Which of the following contract types is described in the statement below?"The seller is reimbursed for all allowable costs for performing the contract work, and receives a fixed payment calculated as a percentage for the initial estimated project costs."

Cost Plus Fixed Fee Contracts (CPFF)

Fixed Price Incentive Fee Contracts (FPIF)

Firm Fixed Price Contracts (FFP)

Cost Plus Incentive Fee Contracts (CPIF)

What does RACI stand for?

Responsible, Accountable, Consult, Inform

Responsible, Account, Confirm, Inform

Responsible, Accountable, Consult, Inform

Roles, Accountable, Confirm, Inform

What does CPI value less than 1.0 indicates?

Cost overrun for work completed

Cost underrun of performance to date

Cost for completed work is as per estimate

When is the lessons learned document updated?

Throughout the project lifecycle

After program closure, the lessons learned document becomes the part of ____?

The company's organizational process assets

The program's performance record

Which of the following shows the ratio between a task's budgeted and actual costs?

To-Complete Performance Index (TCPI)

Schedule Performance Index (SPI)

A new program component provides an opportunity to enhance program outcomes. What does the program manager use to document and monitor the opportunity?

Component project risk register

An unforeseen geopolitical risk impacts a program to establish a company's operations abroad. Stakeholders now want to establish a risk response team to define a mitigation plan. Ultimately, what appeared to be a significant risk resulted in a negligible risk.What should the program manager recommend to stakeholders for future, similar situations?

Review the risk severity matrix

Establish an on-call risk response team

Review the risk severity matrix

A global financial system is being delivered by the program team to allow access from anywhere in the world. Following a new cross-border regulation applying to privacy of local banking data accessed from abroad, the CEO of the bank requests that an external audit be conducted to validate compliance with this new regulation. This event, which was not anticipated at this phase of the program, will generate additional work for the program team. This effort is not included in the current program roadmap and benefits delivery plan.What immediate actions should the program manager take?

Assess the impact of the audit and potential remediation on the program

Negotiate with the CEO in an attempt to avoid the audit

De-scope the capabilities of the system to not allow access from abroad

Accept the risk of the audit and continue the program as planned

Assess the impact of the audit and potential remediation on the program

A program is completed and the expected benefits are realized. Before executing the transition and closing of the program, what should the program manager do?

Archive documents and lessons learned

Obtain approval from the program governance board to initiate program closure activities

Perform administrative and program management information system (PMIS) closure activities

A program manager is concerned that a program will be unable to achieve its intended benefits. How should the program manager handle this concern?

Meet with the program management office (PMO) to review critical program success factors.

Meet with the component project managers to reallocate resources within the program.

Meet with the program stakeholders to determine if a reduction in program scope is acceptable.

Meet with the component project managers to perform risk analysis.

A program to implement a new payroll processing system at a healthcare company is nearing completion and is under budget. What should the program manager do next?

Present additional opportunities to the program sponsor.

Request permission from the program governance board to initiate program closure activities.

Present additional opportunities to the program sponsor.

Apply the remaining budget to operational activities.

Apply the remaining budget to deferred enhancement requests.

A multiyear program is ready to conclude. It has achieved all business objectives and is delivering its intended benefits. However, the program sponsor is not willing to sign the formal program closure acceptance document and the program continues to incur operational costs.What should the program manager do next?

Escalate the issue to the program governance board

Ask the finance department to increase the program budget

Escalate the issue to the program governance board

Ask key stakeholders to influence the program sponsor

Direct component project managers to archive all relevant project documents

How does a portfolio's collection of work differ from that of a program's collection of work?

Benefits are achieved only when managed collectively

A new program manager joins a multi-year program that has been underway for almost a year. During interviews, several stakeholders state that they do not understand how the program will help the organization.At the next stakeholder meeting, what should the program manager present to address their concerns?

Expected program benefits management plan

Program scope assessment results

Business case and program roadmap

Expected program benefits management plan

PMI PgMP Practice Test 7 - Free Online Exam Prep & Questions

During the selection of source process, you assign certain points towards various categories to judge the vendors. Which type of source selection process is it?

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PMI PgMP Practice Test 7

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