PMI-001 PMP Closing V5 Certification Practice Test Set 2

The procurement process that documents agreements and related documentation for future reference is known as:


Options are :

  • Close Procurements. (Correct)
  • Conduct Procurements.
  • Control Procurements.
  • Plan Procurements.

Answer : Close Procurements.

Which organizational process assets update is performed during the Close Procurements process?


Options are :

  • Procurement audit
  • Lessons learned (Correct)
  • Payment requests
  • Performance reporting

Answer : Lessons learned

Sharing good practices introduced or implemented in similar projects in the organization and/or industry is an example of:


Options are :

  • statistical sampling
  • quality audits (Correct)
  • benchmarking
  • process analysis

Answer : quality audits

Which tool or technique used in the Control Procurements process can be conducted during the execution of the project to verify compliance with deliverables?


Options are :

  • Risk register
  • Procurement documents
  • Estimate budget
  • Inspection and audits (Correct)

Answer : Inspection and audits

The individual or group that provides resources and support for a project and is accountable for success is the:


Options are :

  • sponsor (Correct)
  • business partners
  • customer
  • functional managers

Answer : sponsor

Project or phase closure guidelines or requirements, historical information, and the lessons learned knowledge base are examples of which input to the Close Project or Phase process?


Options are :

  • Organizational process assets (Correct)
  • A work breakdown structure
  • Enterprise environmental factors
  • The project management plan

Answer : Organizational process assets

The process of formalizing acceptance of the completed project deliverables is known as:


Options are :

  • Control Quality.
  • Close Project or Phase.
  • Validate Scope. (Correct)
  • Verify Scope.

Answer : Validate Scope.

Which process documents the business needs of a project and the new product, service, or other result that is intended to satisfy those requirements?


Options are :

  • Collect Requirements
  • Develop Project Management Plan
  • Direct and Manage Project Execution
  • Develop Project Charter (Correct)

Answer : Develop Project Charter

Completion of the product scope is measured against the product:


Options are :

  • prototypes
  • benchmarks
  • requirements (Correct)
  • analyses

Answer : requirements

The links between the processes in the Process Groups are often:


Options are :

  • Intuitive
  • Monitored
  • Measured
  • Iterative (Correct)

Answer : Iterative

In a weak matrix, the project managers role is:


Options are :

  • unlimited
  • full-time
  • part-time (Correct)
  • occasional

Answer : part-time

Lessons learned documentation is gathered during which of the following Project Management Process Groups?


Options are :

  • Closing (Correct)
  • Initiating
  • Planning
  • Executing

Answer : Closing

When sequencing activities, what does the common acronym FF stand for?


Options are :

  • Fixed Finish
  • Fixed Fee
  • Free Float
  • Finish-to-Finish (Correct)

Answer : Finish-to-Finish

When calculating the cost of quality (COQ) for a product or service, money spent for cost of conformance would include the areas of:


Options are :

  • training, document processes, and inspections. (Correct)
  • equipment, rework, and scrap.
  • inspections, rework, and warranty work.
  • training, testing, and warranty work

Answer : training, document processes, and inspections.

Types of internal failure costs include:


Options are :

  • inspections
  • equipment and training.
  • lost business.
  • reworking and scrapping. (Correct)

Answer : reworking and scrapping.

In the Develop Project Team process, which of the following is identified as a critical factor for a project's success?


Options are :

  • Subcontracting teams
  • Teamwork (Correct)
  • Virtual teams
  • Team meetings

Answer : Teamwork

Which type of contract is most commonly used by buying organizations because the price for goods is set at the outset and is not subject to change unless the scope of work changes?


Options are :

  • Cost-Reimbursable Contract (CR)
  • Fixed-Price-Incentive-Fee Contract (FPIF)
  • Fixed Price with Economic Price Adjustments Contract (FP-EPA)
  • Firm-Fixed -Price Contract (FFP) (Correct)

Answer : Firm-Fixed -Price Contract (FFP)

Which is the correct formula for calculating expected activity cost for three-point estimating?


Options are :

  • Ce = (C0 + 6Cm + Cp)/4
  • Ce = (C0 + C, + 4Cp) / 6
  • Ce = (6C0 + Cm + Cp)/4
  • Ce = (C0 + 4Cm + Cp)/6 (Correct)

Answer : Ce = (C0 + 4Cm + Cp)/6

Which schedule compression technique has phases or activities done in parallel that would normally have been done sequentially?


Options are :

  • Parallel task development
  • Leads and lags adjustment
  • Crashing
  • Fast tracking (Correct)

Answer : Fast tracking

Which degree of authority does a project manager have on a project in a strong matrix organizational structure?


Options are :

  • Limited
  • High to almost total
  • Moderate to high (Correct)
  • Low to moderate

Answer : Moderate to high

Which of the following is an example of the simplest fixed-price contract?


Options are :

  • Purchase order (Correct)
  • Request for quote
  • Verbal agreement
  • Purchase requisition

Answer : Purchase order

Which of the following is a set of interrelated actions and activities performed to achieve a prespecified product, result, or service?


Options are :

  • Portfolio
  • Project
  • Program
  • Process (Correct)

Answer : Process

Which of the following is a tool or technique of the Define Activities process?


Options are :

  • Precedence diagramming method (PDM)
  • Parametric estimating
  • Rolling wave planning (Correct)
  • Alternatives analysis

Answer : Rolling wave planning

In which Process Group are lessons learned documented?


Options are :

  • Executing
  • Closing (Correct)
  • Planning
  • Initiating

Answer : Closing

Which of the following is a conflict resolution technique that emphasizes areas of agreement rather than areas of difference?


Options are :

  • Collaborating
  • Problem Solving
  • Smoothing (Correct)
  • Compromising

Answer : Smoothing

The project management processes presented in the PMBOK Guide should:


Options are :

  • be selected as appropriate by the project team. (Correct)
  • be applied based on ISO guidelines.
  • always be applied uniformly
  • be selected as appropriate by the sponsor.

Answer : be selected as appropriate by the project team.

Which category of contracts are sellers legally obligated to complete, with possible financial damages if the project objectives are not met?


Options are :

  • Time and Material contracts (T&M)
  • Cost-reimbursable contracts
  • Fixed-price contracts (Correct)
  • Cost Plus Fixed Fee Contracts (CPFF)

Answer : Fixed-price contracts

Conflict should be best addressed in which manner?


Options are :

  • Early, in private, using a direct, collaborative approach (Correct)
  • As late as possible, in public, using a direct, confrontational approach
  • Early, in public, using an indirect, collaborative approach
  • Early, in private, using an indirect, cooperative approach

Answer : Early, in private, using a direct, collaborative approach

A project has a current cost performance index (CPI) of 1.25. To date, US$10,000 have been spent on performing the project work. What is the earned value of the work completed to date?


Options are :

  • US$9500
  • US$12,500 (Correct)
  • US$S000
  • US$10,000

Answer : US$12,500

Which of the following characteristics are found in a functional organizational structure?


Options are :

  • Little or no project manager authority, little or no resource availability, and the functional manager controls the project budget (Correct)
  • Low to moderate project manager authority, low to moderate resource availability, and a full-time project manager's role
  • High to almost total project manager authority, high to almost total resource availability, and full-time project management administrative staff
  • Limited project manager authority, limited resource availability, and a part-time project manager's role

Answer : Little or no project manager authority, little or no resource availability, and the functional manager controls the project budget

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