PMP Practice Test Review

These flashcards summarize key concepts and details crucial for preparing for the PMP exam.

What do risk responses reflect in an organization?

An organization's perceived balance between risk taking and risk avoidance.

What is the degree, amount, or volume of risk that an organization is willing to withstand called?

Risk tolerance.

What is a temporary endeavor that creates a unique product or service?

A project.

The scope management plan is a subsidiary of which project document?

The project management plan.

What strategic consideration involves the development of a new project due to industry improvements?

Technological advance.

In which Project Management Process Group is the project charter developed?

Initiating.

What is an example of a risk symptom?

Failure to meet intermediate milestones.

Where are the scope management plan and scope baseline contained?

The project management plan.

What input provides guidance on how stakeholders can best be involved in a project?

Stakeholder management plan.

What tool is used to determine if work and deliverables meet requirements?

Inspection.

What is the primary use of the probability and impact matrix?

Evaluate each risk's importance and priority during Perform Qualitative Risk Analysis.

What is the risk rating if the probability of occurrence is 0.30 and the impact is moderate (0.20)?

0.06.

Which strategy is used to deal with risks with negative impacts?

Transfer.

Where are product requirements and characteristics documented?

Product scope description.

What document describes the project's purpose, measurable objectives, milestones, and budget?

Project charter.

When is a project undertaken to reduce defects in a product or service termed an improvement?

Improvement.

What is a project selection technique?

Cost-benefit analysis.

Which activity is an input to the Conduct Procurements process?

Organizational process assets.

What documents the business needs and high-level requirements for a project?

Project charter.

Which tool or technique is used in the Acquire Project Team process?

Negotiation.

What does the product scope description document?

Characteristics of the product.

What defines a project lifecycle?

A collection of generally sequential and sometimes overlapping project phases.

What do most experienced project managers know about project management?

There is no single way to manage a project.

Who is responsible for initiating a project?

Project sponsor.

What is the project manager's responsibility in collaboration with the project team?

Tailoring the processes to fit the abilities of the organization.

What is an input to develop a preliminary project scope statement?

Organizational Process Assets.

Inputs to Identifying Stakeholders include which documents?

Project charter and organizational process assets.

What is an input to the Collect Requirements process?

Stakeholder register.

What should the project manager use to calculate the forecast of total project cost?

EAC.

What process defines how the project scope will be validated and controlled?

Plan Scope Management.

What is scope verification primarily concerned with?

Acceptance of the work deliverables.

The Identify Stakeholders process is found in which Process Group?

Initiating.

Which process selects Cost Management processes and their associated tools and techniques?

Project Life Cycle Definition.

Which diagram includes groups of information and shows relationships between factors, causes, and objectives?

Matrix diagram.

What is the Define Scope technique used to generate different approaches to execute the project?

Alternatives identification.

What does the diagram below typically represent in project management?

Risk breakdown structure (RBS).

What is an output of the Develop Project Team process?

Team performance assessments.

Who determines the risk shared between buyer and seller?

Contract type.

Identify Risks is part of which Process Group?

Planning.

What input provides information about internal or external parties related to the project?

Project charter.

Which type of analysis is a general management technique in Plan Procurements?

Make or buy analysis.

An output of the Manage Stakeholder Engagement process is?

Change requests.

Which categories do project contracts generally fall into?

Fixed-price, cost reimbursable, time and materials.

Which of the following defines a temporary project?

A project can be long in duration.

Which process involves determining and managing stakeholders' requirements to meet project objectives?

Collect Requirements.

What is the output of the stakeholder engagement process?

Change requests.

Which item is an example of personnel assessment?

Focus group.

What describes a documented identification of a flaw in a project?

Non-conformance report.

Which risk response strategy is applied through prototype development?

Mitigate.

Within project management, which contract type performance targets established at the onset?

Fixed-Price Incentive-Fee contract.

Why do milestones in project planning have zero duration?

They represent a moment in time.

Which processes and their associated tools are selected during Project Life Cycle Definition?

Cost Management processes.

Which factor impacts successful project management?

Every project requires a combination of processes.

Who selects processes for a project?

Project manager and project team.

What input is required to develop a preliminary project scope statement?

Organizational Process Assets.

What input includes documents related to enterprise environmental factors?

Stakeholder analysis.

What is a major output of the Monitor and Control Project Work process?

Performance reports.

In which process group does expert judgment play a critical role?

Control Scope.

What is the expected monetary value (EMV)?

Value of each possible outcome multiplied by probability of occurrence.

What is the cost baseline typically expressed as?

An S-curve.

What shows the organization structure of project team members?

Project organization chart.