PROJECT MANAGEMENT MODULE (IFMA FMP) EXAM
LATEST 2024 ACTUAL EXAM 2 VERSIONS ( VERSION A
AND B) 500 QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |
ALREADY GRADED A+
Characteristics of a project - ANSWER: 1. It is unique
2. It has a specific goal
3. It has a beginning and an end
What are some crucial questions you will ask and answer as a project manager? -
ANSWER: 1. How are we going to solve this problem?
2. What is the problem we are solving?
3. What is our plan?
Traditional Project Management Approach - ANSWER: Usually includes the waterfall
effect. Concentrated on
-well defined goals
-clear scope and deliverables
- thorough, upfront planning
of the entire project.
- requires a high degree of predictability to be effective.
Does organizational culture affect project success? - ANSWER: Yes/True
Scope Management - ANSWER: the act of defining what the team needs to do to
complete a project : no more, no less
In all projects, should your cost estimate should define the budget? - ANSWER: No.
Because it is an estimate and not a concrete cost.
Which of the following actions are part of your work in managing a project team? -
ANSWER: 1. Provide feedback
2. Track performance
3. Resolve Issues
What is procurement? - ANSWER: Purchasing or acquiring products or services that
are outside of your organization
What is the purpose of initiating a project? - ANSWER: To obtain commitment to
begin the project
What is one thing the customer does not do as a project stakeholder? - ANSWER:
Determine the deliverables and give them to the project manager
, What does a good problem statement include? - ANSWER: A clear and brief
definition of the opportunity or problem
What's a characteristic of a well-written project objective? - ANSWER: It's specific
and measurable
Which is an example of a smart way to build out requirements for a project that is
unfamiliar to your organization? - ANSWER: Make a prototype to show the user
What are deliverables? - ANSWER: Products or services a project delivers
What do you usually use to handle unknown risks? - ANSWER: Contingency funds
The scope statement describes the _____. - ANSWER: Boundaries of a project,
including what it will and won't do
Project Charter - ANSWER: A document that formally recognizes the existence of a
project and provides direction on the project's objectives, while giving the project
manager authority
Work Breakdown Structure - ANSWER: a statement of all work that has to be
completed, usually this helps document work into more manageable pieces that can
be tracked and managed
In projects, you must estimate ______. - ANSWER: time and cost
What are the four dependency times? - ANSWER: 1. Start to finish
2. Finish to finish
3. Start to start
4. Finish to start
Finish-to-start - ANSWER: Predecessor must finish before Successor can start. [Land
must be purchased before road building can start]
Start-to-start - ANSWER: Predecessor must start before Successor can start. [Road
excavating must start before Asphalt can be laid]
Finish-to-finish - ANSWER: Predecessor must finish before Successor can finish.
[Laying Asphalt must be complete before line painting can be completed]
Start-to-finish - ANSWER: Predecessor must start before Successor can finish. [Road
excavating must start before line painting can be completed]
What is the most common dependency type? - ANSWER: Finish-to-start?
Dependency - ANSWER: A link between tasks in a project
LATEST 2024 ACTUAL EXAM 2 VERSIONS ( VERSION A
AND B) 500 QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |
ALREADY GRADED A+
Characteristics of a project - ANSWER: 1. It is unique
2. It has a specific goal
3. It has a beginning and an end
What are some crucial questions you will ask and answer as a project manager? -
ANSWER: 1. How are we going to solve this problem?
2. What is the problem we are solving?
3. What is our plan?
Traditional Project Management Approach - ANSWER: Usually includes the waterfall
effect. Concentrated on
-well defined goals
-clear scope and deliverables
- thorough, upfront planning
of the entire project.
- requires a high degree of predictability to be effective.
Does organizational culture affect project success? - ANSWER: Yes/True
Scope Management - ANSWER: the act of defining what the team needs to do to
complete a project : no more, no less
In all projects, should your cost estimate should define the budget? - ANSWER: No.
Because it is an estimate and not a concrete cost.
Which of the following actions are part of your work in managing a project team? -
ANSWER: 1. Provide feedback
2. Track performance
3. Resolve Issues
What is procurement? - ANSWER: Purchasing or acquiring products or services that
are outside of your organization
What is the purpose of initiating a project? - ANSWER: To obtain commitment to
begin the project
What is one thing the customer does not do as a project stakeholder? - ANSWER:
Determine the deliverables and give them to the project manager
, What does a good problem statement include? - ANSWER: A clear and brief
definition of the opportunity or problem
What's a characteristic of a well-written project objective? - ANSWER: It's specific
and measurable
Which is an example of a smart way to build out requirements for a project that is
unfamiliar to your organization? - ANSWER: Make a prototype to show the user
What are deliverables? - ANSWER: Products or services a project delivers
What do you usually use to handle unknown risks? - ANSWER: Contingency funds
The scope statement describes the _____. - ANSWER: Boundaries of a project,
including what it will and won't do
Project Charter - ANSWER: A document that formally recognizes the existence of a
project and provides direction on the project's objectives, while giving the project
manager authority
Work Breakdown Structure - ANSWER: a statement of all work that has to be
completed, usually this helps document work into more manageable pieces that can
be tracked and managed
In projects, you must estimate ______. - ANSWER: time and cost
What are the four dependency times? - ANSWER: 1. Start to finish
2. Finish to finish
3. Start to start
4. Finish to start
Finish-to-start - ANSWER: Predecessor must finish before Successor can start. [Land
must be purchased before road building can start]
Start-to-start - ANSWER: Predecessor must start before Successor can start. [Road
excavating must start before Asphalt can be laid]
Finish-to-finish - ANSWER: Predecessor must finish before Successor can finish.
[Laying Asphalt must be complete before line painting can be completed]
Start-to-finish - ANSWER: Predecessor must start before Successor can finish. [Road
excavating must start before line painting can be completed]
What is the most common dependency type? - ANSWER: Finish-to-start?
Dependency - ANSWER: A link between tasks in a project
