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Question 811

Scope verification is PRIMARILY concerned with which of the following?

Correct Answer: A
Explanation/Reference:
Explanation:
Scope verification is not referenced by PMBOK v5
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Question 812

Which type of contract gives both the seller and the buyer flexibility to deviate from performance with financial incentives?

Correct Answer: B
Section: Volume A
Explanation:
Fixed Price Incentive Fee Contracts (FPIF). This fixed-price arrangement gives the buyer and seller some flexibility in that it allows for deviation from performance, with financial incentives tied to achieving agreed upon metrics. Typically such financial incentives are related to cost, schedule, or technical performance of the seller.
Performance targets are established at the outset, and the final contract price is determined after completion of all work based on the seller's performance. Under FPIF contracts, a price ceiling is set, and all costs above the price ceiling are the responsibility of the seller, who is obligated to complete the work.
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Question 813

An input to the Create WBS process is a:

Correct Answer: C
Explanation/Reference:
Explanation:
5.3.3.1 Project Scope Statement
The project scope statement is the description of the project scope, major deliverables, assumptions, and constraints. The project scope statement documents the entire scope, including project and product scope.
It describes, in detail, the project's deliverables and the work required to create those deliverables. It also provides a common understanding of the project scope among project stakeholders. It may contain explicit scope exclusions that can assist in managing stakeholder expectations. It enables the project team to perform more detailed planning, guides the project team's work during execution, and provides the baseline for evaluating whether requests for changes or additional work are contained within or outside the project's boundaries.
The degree and level of detail to which the project scope statement defines the work that will be performed and the work that is excluded can help determine how well the project management team can control the overall project scope. The detailed project scope statement, either directly, or by reference to other documents, includes the following:
Product scope description. Progressively elaborates the characteristics of the product, service, or result

described in the project charter and requirements documentation.
Acceptance criteria. A set of conditions that is required to be met before deliverables are accepted.

Deliverable. Any unique and verifiable product, result, or capability to perform a service that is required to

be produced to complete a process, phase, or project. Deliverables also include ancillary results, such as project management reports and documentation. These deliverables may be described at a summary level or in great detail.
Project exclusion. Generally identifies what is excluded from the project. Explicitly stating what is out of

scope for the project helps to manage stakeholders' expectations.
Constraints. A limiting factor that affects the execution of a project or process. Constraints identified with

the project scope statement list and describe the specific internal or external restrictions or limitations associated with the project scope that affect the execution of the project, for example, a predefined budget or any imposed dates or schedule milestones that are issued by the customer or performing organization.
When a project is performed under an agreement, contractual provisions will generally be constraints.
Information on constraints may be listed in the project scope statement or in a separate log.
Assumptions. A factor in the planning process that is considered to be true, real, or certain, without proof

or demonstration. Also describes the potential impact of those factors if they prove to be false. Project teams frequently identify, document, and validate assumptions as part of their planning process.
Information on assumptions may be listed in the project scope statement or in a separate log.
The project team must complete a scope statement for developing a common understanding of the project scope among stakeholders. This lists project deliverables - summary level sub-products, whose full and satisfactory delivery marks the completion of the project.
5.4 Create WBS
Definition: WBS is the process of subdividing project deliverables and project work into smaller, more manageable components. Key Benefit: The key benefit of this process is that it provides a structured vision of what has to be delivered.
Inputs
1. Scope management plan
2. Project scope statement
3. Requirements documentation
4. Enterprise environmental factors
5. Organizational process assets
Tools & Techniques
1. Decomposition
2. Expert judgment
Outputs
1. Scope baseline
2. Project documents updates
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Question 814

A project can be defined as a:

Correct Answer: A
Section: Volume E
Explanation:
1.2 What is a Project?
A project is a temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates that a project has a definite beginning and end. The end is reached when the project's objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists. A project may also be terminated if the client (customer, sponsor, or champion) wishes to terminate the project. Temporary does not necessarily mean the duration of the project is short. It refers to the project's engagement and its longevity. Temporary does not typically apply to the product, service, or result created by the project; most projects are undertaken to create a lasting outcome. For example, a project to build a national monument will create a result expected to last for centuries. Projects can also have social, economic, and environmental impacts that far outlive the projects themselves.
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Question 815

Which of the following is a set of interrelated actions and activities performed to achieve a prespecified product, result, or service?

Correct Answer: C
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