APM Project Management Qualification (PMQ) - APM-PMQ Exam Practice Test
Identify one of the five steps of a benefits management plan and state one action you would take to apply it to ensure the successful realization of project benefits.
Correct Answer:
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Explanation:
Benefit:Benefits Realization Tracking.Action:Regularly monitor key performance indicators (KPIs) to ensure the project is delivering the expected outcomes.
Detailed Explanation:
Explanation:
Benefit:Benefits Realization Tracking.Action:Regularly monitor key performance indicators (KPIs) to ensure the project is delivering the expected outcomes.
Detailed Explanation:
You are a project manager taking over a project that's in the definition phase. The project sponsor asks you to prepare for an upcoming budget review as they have concerns regarding the lack of cost control shown by the project to date.
Which of the following actions would best improve the project sponsor's confidence in how you will control costs?
Which of the following actions would best improve the project sponsor's confidence in how you will control costs?
Correct Answer: A
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Which of the following are not typical responses to risks?
* Complete root cause analysis to understand why the situation has occurred.
* Reduce the probability of the threat occurring or the impact on the project.
* Change objectives or practices to change the cause of the threat so it can no longer occur.
* There are no acceptable or viable approaches to take to avoid or reduce, so the threat and any residual risk must be managed.
* Prepare a risk management plan to document the risk and give it to your sponsor.
* Pass the responsibility for bearing the impact of the threat from one party to another.
* Complete root cause analysis to understand why the situation has occurred.
* Reduce the probability of the threat occurring or the impact on the project.
* Change objectives or practices to change the cause of the threat so it can no longer occur.
* There are no acceptable or viable approaches to take to avoid or reduce, so the threat and any residual risk must be managed.
* Prepare a risk management plan to document the risk and give it to your sponsor.
* Pass the responsibility for bearing the impact of the threat from one party to another.
Correct Answer: B
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Why should a project professional complete continuing professional development (CPD)?
Correct Answer: D
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What are two benefits of governance in risk and issue management?
Correct Answer:
See the Explanation solutions in detail:
Explanation:
Detailed Explanation:
* Improved Decision-Making:
* Governance ensures a structured approach to identifying, assessing, and mitigating risks and issues.
* With standardized frameworks and processes in place, decision-makers have reliable data to make informed and timely decisions.
* For example, using a centralized risk register ensures all risks are visible, allowing for prioritization based on impact and probability.
* Accountability and Oversight:
* Governance establishes clear roles and responsibilities for managing risks and issues.
* This fosters transparency and ensures that risks and issues are addressed by the appropriate individuals or teams within the project.
* It also enables effective monitoring and reporting, ensuring that all stakeholders are aware of potential threats and mitigation plans.
Explanation:
Detailed Explanation:
* Improved Decision-Making:
* Governance ensures a structured approach to identifying, assessing, and mitigating risks and issues.
* With standardized frameworks and processes in place, decision-makers have reliable data to make informed and timely decisions.
* For example, using a centralized risk register ensures all risks are visible, allowing for prioritization based on impact and probability.
* Accountability and Oversight:
* Governance establishes clear roles and responsibilities for managing risks and issues.
* This fosters transparency and ensures that risks and issues are addressed by the appropriate individuals or teams within the project.
* It also enables effective monitoring and reporting, ensuring that all stakeholders are aware of potential threats and mitigation plans.