PMP Exam Dumps - Project Management Professional (PMBOK 7th Version)

To answer this question, we need to calculate the earned value (EV), the planned value (PV), and the actual cost (AC) of the project based on the given information. Then, we can compare them to determine the project status in terms of schedule and cost performance.

The earned value (EV) is the monetary value of the work completed so far. It can be calculated by multiplying the percent complete of the project by the budget at completion (BAC), which is the total approved budget for the project. The BAC can be obtained by adding the approved work package cost estimates, the contingency reserves, and the management reserves. In this case, the BAC is:

BAC=9500+500+(10%×500)=10550

The EV is then:

EV=50%×10550=5275

The planned value (PV) is the monetary value of the work that was planned to be completed by a certain date. It can be calculated by multiplying the planned percent of the project by the BAC. In this case, the PV is:

PV=40%×10550=4220

The actual cost (AC) is the monetary value of the work actually performed. It is given as:

AC=4500

To determine the project status, we can use the cost variance (CV) and the schedule variance (SV) formulas. The CV is the difference between the EV and the AC, and it indicates whether the project is under budget or over budget. A positive CV means the project is under budget, while a negative CV means the project is over budget. The CV is:

CV=EV−AC=5275−4500=775

The SV is the difference between the EV and the PV, and it indicates whether the project is ahead of schedule or behind schedule. A positive SV means the project is ahead of schedule, while a negative SV means the project is behind schedule. The SV is:

SV=EV−PV=5275−4220=1055

From the CV and SV values, we can conclude that the project is under budget and ahead of schedule. To find the percentage of deviation from the planned cost and schedule, we can use the cost performance index (CPI) and the schedule performance index (SPI) formulas. The CPI is the ratio of the EV to the AC, and it measures the cost efficiency of the project. A CPI greater than 1 means the project is under budget, while a CPI less than 1 means the project is over budget. The CPI is:

CPI=ACEV​=45005275​=1.17

The SPI is the ratio of the EV to the PV, and it measures the schedule efficiency of the project. A SPI greater than 1 means the project is ahead of schedule, while a SPI less than 1 means the project is behind schedule. The SPI is:

SPI=PVEV​=42205275​=1.25

From the CPI and SPI values, we can calculate the percentage of deviation from the planned cost and schedule by subtracting 1 and multiplying by 100. The percentage of deviation from the planned cost is:

(CPI−1)×100=(1.17−1)×100=17%

The percentage of deviation from the planned schedule is:

(SPI−1)×100=(1.25−1)×100=25%

Therefore, the project cost is 17% lower than planned, and the project schedule is 25% ahead of planned. Among the given options, the closest one is B. The project cost is 10% lower than planned.

The project manager should use Monitor Communications techniques to ensure that the communication needs of the project and its stakeholders are met. This involves collecting and analyzing feedback from stakeholders, reviewing the effectiveness and quality of the communication activities, and identifying and resolving communication issues. By doing so, the project manager may discover the reasons why some stakeholders are not fully comprehending the status of the project based on the reports that are being circulated, and may initiate changes to the communications management plan to address them. For example, the project manager may decide to use a different report format, frequency, or distribution method that suits the needs and preferences of the new stakeholders. Adding the issue to the issue log and determining the corrective action (option A) is a possible outcome of Monitor Communications, but not the best answer. Creating a fishbone diagram to determine the root cause for the misunderstanding (option B) is a tool that can be used in Monitor Communications, but not the only one. Sharing the communications management plan and reminding all stakeholders of the agreed-upon reporting templates (option D) is not likely to solve the problem, as it may imply that the new stakeholders are at fault for not understanding the reports, rather than acknowledging that the communication needs may have changed. References:

PMBOK Guide, 6th edition, page 386-387, section 10.2 Manage Communications

PMP Exam Prep, 10th edition, page 415, question 415, answer and explanation

According to the PMBOK Guide, the project manager should use a collaborative or problem-solving approach to handle conflicts, as it results in a win-win situation and enhances the project performance1. The project manager should also communicate with the team members and involve them in the decision-making process, as it fosters trust and commitment2. Therefore, the best option is to meet the team member and try to plan a course of action together. Option A is incorrect because guiding the team member on how to resolve the conflict may not address the root cause of the conflict or the impact on the project schedule. Option B is incorrect because analyzing the project schedule and looking for alternatives may not consider the team member’s perspective or input. Option C is incorrect because performing crashing and/or fast tracking of the schedule may not resolve the conflict or may introduce new risks or issues to the project. References: 1: PMBOK Guide, 6th edition, section 9.5.2.1, p. 363 2: PMBOK Guide, 6th edition, section 9.4.2.3, p. 356

The project manager plays the role of a mediator in this situation, as this is part of managing stakeholder engagement. Managing stakeholder engagement involves communicating and working with stakeholders to meet their needs and expectations, address issues, and foster appropriate stakeholder involvement. By scheduling a meeting with the two stakeholders, the project manager acts as a neutral third party who facilitates the discussion and helps them reach a mutually acceptable solution. The other options are not the best ways to describe the project manager’s role, as they either imply a biased, authoritative, or passive approach to conflict resolution. References: (Professional in Business Analysis Reference Materials source and documents)

PMBOK Guide, 6th edition, Chapter 13, Section 13.3.2.4

PMP Exam Content Outline, June 2019, Domain II, Task 9

PMP Sample Test Questions, Question 393

The project manager should review the communications management plan and submit a change request if required. The communications management plan is a document that describes how the project information will be communicated to the stakeholders. It defines the communication requirements, methods, formats, frequency, and responsibilities for each stakeholder group. The project manager should review the communications management plan to understand the current communication expectations and agreements, and to identify any gaps or conflicts between the sponsor’s request and the key team members’ preferences. If the communications management plan needs to be updated to accommodate the sponsor’s request, the project manager should submit a change request and follow the change control process. Negotiating with the key team members to send a daily report and letting the sponsor know that the project cost will increase (option A) may be a possible solution, but it should be done after reviewing the communications management plan and submitting a change request if required. Recommending to the sponsor that performance of the project be reviewed once per week (option B) may not satisfy the sponsor’s needs and expectations, and may also contradict the communications management plan. Evaluating the capacity of each team member to attend daily meetings in person or virtually and reducing the time of each meeting (option D) may be a good practice, but it should also be done after reviewing the communications management plan and submitting a change request if required. References:

PMBOK Guide, 6th edition, page 377-378, section 10.1 Plan Communications Management

PMP Exam Prep, 10th edition, page 474, question 474, answer and explanation

A hybrid approach to project management combines predictive and adaptive methods, such as waterfall and agile, to suit the needs and context of the project. In this case, the project manager can use an agile approach to plan project A in sprints, which are short iterations that deliver incremental value to the customer. By starting with the module that does not require machine learning skills, the project manager can leverage the existing resources and skills of the team, while waiting for the machine learning expert to finish project B. This way, the project manager can avoid delaying project A, compromising project B, or hiring a new resource that may not fit the organizational culture or project requirements. This is consistent with the PMI-PBA practice of planning and monitoring the business analysis work and the PMP practice of executing the project with urgency. References:

PMBOK Guide, 6th edition, page 14, section 1.2.1

Agile Practice Guide, page 8, section 1.2.2

PMI-PBA Exam Content Outline, page 9, task 1.2

PMI-PBA Certification Exam Prep Guide, page 65, section 3.2.2

PMP Exam Content Outline, page 7, task 2.1

PMP Exam Prep, 10th edition, page 32, section 1.4.2

According to the PMBOK Guide, a retrospective meeting is a process of reviewing and analyzing the past performance of a project team, especially in an agile or hybrid environment. The purpose of the retrospective meeting is to identify the strengths and weaknesses of the team, the lessons learned, and the improvement actions for the future. The project manager should facilitate the retrospective meeting and encourage the team to share their feedback, opinions, and suggestions. If the project team’s performance has declined for the last three iterations, the project manager should focus on remediation not merely on correcting symptoms. This means that the project manager should help the team to find the root causes of the performance issues, and implement effective solutions that address the underlying problems, not just the superficial symptoms. For example, if the team is facing communication challenges, the project manager should not just provide more communication tools, but also improve the communication processes, protocols, and skills of the team. Focusing on remediation not merely on correcting symptoms will help the team to improve their performance and prevent recurrence of the same issues. Comparing the team’s performance against other project teams is not a good option, as it may demoralize the team, create unhealthy competition, and ignore the unique context and challenges of each project. Identifying potential failure points based on the iteration workload is a useful technique, but it is not enough to improve the team’s performance. The project manager should also analyze the actual failure points and the reasons behind them, and take corrective and preventive actions accordingly. Motivating the team to perform better is a desirable outcome, but it is not a specific action that the project manager should do. The project manager should use various motivational techniques, such as recognition, rewards, empowerment, and feedback, to inspire the team and enhance their morale and engagement. References: PMBOK Guide, 6th edition, pages 18-19, 686-687, 723-724.

 The new project manager should encourage participation in decision making and empower the team to improve their motivation and engagement. This is a key aspect of managing human resources in a project, as it fosters trust, collaboration, and ownership among the team members. The project manager should also communicate the project vision, goals, and expectations clearly and regularly to align the team and provide feedback and recognition. These actions can help the project manager to build a high-performing team and enhance the project performance.

The other options are not the best choices for the new project manager. Ensuring everyone performs their assigned tasks as planned may not address the root cause of the team’s lack of direction and enthusiasm. It may also imply a micromanagement style that can demoralize the team further. Organizing frequent team building sessions and updating the risk register are good practices, but they are not sufficient to improve the team’s morale and commitment. They should be complemented by other actions that involve and empower the team. Meeting with the project sponsor and proposing a corrective action for the project may be necessary if the project is facing serious issues, but it does not directly address the team’s situation. The project manager should first try to understand and resolve the team’s concerns before escalating them to the sponsor. References:

PMBOK® Guide, 6th Edition, Chapter 9, Section 9.4, “Manage Project Team”

PMBOK® Guide, 6th Edition, Chapter 9, Section 9.4.2.3, “Interpersonal and Team Skills”

PMP Project Management Professional Exam Study Guide: 2021 Exam Update, 10th Edition, Chapter 8, Section 8.3, “Managing Resources” 1