risks?

A Risk register

B List of risk triggers

C Risk mitigation

D Decision tree

The issues you are facing on your project could have been predicted if a formal risk management process was used. Which document would have been most useful to you along the entire risk management process, from identifying risks to planning and implementing responses to monitoring risks?

A Risk register

B List of risk triggers

C Risk mitigation

D Decision tree

Risk register - A risk register is a repository in which outputs of risk management processes are recorded. Information in a risk register can include the person responsible for managing the risk, probability, impact, risk score, planned risk responses, and other information used to get a high-level understanding of individual risks.

There is a complaint from your team that the requirements against which it will work are unclear. What are three criteria that well-defined requirements should meet? (Choose 3)

A. Consistent

B. Clear and concise

C. Verifiable

D. Challenging

E. Linked with milestones

A Consistent, B Clear and concise, C Verifiable , - To elicit means to draw out, bring forth, or evoke. There is more to collecting requirements than interviewing or conducting focus groups. Sometimes requirements are drawn out by analyzing data, observing processes, reviewing defect logs, or other methods. Part of eliciting requirements is documenting them and gaining stakeholder agreement. Well-documented requirements meet the following criteria: - Clear. There is only one way to interpret the requirement. - Concise. The requirement is stated in as few words as possible. - Verifiable. There is a way to verify that the requirement has been met. - Consistent. There are no contradictory requirements. - Complete. The set of requirements represents the entirety of the current project or product needs. - Traceable. Each requirement can be recognized by a unique identifier.

Team development has been problematic due to handling of assumptions. Team members reject the notion that assumptions reflect uncertainty. Others suggest exploring assumptions should be an integral part of team building, following the Drexler/Sibbet Team Performance Model. What is the best way to describe the assumption handling in this model?

A. A salesperson in charge has the responsibility of identifying all risks associated with a customer project.

B. By managing and organizing assumptions, you can avoid risks from the start.

C. A risk indicates uncertainty. Eliminating all uncertainties means a project would be risk-free.

D. Finding out more about assumptions should be an element of goal clarification by the team.

D. Finding out more about assumptions should be an element of goal clarification by the team. - Goal clarification answers what. In this stage, the project team elaborates the high-level project information. This may include finding out more about stakeholder expectations, requirements, assumptions, and deliverable acceptance criteria.

You were contacted this morning by a customer who complained about a member of your staff on customer's premises, complaining that they didn't fully blend in with her staff. In addition, she stressed that there are conflicts arising from different corporate cultures in her organization and yours. She requested that you motivate them to display greater stewardship. What is she referring to? (Choose 3)

A. Care

B. Respect

C. Diligence

D. Formal leadership

E. Tayloring

A,B,C, - Stewards act responsibly to carry out activities with integrity, care, and trustworthiness while maintaining compliance with internal and external guidelines. They demonstrate a broad commitment to financial, social, and environmental impacts of the projects they support. - Stewardship encompasses responsibilities within and external to the organization. - Stewardship includes: • Integrity, • Care, • Trustworthiness, and • Compliance. - A holistic view of stewardship considers financial, social, technical, and sustainable environmental awareness. Be a Diligent, Respectful, and Caring Steward.

In your project, locating members from different cultures in one place is not possible. How can you ensure that the dispersed team works effectively? (select 2)

A. Connect people through technology

B. Allow team members more time to connect virtually

C. Ensure identical working hours independent of time zones

D. Reduce burden from travelling

A Connect people through technology, B Allow team members more time to connect virtually, - When planning for the project team, the project manager considers the ability and necessity for the project team to work in the same location. Small project teams that can work in the same room are able to take advantage of osmotic communication and can solve problems as they arise. Some project teams are physically dispersed. Project team members may be in different cities, time zones, or countries. On projects where project team members work virtually, more time is spent connecting people through technology.

The measurement of team performance and product performance during a project came with a warning that measurement may affect the results. What is this measurement pitfall referred to?

A. Root cause analysis

B. Confirmation bias

C. Correlation vs. causation

D. Hawthorne effect

D. Hawthorne effect - The Hawthorne effect states that the very act of measuring something influences behavior. Therefore, take care in establishing metrics. For example, measuring only a project team's output of deliverables can encourage the project team to focus on creating a large volume of deliverables rather than focusing on deliverables that would provide higher customer satisfaction.

In order to build a food processing plant using agile product development, you need 100 identical valves custom-made for your project. Due to the risk of deterioration during processing, you placed demands on the quality of the valves' raw materials, so the production will be extremely expensive. If you are trying to cover the risk of a costly production failure, you add more testing to the backlog. How do you refer to this altered version of the backlog?

A. Zero-risk backlog

B. Issue-adjusted backlog

C. Risk-adjusted backlog

D. Extended backlog

C. Risk-adjusted backlog - A risk-adjusted backlog is a backlog that includes work and actions to address threats and opportunities

For your project, Phase gate is the approach you use. What should you consider?

A. When gates are used to eliminate weak members of a team, they are commonly known as kill points.

B. The order of phases must be strictly consecutive without overlapping in order to allow for gate reviews.

C. In a phase gate, the exit criteria of a previous phase are verified, then the criteria for entering the next phase are verified.

D. Phase gates approaching early is often a sign of poor planning.

B. The order of phases must be strictly consecutive without overlapping in order to allow for gate reviews. - Phase Gate. A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modification, or to end a project or program.

Agile methodology can be introduced as long as the suitability is evaluated and deemed to be high. Even when those criteria are met, organizational change can be difficult to navigate unless supported properly. Which of the following best describes an approach that is effective when starting to use agile methods in an organization or team?

A. Incremental introduction

B. Constant introduction

C. Sporadic introduction

D. Degressive introduction

A. Incremental introduction - Incremental introduction Introducing agile methods in an incremental manner is more effective than doing a full swap from traditional methods to agile. Incremental introduction supports organizational change by increasing the chances for success by ensuring that time is taken for on boarding. Degressive, sporadic, and constant introduction are fabricated terms, not genuine forms of agile introduction.

Which of the common agile team roles is responsible for guiding the direction of the product?

A. Team facilitator

B. Product owner

C. Scrum master

D. Cross-functional team member

B. Product owner - The product owner is responsible for guiding the direction of the product. Product owners rank the work based on its business value. Product owners work with their teams daily by providing product feedback and setting direction on the next piece of functionality to be developed/delivered. That means the work is small, often small enough to be described on one index card. The product owner works with stakeholders, customers, and the teams to define the product direction. Typically, product owners have a business background and bring deep subject matter expertise to the decisions. In agile, the product owners create the backlog for and with the team.

You are the project manager, and three of your team members are constantly arguing with each other. In order to resolve their latest conflict, you help them come to a conclusion that uses a little of each of their ideas. Which conflict management technique is being used in this scenario?

A. Withdraw/avoid

B. Force/direct

C. Collaborate/problem solve

D. Compromise/reconcile

C. Collaborate/problem solve - Collaborate/problem solve There are five general techniques for resolving conflict. Each technique has its unique place and use: -Withdraw/avoid: Retreating from an actual or potential conflict situation; postponing the issue to be better prepared or to be resolved by others. -Smooth/accommodate: Highlighting areas of agreement rather than areas of difference; conceding one's position to the needs of others to maintain harmony. -Compromise/ reconcile: Searching for solutions that bring some degree of satisfaction to all parties in order to temporarily or partially resolve the conflict. This is generally a lose-lose situation. -Force/direct: Pushing one's viewpoint at the expense of others; offering only win-lose solutions, usually enforced through a power position. This is often a win-lose situation. -Collaborate/problem solve: Incorporating multiple viewpoints and insights from differing perspectives; requires a cooperative attitude and open dialogue. This approach can result in a win-win station. While similar to smooth/accommodate, the conflict management technique being used in this scenario is collaborate/problem solve. Collaborate/problem solve is the technique used to get to the root of an issue so that it will lead to consensus and commitment.

All of the following are true about project phases and the project life cycle EXCEPT:

A. Stakeholder influences, risk, and uncertainty are greatest at the start of the project. These factors decrease over the life of the project.

B. The ability to influence the final characteristics of the project's product, without significantly impacting cost, is highest at the start of the project and decreases as the project progresses toward completion.

C. The cost of changes and correcting errors typically increases substantially as the project approaches completion.

D. Cost and staffing levels are generally steady throughout the project life cycle.

D. Cost and staffing levels are generally steady throughout the project life cycle. - Characteristics of the Project Life Cycle Project life cycles can be predictive or adaptive within a project life cycle, there are generally one or more pin phases that are associated with the development of the product service, or result. These are called a development life cycle. Development life cycles can be predictive, iterative, incremental, adaptive, or a hybrid model Explanation here is only provided for predictive and iterative life cycles. In a predictive life cycle, the project scope, time, and cost are determined in the early phases of the life cycle. Any changes to the scope are carefully managed Predictive life cycles may also be referred to as waleil.tll life cycles. In an iterative life cycle, the project scope is generally determined early in the project life cycle, but time and cost estimates are routinely modified as the project team's understanding of the product increases Iterations develop the product through a series of repeated cycles, while increments successively add to the functionality of the product. While project cost and staffing levels can be steady, for larger and complex projects, costs and staffing levels an subject to change and therefore not likely to be steady throughout the project life cycle .

What is the key benefit of the Direct and Manage Project Work process?

A. Production of a comprehensive document that defines the basis of all project work and how the work will be performed

B. Prior organizational knowledge is leveraged to produce or improve the project outcomes

C. Provides overall management of the project work and deliverables

D. Provides a direct link between the project and the strategic objectives of the organization

C. Provides overall management of the project work and deliverables - The key benefit of the Direct and Manage Project Work process is that it provides overall management of the project work and deliverables.

Which conflict resolution technique is being used in the scenario below? “I know that all of you keep telling me we need to hire two additional employees in order to get the work done in a timely manner; however, | am not going to do it, and that is my final decision.”

A. Compromise/reconcile

B. Collaborate/problem solve

C. Force/direct

D. Withdraw/avoid

C Force/direct - There are five general techniques for resolving conflict. Each technique has its unique place and use: -Withdraw/avoid: Retreating from an actual or potential conflict situation; postponing the issue to be better prepared or to be resolved by others. -Smooth/accommodate: Highlighting areas of agreement rather than areas of difference; conceding one's position to the needs of others to maintain harmony. -Compromise/reconcile: Searching for solutions that bring some degree of satisfaction to all parties in order to temporarily or partially resolve the conflict. This is generally a lose-lose situation. -Force/direct: Pushing one's viewpoint at the expense of others; offering only win-lose solutions, usually enforced through a power position. This is often a win-lose situation. -Collaborate/problem solve: Incorporating multiple viewpoints and insights from differing perspectives; requires a cooperative attitude and open dialogue. This approach can result in a win-win station. The conflict resolution technique being used in this scenario is force/direct, which is used to force one person’s viewpoint to the detriment of the viewpoints of others.

What is the definition of the Manage Communications process?

A. Developing an appropriate approach and plan for project communication activities based on the information needs of each stakeholder or group, available organizational assets, and the needs of the project

B. Developing approaches to involve project stakeholders based on the project's communication program

C. Ensuring the information needs of the project and its stakeholders are met

D. Ensuring timely and appropriate collection, creation, distribution, storage, retrieval, management, monitoring, and the ultimate disposition of project information

D. Ensuring timely and appropriate collection, creation, distribution, storage, retrieval, management, monitoring, and the ultimate disposition of project information - Manage Communications is the process of ensuring timely and appropriate collection, creation, distribution, storage, retrieval, management, monitoring, and the ultimate disposition of project information.

Organizing a project into incremental life cycles allows for faster delivery of value to customers. The speed at which the first delivery is made varies. Which of the following is the earliest possible value delivery period after a project is initiated using incremental life cycles?

A. Within days

B. Within 60 days

C. Within the first month

D. Within one week

A Within days - Some projects are able to deliver value within just days of project initiation. Others may require more time, which can range from one to several weeks.

An activity in a project network has the following characteristics: ES = 5, EF= 10, and LF = 14. Therefore, LS. =

A. 9.0 weeks.

B. 10.0 weeks.

C. 11.0 weeks.

D.12.0 weeks.

A 9.0 weeks - The critical path method, which is a method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model. This schedule network analysis technique calculates the early start, early finish, late start, and late finish dates for all activities without regard for any resource limitations by performing a forward and backward pass analysis through the schedule network, for example; the longest path includes activities A, C, and D, and therefore, the sequence of A – C – D is the critical path. The critical path is the sequence of activities that represents the longest path through a project, which determines the shortest possible project duration. On any network path, the schedule flexibility is measured by the amount of time that a schedule activity can be delayed or extended from its early start date without delaying the project finish date or violating a schedule constraint, and is termed total float. A CPM critical path is normally characterized by zero total float on the critical path. As implemented with PDM sequencing, critical paths may have positive, zero, or negative total float depending on constraints applied Any activity on the critical path is called a critical path activity. Positive total float is caused when the backward pass is calculated from a schedule constraint that is later than the early finish date that has been calculated during forward pass calculation. Negative total float is caused when a constraint on the late dates is violated by duration and logic. Schedule networks may have multiple near-critical paths. Many software packages allow the user to define the parameters used to determine the critical path(s). Adjustments to activity durations (if more resources or less scope can be arranged), logical relationships (if the relationships were discretionary to begin with), leads and lags, or other schedule constraints may be necessary to produce network paths with a zero or positive total float. Once the total float for a network path has been calculated, then the free float – the amount of time that a schedule activity can be delayed without delaying the early start date of any successor or violating a schedule constraint – can also be determined.

You are managing a healthcare software project with an initial budget of $500,000. Project activities thus far have cost $400,000, though your plan shows you should have spent $430,000 to complete them. You consult your schedule and see that the project activities are ahead of schedule. Which of the following is the CV and what does it say about the project?

A. -$30,000 - the project’s CV is negative and over planned cost

B. $30,000 - the project’s CV is positive and under planned cost

C. $430,000 - the project’s CV is positive and under planned cost

D. $400,000 - the project's CV is neutral and on planned cost

B. $30,000 - the project’s CV is positive and under planned cost - cost CV (Cost Variance) = EV (Earned Value) - AC (Actual Cost) $30,000 = $430,000 - $400,000 Since the CV is a positive figure, it means that the project is performing under the planned cost. The planned cost for activities thus far is $430,000, but only $400,000 has been spent to complete them, leaving a cost variance of $30,000.

All of the following are true about the project scope statement EXCEPT:

A. It is an output of the Validate Scope process.

B. It describes, in detail, the project’s deliverables and the work required to create those deliverables.

C. It provides a common understanding of the project scope among project stakeholders.

D. It may contain explicit scope exclusions that can assist in managing stakeholder expectations.

A. It is an output of the Validate Scope process. - The project scope statement is the description of the project scope, major deliverables, assumptions, and constraints. The project scope statement documents the entire scope, including project and product scope. It describes the project's deliverables in detail. It also provides a common understanding of the project scope among project stakeholders. It may contain explicit scope exclusions that can assist in managing stakeholder expectations. It enables the project team to perform more detailed planning, guides the project team's work during execution, and provides the baseline for evaluating whether requests for changes or additional work are contained within or outside the project's boundaries. The degree and level of detail to which the project scope statement defines the work that will be performed and the work that is excluded can help determine how well the project management team can control the overall project scope. The detailed project scope statement, either directly or by reference to other documents, includes the following: o Product scope description. Progressively elaborates the characteristics of the product, service, or result described in the project charter and requirements documentation. o Deliverables. Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project. Deliverables also include ancillary results, such as project management reports and documentation. These deliverables may be described at a summary level or in great detail. o Acceptance criteria. A set of conditions that is required to be met before deliverables are accepted. o Project exclusions. Identify what is excluded from the project; explicitly stating what is out of scope for the project helps manage stakeholders' expectations and can reduce scope creep.

Which of these is not one of the tools and techniques recommended in the Control Schedule process?

A. Performance Reviews

B. Monte Carlo Simulation

C. Variance Analysis

D. Schedule Compression

B. Monte Carlo Simulation - Monte Carlo Simulation Tools and technique used in the Control Schedule process include: -Data Analysis Techniques (earned value analysis, iteration burndown chart, performance reviews, trend analysis, variance analysis, what-if scenario analysis) -Critical Path Method -Resource Optimization -Leads and Lags -Schedule Compression Monte Carlo Simulation is a Quantitative Risk Analysis technique used during the Perform Quantitative Risk Analysis process. It uses optimistic, most likely, and pessimistic estimates to determine the total project cost and project completion dates. For example, you could estimate the probability of completing a project at a cost of $20 million. Or what if a company wanted to have an 80% probability of achieving its cost objectives. What is the cost to achieve 80%?

The buyer structures procurement documents, which include all of the following EXCEPT :

A. Procurement statement of work.

B. Bid documents.

C. Source selection criteria and independent cost estimates.

D. Control procurement documents.

D. Control procurement documents. - Procurement documentation provides a written record used in reaching the legal agreement, and may include older documents predating the current project. Procurement documentation can include the following: o Bid Documents. procurement documents include the RFI, RFP, RFQ, or other documents sent to sellers so they can develop a bid response. o Procurement statement of work. the procurement statement of work (SOW) provides sellers with a clearly stated set of goals, requirements, and outcomes from which they can provide a quantifiable response. o Independent cost estimates. independent cost estimates are developed either internally or by using external resources and provide a reasonableness check against the proposals submitted by bidders. o Source selection criteria. these criteria describe how bidder proposals will be evaluated, including evaluation criteria and weights. For risk mitigation, the buyer may decide to sign agreements with more than one seller to mitigate damage caused by a single seller having problems that impact the overall project.

Which statement below BEST describes Tailoring ?

A. Project documents that describe the activities used to determine if the product meets the quality objectives stated in the quality management plan.

B. A component of the resource management plan that describes when and how team members will be acquired and how long they will be needed.

C. Determining the appropriate combination of processes, inputs, tools, techniques, outputs, and life cycle phases to manage a project.

D. A partially complete document in a predefined format that provides a defined structure for collecting, organizing, and presenting information and data.

C. Determining the appropriate combination of processes, inputs, tools, techniques, outputs, and life cycle phases to manage a project. - Determining the appropriate combination of processes, inputs, tools, techniques, outputs, and life cycle phases to manage a project.