## Search found 71 matches

Wed Aug 23, 2017 12:06 pm
Forum: PMP® Open Forum
Topic: NPV Calculation
Replies: 2
Views: 81

### Re: NPV Calculation

Here is the formula... the administrators always advise that we attempt the question

PV= FV/(1+r)^n

PV= Present Value
FV= Future Value
r= discount rate
n= period
Wed Aug 23, 2017 11:29 am
Forum: PMP® Open Forum
Topic: PMP Practice Questions
Replies: 5
Views: 193

### Re: PMP Practice Questions

A production process has been defined as part of an industrial equipment manufacturing project. The process is intended to produce steel bolts with a length of 20 cm. The control limits are 19.955cm and 20.045cm. The measurements made at the end of the process yielded the following results: 20.033cm...
Tue Aug 22, 2017 1:00 pm
Forum: PMP® Open Forum
Topic: Communication Channels!
Replies: 1
Views: 64

### Re: Communication Channels!

Generally it is stated something like this...

How many communication channels is in the team.... then include project manager.
How many communication channels are there.... exclude the PM
Thu Aug 10, 2017 10:10 am
Forum: PMP® Open Forum
Topic: Scordo - Mock exam 5 question 14
Replies: 1
Views: 142

### Re: Scordo - Mock exam 5 question 14

Andy is currently working for ABC contractors as QC manager for a railway track construction project.National railways awarded this cost plus construction contract to ABC contractors a few months ago.As a contractual requirement,ABC has to submit each completed deliverable for client acceptance. Rev...
Tue Jul 25, 2017 12:24 pm
Forum: PMP® Open Forum
Topic: PMP APPLICATION 4500 HOURS
Replies: 2
Views: 171

### Re: PMP APPLICATION 4500 HOURS

Cheers
Varmu
Tue Jul 18, 2017 8:26 pm
Forum: PMP® Open Forum
Topic: PMP APPLICATION 4500 HOURS
Replies: 2
Views: 171

### PMP APPLICATION 4500 HOURS

Hi Folks, I would appreciate were I to get some help with the two questions below and more appreciate if one of the administrators could chime in also.... I am in the process of completing my PMP application. I was wondering do I have to list all my project management experience or all projects with...
Tue Jul 18, 2017 3:22 pm
Forum: PMP® Open Forum
Topic: Project Closure
Replies: 1
Views: 126

### Re: Project Closure

A or 1 is the right answer..... find per PMBOK

"closing Process Group. Those processes performed to finalize all activities across all Process Groups to formally close the project or phase." pg 39
Mon Jul 17, 2017 5:14 pm
Forum: PMP® Open Forum
Topic: Procurement Management Plan
Replies: 5
Views: 387

### Re: Procurement Management Plan

I will think the answer is B....2.The procurement management plan explains how multiples vendors should be managed

The Procurement Mgt Plan explains how procurement will be conducted (process of managing procurement relationships and contracts), controlled and closed.
Tue Jul 11, 2017 5:50 pm
Forum: PMP® Open Forum
Topic: PM Role in different phases of the project
Replies: 2
Views: 220

### Re: PM Role in different phases of the project

In the Executing phase of a project, a project manager should ideally be:
1 Coaching-----M&C
2 Directing---- Executing
3 Authoritarian------ This is a form of power
4 Supportive------M&C

I think the right answer is B
Sun Jul 09, 2017 5:25 pm
Forum: PMP® Open Forum
Topic: Ethical Question
Replies: 6
Views: 305

### Re: Ethical Question

So kindly correct me, are you saying that as project manager we can take on projects in any industry...under the code of ethic, responsibility, desired, it states, "We accept only those assignments that are consistent with our background, experience, skills, and qualifications." I am confu...
Sun Jul 09, 2017 5:17 pm
Forum: PMP® Open Forum
Topic: Scope
Replies: 3
Views: 186

### Re: Scope

thanks....I overlooked a key word...... reporting. Thanks for highlight
Sun Jul 09, 2017 9:18 am
Forum: PMP® Open Forum
Replies: 2
Views: 175

NPV and IRR are investment decision making calculations.... The question suggested that the project is in execution (CPI and SPI) is the clue on that. Since CPI is greater than 1 this means that the project is below budget and SPI is below 1 which means that the project is behind schedule. Since the...
Sun Jul 09, 2017 9:10 am
Forum: PMP® Open Forum
Topic: Ethical Question
Replies: 6
Views: 305

### Re: Ethical Question

On the former question, I totally disagree with the author on that question, it is saying that the PM should be unethical. The PM should do what is in the best interest of the project, if the experience is not there, should he endanger the project, his reputation and resources (including financial?)...
Sun Jul 09, 2017 9:04 am
Forum: PMP® Open Forum
Topic: Scope
Replies: 3
Views: 186

### Re: Scope

Let me try In construction project, PM is creating documents that will define the product or report status on product completion. These can also be referred to as: 1 Project documents 2 Project management plan 3 Scope baseline 4 Scope management plan The question is actually defining the scope state...
Fri Jul 07, 2017 1:44 pm
Forum: PMP® Open Forum
Topic: Ethical Question
Replies: 6
Views: 305

### Re: Ethical Question

The company you are working for has been awarded an engineering, procurement, and construction (EPC) contract to build a Gas plant. You have been assigned to manage this project, but your e xpertise as a project manager is in the field of information technology . In this context, what should you do?...
Fri Jul 07, 2017 12:23 pm
Forum: PMP® Open Forum
Topic: Control Schedule
Replies: 4
Views: 249

### Re: Control Schedule

I hope I can help here.... The best answer is 3, why, right? The questions seeks to answer the option that is not true. Option 3 suggests that the controlling process is proactive " Project manager takes the anticipated changes through the change control process." This function is actually...
Wed Jul 05, 2017 1:37 pm
Forum: PMP® Open Forum
Topic: Probability( Standard Deviation)
Replies: 1
Views: 140

### Re: Probability( Standard Deviation)

Well let me attempt this: Question: Project Manager Charted to deliver 5000 units that are 60 centimeters each. Upper Control Limit 63 cm while lower control limit 57 cm . Approximately what percentage will be above 61cm? The question is seeking to know the percentage that is above 61cm (that means ...
Tue Jul 04, 2017 12:20 pm
Forum: PMP® Open Forum
Topic: Quality
Replies: 6
Views: 306

### Re: Quality

Can question like this come the exam!!!!!
Fri Jun 30, 2017 2:34 pm
Forum: PMP® Mock Exams Open Questions
Topic: Communication Management
Replies: 1
Views: 286

### Re: Communication Management

In your project, as part of the Manage Communications process, you have created an information retrieval system, which helps team members and stakeholders to share information. What will you do next? 1 Create a communications management plan 2 Identify and document the approach to communicate effect...
Fri Jun 30, 2017 2:29 pm
Forum: PMP® Open Forum
Topic: Project Status
Replies: 2
Views: 227

### Re: Project Status

This is actually a good question.....I think C is the best answer too....the CPI below 1 indicates that there is a cost overrun (over budget), which could be cost by an increase in resource cost but in this case, could be cost by crashing (adding additional resource along the critical path. Cashing ...
Fri Jun 30, 2017 1:23 pm
Forum: PMP® Open Forum
Topic: Procurement problem
Replies: 5
Views: 335

### Re: Procurement problem

Read, reviewed and acknowledge we are speaking the same language
Thu Jun 29, 2017 5:18 pm
Forum: PMP® Mock Exams Open Questions
Topic: Avoiding Vs Mitigating Risk
Replies: 7
Views: 706

### Re: Avoiding Vs Mitigating Risk

Exactly, because I read through the problem without going through the thread and came up with mitigation as an answer....so both avoidance and mitigation are right
Thu Jun 29, 2017 5:16 pm
Forum: PMP® Open Forum
Topic: Procurement problem
Replies: 5
Views: 335

### Re: Procurement problem

The question asks for total profit made Target Cost, TC = \$130000 Actual Cost, AC = \$150000 Actual Free = AF Ceiling Price: \$175,000 SSR = Seller Sales Ratio =80/20 =.2 Based on data provided... this is what I got Actual cost is greater than targeted cost \$150-130= \$20; therefore the project cost mo...
Thu Jun 29, 2017 5:08 pm
Forum: PMP® Open Forum
Topic: Benefit Cost Ratio - Interpretation Question
Replies: 10
Views: 1025

### Re: Benefit Cost Ratio - Interpretation Question

Thanks much
Mon Jun 26, 2017 9:45 am
Forum: PMP® Open Forum
Topic: Benefit Cost Ratio - Interpretation Question
Replies: 10
Views: 1025

### Re: Benefit Cost Ratio - Interpretation Question

I am confused a bit....the question states that benefit cost ratio of 2.1. It does not say cost-benefit ratio. So, how can it be A. Option A suggest cost-benefit ratio.... Could you explain why option A is the best answer. In my opinion the question is severely flawed in its options.
Mon Jun 26, 2017 9:35 am
Forum: PMP® Open Forum
Topic: Probability and Impact
Replies: 2
Views: 183

### Re: Probability and Impact

The question says, "25% probability for a particular event to occur every year", this means that year 1= 25% same with year two and three

So the answer is C= 25%
Mon May 08, 2017 6:12 pm
Forum: PMP® Open Forum
Topic: PMBOK DIAGRAM 5-10 AND 5-14 KINDLY EXPLAIN
Replies: 2
Views: 393

### Re: PMBOK DIAGRAM 5-10 AND 5-14 KINDLY EXPLAIN

Folks nevermind, I found my answer....an input to Validate Scope is the Project Mgt (the scope baseline a subsidiary plan to the Project Mgt Plan
Mon May 08, 2017 2:19 am
Forum: PMP® Open Forum
Topic: PMBOK DIAGRAM 5-10 AND 5-14 KINDLY EXPLAIN
Replies: 2
Views: 393

### PMBOK DIAGRAM 5-10 AND 5-14 KINDLY EXPLAIN

So, I have the jitteries about the PMP exam so I am reading the PMBOK again and listening to Rita abridged audio CD. Also, I noticed that I seem not to be able to break this 83% average scores and my goal is to make at least constantly 85% in practice tests. However, the 2nd time reading the PMBOK s...
Wed May 03, 2017 3:59 pm
Forum: PMP® Open Forum
Topic: Rita - Risk Quality Question
Replies: 2
Views: 353

### Re: Rita - Risk Quality Question

the Answer is C, the question suggest that you are finding it difficult to technical quantify the cost impact of risk. Answer is used to provide dollar amount of the risk, which is exactly what the question says is difficult. Therefore you would need to use a more subjective measurement, which is C....
Mon May 01, 2017 1:35 pm
Forum: PMP® Mock Exams Open Questions
Topic: cost of quality questions
Replies: 4
Views: 734

### Re: cost of quality questions

Let me attempt: Following is a question i came across in another forum. people saying answer as 'c' but not too convinced . Can someone pls explain . thanks . The way i see it ..'.do' of pdca falls in execution process and as per the Fig 8.2 of pmbok ...it says inspection ...whereas failure costs sh...
Thu Apr 27, 2017 6:52 pm
Forum: PMP® Open Forum
Topic: Earned Value Topic
Replies: 10
Views: 881

### Re: Earned Value Topic

I think I want to change it

Finished====EV= \$100,000
BAC at completion=PV= \$95,000

Schedule variance is the right answer....

Thanks for pointing things out....we need to be careful a word changes the answer
Thu Apr 27, 2017 6:38 pm
Forum: PMP® Mock Exams Open Questions
Topic: Rita - Quality Question
Replies: 3
Views: 681

### Re: Rita - Quality Question

I think if a problem persist then there is something wrong in the planning process...while you want to fix the problem right away, you want to first investigate the cause of the problem (which is C). Cost is expected to increase because there is the cost of rework (nonconformity) which is higher dur...
Thu Apr 27, 2017 6:32 pm
Forum: PMP® Mock Exams Open Questions
Topic: Rita - Quality Question
Replies: 3
Views: 681

### Re: Rita - Quality Question

Yep B is the right answer.... The project states that a budget was done (Cost Mgt--Dev Budget), and requirements collected (Scope, Collect Requirement) and WBS done Scope Mgt, Create WBS). After the budget is done the next knowledge area is Quality Mgt... The best way to answer these question is to ...
Wed Apr 26, 2017 6:39 pm
Forum: PMP® Open Forum
Topic: What activity will be involved to obtain management reserve?
Replies: 23
Views: 3597

### Re: What activity will be involved to obtain management reserve?

This might help with the workaround confusion

https://pmstudycircle.com/2015/03/workaround/
Tue Apr 25, 2017 8:47 pm
Forum: PMP® Open Forum
Topic: Earned Value Topic
Replies: 10
Views: 881

### Re: Earned Value Topic

1. A Project with a total funding of 100,000 finished with a BAC value of 95,000.What term can be best described the difference of 5000. a. cost variance b. Management overheads c.Management Contingency reserve d.Schedule Variance. ETC= EAC-AC ETC= 100-95= 5K First, ETC is a forecast not the typical...
Tue Apr 25, 2017 2:43 pm
Forum: PMP® Mock Exams Open Questions
Topic: Avoiding Vs Mitigating Risk
Replies: 7
Views: 706

### Re: Avoiding Vs Mitigating Risk

Let me attempt and hope it helps You are adding 2 resources to your project so that you can complete project on schedule. This is called 1.Resource Leveling 2. Avoiding Risk 3.Mitigating Risk 4.Critical Chain Method. Can some one pls help pick the correct answer with explanation? Thanks. I think we ...
Mon Apr 24, 2017 3:14 pm
Forum: PMP® Open Forum
Topic: Confidence Level
Replies: 4
Views: 602

### Re: Confidence Level

formula
Confidence Interval= Project Mean +/- 1SD will give you a range at 68% confidence
Project Mean +/- 2SD will give you a range at 95.5% confidence
Project Mean +/- 3SD will give you a range at 99.97% confidence
Fri Apr 21, 2017 6:36 pm
Forum: PMP® Open Forum
Topic: Scardo Mock Exam 7, Q #1
Replies: 1
Views: 310

### Scardo Mock Exam 7, Q #1

You company has just completed an unexpected round of layoffs. Morale is low, and resources are tighter than ever. Your project is now behind schedule because of the loss of resources. Overtime work will be required of everyone for the next several weeks in order to close the gap. One of the critica...
Fri Apr 21, 2017 3:29 pm
Forum: PMP® Open Forum
Topic: Why Schedule compression do next?
Replies: 3
Views: 517

### Re: Why Schedule compression do next?

To answer this question one needs to know the 47 processes for time knowledge area they are...the question is speaking to the planning process group, compression is a tool and technique done during the executing and M&C process Plan Schedule Management---Planning Defined Activities---Planning Se...
Fri Apr 21, 2017 3:18 pm
Forum: PMP® Open Forum
Topic: Scope Management
Replies: 3
Views: 621

### Re: Scope Management

As a project manager you realize that you need to decrease the cost of the project which you are managing. After hours of brainstorming, you come up with the following choices. Which of the following option can help you to decrease cost of the project? 1. Change activity A to be done by resource X i...
Thu Apr 13, 2017 12:22 pm
Forum: PMP® Open Forum
Topic: Risk Question
Replies: 1
Views: 266

### Re: Risk Question

The answer would be B The question provides information as follows SPI= 1.1 AC= 1,200,000 or 1.2 PV= 1,300,000 or 1.3 and then it ask that we find CPI and CV First we need to find EV, which can be derived from the using the formula for SPI and solve for EV (since all other components are provided) S...
Sun Apr 09, 2017 3:19 pm
Forum: PMP® Open Forum
Topic: EAC (Scordo) Mock Exam 5, Q 27
Replies: 3
Views: 464

### EAC (Scordo) Mock Exam 5, Q 27

Kindly help me understand this question: Your VP has asked you what the estimate at completion is going to be be for a small project you are working on. You were given a budget \$30K and to date, you have spent \$20K but only completed \$10K worth of work. You are sure that the future work will be acco...
Tue Apr 04, 2017 5:34 pm
Forum: PMP® Mock Exams Open Questions
Topic: Gold Plating / Change request
Replies: 3
Views: 596

### Re: Gold Plating / Change request

Mon Apr 03, 2017 6:22 pm
Forum: PMP® Open Forum
Topic: Project Charter - It is a contract or not
Replies: 2
Views: 341

### Re: Project Charter - It is a contract or not

A contract has certain characteristics the distinguish it from a charter A contract has an offer and acceptance There must be something for value consideration Parties should be legally competent to enter same and the contract product or service must be something legal While a charter does not have ...
Sun Apr 02, 2017 9:10 pm
Forum: PMP® Open Forum
Topic: Project Management Framework
Replies: 2
Views: 300

### Re: Project Management Framework

2.It is still part of planning process or activity although done within execution process Note that risk planning and analysis are done throughout the project (as in this case, planning and execution). As the project is executed, risks are monitored and new risk analysis are done. Why, well some ris...
Fri Mar 24, 2017 12:46 am
Forum: PMP® Open Forum
Topic: Project Scope statement
Replies: 2
Views: 344

### Re: Project Scope statement

Q. You are managing a six-month project and have held bi-weekly meetings with your project stakeholder. After five and half month of work, the project is on schedule and budget, but the stakeholder are not satisfied with the deliverables . This situation will delay the project completion by one mont...
Wed Mar 22, 2017 11:26 pm
Forum: PMP® Open Forum
Topic: Quality Control
Replies: 3
Views: 448

### Re: Quality Control

[i][i]If I am correct, Quality Control Process Inspects the Final Product, while Quality Assurance is Process driven. One of the Outputs of Close Project Phase is Final Product Hence why Quality Control is falling under Monitoring and Control and not in Closing Process Group?. If Final Product is n...
Wed Mar 22, 2017 11:12 pm
Forum: PMP® Open Forum
Topic: Source Scordo- Prevention V/s Correction
Replies: 3
Views: 392

### Re: Source Scordo- Prevention V/s Correction

I think the key word in this question, "to bring"---that is a signal that it is corrective....could be wrong and stand to be corrected....
Wed Mar 22, 2017 11:07 pm
Forum: PMP® Open Forum
Topic: Why do we need Quality Management Plan
Replies: 3
Views: 419

### Re: Why do we need Quality Management Plan

I think to best answer this question is to know the difference of the plan and the document... Requirement Traceability Matrix (within the Scope Mgt Process Group) is within the planning process group like is the Quality Mgt Plan. However, the identifies each requirement submitted by stakeholder be ...
Wed Mar 22, 2017 10:44 pm
Forum: PMP® Open Forum
Topic: can anybody explain this answer and how to arrive at it.Thanks. Vinod
Replies: 3
Views: 395

### Re: can anybody explain this answer and how to arrive at it.Thanks. Vinod

Do these kinds of questions still appear on the PMP exam...bc they are quite tricky. Are they particular clues that one should look for in solving this. When I commenced solving this problem, I basically approached it as a regular SD (30 days less weekends, which gave me 22 and divided that by 6; wh...