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Certified Associate in Project Management
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Question 1 of 30
1. Question
Assume that you have invested $400,000 on an initiative/a project, and the first year’s profit is $500,000. What will be the Return on investment (ROI)?
Correct
The percentage benefit from the project is the return on investment (ROI). If you invest $400,000 on the project, for instance, and the profit is $500,000 for the first year, so the ROI is equivalent to ($500,000-$400,000)/$400,000, which is 25 percent.
Incorrect
The percentage benefit from the project is the return on investment (ROI). If you invest $400,000 on the project, for instance, and the profit is $500,000 for the first year, so the ROI is equivalent to ($500,000-$400,000)/$400,000, which is 25 percent.
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Question 2 of 30
2. Question
Which economic model regards the project cost as the capital invested and converts the amount of revenue/profit into the interest rate over the life of that investment?
Correct
The Internal Return Rate (IRR) is a way of approaching the project’s gains. It looks at the project expense as the capital invested and converts the profit over the life of the investment into the interest rate. The higher the IRR rating, the more profitable the project is.
Incorrect
The Internal Return Rate (IRR) is a way of approaching the project’s gains. It looks at the project expense as the capital invested and converts the profit over the life of the investment into the interest rate. The higher the IRR rating, the more profitable the project is.
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Question 3 of 30
3. Question
What is meant by a positive cash flow?
Correct
Cash flow corresponds to both the revenue that comes in and an organization’s money that passes out. Positive cash flow means that more money is being earned (income) than the outflow of capital. Cash inflow is profit (income) and cash outflow is the expenditure/cost (money that has been spent).
Incorrect
Cash flow corresponds to both the revenue that comes in and an organization’s money that passes out. Positive cash flow means that more money is being earned (income) than the outflow of capital. Cash inflow is profit (income) and cash outflow is the expenditure/cost (money that has been spent).
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Question 4 of 30
4. Question
The methods used in project planning to perform different tasks, including the selection of a project and decision-making based on professional advice, are referred to as:
Correct
The use of expert judgment is not restricted to the selection process; we can use it in many areas, such as the creation of a project charter. An appropriate method, such as independent consultation, interview, survey, or committee discussions, can be used to obtain expert judgment.
Incorrect
The use of expert judgment is not restricted to the selection process; we can use it in many areas, such as the creation of a project charter. An appropriate method, such as independent consultation, interview, survey, or committee discussions, can be used to obtain expert judgment.
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Question 5 of 30
5. Question
A program can be part of a higher-level program, with some closely linked projects, along with some non-project activities/tasks. The management of the program concentrates on handling the complex interactions between the projects in the program. Keeping in view the aforementioned context, the duties of the program manager do not include:
Correct
The program manager must focus on overcoming the commodity problems and limitations that affect several projects within the program. He must keep his interests/goals consistent with the organization’s corporate strategies and goals and address challenges and manage/handle the shifts/changes within the organization’s governance system. It is not his responsibility to propose groundbreaking ideas or estimate the success of the enterprise.
Incorrect
The program manager must focus on overcoming the commodity problems and limitations that affect several projects within the program. He must keep his interests/goals consistent with the organization’s corporate strategies and goals and address challenges and manage/handle the shifts/changes within the organization’s governance system. It is not his responsibility to propose groundbreaking ideas or estimate the success of the enterprise.
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Question 6 of 30
6. Question
A collection of projects, programs, or both that are managed in a structured manner to achieve influence and advantages not achievable by independently controlling them is called:
Correct
A portfolio is considered a set of projects, programs, or both that are handled in an organized way to gain leverage and rewards not possible by individually managing them. Portfolio management is the centralized management of one or more portfolios which entails the selection, prioritization, authorization, monitoring, and supervision of projects, programs, and other associated work to achieve particular strategic business goals.
Incorrect
A portfolio is considered a set of projects, programs, or both that are handled in an organized way to gain leverage and rewards not possible by individually managing them. Portfolio management is the centralized management of one or more portfolios which entails the selection, prioritization, authorization, monitoring, and supervision of projects, programs, and other associated work to achieve particular strategic business goals.
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Question 7 of 30
7. Question
Supposing you’re tossing two coins, what is the probability of the first coin falling heads up and the second coin landing tails up?
Correct
You multiply the individual probabilities to determine the combined probability. There are only two options when you flip a coin: either heads up or tails up, it will fall. Each outcome is equally possible. And hence, 1 out of 2, or 50 percent, or 0.5 is the likelihood that the coin will fall heads up. So when you flip two coins, the chance of landing heads up for the first coin and landing tails up for the second coin is 0.25 (by multiplying 0.5 with 0.5).
Incorrect
You multiply the individual probabilities to determine the combined probability. There are only two options when you flip a coin: either heads up or tails up, it will fall. Each outcome is equally possible. And hence, 1 out of 2, or 50 percent, or 0.5 is the likelihood that the coin will fall heads up. So when you flip two coins, the chance of landing heads up for the first coin and landing tails up for the second coin is 0.25 (by multiplying 0.5 with 0.5).
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Question 8 of 30
8. Question
Suppose that you get into a deal that if a coin flip results in heads, you will win $10 and if it results in tails, you will pay $5. Since the chance of heads or tails is 0.5 for both, the estimated amount of the money you are going to win is:
Correct
This is the expected value of an end result. Provided that the chance of heads or tails is 0.5 for both, the estimated value is $10 multiplied by 0.5= $5 for the money you are going to gain, and the expected value for the money you are going to lose is $5 multiplied by 0.5= $2.5.
Incorrect
This is the expected value of an end result. Provided that the chance of heads or tails is 0.5 for both, the estimated value is $10 multiplied by 0.5= $5 for the money you are going to gain, and the expected value for the money you are going to lose is $5 multiplied by 0.5= $2.5.
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Question 9 of 30
9. Question
Which of the following parameters/variables have a smaller value, in the beginning, an optimum value when the project is being executed, and decreases rapidly as the project comes to an end?
Correct
The value of the expenses and the number of employees varies as mentioned above. The potential of any stakeholder to control the features of the project product without drastically increasing the expense is the highest at the onset and steadily declines as the project advances and in the beginning of the project, risk and unpredictability are greater but their value declines as the project progresses.
Incorrect
The value of the expenses and the number of employees varies as mentioned above. The potential of any stakeholder to control the features of the project product without drastically increasing the expense is the highest at the onset and steadily declines as the project advances and in the beginning of the project, risk and unpredictability are greater but their value declines as the project progresses.
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Question 10 of 30
10. Question
Which option does not describes the nature of the relationship between the positions/roles of a project manager and the office of project management (PMO) correctly?
Correct
The assertion that the project manager supervises projects to ensure that procedures and protocols are followed whilst the PMO is working on the project’s future targets is incorrect. Rather, a project manager works on the project goals, while the PMO handles the scope at the level of the program and manages scope adjustments at the level of the program that can be viewed as future opportunities to achieve the organization’s strategic business goals. In order to help achieve the project objectives, the project manager monitors and handles the resources/assets of the project, while the PMO aims to maximize the usage of project resources across all projects.
Incorrect
The assertion that the project manager supervises projects to ensure that procedures and protocols are followed whilst the PMO is working on the project’s future targets is incorrect. Rather, a project manager works on the project goals, while the PMO handles the scope at the level of the program and manages scope adjustments at the level of the program that can be viewed as future opportunities to achieve the organization’s strategic business goals. In order to help achieve the project objectives, the project manager monitors and handles the resources/assets of the project, while the PMO aims to maximize the usage of project resources across all projects.
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Question 11 of 30
11. Question
Following are the characteristics of a project that distinguishes it from an operation except for:
Correct
A work effort must be transient (that is, have a beginning and an end), and its outcome must be a unique commodity, result, or service to be eligible as a project. A continuous regularly performed activity/work is an operation, not a project. However, the characteristics of redundancy and repetitiveness must not be present.
Incorrect
A work effort must be transient (that is, have a beginning and an end), and its outcome must be a unique commodity, result, or service to be eligible as a project. A continuous regularly performed activity/work is an operation, not a project. However, the characteristics of redundancy and repetitiveness must not be present.
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Question 12 of 30
12. Question
Which document outlines the basic standards and specifications to fulfill the wishes and preferences of the stakeholders, and also officially authorizes the project?
Correct
Project charter: Authorization of the project is the single most critical task of the Project Charter process. To do that, the company requirements and the new product or service that the project will initiate to address those needs need to be reported.
Incorrect
Project charter: Authorization of the project is the single most critical task of the Project Charter process. To do that, the company requirements and the new product or service that the project will initiate to address those needs need to be reported.
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Question 13 of 30
13. Question
While directing and managing the project execution, there are guidelines/directions for carrying out an operation that reduces the likelihood of adverse effects associated with project risks referred to as:
Correct
Preventive actions are the recommendations for performing an operation that decreases the chance of adverse outcomes associated with project hazards. The quality assurance process during project planning recommends these proactive steps.
Incorrect
Preventive actions are the recommendations for performing an operation that decreases the chance of adverse outcomes associated with project hazards. The quality assurance process during project planning recommends these proactive steps.
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Question 14 of 30
14. Question
What is the primary objective of executing the plan for project management?
Correct
A deliverable is a unique and recognizable product, service, or outcome that must be created/developed to finish the project, as defined in the project management plan. Deliverables are the central purpose of executing the project management plan.
Incorrect
A deliverable is a unique and recognizable product, service, or outcome that must be created/developed to finish the project, as defined in the project management plan. Deliverables are the central purpose of executing the project management plan.
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Question 15 of 30
15. Question
What is the basic objective/motive of a post-project analysis/assessment?
Correct
The purpose of the post-project review is to learn lessons that can be extended to potential projects in order to operate them more efficiently. The experiences are still learned and recorded during the process, not just at the closure of the project. The closing of the project presents the ultimate chance to discuss and record lessons learned in a broader context.
Incorrect
The purpose of the post-project review is to learn lessons that can be extended to potential projects in order to operate them more efficiently. The experiences are still learned and recorded during the process, not just at the closure of the project. The closing of the project presents the ultimate chance to discuss and record lessons learned in a broader context.
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Question 16 of 30
16. Question
An evaluation of the efficiency of an employee based on the feedback from the colleagues of the employee, managers, clients with whom the employee works, other workers whom this employee can control, and self-evaluation would be termed as:
Correct
A 360-degree survey: This means feedback from all sorts of project partners. A 360-degree survey typically includes reviews from those over the evaluated agency and the results are then compiled to submit it as part of the post-project review.
Incorrect
A 360-degree survey: This means feedback from all sorts of project partners. A 360-degree survey typically includes reviews/feedbacks from those over the evaluated agency and the results are then compiled to submit it as part of the post-project review.
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Question 17 of 30
17. Question
What is the primary resource/tool for directing and handling the execution of projects?
Correct
The key tool is the project management information system, which is a set of resources and methods, manual and automatic, used to compile, organize and circulate project management procedures. It is used from the initiation stage all the way to the closing stage to enable operations.
Incorrect
The key tool is the project management information system, which is a set of resources and methods, manual and automatic, used to compile, organize and circulate project management procedures. It is used from the initiation stage all the way to the closing stage to enable operations.
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Question 18 of 30
18. Question
Factors under the category of organizational process assets that may be helpful or must be taken into account in directing and handling the execution of tasks do not include:
Correct
These include standardized work instructions, compliance specifications for the workspace, project archives from past projects, and directories for problem and fault control. A defect management database, for instance, may include a list of approved defect repairs containing information as to whether a previously completed defect repair was accepted or refused. It does not, however, provide instructions on hiring and firing personnel.
Incorrect
These include standardized work instructions, compliance specifications for the workspace, project archives from past projects, and directories for problem and fault control. A defect management database, for instance, may include a list of approved defect repairs containing information as to whether a previously completed defect repair was accepted or refused. It does not, however, provide instructions on hiring and firing personnel.
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Question 19 of 30
19. Question
Which option does not outline the key objectives of the directing and managing of the project execution phase correctly?
Correct
Checking the result of the analysis by applying the project management approach is not a central objective of directing and handling the execution phase of a project. Making the project deliverables by conducting the project management schedule/plan, enforcing the approved improvements, defect repairs, and other actions, executing the planned procedures, protocols, and standards, and generating and transmitting the status reports are the key purposes of directing and managing project execution.
Incorrect
Checking the result of the analysis by applying the project management approach is not a central objective of directing and handling the execution phase of a project. Making the project deliverables by conducting the project management schedule/plan, enforcing the approved improvements, defect repairs, and other actions, executing the planned procedures, protocols, and standards, and generating and transmitting the status reports are the key purposes of directing and managing project execution.
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Question 20 of 30
20. Question
Why is it necessary to establish/come up with a project management strategy/plan after the project has been initiated?
Correct
It creates a repository of knowledge that acts as a reference for the preparation, implementation, tracking and control, and closure of the project. Not all projects need all the planning procedures to the same degree. The content of the project management strategy would, however, focus on a single project. The project management strategy may be changed and revamped through the change control process as the project passes through various phases.
Incorrect
It creates a repository of knowledge that acts as a reference for the preparation, implementation, tracking and control, and closure of the project. Not all projects need all the planning procedures to the same degree. The content of the project management strategy would, however, focus on a single project. The project management strategy may be changed and revamped through the change control process as the project passes through various phases.
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Question 21 of 30
21. Question
When/at which point is a project formally approved, along with the official appointment of the project manager?
Correct
A project is undertaken by a relevant authority in the performing company through the approval of the project charter. Therefore, after the acceptance/approval of the project charter, the project is formally verified, the project manager is officially named, and the extent of authority of the project manager is decided.
Incorrect
A project is undertaken by a relevant authority in the performing company through the approval of the project charter. Therefore, after the acceptance/approval of the project charter, the project is formally verified, the project manager is officially named, and the extent of authority of the project manager is decided.
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Question 22 of 30
22. Question
A project for a client who is unrelated/external to the performing company is typically carried out on the basis of:
Correct
Typically, a project based on a contract is carried out for a client that is unrelated to the performing company. The contract can include essential details, such as customer-side stakeholders and payment conditions, needed for the charter.
Incorrect
Typically, a project based on a contract is carried out for a client that is unrelated to the performing company. The contract can include essential details, such as customer-side stakeholders and payment conditions, needed for the charter.
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Question 23 of 30
23. Question
Which process/phase of the project integration management involves the formation/generation of requests for adjustments, including suggestions for corrective measures, preventive actions, and defect repairs?
Correct
The Monitor and Control Project Work process creates requests for improvement, including proposals for corrective measures, preventive actions, and restoration/repair of defects. These proposals or suggestions for improvement become input objects to the assessment phase of the Perform Integrated Change Control.
Incorrect
The Monitor and Control Project Work process creates requests for improvement, including proposals for corrective measures, preventive actions, and restoration/repair of defects. These proposals or suggestions for improvement become input objects to the assessment phase of the Perform Integrated Change Control.
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Question 24 of 30
24. Question
The statement of work outlines the commodities, facilities, or outcomes that the project will deliver. The SOW for an external project is obtained from:
Correct
With an external project, the SOW is obtained from the client as part of a bid document, such as a request for a plan, a request for an offer or a request for details, or as part of a contract. The SOW contains or applies to the market requirements that the project would meet, the scope of the product, and the company’s key strategy sponsored by the project.
Incorrect
With an external project, the SOW is obtained from the client as part of a bid document, such as a request for a plan, a request for an offer or a request for details, or as part of a contract. The SOW contains or applies to the market requirements that the project would meet, the scope of the product, and the company’s key strategy sponsored by the project.
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Question 25 of 30
25. Question
Which of the following items of knowledge could not be included in the project charter?
Correct
The project charter does not include the contrasting points that have made the new project better than the associated companies’ projects. Instead, it is a high-level document that summarises company expectations, an understanding of client preferences and needs, how the new product or service can fulfill these preferences, the sponsor and manager’s name and authority level, and a high-level cost estimates description.
Incorrect
The project charter does not include the contrasting points that have made the new project better than the associated companies’ projects. Instead, it is a high-level document that summarises company expectations, an understanding of client preferences and needs, how the new product or service can fulfill these preferences, the sponsor and manager’s name and authority level, and a high-level cost estimates description.
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Question 26 of 30
26. Question
The set of tasks and characteristics that define the project’s product, service, or outcome is referred to as:
Correct
A project’s scope comprises the scope of the project and the product scope. The product scope is the set of services and enhancements to be provided by the project that defines a product, service, or outcome. It is about both what is included and what is excluded from the project.
Incorrect
A project’s scope comprises the scope of the project and the product scope. The product scope is the set of services and enhancements to be provided by the project that defines a product, service, or outcome. It is about both what is included and what is excluded from the project.
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Question 27 of 30
27. Question
Whether the strategic plan for the project scope is general and high-level (with little details) or systematic and comprehensive does not rely on:
Correct
Whether the management strategy for the project scope is informal and high-level (without too much depth) or structured and comprehensive depends on the project’s scale, sophistication/complexity, and the subsequent requirements rather than the experience of the project’s Head Commission.
Incorrect
Whether the management strategy for the project scope is informal and high-level (without too much depth) or structured and comprehensive depends on the project’s scale, sophistication/complexity, and the subsequent requirements rather than the experience of the project’s Head Commission.
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Question 28 of 30
28. Question
You must establish the scope management strategy before beginning to carry out the five scope management processes. What is the primary objective of the scope Management?
Correct
The primary purpose of scope management is to make sure that the project involves and executes the necessary work and only the required work. It is proposed that this work is part of the initiative to establish the project management plan/strategy. As a guide for identifying, checking, and managing the scope, this plan is used.
Incorrect
The primary purpose of scope management is to make sure that the project involves and executes the necessary work and only the required work. It is proposed that this work is part of the initiative to establish the project management plan/strategy. As a guide for identifying, checking, and managing the scope, this plan is used.
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Question 29 of 30
29. Question
Which technique gathers the specifications for a product or procedure by personally witnessing the user using the device or conducting the procedure?
Correct
Observations: in motion in the physical world with the workers on the job, the procedure or product is witnessed. This method, for that reason, is often called job shadowing. The observer will actually watch the consumer doing the work or can partake in it, depending on the circumstances.
Incorrect
Observations: in motion in the physical world with the workers on the job, the procedure or product is witnessed. This method, for that reason, is often called job shadowing. The observer will actually watch the consumer doing the work or can partake in it, depending on the circumstances.
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Question 30 of 30
30. Question
Which strategy is successful in rapidly identifying cross-functional requirements and resolving discrepancies in requirements amongst stakeholders?
Correct
A facilitated workshop is a meeting that brings together cross-functional stakeholders to concentrate on identifying product requirements. These workshops can serve to create consensus and improve stakeholder communication and thereby develop partnerships that will help the project succeed.
Incorrect
A facilitated workshop is a meeting that brings together cross-functional stakeholders to concentrate on identifying product requirements. These workshops can serve to create consensus and improve stakeholder communication and thereby develop partnerships that will help the project succeed.