Which of the following does NOT assess the value a project brings to an organization?
A. Benefit cost analysis
B. Net present value
C. Value analysis
D. Needs assessment
Your management has decided that all orders will be treated as “projects” and that project managers will be used to update orders daily, to resolve issues, and to ensure that the customer formally accepts the product within 30 days of completion. Revenue from the individual orders can vary from US $100 to US $150,000. The project manager will not be required to perform planning or provide documentation other than daily status. How would you define this situation?
A. Because each individual order is a “temporary endeavor,” each order is a project.
B. This is program management since there are multiple projects involved.
C. This is a recurring process.
D. Orders incurring revenue over $100,000 would be considered projects and would involve project management.
A project manager in a predominantly hierarchical organization has been assigned a major project with aggressive timelines. The BEST approach for developing an initial project charter in this environment is to:
A. Create a project charter using brainstorming sessions with potential team members and
B. Create and present a draft project charter to potential team members and stakeholders to solicit their input.
C. Create a project charter jointly with management for distribution to potential team members and stakeholders.
D. Create a project charter with the functional managers and present it to the sponsor for signature.
All of the following are correct statements about a project manager EXCEPT:
A. He or she is assigned after the project charter is created.
B. He or she may initiate changes to the project.
C. He or she manages changes and factors that create change.
D. He or she is held accountable for project success or failure.
A new project manager is having difficulty creating a WBS with the team. To alleviate this situation, the project manager should ask for help from:
A. The sponsor.
B. Other project managers.
C. The project management office.
D. The team.
While preparing your risk responses, you realize that you have not planned for unknown risk events. You need to make adjustments to the project to compensate for unknown risk events. These adjustments are based on your past project experience when unknown risk events occurred and knocked the project off track. What should you do?
A. Include a management reserve in the budget to try to compensate for the unknown risks, and notify management to expect unknown risks to occur.
B. Document the unknown risk items and calculate the expected monetary value based on probability and impact that may result from the occurrence.
C. Determine the unknown risk events and the associated cost, then add the cost to the project budget as reserves.
D. With the stakeholders, determine a percentage of the known risk budget to allocate to a management reserve budget.
You are about to begin negotiations with people from another country. Which of the following should provide guidance on what business practices are allowed and not allowed?
A. The company code of conduct
B. The project charter
C. The scope management plan
D. The negotiation plan
An employee approaches you and asks to tell you something in confidence. He advises you that he has been performing illegal activities within the company for the last year. He is feeling guilty about it and is telling you in order to receive advice as to what he should do. What should you do?
A. Ask for full details.
B. Confirm that the activity is really illegal.
C. Inform your manager of the illegal activity.
D. Tell the employee to inform his boss.
What is one of the KEY objectives during contract negotiations?
A. Obtain a fair and reasonable price.
B. Negotiate a price under the seller’s estimate.
C. Ensure that all project risks are thoroughly delineated.
D. Ensure that an effective communications management plan is established.
You are a new project manager who has never managed a project before. You have been asked to plan a new project. It would be BEST in this situation to rely on during planning to improve your chance of success.
A. Your intuition and training
B. Stakeholder analysis
C. Historical information
D. Configuration management
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