Supporting details for activity cost estimates should include all of the following EXCEPT:
Correct Answer: D
Question 512
While many different techniques can be used to rate or score proposals, all will use______________
Correct Answer: C
Explanation/Reference: Explanation: Expert judgment is a tool and technique used in the conduct procurements process. It, along with some form of proposal evaluation techniques as developed during the plan procurements process and noted as source selection criteria, is used to rate and score proposals. This does not preclude the use of other tools and techniques, but these tools and techniques are used in all evaluations.
Question 513
A project manager is launching an agile project with team members located in multiple countries. In order to connect the team and improve the overall productivity, what should the project manager do?
Correct Answer: C
Question 514
In analyzing a project for monthly status reporting, the project manager notices that the schedule performance index (SPI) is 0.75 and the cost performance index (CPI) is 1.25. The project manager must provide the first project status review soon and wants to emphasize that the project is under control. How should the project manager report the project status to key stakeholders?
Correct Answer: B
Explanation The schedule performance index (SPI) and the cost performance index (CPI) are earned value management (EVM) measures for project schedule and cost efficiency respectively. SPI and CPI are used to assess the magnitude (or amount) of variation from the established schedule and cost baselines1. The SPI is calculated by dividing the earned value (EV) by the planned value (PV). The CPI is calculated by dividing the EV by the actual cost (AC). Both indexes have a target value of 1, which means the project is on track. An SPI or CPI less than 1 indicates that the project is behind schedule or over budget, respectively. An SPI or CPI greater than 1 indicates that the project is ahead of schedule or under budget, respectively2. In this question, the project has an SPI of 0.75 and a CPI of 1.25, which means that the project is behind schedule but under budget. The project manager should report the project status to key stakeholders in a way that shows the project is under control and that corrective actions are being taken to address the schedule variance. Option A is not the best answer because performing a detailed root cause analysis using pareto charts and fishbone diagrams may be too time-consuming and complex for a monthly status report. The project manager should focus on the key issues and actions, not the details of the analysis. Option C is not the best answer because preparing a detailed presentation on earned value may be too technical and overwhelming for some stakeholders who are not familiar with EVM. The project manager should use simple and clear language to explain the project status and the implications of the EVM results. Option D is not the best answer because reporting that the project is not tracking as expected but is still under control may not be convincing or reassuring for the stakeholders. The project manager should provide evidence and rationale for why the project is under control and what steps are being taken to improve the schedule performance. Option B is the best answer because reporting that the project is behind schedule but that an additional experienced resource can be added to stay within schedule and maintain the budget is a realistic and proactive way to communicate the project status. The project manager acknowledges the schedule problem, proposes a feasible solution, and demonstrates confidence in the project's ability to meet the budget and the deadline. References: 1: PMBOK Guide, 7th edition, page 261 2: Schedule & Cost Performance Index, with Formulae & Examples (SPI/CPI)3
Question 515
A temporary endeavor that creates a unique product or service is called a:
