PMI-SP Exam Dumps

Fast tracking allows entire phases of the project to overlap and this action does

increase risks. This is an approach that you would want to

avoid in your project.

Answer option B is incorrect. Crashing adds labor to the project and typically drives project costs.

Answer option A is incorrect. The critical chain method considers the availability of project resources

as part of its network diagramming

technique.

Answer option C is incorrect. Lead time allows project activities to overlap and may introduce

project risks, but not to the extent of using fast

tracking.

The risk owner is the individual on the project team that is closest to the risk event. The risk owner

can be an individual or an organization

responsible for implementing risk responses or contingency plan. The risk owner should be

empowered with the ability to respond to the risk

as it was planned.

Answer option B is incorrect. Harry is the project manager and likely would not be the risk owner as

well.

Answer option C is incorrect. The project sponsor authorizes the project but does not participate in

execution of the project.

Answer option D is incorrect. While a subject matter expert may be the risk owner on some

occasions, he would not be the risk owner on

every occasion.

This is an example of a weighting system as the values you're measuring are weighted towards

experience.

Answer option B is incorrect. A preferred vendors list describes the vendors you're allowed to

choose from in the organization.

Answer option A is incorrect. A screening system sets qualifiers in place, such as the vendor must

have a PMP on staff, in order to qualify for

the project.

Answer option C is incorrect. The benefits-cost analysis defines the total number of benefits to the

number of costs the project requires. .

PERT, which means the Program Evaluation and Review Technique, is a duration estimating

technique that uses the formula (O+(4M)+P)/6 for

the optimistic, most likely, and pessimistic values for each work package.

A PERT chart is a project management tool used to schedule, organize, and coordinate tasks within a

project. PERT stands for Program

Evaluation Review Technique, a methodology developed by the U.S. Navy in the 1950s to manage

the Polaris submarine missile program. A

PERT chart presents a graphic illustration of a project as a network diagram consisting of numbered

nodes (either circles or rectangles)

representing events, or milestones in the project linked by labeled vectors (directional lines)

representing tasks in the project. The direction of

the arrows on the lines indicates the sequence of tasks.

Answer option C is incorrect. This is the formula for the three-point estimate.

Answer options A and B are incorrect. These are not the valid formulas.

Lag time is positive time that requires the successor activity to wait for a defined

amount of time, such as three days, before it can begin. Lag

time does not change the task relationship, but requires a 'waiting time' before the starting of the

activity can begin.

A lag time is a delay between the predecessor and the successor tasks. Sometimes it may be needed

to schedule a delay between the

predecessor and the successor tasks. For example, if two coats of paint are required to paint a car,

then the final coat should be applied only

when the first coat dries. This delay is known as the lag time. The lag time is entered as a positive

value. The lag time can be entered as a

duration or as a percentage of the predecessor's task duration. It is entered on the Predecessor tab

in the Task Information dialog box.

Answer option D is incorrect. Float is a natural event that is discovered through the forward pass

when using the critical path method. Float

cannot be arbitrarily added as lag.

Answer option C is incorrect. Lead time actually brings activities closer together and causes them, in

some cases, to overlap.

Answer option B is incorrect. Management reserve is a pool of time allotted for unscheduled

changes and events that affect the project

duration.