You are the project manager for Lucky Stars Candies. You’ve determined the deliverables and requirements and documented them where?

Waterfall, Agile, and PRINCE2 are all instances of what?

Methods of managing a project

Waterfall, Agile, and PRINCE2 are examples of methodologies used to manage projects.

All of the following statements about the arrow diagramming method (ADM) are correct except which one?

ADM allows for multiple types of dependencies, including finish-to-start, start-to-finish, start-to-start, and finish-to-finish.

ADM only uses the finish-to-start dependency. Precedence diagramming method (PDM), on the other hand, uses all dependency types.

What process group are the activities she is performing connected with?

Planning

Carina is performing activities associated with the Planning process group.

A project manager of Cyber Channels Inc. is known as the process of identifying project risks. While reviewing how the elements of a particular system interrelate, she notes two risks associated with the cause of another risk that were both initially overlooked. Which of the following techniques is the project manager practicing?

Flow chart

System or process flow charts show how the various elements of a system interrelate, which can reveal how a problem occurs. This is done by analyzing the steps of a system and is useful in identifying potential responses to risks.

Which of these following stand for RACI?

Responsible

Inform

Accountable

Consult

A RACI is a type of responsibility assignment matrix that captures resources assigned and how they are associated with the work of the project. RACI stands for responsible, accountable, consult, inform.

According to the latest update of the project schedule, you realize that the project will be completed one month after the desired completion date. You have extra resources on hand and the activity dependencies are preferential. The project is not of high risk and the SPI up to now is 0.89. As a project manager, what would be your best course of action under these circumstances?

Make more activities concurrent

Leveling the resources would generally increase the project duration. Removing the activities under some conditions and using the project change process (discretionary dependency) might be possible but considering that dependencies are preferential and you have extra resources the first thing could be to make more activities concurrent.

What type of power is the teammate performing, and what leadership style does the project manager possess based on this question?

Expert, democratic

This question describes expert power on the part of the brilliant teammate and a democratic leadership style because team members were asked for input before a decision was made.

As a project manager, Jose facilitates a weekly project team meeting to oversee proceedings achieved to date. He starts each meeting by sharing the average number of story points completed over the past one-week iteration. This is known as:

Velocity

Velocity refers to the average cycle time or stories completed per iteration. This is used by the team to predict how long the project will take, assuming that the velocity calculated is reliable.

At what point in the project life cycle does it cost its highest?

Executing

Costs are highest during the Executing phase of the project life cycle when resource usage is at its highest.

An RV rental company is debuting a consignment program for private owners who are looking to rent out their vehicles. The project manager of the project has just started carrying out risk management activities. Since the project manager is undergone in managing risk, she immediately moved into the Identify Risks process. Based on the given information, which of the following is most likely to happen?

The project manager is unlikely to carry out risk management activities effectively, regardless of her level of experience.

The risk manager has omitted the initial process of risk management, which involves creating the risk management plan. The risk management plan is an essential part of carrying out the other risk management processes since it outlines how risks will be identified, analyzed, monitored, and so forth. Therefore, the project manager in this scenario has a low likelihood of developing a risk register that will be useful in carrying out risk management. For exam purposes, the risk management plan is a requirement.

Which of the following statement is incorrect?

Gathering three-point estimates helps generate a more accurate estimate of activity resources needed.

While it’s true that gathering three-point estimates helps to generate estimates with higher accuracy, this is a technique that we use to generate duration estimates, not resource estimates. All other statements are accurate.

If Activity A has an early start of 10, an early complete of 16, and a late start of 12, what is the total float of the activity?

2

Total float refers to the amount of time you can delay the earliest start of an activity without delaying the earliest start of an activity without delaying the ending of the project. To calculate total float, subtract either the early start from the late start or the early finish from the late finish (both give you the same answer).

Which project should you select and why?

Alternative B, because its yield is higher than Alternative A’s yield.

This question requires discounted cash flow analysis to compare the value of Alternative A to Alternative B. Applying the present value formula to Alternative A, the formula is calculated this way: $21,000,000 / (1 + .05)^2 = $19,047,619. Alternative B is calculated this way: $29,000,000 / (1 + .05)^3 = $25,051,831.

All of the following are correct regarding the Initiating process group except which one?

The Initiating process group encompasses the fewest project management processes.

The Closing process group encompasses only one process, not Initiating. Initiating has a total of 2 processes, Planning a total of 24, Executing a total of 10, and Monitoring and Controlling a total of 12.