If you established a contingency reserve including time, money, and resources, how are you handling risk?
Correct Answer: A
Section: Volume E Explanation
Question 92
The following is a network diagram for a project. The free float for Activity H is how many days?
Correct Answer: C
Question 93
Which is used to solicit proposals from prospective sellers?
Correct Answer: C
Section: Volume D Explanation: 12.1.3.3 Procurement Documents Procurement documents are used to solicit proposals from prospective sellers. Terms such as bid, tender, or quotation are generally used when the seller selection decision will be based on price (as when buying commercial or standard items), while a term such as proposal is generally used when other considerations, such as technical capability or technical approach are paramount. Common terms are in use for different types of procurement documents and may include request for information (RFI), invitation for bid (IFB), request for proposal (RFP), request for quotation (RFQ), tender notice, invitation for negotiation, and invitation for seller's initial response. Specific procurement terminology used may vary by industry and location of the procurement. The buyer structures procurement documents to facilitate an accurate and complete response from each prospective seller and to facilitate easy evaluation of the responses. These documents include a description of the desired form of the response, the relevant procurement statement of work (SOW) and any required contractual provisions. With government contracting, some or all of the content and structure of procurement documents may be defined by regulation. The complexity and level of detail of the procurement documents should be consistent with the value of, and risks associated with, the planned procurement. Procurement documents are required to be sufficient to ensure consistent, appropriate responses, but flexible enough to allow consideration of any seller suggestions for better ways to satisfy the same requirements. Issuing a procurement request to potential sellers to submit a proposal or bid is normally done in accordance with the policies of the buyer's organization, which can include publication of the request in public newspapers, in trade journals, in public registries, or on the internet.
Question 94
Which items are an output of the Perform Integrated Change Control process?
Correct Answer: C
Section: Volume B Explanation: Process: 4.5 Perform Integrated Change Control Perform Integrated Change Control is the process of reviewing all change requests; approving changes and managing changes to deliverables, organizational process assets, project documents, and the project management plan; and communicating their disposition. It reviews all requests for changes or modifications to project documents, deliverables, baselines, or the project management plan and approves or rejects the changes. Key Benefit: The key benefit of this process is that it allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans. Inputs 1. Project management plan 2. Work performance reports 3. Change requests 4. Enterprise environmental factors 5. Organizational process assets Tools & Techniques 1. Expert judgment 2. Meetings 3. Change control tools Outputs 1. Approved change requests 2. Change log 3. Project management plan updates 4. Project documents updates
Question 95
Which document includes the project scope, major deliverables, assumptions, and constraints?
Correct Answer: B
Explanation/Reference: Explanation: The project team must complete a scope statement for developing a common understanding of the project scope among stakeholders. This lists project deliverables - summary level sub-products, whose full and satisfactory delivery marks the completion of the project.
