CAPM Exam Study 2024 Complete Questions And 100% Verified Guaranteed Answers.

You are evaluating the dependencies that exist currently within your risk management plan to determine its accuracy. Which of the following is best described as an action to verify that all risks have been identified, that plans have been created to handle risks, and that the individuals responsible for responding to the risks are prepared to take action? A Risk reassessment B Reserve analysis C Workaround D Risk audit - correct answer Correct answer: Risk audit A risk audit is an action to verify that all risks have been identified, that plans have been created to handle risks, and that the individuals responsible for responding to the risks are prepared to take action. Basically, a risk audit examines and documents the effectiveness of the risk responses. This is in relation to dealing with the root causes and identified risks. The risk audit also evaluates the effectiveness of the risk management process. A workaround is an unplanne d response that is created to handle unexpected problems on a project. A risk reassessment is an action taken to periodically review and adjust the documentation of the risk management plan and risk register. A reserve analysis is a review of the project's financial resources to compare the current balance against the projected amount needed. You are a project manager for a very large company and have taken over a new project that was in the middle of execution. You would like to see which stakeholders have the greatest influence over your project. Where is the best place to find this information? - correct answer Correct Answer: Stakeholder register It is in the stakeholder register that a project manager would find which stakeholders have been identified as having the greatest influence over a project. The stakeholder register will also contain details about particular stakeholders to help understand what knowledge they may have. It also captures the requirements and various expectations they may have for the project. Shanda decided to use an iterative planning technique as a way to work a form of progressive elaboration on her project. Rolling wave planning is an iterative planning technique that she explored and decided to utilize. Which of the following is rolling wave planning not applicable to? A Work packages B Cost analysis C Planning packages D Release planning - correct answer Correct answer: Cost analysis Rolling wave planning is an iterative planning technique applicable to work packages, planning packages, and release planning when using an Agile or waterfall approach. Rolling wave planning involves a detailed plan of the work to be completed in the near term. The work in the future is planned at a much higher level. Rasheed is the lead project manager for a telecommunications organization and is in charge of training new project managers. One of the new project managers is assisting with managing the communications process. In evaluating the documents, he notices a document that does not belong in this process. Which of the following is not an example of a project document that would be an input to the Manage Communications process? A Lessons learned register B Resource management plan C Stakeholder register D Change log - correct answer Correct answer: Resource management plan The resource management plan is part of the project management plan, which is an input to the Manage Communications process. It is not a project document. The communications management plan includes components of the project, program, or portfolio management plan that describes how, when, and by whom information about the project will be administered and disseminated. Moira begins the event by illustrating the proposed iteration goals alongside reviewing the higher-priority stories. The development team discusses options for implementation, technical issues, dependencies, and other requirements. They choose the effort to be performed in the next iteration. What type of meeting does this best describe? A Phase review B Status review C Backlog planning D Iteration planning - correct answer Correct answer: Iteration planning An iteration planning meeting is used to clarify the details of the backlog items, acceptance criteria, and work effort required to meet an upcoming iteration commitment. An iteration planning meeting is also known as a sprint planning meeting. Iterations are timeboxed cycles of development on a product or deliverable in which all of the work that is required to deliver value is conducted. You have just implemented a risk response and will need to track its effectiveness. Which process improves the efficiency of the risk approach throughout the project lifecycle to continuously optimize risk responses? A Control Scope B Perform Integrated Change Control C Control Quality D Monitor Risks - correct answer Correct answer: Monitor Risks Monitor Risks is the process of monitoring the implementation of risk response plans, tracking identified risks, identifying new risks, and evaluating risk process effectiveness throughout the project. The key benefit of this process is that it allows for project decisions to be based on current information, not planned information, so risk response can be continually optimized. It has been a long 6 months of project execution, and you have just completed the last requirement for the project. Who is responsible for providing formal notice that a contract has been completed? A The stakeholders B The seller C The buyer D The project manager - correct answer Correct answer: The buyer A procurement contract is created between a buyer and a seller, and the seller is the one who is responsible for doing the work. Therefore, it is the buyer who must determine if the work has met their expectations. You have just been reassigned to a new project. As the project manager, which document would you refer to for information regarding how project requirements will be analyzed? A Requirements management plan B Scope management plan C Requirements traceability matrix D Requirements documentation - correct answer Correct answer: Requirements management plan As the project manager, you would refer to the requirements management plan. This plan is part of the project management plan that describes how requirements will be analyzed as well as documented and managed. The requirements traceability matrix is a grid that links product requirements with the deliverables that will satisfy the requirements. Requirements documentation contains a description of how each requirement will meet the business need of the project. The scope management plan describes how the project scope will be defined, developed, monitored and controlled, and verified. The high-energy project manager motivates and inspires their team members by encouraging them throughout the project. Which leadership style does this best represent? A Charismatic B Transactional C Transformational D Interactional - correct answer Correct answer: Charismatic The most common examples of leadership styles include, but are not limited to, the following: Charismatic: The main characteristics of a leader with a charismatic style include high energy, enthusiasm, strong belief, and self-confidence. These personality traits then carry persuasive power to the team or its followers. Laissez-faire: Interpreted as "hands-off," this project manager's leadership style tends to allow their team to lead themselves. Teams are left to make decisions, set goals, and implement their own ideas in completing the assigned tasks. Transactional: This style focuses on goals, feedback, and ways to determine the rewards a person gets. A project manager with a transactional style will usually be rigid in implementing rules, processes, and procedures. They will even implement something called reward and punishment so that the team is always disciplined in implementing the values it has created. Servant leader: A project manager with this style usually has traits such as a focus on others, growth, learning, shared prosperity, relationship orientation, and team collaboration. Transformational: This leadership style has characteristics such as empowering the team through ideal attributes and behaviors, inspirational motivation, encouraging innovation and creativity, and individual consideration. The main characteristic of the transformational leadership style is inspiration. Interactional: A combination of transactional, transformational, and charismatic. Project managers with an interactional style consider variables such as the work environment, corporate culture, market challenges, conflict and complexity, and the influence of leaders on the business. Carla is the project manager at a highly secured electrical facility. She is in the process of collecting processes, procedures, and historical information for the department's new electrical management and security project. The project is currently in which phase of the project management process? A Planning B Executing C Initiating D Monitoring & Controlling - correct answer Correct answer: Initiating The project manager is currently in the initiation phase of the project. Initiating is the processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase. The Initiating phase of the project management process includes the following: Selecting the project manager Determining company culture and existing systems Collecting processes, procedures, and historical information Dividing large projects into phases Understanding the business case Uncovering initial requirements, assumptions, and risks Assessing project and product feasibility within the given constraints Creating measurable objectives Developing the project charter Identifying stakeholders Identifying the appropriate focus for each stakeholder What is the process of identifying project stakeholders regularly and analyzing and documenting relevant information regarding their interest, involvement, interdependencies, influence, and potential impact on project success? A Manage Stakeholder Engagement B Plan Stakeholder Engagement C Identify Stakeholders D Monitor Stakeholder Engagement - correct answer Correct answer: Identify Stakeholders Identify Stakeholders is the process of identifying project stakeholders regularly and analyzing and documenting relevant information regarding their interest, involvement, interdependencies, influence, and potential impact on project success. This process enables the project team to identify an appropriate focus to engage stakeholders. Identify Stakeholders is a process that will be performed throughout the project as necessary. Manage Stakeholder Engagement is a process of communicating and working with stakeholders to meet their needs/expectations, address issues as they occur, and foster appropriate stakeholder engagement and project activities throughout the project lifecycle. Monitor Stakeholder Engagement is the process of monitoring project stakeholder relationships and tailoring strategies for engaging stakeholders through modification of engagement strategies and plans. Plan Stakeholder Engagement is the process of developing approaches to involve project stakeholders based on their needs, expectations, interest, and potential impact on the project. You are the project manager for a technology company working on a project to create a smaller, thinner cell phone design. You have a document