1. You are thinking of purchasing a software product from a relatively young organization. They have been in business less than 2 years. This is a cutting edge financial product that would put you at least 18 months ahead of all competitors in your market space. However, your concern is that if you purchase software from them, there is a possibility that they may go out of business and you would lose the investment in the software. You ask the company to outright purchase the software code, but the company has rejected this as an option. What is your BEST option moving forward if the company's survivability is an issue?
A. Contract it as a work made for hire
B. Set up a code escrow arrangement
C. Offer to buy the company
D. Look for viable alternatives
Answer: B, A code escrow arrangement will protect the seller and the buyer. If the seller goes out of business, the buyer will have access to the code for continuing support of the product. Otherwise, the code stays in escrow.
2. you have identified a number of defects related to a component needed for a project deliverable. The project manager has asked you to determine the impact of each defect in a meaningful way. What should you do?
A. Create a histogram
B. Create a scatter diagram
C. Create a run chart
D. Create a central chart
Answer: A, Creating a histogram can help you determine the impact of each defect by quantitatively charting the results as bars. The longer or higher the bar, the greater the impact of the defect.
3. Helen, Irene and John make up an organization's review committee for a project they are working on. They have received responses from various vendors to the procurement document package and are formally reviewing prospective vendors according to their capabilities to successfully complete the conditions of the contract. They have been authorized to select vendors prior to senior management approval. Which action is the review committee currently undertaking?
A. Bidder conference
B. Approved change requests review
C. Documentation review
D. Proposal evaluation
Answer: D, The review committee is formally evaluating proposals to the procurement document package submitted by vendors and selecting a vendor. This evaluation is done prior to getting approval from senior management.
4. You are creating the budget for a project you are managing and you need to review the assumptions related to the activity costs. Which item is the BEST source of this information?
A. Reserve analysis
B. Project funding requirements
C. The risk register
D. Basis estimates
Answer: D, The basis of estimates is a documented record of how you arrived at activity cost estimates. This is important because it identifies any assumptions made. For example, the cost of a required resource could be based on the availability of the resource at a particular time.
5. You are a project manager for a major tire distributor, and you are monitoring your team's performance for the summer tire campaign project. You are currently involved in the control communications process. Which information is distributed as part of this process?
A. Resource calendars
B. SWOT analysis
C. Work performance information
D. Activity resource requirements
Answer: C, The control communications process deals with gathering and distributing information to the required individuals. This information includes information such as forecasts, variances, and project status.
6. You are a project manager for a small consulting company. You are tasked with completing a project to integrate three new servers into the customer's current server infrastructure, as well as retire two of the servers being replaced. You are performing this project under contract, and are currently in the close procurements process. All outstanding claims and issues have been addressed. Which following BEST describes what you currently need to document?
A. procurement audits
B. Stakeholder feedback
C. Formal acceptance
D. Final project report
Answer: C, The project manager is the individual responsible for documenting the formal acceptance of the work specified in the contract. In cases where a project is carried out under contract, the task of documenting formal acceptance should be completed during the close procurements process. This would only occur after all outstanding claims and disputes have been settled.
7. You are the project lead overseeing a project to create a new wireless media streaming device. An LCD display was used that does not match the original project scope. During a stakeholder meeting, the customer expresses that they are upset and the screen should be changed. Your CEO is worried about the costs associated with the replacement of the screens and believes the product is fine as it is. Functional managers are concerned about the additional time it will take the workers to replace the screens and suggest a revised model slightly after product release. Other upper management suggests releasing a standard version with the current LCD and a deluxe model with another LCD. As the manager, you need to settle this dispute. It whose favor should this dispute be resolved?
A. Upper management
B. The customer
C. Functional managers
D. your CEO
Answer: B, Always Dispute favor to the customer.
8. You are managing new staff members who are working on a particular procurement. On your personal schedule for the day, you have a meeting set up to meet with the new staff. You arrive in the meeting room to discover that no staff members have arrived. After waiting thirty minutes, you leave to attend another meeting. The next day you meet with a couple of members from the staff and ask why they did not show up at the meeting. They mentioned that they were not aware that they had to attend any meetings. Which documents should have outlined the meeting requirement?
A. Project charter
B. Procurement statement of work
C. Resource calendar
D. Project statement of work
Answer: B, The procurement statement of work needs to clearly outline all the work required for the procurement, including required meetings.
9. You are the project lead overseeing a project to create a new wireless media streaming device. The working model has been created and you are meeting with the customer to ensure that it meets the requirements. Upon inspection, the customer informs you that the LCD output screen does not meet the specifications. Which result from this problem is MOST likely to occur?
A. A change request
B. A close project or phase
C. A contract change
D. An administration claim
Answer: A, Inspection, as described in this scenario, is plan of the validation scope process. In the event that the customer is not satisfied with the results of a project after an inspection, a change request to fix the issue is submitted.
10. You have completed the planning of your project and project work is being carried out. Which activity should you be doing while executing the project?
A. Watching out for non-critical risks increasing in importance
B. Checking the variation of the results with the scope baseline
C. Checking the compliance of each work product
D. monitoring payments made to the sellers
Answer: A, Watching out for non-critical risks increasing in importance would be considered a risk response activity. Managing risks and implementing risk response activities is part of the Direct and Manage Project work process, which is part of Executing Process Group.
A. Contract it as a work made for hire
B. Set up a code escrow arrangement
C. Offer to buy the company
D. Look for viable alternatives
Answer: B, A code escrow arrangement will protect the seller and the buyer. If the seller goes out of business, the buyer will have access to the code for continuing support of the product. Otherwise, the code stays in escrow.
2. you have identified a number of defects related to a component needed for a project deliverable. The project manager has asked you to determine the impact of each defect in a meaningful way. What should you do?
A. Create a histogram
B. Create a scatter diagram
C. Create a run chart
D. Create a central chart
Answer: A, Creating a histogram can help you determine the impact of each defect by quantitatively charting the results as bars. The longer or higher the bar, the greater the impact of the defect.
3. Helen, Irene and John make up an organization's review committee for a project they are working on. They have received responses from various vendors to the procurement document package and are formally reviewing prospective vendors according to their capabilities to successfully complete the conditions of the contract. They have been authorized to select vendors prior to senior management approval. Which action is the review committee currently undertaking?
A. Bidder conference
B. Approved change requests review
C. Documentation review
D. Proposal evaluation
Answer: D, The review committee is formally evaluating proposals to the procurement document package submitted by vendors and selecting a vendor. This evaluation is done prior to getting approval from senior management.
4. You are creating the budget for a project you are managing and you need to review the assumptions related to the activity costs. Which item is the BEST source of this information?
A. Reserve analysis
B. Project funding requirements
C. The risk register
D. Basis estimates
Answer: D, The basis of estimates is a documented record of how you arrived at activity cost estimates. This is important because it identifies any assumptions made. For example, the cost of a required resource could be based on the availability of the resource at a particular time.
5. You are a project manager for a major tire distributor, and you are monitoring your team's performance for the summer tire campaign project. You are currently involved in the control communications process. Which information is distributed as part of this process?
A. Resource calendars
B. SWOT analysis
C. Work performance information
D. Activity resource requirements
Answer: C, The control communications process deals with gathering and distributing information to the required individuals. This information includes information such as forecasts, variances, and project status.
6. You are a project manager for a small consulting company. You are tasked with completing a project to integrate three new servers into the customer's current server infrastructure, as well as retire two of the servers being replaced. You are performing this project under contract, and are currently in the close procurements process. All outstanding claims and issues have been addressed. Which following BEST describes what you currently need to document?
A. procurement audits
B. Stakeholder feedback
C. Formal acceptance
D. Final project report
Answer: C, The project manager is the individual responsible for documenting the formal acceptance of the work specified in the contract. In cases where a project is carried out under contract, the task of documenting formal acceptance should be completed during the close procurements process. This would only occur after all outstanding claims and disputes have been settled.
7. You are the project lead overseeing a project to create a new wireless media streaming device. An LCD display was used that does not match the original project scope. During a stakeholder meeting, the customer expresses that they are upset and the screen should be changed. Your CEO is worried about the costs associated with the replacement of the screens and believes the product is fine as it is. Functional managers are concerned about the additional time it will take the workers to replace the screens and suggest a revised model slightly after product release. Other upper management suggests releasing a standard version with the current LCD and a deluxe model with another LCD. As the manager, you need to settle this dispute. It whose favor should this dispute be resolved?
A. Upper management
B. The customer
C. Functional managers
D. your CEO
Answer: B, Always Dispute favor to the customer.
8. You are managing new staff members who are working on a particular procurement. On your personal schedule for the day, you have a meeting set up to meet with the new staff. You arrive in the meeting room to discover that no staff members have arrived. After waiting thirty minutes, you leave to attend another meeting. The next day you meet with a couple of members from the staff and ask why they did not show up at the meeting. They mentioned that they were not aware that they had to attend any meetings. Which documents should have outlined the meeting requirement?
A. Project charter
B. Procurement statement of work
C. Resource calendar
D. Project statement of work
Answer: B, The procurement statement of work needs to clearly outline all the work required for the procurement, including required meetings.
9. You are the project lead overseeing a project to create a new wireless media streaming device. The working model has been created and you are meeting with the customer to ensure that it meets the requirements. Upon inspection, the customer informs you that the LCD output screen does not meet the specifications. Which result from this problem is MOST likely to occur?
A. A change request
B. A close project or phase
C. A contract change
D. An administration claim
Answer: A, Inspection, as described in this scenario, is plan of the validation scope process. In the event that the customer is not satisfied with the results of a project after an inspection, a change request to fix the issue is submitted.
10. You have completed the planning of your project and project work is being carried out. Which activity should you be doing while executing the project?
A. Watching out for non-critical risks increasing in importance
B. Checking the variation of the results with the scope baseline
C. Checking the compliance of each work product
D. monitoring payments made to the sellers
Answer: A, Watching out for non-critical risks increasing in importance would be considered a risk response activity. Managing risks and implementing risk response activities is part of the Direct and Manage Project work process, which is part of Executing Process Group.
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