Project Management (C722)
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Free Project Management (C722) Questions
A project is an operational necessity to update legacy software programs. Once the project was underway, a change request was submitted to the project manager. The requested change may affect multiple programs being updated by the project. The organization is concerned about avoiding failures caused by nonconformance to specifications. Which action should the project team take to ensure that the scope change will be ready to be reviewed by the customer
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Using the Theory X style of management
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Inflating the baseline's estimates
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Creating the stakeholder management grid
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Following the quality control plan
Explanation
Correct Answer:
D. Following the quality control plan
Explanation:
Following the quality control plan ensures that the change request is properly reviewed and meets the required specifications, which helps in avoiding nonconformance and delivering a product that aligns with customer expectations.
Why the other options are incorrect:
A. Using the Theory X style of management – This management style assumes employees are inherently lazy, which is not related to handling scope changes effectively.
B. Inflating the baseline's estimates – This is not a recommended practice as it could lead to inaccurate project forecasts.
C. Creating the stakeholder management grid – While stakeholder management is important, the issue at hand involves ensuring the scope change is properly reviewed and controlled, which is done by following the quality control plan.
Which project management activity will most directly contribute to this strategic business initiative
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Project controls
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Project contracting
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Project execution
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Project scheduling
Explanation
Correct answer C. Project execution
Explanation:
The execution phase is where the plans are put into action. This activity will directly contribute to the development of the new business model and the delivery of the tailored service to customers. It involves the implementation of the strategies necessary to meet the initiative's objectives.
Why the other options are incorrect:
A. Project controls – While important for monitoring and managing the project, project controls focus on ensuring the project stays on track and does not directly contribute to the creation of the business model.
B. Project contracting – This focuses on the formalization of agreements and external parties involved but is not directly related to the business model’s development.
D. Project scheduling – Scheduling helps in organizing the timeline but does not directly contribute to the strategic business initiative of delivering a tailored service.
Which goal distinguishes project management and portfolio management
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Project management involves making wise investment decisions whereas portfolio management does not.
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Portfolio management is an easy task whereas project management is a more difficult task.
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Project management addresses specific, short-term goals whereas portfolio management focuses on long-term goals.
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Portfolio management asks questions like, "Are we carrying out projects efficiently?" whereas project management asks questions such as "Are we investing in the right areas?"
Explanation
Correct Answer:
C) Project management addresses specific, short-term goals whereas portfolio management focuses on long-term goals.
Explanation:
Project management focuses on the execution and delivery of individual projects with specific short-term goals, such as completing a task, meeting deadlines, and staying within budget. In contrast, portfolio management is about aligning multiple projects with the strategic objectives of the organization and ensuring that resources are allocated to long-term goals. Portfolio management considers the overall balance of projects and their alignment with organizational strategy over time.
Why the other options are incorrect:
- A) Project management involves making wise investment decisions whereas portfolio management does not. – This is inaccurate. Portfolio management is more concerned with investment decisions, as it involves selecting and prioritizing projects that align with business goals.
- B) Portfolio management is an easy task whereas project management is a more difficult task. – This is incorrect. Both portfolio management and project management have their complexities. Portfolio management involves strategic oversight, while project management focuses on tactical project execution.
- D) Portfolio management asks questions like, "Are we carrying out projects efficiently?" whereas project management asks questions such as "Are we investing in the right areas?" – This is also incorrect. It is portfolio management that focuses on whether the organization is investing in the right areas, while project management typically addresses efficiency, timelines, and budget for individual projects.
Which two reasons will cause a project team to return to the planning phase
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Two important subject matter experts (SMEs) leave the project team.
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The project management software platform must be upgraded.
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The project is behind schedule.
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The customer requests changes to the project outcomes.
- Planned activities are insufficient to meet objectives.
Explanation
Correct answer: D. The customer requests changes to the project outcomes.
E. Planned activities are insufficient to meet objectives.
Explanation:
- If the customer requests changes to the project outcomes, the project team must return to planning to accommodate those changes and adjust the project scope and objectives.
- If planned activities are insufficient to meet objectives, the project team will also need to revisit the planning phase to revise or add activities to meet the project goals.
Why the other options are incorrect:
A. Two important subject matter experts (SMEs) leave the project team. – While this may impact the project, it does not automatically require returning to the planning phase unless it impacts the scope or objectives significantly.
B. The project management software platform must be upgraded. – This is a tool issue, not directly related to returning to the planning phase.
C. The project is behind schedule. – Being behind schedule does not necessarily mean the planning phase needs to be revisited unless it’s due to changes in scope or resources.
Which tool would a project team use to establish precedence relationships for the activity list of each work package identified in the work breakdown structure (WBS)
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Project statement of work (SOW)
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Network diagram
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Resource breakdown structure (RBS)
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Gantt chart
Explanation
Correct Answer:
B. Network diagram
Explanation:
A network diagram is used to visually represent the relationships between activities and establish precedence relationships, showing which activities depend on others.
Why the other options are wrong:
A. Project statement of work (SOW) – The SOW defines the project scope but does not establish activity relationships.
C. Resource breakdown structure (RBS) – The RBS focuses on resources, not activity relationships.
D. Gantt chart – While a Gantt chart is helpful for scheduling, it does not explicitly establish precedence relationships like a network diagram.
A calendarized budget is built using a work breakdown structure and budget. What is the third component used in making a calendarized budget
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Critical path
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Network diagram
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Project plan
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Project charter
Explanation
Correct Answer:
A. Critical path
Explanation: The critical path helps identify which tasks are essential to the timeline and are needed for creating a calendarized budget, along with the WBS and budget.
Why the other options are incorrect:
B. Network diagram – While useful in the planning phase, it is not the third component needed for a calendarized budget.
C. Project plan – The project plan outlines the overall approach but is not directly used in making a calendarized budget.
D. Project charter – The project charter is used to define the project's scope but does not directly relate to creating a calendarized budget.
A project is running behind schedule. The project manager decides to compress its remaining schedule by allowing some activities to be fast-tracked. Which triple constraints are affected by this project manager's decision
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Price and incentives
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Cost and price
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Scope and time
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Time and cost
Explanation
Identify the correct answer:
d. Time and cost
Explanation for why it is correct:
Fast-tracking typically involves shortening the schedule, which affects the time constraint. Additionally, fast-tracking often involves additional costs due to the need for extra resources or concurrent tasks, impacting the cost constraint.
Why the other options are incorrect:
- a. Price and incentives: These are not the primary focus of fast-tracking. The main impact is on time and cost.
- b. Cost and price: Fast-tracking impacts cost, but it primarily impacts time rather than price or incentives.
- c. Scope and time: Fast-tracking does not directly affect the scope; it focuses on meeting deadlines by altering the schedule.
Which activity is accomplished as part of the executing process of a project
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Verifying that the final deliverables meet the required scope
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Reconciling the vendor accounts
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Training and coaching team members
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Finalizing the project scope
Explanation
Identify the correct answer:
c. Training and coaching team members
Explanation for why it is correct:
Training and coaching team members is part of the executing process. During this phase, the project manager focuses on directing and managing the team to complete the work.
Why the other options are incorrect:
- a. Verifying deliverables is part of the monitoring and controlling process, not executing.
- b. Reconciling accounts is more aligned with project closure or financial processes, not executing.
- d. Finalizing scope typically happens during the planning process, not executing.
You are a personnel management specialist recently assigned to a project team working on a team-based reward and recognition system. The other team members also work in the human resources department. The project charter should be issued by
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The project manager
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The client
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A sponsor
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A member of the PMI who has jurisdiction over human resources
Explanation
Correct Answer: c.
A sponsor
Explanation:
The project sponsor is typically responsible for issuing the project charter. The sponsor is a person or group who provides the resources and support for the project and is accountable for its success. They initiate the project and ensure that the project's goals align with organizational objectives.
Why the other options are incorrect:
- a. The project manager – While the project manager plays a key role in executing the project, they are typically not the ones who issue the project charter. The sponsor usually creates and approves it.
- b. The client – The client may be involved in providing requirements or defining the scope, but they typically do not issue the project charter.
- d. A member of the PMI who has jurisdiction over human resources – The Project Management Institute (PMI) doesn't issue project charters. The charter is issued by a sponsor within the organization.
Canton Technologies is about to sign a three-year contract with a large accounting firm to manage all accounting functions of the firm including filing tax returns. The CFO has a budget for Accounting and Tax services. What action can the CFO take to transfer the risk of exceeding the budget
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Agree to a cost-plus contract with the accounting firm
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Agree to a fixed-price contract with the accounting firm
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Reduce internal staff support to the accounting firm
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Hire temporary staff to file tax returns
Explanation
Correct Answer:
B. Agree to a fixed-price contract with the accounting firm
Explanation: A fixed-price contract transfers the financial risk of exceeding the budget to the accounting firm, as they will be responsible for managing the work within the agreed price.
Why the other options are incorrect:
A. Agree to a cost-plus contract with the accounting firm – This does not transfer the risk of exceeding the budget, as the cost would be reimbursed plus a fee, leaving the risk with the CFO.
C. Reduce internal staff support to the accounting firm – This does not address the budget risk transfer issue.
D. Hire temporary staff to file tax returns – This may be a different approach, but it does not transfer the budget risk to an external party.
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