1.
1. 1. While looking at the project
cost baseline graph shown below, a project manager sees that the stair-step
line´s last point is higher than the estimate at completion (EAC). What does
this relationship mean for the project?
a.
The Project is running over
budget.
b.
The management reserve is too
large.
c.
Total funding for the project
exceeds the project´s anticipated needs.
d.
The Project is behind schedule.
Answer: C; Total funding for the project exceeds the
project´s anticipated.
The project cost baseline graph
displays a time-phased view of the cost baseline along with funding requirements
and expenditures. The stair-stepped line on the graph represents the funding
requirements, which includes the cost baseline and the management reserve. The
project budget is represented by the last point of the stair-step line. The question
states that EAC (estimate at completion) is less than the project budget (the
top stair step). Therefore, in this scenario, total funding for the project
exceeds the project’s anticipated needs.
2. 2. Your company has just been awarded
the contract for a research project. The CEO of your company has asked you, as
the project manager, to create the project charter and send it to her so that
she can review and approve it. To create the project charter, you need the project’s
statement of work (SOW). What should you do?
a.
Create the SOW yourself since
you are the project manager.
b.
Look for the SOW in your
organizational process assets (OPAs)
c.
Ask your customer to provide you
with the SOW
d.
Ask your CEO to provide you with
the SOW
Answer:
C; Ask your customer to provide you with the SOW.
Since
your company has been awarded the contract, you would need the project's
procurement SOW agreed upon in the Conduct Procurements process for selecting a
seller or in the contract, if there is a signed agreement in place. Among the four-answer
choice, the best option is to ask the customer for the SOW. Asking the customer
(i.e., the buyer) for the SOW ensures you have the version that was approved
from the customer's perspective. In addition, collaborating with the initiating
company allows you to have a better understanding of the project purpose,
objectives, and expected benefits that will help in crafting the project
charter.
3. 3. A project manager is a leading a
project to investigate the feasibility of constructing a dam to generate
hydroelectric power. The project needs to be analyzed from technical, economic,
and social points of view. The project manager has created the project charter
on behalf of the project sponsor, and it is now approved. Which of the
following processes should be performed next?
a.
Develop
Project Management Plan
b.
Identify
Risk
c.
Identify
Stakeholders
d.
Develop
Project Charter
Answer: C; Identify Stakeholders.
The
Identify Stakeholders process is the process of identifying all people or
organizations impacted by the project and documenting relevant information
regarding their interests, involvement, and impact on project success. Both the
Develop Project Charter process and the Identify Stakeholders process are part
of the Initiating Process Group which should be completed before proceeding to
the project charter has been developed and approved, the Identify Stakeholders
process should be performed next.
4. 4. You are managing software
upgrade project for you company. Your project sponsor has a great deal of
authority regarding project decisions, but you recently discovered that he
doesn't have much interest in your project. To complete the project
successfully, you need your project sponsor's continuous support. What
stakeholder management strategy should you use with your project sponsor?
a.
Keep the sponsor satisfied
b.
Manage the sponsor closely
c.
Monitor the sponsor's actions.
d.
Keep the sponsor informed.
Answer: A; Keep the sponsor satisfied
A
power/interest grid is a classification model used for stakeholder analysis and
management that groups the stakeholders based on their level of authority
(power) and their level of concern (interest) regarding project outcomes. The
classification and recommended management strategies are as follows:
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