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Q:

You are working on a new project to develop a new wireless product with ease - of - use features recommended by customers. It is as yet undetermined which features and the extent to which each feature will be incorporated into the product.You have a focus group that will continue to evaluate the features as the project goes forward.The focus group is authorized to suggest changes, as are your engineers and the quality department.As a project manager, what will help you most to minimize the effect of these changes?

A) A change management plan B) A scope management plan
C) Do not continue with the project until all of the features are clearly defined in the scope statement and scope definition. D) This is an expected part of every project. A good project manager will have a communications plan in place to be sure everyone knows what is happening on the project.
 
Answer & Explanation Answer: B) A scope management plan

Explanation:

Answer A is tempting because the problem focuses on changes. However, because we are talking about the elaboration of the product's characteristics, we are talking about scope changes, and therefore Answer B is the best answer. Answer C is also tempting because it is difficult to more forward on a project until the scope is clearly defined (especially in systems development projects), but with products and certain types of web development, scope changes can be frequent, and a formal scope management plan is needed. Answer D is true from a project perspective, but does not addres the scope issues.

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Filed Under: PMP Certification

Q:

A Good CFO will tell you that it is important to look at your bottom line and determine how to increase profits for the organization. Veronica, the new CFO at a local university, is taking that approach and applying it to new projects. Therefore,she wants to include costs from each phase of the project on a total expenditure is known as 

A) An opportunity cost B) A sunk cost
C) NPV D) A life cycle
 
Answer & Explanation Answer: D) A life cycle

Explanation:

Life Cycle costing includes the costs from each phase of the project life cycle when the total investment costs are calculated. Answer A is incorrect because an opportunity cost is the difference between a chosen investment and the one that is passed up. Answer B is incorrect because sunk costs are costs that have been incurred and cannot be reversed. Answer C is incorrect because net present value (NPV) is the present value of cash inflows(benifits) minus the present value of cash outflows (costs).

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Filed Under: PMP Certification

Q:

One of the goals of management by objectives (MBO) is to ensure that objectives of one level within an organization are supportive of and aligned with the objectives of another level of the organization. This methodology has been popular within some organizations as they define their culture. Which of the following is not true about MBO?

A) It has a top-down orientation B) Corrective actions are not part of the process
C) You need to establish clear and achievable objectives D) MBO is a natural fit for Project Management
 
Answer & Explanation Answer: B) Corrective actions are not part of the process

Explanation:

Corrective actions are part of the process after establishing objectives and checking on the objectives. The next step is to take corrective actions. Answers A, C, D are true statements and therfore are incorrect for this question.

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Filed Under: PMP Certification

Q:

You have started your own company based upon PMI methodologies and have been contracted by the government to develope a new interface for one of its computer applications. You develope a solution and win the bid for the contract but encounter problems at the end of the project when the customer says that you did not fullfill their needs. You are throughly shocked. What is your conclusion of the situation?

A) There are always more customers available B) If the customer is not satisfied, the project is not successful
C) Change control management was not effective D) The customer did not communicate very well
 
Answer & Explanation Answer: B) If the customer is not satisfied, the project is not successful

Explanation:

Answer A is incorrect because without satisfied customers, we do not have potential for new projects. Answer C is incorrect because the change control management process would have likely resolved this problem. Answer D is incorrect because it is the project manager's responsibility to seek communication with the customer to set realistic expectations.

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Filed Under: PMP Certification

Q:

Management by projects views aspects of ongoing operations as projects in order to apply Project Management techniques to them. This can be used to describe an oranizational approach to the management of ongoing operations. Why would a company want to utilize this methodology on nonprojects?

A) To keep project managers employed B) To provide better estimates about durations
C) To allow the utilization of PM tools, such as earned value, to calculate ROI D) To specify the different phases within the operations
 
Answer & Explanation Answer: C) To allow the utilization of PM tools, such as earned value, to calculate ROI

Explanation:

Answer A is incorrect because project managers are not effectively utilized if they are always scheduling and coordinating resources for daily operations. Answer B is incorrect because project managers are not the best resource for providing estimates on daily operations and time allocations;people doing the actual work are the best resources. Answer D is incorrect because you do not specify different phases of ongoing operations.

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Filed Under: PMP Certification

Q:

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Answer

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Q:

The former Chief Justice of India who has been appointed as Governor of Kerala is

A) K.G.Balakrishnan B) P.Sathasivam
C) R.M.Lodha D) Suchitra Sen
 
Answer & Explanation Answer: A) K.G.Balakrishnan

Explanation:
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Filed Under: Famous Personalities

Q:

The Minimum Alternative Tax (MAT) was introduced in the Budget of the Government of India for the year

A) 1991-92 B) 1992-93
C) 1995-96 D) 1996-97
 
Answer & Explanation Answer: D) 1996-97

Explanation:
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Filed Under: Indian Economy