Exam (elaborations)
CAPM Exam 1 Questions and Answers 100% Correct
- Course
- Institution
Exam of 12 pages for the course wgu c783 at wgu c783 (CAPM Exam 1)
[Show more]
Content preview
CAPM Exam 1You are a project manager for your company and are helping management choose a
project. You've been presented with the following information: Project 1 has a net
present value of $25,000 and will take five years to complete. Project 2 has a net
present value of $45,000 and will take two years to complete. Project 3 has a net
present value of $33,500 and will take six years to complete. Which project should your
company choose to complete? - answer Project 2 - High NPV, low time
You are the project manager for your organization and you're working with management
to determine the best project for your company. Beth, a manager, has suggested using
linear programming to help determine the best project. Linear programming is an
example of which project selection method? - answer Constrained optimization
You are the project manager for your organization and you're working with your project
team to help coach them on the processes within project management. During this
coaching you explain the difference between constraints and assumptions and how this
affects project initiation. You also explain how long-term projects and short-term
projects may be measured differently during project ignition. In light of this conversion,
customer demands, changes to the marketplace, and opportunity are all examples of
which one of the following? - answerReasons for project initiation
Management must choose a project that will be the most profitable. This approach to
project selection is based on which one of the following? - answerThe Economic Model
You are the project manager of the NHJ Project. This project is to create a new software
package for a client. You're working with the client, business analysts, software
developers, business developers, and the sales team to create the vision and
requirements of the newly initiated project. Of the following, which one determines the
scope of the project? - answerThe Customer
June is managing a project which was slated to last one year. The project is now
entering its third year. Of the following, which statement is most applicable to this
situation? - answerThe project scope has not been properly identified.
You are an IT project manager for your company and are currently defining the scope
for a new project. The CIO defines project success as "implementation of standard
technical components." The project sponsor, on the other hand, defines project success
as "achieving excellence in technology," while the project customer defines project
success as "the presence of sales-promoting features." What should you do as the
project manager? - answerTalk with stakeholders to define the project objectives in
measurable metrics
, Yolanda is the project manager of the newly initiated P4 Project for her company. She's
working with the project team and the key stakeholders to review the project
requirements and prep for the project scope creation. All of the following documents are
needed to define the project scope except for which one? - answerThe Quality
Management Plan
You are the project manager of the PHG project. You and your project team need to
verify a project assumption. Which one of the following can most help with this process?
- answerHistorical Information
You are the project manager for your organization. You have just been assigned a new
project with a predetermined budget of $250,000. This is an example of which one of
the following? - answerConstraint
You have just taken over a failing project. In your initial review of the project schedule,
you realize the previous project manager has made no exceptions for travel delays. This
is an example of which one of the following? - answerAssumption
You are the project manager for your organization. The ART project, which you have
been working on for the last two months, has a very strict cost constraint, high
requirements for quality, and must be completed within the next eight months. If the
project exceeds its budget by more than 1 percent, management will deem the project a
failure. Changes to your project have caused the project costs to increase slightly,
thereby expanding the project schedule by two weeks. Of the following, which control
mechanism is the most important in this project? - answerCost Control
A new project is forming to create a new warehouse. The warehouse plans call for
completion within one year if the expected resources are available. Management
requires the in-house development team on this project. The project manager and the
project sponsor, however, feel the available resources are committed to too many other
projects and won't have adequate availability to the new project. Because of all this,
additional time will be needed in developing which one of the following? - answerA
resource-limited schedule
You are the project manager of the NHQA Project for your company and you're working
with the functional managers to define all of the needed resources on your construction
project. All of the following are resources except for which one? - answerTime
Henry is the project manager of the GHY Project for his company. He's working with the
project team to develop a robust project plan for the project. Bethanne, one of the
project team members, doesn't understand why so much time is needed for the project
plan and wants to get to work on the project more quickly. Harold should explain that
the project plan is used for all except one of the following. Which one isn't it used for? -
answerCreating methods to assign project resources to stakeholders
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Dreamer252. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76658 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now