PROJECT MANAGEMENT MODULE (IFMA FMP) EXAM
LATEST 2024 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS|ALREADY GRADED A+
Which pre-project actions reduce risk and increase the probability
of project success? ____The correct answer is: Pre-select
contractors
If an organization has narrowed the list of contractors submitting
proposals but is still having trouble deciding between them, what
could help? ____The correct answer is: Bidder presentations
Which statement is true of the Execute, Monitor and Control
phases of the project model? ____The correct answer is: These
phases are often concurrently or iteratively performed.
When project managers determine the level of data to collect for
monitoring and controlling project work, what do they not need to
verify? ____The correct answer is: Project work delays due to
data collection are scheduled.
What do project managers submit when they suggest revising the
project management plan to make it feasible given the current
situation? ____The correct answer is: change order.
What is developed to review a final deliverable from an entire
system perspective? ____The correct answer is: Checklist
reviews
, PROJECT MANAGEMENT MODULE (IFMA FMP) EXAM
LATEST 2024 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS|ALREADY GRADED A+
Which statement is true about the documentation for project
closure? ____The correct answer is: Documentation may include
operations and maintenance manuals.
A project manager wants to minimize risk and provide some
independent checks and balances on contractor work. Which
contract model should the organization use? ____Construction
management Your answer is correct.
Construction management is the best choice 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? ____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)
, PROJECT MANAGEMENT MODULE (IFMA FMP) EXAM
LATEST 2024 ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS|ALREADY GRADED A+
Why does a budget need to be closely integrated with the project
schedule? ____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 incurred. 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? ____Traditional waterfall model scheduling Your
answer is correct.
In forward pass, backward pass, and critical pass scheduling, as
many activities 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? ____Failure to agree on a duration estimate
may indicate a need for further task division. Your answer is
correct.
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