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2019 NEW PMI PMP: PMP - Project Management Professional v6 (PMI-001) Exam Questions and Answers RELEASED in Braindump2go.com Online IT Study Website Today! 2019 Braindump2go Valid PMI PMP Exam Preparation Materials: 2019 Latest

1720Q&As PMP PDF Dumps and VCE Dumps:

https://www.braindump2go.com/pmp-exam.html New Question Most statistical simulations of budgets, schedules, and resource allocations use which one of the following approaches?

A. B. C. D.

PERT Decision-tree analysis Present value analysis Monte Carlo analysis

Answer: D Explanation: Simulations are typically performed using Monte Carlo in which a project model is computed many times with the input values chosen at random for each iteration from the probability distribution of these variables. Monte Carlo analysis supports various statistical distributions (normal, triangular, beta, uniform, etc.) used in estimating budgets, schedules, and resource allocations.

New Question In the below path convergence example, if the odds of completing activities 1, 2, and 3 on time are 50 percent, 50 percent, and 50 percent, what are the chances of starting activity 4 on day 6? A. 10 percent B. 13 percent C. 40 percent

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Guarantee All Exams 100% Pass One Time! D. 50 percent Answer: B Explanation: Probability (starting activity 4 on day 6)=(0.5)3 =0.125 or 13%

New Question A project health check identified a risk that your project would not be completed on time. As a result, you are quantifying the project's risk exposure and determining what cost and schedule contingency reserves might be needed. You performed a schedule risk analysis using Monte Carlo analysis. The basis for your schedule risk analysis is the______________ A. B. C. D.

WBS Gantt chart Schedule network diagram and duration estimates Probability/impact risk rating matrix

Answer: C Explanation: When determining the likelihood of meeting the project's schedule end date through Monte Carlo, the schedule network diagram and duration estimate are used as inputs to the simulation program. Cost risk, on the other hand, uses cost estimates from the WBS. New Question You are developing radio frequency (RF) technology that will improve overnight package delivery. You ask each stakeholder to estimate the most optimistic package delivery time using the RF technology, the most pessimistic time, and the most likely time. This shows that for your next step you plan to______________ A. B. C. D.

Use a beta or triangular probability distribution Conduct a sensitivity analysis Structure a decision analysis as a decision tree Determine the strategy for risk response

Answer: A Explanation: Interviews often are used to help quantify the probability and consequences of risks on project objectives. The type of information collected during the interview depends on the type of probability distribution that is used. A beta or triangular distribution is used widely when information is gathered on the optimistic (low), pessimistic (high), and most likely scenarios. New Question Each one of the following statements about risk avoidance is true EXCEPT that it______________ A. Focuses on changing the project management plan to eliminate entirely the threat B. Isolates the project's objectives from the risk's impact

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Guarantee All Exams 100% Pass One Time! C. Accepts the consequences of the risk event should it occur D. Changes the project objective that is in jeopardy Answer: C Explanation: Accepting the consequences of the risk event is categorized as risk acceptance. With this risk response approach, the project team takes no action to reduce the probability of the risk's occurring. New Question If the probability of event 1 is 80 percent and of event 2 is 70 percent and they are independent events, how likely is it that both events will occur? A. B. C. D.

6 percent 15 percent 24 percent 56 percent

Answer: D Explanation: The likelihood is determined by multiplying the probability of event 1 by the probability of event 2. New Question The project scope statement should be used in the identify risk process because it______________ A. B. C. D.

Identifies project assumptions Identifies all the work that must be done and, therefore, includes all the risks on the project Helps to organize all the work that must be done on the project Contains information on risks from prior projects

Answer: A Explanation: Project assumptions, which should be enumerated in the project scope statement, are areas of uncertainty, and as such are potential causes of project risk. The scope statement and the WBS are part of the scope baseline, an input to identify risks. New Question Your project team has identified all the risks on the project and has categorized them as high, medium, and low. The "low" risks are placed on which one of the following for monitoring? A. B. C. D.

Threat list Low risk list Watch list Low impact list

Answer: C Explanation: Even low-priority risks must be monitored. A watch list is used to ensure such risks are tracked

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Guarantee All Exams 100% Pass One Time! for continued monitoring. New Question A general contingency is used for______________ A. B. C. D.

Risks that are identified at the outset of the project Risks that are not identified at the outset of the project but are known before they occur Risks that cannot be known before they occur because they are external risks Any risks that cannot be known before they occur

Answer: D Explanation: There is a category of risks that is sometimes called unknown-unknowns, meaning that the risk is not knowable and, therefore, the probability of the risk is also not knowable. Your lead technical advisor becoming seriously ill, your offices being ransacked by persons engaged in industrial espionage, or one of your subcontractors winning the lottery and running off to the Cayman Islands are all examples of risks that are not known before they occur. However, such risks must be expected and a general contingency can be set aside to address the impact they leave in their wake. New Question The simplest form of quantitative risk analysis and modeling techniques is______________ A. B. C. D.

Probability analysis Sensitivity analysis Delphi technique Utility theory

Answer: B Explanation: Sensitivity analysis, as a quantitative risk analysis and modeling technique, helps to determine the risks that have the most potential impact on the project. It examines the extent to which the uncertainty of each project element affects the objective being examined when all other uncertain elements are held at their baseline values. New Question If a business venture has a 60-percent chance to earn \$2 million and a 20-percent chance to lose \$1.5 million, what is the expected monetary value of the venture? A. B. C. D.

-\$50,000 \$300,000 \$500,000 \$900,000

Answer: D Explanation: EMV = (\$2M Ă&#x2014; 60%) + (-\$1.5M Ă&#x2014; 20%) = (\$1.2M) + (-\$300,000) = \$900,000

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