APM PMQ EXAM QUESTIONS WITH CORRECT ANSWERS

APM PMQ EXAM QUESTIONS WITH CORRECT ANSWERS




1) What are 3 types of investment appraisal? -- Answer ✔✔ Net present value (NPV)
Payback
Internal Rate of Return (IRR)

2) What are the steps of the stakeholder management process? -- Answer ✔✔ Identify
Assess
Develop
Engage

3) What does Earned Value Management tell you? -- Answer ✔✔ - Schedule
- Efficiency
- Time to completion
- Spend
- Cost to completion
- Actual forecast cost
- Variance at completion

4) What are the benefits of using Earned Value Management? -- Answer ✔✔ -
Reporting
- Estimating errors
- Forecasting
- Justify corrective action
- Justify early termination

5) What are 3 types of estimating tool? -- Answer ✔✔ - Comparative
- Bottoms Up
- Parametric

, 6) What is Comparative estimating? -- Answer ✔✔ Uses historical data to provide
current estimations

7) What is Bottoms up estimating? -- Answer ✔✔ Detailed estimate produced for each
work package and then rolled-up throughout the WBS

8) What is parametric estimating? -- Answer ✔✔ Uses statistical modelling software to
produce overall estimates for time and cost

9) What are problems with estimating? -- Answer ✔✔ - Optimisim/Pessimism
- Social/Political Pressure
- Experience
- Unclear Scope
- Source data

10) What does the PMP contain? -- Answer ✔✔ - Background and objectives
- Scope
- Deliverables
- Acceptance Criteria
- Success Criteria
- Project Constraints
- Risks and Assumptions
- Critical Success Factors
- Schedule/time and resource/cost baselines

11) What is the document management process? -- Answer ✔✔ - Creation
- Review
- Approval
- Release
- Update

12) What are the steps in the benefits management process? -- Answer ✔✔ - Define BM
Plan
- Identify and Structure Benefits
- Plan benefits realisation
- Implement the change