PMI PgMP Practice Test - Questions Answers, Page 24

What document should you provide to the vendors if you're only interested for a set fee for their materials?

Which earned value management formula can help you determine how likely it is that you'll complete the program based on the amount of cash left in the program budget?

You are the program manager for your organization and you are dealing with your program stakeholders. You are explaining to them, along with your program team, how certain activities in the program may cause delays in the schedule if the associated risk events come into play. The cost of impact of the risk events are minimal, but the schedule impacts could be bigger. The stakeholders are concerned about delaying the schedule beyond a given due date for the program.

They would like you to determine if it is possible to add more labor, use a higher grade of material, or hire some consultants to ensure the risks do not occur in the program. They are not much concerned about the cost of the solution as long as the solution or identified risks do not delay the program completion. What type of risk response are your program stakeholders recommending in this situation?

Communication is large percentage of program execution as the program manager must communicate with the appropriate stakeholders. In larger programs face-to-face communication is not always possible. When emails are used what verbal aspect of communication is lost?

If a risk has a probability of 60 percent and an impact of -$57,000 what will the expected monetary value of the risk event be?

Tom is program manager for his organization. His program is scheduled to last ten months and has a cost estimate for the program of $550,000. It is now month nine and Tom reports that he actually has a cost variance of a positive $56,000. While Tom is pleased, the new management is not. Why is a positive cost variance not necessarily good news?

You are the program manager of the NHQ Program for your organization. Your program is nearing the completion of one of its major phases and there are several resources that should be released at this time. What program management plan will guide you to release of the program resources and transfer the resources and benefits to operations within the organization?

You are the project manager for the GGG Project and are about to close the project kick off meeting. All of the project team members and the key stakeholders are in attendance. What final item should you talk about before closing the meeting?

You have completed a project for a client at his facility. The project has lasted for 18 months and you have generated many reports, plans, change request forms, and other documents about the project work. What should you do with the project documentation?