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PMP Q&A
PMP questions and answers
| Question | Answer |
|---|---|
| How many process groups does the PMBOK recognize? | 5 |
| Name the Process Groups | 1-Initiate Process Group 2-Planning Process Group 3-Executing Process Group 4-Monitor and Control Process Group 5-Closing Process Group |
| How many knowledge areas are there? | 9 |
| What are the Knowledge Areas? | 1-Integration 2-Scope 3-Cost 4-Time 5-Risk 6-Quality 7-HR 8- Communication 9-Procurement |
| Define Project | A unique and finite endeavor -(never been done, has an end result, has a beginning and end) |
| Define Project Management | The application of knowledge, skills, tools, and techniques used to successfully complete a project |
| Name the project constraints | 1- Scope 2-Time 3-Cost 4-Resources 5-Quality 6-Risk |
| What is the primary purpose of the PMBOK Guide? | To identify that subset of the Project Management Body of Knowledge that is generally recognized as good practice. |
| What is a project? | A temporary endeavor undertaken to create a unique product, service or result. |
| What is a program? | A group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside of the scope of the discrete projects in the program. |
| What can projects create? | A product or artifact, a capability to perform a service, or a result (outcomes or documents). |
| What does managing a project include? | Identifying requirements, establishing clear and achievable objectives, balancing the competing demands for quality scope, time, cost and adapting the specifications, plans and approach to the different concerns and expectations of the various stake. |
| What is a project life cycle? | A collection of generally sequential project phases whose name and number are determined by the control needs of the organization or organizations involved in the project. |
| What do project life cycles generally define? | What technical work should be done in each phase, when deliverable's are to be generated, who should be involved in each phase, and how to control and approve each phase. |
| What are the three distinct components of the process model used by PMI? | Inputs, tools and techniques, and outputs. |
| What does project integration management include? | The processes and activities needed to identify, define, combine, unify and coordinate the various processes and project management activities. |
| What defines and project's completion? | On time, within budget, at performance or specification level, with customer acceptance. |
| What are the triple constraints? | Time, cost and scope. |
| What is scope? | Anything that takes time or costs. |
| What is product scope? | What the customer wants. |
| What is project scope? | What it takes to give the customer what they want. |
| What are the inputs to developing a project charter? | 1-Contract 2-Project statement of work 3-Enterprise environmental factors 4- Organizational process assets |
| What are the tools and techniques of developing a project charter? | 1-Project selection methods 2-Project management methodology 3-Project management information system 4-Expert Judgement |
| What is the project charter? | A document that formally authorizes the project. |
| In what Process Group is expert judgement NOT included? | Executing |
| Which items (tools) occur in all processes in Project Management integration? | Project Management Methodology and Project Management Information System. |
| What is the output of Develop Project Charter? | The Project Charter |
| Who prepares the Charter? | The Sponsor |
| Which benefit measurement method is the exact length of time needed for a firm to recover its initial investment as calculated from cash inflows? | Payback Period (least precise) |
| Which benefit measurement method determines the point at which cash outflows and cash in-flow become equal? | Break-even Analysis (major milestone in business) |
| Which benefit measurement method is the value of a future investment in today's dollar value? | NPV (Net Present Value)- The present values are added together to produce a sum of the present values. The initial investment is then subtracted from the sum of the present values. The result is the NPV (net present value) . Ideally, NPV should be >0. |
| Which benefit measurement method is the amount, in terms of a percentage rate, that a project can be expected to return for the investment? | Internal Rate of Return (IRR). Similar to opening a bank account. The higher the IRR, the better. |
| Which benefit measurement method is an allocation of costs of assets to expense over the life of assets? | Depreciation |
| What is depreciation? | A decrease in value of assets |
| What is a deliverable? | A measurable, verifiable work product such as a specification, feasibility study report, detailed design document, or working prototype. |
| What is the project management system? | The set of tools, techniques, methodologies, resources, and procedures used to manage a project. |
| What does the project management plan describe? | How the project management systems will be used. |
| What is project management? | The application of knowledge, skills, tools and techniques used to project activities and to meet project requirements. |
| Who created the plan-do-check-act cycle? | Kaizen |
| What is another name for the plan-do-check-act cycle? | Continuous improvement |
| What defines and authorizes the project or a project phase? | The Initiating Process Group |
| What defines and refines objectives, and plans the course of action required to attain the objectives and scope that the project was undertaken to address? | The Planning Process Group |
| What integrates people and other resources to carry out the project management plan for the project? | The Executing Process Group |
| What regularly measures and monitors progress to identify variances from the project management plan so that corrective action can be taken when necessary to meet project objectives? | The Monitoring and Controlling Process Group |
| Which Process Group consists of the processes that facilitate the formal authorization to start a new project or project phase? | The Initiating Process Group |
| What formalizes acceptance of the product, service or result and brings the project or project phase to and orderly end? | The Closing Process Group |
| Which of the following is not a part of a project file? A. Change management documentation B. Project calendars C. Project management plan D. Project deliverables | D. Project deliverables |
| Vendor selection and management and documentation of lessons learned are tasks that fall under this process area: | C. Conduct Procurement's |
| Which process group corresponds to the “act” component of the plan-do-check-act cycle? | Monitoring and Controlling |
| Which of the following is not a valid instance of Risk Transference? A. Use of a Cost Reimbursable contract B. Warranties C. Fixed Price contracts D. Performance bonds | A. Use of a Cost Reimbursable contract |
| You have overheard two functional managers arguing about the impacts that your project will have on their departments. What is your best response? | Analyze and report to each manager the impact your project will have on their departments in terms of time and resources required, and the relative enterprise priority of your project. |
| Bill is the project manager of a software project that is originally estimated to complete in 12 months.. The Estimate at Completion (EAC) in such a project will be: | EAC = AC + Bottom-up ETC |
| Which of the following is not an example of a work performance report? A. Status report B. Project charter C. Project update memo D. Project recommendations | B. Project charter |
| Which chart type would best illustrate the project resources that will be working on each work package? | RACI chart |
| What does PV stand for? | Planned value |
| What does EV stand for? | Earned value |
| What does AC stand for? | Actual Cost |
| What does BAC stand for? | Budget at completion |
| What does EAC stand for? | Estimate at completion |
| What does ETC stand for? | Estimate to complete |
| What does VAC stand for? | Variance at completion |
| What does CV stand for? | Cost Variance |
| What does CPI stand for? | Cost performance index |
| What does SV stand for? | Schedule variance |
| What does SPI stand for? | Schedule performance index |
| What does TCPI stand for? | To-Complete performance index |
Created by:
CVervaecke