In a Lump-sum contract, the profit is:

• A.Provided by the buyer to the seller at end of project if defined performance criteria are met
• B.Determined by the buyer during contract sign-off
• C.Not known at time of the contract sign-off
• D.Determined by the seller during contract sign-off

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Updates to organizational process assets such as procurement files, deliverable acceptances, and lessons learned documentation are typical outputs of which process?

• A.Control Procurements
• B.Close Project or Phase
• C.Conduct Procurements
• D.Close Procurements

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An engineering is commissioning a new mine in a region with territorial disputes. If the mine is not commissioned or time, the project management company may incur enormous fines and reputational damage.
The project manage, completes a risk analysis and choose to purchase insurance to cover the fines if the project experiences delays.
What type at risk response did the project manager use?

• A.Mitigate
• B.Accept
• C.transfer
• D.Avoid

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You are a part of project software team responsible for developing a new CRM software application. The project has been ongoing for the past several months. A few members of the project team are currently discussing introducing a significant change to one of the major work packages. After discussions you received a message from the vice president of engineering informing you of the project changes, and are asked to complete the necessary paperwork in order to process the change. This is an example of:

• A.Management by objectives
• B.A project expediter role
• C.A configuration management system
• D.A change control system
• E.Managing stakeholder need

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During what process is the quality policy determined?

• A.Executing
• B.Initiating
• C.Controlling
• D.Planning

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