CAPM Practice Test Series 5|25 Questions with Verified Answers,100% CORRECT

CAPM Practice Test Series 5|25 Questions with Verified Answers Whose job is to resolve the competing interests and goals between parties of a project? - CORRECT ANSWER Project Manager Of the following, who is responsible for providing the funding of the project? - CORRECT ANSWER Sponsor A workaround is: - CORRECT ANSWER A response to an unplanned risk event As project manager, you have made the decision to outsource a part of your project to an outside organization with whom you have never worked before. You are apprehensive and want the best outcome for the project. You are the contract negotiation phase. What should be your goal in the contract negotiation? - CORRECT ANSWER Arriving at mutually agreeable terms for the contract between your organization and the subcontracting organization The activity list should include: - CORRECT ANSWER All of the schedule activities defined in the project You found out that the schedule variance for your project is $0.00. What MUST be true for your project? - CORRECT ANSWER The earned value must be equal to the planned value A list of risks that could affect a project is developed in which part of process? - CORRECT ANSWER Identify Risks Which of the following statements are true regarding the stakeholders in a project? - CORRECT ANSWER Stakeholder may positively or negatively impact a project Mike is managing a project to construct 50 miles of highway at an estimated cost of 2 million USD per mile. Mike has projected that the project should be completed in 10 weeks. What is the planned value at the end of 4th week of the project? - CORRECT ANSWER $ 40,000,000 Elina is the project manager of an international project. The customer is very particular on timely delivery. For one particular week, she has an unfavourable project status to present to the customer. However, she is aware that the project will be back on track by next week. The customer, of course, will not be pleased with the status of the report and likely to overreact. How should Elina handle this situation? - CORRECT ANSWER Report the actual status to the customer Schedule activities are a further decomposition of which of the followings: - CORRECT ANSWER Work packages Cost estimating should be performed: - CORRECT ANSWER After the work breakdown structure is created and before the budget is developed Defective deliverables are repaired as part of which process in Integration Management knowledge area? - CORRECT ANSWER Direct and Manage Project Work Which one of the following is most desired responsibilities expected from a project manager? - CORRECT ANSWER To deliver the project within the project's constraint Which process focuses on a list of activities needed to produce the deliverables and sub-deliverables as described in the work break down structure? - CORRECT ANSWER Define Activities You have a friend in another organization who has shared with you that he is having difficulty in managing the scope of the project. He is not aware of the best practices available to manage the scope and struggling due to that. His boss does not believe in formal training on management and demands not to spend unnecessary time in any activity other than project specific deliverables. What will be your MOST appropriate action? - CORRECT ANSWER Mentor your friend on the value of project management process and ask him to influence his boss An activity has duration of 5 days. If you delay this activity 2 days, then it will impact the subsequent activity. What is the term used for it in PMBOK? - CORRECT ANSWER Free float All of the following are Organizational Process Assets EXCEPT: - CORRECT ANSWER Strong organizational skills You have received report showing that your overall schedule performance index is 1.2. How will you interpret the information? - CORRECT ANSWER You are earning value at a rate of 1.2 times the rate you had planned Project closure is an operation which is performed: - CORRECT ANSWER At the end of the project or end of a phase Which of the following is true regarding Risk Management? - CORRECT ANSWER Identified risks should be added to the risk register You have worked with a huge project for an external customer and have contributed substantially. The project has completed successfully. At the end of the project you have been assigned by your organization to a new project. This project is for a new customer. You realize that the earlier work breakdown structure used in the previous project will be very helpful in this case. You have not signed any non disclosure agreement with the previous company and the use of this also will not be known to them. What should you do? - CORRECT ANSWER Inform your previous customer regarding it and request for their permission to use it A project is considered to be successfully complete when: - CORRECT ANSWER All the work has been done within the defined sets of constraint The PI matrix is one of the most useful concepts in Risk Management. In which one of the following processes it is first produced? - CORRECT ANSWER Perform Qualitative Risk Analysis Which of the following is NOT an output of Control Costs? - CORRECT ANSWER Cost Baseline