Random CAPM 60

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Question 1

Scenario

The Excel Company has decided to allocate all overhead costs to projects based on the number of employees assigned to the project. Part time assignments will be prorated. The company currently has an annualized overhead cost of $1 million and there are 500 employees involved in projects.

In the sample scenario above, if a project has 50 full time employees assigned for six months, what is the overhead cost the project must bear?



Question 2

Scenario:

A project manager must decide whether to purchase a $1 5,000 tool to improve the productivity of her six person team. She guesses that the likelihood of a 10% productivity gain for the six month project duration is 50%. The probability of a 5% in productivity is also 50%. The average team member cost is  $80,000 per year.

In the sample scenario above, what is the expected monetary value of purchasing the tool?



Question 3

Mandatory prerequisite(s) for team building is (are):



Question 4

A parametric cost estimate:



Question 5

Ideally, communication between the project manager and the project team members should take place:



Question 6

The time phased budget that will be used to measure and monitor cost performance on a project is the:



Question 7

What is an example of a product with high quality but low grade?



Question 8

Of the following conflict management approaches, which is believed to lead to the LEAST enduring positive results?



Question 9

Project sponsors have the GREATEST influence on the scope, quality, time, and cost of the project during the:



Question 10

Your project is behind schedule due to conflict between team members. Having resolved the conflict, to get the project back on schedule, you should consider:



Question 11

When a project manager places a purchase order for a piece of equipment, it represents which of the following?



Question 12

The project managers leadership style should be matched to the corresponding developmental level of the project team and should move through successive steps in the following order:



Question 13

Scenario:

Early start date = 1/4/99
Early finish date = 1/5/99
Late start date = 1/10/99
Late finish date = 1/11/99

If a task has the dates in the sample list above, what do we know about the task?



Question 14

Scenario:

A construction manager is estimating the amount of time to frame a house. The optimistic estimate is five days, the pessimistic estimate is 17 days, and the realistic estimate is eight days.

In the sample scenario above, what estimate would the construction manager use if she is using the PERT based estimating method?



Question 15

If the PV (BCWS) was 80,000, the EV (BCWP) was 75,000, and the AC (ACWP) was 71,000, what is the schedule variance?



Question 16

As a project manager, you know that the most important activity to ensure stakeholder satisfaction is



Question 17

Cost estimates include all of the following resource categories except:



Question 18

You've been engaged to manage a project. The estimated cost of the project is $1,000,000. The project sponsor has approved this amount. Your earned value calculations indicate that the project will be completed on time and under budget by $200,000. Based on this calculation, your personal profit will decrease by $2,000. At the completion of this project, the project manager will document and archive all project information.

This information may be used for future projects in all areas EXCEPT:



Question 19

Configuration management is any documented procedure used to apply technical administrative direction and surveillance to:



Question 20

Of the following four major processes contained in project cost management, which of the following choices would be concerned with the cost baseline?



Question 21

Scenario:

A Project manager reads that a vendor he intended to use for a project has declared bankruptcy. He decides that the risk of the vendor going out of business before the end of the project is significant, and decide to use another vendor.

In the sample scenario above, what risk strategy is the project manager using in managing the risk of the initial vendor going out of business ?



Question 22

Scenario :

The Delphi technique is a risk identification method used by project  managers to poll expert advice.

In the above sample scenario, what is a key characteristic of the Delphi technique ?



Question 23

Scenario

Project justification and background
Scope and objectives of the project
Organizational relationships and responsibilities
Description of project managers‟ authority
Resources availability
High level project schedule and costs
Major milestones
Management approval

What project document may contain a table of contents similar to the sample list above?



Question 24

The precedence diagramming method provides project managers with knowledge of:



Question 25

Which of the following is not a necessary input to cost budgeting?



Question 26

If seven people are intimately involved in the same task and must frequently communicate with each other, how many lines of  communication are there?



Question 27

Which of the following strategies will be most helpful in developing a good client relationship?



Question 28

Communication is the prime responsibility of a project:



Question 29

Scenario:

A specifications document was sent to the client representative two weeks ago for review and approval. The planned due date for approval or request for revisions was yesterday, and no comments or approvals were received from the client. The client representative is aware of the due date, as he approved the project plan.

In the sample scenario above, what client management strategy should the project manager use?



Question 30

Conflict resolution techniques that may be used on a project include:



Question 31

Which of the following choices would indicate that your project was 10 percent under budget?



Question 32

A scope statement is important because it:



Question 33

A precise description of a deliverable is called a:



Question 34

Of the following types of cost, which is not important in making a sound financial decision to halt or continue with a project?



Question 35

Cost control is concerned with:



Question 36

Historical results used in cost estimating may include:



Question 37

An order of magnitude estimate should give the manager an approximate accuracy of:



Question 38

Which of the following techniques is used to control the project  schedule?



Question 39

The measure used to forecast project cost at completion is:



Question 40

A Gantt chart is useful in determining:



Question 41

What is a sunk cost?



Question 42

A project was estimated to cost $1.5 million and scheduled to last six months. After three months, the earned value analysis shows the following:
BCWP = $650,000 BCWS = $750,000 ACWP = $800,000
What are the schedule and cost variances?



Question 43

In what way does free float (FF) differ from total float (TF)?



Question 44

 

Sally Woo is the project manager of a fixed price project  nearing completion. The project has been less profitable than  planned, but has not lost money. Team members worked 10- 20 hours of compensated overtime per week during the past month to complete the effort.

In the above sample scenario, what is an appropriate project close-down activity?



Question 45

The project manager is critical to project communication because:



Question 46

The MAJOR processes for project integration management are:



Question 47

The major processes of project communications management are:



Question 48

What is a category or rank given to entities having the same functional use but different requirements for quality?



Question 49

As part of the quality audit, the scope statement is checked against the work results to ensure the conformance to the customer  requirements. The results should be documented and used for:



Question 50

A change control board (CCB) is:



Question 51

Which of the following statements would be most likely to be associated with a compromise style of conflict resolution?



Question 52

A project coordinator may typically be found in a environment.



Question 53

Risk response development is intended to:



Question 54

Scenario:

Company XYZ has a fixed price contract to produce 10,000 widgets for a price of $100,000. An invoice will not be generated until all widgets are completed. The budgeted cost of  manufacturing the widgets is $9 per widget. All widgets were to be completed by today. Unfortunately, the project is behind schedule, and only 9,000 widgets have been completed. Actual manufacturing costs to date are $90,000.

In the above scenario, what is the cost variance?



Question 55

Present value is the calculation of:



Question 56

To decrease the total project duration for the least cost is called:



Question 57

A communication plan:



Question 58

Fast tracking in time management is:



Question 59

Scenario:

Company XYZ has a fixed price contract to produce 10,000 widgets for a price of $100,000. An invoice will not be generated until all widgets are completed. The budgeted cost of manufacturing the widgets is $9 per widget. All widgets were to be completed by today. Unfortunately, the project is behind schedule, and only 9,000 widgets have been completed. Actual manufacturing costs to date are $90,000.

In the above scenario, what is the earned value as of today?



Question 60

When it appears that a design error will interfere with meeting  technical performance objectives, the PREFERRED response is to: