PMBOK Final questions with correct answers

You are the Project Manager for a large construction project. While reviewing the expenditures, you realize that you are 20% over budget. What process group are you working in? Correct Answer-Monitoring and Control What is the main benefit of a balanced matrix organization over a projectized organizational structure? Correct Answer-More efficient use of resources As the Sponsor on a large, multi-national hydroelectric power project, during the execution phase, your primary responsibilities are to: Correct Answer-Provide the financial resources and champion the project Name the 5 project management process groups. Correct Answer-Initiating, Planning, Executing, Monitoring & Control, Closing You are hired to manage an exciting new project for a software development company making CRM tools. You are unfamiliar with the project management resources available in the company. Who should you go to for help identifying the resources and best practices? Correct Answer-Project Management Office As you progress through the project life cycle: (risk and cost of changes) Correct Answer-Risk decreases and cost of changes increases The purpose of the closing process group is: Correct Answer-Formally complete the project In the Statement of Work you provide: Corr