Free PMI-SP Exam Dumps

Which of the following documents is a narrative description of products or services to be supplied by the project and has detailed requirements and pricing specified on it?

Correct Answer:C
A statement of work (SOW) is a document that captures and defines the work activities, deliverables and timeline that a vendor will execute against in performance of work for a customer. Detailed requirements and pricing are usually specified in it, along with many other terms and conditions. SOW is a narrative description of products or services to be supplied by the project. For internal projects, the project initiator or sponsor provides the statement of work based on business needs, product, or service requirements. For external projects, the statement of work can be received from the customer as part of a bid document.
Answer option A is incorrect. Scope of statement gives the narrative description of the project scope.
Answer option B is incorrect. Project charter is a document that formally authorizes a project manager to work on a project.
Answer option D is incorrect. WBS is a tool that defines a project and groups the project discrete work in a way that helps organize and define the total work scope.

You are the project manager for your organization. You are working with your project team to develop the project schedule. You would like to automate much of the scheduling by using Microsoft project. Microsoft project as a scheduling tool is an example of what tool and technique for the Develop Schedule Process?

Correct Answer:B
According to the PMBOK, automated scheduling tools expedite the scheduling process. The scheduling tool is used in combination with manual methods or further project management software to carry out the schedule network analysis to produce an updated project schedule.
Answer option C is incorrect. The project management information system is the complete project management software package beyond just the scheduling portion.
Answer option D is incorrect. This is not a valid answer.
Answer option A is incorrect. While the software may be made available as a part of organizational process assets, the best answer is the scheduling tool.

You are the project manager for your organization. Management has offered you a bonus if you can complete the project work two months earlier than what your schedule predicts. You can use a schedule compression technique, but management does not want to increase costs in the project. What approach would you recommend to condense the project duration?

Correct Answer:A
Of all the choices, only fast tracking is an option that would not increase project costs. Fast tracking allows phases of the project to overlap, but it does increase project risks. Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope.
Answer option B is incorrect. Crashing adds labor to the project and increases project costs.
Answer option C is incorrect. Effort-driven activity analysis examines activities whose duration may be reduced by adding labor. This approach, however, increases project costs, as it is a form of project crashing.
Answer option D is incorrect. Rewards and recognitions are good incentives for the project team, but simply offering the reward does not decrease the duration of the project.

Wendy is the project manager for the NHQ project. She is working with her project to begin creating the project duration estimate. Her organization is in weak matrix and several of the project team members are scheduled to complete work on other projects. What input will most likely be of the biggest assistance as Wendy and the project team begin creating the duration estimate for this project?

Correct Answer:D
The resource calendar is needed because it will help Wendy and the project team to determine when the project team resources will be available. The availability of the project resources can affect the overall duration of the project. A resource calendar is used to make sure that work resources (people and equipment) are scheduled only when they are available for work. They affect a specific resource or category of resources. By default, the working time settings in the resource calendar are the same as in the project calendar.
However, a user can customize the resource calendar to show individual schedule information, such as vacations, leaves of absence, or equipment maintenance time. Answer option B is incorrect. The project scope statement is an input to the estimate activity duration estimate, but it is not the best choice for this question.
Answer option C is incorrect. The project communications management plan is not an input to the estimate activity duration process.
Answer option A is incorrect. The project charter is not an input to the estimate activity duration process.

You are the project manager for your organization. Your project is doing fine on time and cost, but management wants to address the project performance for future accomplishment. Management has asked you to begin reporting and forecasting your project's health based on a moving average, extrapolation, trend estimation, and growth curve. What type of forecasting method is management asking you to use?

Correct Answer:C
These are examples of a time series method for forecasting project performance. Another method that fits with the time series method of forecasting is earned value management. Forecasting is the process of estimating or predicting in unknown situations. Forecasting is about predicting the future as accurately as possible with the help of all the information available, including historical data and knowledge of any future events that might impact forecasts. The forecasting methods are categorized as follows: Time series method: It uses historical data as the basis for estimating future outcomes. Causal/econometric method: This forecasting method is based on the assumption that it is possible to identify some factors that might influence the variable that is being forecasted. If the causes are understood, projections of the influencing variables can be made and used in the forecast. Judgmental method: Judgmental forecasting methods incorporate intuitive judgments, opinions, and subjective probability estimates. Other methods: Other methods may include probabilistic forecasting, simulation, and ensemble forecasting.
Answer option B is incorrect. Causal/econometric methods do not use the moving average, but models such as linear regression and non- linear regression.
Answer option A is incorrect. Judgmental methods for forecasting are based on intuition, opinions, and probability estimates.
Answer option D is incorrect. The estimate at completion method is an earned value management formula, which is part of the time series method for reporting and forecasting performance.