PMI-SP Premium Exam Questions

The change management system comprises several components that guide the change request through the process. When a change request is made, it will affect the project scope. The Configuration Management System evaluates the change request, and documents the features and functions of the change on the project scope. What is Configuration Management System? Configuration Management System is a subsystem of the overall project management system. It is a collection of formal documented procedures used to identify and document the functional and physical characteristics of a product, result, service, or component of the project. It also controls any changes to such characteristics, and records and reports each change and its implementation status. It includes the documentation, tracking systems, and defined approval levels necessary for authorizing and controlling changes. Audits are performed as part of configuration management to determine if the requirements have been met.

Answer option D is incorrect. Integrated Change Control, part of the change control system, does not document changes to the features and functions of the project scope. It evaluates the change's impact on eight knowledge areas: scope, time, cost, quality, human resources, communication, risk, and procurement. What is Perform Integrated Change Control? Perform Integrated Change Control is the process of reviewing all change requests, approving changes, and controlling changes to the deliverables and organizational process assets in a project. Perform Integrated Change Control has to do with influencing the things that cause change, determining that the change is required or has happened, and managing the change.

Answer option A is incorrect. Verify scope is a process of formalizing acceptance of the completed project deliverables. It is an inspection- driven process the stakeholders will complete to inspect the project scope deliverables. It is typically performed at the end of the phase and at the end of the project.

Answer option C is incorrect. The Project Management Information System (PMIS) is an information system consisting of the tools and techniques used to gather, integrate, and disseminate the outputs of project management processes. It is used to support all aspects of the project from initiating through closing, and can include both manual and automated systems. It is the parent of the change control process. It is a system that includes all of the change control processes for scope, time, cost, and procurement. Configuration management is part of the PMIS.

The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BAC. Planned value is the percentage of where the project should be at this time multiplied by the BAC. In this example, EV = 40% of BAC = 260,000, and PV = 50% of BAC = 325,000 SV = 260,000 - 325,000 = -65,000

Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula:

SV = Earned Value (EV) - Planned Value (PV)

If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

Answer options B, C, and A are incorrect. These are not valid calculations of the schedule variance.

Project document updates are not an output of the Define Activities process. Project document updates are the outputs for estimate activity resources. Project document updates include the following:

Activity list

Activity attributes

Resource calendars

Answer option A is incorrect. The activity list is an output of the define activities process.

Answer option C is incorrect. The activity attributes is an output of the define activities process.

Answer option B is incorrect. The milestone list is an output of the define activities process.

There is positive variance of $122,845 on Fred's project. Variances can be either positive or negative. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

Answer option C is incorrect. This is the project's variance at completion.

Answer option D is incorrect. This is the cost variance for the project.

Answer option A is incorrect. This is not a valid answer for the project.