You use a predictive approach to managing projects and have just finished your cost baseline. Next, you start working on determining funding requirements. Which of the following is correct?

A Management reserves are the difference between the funding requirements and the cost baseline.

explanation

The funding requirements are derived from the cost baseline. Management reserve is released in increments throughout the project, and the funding requirements are an output of the Determine Budget process.

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A project manager is performing quantitative risk analysis. What tangible result is likely to be generated?

An assessment of overall project risk exposure

As part of carrying out the Perform Quantitative Risk Analysis process, updates are made to the risk register. Among the updates are an assessment of overall project risk exposure and detailed probabilistic analysis of the project.

A project manager is performing closing activities and is getting ready to debut project resources. What record can they reference for guidance on how resources are to be released?

Project management plan

The project management plan contains the resource management plan, which addresses how resources will be obtained, managed, and released.

Choose the best statement that describes overall project risk?

The effect of uncertainty on the project as a whole, arising from all sources of uncertainty.

According to the PMBOK® Guide, there are two levels of risk: individual project risk and overall project risk. An overall project risk is the effect of uncertainty on the project as a whole, arising from all sources of uncertainty.

A project manager meets with the team to discuss how they will evaluate budget performance moving forward. What activity is the team participating in?

Developing the cost management plan

The project manager is putting together the cost management plan, which is an activity carried out through the Plan Cost Management process. The cost management plan documents the rules of performance measurement, level of precision and accuracy, units of measure, organizational procedures links, control thresholds, reporting formats, process descriptions, and other budget-related details necessary to develop, manage, and control the budget.

A project has the highest probability of completing successfully at which stage of the project?

During project closure

During Closing, a project has the highest probability of completing successfully.

Choose the best statement that describes the purpose of carrying out activities associated with planning stakeholder engagement?

To develop approaches to involve project stakeholders based on their needs, expectations, interests, and potential impacts on the project

According to the PMBOK® Guide, the purpose of the Plan Stakeholder Engagement process is to develop approaches to involve project stakeholders based on their needs, expectations, interests, and potential impacts on the project. This is the second process of the Project Stakeholder Management Knowledge Area.

A small sample of your project’s PERT calculations is shown here. What is the total period of the project?

To determine the total duration of the project, you add up the expected value for each activity. Note, you calculate expected value only for activities that have zero float.