PTT Q's PDF

**Week 1** You and your boss are discussing the best approach to prioritize projects involving reasonably simple technology improvements in your company using only one financial indicator. Your organization is small. Your projects typically have small teams, take less than a year, and have benefits...

**Week 1** You and your boss are discussing the best approach to prioritize projects involving reasonably simple technology improvements in your company using only one financial indicator. Your organization is small. Your projects typically have small teams, take less than a year, and have benefits that can be quantified. Which approach would you recommend? A. CF B. PBP C. ROI D. IRR Correct Answer: B One of your colleagues has just told you that there is a rumour your project is failing. You are surprised as you are meeting the project's success criteria. What should you do? A. Prepare your resume B. Ignore the comment, it is just politics C. Discuss with the Project Sponsor D. Work on improving project communications Correct Answer: D What a mess. You have just finished a meeting with the project team to review the project requirements. The requirements are all over the place. The first step is to get things organized. What should you do? A. Meet with the client to review the requirements B. Create a requirements traceability matrix C. Create the WBS to review with the client D. Do nothing, and carry on Correct Answer: B What is the purpose of prioritizing requirements? A. To make life difficult for the client B. To help all stakeholders identify what is important C. To complete the requirements traceability matrix D. To understand the project team's priorities Correct Answer: B The project sponsor is keen to have the WBS for your project. You agree, but the problem is that you are not a subject matter expert on the product of the project. The team, which is very experienced, has been formed. What should you do? A. Use the WBS from another project B. Use the top down approach C. Tell the project sponsor to wait D. Use the bottom up approach Correct Answer: D Your team is working on the work packages for their area. One of the experienced team leads, who usually finishes this work quickly, is taking a long time to complete the work. As you review what the team has done there seems to be a large number of work packages. What would be the reason for this? A. The team leader wants to be very thorough B. This may be fine, the team leader has more scope C. The team leader is not following the "10 day rule" D. You did not give the team leader good direction Correct Answer: B **Week 2** You are trying to determine whether to procure a product or not. What should you not consider? A. Stakeholder preference B. Your capacity C. Market conditions D. Seller's procurement policy Correct Answer: D You are reviewing your organization's procurement policy and there is a definite bias against procuring products and services for your project. This is probably due to: A. No capacity B. Organization preference C. Not concerned about costs D. Too many sellers in the market Correct Answer: B Your project sponsor is very concerned about the cost of the cost-plus contract, but you have not been able to finalize the scope. What can you do? A. Nothing B. Talk to the seller C. Add an incentive fee D. Change to a fixed-price contract Correct Answer: C The buyer wants you to sign a fixed-price contract. What should you check? A. The payment terms B. The length of the contract C. The clarity of the scope D. The buyer's reputation Correct Answer: C In evaluating seller RFP responses, buyers often use a two-envelope approach which involves: A. Only getting responses from two sellers B. Reviewing the price for qualified sellers only C. Receiving the compliance documents in a separate document D. Providing at least two references in separate documents Correct Answer: B You have two sellers who have submitted excellent responses to the RFP. After evaluation, they are very close in the result of the weighting scoring system. How should you make the final decision? A. Re-score the RFP responses B. Flip a coin C. Ask for BAFO D. Talk to the companies Correct Answer: Your seller has just called again wondering when payment is going to be made. You remind the seller that there are still defects to be corrected. You have not authorized payment because the payment can only be made... A. When the contract is substantially complete B. In equal payments C. As costs are incurred D. When deliverables are accepted Correct Answer: D You are so frustrated with the seller coming up with excuses about why they are late in completing the deliverables. What can you do? A. Talk to the seller's project manager B. Check the contract for the dispute resolution clause C. Look at the contract for penalty clauses D. Withhold payments Correct Answer: B **Week 1 & 2** Your boss has asked you to come up with the return on investment for your project. This is unusual as your organization normally uses a payback period. What additional information will you need to complete the ROI analysis? A. Benefits for each year B. Costs for each year C. Your organization\'s internal rate of return D. Your organization\'s discount rate Correct Answer: D It is important to determine what is your project\'s success. Key performance indicators can be used to measure if you are on track for a successful project. To be effective, which of the following is a KPI best practice? A. Aim for hard to calculate B. Aim for confusing indicators C. Aim for consistent indicators D. Always lagging indicators Correct Answer: C Your project charter has been approved and you are planning how to collect the requirements. For this project, there are many stakeholders, but you do not have very much time to collect the requirements. Which tool should you use? A. Focus groups B. Observations C. Interviews D. Use cases Correct Answer: A Considering the smart criteria, what is missing from the following requirement? The website must be able to accept payments using PayPal with the initial delivery of the website. A. It is not clear B. It is not attainable C. Nothing, it meets the criteria D. It is not verifiable Correct Answer: C You are finalizing the scope baseline for your project. What is one thing you need to ensure that the WBS is complete? A. Ensure the WBS fits on one page and is visually appealing B. Ensure the WBS aligns with the project business case C. Ensure the WBS dictionary is complete and reflects the WBS D. Ensure the requirements are updated and reviewed Correct Answer: C The project charter is approved, and you want to get an idea of the project deliverables and put them into a WBS to help guide you during the project planning. You\'ve done similar projects before. What is the best approach to use to create the WBS? A. Use the top down approach B. It\'s too early to do the WBS, it\'s a waste of time C. Use the WBS from a previous project as a base D. Use the bottom of approach Correct Answer: C What tool is used to help develop the project scope statement by breaking the product into smaller components? A. Requirements analysis B. Product decomposition C. Product breakdown D. Progressive elaboration Correct Answer: C You are managing a project and looking at options for the project resources. Your boss is keen to use some internal resources that are available. However, the project has several time constraints. What other things should you consider in making your decision? A. The availability of training B. The capability of the resources C. The personality fit of the resources D. The location of the resources Correct Answer: B You are reviewing the make-or-buy analysis done by your team. Their recommendation is to buy. You look at the cost, and they have done a complete analysis of the costs to make the product, including overhead. The buy costs are the price for the product only. What should you do? A. Ask the team to look at the other costs for buying B. Talk to the project sponsor about other costs C. Ask for an independent review of the analysis D. Accept the team\'s recommendation Correct Answer: A You are procuring a standard item for your project. Which procurement document should you use? A. RFI B. RFP C. RFQ D. RFS Correct Answer: C You have just completed gathering the requirements from all stakeholders. Your team has reviewed the requirements and you have clarified the requirements that were not clear. You have updated the requirements traceability matrix. What should you do next? A. Start scheduling resources B. Update your cost estimates C. Create the WBS D. Categorize the requirements Correct Answer: D You need to outsource some work on your project as internal resources are not available to do the work. The project\'s top priority is cost, but unfortunately, the requirements are not as clear as you would like. What should you do? A. Use a cost plus with incentive fee contract B. Delay the project to use the internal resources C. Use fixed firm price contract D. Use a fixed price with incentive fee contract Correct Answer: D An organization is considering various contract types to motivate sellers. What should they consider before deciding to use an award fee contract? A. Payment of the award fee must be agreed upon by both the buyer and the seller when the contract is signed B. Payment of the award fee must be linked to the completion of the contract statement of work C. Any unresolved dispute over the payment of the award fee would be subject to remedy in court D. Payment of an award fee is decided by the buyer based on the degree of customer satisfaction Correct Answer: A Your teams are working on the work packages for their areas. One of the team leads, who is new to a leadership role, is having trouble getting the work done. What should you do to provide more control of the work? A. Do nothing, they will figure it out B. Arrange for leadership training C. Provide the team with some coaching and mentoring D. Break the work packages down into smaller packages Correct Answer: D In contracts, there are several specific terms that can be used. What is the contract term that explains what can be done with confidential project information? A. Liquidated damages B. Notifications C. Non-disclosure D. Non-compete Correct Answer: C Your seller has just notified you that the head office of their company has moved. You check the contract and realize that all notifications are to be sent to the company\'s head office. What type of change is required to the contract? A. Change directive B. Constructive change C. Change order D. Administrative change Correct Answer: D You have taken over a project with some contracts. You have reviewed all the contracts and confirmed that the statement of work matches the requirements and approved change requests. You have also noted that all sellers have signed your organization\'s standard contract. What other key items in the contract should you review as part of your responsibilities? A. Payment terms and invoice status B. The RFP sent to the seller C. Seller status reports D. Your organization\'s procurement policies Correct Answer: A You and your seller have been discussing a dispute on your contract for several weeks. you have brought in senior management, and they have not been able to resolve the dispute. what would be the next step to resolve the dispute? A. Adjudication B. Mediation C. Arbitration D. Negotiation Correct Answer: B