Gary is the project manager for his organization. The projects that Gary manages for project customers are often very similar in nature so Gary uses a schedule network template to help plan the project work. For Gary's current project, he has used a network template that includes just a portion of the project work adapted to the current project. When Gary uses a portion of a network template diagram this is called what term?
A. Analogous
B. Hanger
C. Fragment network
D. Parametric
Correct Answer: C
This is an example of a fragment network. By adapting the network template to the current project and just using a portion of the template, the template is fragmented. A schedule network diagram template is used to speed up the preparation of networks of project activities. It comprises of the whole project, or a portion of the project activity. The various parts or portions of a project schedule network diagram are known as a subnetwork or a fragment network. When projects have related necessities and components, project managers can develop more efficient network diagrams by using the schedule network diagram templates. Answer option D is incorrect. Parametric is an estimating technique that uses a parameter, such as $199 per installation, for a group of installation activities. Answer option A is incorrect. Analogous estimates use historical information to predict the cost or duration of the current project. Answer option B is incorrect. While this term, sometimes, describes a task within the project network diagram that does not connect to other paths, it is not a valid term.
Question 112:
You are the project manager of the GHY Project. This project is scheduled to last for one year and has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are upposed to be at your second milestone, which accounts for half of the project completion. There have been some errors in the project, which has caused you to spend $2,073,654. Based on the estimate at completion, what is this project's to-complete performance index?
A. -$108,120
B. 1.02
C. $4,608,120
D. 0.98
Correct Answer: D
The to-complete performance index when based on the estimate at completion uses the formula (BAC- EV)/(EAC-AC). In this instance, the answer is 0.98, which means the project is likely to reach its performance objectives. To-complete Performance Index (TCPI) is the measured projection of the anticipated performance required to achieve either the BAC or the EA C. TCPI indicates the future required cost efficiency needed to achieve a target EAC (Estimate At Complete).Once approved, the EAC supersedes the BAC as the cost performance goal. Any significant difference between TCPI and the CPI needed to meet the EAC should be accounted for by management in their forecast of the final cost. The formula for TCPI is as follows: TCPI = {(BAC-EV)/(BAC-AC)} Answer option B is incorrect. This is the value of TCPI using the BAC approach. Answer option C is incorrect. This is the estimate at completion for this project. Answer option A is incorrect. -$108,120 is the variance at completion
Question 113:
You work as a project manager for BlueWell Inc. You are going through a project with your project team. Some of your project team members are reporting that their activities are running late because there are lag times between activities that do not need to be there. You examine the schedule and see that the lag times have been incorporated into the project schedule for quality control reviews. You also learn that the quality control reviews are not being completed as planned. What is the best approach in this scenario?
A. Since the quality control inspections are not being completed, remove the lag time from the project.
B. Take corrective action and determine when the quality control inspection has happened so far in the project, perform quality control on the deliverables where the inspection was skipped, and ensure that quality control will happen from this point forward.
C. Since the quality control inspections are not being completed, take corrective action and ensure that the inspections continue from this point forward.
D. Discuss with the project team that the lag times should not affect the project schedule because they were built into the project schedule to begin with. Even if the quality control inspections were happening the time was allotted in the schedule for the inspections.
Correct Answer: B
The best answer is to make certain quality control happens in the project. This means reviewing past work and ensuring that future inspections are met.
Answer option A is incorrect. Removing the lag time does not solve the problem. It actually removes quality control requirements.
Answer option C is incorrect. Only inspecting future work for quality control ignores potential past quality issues in the project.
Answer option D is incorrect. While this answer is technically correct, it does not address the quality faults that may be creeping into the project deliverables.
Question 114:
You are the project manager of the NQQ project. You are working with your project team to create the activity duration estimates for the project. For each reported activity duration, your project team offers you an addition of five percent extra time for risks, errors, or aggressive estimating. What does Parkinson's Law state about this scenario?
A. Work expands to fulfill the amount of time allotted to it.
B. Risks will be allowed into activities in which management creates risk provisions.
C. Laborers will create errors when time has been allotted for errors to exist.
D. Errors will be allowed into assignments when management creates error opportunity.
Correct Answer: A
Parkinson's Law states that the work will expand to fulfill the time allotted to it. When you allow five percent additional time per activity the work will expand to consume the additional time that has been allotted to the project task. In other words, activities will not be completed early even if there are no errors or risks. Answer options B, D, and C are incorrect. These are not the valid definitions of Parkinson's Law.
Question 115:
Della works as a Project Manager for BlueWell Inc. A number of projects are running under her guidance. You, being a team leader of a project, provide Della the performance indexes of your project. The schedule variance (SV) of your project is zero. What does this figure depict?
A. Project is right on target.
B. Project is ahead of the schedule.
C. Project is behind the schedule.
D. Costs are higher than planned.
Correct Answer: A
According to the question, the schedule variance (SV) of the project is zero. A value of 0 indicates that the project is right on target. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target. Answer option C is incorrect. The negative SV means that project is behind the schedule. Answer option D is incorrect. This result can be drawn by looking at the cost variance (CV) of the project. Answer option B is incorrect. The positive SV depicts that the project is ahead of the planned schedule.
Question 116:
Allen is the project manager for his organization. He is reviewing the resource requirements for his organization. He has discovered that his project needs Henry, the application developer, for two months, but Henry has a conflict and is already scheduled with another project manager in the organization. This is an example of which of the following?
A. Resource competition
B. Matrix organization
C. Resource requirement
D. Resource constraint
Correct Answer: D
Because this project needs the specific resource of Henry, the application developer, and Henry is not available, it is considered as a resource constraint. Recall that a constraint is anything that limits the project manager's option.
Answer option C is incorrect. A resource requirement is simply the need for an application developer. Answer option B is incorrect. This is likely a matrix organization, but it is not the best answer for this question.
Answer option A is incorrect. While there may be some competition for skilled resources, such as Henry, the application developer, it is not the best answer for this question.
Question 117:
Which of the following techniques is used in businesses to determine the effect different costs or investments have on profit and other financial indicators?
A. Schedule analysis
B. Resource leveling
C. What-if scenario analysis
D. Root cause analysis
Correct Answer: C
What-if scenario analysis explains the analysis of the question "What if the situation represented by scenario 'X' happens?". This What-If Scenario Analysis shortly named as WIS A. A schedule network analysis is performed using the schedule to compute the different scenarios, such as extending specific engineering durations, or delaying a major component delivery. Businesses use what-if scenarios to determine the effect different costs or investments have on profit and other financial indicators. Answer option A is incorrect. The schedule analysis is the review of the schedule, but does not examine other possibilities for completing the project work. Answer option D is incorrect. The root cause analysis helps to determine the reasons why the project is running late. Answer option B is incorrect. The resource leveling causes the project's duration to increase. It is a technique that resolves resource conflicts by delaying tasks within their slack allowances. The resource leveling is the process in which project teams come across problems when developing their project schedules.
Question 118:
Billy is the project manager of the PQW Project and she has an assigned project budget of $655,000. Currently she is 80 percent complete with the project though she was scheduled to be 100 percent done by this date. She has spent $490,000 to date and other than the project schedule, which was delayed because of a vendor, the project is going well. What should Billy report as her schedule performance index for this project?
A. 1.23
B. 100 percent because the vendor caused her lateness
C. .80
D. $524,000
Correct Answer: C
Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI = Earned Value (EV) / Planned Value (PV) If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target. You can find the planned value by multiplying where Billy should be in the project, 100 percent, by the project's budget. In this instance the planned value is $655,000 because she is to be 100 percent complete. Answer option B is incorrect. The SPI simply reports a value not an . Answer option A is incorrect. 1.23 is the cost performance index for the project. Answer option D is incorrect. $524,000 is the earned value for the project.
Question 119:
You work as a project manager for BlueWell Inc. You and your project team is undergoing the decision making process for the project. You want to involve key participants to gain acceptance and commitment to make the solution work. Which of the following phases of the decision- making model defines this process of work?
A. Ideas to action
B. Problem definition
C. Problem solution generation
D. Solution action planning
Correct Answer: D
The various phases of the decision making process are as follows: Problem definition: This phase explores, clarifies and defines the problem. Problem solution generation: This phase draws out the new idea generating process by brainstorming multiple solutions and rejecting premature decisions. Ideas to action: This phase defines the evaluation criteria, rate pros and cons of alternatives and helps in selecting the best solution. Solution action planning: This phase involves key participants to gain acceptance and commitment to make the solution work. Solution evaluation planning: This phase performs the post implementation analysis, evaluations and lessons learned. Evaluation of the outcome and process: This phase evaluates how well the problem was solved or project goals were achieved.
Question 120:
You are the project manager for the GHY Project. This project has stakeholders, both internal and external, that need to receive performance reports from you on a regular basis. You have decided that in addition to emailing the weekly performance report, you will also keep the performance reports available on your secured project management Website. The Website is an example of what type of communication reporting?
A. Pull
B. Push
C. Passive
D. Asynchronous
Correct Answer: A
A Website is an example of a pull communication. This means the information is available, but the reader must go to the source and retrieve the information. Pull communication is defined by what the reader wants and what interests he has in retrieving the information. In other words, the information is available, but the reader must go to the source and retrieve the information. This type of communication is used by advertising agencies to draw clients into retail establishments to receive messages. Customers decide on when and how they will act on the messages in the pull model of communications. Some virtual examples of pull communication are: Blogs Wikipedia Websites Answer option D is incorrect. This does not describe the communication model or how information is distributed. Answer option C is incorrect. Passive communication is a not a project management term to describe communications. Answer option B is incorrect. Push communication describes the process of delivering the communication to the recipients, such as through email.
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