PROJECT MANAGEMENT MODULE (IFMA FMP) EXAM LATEST 2024 ACTUAL EXAM 80 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+

PROJECT MANAGEMENT MODULE (IFMA FMP)

EXAM LATEST 2024 ACTUAL EXAM 80 QUESTIONS

AND CORRECT DETAILED ANSWERS WITH

RATIONALES (VERIFIED ANSWERS) |ALREADY

GRADED A+

Which pre-project actions reduce risk and increase the

probability of project success? The correct answer is: Preselect contractors

If an organization has narrowed the list of contractors submitting

proposals but is still having trouble deciding between them,

what could help? The correct answer is: Bidder presentations

Which statement is true of the Execute, Monitor and Control

phases of the project model? The correct answer is: These

phases are often concurrently or iteratively performed.

When project managers determine the level of data to collect for

monitoring and controlling project work, what do they not need

to verify?The correct answer is: Project work delays due to data

collection are scheduled.

What do project managers submit when they suggest revising

the project management plan to make it feasible given the

current situation? The correct answer is: change order.

What is developed to review a final deliverable from an entire

system perspective? The correct answer is: Checklist

reviews

Which statement is true about the documentation for project

closure? The correct answer is: Documentation may include

operations and maintenance manuals.

A project manager wants to minimize risk and provide some

independent checks and balances on contractor work. Which

contract model should the organization use? Construction

management Your answer is correct.

Construction management is the best choice because it uses

an independent consultant to supervise separate contracts

with design firms and construction firms, which allows for

some independent review. (Reference: 3-2-10)

According to the critical path method (CPM) of scheduling,

what is the critical path for any project?the longest set of

sequential tasks in the project. Your answer is correct.

The critical path is the longest set of sequential tasks in a

project and indicates the shortest possible project duration.

The critical path is determined using forward pass

scheduling followed by backward pass

scheduling.(Reference: 3-2-3)

Why does a budget need to be closely integrated with the project

schedule?costs are allocated to the period in which they occur.

Your answer is correct.

Development of the budget requires close integration with

the project schedule because costs are allocated to the period

in which the costs are incurred. Similarly, budget constraints

can require changes to the project schedule such as

completing a task more quickly to minimize financing costs.

Budgets are produced after schedules. Estimates for costs

are made during planning rather than waiting until

later.(Reference: 3-2-5)

Which scheduling methods are for activities NOT concurrently

performed? Traditional waterfall model scheduling Your

answer is correct.