Eliminate Risk of Failure with PMI-SP Exam Dumps

The float for Activity I is three days. The early start for Activity I is Day 17 and the late start for

Activity I is Day 20. Therefore, the difference of

the early start and the late start reveals the float as three days. It is possible, and acceptable, to use

the difference of the early finish and the late finish to find the float, as the value will be the same

amount. Answer options B, D, and C are incorrect. These are not the valid calculation for the total

float.

The project's Communications Management Plan defines what information will be distributed, when

it will be distributed, to whom it will be

distributed, and the modality of the information.

Answer option D is incorrect. The Schedule Management Plan defines the project work, when the

project work will happen, resource

utilization, and how the schedule will be monitored and controlled.

Answer option C is incorrect. There is a stakeholder management strategy, but not a Stakeholder

Management Plan.

Answer option A is incorrect. The project's Scope Management Plan defines how the scope will be

created, how the changes will be allowed,

how the scope will be executed, monitored and controlled, and finally closed.

Beth, the project manager, is responsible for communication with all stakeholders. According to the

PMBOK, the project manager occupies the

center of the interactions between stakeholders and the project itself.

Answer option B is incorrect. Sarah may help with the communications, but she is not responsible

for the communications.

Answer option A is incorrect. Thomas, the project sponsor, just needs to be kept abreast of the

information.

Answer option C is incorrect. The project team leaders for the virtual sites are not responsible for

communicating with the project

stakeholders.

According to the question, you have to use the estimating technique that has a higher

degree of accuracy. The most accurate estimating

technique is bottom-up estimating.

What is bottom-up estimating?

Bottom-up is a cost estimating technique that involves estimating the cost of individual work

packages or schedule

activities with the lowest level of detail. The detailed cost is rolled up (or summarized) to higher

levels for total project

estimates. This summarized data is very useful for reporting and tracking purposes. Bottom-up

estimating provides a

higher degree of accuracy, provided the estimates at the work package level are accurate.

Answer options C, A, and B are incorrect. Parametric modeling and analogous estimating techniques

use top-down estimation model. These

are less accurate than the bottom-up estimation.

What is analogous estimating?

Analogous is an estimating technique that uses the values of parameter, such as scope, cost, budget,

and duration or

measures of scale such as size, weight, and complexity from a previous, similar activity as the basis

for estimation of the

same parameter for a future activity. It is a top-down estimating technique and is a form of expert

judgment. It provides a

lower degree of accuracy than other estimating techniques. This technique is primarily used when

there is a limited amount

of detailed information about the project or program.

What is parametric modeling?

Parametric modeling is an estimating technique that uses parameters, or project characteristics, to

forecast project costs.

It involves a top-down approach and is similar but more accurate than analogous estimating. It uses

historical data and

other variables to calculate an estimate for activity parameters, such as scope, cost, budget, and

duration.

A schedule baseline provides a method to track project progress during project

execution against what was planned.

What is schedule baseline?

Schedule baseline is a project schedule used in measuring project progress. It helps provide a

comparison with the actual

progress of work against the schedule and to determine if performance to date is within acceptable

parameters. Any

change caused by change in scope of the project invalidates the original schedule and requires a new

baseline schedule.

Answer options D, A, and B are incorrect. A detailed project budget, team members profile, and

benefit-cost ratio will not help you track

project progress.

What is BCR?

A benefit-cost ratio (BCR) is an indicator, used in the formal discipline of cost-benefit analysis, that

attempts to summarize

the overall value for money of a project or proposal. A BCR is the ratio of the benefits of a project or

proposal, expressed in

monetary terms, relative to its costs, also expressed in monetary terms. All benefits and costs should

be expressed in

discounted present values. For e.g., a BCR of $3.8 indicates a payback of $3.8 for each dollar

expended.