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Q137. You are the project manager of the GHY Project. This project is scheduled to last for one year and has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are supposed to be at your second milestone, which accounts for half of the project completion. There have been some errors in the project, which has caused you to spend $2,073,654. What is this project's planned value?
A. $2,025,000
B. There is not enough information to know
C. $4,500,000
D. $2,250,000
Answer: D
Q138. What forecasting method would your project use if your project customer requires an autoregressive moving average for performance forecasting?
A. Judgmental methods
B. Time series method
C. Ensemble forecasting
D. Causal/econometric method
Answer: D
Q139. You are the project manager of the NGG Project. This project will be using a new material that the project team has never worked with before. You'd like to use some preventive action to ensure that the installation of the new materials is successful in the project. Which one of the following project actions is an example of the best preventive action for this project?
A. Hire a subject matter expert to train the project team how to install the materials.
B. Purchase additional materials so in case the team wastes materials during their installation.
C. Hire a subject matter expert to install the new materials.
D. Create incentive by rewarding the project team if they don't waste the materials.
Answer: A
Q140. Harry is the project manager of a large network installation project. This project requires Harry to add network cable to each office and cubicle of a 14-story office building. Harry will receive a bonus for good time and cost performance in this project. What law of economics would prevent Harry from exponentially adding labor to the project work in an effort to complete the work in a very small amount of time?
A. Parkinson's Law
B. Law of Diminishing Returns
C. Law of Economics
D. Moore's Law
Answer: B
Q141. You work as a stakeholder for ABC Inc. You are on an important feature of a project that appears too difficult to execute. Issues like acceptable type of bugs and number of bugs for user acceptance seem to have affected the project. What is the rate of risk factor in such a situation?
A. Risk factors are rated high.
B. Risk factors are rated low.
C. Risk factors are rated medium-high.
D. Risk factors are rated medium.
Answer: A
Q142. You are the project manager of the GHY Project. This project is scheduled to last for one year and has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are supposed to be at your second milestone, which accounts for half of the project completion. There have been some errors in the project, which has caused you to spend $2,073,654. Based on the budget at completion, what is this project's to-complete performance index?
A. -$108,120
B. 0.98
C. $2,500.000
D. 1.02
Answer: D
Q143. Tom is the project manager of the HQQ Project. His project has a schedule variance of -$34,500 due to some errors early in the project. Management would like to know how Tom will respond to these variances. What action can help Tom to manage the errors in the project and to ensure that the errors would not occur again?
A. Lesson learned documentation
B. Risk analysis
C. Preventive action
D. Corrective action
Answer: D
Q144. Amy is working on a project which is forty percent complete though it was scheduled to be fifty percent complete as of today. Management has asked Amy to report on the schedule variance for her project. If Amy's project has a BAC of $750,000 and she has spent $485,000 to date, what is the schedule variance value?
A. -$75,000
B. -$42,000
C. -$45,000
D. -$65,000
Answer: A