Free PMP Exam Sample Question
The following PMP® exam sample question is taken from the Free PMP Exam Simulator:
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You are the project manager for a large telecommunications project in Kenya, which has an unstable economy. You cannot use common financial techniques to predict the future costs of materials but you are required to provide an estimate for each work package now so that the budget can be developed and approved. What technique you can rely on to help you in this situation?
A.) Expert Judgment
B.) Reserve Analysis
C.) Parametric Estimating
D.) Analogous Estimating
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Hint: You have not executed any projects in Kenya and you have no idea what future project costs may be.
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ANSWER AND EXPLANATION:
The correct answer is B
Explanation: Expert Judgment, Parametric Estimating, and Analogous Estimating will not help you in this situation of high uncertainty. To accommodate the risk created by uncertainty, you must build reserves into your estimates using Reserve Analysis.
Reference: PMBOK® Guide 4th Edition, page 173