Close procurements Study guides, Class notes & Summaries

CAPM Practice Exam 163 Questions with Verified Answers How many project management processes belong to the Planning Process Group? - CORRECT ANSWER 24 Who should be included in a project schedule development meeting? - CORRECT ANSWER Team members, sponsors, selected stakeholders, and those with scheduling or executing duties The completion of the project scope is measured against which of the following? - CORRECT ANSWER Product requirements Which of the following are communication te...

Rita PMP Exam Prep Questions - Chapter 12 - Procurement Mgmt 20231. Once signed, a contract is legally binding unless: A. One party is unable to perform B. One party is unable to finance its part of the work C. It is in violation of applicable law D. It is declared null and void by either party's legal counsel Answer C Once signed, a contract is binding. Generally, the inability to perform, get financing, or one party's belief that the contract is null and void does not change the fa...

Rita PMP Exam Prep Questions - Chapter 12 - Procurement Mgmt 2023 verified1. Once signed, a contract is legally binding unless: A. One party is unable to perform B. One party is unable to finance its part of the work C. It is in violation of applicable law D. It is declared null and void by either party's legal counsel - correct answer Answer C Once signed, a contract is binding. Generally, the inability to perform, get financing, or one party's belief that the contract is null and vo...

CAPM Practice Exam 430 Questions with Verified Answers D. Throughout the project lifecycle - CORRECT ANSWER When should Project Risk Management be conducted? A. Project Planning B. Monitoring and Controlling C. Quality Planning D. Throughout the project lifecycle B. procurement strategy - CORRECT ANSWER Once the make-or-buy analysis is completed, which document defines the project delivery method? A. Procurement statement of work (SOW) B. Procurement strategy C. Terms of refere...

PMP Test Bank Practice Exam Questions and answers, 100% Accurate, rated A+ Which document defines how a project is executed, monitored and controlled, and closed? - -Project Management Plan Which changes occur in risk and uncertainty as well as the cost of changes as the life cycle of a typical project progresses? - -Risk and uncertainty decrease; the cost of changes increases. Which tool or technique is used in the Plan Scope Management process? - -Expert Judgment Which tool or te...

Initiation Process - ANSWER-Obtain authorization to start a new project or phase on an existing project Planning Process - ANSWER-Establish the scope of the project, refine the objectives and define the course of action required Executing Process - ANSWER-Complete the work defined in the project management plan to satisfy the project specifications Monitoring and Controlling Process - ANSWER-Track, review, and regulate the progress and performance of the project; identify areas which ch...

CAPM Practice Exam 150 Questions & Answers 2023/2024. 1. The process of establishing clear and achievable objectives, measuring their achievement, and adjusting performance in accordance with the results of the measurement is called: 2. During the full life cycle of the project, a plot of the project's expected expenditures will usually follow a characteristic S curve. This indicates that: 3. In which project lifecycle phase would you expect to have the greatest influence on overall ...

Certified Associate in Project Management (CAPM) Exam . The project manager and team should consider each process along with its inputs, tools and outputs. As a result, they should choose which are applicable. This effort is known as - In Initiating, a project charter is created. According to the PMBOK, which person or group may help write the charter? - The Monitoring and Controlling Process Group involves: - Much information is collected and distributed during the life of the pr...

Acquire Project Team - ANSWER <Process>. The process of confirming human resource availability and obtaining the team necessary to complete project assignments. Administer Procurements - ANSWER <Process>. The process of managing procurement relationships, monitoring contract performance, and making changes and corrections as needed. Close Procurements - ANSWER <Process>. The process of completing each project procurement. Closing Process - ANSWER <Process Group>....

Number of Communication Channels - ANSWER n(n-1)/2 Schedule Performance Index - ANSWER SPI = EV/PV Cost Performance Index - ANSWER CPI = EV/AC Schedule Variance - ANSWER SV = EV-PV Cost Variance - ANSWER CV = EV - AC Estimate at Completion if original was flawed - ANSWER EAC = AC + New ETC Estimate at Completion if current cost is accepted and future costs will be as budgeted - ANSWER EAC = AC + (BAC - EV) Estimate at Completion if what has been happening is expected to cont...