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APM PMQ EXAM REVISION BOK 7 2024 REVISED ACTUAL EXAM NEWEST VERSION REVISED 270 QUESTION AND CORRECT ANSWER FROM VERIFIED SOURCES RATED A GRADE.£13.73
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APM PMQ EXAM REVISION BOK 7 2024 REVISED
ACTUAL EXAM NEWEST VERSION 2024-2025 REVISED
270 QUESTION AND CORRECT ANSWER FROM VERIFIED
SOURCES RATED A GRADE.
What are the five criteria for a successful project? ✔✔CORRECT
ANSWER✔✔Time, cost, quality, risk & benefits
Project Management ✔✔CORRECT ANSWER✔✔The application of
processes, methods, knowledge, skills and experience to achieve the
project objectives
Programme Management ✔✔CORRECT ANSWER✔✔The coordinated
management of projects and change manage activities to achieve
beneficial change
Benefits Management ✔✔CORRECT ANSWER✔✔The identification,
definition, planning, tracking and realisation of business benefits
Advantages of project management software ✔✔CORRECT
ANSWER✔✔Excellent reporting tool
What-if analysis
Progress tracking
Quick calculations
,Earned value calculation ✔✔CORRECT ANSWER✔✔is the value of
completed work expressed in terms of the budget assigned to that
work. A measure of progress which may be expressed in cost or labour
hours
% complete x budget
Cost variance calculation ✔✔CORRECT ANSWER✔✔BCWP (budgeted
cost of work performed) - ACWP (actual cost of work performed)
i.e. (EV - AC)
Schedule variance calculation ✔✔CORRECT ANSWER✔✔BCWP (budget
cost of work performed) - BCWS (budget cost of work scheduled)
i.e. (EV - PC)
Cost Performance Index calculation ✔✔CORRECT ANSWER✔✔BCWP
(budget cost of work performed) / ACWP (actual cost of work
performed)
i.e. (EV / AC)
,Schedule Performance Index calculation ✔✔CORRECT
ANSWER✔✔BCWP (budget cost of work performed) / BCWS (budget
cost of work scheduled)
i.e. (EV / PC)
Estimate at completion calculation (not in book) ✔✔CORRECT
ANSWER✔✔Budget at completion / CPI
Final duration calculation (not in book) ✔✔CORRECT
ANSWER✔✔Projected duration / SPI
Benefits of EVM ✔✔CORRECT ANSWER✔✔Useful for monitoring,
tracking and reforecasting cost and schedule, and for paying suppliers
on the basis of work done.
Simpler project reporting (KPIs)
Highlight estimating errors
Facilitate forecasting of cost and time
Facilitates tighter controls of direct costs
Help justify corrective action
Identifies where early termination of project is required
, Information management components ✔✔CORRECT ANSWER✔✔CS
DAD
Collect
Store
Disseminate
Archive
Destroy
Arguments against the use of EVM ✔✔CORRECT ANSWER✔✔Requires
frequent information on costs
Forecasts are based on no corrective action
Can lead to a lack of focus on quality
Oversimplified
Doesn't work for some project methods (agile)
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