IFMA FMP PROJECT MANAGEMENT EXAM QUESTIONS
AND ANSWERS VERIFIED ANSWERS WITH RATIONALES |
UPDATED 2024 | GRADED A |
If an organization has narrowed the list of contractors submitting proposals but is
still having trouble deciding between them, what could help? - CORRECT
ANSWER The correct answer is: Bidder presentations
Which statement is true of the Execute, Monitor and Control phases of the project
model? - CORRECT ANSWER The correct answer is: These phases are often
concurrently or iteratively performed.
When project managers determine the level of data to collect for monitoring and
controlling project work, what do they not need to verify? - CORRECT
ANSWER The correct answer is: Project work delays due to data collection are
scheduled.
What do project managers submit when they suggest revising the project
management plan to make it feasible given the current situation? - CORRECT
ANSWER The correct answer is: change order.
What is developed to review a final deliverable from an entire system
perspective? - CORRECT ANSWER The correct answer is: Checklist reviews
Which statement is true about the documentation for project closure? -
CORRECT ANSWER The correct answer is: Documentation may include
operations and maintenance manuals.
A project manager wants to minimize risk and provide some independent checks and
balances on contractor work. Which contract model should the organization use? -
CORRECT ANSWER Construction management Your answer is correct.
Construction management is the best choice because it uses an independent
consultant to supervise separate contracts with design firms and construction firms,
which allows for some independent review. (Reference: 3-2-10)
According to the critical path method (CPM) of scheduling, what is the critical
path for any project? - CORRECT ANSWER the longest set of sequential tasks
in the project. Your answer is correct.
The critical path is the longest set of sequential tasks in a project and indicates the
,shortest possible project duration. The critical path is determined using forward
pass scheduling followed by backward pass scheduling.(Reference: 3-2-3)
, Why does a budget need to be closely integrated with the project schedule? -
CORRECT ANSWER costs are allocated to the period in which they occur. Your
answer is correct.
Development of the budget requires close integration with the project schedule
because costs are allocated to the period in which the costs are incurred. Similarly,
budget constraints can require changes to the project schedule such as completing
a task more quickly to minimize financing costs. Budgets are produced after
schedules. Estimates for costs are made during planning rather than waiting until
later.(Reference: 3-2-5)
Which scheduling methods are for activities NOT concurrently performed? -
CORRECT ANSWER Traditional waterfall model scheduling Your answer is
correct.
In forward pass, backward pass, and critical pass scheduling, as many activities
as possible are concurrently performed, constrained by resource availability and
predecessors. The traditional waterfall model does not include these time-saving
processes, and therefore it is rarely used for project scheduling.(Reference: 3-2-3)
Which statement is true about the process steps used to build a project schedule? -
CORRECT ANSWER Failure to agree on a duration estimate may indicate a need
for further task division. Your answer is correct.
Failure to come to agreement on an estimate may indicate the task needs to be
further broken down. Dependencies are part of sequencing. Knowing the skill
levels of personnel affects the length of time required for a task, so determining
this is necessary. Sequencing is not performed during work breakdown structure
creation. (Reference: 3-2-3)
Which statement is true of communications management for an office relocation? -
CORRECT ANSWER Post-relocation orientation brochures can help employees find
their way around.
Your answer is correct.
Which attribute most accurately describes a project? - CORRECT ANSWER The
correct answer is: Projects are finite.
What is an example of how project managers apply sound management
techniques? - CORRECT ANSWER The correct answer is: they break down a
task further if it remains at the same percent completion despite reported progress.
Which is an advantage of using a standardized project management model? -
CORRECT ANSWER The correct answer is: The model is a framework that
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