Free CAPM® Exam Sample Question

Free CAPM® Exam Sample QuestionThe difference between analogous and parametric estimating is:

A. Analogous estimating uses historical information while parametric estimating is based on expert judgment.
B. Analogous estimating uses historical information while parametric estimating is based on three-point estimating.
C. Analogous estimating uses three estimates to define an activity's cost while parametric estimating uses historical information.
D. Analogous estimating is generally less accurate than parametric estimating.

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HINT: Parametric estimating is analogous estimating with considering other variables that reflect the difference between the project and previous ones.
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All our questions are updated to the latest A Guide to the Project Management Body of Knowledge (PMBOK® Guide) standard. Stop by at http://free.pm-exam-simulator.com/ and try the PM Exam Simulator free for 7 days. We are a Project Management Institute (PMI)® Registered Education Provider.

Answer and Explanation:
The correct answer is D.

Analogous and parametric are two popular cost estimation methods that are mainly based on historical data from previous projects. While analogous estimating uses the values such as cost, budget, and scope from previous projects as a basis for estimating the same parameters of a current project, parametric estimating often combines such information with other variables or other project parameters to calculate the values. Thus, parametric estimating provides a more accurate result, compared with the analogous method.

Details for each option:

A. Analogous estimating uses historical information while parametric estimating is based on expert judgment.
Incorrect. Both analogous and parametric estimating are based on historical information and expert judgment.

B. Analogous estimating uses historical information while parametric estimating is based on three-point estimating.
Incorrect. While it is true that analogous estimating uses historical information, parametric estimating is distinct and not based on three-point estimating. Three-point estimating uses the average or weighted average of the optimistic, pessimistic, and most likely estimate, while parametric estimating is based on historical data and project parameters.

C. Analogous estimating uses three estimates to define an activity's cost while parametric estimating uses historical information.
Incorrect. Although parametric estimating is based on historical information, analogous estimating does not use three-point estimating results.

D. Analogous estimating is generally less accurate than parametric estimating.
Correct. While analogous estimating uses the historical data of previous projects, parametric estimating analyzes the statistical relationship between historical data and other variables to provide results that are more accurate.

Reference: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, Project Management Institute Inc., 2017, Page(s) 200-201

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Featured PMP® Exam Lessons Learned from Jason Yorek, PMP

Featured PMP® Exam Lessons Learned from Jason Yorek, PMPLessons learned towards becoming a Project Management Professional (PMP)® shared with us by PM PrepCast student Jason Yorek, PMP.

"Am very happy to say that I took the PMP® exam this morning and passed with flying colors. Here's what my journey looked like.....

5 months ago I signed up for PM PrepCast and watched about half of the videos. Some of the concepts made sense, but some weren't really "clicking", so I sort of ran out of steam and took a break for a couple months. I realized I needed to stay on track, otherwise, I'd never finish, so I finished the videos, took PrepCast's exam to earn the necessary 35 hours, and then applied to take the exam. I was audited and had to submit additional info before it was finally accepted (looking at forums, it seems that such an occurrence isn't uncommon). I then scheduled an exam date and spent about a month and a half REALLY studying. I read A Guide to the Project Management Body of Knowledge (PMBOK® Guide) once and then revisited PrepCast videos (downloaded in a podcast app) in the car on the way to work, in the gym while working out, etc..."

Read more here...

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Free PMP® Exam Sample Question

Free PMP® Exam Sample QuestionDuring an inspection of a project deliverable, the team detects the same defect in the deliverable that has already been identified during a previous inspection. The project manager is confused how this could have happened since a change request was approved to correct the defect. After discussing the issue with the team, the project manager learns that the team never implemented the approved change request. What could have helped prevent this situation?

A. Holding an approved change requests review
B. Conducting a retrospective meeting
C. Performing a root cause analysis
D. Creating a quality report

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HINT: What can be done to ensure that all approved change requests were implemented as specified?
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All our questions are updated to the latest A Guide to the Project Management Body of Knowledge (PMBOK® Guide) standard. Stop by at http://free.pm-exam-simulator.com/ and try the PM Exam Simulator free for 7 days. We are a Project Management Institute (PMI)® Registered Education Provider.

Answer and Explanation:
The correct answer is A.

Inspections carried out as part of the Control Quality process may uncover defects or areas of noncompliance with project requirements, which, in turn, may generate change requests. It is the responsibility of the project team to ensure that those approved change requests are implemented and properly tested, completed, and certified. In this scenario, the project manager learns that an approved change request was never implemented. Retrospectives, root cause analysis, and quality reports would not have prevented this issue but could be used to help the team avoid such a mistake in the future. An approved change request review would have provided the project manager and the team a mechanism for verifying that the approved change request was implemented and is, therefore, the best answer to the question asked.

Details for each option:

A. Holding an approved change requests review
Correct. One of the techniques used as part of the Control Quality process is meetings. A type of meeting known as an “approved change requests review” is for reviewing all approved change requests to verify that they were implemented as approved and properly tested, completed, and certified.

B. Conducting a retrospective meeting
Incorrect. Retrospectives are meetings held by a project team to discuss lessons learned, i.e., successful elements in the project/phase, what could have been improved, what to incorporate in the ongoing project and future projects, etc. A retrospective would not have prevented the issue described in the scenario from happening the first time.

C. Performing a root cause analysis
Incorrect. Root cause analysis is an analytical technique used to identify the source of defects. While this technique can be applied to identify flaws in processes, in the context of this question which describes the Control Quality process, root cause analysis is concerned with the defects in the project deliverables rather than in the project management processes.

D. Creating a quality report
Incorrect. Quality reports can be used to identify deliverables that are out of compliance. However, creating a quality report does not ensure that approved change requests will be implemented.

Reference: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, Project Management Institute Inc., 2017, Page(s) 305

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