Some questions that need clarification and justification
















Please give your explanation and justification for this, I'am not convinced with the answer, I do accept that a project is a temporary assignment, but I cant understand how this fits in here...


 


Question :
This project was originally scheduled for completion in 1 year but 2 years have already passed and even now the project is in execution phase. Which statement is TRUE about the project?
 

1.   It is a temporary project
2.   The requirements were added later, hence the delay
3.   A key resource has left the organization, hence the delay
4.   The company has a limited development license environment, hence the delay
Correct Answer is : 1

A is the correct answer.
Project is continuing to expand means it is temporary project.
Other options can be achievable to complete the project if it is important for organization.
 













Question :
The 2 years project has 200 work packages and a $20,000 budget. After one year, 100 work packages are completed and $10,000 has been spent. Which of the following is TRUE?
 
1.   The project need 50 work package to be completed in 6 months.
2.   Not enough information available.
3.   The project need 50 work package to be completed in 3 months.
4.   The project is on schedule and on budget.


 


Again your answer and justification to it....













Question :
You are a project manager of a company. You are taking over a project during the planning process, and you discovered that many individuals have signed the project charter. Which of the following should be areas of concern for you?
 
1.   Who will be a member of the change control board?
2.   Who are the stakeholders for the project?
3.   Need to spend more time on configuration management.
4.   Determining the reporting structure.
















Is there something called control management system... I'am hearing this term for the 1st time...


 


 


A project manager has created a document and wants to track the changes made in the document. The project manager should create _______.
 

1.   Configuration Management System
2.   Project Management Information System
3.   Project Management System
4.   Control Management System
Correct Answer is : 4

D is the correct answer.
Control Management System tracks the changes.
 













Question :
In which of the following contract types the seller's profit is limited?
 
1.   Cost-plus-percentage-cost contract
2.   Cost-plus-fixed-fee contract
3.   Firm Fixed price contract
4.   Fixed-price-incentive fee contract













You are the project manager and you meet with your project team to ensure the project is completed with no deviations from the project requirements.This is part of?
 
1.   Quality Control
2.   Quality assurance
3.   Plan Quality
4.   All of the above

Q#6 - I will go woth Option 3 - Plan Quality.


Option 1: QC comes during execution


Option 2- QA is management tool to ensure all quality related issues are addressed by proper standards & measures in place


Option 3: PM along with team translates requirements into achievable & measurable approaches and ensures all requirements are properly addressed in the planning stage itself.


Option 4: It is tempting but PMP exam format choices will never use 'None of the above', 'All of the above' type generic choices


 


Chandra

Many Thanks !!! for Q6 answer and explanation...

This is very obvious here !!!

Q# 5: I will go with Option 3- FFP.  All the other options give the seller some additional fee on top of the costs where as FFP - the amount is fixed - no matter the costs incurred thereby limiting the profits in case of cost overruns


 


Chandra

Again, that was the option and the thinking I had when I selected the answer, but it was incorrect, Option 2 was the correct, can some1 please explain me why ??? I'am really getting confused...

In Firm Fixed price the seller could increase the profit by adding high buffer in profit margin before submitting the proporsal.

In CPFF seller has limited profit magin as the calculations are visible to buyer and seller can demand only predetermined profit margin.

what if costs over run?  In FFF, they will be eaten up and the profit gets less and less and can become zero , can become negative.  In CPFF, all the costs incurred will be absorbed by the buyer and the seller is guaranteed to make a certain fixed amount of profit whereas FFF is risky for the seller and it limits the profit.   If the seller puts a large buffer in FFF, he may not win the contract in the first place if it is not competitive.


 


Chandra

I Agree with Chandra for Q5, and still I think that FFF is the best option for Q5, if any1 else has any other point of view please bring it up with justification...

Simple! Limited means fixed in this case! Option 2 is the only one where profit is assured and fixed whatewer will happen with the costs; in the other option profit is variable and could be negative in same case.

I hope is helpful!
Danilo

Other options doesnt look like having "Fixed" profit. FPP, can have variable profit. Incentive is variable.

The PMP Guru's picture

Well alot of people are confused in these terms and I am already writing a comprehensive Article over It.

Already Launched Change Control Board, PMIS is in Draft and am just waiting to complete the Configuration Management and rest to launch it simultaneously.

http://thepmpguru.wordpress.com/2010/05/05/change-control-board-ccb/

 

Q-4 Answer is Control Management System basically this is (Change Control system) Where besides other functions of it, You keep Track of the Changes as well.

Hope it Helps.


ok... so Change control system, control management system all are same....????? and part of integrated change controll process...

The PMP Guru's picture

Yes..

Just wait for a couple of more days and then visit my Blog and hopefully these Vague Terms will be much clearer to you and many...

These Terms are very Important and Quite frequently appearing in the Exam and are very important..

Nothing like control management system.

Q#2 - Option 4.  You completed 50% of work in 50% of budget.  Both your SPI & CPI are 1.  You are on schedule and on budget

 

Chandra

I also selected option 4, but the website said it was incorrect....


The correct option was option2, saying "no engough information", that is why I got confused, and wanted to clarify it...


Many Thanks...!!!!!!!!!!!!

The PMP Guru's picture

Well I would agree with them, As in the Question. You are not told about your Planned Value after One Year and The question didn't mention whether you are On Schedule Or Budget.

So I guess they are Right. Option.2 is The Correct Answer. There is no Information, What the Question is asking for...

Yes in the answer, An option has been given about the schedule and Cost and we Prove it to you. But the Question is not inquiring about it...

This is true because WBS does not mean that all activities are equally divided. There could be some WBS that can be completed in 10 days while osme of them can take months. So looking at WBS completion does not give complete knowledge of project schedule.

The PMP Guru's picture

Years=2---WP=200---- BAC=$20,000

Years=1---WP=100-----BAC=$10,000

BAC=20,000

PV=10,000

EV=10,000

AC=10,000

CPI=EV/AC =0

SPI=EV/PV=0

So you are On Schedule and On Budget.

 

Thanks...

chowdary2104's picture

CV = EV - AC = 0


SV = EV-PV = 0


CPI = EV/AC = 1


SPI = EV/PV = 1


That is the reason, it is on Schedule and on Budget...

Ans: Enough info not available. Where do you have the baseline info OR the Planned value at 1 year? Dont assume the figures as you mentioned above.

answer 1 and 3 don't have any sense.


Answer 2 could be right but answer 4 is the better coiche 'cause the project is on budget (half wp with half budget), so probably is on schedule too.

Not enough info available is the corrent. The project doesnt say its on schdule as baseline work information is not available.

The PMP Guru's picture

The Questions cannot give any description regarding Answer Options 2,3,4 So we need to concentrate on Answer:1.

A Project is a Temporary Endeavor.

Now this dosen't mean that Project's are for One month or One Year. Projects can last for years and even then are not completed and Terminatted finally.

Temporary means begin and end date.

Projects ends when the Project objectives is achieved.

 

I think this is enough if you want me to write a Bible, I will do it.

 

Kind regards,

The PMP Guru

http://thepmpguru.wordpress.com/

Why cant it be option 2, where in the scope was added to the project, and so the project got extended, I completely understand what you are trying to say, but my question is why can it be option 2...

The PMP Guru's picture

The Question didn't mention, What happend. why is the Project getting delay.

Is it Political, Scope, Environmental Nothing is mentioned...

 

You mixed all the question's, It would have been better you ask one by one

Q2: I agree that the answer should be 2 (not enough of information provided)

Option 4-  You are on schedule and on budget --> This is not true because you are assuming that all the work packages have same cost and duration. Making such assumptions is never right espc for exams!

Absolutely, I prefer going along with Dinduboy


100 of the 200 work packages doesn't necessarily mean half the work , though cost wise we are clear that half the amount has been consumed .....This is one of such cases wherein we normally would become victim of typecast questions ....


You'd certainly need more info to be able to answer that question ....Now , Step out of the PMP exam mode and think for a while , would this information be sufficient to deduce inferences


I go with Option 2 for Qs 2


 


 

Now that I'am clear with Q1 & Q2, Can we please move on with rest of the questions please !!!!...


Thanks to every1 who shared their valuable openion....


Thanks to every1 in advance for the rest of the questions...


Hope this will be helpful for every1 not only me...

The PMP Guru's picture

Well I would go for The Stakeholder's.

Once they are fully identified after then , You can decide who will be on the CCB, Congiguration Management and the reporting comes afterwards...

 

Kind regards,

The PMP Guru.

Even I selected that option, but that was incorrect again... Option 3 was the right answer... went zoinks...

Please can some one help me understand these....!!!!!!!


Thanks in Advance..!!!! : )

Please can some1 explain me these...?????

The PMP Guru's picture

Well If you ignore my Previous Answer,

Q:3.

Let's First extract the Clues from The Question: You are in Planning, Alot Of Individuals Signed the Contract.

It Means there are many Stakeholder's and also since we are in Planning so let's assume that The Stakeholder's analysis and Strategy has been developed as well.

So

1: Who will be a member of the change control board? <--- You don't need to worry for this.

2: Who are the stakeholders for the project? <--- We are in Planning and Stakeholder's has been identified in Initiation.

3: Need to spend more time on configuration management <----- Since there are many individuals sign the Charter, So you must be worried about the Changes (So you need to worry about this.) So I guess this is the possible answer.

4: Determining the reporting structure. <--- In Initiation Stakeholder's analysis and Strategy has since been developed the reporting issue has already been clarified as well.

 

Q:5.

Well If you look at Risk wise then I guess this Picture is much Clearer on that and if you convert it to the Profit, Loss then I don't know whether it would fit there or not. Will have to double check.

http://thepmpguru.wordpress.com/2010/04/30/who-owes-the-risk-buyer-or-se...

The PMP guru

HI:


Thanks for the replies for Q3 & Q5, I was not ignoring your answer, I also selected the same option, but that was not right, and that is why I wanted some help from you people to explain me why I was wrong and wat was the correct answer... no hard feelings please.... I just wanted to make sure where I'am doing the mistake and correcting things..


Thanks to every1 who helpd me understand things...nice sharing of knowledge with all of you...


BR


Badhri...

The PMP Guru's picture

You are Wellcome and Thanks.

The Good Thing is that when you don't know an asnwer and someone else give you the answer, Don't just think that the guy is saying it's correct may be he is wrong too. Thanks for your active participation and not aggreeing to the wrong answer, Correcting us too.

I am thinking again to re-read The PMBOK and all the best books as am getting wrong in many questions :)

I will try to explain why!
You are in planning and process 10.2 plan communication is part of it. During plan communication you plan which kind of information wou will distribute, who will receive information grouped by type. You plan format, contents, details too, so if you have a lot of stakeholders, that in this case are sponsor too, you amy be concerned abou it.
I hope this is the right answer!
Let me know
Danilo

For Q3 optoin 4 is incorrect!!! ... there is already a discussion about it.. the correct option is option3...

It doesn't make sense!

Identify stakeholders 10.1 is one of first step on a project initiating!!!
Identify all stakeholders in the proper way is always one of the big issue that PM has!
Project is in planning now and the PM discover that many people signed project charter and of courser all of them is a stakerholder (the sponsor should be issued and sign the project charter according to PMBoK) so I can't understand why the PM is concerned about it!
I should accept the answer if talk about sponsor, but not the stakeholder.
Where did you find this question?
For me somethings is wrong!
Let me know
Danilo

Please find the reply by PMGuru for Q3 and the explanation...if you still are not convinced by it, I'am ready for a feedback/justification from  any1....even I need more explanations(as of now I'am convinced with the reply of PMGURU)

Project Charter is an input to identify stakeholders.  So by looking at Project Charter PM should not concern about who are the stakeholders.  That eliminates the stakeholder related choice straight away!


Chandra