QUESTION 455 What is a deliverable-oriented, hierarchical decomposition of the work to be executed to accomplish the project objectives and create the required deliverables?
A. Organizational breakdown structure (OBS) B. Work performance information C. Work package D. Work breakdown structure (WBS)
Correct Answer: D
Explanation: 5.4.2.1 Decomposition
Decomposition is a technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts.
The work package is the work defined at the lowest level of the WBS for which cost and duration can be estimated and managed. The level of decomposition is often guided by the degree of control needed to effectively manage the project. The level of detail for work packages will vary with
the size and complexity of the project. Decomposition of the total project work into work packages generally involves the following activities:
Identifying and analyzing the deliverables and related work; Structuring and organizing the WBS; Decomposing the upper WBS levels into lower-level detailed components; Developing and assigning identification codes to the WBS components; and Verifying that the degree of decomposition of the deliverables is appropriate.
QUESTION 456 What causes replanning of the project scope?
A. Project document updates B. Project scope statement changes C. Variance analysis D. Change requests
Correct Answer: D
QUESTION 457 Which of the following is an output of the Distribute Information process?
A. Project calendar B. Communications management plan C. Organizational process assets updates D. Project document updates
Correct Answer: C
QUESTION 458 In the Develop Project Team process, which of the following is identified as a critical factor for a project’s success?
A. Team meetings B. Subcontracting teams C. Virtual teams D. Teamwork
Correct Answer: D
Explanation: Process: 9.3 Develop Project Team
Definition: The process of improving competencies, team member interaction, and overall team environment to enhance project performance. The key benefit of this process is that it results in improved teamwork,
enhanced people skills and competencies, motivated employees, reduced staff turnover rates, and improved overall project performance.
Key Benefit: The key benefit of this process is that it results in improved teamwork, enhanced people skills and competencies, motivated employees, reduced staff turnover rates, and improved overall project performance.
Inputs 1. Human resource management plan 2. Project staff assignments 3. Resource calendars
Outputs 1. Team performance assessments 2. Enterprise environmental factors updates
QUESTION 459 The project scope statement and resource calendars are inputs to which Project Time Management process?
A. Sequence Activities B. Estimate Activity Resources C. Develop Schedule D. Control Schedule
Correct Answer: C
Explanation: The project team must complete a scope statement for developing a common understanding of the project scope among stakeholders. This lists project deliverables – summary level sub-products, whose full and satisfactory delivery marks the completion of the project.
Process: 6.6 Develop Schedule
Definition: The process of analyzing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule model.
Key Benefit: The key benefit of this process is that by entering schedule activities, durations, resources, resource availabilities, and logical relationships into the scheduling tool, it generates a schedule model with planned dates for completing project activities.
QUESTION 460 Which process determines the risks that might affect the project?
A. Perform Qualitative Risk Analysis B. Identify Risks C. Plan Risk Management D. Perform Quantitative Risk Analysis
Correct Answer: B
QUESTION 461 Which of the following is an input to the Direct and Manage Project Execution process?
A. Approved change requests B. Approved contract documentation C. Work performance information D. Rejected change requests
Correct Answer: A
QUESTION 462
Which of the following factors is lowest at the start of the project?
A. Cost of changes B. Stakeholder influences C. Risk D. Uncertainty
Correct Answer: A
QUESTION 463 In which domain of project management would a Pareto chart provide useful information?
A. Project Scope Management B. Project Time Management C. Project Communications Management D. Project Quality Management
Correct Answer: D
QUESTION 464 Ensuring that both parties meet contractual obligations and that their own legal rights are protected is a function of:
A. Conduct Procurements. B. Close Procurements. C. Administer Procurements, D. Plan Procurements.
Correct Answer: C
QUESTION 465 In which process might a project manager use risk reassessment as a tool and technique?
A. Perform Qualitative Risk Analysis B. Monitor and Control Risk C. Monitor and Control Project Work D. Plan Risk Responses
Correct Answer: B
Explanation Explanation/Reference:
QUESTION 466 A purchase order for a specified item to be delivered by a specified date for a specified price is the simplest form of what type of contract?
A. Cost-reimbursable B. Time and material C. Fixed price or lump-sum D. Cost-plus-fixed-fee
Correct Answer: C
Explanation: • Units of measure. Each unit used in measurements (such as staff hours, staff days, weeks for time measures; or meters, liters, tons, kilometers, or cubic yards for quantity measures; or lump sum in currency form) is defined for each of the resources.
Fixed-price contracts: This category of contracts involves setting a fixed total price for a defined product, service, or result to be provided.
Fixed-price contracts may also incorporate financial incentives for achieving or exceeding selected project objectives, such as schedule delivery dates, cost and technical performance, or anything that can be quantified and subsequently measured.
Sellers under fixed-price contracts are legally obligated to complete such contracts, with possible financial damages if they do not.
Under the fixed-price arrangement, buyers need to precisely specify the product or services being procured. Changes in scope may be accommodated, but generally with an increase in contract price.
QUESTION 467 What risk technique is used to quantify the probability and impact of risks on project objectives?
A. Expert judgment B. Risk registry C. Risk response planning D. Interviewing
Correct Answer: D
Explanation: 11.2.2.2 Information Gathering Techniques
Examples of information gathering techniques used in identifying risks can include: Brainstorming.
The goal of brainstorming is to obtain a comprehensive list of project risks. The project team usually performs brainstorming, often with a multidisciplinary set of experts who are not part of the team.
Ideas about project risk are generated under the leadership of a facilitator, either in a traditional free-form brainstorm session or structured mass interviewing techniques.
Categories of risk, such as in a risk breakdown structure, can be used as a framework. Risks are then identified and categorized by type of risk and their definitions are refined.
Delphi technique. The Delphi technique is a way to reach a consensus of experts. Project risk experts participate in this technique anonymously.
A facilitator uses a questionnaire to solicit ideas about the important project risks. The responses are summarized and are then recirculated to the experts for further comment.
Consensus may be reached in a few rounds of this process. The Delphi technique helps reduce bias in the data and keeps any one person from having undue influence on the outcome.
Interviewing: Interviewing experienced project participants, stakeholders, and subject matter experts helps to identify risks.
Root cause analysis. Root-cause analysis is a specific technique used to identify a problem, discover the underlying causes that lead to it, and develop preventive action.
QUESTION 468 Which of the following terms indicates a deliverable-oriented hierarchical decomposition of the project work? A. WBS directory B. Activity list C. WBS D. Project schedule
Correct Answer: C
QUESTION 469 Which process occurs within the Monitoring and Controlling Process Group?
A. Control Costs B. Plan Quality C. Perform Quantitative Risk Analysis D. Determine Budget
Correct Answer: A
Explanation: Monitoring and Controlling Process Group 4.4 Monitor and Control Project Work 4.5 Perform Integrated Change Control 5.5 Validate Scope 5.6 Control Scope 6.7 Control Schedule 7.4 Control Costs 8.3 Control Quality 10.3 Control Communications 11.6 Control Risks 12.3 Control Procurements 13.4 Control Stakeholder Engagement
Process: 7.4 Control Costs
Definition: The process of monitoring the status of the project to update the project costs and managing changes to the cost baseline.
Key Benefit: The key benefit of this process is that it determines the cost baseline against which project
performance can be monitored and controlled.
Inputs 1. Project management plan 2. Project funding requirements 3. Work performance data 4. Organizational process assets
Outputs 1. Work performance information 2. Cost forecasts 3. Change requests 4. Project management plan updates 5. Project documents updates 6. Organizational process assets updates
QUESTION 470 Which of the following processes audits the quality requirements and the results from quality control measures to ensure appropriate quality standards and operational definitions are used?
A. Perform Quality Control B. Quality Metrics C. Perform Quality Assurance D. Plan Quality
Definition: The process of auditing the quality requirements and the results from quality control measurements to ensure that appropriate quality standards and operational definitions are used. Key Benefit: The key benefit of this process is that it facilitates the improvement of quality processes.
Inputs 1. Quality management plan 2. Process improvement plan 3. Quality metrics 4. Quality control measurements 5. Project documents
Tools & Techniques 1. Quality management and control tools 2. Quality audits 3. Process analysis
Outputs
1. Change requests 2. Project management plan updates 3. Project documents updates 4. Organizational process assets updates
QUESTION 471 How is the schedule variance calculated using the earned value technique?
A. EV less AC B. AC less PV C. EV less PV D. AC less EV
Correct Answer: C
QUESTION 472 Which Perform Quality Control tool graphically represents how various elements of a system interrelate?
A. Control chart B. Flowchart C. Run chart D. Pareto chart
Correct Answer: B
Explanation/Reference:
Which type of analysis is used as a general management technique within the Plan Procurements process?
A. Risk assessment analysis B. Make or buy analysis C. Contract value analysis D. Cost impact analysis
Correct Answer: B
QUESTION 474 Which of the following tools and techniques is used in the Verify Scope process?
A. Inspection B. Variance analysis C. Expert judgment D. Decomposition
Correct Answer: A
QUESTION 475 Define Activities and Estimate Activity Resources are processes in which project management Knowledge Area?
A. Project Time Management B. Project Cost Management C. Project Scope Management D. Project Human Resource Management
Correct Answer: A
QUESTION 476 Which is a communication method used in the Report Performance process?
A. Expert judgment B. Project management methodology C. Stakeholder analysis D. Status review meetings
Correct Answer: D
QUESTION 477 Prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact takes place in which process?
A. Monitor and Control Risks B. Plan Risk Management C. Perform Qualitative Risk Analysis D. Perform Quantitative Risk Analysis
Correct Answer: C
In which process is a project manager identified and given the authority to apply resources to project activities?
A. Acquire Project Team B. Develop Project Management Plan C. Manage Project Execution D. Develop Project Charter
Correct Answer: D
Explanation: Process: 4.1. Develop Project Charter
Definition: The process of developing a document that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities.
Key Benefit: The key benefit of this process is a well-defined project start and project boundaries, creation of a formal record of the project, and a direct way for senior management to formally accept and commit to the project.
Inputs 1. Project statement of work 2. Business case 3. Agreements 4. Enterprise environmental factors 5. Organizational process assets
QUESTION 479 Which of the following documents allows the project manager to assess risks that may require near term action?
A. Probability and impact matrix B. Contingency analysis report C. Risk urgency assessment D. Rolling wave plan
Correct Answer: C
Explanation: 11.3.2.5 Risk Urgency Assessment
Risks requiring near-term responses may be considered more urgent to address. Indicators of priority may include probability of detecting the risk, time to affect a risk response, symptoms and warning signs, and the risk rating.
In some qualitative analyses, the assessment of risk urgency is combined with the risk ranking that is determined from the probability and impact matrix to give a final risk severity rating.
QUESTION 480 Which activity involves ensuring that the composition of a projects configuration items is correct?
A. Configuration Identification B. Configuration Status Accounting C. Configuration Verification and Audit D. Configuration Quality Assurance
Correct Answer: C
Explanation: Configuration identification. Identification and selection of a configuration item to provide the basis for which the product configuration is defined and verified, products and documents are labeled, changes are managed, and accountability is maintained.
Configuration status accounting. Information is recorded and reported as to when appropriate data about the configuration item should be provided.
This information includes a listing of approved configuration identification, status of proposed changes to the configuration, and the implementation status of approved changes.
Configuration verification and audit. Configuration verification and configuration audits ensure the composition of a project’s configuration items is correct and that corresponding changes are registered, assessed, approved, tracked, and correctly implemented.
This ensures the functional requirements defined in the configuration documentation have been met.
QUESTION 481 Change requests, project management plan updates, project document updates, and organizational process assets updates are all outputs of which project management process?
A. Plan Risk Responses B. Manage Stakeholder Expectations C. Define Scope D. Report Performance
Correct Answer: B
QUESTION 482 Which process involves identifying and documenting the logical relationships between project activities?
A. Develop Schedule B. Sequence Activities C. Create WBS D. Applying leads and lags
Correct Answer: B
Explanation: Process: 6.3 Sequence Activities
Definition: The process of identifying and documenting relationships among the project activities.
Key Benefit: The key benefit of this process is that it defines the logical sequence of work to obtain the greatest efficiency given all project constraints.
Inputs 1. Schedule management plan 2. Activity list 3. Activity attributes 4. Milestone list 5. Project scope statement 6. Enterprise environmental factors 7. Organizational process assets
QUESTION 483 Which of the following is an example of the simplest fixed-price contract?
A. Purchase requisition B. Purchase order C. Verbal agreement D. Request for quote
Correct Answer: B
QUESTION 484 Which technique helps to determine the risks that have the most potential impact on a project?
A. Cost risk simulation analysis B. Expected monetary value analysis C. Modeling and simulation D. Sensitivity analysis
Correct Answer: D
Explanation: 11.4.2.2 Quantitative Risk Analysis and Modeling Techniques
Commonly used techniques use both event-oriented and project-oriented analysis approaches, including:
• Sensitivity analysis. Sensitivity analysis helps to determine which risks have the most potential impact on the project.
It helps to understand how the variations in project’s objectives correlate with variations in different uncertainties.
Conversely, it examines the extent to which the uncertainty of each project element affects the objective being studied when all other uncertain elements are held at their baseline values.
QUESTION 485 Labor, materials, equipment, and supplies are examples of:
A. Resource attributes. B. Resource types. C. Resource categories. D. Resource breakdown structures (RBS).
Correct Answer: C
Explanation: 6.4.3.2 Resource Breakdown Structure
The resource breakdown structure is a hierarchical representation of resources by category and type. Examples of resource categories include labor, material, equipment, and supplies.
Resource types may include the skill level, grade level, or other information as appropriate to the project. The resource breakdown structure is useful for organizing and reporting project schedule data with resource utilization information.
QUESTION 486 Analogous cost estimating relies on which of the following techniques?
A. Expert judgment B. Project management software C. Vendor bid analysis D. Reserve analysis
Correct Answer: A
Explanation: 4.1.2.1 Expert Judgment
Definition: Expert judgment is often used to assess the inputs used to develop the project charter. Expert judgment is applied to all technical and management details during this process.
Such expertise is provided by any group or individual with specialized knowledge or training and is available from many sources, including:
Other units within the organization, Consultants, Stakeholders, including customers or sponsors, Professional and technical associations, Industry groups, Subject matter experts (SME), and Project management office (PMO).
QUESTION 487 A method to manage stakeholder expectations in the scope statement is to clearly:
A. state the guiding principles of the organization.
B. identify alternatives to generate different approaches. C. state what is out of scope. D. outline the results of the Delphi technique.
Correct Answer: C
QUESTION 488 Which type of management focuses on ensuring that projects and programs are reviewed to prioritize resource allocation?
A. Project B. Functional C. Program D. Portfolio
Correct Answer: D
Explanation: 1.4.2 Portfolio Management A portfolio refers to projects, programs, subportfolios, and operations managed as a group to achieve strategic objectives.
The projects or programs of the portfolio may not necessarily be interdependent or directly related.
For example, an infrastructure firm that has the strategic objective of “maximizing the return on its investments” may put together a portfolio that includes a mix of projects in oil and gas, power, water, roads, rail, and airports.
From this mix, the firm may choose to manage related projects as one program. All of the power projects may be grouped together as a power program. Similarly, all of the water projects may be grouped together as a water program.
Thus, the power program and the water program become integral components of the enterprise portfolio of the infrastructure firm.
QUESTION 489 One of the tools and techniques of the Manage Project Team process is:
A. organization charts. B. ground rules. C. organizational theory, D. conflict management.
Correct Answer: D
Explanation
9.4.2.3 Conflict Management Conflict is inevitable in a project environment. Sources of conflict include scarce resources, scheduling priorities, and personal work styles.
Team ground rules, group norms, and solid project management practices, like communication planning and role definition, reduce the amount of conflict.
Successful conflict management results in greater productivity and positive working relationships. When
managed properly, differences of opinion can lead to increased creativity and better decision making. If the differences become a negative factor, project team members are initially responsible for their resolution. If conflict escalates, the project manager should help facilitate a satisfactory resolution.
Conflict should be addressed early and usually in private, using a direct, collaborative approach. If disruptive conflict continues, formal procedures may be used, including disciplinary actions.
The success of project managers in managing their project teams often depends a great deal on their ability to resolve conflict.
Different project managers may utilize different conflict resolution methods. Factors that influence conflict resolution methods include:
• Relative importance and intensity of the conflict, • Time pressure for resolving the conflict, • Position taken by persons involved, and • Motivation to resolve conflict on a long-term or a short-term basis.
There are five general techniques for resolving conflict. As each one has its place and use, these are not given in any particular order:
Withdraw/Avoid: Retreating from an actual or potential conflict situation; postponing the issue to be better prepared or to be resolved by others.
Smooth/Accommodate: Emphasizing areas of agreement rather than areas of difference; conceding one’s position to the needs of others to maintain harmony and relationships.
Compromise/Reconcile: Searching for solutions that bring some degree of satisfaction to all parties in order to temporarily or partially resolve the conflict.
Force/Direct. Pushing one’s viewpoint at the expense of others; offering only win-lose solutions, usually enforced through a power position to resolve an emergency.
Collaborate/Problem Solve. Incorporating multiple viewpoints and insights from differing perspectives; requires a cooperative attitude and open dialogue that typically leads to consensus and commitment.
Process: 9.4 Manage Project Team Definition: The process of tracking team member performance, providing feedback, resolving issues, and managing changes to optimize project performance.
Key Benefit: The key benefit of this process is that it influences team behavior, manages conflict, resolves issues, and appraises team member performance.
Inputs 1. Human resource management plan 2. Project staff assignments 3. Team performance assessments 4. Issue log 5. Work performance reports 6. Organizational process assets
QUESTION 490 The process of monitoring the status of the project to update project progress and manage changes to the schedule baseline is:
A. Control Schedule.
B. Quality Control. C. Perform Integrated Change Control. D. Develop Schedule. Correct Answer: A Section: Volume D Explanation Explanation/Reference:
Explanation: 6.6.3.1 Schedule Baseline
A schedule baseline is the approved version of a schedule model that can be changed only through formal change control procedures and is used as a basis for comparison to actual results.
It is accepted and approved by the appropriate stakeholders as the schedule baseline with baseline start dates and baseline finish dates.
During monitoring and controlling, the approved baseline dates are compared to the actual start and finish dates to determine whether variances have occurred. The schedule baseline is a component of the project management plan.
Process: 6.7 Control Schedule Definition: Control Schedule is the process of monitoring the status of project activities to update project progress and manage changes to the schedule baseline to achieve the plan. Key Benefit: The key benefit of this process is that it provides the means to recognize deviation from the plan and take corrective and preventive actions and thus minimize risk.
Inputs 1. Project management plan 2. Project schedule 3. Work performance data 4. Project calendars 5. Schedule data 6. Organizational process assets
Outputs 1. Work performance information 2. Schedule forecasts 3. Change requests 4. Project management plan updates 5. Project documents updates 6. Organizational process assets updates
QUESTION 491 Changes to formally controlled documentation, plans, etc. to reflect modified or additional ideas or content are known as:
A. updates. B. defect repairs. C. preventive actions.
D. corrective actions.
Correct Answer: A
Explanation: 4.3.3.3 Change Requests A change request is a formal proposal to modify any document, deliverable, or baseline. An approved change request will replace the associated document, deliverable, or baseline and may result in an update to other parts of the project management plan.
When issues are found while project work is being performed, change requests are submitted, which may modify project policies or procedures, project scope, project cost or budget, project schedule, or project quality. Other change requests cover the needed preventive or corrective actions to forestall negative impact later in the project. Requests for a change can be direct or indirect, externally or internally initiated, and can be optional or legally/contractually mandated, and may include:
Corrective action—An intentional activity that realigns the performance of the project work with the project management plan.
Preventive action—An intentional activity that ensures the future performance of the project work is aligned with the project management plan.
Defect repair—An intentional activity to modify a nonconforming product or product component; Updates—Changes to formally controlled project documents, plans, etc., to reflect modified or additional ideas or content.
QUESTION 492 Which provides the basic framework for managing a project?
A. Project life cycle B. Work breakdown structure (WBS) C. Enterprise environmental factors D. Project initiation
Correct Answer: A
Explanation: Project Life Cycle. The series of phases that a project passes through from its initiation to its closure.
QUESTION 493 A tool and technique used during the Perform Qualitative Risk Analysis process is:
A. risk data quality assessment. B. variance and trend analysis. C. data gathering and representation techniques. D. risk audits.
Correct Answer: A
11.3.2.3 Risk Data Quality Assessment Risk data quality assessment is a technique to evaluate the degree to which the data about risks is useful for risk management. It involves examining the degree to which the risk is understood and the accuracy, quality, reliability, and integrity of the data about the risk.
The use of low-quality risk data may lead to a qualitative risk analysis of little use to the project. If data quality is unacceptable, it may be necessary to gather better data. Often, the collection of information about risks is diffcult, and consumes more time and resources than originally planned. Process: 11.3 Perform Qualitative Risk Analysis
Definition: The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact. Key Benefit: The key benefit of this process is that it enables project managers to reduce the level of uncertainty and to focus on high-priority risks.
Inputs 1. Risk management plan 2. Scope baseline 3. Risk register 4. Enterprise environmental factors 5. Organizational process assets
Tools & Techniques 1. Risk probability and impact assessment 2. Probability and impact matrix 3. Risk data quality assessment 4. Risk categorization 5. Risk urgency assessment 6. Expert judgment
Outputs 1. Project documents updates
QUESTION 494 In the Estimate Activity Durations process, productivity metrics and published commercial information inputs are part of the:
A. enterprise environmental factors B. organizational process assets C. project management plan D. project funding requirements
Described in Section 2.1.5. The enterprise environmental factors that can influence the Estimate Activity Durations process include, but are not limited to:
Duration estimating databases and other reference data Productivity metrics Published commercial information
Location of team members.
Process: 6.5 Estimate Activity Durations
Definition: The process of estimating the number of work periods needed to complete individual activities with estimated resources.
Key Benefit: The key benefit of this process is that it provides the amount of time each activity will take to complete, which is a major input into the Develop Schedule process.
QUESTION 495 The milestone list is an input to which process from the Planning Process Group?
A. Define Activities B. Estimate Activity Durations C. Estimate Activity Resources D. Sequence Activities
Correct Answer: D
Explanation: 6.2.3.3 Milestone List A milestone is a significant point or event in a project. A milestone list is a list identifying all project milestones and indicates whether the milestone is mandatory, such as those required by contract, or optional, such as those based upon historical information.
Milestones are similar to regular schedule activities, with the same structure and attributes, but they have zero duration because milestones represent a moment in time.
Process: 6.3 Sequence Activities
Definition: The process of identifying and documenting relationships among the project activities. Key Benefit: The key benefit of this process is that it defines the logical sequence of work to obtain the greatest efficiency given all project constraints.
Inputs 1. Schedule management plan 2. Activity list 3. Activity attributes 4. Milestone list 5. Project scope statement 6. Enterprise environmental factors 7. Organizational process assets
QUESTION 496 Quality metrics are an output of which process?
A. Plan Quality Management B. Perform Quality Control C. Perform Quality Assurance D. Perform Qualitative Risk Analysis
Correct Answer: A
8.1.3.3 Quality Metrics A quality metric specifically describes a project or product attribute and how the control quality process will measure it.
A measurement is an actual value. The tolerance defines the allowable variations to the metric. For example, if the quality objective is to stay within the approved budget by ± 10%, the specific quality metric is used to measure the cost of every deliverable and determine the percent variance from the approved budget for that deliverable.
Quality metrics are used in the perform quality assurance and control quality processes. Some examples of quality metrics include on-time performance, cost control, defect frequency, failure rate, availability, reliability, and test coverage.
Process: 8.1 Plan Quality Management
Definition: The process of identifying quality requirements and/or standards for the project and its deliverables, and documenting how the project will demonstrate compliance with relevant quality requirements and/or standards.
Key Benefit: The key benefit of this process is that it provides guidance and direction on how quality will be managed and validated throughout the project.
Outputs 1. Quality management plan 2. Process improvement plan 3. Quality metrics 4. Quality checklists 5. Project documents updates
QUESTION 497 The purpose of inspection in Perform Quality Control is to keep errors:
A. in line with a measured degree of conformity. B. out of the hands of the customer. C. in a specified range of acceptable results. D. out of the process.
Correct Answer: B
QUESTION 498 An input to the Perform Quantitative Risk Analysis process is the:
A. quality management plan. B. project management plan. C. communications management plan. D. schedule management plan.
Correct Answer: D
Explanation:
6.1.3.1 Schedule Management Plan A component of the project management plan that establishes the criteria and the activities for developing, monitoring, and controlling the schedule. The schedule management plan may be formal or informal, highly detailed or broadly framed, based upon the needs of the project, and includes appropriate control thresholds. For example, the schedule management plan can establish the following:
Project schedule model development. The scheduling methodology and the scheduling tool to be used in the development of the project schedule model are specified.
Level of accuracy. The acceptable range used in determining realistic activity duration estimates is specified and may include an amount for contingencies.
Units of measure. Each unit used in measurements (such as staff hours, staff days, or weeks for time measures, or meters, liters, tons, kilometers, or cubic yards for quantity measures) is defined for each of the resources. Organizational procedures links. The WBS (Section 5.4) provides the framework for the schedule management plan, allowing for consistency with the estimates and resulting schedules.
Project schedule model maintenance. The process used to update the status and record progress of the project in the schedule model during the execution of the project is defined.
Control thresholds. Variance thresholds for monitoring schedule performance may be specified to indicate an agreed-upon amount of variation to be allowed before some action needs to be taken. Thresholds are typically expressed as percentage deviations from the parameters established in the baseline plan.
Rules of performance measurement. Earned value management (EVM) rules or other physical measurement rules of performance measurement are set. For example, the schedule management plan may specify: ○○ Rules for establishing percent complete, ○○ Control accounts at which management of progress and schedule will be measured, ○○ Earned value measurement techniques (e.g., baselines, fixed-formula, percent complete, etc.) to be employed (for more specific information, refer to the Practice Standard for Earned Value Management) [9], ○○ Schedule performance measurements such as schedule variance (SV) and schedule performance index (SPI) used to assess the magnitude of variation to the original schedule baseline.
Reporting formats. The formats and frequency for the various schedule reports are defined. Process descriptions. Descriptions of each of the schedule management processes are documented.
Process: 11.4 Perform Quantitative Risk Analysis
Definition: The process of numerically analyzing the effect of identified risks on overall project objectives. Key Benefit: The key benefit of this process is that it produces quantitative risk information to support decision making in order to reduce project uncertainty.
Inputs 1. Risk management plan 2. Cost management plan 3. Schedule management plan 4. Risk register 5. Enterprise environmental factors 6. Organizational process assets
Tools & Techniques 1. Data gathering and representation techniques 2. Quantitative risk analysis and modeling techniques 3. Expert judgment
Outputs 1. Project documents updates
QUESTION 499 When large or complex projects are separated into distinct phases or subprojects, all of the Process Groups would normally be:
A. divided among each of the phases or subprojects. B. repeated for each of the phases or subprojects. C. linked to specific phases or subprojects. D. integrated for specific phases or subprojects. Correct Answer: B Section: Volume D Explanation
Explanation/Reference:
QUESTION 500 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? A. US$5000 CAPM www.Dumpsgate.com .com 286 B. US$9500 C. US$10,000 D. US$12,500
Correct Answer: D
Explanation: CPI = EV / AC US$12,500/US$10,000 = 1.25
Action Point
PS: I know you might agree with some of the points raised in this article or disagree with some of the issues raised.
Please share your thoughts on the topic discussed. We would appreciate it if you could drop your comment. Thanks in anticipation.
