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Q:

The price that you charge for your project is

A) equal to the cost estimate plus a fixed percentage. B) essentially the same as the cost estimate.
C) typically 1.5 - 2.5 times the cost estimate in order to account for corporate overhead costs D) a business decision that considers the cost estimate together with other factors.
 
Answer & Explanation Answer: D) a business decision that considers the cost estimate together with other factors.

Explanation:

Overhead costs should be figured into the cost estimate. Desired profit considered together with other factors such as market demand, availability of resources, prior experience are then used to determine the optimal price.

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Q:

The organizational form in which the project manager has informal authority over team members and little or no input to team member’s performance appraisal is called

A) weak matrix. B) functional.
C) strong matrix. D) composite.
 
Answer & Explanation Answer: A) weak matrix.

Explanation:

“Weak matrices maintain many of the characteristics of a functional organization, and the project manager role is more that of a coordinator or expediter than that of a true project manager.”

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Q:

In the Determine Budget processes the project schedule

A) is not one of the inputs to these processes. B) is used to allocate the project budget to the various project activities.
C) is used to assign costs to the time period when the costs will be incurred D) is used to determine the size of the contingency component of the budget after all scheduled costs are accounted for.
 
Answer & Explanation Answer: C) is used to assign costs to the time period when the costs will be incurred

Explanation:

“This [project schedule] information can be used to aggregate costs to the calendar periods when the costs are planned to be incurred.” PMBOK [7.2.1.4]

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Q:

Ramesh started a software business by investing Rs. 50,000. After six months, Rajesh joined him with a capital of Rs. 75,000. After 3 years, they earned a profit of Rs. 27,000. What was Rajesh's share in the profit?

A) 10,000 B) 15,000
C) 20,000 D) 25,000
 
Answer & Explanation Answer: B) 15,000

Explanation:


Ramesh : Rajesh =(50,000*36) : (75,000*30) =4 : 5.

Therefore, Rajesh's share=Rs.(27,000*5/9)= Rs.15,000.

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Filed Under: Percentage

Q:

Communication requirements are defined by

A) the adaptation of the theory of sender-receiver models to the dominant listening and learning style of each stakeholder. B) the logistics of how many individuals will be involved with the project and at which locations.
C) the technologies or methods available to transfer information back and forth among project stakeholders. D) combining the type and format of information required with an analysis of the value of that information.
 
Answer & Explanation Answer: D) combining the type and format of information required with an analysis of the value of that information.

Explanation:

“ Communication requirements are defined by combining the type and format of information needed with an analysis of the value of that information.”

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Q:

Report Performance is a member of which process group?

A) Controlling B) Planning
C) Executing D) Closing
 
Answer & Explanation Answer: A) Controlling

Explanation:

The processes in the controlling group are Verify Scope, Control Scope, Control Schedule, Control Costs, Perform Quality Control, Report Performance, Monitor and Control Risks, and Administer Procurements.

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Q:

Which of the following is not true about bottom-up estimating?

A) The WBS must be accurate and complete before this process can be used. B) Since the cost is largely independent of the desired accuracy it is the methodology of choice.
C) Its accuracy increases if the activities are smaller. D) It is not a useful methodology in the early project planning phase.
 
Answer & Explanation Answer: B) Since the cost is largely independent of the desired accuracy it is the methodology of choice.

Explanation:

“The cost and accuracy of bottom-up cost estimating is typically influenced by the size and complexity of the individual activity or work package.” PMBOK [7.1.2.4]

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Q:

George is very open with his team members. He invites questions and discussion, and encourages new suggestions and ideas. He considers all this carefully before making any but the most minor project decisions, but ultimately chooses the course he personally believes is the right one. His leadership style is best characterized as

A) Democratic B) Consultative
C) Participative D) Benevolent
 
Answer & Explanation Answer: C) Participative

Explanation:

The Participative leadership style is characterized by 1) allowing a great deal of freedom in identifying problems and solutions, 2) working closely with subordinates, 3) allows extensive participation, but 4) reserving to him/herself the final decision. The consultative style is not so open, with discussion more focused around the leader’s uncertainties than asking for new ideas.

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Filed Under: PMP Certification