A project manager is in the middle of executing the construction of a high-rise plaza when the government regulatory agency announces an increase in the price of fuel. The project still has seven months left on the schedule. What should the project manager do first?
Correct Answer: A
PMP Exam Question 62
A large and complex project is comprised of multiple regions. The estimate to complete (ETC) work is assumed to be performed at the same cumulative cost performance index (CPI) as that incurred by the project to date. As of now, the earned value (EV) is 145 person/day, the planned value (PV) is 145 person/day, the actual cost (AC) is 170 person/day, and budget at completion (BAC) is 285 person/day. What is the estimate at completion (EAC)?
Correct Answer: A
When future performance is expected to continue at the same cost efficiency (CPI), the formula to calculate Estimate at Completion (EAC) is: EAC = BAC / CPI Step 1: CPI = EV / AC = 145 / 170 # 0.8529 Step 2: EAC = 285 / 0.8529 # 334 person/day Thus, the correct estimate at completion is approximately 334 person/day. Option B is the original BAC and does not reflect cost inefficiency. Options C and D are incorrect based on the formula and data provided. References: PMBOK Guide - Sixth Edition, Section 7.4: Control Costs Earned Value Management Formula Sheet (PMI) -
PMP Exam Question 63
A retail chain is evaluating a project to replace payment systems across all its stores in multiple locations The project does not pass the financial threshold but is also expected to increase market share, improve customer services and retain more customers The project is planned as a phased implementation building on learning from the retrospectives during each phase How should the business increase the value of the project?
Correct Answer: A
The benefits management plan is a document that describes how the benefits of the project will be delivered, measured, and sustained. It includes the benefits identification, analysis, planning, realization, and transition activities. By quantifying the expected tangible and intangible benefits in the benefits management plan for each phase, the business can increase the value of the project by demonstrating how the project contributes to the strategic objectives, customer satisfaction, and competitive advantage of the organization. Quantifying the benefits also helps to monitor and evaluate the performance of the project and the benefits realization process, and to identify and address any gaps or issues that may arise. Quantifying the benefits can also facilitate the communication and reporting of the value of the project to the stakeholders and the senior management. References: (Professional in Business Analysis Reference Materials source and documents) * PMBOK Guide, 6th edition, Section 4.5.3.1, p. 123 * PMI Professional in Business Analysis (PMI-PBA) Examination Content Outline, Domain IV: Traceability and Monitoring, Task 2, p. 13 * Business Analysis for Practitioners: A Practice Guide, Section 5.3.1, p. 113
PMP Exam Question 64
An agile leader is working on a complex project that is entering the final phase where solutions from different vendors are being integrated. This is the most critical delivery stage for the project How should the agile leader ensure successful delivery?
Correct Answer: A
An agile leader should ensure participation from all team members in the final phase of a complex project, as this will help to foster collaboration, communication, feedback, and alignment among the project stakeholders. Participation from all team members will also help to identify and resolve any integration issues, risks, or dependencies that may arise during the delivery stage. Participation from all team members will also promote a sense of ownership, accountability, and commitment to the project outcomes. Asking the client to attend all daily calls may not be feasible or necessary, as the client may have other priorities or constraints. Ensuring cross-departmental teams are colocated may not be possible or beneficial, as the project may involve remote or distributed teams, or different organizational cultures. Requesting additional project resources may not be the best option, as it may introduce new challenges such as coordination, training, or integration costs. References: PMBOK Guide, 7th edition, pages 99, 100, 101, 102.
PMP Exam Question 65
During the execution of a maintenance project the contractor submits an offer for additional work The project manager realizes that the activities billed are included in the initial scope of work. What should the project manager do next in this situation?
Correct Answer: B
According to the PMBOK Guide, the project scope is the work that needs to be accomplished to deliver a product, service, or result with the specified features and functions1. The project scope statement defines the project scope and documents the project deliverables, acceptance criteria, assumptions, and constraints2. The project manager is responsible for ensuring that the project scope is managed and controlled throughout the project life cycle3. If the contractor submits an offer for additional work that is already included in the initial project scope, the project manager should refuse the offer as it is not a valid change request and does not add any value to the project. The project manager should also communicate with the contractor to clarify the project scope and avoid any misunderstandings or conflicts. References: * 1: PMBOK Guide, 6th edition, p. 154 * 2: PMBOK Guide, 6th edition, p. 157 * 3: PMBOK Guide, 6th edition, p. 171
