TPV 1 Practice Test B(quizzes well answered)

A project selection method determines which proposed projects should be implemented by the organization. Which of the following is a common project selection method? ANSWER: Benefit measurement. Benefit measurement is a common project selection method that provides a means to compare the benefits obtained from project requests by evaluating them using the same criteria. The four common benefit measurement methods are cost-benefit analysis, scoring model, payback period, and economic model. You work as a project manager for uCertify Inc. You are working on the closure documents of a project. One of the newly joined team members wants to know who is responsible for signing off on the closure documents of a project. What will you reply? ANSWER: Project sponsor. The project sponsor is responsible to sign off on the closure documents of a project. The sponsor is an advisor to the project manager and acts as the tiebreaker decision maker when consensus cannot be reached among the stakeholders. Which of the following criteria of a project describes the statement below? "The characteristics of a project consist of assigning resources to complete the work of the project and assuring the results of the project to meet the quality standards outlined in the project plan". ANSWER: Resources and quality. The purpose of a project is to deliver one or more business products according to a specified business case. Projects have the following characteristics: • They are unique. • They are temporary in nature and have a definite beginning and ending date. • They are completed when the project goals are achieved. • Their success is measured by evaluating whether they meet or exceed expectations of the stakeholders. You work as a project manager for uCertify Inc., which is a matrix organization. You have to assign tasks associated with the project to the employees. One of the employees wants to know about the characteristics of a matrix organization. What will be your reply? ANSWER: Low to moderate authority for the project manager. A mix of full time and part time project resources. Better inter-departmental communication. A matrix organization is characterized by: • Low to moderate authority for the project manager. • A mix of full time and part time project resources. • Better inter-departmental communication. Business case validation includes which of the following? ANSWER: Aligning the project goals to the strategic plan. Performing a feasibility study. Justifying the tangible and intangible benefits of performing the project. Business case justification includes performing a feasibility study, justifying the tangible and intangible benefits of the project, and aligning the project goals to the strategic plan. All projects are comprised of nine knowledge areas. Which knowledge area contains the 'identifying project stakeholders ' process? ANSWER: Project communications management. Project communications management is the project management knowledge area that contains the identifying project stakeholder's process. From the following list, select those elements that represent the PMBOK Guide Knowledge Areas. ANSWER: Communications. Human resources. Procurement. The nine PMBOK Guide Knowledge Areas are Scope, Time, Cost, Quality, Human Resources, Communications, Risk, Procurement, and Integration. Which of the following processes includes all the activities that lead up to the final authorization to begin the project, starting with the original project request? ANSWER: Initiating. The initiating process includes all the activities that lead up to the final authorization to begin the project, starting with the original project request. This process can be formal or informal, depending on the organization. The closing process group is the last set of processes that you will perform for the project. In this process, you prepare a closing documentation. What is the main purpose of this documentation? ANSWER: To identify the project's strengths and weaknesses equally. The closing process group is the process of documenting the formal acceptance of the project work and handing off the completed product to the organization for ongoing maintenance and support. A closing document is used in the closing process group, and the main purpose of closing documentation is to identify the project's strengths and weaknesses equally. During the planning process group, a project manager receives many requests to make changes in a project. Which of the following did the project manager fail to complete? ANSWER: Stakeholder analysis. Stakeholder analysis is the identification of stakeholder needs, wants, and expectations. It involves documentation, prioritization, and quantification of the needs that help in defining the project scope. Therefore, if a project manager does not complete the stakeholder analysis or properly analyze the stakeholder needs, wants, and expectations, it is inevitable that the project will have to undergo some changes. The Initiating process group includes which important task? ANSWER: Approving the project and authorizing work to begin. The Initiating process group involves both the formal acceptance of the project and the authorization for the project manager to start the work. The other options are important tasks undertaken during the Planning phases. In project management, the process of taking high-level project requirements and breaking them down into the tasks that will generate the deliverables is called what? ANSWER: Decomposing. Decomposition is the process of analyzing the requirements of the project in such a way that you reduce the requirements down to the steps and tasks needed to produce them. You are a project manager for a medium-sized project. Some of the stakeholders, not including the project sponsor, have asked to meet with you as a group. They tell you that they're not happy with the deliverables, even though the acceptance criteria for each requirement have been met. They want you to immediately kill the project because any further expenditure of resources would simply be throwing good money after bad. What do you tell them? ANSWER: You should schedule a meeting with the stakeholders and the project sponsor before canceling the project prior to completion. Since the sponsor isn't involved in these conversations, you're not authorized to cancel the project until the sponsor tells you it's OK. You'll need to schedule a meeting with the stakeholders and the project sponsor and get to the bottom of their grievances and then take whatever action the sponsor requires. Which element of your project's scope document lists certain resources that will be available during the months of April through September while the project moves forward? ANSWER: Assumptions. Assumptions are things that are believed to be true. Stating that certain resources will be available during specific months of the project is an assumption. You work as a project manager for uCertify Inc. You have to perform targeted assessment of specific IT risks associated with a specific application. You are using the HLRA technique for accomplishing the above task. One of your new team members wants to know the reason behind using the HLRA technique. What will be your reply? ANSWER: It improves the level of confidence in system security. It reduces the cost and time element. High Level Risk Assessment(HLRA) performs targeted assessment of specific risks associated with a specific application. It attempts to use the 80 / 20 rule. This technique is used in risk assess