APM PFQ Exam Test Bank Actual Complete
Questions and 100% Correct Answers
(Proven Results)
• Risk in a Business case -✓✓the major risks and their impact on the business case.
• What a business case includes? (BOBCART) -✓✓Background, Options, Benefits,
Commercial Aspects, Risks, Timescales
• PRAM process -✓✓Initiate
Identify
Assess
Plan responses
Implement responses
• Risk management - Initiate -✓✓How the risk will be managed? (PMP, Risk
management plan)
• Risk management - Assess -✓✓how risky is each risk (Risk matrix, probability &
impact chart)
• Risk management - Identify -✓✓Use of Identification methods such as (risk logs,
brainstorming, meetings, Delphi)
• Plan responses -✓✓is this risk a threat or opportunity to the project? (SWAT Analysis)
• Implement -✓✓when the risk is added to the project plan, (PMP, risk log, Gannt chart)
• Extended project life cycle -✓✓Concept
Definition
Development
Handover and Closure
Operations
Benefits Realisation
Termination
• Who are potential stakeholders within a project? -✓✓Project Sponsor, Project Team,
Users , Suppliers, Customers, Senior Management
• Information management process -✓✓Collection, Storage, Dissemination, Archiving,
Destruction
, • Requirements management process - Capture -✓✓is a research exercise undertaken
early in a project to establish the scope and what is needed. (brainstorming, prototypes,
archived documentation)
• What are the steps of the change control process? -✓✓Submit Change, Review
change, Assess feasibility and impact, Decision
• What is the requirements model? -✓✓Business needs, features, requirements,
acceptance Criteria
• What are the steps of the configuration management process? -✓✓Planning,
Identification, Control, Status Accounting , Audit
• What are 2 types of breakdown structure? -✓✓WBS, OBS
• What is a Work Breakdown Structure (WBS)? -✓✓a comprehensive list of all activities
needed to complete a project.
• What is a Product Breakdown Structure (PBS)? -✓✓focuses on the deliverables
needed to deliver the project. This can be broken down further into tasks within a WBS.
• What are 5 types of report? -✓✓Progress
Quality
Risk
Finance
Audit
• What are 3 types of investment appraisal? -✓✓Net present value (NPV)
Payback
Internal Rate of Return (IRR)
• What are the steps of the stakeholder management process? -✓✓Identify
Assess
Develop
Engage
• How do you calculate Earned Value (EV)? -✓✓EV= %complete x Budget at
completion
• How do you calculate Cost Variance (CV)? -✓✓CV= Earned Value - Actual Costs
• How do you calculate Schedule Variance (SV)? -✓✓SV= Earned Value - Planned
Costs
Questions and 100% Correct Answers
(Proven Results)
• Risk in a Business case -✓✓the major risks and their impact on the business case.
• What a business case includes? (BOBCART) -✓✓Background, Options, Benefits,
Commercial Aspects, Risks, Timescales
• PRAM process -✓✓Initiate
Identify
Assess
Plan responses
Implement responses
• Risk management - Initiate -✓✓How the risk will be managed? (PMP, Risk
management plan)
• Risk management - Assess -✓✓how risky is each risk (Risk matrix, probability &
impact chart)
• Risk management - Identify -✓✓Use of Identification methods such as (risk logs,
brainstorming, meetings, Delphi)
• Plan responses -✓✓is this risk a threat or opportunity to the project? (SWAT Analysis)
• Implement -✓✓when the risk is added to the project plan, (PMP, risk log, Gannt chart)
• Extended project life cycle -✓✓Concept
Definition
Development
Handover and Closure
Operations
Benefits Realisation
Termination
• Who are potential stakeholders within a project? -✓✓Project Sponsor, Project Team,
Users , Suppliers, Customers, Senior Management
• Information management process -✓✓Collection, Storage, Dissemination, Archiving,
Destruction
, • Requirements management process - Capture -✓✓is a research exercise undertaken
early in a project to establish the scope and what is needed. (brainstorming, prototypes,
archived documentation)
• What are the steps of the change control process? -✓✓Submit Change, Review
change, Assess feasibility and impact, Decision
• What is the requirements model? -✓✓Business needs, features, requirements,
acceptance Criteria
• What are the steps of the configuration management process? -✓✓Planning,
Identification, Control, Status Accounting , Audit
• What are 2 types of breakdown structure? -✓✓WBS, OBS
• What is a Work Breakdown Structure (WBS)? -✓✓a comprehensive list of all activities
needed to complete a project.
• What is a Product Breakdown Structure (PBS)? -✓✓focuses on the deliverables
needed to deliver the project. This can be broken down further into tasks within a WBS.
• What are 5 types of report? -✓✓Progress
Quality
Risk
Finance
Audit
• What are 3 types of investment appraisal? -✓✓Net present value (NPV)
Payback
Internal Rate of Return (IRR)
• What are the steps of the stakeholder management process? -✓✓Identify
Assess
Develop
Engage
• How do you calculate Earned Value (EV)? -✓✓EV= %complete x Budget at
completion
• How do you calculate Cost Variance (CV)? -✓✓CV= Earned Value - Actual Costs
• How do you calculate Schedule Variance (SV)? -✓✓SV= Earned Value - Planned
Costs
