PMP Certification Questions

I. Inputs

• Cost baseline


• Project funding requirements


• performance reports


• Work performance information


• Approved change requests


• Project management plan

II. Tools and Techniques

• Cost change control system


• Performance measurement analysis


• Forecasting


• Project performance reviews


• Project management software 


• Variance management

III. Outputs

• Cost estimate (updates)


• Cost baseline (updates)


• Performance measurements


• Forecasted completion


• Requested changes


• Recommended corrective actions


• Organizational process assets (updates)


• Project management plan (updates)

A Project Management office (PMO) is an organizational unit to centralize and coordinate the management of projects under its domain. A PMO can also be reffered to as a "program management office", "Project office", or "Program office". A PMO oversees the management of projects, programs, or a combination of both.

PMOs can operate on a continuum, from providing project management support functions in the form of training, software, standardized policies, and procedures, to actual direct management and responsibility for achieving the project objectives.

Answers A, B and D all result from effectively integrating the work of the project management process groups. PMBOK [4.0]

Project Management is the application of Knowledge, skills, tools and techniques to project activities to meet project requirements. Project Management is accomplished through the application and integraton of the project management processes of  initiating, planning, executing, monitoring and controlling , closing.

Answer A is incorrect because it pertains to the processes. Answer C is incorrect because these are the five phases of a project. Answer D is incorrect because there are 39 processes, not knowledge areas.

Life Cycle costing includes the costs from each phase of the project life cycle when the total investment costs are calculated. Answer A is incorrect because an opportunity cost is the difference between a chosen investment and the one that is passed up. Answer B is incorrect because sunk costs are costs that have been incurred and cannot be reversed. Answer C is incorrect because net present value (NPV) is the present value of cash inflows(benifits) minus the present value of cash outflows (costs).

I. Inputs

• Procurement management plan


• Contract management plan


• Contract documentation


• Contract closure procedure

II. Tools and Techniques

• Procurement audits


• Records management system

III. Outputs

• Closed contracts


• Organizational process assets (updates)

The processes in the controlling group are Verify Scope, Control Scope, Control Schedule, Control Costs, Perform Quality Control, Report Performance, Monitor and Control Risks, and Administer Procurements.