Configuration Management process - Status accounting - ANSWER knowing the status of items, proposed changes and the implementation status of approved changes (Archived records)
Risk in a Business case - ANSWER the major risks and their impact on the business case.
What a business case include...
APM PMQ EXAM Complete Questions &
Answers(Latest Update 2024)
Configuration Management process - Status accounting - ANSWER knowing the status
of items, proposed changes and the implementation status of approved changes
(Archived records)
Risk in a Business case - ANSWER the major risks and their impact on the business
case.
What a business case includes? (BOBCART) - ANSWER Background, Options,
Benefits, Commercial Aspects, Risks, Timescales
PRAM process - ANSWER Initiate
Identify
Assess
Plan responses
Implement responses
Risk management - Initiate - ANSWER How the risk will be managed? (PMP, Risk
management plan)
Risk management - Assess - ANSWER how risky is each risk (Risk matrix, probability &
impact chart)
Risk management - Identify - ANSWER Use of Identification methods such as (risk logs,
brainstorming, meetings, Delphi)
Plan responses - ANSWER is this risk a threat or opportunity to the project? (SWAT
Analysis)
Implement - ANSWER when the risk is added to the project plan, (PMP, risk log, Gannt
chart)
Extended project life cycle - ANSWER Concept
Definition
Development
Handover and Closure
Operations
Benefits Realisation
Termination
,Who are potential stakeholders within a project? - ANSWER Project Sponsor, Project
Team, Users , Suppliers, Customers, Senior Management
Information management process - ANSWER Collection, Storage, Dissemination,
Archiving, Destruction
Requirements management process - Capture - ANSWER is a research exercise
undertaken early in a project to establish the scope and what is needed. (brainstorming,
prototypes, archived documentation)
What are the steps of the change control process? - ANSWER Submit Change, Review
change, Assess feasibility and impact, Decision
What is the requirements model? - ANSWER Business needs, features, requirements,
acceptance Criteria
What are the steps of the configuration management process? - ANSWER Planning,
Identification, Control, Status Accounting , Audit
What are 2 types of breakdown structure? - ANSWER WBS, OBS
What is a Work Breakdown Structure (WBS)? - ANSWER a comprehensive list of all
activities needed to complete a project.
What is a Product Breakdown Structure (PBS)? - ANSWER focuses on the deliverables
needed to deliver the project. This can be broken down further into tasks within a WBS.
What are 5 types of report? - ANSWER Progress
Quality
Risk
Finance
Audit
What are 3 types of investment appraisal? - ANSWER Net present value (NPV)
Payback
Internal Rate of Return (IRR)
What are the steps of the stakeholder management process? - ANSWER Identify
Assess
Develop
Engage
How do you calculate Earned Value (EV)? - ANSWER EV= %complete x Budget at
completion
, How do you calculate Cost Variance (CV)? - ANSWER CV= Earned Value - Actual
Costs
How do you calculate Schedule Variance (SV)? - ANSWER SV= Earned Value -
Planned Costs
How do you calculate Cost Performance Index (CPI)? - ANSWER CPI = Earned Value /
Actual Costs
How do you calculate Schedule Performance Index (SPI)? - ANSWER SPI = Earned
Value / Planned Costs
How do you calculate Estimate at completion - cost (EACc)? - ANSWER EACc= Budget
at Completion/Cost Performance Index
How do you calculate Estimate at completion - time (EACt)? - ANSWER EACt= Planned
Duration/Schedule Performance Index
What does Earned Value Management tell you? - ANSWER - Schedule
- Efficiency
- Time to completion
- Spend
- Cost to completion
- Actual forecast cost
- Variance at completion
What are the benefits of using Earned Value Management? - ANSWER - Reporting
- Estimating errors
- Forecasting
- Justify corrective action
- Justify early termination
What are 3 types of estimating tool? - ANSWER - Comparative
- Bottoms Up
- Parametric
What is Comparative estimating? - ANSWER Uses historical data to provide current
estimations
What is Bottoms up estimating? - ANSWER Detailed estimate produced for each work
package and then rolled-up throughout the WBS
What is parametric estimating? - ANSWER Uses statistical modelling software to
produce overall estimates for time and cost
What are problems with estimating? - ANSWER - Optimisim/Pessimism
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