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IFMA FMP PROJECT MANAGEMENT EXAM QUESTIONS AND ANSWERS | ACCURATE AND VERIFIED WITH RATIONALES | UPDATED 2024 | GRADED A | GUARANTEED PASS$20.99
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IFMA FMP PROJECT MANAGEMENT EXAM QUESTIONS AND ANSWERS | ACCURATE AND VERIFIED WITH RATIONALES | UPDATED 2024 | GRADED A | GUARANTEED PASS If an organization has narrowed the list of contractors submitting proposals but is still having trouble deciding between them, what could help? - CORRE CT 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. Whe n 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 m anagers 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 perspect ive? - 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 ma nager 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 ch oice 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 sche dule? - 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 incur red. 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 act ivities 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 estima te 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 b reakdown 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 repor ted progress. Which is an advantage of using a standardized project management model? - CORRECT ANSWER The correct answer is: The model is a framework that project managers can adapt to project specifics. In the project model, what do outputs from th e Plan phase become? - CORRECT ANSWER The correct answer is: inputs to the Execute phase.
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