PM Test Center

The PERT formula is typically calculated as:

A. (O+M+P)/6
B. (O+4M+P)/6
C. (O+M+P)/3
D. (O+4M+P)/3

Answer: B. (O+4M+P)/6
PERT is a weighted average, typically with emphasis on the most likely (M). PERT is a weighted average, typically with emphasis on the most likely (M). So if you are going to calculate 1x optimistic plus 4x most likely plus 1x pessimistic, then there are six variables. Therefore, you would divide by six to get a weighted estimate.

After making a small change to your project schedule, you realize now that you have two critical paths. Therefore, the project:

A. Will cost less
B. Must be modified to allow only one critical path
C. Has increased risk
D. Cannot be accomplished

Answer: C. Has increased risk
A critical path is the longest path (and the shortest amount of time possible) it takes to complete the project. If you have two critical paths, that means you have less flexibility in your schedule. As a result, you have increased risk. You can actually have as many critical paths as necessary but of course, the more you have the riskier the project becomes.

The purpose of a risk management plan is:

A. Indicate the probability and impact of each risk
B. Monitor risks on the project
C. Describe how risk will be managed on the project
D. Identify risks on the project

Answer: C. Describe how risk will be managed on the project
As with any management plan, the key is to describe how something will be managed. The key word being HOW. You do not actually do anything with the risks at this point; rather simply documenting the process of managing risk. The other choices on the list refer to other risk processes.

Costs that are usually associated with conformance are:

A. Training and testing
B. Scrap and rework
C. Liabilities
D. Lost business

Answer: A. Training and testing
Costs of conformance include prevention costs (e.g. training) and appraisal (e.g. testing). All other choices are costs of nonconformance.

Joe is conducting a SWOT analysis. Which process is he most likely working in?

A. Identify Risks
B. Perform Qualitative Risk Analysis
C. Perform Quantitative Risk Analysis
D. Plan Risk Responses

Answer: A. Identify Risks
A SWOT analysis is a tool and technique typically used in the Identify Risks process.

Using a Fixed Price with Economic Price Adjustment Contract (FP-EPA) typically protects the:

A. Buyer
B. Seller
C. Buyer and seller
D. Escrow

Answer: C. Buyer and seller
The intention of a Fixed Price with Economic Price Adjustment Contract is to protect both the buyer and the seller from external conditions outside of their influence.

An anonymous way to reach a consensus of experts when identifying risks is:

A. Interviewing
B. Delphi technique
C. Root cause analysis
D. Brainstorming

Answer: B. Delphi technique
When using the Delphi technique, a facilitator gathers risks through an anonymous survey. When feedback is received, the process is repeated until a consensus is reached.

You and your sponsor agree to actively accept the quality risk of using a non-certified engineer on the project. What will you be doing?

A. Nothing. You will only react if the risk event occurs.
B. Find a way to decrease the probability or impact of the risk.
C. Create a contingency plan in the event the risk event occurs.
D. Insure the risk so your company can be compensated if the risk event occurs.

Answer: C. Create a contingency plan in the event the risk event occurs.
Active acceptance means that you create a contingency plan but do not implement it unless the risk event occurs. Typically this strategy is for risks that have a low probability and/or low impact. Decreasing probability or impact is a mitigation response while insurance is a transfer response.

As Elaine documents test results, she completes each case with either a pass or a fail. This is an example of:

A. Standard deviation
B. Mutually exclusive
C. Statistical independence
D. Fitness for use

Answer: B. Mutually exclusive
Mutually exclusive, at the most basic level, means that two things cannot happen at the same time. In this example, each test case is either a pass or a fail. Elaine cannot choose both.

One way to enhance a positive risk is:

A. Hiring another contractor to accelerate a project
B. Replacing a new employee with a more experienced one to ensure better quality
C. Buying insurance against weather impacting a construction schedule
D. Starting a task a few days later on the critical path

Answer: A. Hiring another contractor to accelerate a project
Enhance strategy is used when attempting to increase the probability or impact of a risk. A common method is to crash, essentially adding more resources to a particular task to accelerate the timeline.