Thursday, January 14, 2016

PMP Exam Questions and Answers - FREE

By With 16 comments:
Here, you will find a list of mock PMP exam questions that are designed to represent the actual PMP exam questions as closely as possible. These free mock PMP exam questions are framed based on my personal experience in appearing for the PMP exam and the PMI-RMP exam.

The real PMP exam questions are not easier; but the more you practice, it would be better for you to face the actual PMP exam questions with ease at the exam.

Mock PMP Exam Questions

1. You are the project manager for a software project. You are in the process of establishing the policies, procedures and documentation for planning, developing, managing, executing and controlling the project schedule. You may use all of the following Tools & Techniques EXCEPT:

(A) Expert judgment
(B) Meetings
(C) Decomposition
(D) Analytical techniques

2. The following are all examples of Organizational Process Assets EXCEPT:

(A) Historical information
(B) Organizational structure
(C) Templates
(D) Change control procedures

3. You are the project manager of a $400 million construction project. You, along with your team, have identified and documented the specific actions to be performed to produce the project deliverables. What would be your immediate next action be?:

(A) Develop Schedule
(B) Collect Requirements
(C) Sequence Activities
(D) Select Sellers

4. Your project involves the construction of a temporary concrete road. The road is expected to be in use for 6 months before it gets demolished. You have completed the laying of the temporary concrete road. But, the customer specification states that you have to wait for 28 days before using the road. Which of the following relationships most likely represents the relationship of the start of the use of the road to the completion of the construction of the road?

(A) Finish-to-start with a 28 days lead
(B) Finish-to-finish with a 6 months lag
(C) Finish-to-start with a 28 days lag
(D) Start-to-finish with a 28 days lag

5. You are in the planning process of a $1b project. You realize that your schedule requires more resources in certain months of the project than that are available to you. Your senior management has clearly instructed that you will not be able to obtain any additional resources for the project. So, you instruct your planner to adjust the schedule to accommodate these constraints. What are you instructing the planner to do?

(A) Crashing
(B) Resource leveling
(C) Programme Evaluation and Review Technique
(D) Fast tracking


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6. Projects are a means of achieving objectives within an organization's strategic plan. Which of the following statements is NOT true about projects?

(A) Every project creates a unique product, service or result
(B) The duration of the project is short
(C) Repetitive elements may be present in some project deliverables and activities
(D) A project can involve a single individual

7. The project charter contains high level information. Which of the following elements is NOT typically found in a project charter?

(A) Project purpose or justification
(B) Summary milestone schedule
(C) Work packages
(D) Stakeholder list

8. The key benefit of performing quantitative risk analysis is that it produces quantitative risk information to support decision making in order to reduce project uncertainty. Which of the following is NOT a commonly used quantitative risk anlaysis and modeling technique?

(A) Tornado diagram
(B) Decision tree diagram
(C) Monte Carlo Technique
(D) Delphi Technique

9. An organization invests certain amount of money into a project and makes $48,400 after 2 years. If the rate of return is 10%, how much money did the organization invest in the project?

(A) $44,000
(B) $40,000
(C) $47921
(D) $47446

10. An organization is trying to choose between two projects. Project A has an estimated cost of $400,000 and an estimated NPV of $90,000. Another project B has an estimated cost of $360,000 and an estimated NPV of $110,000. If the senior management decides to go ahead with project B, what would be the opportunity cost?

(A) $40,000
(B) $20,000
(C) $90,000
(D) $110,000

Answers to the above questions are available at:

Conclusion

I am confident that you would find the above questions helpful in your PMP exam Prep. The answers and detailed explanations with references for the above PMP exam questions would be uploaded soon. I would also update this list with more questions. IF you have any comment/ suggestions/ feedback on the above PMP exam questions, you may leave your comment below.

Tuesday, January 12, 2016

Answer Key for Oliver Lehmann PMP Exam

By With 5 comments:
Oliver F. Lehmann is one of the well known project management trainers. Being a trainer since 1995, he primarily focusses on PMP certification preparation. His 75 free sample questions (PMP® Exam Self-Assessment Test) is very popular. If you have not tried the test yet, please STOP reading this article.

He has given the answers and relevant references for all the 75 questions. He has not given any answer explanations, probably to encourage candidates to research themselves. I do encourage you to think and do a research before reading further on.

Question No. 2 from Oliver Lehmann PMP Exam Self Assessment Test

I took question #2 from the sample test to solve here. Read further only if you have failed to solve yourself and really need a guidance.

Answer Key for Oliver Lehmann PMP Exam Question No. 2
Source: http://www.oliverlehmann.com/pmp-self-test/75-free-questions.htm

Answer Key for Oliver Lehmann PMP Exam Question No. 2

There are two projects in the question. We need to choose the project with a better returns based on the Net Present Value (NPV). The below table shows the given data.

Project #DurationCostReturns
19 months$250,000$120,000/ year
29 months$250,0001st year: $15,000
2nd year: $125,000
3rd year: $220,000

Since the cost and duration are the same for both projects, let us ignore those data; we will look into the returns/ benefits of the project only to compare.

Net Present Value (NPV) = FV/(1+r)t, where
FV = Future Value
r = rate of interest
t = time period

So, the NPV of project 1 considering first three years
= 120000 / 1.05 + 120000 / 1.052 + 120000 / 1.053
= $326790

NPV of project 2 considering first three years
= 15000 / 1.05 + 125000 / 1.052 + 220000 / 1.053
= $317709

Comparing the two values, project #1 is better. By, what percentage?
= (326790-317709) / 317709
= 0.029
= 2.90% (approximately 3%)

So, the first project is more attractive by approximately 3%.

Conclusion

Hope the above explanation helps. If you need any further information/ help regarding this question, please leave a comment below.