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Exam : PMI PMI-001 Title : Project Management Professional
1. When preparing the probability distribution of cost outcomes for a project, what is the estimate with a 15% probability of being exceeded approximately one standard deviation ___________? A. Above the mean. B. Below the mean. C. Below the median. D. Above the median. Answer: A 2. Taking the following table into account, where would corrective action be MOST effective when you make use of Pareto's Rule? A. Development B. Prototype C. Fabrication D. Design E. Testing Answer: D 3. Which of the following statements depicts the key difference between contract close-out and administrative closure? A. Contract close-out formalizes project completion. B. Contract close-out includes product verification. C. Contract close-out includes updating records with final results. D. Administrative closure includes procurement audits. E. None of the above. Answer: B 4. What would be the cost performance index if BCWP =350, ACWP = 400, and BCWS = 325? Note:Budgeted Cost of Work Performed (BCWP), Actual Cost of Work Performed (ACWP) and Budget Cost of Work Schedule (BCWS) A. 0.813 B. 1.078 C. 1.143 D. 0.875 Answer: D 5. Which of the following represents a consequence to the project in the event of a resource being added to the project team during execution?
Slide 3: project team during execution? A. Shorter project completion schedule. B. An indeterminable effect. C. A requirement for a scope change. D. An increase in project quality. Answer: B 6. Which technique would you be using if you analyze which sequence of activities has the least amount of flexibility when you need to predict project duration? A. Critical path B. Dependency diagramming C. PERT D. Gantt chart E. Monte Carlomethod Answer: A 7. The "Cost of quality" project management concept includes ____? A. The costs involved when changes are made to the requirements B. The costs of ensuring that requirements are conformed to. C. The costs incurred when requirements are exceeded. D. The costs involved with quality control requirements. Answer: B 8. Which of the following represents the BEST process to accomplish resource planning? A. Identifying the required resources in the project charter B. Identifying the available resources and allocate them to all activities in the current phase of the project. C. Identifying the required resources and allocate them to all project activities. D. Identifying the resources that performed past similar projects, and allocate them to all project activities E. None of the above Answer: C 9. What does a benefit-cost ratio of 3.22 indicate? A. A profit of s3.22 per unit produced. B. A payback of s3.22 for each dollar expended. C. The percentage of resources assigned to other tasks on the critical path. D. The gold plating result. E. A profit of s3.22 for each dollar expended. Answer: B 10. Which of the following factors are NOT included in cost control? A. Preparation of cost estimates. B. Informing stakeholders of changes. C. Monitoring cost performance. D. Recording appropriate changes to the cost baseline. Answer: A 11. Where does comparing actual to baseline schedules, examining the statement of work, understanding cost overruns, and assessing risk all occur? A. Stakeholder meeting. B. Resource leveling activity. C. Project audit. D. Contract negotiation. Answer: C
Slide 4: 12. Which of the following requires an expenditure of the resources when working within an arrow diagramming method? A. Histograms. B. Accounting support costs. C. Pareto diagram. D. Milestone events. E. Path activities. Answer: B 13. Which of the following is illustrated by a resource histogram? A. The expected requirements for critical path activities. B. The expected resource usage by time period. C. The resource assignments by work package. D. The resource assignments by activities. E. All of the above. Answer: B 14. Which of the following describes Fast Tracking? A. Circumventing loopholes. B. Developing workarounds for previous problems. C. Increased project risk. D. Getting people to work longer hours in overtime. E. Meeting schedule objectives by adding resources. Answer: C 15. Which of the following is NOT included in activity duration estimated? A. Project team knowledge. B. Commercial duration databases. C. Time studies. D. Information from previous experience. E. None of the above. Answer: C 16. Which of the following are included in cost control? (Choose all that apply.) A. Informing stakeholders of changes. B. Preparing cost estimates. C. Recording appropriate changes to the cost baseline. D. Monitoring cost performance. Answer: A, C, D 17. Which of the following is NOT an indirect cost? A. Insurance costs. B. Payroll tax cost. C. Subcontract costs. D. Accounting support costs. Answer: C 18. What is the job title of the person who is primarily responsible for the quality of deliverables? A. The quality control inspector. B. The quality controller. C. The design engineer. D. The project manager. E. The quality manager.
Slide 5: Answer: D 19. Which of the following statements BEST describes what project progress reports are? A. It is used to predict future status and progress. B. The project sponsor makes the most use of it. C. It is an important communications element. D. It is needed on a weekly basis. Answer: C 20. Consider the following situation: The customer was given a monthly report that indicates zero schedule variance. One of the teams members are aware of at least one milestone that has not been achieved. This missed milestone will result in an overall delay in the project. Which of the following items were not reported on adequately? A. Critical path status B. Risk analysis C. Communication plan variance D. Resource management plan E. All of the above Answer: A PMI-001 Braindumps
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