PM Test Center

While managing a project for a new playground, one of your team members uncovers an opportunity to exploit a risk. Most likely, he found a way to:

A. Increase the probability or impact of a risk
B. Ensure that a positive risk is realized
C. Decrease the probability of impact of a risk
D. Eliminate the threat entirely

Answer: B. Ensure that a positive risk is realized
The term exploit is used to define a strategy that ensures that a positive risk, or opportunity, is realized. Increasing a probability or impact is a enhance response, decreasing a probability or impact is a mitigation response, and eliminating is an avoid response.

Which of the following estimating types takes the most amount of time to prepare?

A. Bottom up
B. Analogous
C. Parametric
D. Top down

Answer: A. Bottom up
Bottom up, also known as engineering, grass roots or definitive estimating, takes a substantial amount of time since it involves estimating each work package. The estimates are then rolled up to sub-project and overall project levels.

While interviewing for a new job, the hiring manager tells you that there are fringe benefits tied to the position. Based on what you know about these benefits, these could include any of the following except:

A. Health plan
B. 401k contributions
C. Company car
D. Tuition reimbursement

Answer: C. Company car
A fringe benefit is provided to every employee.

Which of the following is an example of Herzberg’s Theory’s motivation agents?

A. Increased salary
B. Recognition of tenure milestone at the company annual meeting
C. Company car
D. Increased responsibility

Answer: D. Increased responsibility
According to Herzberg, people are motivated by the work itself. Also known as motivation agents, these allow people to become the best they can be (self-actualization). If an employee is looking to obtain increased responsibility, then providing it as an opportunity to accomplish more motivates the employee to achieve greater things.

One disadvantage of using Activity-on-Arrow (AOA) is that:

A. Only finish-to-start relationships can be used.
B. Negative lag is not shown.
C. There can only be one critical path.
D. Project duration is limited to the total of all dummy activities.

Answer: A. Only finish-to-start relationships can be used.
A drawback of AOA is that only finish-to-start relationships are possible.

The project is currently behind schedule and with the goal of catching up, you decide to ensure that you reduce the time. Which of the following is an example of exploiting the risk?

A. Assign the most experienced and most talented personnel on any task.
B. Assign the most experienced and most talented personnel on a critical task.
C. Buy insurance against the delay.
D. Find a logical partner to share the risk with.

Answer: B. Assign the most experienced and most talented personnel on a critical task.
Exploiting a risk means that you are ensuring that the opportunity definitely happens. By adding the best person for a critical task, you are ensuring that the project work accelerates toward the goal.

Which tools and techniques are used during the Collect Requirements process?

A. Interviews and focus groups
B. Product analysis and inspection
C. WBS and WBS dictionary
D. Variance analysis and decomposition

Answer: A. Interviews and focus groups
The Collect Requirements process tools and techniques include interviews, focus groups, facilitated workshops, group creativity techniques, group decision making techniques, questionnaires and surveys, observations, and prototypes.

You and your sponsor agree to passively 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: A. Nothing. You will only react if the risk event occurs.
Passive acceptance means that you do not do anything unless the risk event occurs. If that is the case, then a workaround is created at that time. 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.

Which tool and technique is used throughout the entire Integration process group?

A. Project charter
B. Expert judgment
C. Project management plan
D. Organizational process assets

Answer: B. Expert judgment
Expert judgment is the only tool and technique that spans across every process in Integration. All other choices listed are inputs and/or outputs.

When applying six sigma, what is the approximate number of expected defects out of every 1,000,000?

A. 0
B. 3
C. 27
D. 600

Answer: B. 3
Six sigma represents 99.9997% defect-free, which is 3.4 out of every 1,000,000.