Which tool or technique is required in order to determine the project budget?

• A.Cost of quality
• B.Historical relationships
• C.Project management software
• D.Forecasting

Correct Answer: B

Section: Volume B
Explanation:
7.3.2.4 Historical Relationships
Any historical relationships that result in parametric estimates or analogous estimates involve the use of project characteristics (parameters) to develop mathematical models to predict total project costs. Such models may be simple (e.g., residential home construction is based on a certain cost per square foot of space) or complex (e.g., one model of software development costing uses multiple separate adjustment factors, each of which has numerous points within it).
Both the cost and accuracy of analogous and parametric models can vary widely. They are most likely to be reliable when:
Historical information used to develop the model is accurate,

Parameters used in the model are readily quantifable, and

Models are scalable, such that they work for large projects, small projects, and phases of a project.

Process: 7.3 Determine Budget
Definition: The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.
Key Benefit: The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled.
Inputs
1. Cost management plan
2. Scope baseline
3. Activity cost estimates
4. Basis of estimates
5. Project schedule
6. Resource calendars
7. Risk register
8. Agreements
9. Organizational process assets
Tools & Techniques
1. Cost aggregation
2. Reserve analysis
3. Expert judgment
4. Historical relationships
5. Funding limit reconciliation
Outputs
1. Cost baseline
2. Project funding requirements
3. Project documents updates

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Specification of both the deliverables and the processes is the focus of:

• A.Change control
• B.Configuration control
• C.Project monitoring and control
• D.Issue control

Correct Answer: B

Section: Volume B
Explanation:
Configuration control is focused on the specification of both the deliverables and the processes; while change control is focused on identifying, documenting, and approving or rejecting changes to the project documents, deliverables, or baselines.
Some of the configuration management activities included in the Perform Integrated Change Control process are as follows:
Configuration identification. Identification and selection of a configuration item to provide the basis for

which the product configuration is defined and verified, products and documents are labeled, changes are managed, and accountability is maintained.
Configuration status accounting. Information is recorded and reported as to when appropriate data about

the configuration item should be provided. This information includes a listing of approved configuration identification, status of proposed changes to the configuration, and the implementation status of approved changes.
Configuration verification and audit. Configuration verification and configuration audits ensure the

composition of a project's configuration items is correct and that corresponding changes are registered, assessed, approved, tracked, and correctly implemented. This ensures the functional requirements defined in the configuration documentation have been met.

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What is project management?

• A.A formal, approved document that defines how the project is executed, monitored, and controlled
• B.Launching a process that can result in the authorization of a new project
• C.Applying knowledge, skills, tools, and techniques to project activities to meet the project requirements
• D.A logical grouping of project management inputs, outputs, tools, and techniques

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Which stakeholder communicates with higher levels of management to gather organizational support and promote project benefits?

• A.Portfolio manager
• B.Project sponsor
• C.Project manager
• D.Project management office

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Which Define Activities tool or technique is used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts?

• A.Decomposition
• B.Inspection
• C.Project analysis
• D.Document analysis

Correct Answer: A

Section: Volume B
Explanation:
5.4.2.1 Decomposition
Decomposition is a technique used for dividing and subdividing the project scope and project deliverables into smaller, more manageable parts. The work package is the work defined at the lowest level of the WBS for which cost and duration can be estimated and managed. The level of decomposition is often guided by the degree of control needed to effectively manage the project. The level of detail for work packages will vary with the size and complexity of the project. Decomposition of the total project work into work packages generally involves the following activities:
Identifying and analyzing the deliverables and related work;

Structuring and organizing the WBS;

Decomposing the upper WBS levels into lower-level detailed components;

Developing and assigning identification codes to the WBS components; and

Verifying that the degree of decomposition of the deliverables is appropriate.

Process: 6.2 Define Activities
Definition: The process of identifying and documenting the specific actions to be performed to produce the project deliverables.
Key Benefit: The key benefit of this process is to break down work packages into activities that provide a basis for estimating, scheduling, executing, monitoring, and controlling the project work.
Inputs
1. Schedule management plan
2. Scope baseline
3. Enterprise environmental factors
4. Organizational process assets
Tools & Techniques
1. Decomposition
2. Rolling wave planning
3. Expert judgment
Outputs
1. Activity list
2. Activity attributes
3. Milestone list

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