PM@SIEMENS KNOWLEDGE TEST EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2025 – 2026
Risk Management Process - ANSWERS-1. Identify
2. Assess
3. Respond
4. Monitor
5. Report & Escalate
6. Analyze root cause
Claim - ANSWERS-*Controversial issues* regarding contract.
Can be Customer to Siemens, Siemens to Customer, Siemens
to subcontractor
How much of project costs are supplier related costs? -
ANSWERS-40-60%
,Enterprise Risk Management (ERM) - ANSWERS-Address
strategic, operational, financial and compliance R&O; must
not be in conflict with project-based risk.
Risks that can't be managed on the project level should be
addressed by this.
3 Advantages of a Master Agreement? - ANSWERS-1. lower
costs
2. increased loyalty
3. provides incentive to supplier to improve quality
Goal of Contract Management? - ANSWERS-Create sound
agreements, provide a strategy to manage CO/claims,
support legitimate claims against related parties, fend off
unjustified claims, manage changes to contract
SMART Targets - ANSWERS-Used for forming project goals.
Specific, Measurable, Achievable, Realistic, Time-bound
Project Manager (Target) Agreement - ANSWERS-Documents
mutually agreed upon (w/ Business Mgr.) results expected,
,plus responsibilities, authorizations, and resources available
to PM.
- Completed & Signed @ PM100, no later than PM200
- Valid until PM650
- Includes project description, financial/strategic/quality
targets, milestones, LL, responsibilities of PM, etc.
Letter of Empowerment - ANSWERS-Informs organization
(and stakeholders) of the responsibility & authority of the
person responsible for a project in the sales &/or execution
phase. Is proper communication, input is before handover
(PM080)
Contains:
- project designation & period of validity
- assignment of relevant authorities & obligations
- overview of responsibilities
- reference to the valid PM method in accordance w/
PM@Siemens
, Independent Project Organization - ANSWERS-Project leader
has entire responsibility for project & authority over team
members. Decisions can be made quickly.
Matrix Organization - ANSWERS-PM shares responsibility w/
functional managers for assigning priorities & directing the
work of individuals assigned. Individual remains assigned to
the functional manager, but works with the PM.
Who must be considered w/ every project adjustment? -
ANSWERS-Relevant stakeholders
Main aspects to consider for project strategy &
implementation? - ANSWERS-- Stringent across project
- Communicated w/ team, & stakeholders
- Alignment w/ business strategy
How can I ensure contribution of project team members to
the implementation of the business strategy for my project?
- ANSWERS-- Communicate tailored strategy to project team
- Use strategy as basis for identifying opportunities
- Use info from won/loss bids to improve strategy for future
bids
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2025 – 2026
Risk Management Process - ANSWERS-1. Identify
2. Assess
3. Respond
4. Monitor
5. Report & Escalate
6. Analyze root cause
Claim - ANSWERS-*Controversial issues* regarding contract.
Can be Customer to Siemens, Siemens to Customer, Siemens
to subcontractor
How much of project costs are supplier related costs? -
ANSWERS-40-60%
,Enterprise Risk Management (ERM) - ANSWERS-Address
strategic, operational, financial and compliance R&O; must
not be in conflict with project-based risk.
Risks that can't be managed on the project level should be
addressed by this.
3 Advantages of a Master Agreement? - ANSWERS-1. lower
costs
2. increased loyalty
3. provides incentive to supplier to improve quality
Goal of Contract Management? - ANSWERS-Create sound
agreements, provide a strategy to manage CO/claims,
support legitimate claims against related parties, fend off
unjustified claims, manage changes to contract
SMART Targets - ANSWERS-Used for forming project goals.
Specific, Measurable, Achievable, Realistic, Time-bound
Project Manager (Target) Agreement - ANSWERS-Documents
mutually agreed upon (w/ Business Mgr.) results expected,
,plus responsibilities, authorizations, and resources available
to PM.
- Completed & Signed @ PM100, no later than PM200
- Valid until PM650
- Includes project description, financial/strategic/quality
targets, milestones, LL, responsibilities of PM, etc.
Letter of Empowerment - ANSWERS-Informs organization
(and stakeholders) of the responsibility & authority of the
person responsible for a project in the sales &/or execution
phase. Is proper communication, input is before handover
(PM080)
Contains:
- project designation & period of validity
- assignment of relevant authorities & obligations
- overview of responsibilities
- reference to the valid PM method in accordance w/
PM@Siemens
, Independent Project Organization - ANSWERS-Project leader
has entire responsibility for project & authority over team
members. Decisions can be made quickly.
Matrix Organization - ANSWERS-PM shares responsibility w/
functional managers for assigning priorities & directing the
work of individuals assigned. Individual remains assigned to
the functional manager, but works with the PM.
Who must be considered w/ every project adjustment? -
ANSWERS-Relevant stakeholders
Main aspects to consider for project strategy &
implementation? - ANSWERS-- Stringent across project
- Communicated w/ team, & stakeholders
- Alignment w/ business strategy
How can I ensure contribution of project team members to
the implementation of the business strategy for my project?
- ANSWERS-- Communicate tailored strategy to project team
- Use strategy as basis for identifying opportunities
- Use info from won/loss bids to improve strategy for future
bids
