Qs. A project was assessed and the following Earned value data have been found: PV: $750,000 EV: $750,000 AC: $900,000 what is the Burn rate of the project?A. 1.20B. 1.10C. 1.00D. 0.83

ANSWER: AReference: Project Management, A Systems Approach to Planning, Scheduling and Controlling by H. Kerzner, 8th edition, page 582

For correct answer- Visithttp://pmbootcamp.org- Click on FAQ- Search below keyword- PMBC4010Qs. A project was budgeted at $1,000,000. The project is meanwhile being executed, and the following current figures have been assessed: PV: $500,000 EV: $450,000 AC: $550,000 Assuming that the Cost variance was caused by one-time cost drivers, which are no more effective, what Estimate at completion (EaC) can you derive from these figures?A. $900,000B. $1,000,000C. $1,100,000D. $1,222,222PMBC4011:

ANSWER: CReference: PMBOK Guide 4th Edition, page 184 (.EAC forecast for ETC work performed at the budgeted rate.).Qs. A review of your project team memberA. Increase the frequency of team review meetings and status reports.B. Increase the pressure on each team member to adhere to deadlines.C. Post a special reward for the best performing team member.D. Improve feelings of trust and cohesiveness among team members.

PMBC4012:

ANSWER: DReference: PMBOK Guide 4th Edition, pages 229-230.Qs. A Run chart is a useful tool to show...A. ...patterns and trends in a row of data points.B. ...behavior of data points against control criteria.C. ...behavior of data points against specifications.D. ...the error margin of a sample versus a whole population.

PMBC4013:

ANSWER: AReference: PMBOK Guide 4th Edition, page 211.Qs. A project team member informs you that a particular task is taking much more time than what was budgeted. You are surprised because you, as a project manager, had not anticipated this delay, and you ask for status reports and forecasts from all project team members. Which process group are you in?A. InitiatingB. ExecutingC. Monitoring and ControllingD. PlanningPMBC4008:

ANSWER: CReport Performance? is the process of collecting and distributing performance information, including status reports, progress measurements, and forecasts, etc. Reference: PMBOK(r) Guide Fourth Edition, Page 63 and 266 Report Performance is a part of Monitoring and Controlling process group. Table 3-1, Page 43Qs. A tool and technique of Control Schedule is:A. The schedule management plan.B. Variance AnalysisC. Design of experiments.D. Performance measurements.PMBC4014:

ANSWER: BVariance Analysis. PMBOK Guide Fourth Edition, Chapter 6, Section 6.6.2Qs. At the end of an internal project, you find several key stakeholders including the sponsor reluctant to finally accept all deliverables and then close the project. What should not be your next step in this situation?A. Identify any open issues and get them solved. Then be firm on formal closure.B. Formally close the project. Stakeholders will find a way by themselves to sort things out.C. Identify and openly discuss personal rationales underlying the reluctance.D. Invite earnest feedback from all sides and try to identify misunderstandings.

PMBC5001:

ANSWER: BReference: PMBOK Guide 4th Edition, page 99.Qs. Complete final contract performance reporting and verify the product is done in _______ .A. Plan ProcurementsB. Conduct ProcurementsC. Administer ProcurementsD. Close Procurements

PMBC5002:

ANSWER: DComplete final contract performance reporting and verify product is done in Close Procurements.Qs. What is the most important benefit of a 360 degree review?A. The reviewed person will regard the assessment process as fair and developmental.B. Assessments from different perspectives leave no weak spot of a person unaddressed.C. Managers will be assessed by their subordinates, enforcing a more participative style.D. One can use a simple standard questionnaire to gather data from the reviewers.

PMBC5010:

ANSWER: AReference: Managing Project Quality by Timothy J. Kloppenborg and Joseph A. Petrick, page 66Qs. What is not the main purpose of a final Project report?A. Preparing acceptance of the final product, service or result.B. Making stakeholders aware that the project has been closed out.C. Acknowledging what has been done and achieved by all contributors.D. If a project has been cancelled before completion: Explaining the causes.

PMBC5009:

ANSWER: AReferences: PMBOK Guide, 4th Edition, page 102; Tom Kendrick, Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project, page 323Qs. What should you avoid when you are organizing documents as Lessons learned?A. Devise the lessons learned documentation in a wording which is easy to understand for a reader who is not familiar with the project.B. Lessons learned must detail how certain groups or persons caused failures and delays, especially if they are inside the own organization.C. Writing lessons learned should be an exercise enhancing your personal learning experience. Make sure you grasp what you are writing down.D. Keep lessons learned documents at a place where they are easy to access and to retrieve for those who may later need the information.

PMBC5011:

ANSWER: BReference: PMBOK Guide 4th Edition, page 214.Qs. When finishing a project, which factors that influence customer satisfaction the most should you be aware of?A. Attractive price of the project and low running costs of the productB. Friendly project manager and effective after-project serviceC. Efficiency of the project and skills of the project managerD. Conformance to requirements of the project and fitness for use of the deliverablesPMBC5012:

ANSWER: DPMBOK Guide 4th Edition, page 190.Qs. When you (the buyer) administer a contract, you should pay attention to all the following EXCEPT:A. Ensure that contractual obligations are met.B. Apply appropriate project management processes to the contractual relationship and integrate the outputs from these processes to the overall management of the project.C. Monitor payments to the seller.D. Perform regular procurement audits.PMBC5013:

ANSWER: DA procurement audit is a structured review of the procurement process originating from Plan Procurements process through Administer Procurements process. This is one of the tools and techniques used in Close Procurements process. Reference: PMBOK(r) Guide Fourth Edition, Page Number:336 and 343Qs. Which is not an example of a correctly handled Contract closure procedure?A. Early termination of a contract because of a repudiatory breachB. Settling and finally closing the contract agreementC. Product verification by stakeholders and administrative closureD. Early termination of a contract because of an immaterial breach

PMBC5014:

ANSWER: DReference: PMP: Project Management Professional Study Guide, by Kim Heldman, Claudia Baca and Patti Jansen, Deluxe Edition, pages 449-452Qs. You are a project manager. At the executing stage of the project, all the following statements are correct EXCEPT:A. Most of the project budget will be expended in project plan execution.B. The project manager and the team implement the planned methods and standards.C. The project manager will review all information from the current phase closures.D. The project manager and the team manage risks and implement risk response activities.

PMBC5015:

ANSWER: Cwhen closing the project, the project manager will review all prior information from the previous phase closures to ensure that all project work is complete and that the project has met its objectives. Reference: PMBOK(r) Guide Fourth Edition, Page 99Qs. You are currently finishing a project under contract to develop and build some machining equipment for a customer. Your organization took over the obligation to solve certain problems if they come up during a contractual Warranty period of one year after Start of production. What do you not have to consider during the warranty period?A. Parts which were marked As-Is must be held available for free replacement in case of failure.B. Incoming problems reported to the team must be handled immediately and with high priority.C. Some team members must be held available during the warranty period in case that they have to solve problems.D. At the end of the warranty period, the responsibility for the equipment will be turned over to the customer

PMBC5016:

ANSWER: AReference: Project Management JumpStart by Kim Heldman, page 268Qs. You are working on a project for the last six months. Your management lets you know that you will receive an incentive of $ 5,000, if you complete the project one month ahead of schedule. When closing the project ahead of schedule, your team informs you that the product contains a minor flaw and may not fully satisfy the customer"s needs. However, rectification of the minor flaw will require lot of changes and take 2 more months. In this context, you will:A. Close out the project.B. Review the situation with your customer and sponsor.C. Rectify the flaw and then close out the project.D. Close the project and then inform the sponsor about the flaw.

PMBC5017:

ANSWER: BOption B: Since this is a "minor flaw," but rectification of that flaw would take a long time, it is better to discuss with the sponsor and customer and get their inputs Option A and Option D: This is unethical - the project manager should definitely complete the project as per the specifications before closing the project. Option C: Rectification of a minor flaw can lead to delay of 2 months in the project: so, the project manager should first inform the sponsor and customer before rectification of the flaw.Qs. You finished your project for a customer to implement a business software solution. All deliverables have been handed over and are already in use by the company. There is a minor last payment to be made by the customer on contract closure. You believe that it is now getting time to finally close the contract with the customer and then administratively close down the project. You approached the customer this morning and found that they are reluctant to finally close the contract. But you do not exactly understand why. What should you not do?

A. Update all documents related to the project and the product so that they reflect the final specifications and the status of both the project and the product. Organize them in a fashion for easy access.B. Focus on your next project and leave the customer the time to get familiar with the software. They will come back to you anyway after some weeks to terminate the contract and make the last payment.C. Based on the contract and all documents which are relevant for the formal relationship with the customer, write a close-out report describing what was contractually required and what was obtained.D. Make sure that there are no active purchase orders against the contract or any other pending obligations, requests or claims from either party which need to be resolved. Then insist on formal contract closure.

PMBC5018:

ANSWER: BReference: PMBOK Guide 4th Edition, pages 99-102.Qs. Your project is complete and you are performing project closure activities. In this context, what should you do LAST?A. Creating final product, service, or result transitionB. Releasing project resources working on the projectC. Updating organizational process assetsD. Accepting deliverables

PMBC5019:

ANSWER: BFinal product, service, or result transition, organizational process assets updates are outputs of the Close Project or Phase and accepted deliverables are its inputs. However, even Close Project will need resources (e.g. people, equipment, etc). Hence, releasing of project resources should happen at the very end of the Close Project or Phase.Qs. Your project team is on its way to finish work on the project, while you have the impression that a staff member is already negotiating the next assignment in another project. You are afraid that the person may come under pressure to start working on the other job before she has finished her work for your project. Her task is very complex, and it would be hard for someone else to take up the partial results and finish them. What action is most likely to resolve the situation?A. Have a private meeting with the person and discuss your observations. Make the person aware of the contract and of the legal consequences of unfinished work.B. Have a meeting with the entire team and discuss the personC. Use your network of project managers to find another assignment for the person which allows for smooth transition and does not conflict with your needs.D. Ignore your observations and let the team member do her job. It is quite uncommon that staff drops work for a project before it is completely finished.

PMBC5020:

ANSWER: CReference: PMBOK Guide 4th Edition, page 224 (last paragraph).Qs. Your project work has generally been finished and you want to commence a solid closing process for the project. What must have been attained to begin this process?A. The deliverables of the project must have been accepted.B. The Organizational process assets must have been updated.C. The final product, service or result transition must have been finished.D. Lessons learned must have been organized into a data base.

PMBC5021:

ANSWER: AReference: PMBOK Guide, 4th Edition, pages 101-102.Qs. As a leader, how should you deem Ethical conduct?A. You should ensure ethical conduct throughout the team by use of means including recognition and awards and in tight cooperation with the team membersB. Ethical conduct is all right as long as it does not impact the achievement of objectives and does not damage the performing organizationC. You are the role model for the team. Your personal integrity demonstrates the desired skills, behavior, and attitudes whose adoption may benefit team members.D. There are often dilemma situations in business. Then you may have to suspend your integrity and do what is appropriate. There may be long term negative effects, but these are not your responsibility

PMBC6001:

ANSWER: CReference: Ethics, the Heart of Leadership by Joanne B. Ciulla (ed), page 29Qs. As a project manager you can assign any one of two team members to a highly coveted task. Both are equally capable, but one of them is a member of your in-group. To the other one, you have far more distance. How should you behave?A. You disclose the situation to stakeholders and solicit a joint decision.B. You take the person not in your in-group to avoid misunderstandings.C. Chose the in-group person. The trustful relation will benefit the project.D. You delegate the decision to a third team member to avoid the conflict.PMBC6002:ANSWER: AReference: PMI Code of Ethics and Professional Conduct, page 4 (www.pmi.org/PDF/appmicodeofethics.pdf).Qs. As a project manager, when should you especially consider cultural differences?A. When you break down scope to create a Work breakdown structure (WBS).B. When you assign a human resources to do the work in a Schedule activity.C. When you develop acceptance criteria for work results to be achieved by the team members.D. When you decide upon recognition and awards during Team developmentPMBC6003:

ANSWER: DPMBOK Guide 4th Edition, page 234.