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PMI - CAPM - Certified Associate in Project Management (CAPM) Latest Latest Exam Cram
Download Certified Associate in Project Management (CAPM) Exam Dumps
NEW QUESTION 37
The individual or group that provides resources and support for a project and is accountable for success is the:
- A. business partners
- B. sponsor
- C. functional managers
- D. customer
Answer: B
Explanation:
Section: Volume C
NEW QUESTION 38
What is the primary benefit of meeting quality requirements?
- A. Quality metrics
- B. Quality control measurements
- C. Benchmarking
- D. Less rework
Answer: D
Explanation:
Section: Volume D
Explanation/Reference:
NEW QUESTION 39
Activity cost estimates and the project schedule are inputs to which Project Cost Management process?
- A. Determine Budget
- B. Control Costs
- C. Estimate Costs
- D. Plan Cost Management
Answer: A
Explanation:
Section: Volume B
Explanation:
7.2.3.1 Activity Cost Estimates
Activity cost estimates are quantitative assessments of the probable costs required to complete project work.
Cost estimates can be presented in summary form or in detail. Costs are estimated for all resources that are applied to the activity cost estimate. This includes, but is not limited to, direct labor, materials, equipment, services, facilities, information technology, and special categories such as cost of financing (including interest charges), an inflation allowance, exchange rates, or a cost contingency reserve. Indirect costs, if they are included in the project estimate, can be included at the activity level or at higher levels.
Process: 7.3 Determine Budget
Definition: The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.
Key Benefit: The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled.
Inputs
1. Cost management plan
2. Scope baseline
3. Activity cost estimates
4. Basis of estimates
5. Project schedule
6. Resource calendars
7. Risk register
8. Agreements
9. Organizational process assets
Tools & Techniques
1. Cost aggregation
2. Reserve analysis
3. Expert judgment
4. Historical relationships
5. Funding limit reconciliation
Outputs
1. Cost baseline
2. Project funding requirements
3. Project documents updates
NEW QUESTION 40
Which item is a formal proposal to modify any document, deliverable, or baseline?
- A. Scope baseline
- B. Requirements documentation
- C. Change request
- D. Risk urgency assessment
Answer: C
NEW QUESTION 41
Which schedule method allows the project team to place buffers on the project schedule path to account for limited resources and project uncertainties?
- A. Critical path method
- B. Critical chain method
- C. Resource leveling
- D. Schedule network analysis
Answer: B
Explanation:
Section: Volume B
Explanation:
6.6.2.3 Critical Chain Method
The critical chain method (CCM) is a schedule method that allows the project team to place buffers on any project schedule path to account for limited resources and project uncertainties. It is developed from the critical path method approach and considers the effects of resource allocation, resource optimization, resource leveling, and activity duration uncertainty on the critical path determined using the critical path method. To do so, the critical chain method introduces the concept of buffers and buffer management. The critical chain method uses activities with durations that do not include safety margins, logical relationships, and resource availability with statistically determined buffers composed of the aggregated safety margins of activities at specified points on the project schedule path to account for limited resources and project uncertainties. The resource-constrained critical path is known as the critical chain.
The critical chain method adds duration buffers that are non-work schedule activities to manage uncertainty.
One buffer, placed at the end of the critical chain, as shown in Figure 6-19, is known as the project buffer and protects the target finish date from slippage along the critical chain. Additional buffers, known as feeding buffers, are placed at each point where a chain of dependent activities that are not on the critical chain feeds into the critical chain. Feeding buffers thus protect the critical chain from slippage along the feeding chains.
The size of each buffer should account for the uncertainty in the duration of the chain of dependent activities leading up to that buffer. Once the buffer schedule activities are determined, the planned activities are scheduled to their latest possible planned start and finish dates. Consequently, instead of managing the total float of network paths, the critical chain method focuses on managing the remaining buffer durations against the remaining durations of chains of activities.
Figure 6-19. Example of Critical Chain Method
NEW QUESTION 42
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