PMP Mock Exam: Project Management Fundamentals

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary objective of the project manager in the given scenario?

To schedule the kick-off meeting

To prepare the project management plan

To identify the main stakeholders and gather their expectations (correct)

To ask for help from peers with more experience in the department

What should the project manager do first in the given scenario?

Schedule the kick-off meeting

Ask for help from peers with more experience in the department

Identify the main stakeholders and schedule meetings with them (correct)

Prepare the project management plan

What is the weight limitation specified in the antenna project?

26 pounds

10 pounds

20 pounds

12 pounds (correct)

What should the project manager do upon realizing the antenna cannot be built to the specified weight?

Assess the probability of failing to meet the specification Signup and view all the answers

What is the objective of the project charter in the given scenario?

To establish the project's objectives Signup and view all the answers

How should the project manager respond to vendor A's email requesting clarification of the RFP?

Email vendor A with the clarification Signup and view all the answers

What is true about product backlog?

Only option b and c are true Signup and view all the answers

What is the purpose of the bidder conferences in the RFP process?

To provide an opportunity for vendors to ask questions and clarify the RFP Signup and view all the answers

What type of voting technique is used in Agile environment?

All of the above Signup and view all the answers

What is the expected outcome of the project manager's task in the given scenario?

A project charter Signup and view all the answers

What is a visual depiction of the product scope showing a business system and its interactions?

Context Diagram Signup and view all the answers

What might be used to show how a customer service application will work from a user’s perspective?

Use case diagram Signup and view all the answers

What approach can the project manager use to mitigate the risk of rapid development of new technologies reducing the delivered value?

Review and update the project management plan and risk management plan at each iteration. Signup and view all the answers

What should PM-Y request from PM-X to identify potential challenges in project X?

Work performance reports Signup and view all the answers

What is the primary purpose of a kick-off meeting in a project?

To clarify project objectives and deliverables Signup and view all the answers

What should the project manager do if the project's key deliverables are not clearly identified?

Define the project scope and deliverables Signup and view all the answers

What is the benefit of reviewing lessons learned from a similar project?

To take preventive and/or corrective actions Signup and view all the answers

What is the purpose of a project management plan?

To guide project execution and control Signup and view all the answers

What is the total EMV of the threats identified in the airline seat project?

$100,000 Signup and view all the answers

What is the estimate at completion (EAC) for the project?

$250,000 Signup and view all the answers

What is the present value of an investment of BD 3000 in three years at 8% interest?

BD 2991.55 Signup and view all the answers

What is the term for a rating between -100 to +100 given to rate the customer experience?

Net Promoter Score Signup and view all the answers

Which of the following techniques can be applied to assess the internal and external business environments?

All of the above Signup and view all the answers

What is the concept of designing quality into a product to identify and control factors that cause variation?

Design for Quality Signup and view all the answers

What skills should the project manager use to obtain team consensus and sponsor approval?

Stakeholder engagement Signup and view all the answers

What should company B's project manager consider as an input when developing the project charter?

Letter of intent Signup and view all the answers

What should the project manager have done to prevent the accounting department from rejecting all charges?

Verified that the project charter was authorized by the sponsor Signup and view all the answers

What is the primary purpose of reviewing lessons learned from previous projects?

To identify areas for process improvement Signup and view all the answers

Why might some team members remain dissatisfied with the project plan?

The selected equipment is new and insufficiently tested Signup and view all the answers

What is the primary role of a project sponsor?

To approve the project charter Signup and view all the answers

Study Notes

Project Management Fundamentals

A project manager should identify the main stakeholders and schedule meetings with them to gather their expectations when asked to write the project charter by the end of the week.
A project charter is not the same as a project management plan.

Procurement Management

When a vendor requests clarification of the RFP, the project manager should email the clarification to all the vendors.
A project manager should not amend the RFP with the clarification and resend it to all the vendors.

Product Backlog and Agile

Product backlog items are edited and clarified as more is known.
Product backlog is a list of the expected work to deliver the product.

Agile Environment

Fist of five and planning poker are types of voting techniques in Agile environment.

Diagrams and Visualizations

A context diagram is a visual depiction of the product scope showing a business system and how people and other systems interact with it.
A flow diagram, process diagram, or network diagram are not the same as a context diagram.

Risk Management

To mitigate the risk of rapid development of new technologies, the project manager can review and update the project management plan and risk management plan at each iteration.
Benchmarking past projects or including a contingency clause in the contract are not effective ways to mitigate this risk.

Project Review and Lessons Learned

To obtain access to information about what went well in a project, the project manager should request the lessons learned repository.
Work performance reports, issue log, and activity list are not the same as lessons learned repository.

Project Kick-off

When key deliverables are not clearly identified, the project manager should clarify and identify the project’s key deliverables.

Expected Monetary Value (EMV)

The total EMV of two threats is calculated by adding the individual EMV values of each threat.
EMV is calculated by multiplying the probability of occurrence by the impact of the threat.

Earned Value Management (EVM)

When the project manager believes the current variances occurred because of extraneous factors, the estimate at completion (EAC) is calculated using the formula: EAC = BAC / CPI.
EAC is used to estimate the total cost of the project at completion.

Present Value

The present value of an investment is the amount of money that needs to be invested today to achieve a certain amount in the future.
Present value is calculated using the formula: PV = FV / (1 + r)^n.

Customer Experience

Net Promoter Score is a rating between -100 to +100 given to rate the customer experience.

Business Environment Analysis

PESTEL, VUCA, and MOSCOW are techniques used to assess the internal and external business environments.

Team Management

Stakeholder engagement and leadership skills are necessary to obtain team consensus and sponsor approval.
Interpersonal and team-building skills are not directly related to obtaining team consensus and sponsor approval.

Project Charter

When developing the project charter, the project manager should consider the letter of intent and letter of enquiry as inputs.
The project charter is not the same as the project management plan.

Project Initiation

The project manager should verify that the project charter was authorized by the sponsor to prevent issues with project approval.
Obtaining the funds needed, planning the resources, and verifying the business case are not directly related to project authorization.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Test your knowledge of project management concepts with this 120-question mock exam. This quiz covers essential project management skills, including project initiation, stakeholder identification, and project charter development.