Project Management Principles Quiz

12 Questions

What percentage variance is set around the negative risk impact of $2 million?

10%

What is a key element of embracing adaptability and resiliency in projects?

Continuous learning

In stakeholder management, what group may be prioritized due to their high impact and influence?

Highly impacted and influential groups

What is the primary purpose of push communication in project management?

To engage stakeholders proactively without their choice

What does the servant leadership style in projects focus on?

Empowering team members and removing obstacles

When should management reserves typically be used in a project?

For unforeseen scope changes

What does the Work Breakdown Structure (WBS) dictionary provide?

Acceptance criteria and resources

Which tool guides actions to bring a project back on track?

Schedule Performance Index (SPI)

What is the purpose of management reserves in a project?

To cover unforeseen work scope

What is the purpose of archiving project information and documenting lessons learned?

To create historical records

How are risks like encountering harmful chemicals during project scope investigation mitigated?

By transferring risk to a third party

What does the Scope Baseline include?

Work breakdown structure dictionary

Study Notes

Questions for passing the PMP exam are based on real scenarios and have multiple correct answers explained thoroughly.
The Work Breakdown Structure (WBS) dictionary provides detailed scope descriptions, work assignments, acceptance criteria, costs, and resources.
The Schedule Performance Index (SPI) and Cost Performance Index (CPI) guide actions to bring a project back on track.
Impact over influence grid helps categorize stakeholders for appropriate engagement strategies.
Project Charter formally authorizes a project with details like cost-benefit analysis and feasibility studies.
Management reserves are for unforeseen work within the project scope and can be used to address missing functionality.
Archiving project information and documenting lessons learned are part of project closure activities.
Burn down charts track work progress against commitments in agile projects for performance evaluation.
Real data should be used to assess project issues before taking action.
Risks such as encountering harmful chemicals during project scope investigation should be assessed and mitigated promptly.- Risk responses for genuine danger or high risk involve transferring the risk to a third party through insurance.
Change management plan outlines the process for managing Change Control, including the Change Control Board and approvers.
Scope Baseline includes the project scope statement, work breakdown structure, and work breakdown structure dictionary.
Risk threshold around a negative risk impact of $2 million is set at a 10% variance, making it acceptable between $1.8 million and $2.2 million.
Risk response suggesting a new material for a building project faces disagreement among stakeholders, prompting the need for a different risk response.
Embracing adaptability and resiliency involves using short feedback loops, continuous learning, diverse project teams, and transparent planning.
Communication is crucial when business stakeholders start questioning changes and missing key meetings, requiring clear communication of vision and benefits.
Stakeholder management involving over 100 groups and 3,000 impacted stakeholders may require prioritizing stakeholders to focus on highly impacted and influential groups.
Change management approach includes communicating the vision, goals, and benefits of change early to prevent resistance and change fatigue.
Engaging stakeholders effectively involves prioritizing, understanding, analyzing, engaging, and monitoring stakeholders for successful project management.- Push communication involves sending information to stakeholders, such as through emails or meetings, without them having a choice in receiving it.
Stakeholders can pull information at any time from a site or platform, while push communication involves actively pushing information out to them.
Effective communication strategies are crucial in project management, especially when addressing miscommunication and mixed messages among teams.
When addressing issues of miscommunication, it is important to ensure clear communication with vendors and team members to avoid delays and setbacks.
Root cause analysis can help identify the underlying issues causing miscommunication and delays in a project.
Servant leadership style focuses on empowering team members, removing obstacles, and providing development opportunities to improve team performance.
In projects with new and inexperienced team members, it is essential to focus on training, team assessments, and co-location to enhance capability and performance.
When faced with risks in a project, reviewing or creating risk responses and utilizing contingency reserves for known risks can help mitigate potential worst-case scenarios.
Management reserve is typically used for unforeseen scope changes in a project, while contingency reserve is for known risks that may impact the project.