2023 QUESTION 1 The five process groups represent the general flow of a project | Assignments Online

QUESTION 1  The five process groups represent the general flow of a project. However the five processes can be used for?    Guiding each phase of the project    Managing the concerns of clients    Monitoring project costs    Ascertain the status of a project QUESTION 2  A project has to be planned, funded and authorized. When is a project officially authorized?    When a Project Manager and team have been assigned    When the project charter has been signed    When budget is complete    After the first project charter meeting QUESTION 3  The WBS is created in the planning process group. WBS breaks scope down into workable packages that can easily be estimated and completed. All of the following are needed to create the WBS except?    Scope documents    Project requirements    Organizational process assets    PMI Glossary QUESTION 4  Risk management helps minimize project uncertainty. A risk register is?    Central repository of project risks including risk attributes    Similar to a risk matrix    The first step in a risk management plan    Document system that logs and monitors all identified risks QUESTION 5  Scope includes project requirements. Scope baseline utilizes three documents including all of the following except?    Scope statement    WBS    WBS dictionary    Project charter QUESTION 6  SOW defines all the products and services that the project effort will provide. The SOW should include business need, scope description, and what else?    Strategic plan    Environmental constraints    Assets    Scoring models QUESTION 7  Selecting which projects to bid on and work requires an organization to compare projects using a common set of criteria and values. A model that allows for comparison and evaluation of a number of projects is called?    Matrix model    Scoring model    Deliverable model    Scatter diagram QUESTION 8  When looking across many projects to select one, several calculations should be utilized including NPV, payback period, and?     Internal rate of return    Planned value    Earned value    Schedule performance variance QUESTION 9  As the project plan is executed, monitoring and controlling of project are on-going. Information collected as part of monitoring and controlling include?     Collecting project statistics    Current bond prices    Calculating cost benefit ratios    Calculating scoring model factors QUESTION 10  The subsidiary plan defines the risk responses that are to be used in the project for both positive and negative risks is called the?    Risk register    Risk response plan    Risk management plan    Risk matrix