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The authorized time phased budget which you use to monitor and control the cost of the project is known as:
  1. Funding limit reconciliation
  2. EAC
  3. Cost baseline
  4. Schedule baseline

Q2. In a multi-phase project, the procurement team decided to close the procurements applicable to a particular phase of the project. What happens to unresolved claims?

  1. Unresolved claims are usually resolved at the end of all phases of the project.
  2. Unresolved claims are also closed when the procurements for that phase are closed.
  3. Unresolved claims remain open for a period of one year from closure of procurements.
  4. Unresolved claims may still be subject to litigation after closure.
Correct Answer

Q3. Project Team A has been hired to manage a transportation project very similar to dozens of projects the team has managed successfully in the past. The team has determined that the probability of achieving project objectives is 94 percent. What part of the risk process is the team in?

  1. Perform Qualitative Risk Analysis.
  2. Plan Risk Responses.
  3. Perform Quantitative Risk Analysis.
  4. Identify Risks.
Correct Answer

Q4. Which of the following aspects of planning is concerned with decomposing the work of a project into manageable chunks?

  1. Scope
  2. Schedule
  3. Cost
  4. Quality 6
Correct Answer

Q5. To help the project team function more efficiently on complex and interrelated activities, the project manager decides to use a war room. What does this mean?

  1. All the project records are kept in many locations
  2. The tools needed to accomplish the work are kept in one place with easy access by the team from various locations.
  3. The entire team is located in one area.
  4. The project’s entire senior management team is located in one area.
Correct Answer

Q6. You have been managing a research project to create genetically modified fruits using genetic engineering techniques. Since many legal issues are involved in this process, you created contingency allowances by using various quantitative analysis methods to account for cost uncertainty. You have just concluded a brainstorming session with your team in the execution phase to monitor risks that have developed in the project over the past few weeks and to establish new risk response plans. What should you do if you want to allocate more contingency reserves to account for new risks?

  1. Perform the reserve analysis to compare the amount of contingency reserves remaining to the amount of risk remaining
  2. Perform Monte Carlo analysis to compare the amount of contingency reserves remaining to the amount of risk remaining
  3. Perform the variance and trend analysis to compare planned results to the actual results
  4. Perform the quantitative risk analysis to determine the outstanding risks
Correct Answer

Q7. If a project has a 60 percent chance of a US $100,000 profit and a 40 percent chance of a US $100,000 loss, the expected monetary value for the project is:

  1. $100,000 profit
  2. $60,000
  3. $20,000 profit
  4. $40,000 loss
Correct Answer

Q8. What is the name of the process required to ensure timely and appropriate generation, collection, dissemination, and disposal of project information?

  1. Quality management
  2. Communications management
  3. Procurement management
  4. Scope management
Correct Answer

Q9. As the project manager, you are considering tools and techniques to help control changes to the project schedule. Which of the following would be acceptable options?

  1. An online system that routes change requests to the appropriate levels for authorization
  2. A paper form that requires a project stakeholder to submit the request in duplicate to the project manager for approval
  3. A system that allows rapid approval of all submitted changes
  4. An online system that routes changes manually to each required approver followed by impact analysis
Correct Answer

Q10. Based on the chart, if you needed to shorten the duration of the project, which activity would you to shorten?

  1. Activity B
  2. Activity D
  3. Activity H
  4. Activity C 39
Correct Answer

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