APM PMQ EXAM QUESTIONS WITH CORRECT ANSWERS

What should a business case include? - Answer B - Background O - Options B- Benefits CA - Commercial Aspects R - Risks T - Timescales What are the 5 aspects of the PRAM? - Answer Initiate Identify Assess Plan responses Implement responses What are the 5 phases in the extended project life cycle? - Answer Concept Definition Development Handover and Closure Operations Who are potential stakeholders within a project? - Answer Project Sponsor Project Team Users Suppliers Customers Senior Management What are the 5 steps within the information management process? - Answer Collection Storage Dissemination Archiving Destruction What are the steps of the requirements management process? - Answer Capture Analyse Justify Baseline What are the steps of the change control process? - Answer - Submit Change Request - Review viability of taking request further - Assessment of feasibility and impact of the proposed change - Decision What are potential sources of change? - Answer Internal: - Technical Error - Incorrect Estimate - Resourcing Issues External: - Business Justification - Requirements change - Technology/Market Shift What is the requirements model? - Answer Business Need (Why) Features (How) Requirements (What) Acceptance Criteria What are the steps of the configuration management process? - Answer Planning Identification Control Status Accounting Audit What are 2 types of breakdown structure? - Answer Work Breakdown Structure (WBS) Product Breakdown Structure (PBS) What is a Work Breakdown Structure (WBS)? - Answer a comprehensive list of all activities needed to complete a project. What is a Product Breakdown Structure (PBS)? - Answer This focuses on the deliverables that are needed to deliver the project. This can be broken down further into tasks within a WBS. What are 5 types of report? - Answer Progress Quality Risk Finance Audit What are 3 types of investment appraisal? - Answer Net present value (NPV) Payback Internal Rate of Return (IRR) What are the steps of the stakeholder management process? - Answer Identify Assess Develop Engage How do you calculate Earned Value (EV)? - Answer EV= %complete x Budget at completion How do you calculate Cost Variance (CV)? - Answer CV= Earned Value - Actual Costs How do you calculate Schedule Variance (SV)? - Answer SV= Earned Value - Planned Costs How do you calculate Cost Performance Index (CPI)? - Answer CPI = Earned Value / Actual Costs How do you calculate Schedule Performance Index (SPI)? - Answer SPI = Earned Value / Planned Costs How do you calculate Estimate at completion - cost (EACc)? - Answer EACc= Budget at Completion/Cost Performance Index How do you calculate Estimate at completion - time (EACt)? - Answer EACt= Planned Duration/Schedule Performance Index What does Earned Value Management tell you? - Answer - Schedule - Efficiency - Time to completion - Spend - Cost to completion - Actual forecast cost - Variance at completion