PMP Business Environment

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Question 1 of 21

1. Question
Which of the following are financial-based benefit measurement methods?

(Choose 3)
- Net present value (NPV)
- Internal rate of return (IRR)
- Return on investment (ROI)
- Opportunity cost (OPC)
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Question 2 of 21

2. Question
Which of the following statements related to standards and regulations is not correct?
- A standard is a document approved by a recognized body. There can be multiple standards for one product.
- Regulations are mandatory but standards are not mandatory.
- Standards after widespread adoption may become de facto regulations.
- The influence of standards and regulations on a project is always known.
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Question 3 of 21

3. Question
The opportunity cost is defined as the value of a proposed project selected.

True or False?
- True
- False
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Question 4 of 21

4. Question
Which three of the following are essential for managing change in an organization?

(Choose three)
- Managing changes in an organization requires different strategies depending on the circumstances, people involved, and timing
- Change management is an essential capability and a significant professional practice in its own right
- It is important to have a robust theory and approach to change management to support the business goals, objectives, opportunities, and needs
- Establish a change control board to approve or reject proposed changes to a project’s scope, schedule, or cost
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Question 5 of 21

5. Question
A functional manager questions whether certain aspects of a project comply with the project’s goals. Which document should the project manager review to address the functional manager’s concern?
- Statement of work (SOW)
- Project charter
- Project management plan
- Project management information system (PMIS)
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Question 6 of 21

6. Question
Which of the following is a financial tool that calculates the present value of all cash outflows minus the present value of all cash inflows?
- Internal rate of return
- Net present value
- Benefit cost value
- Return on investment
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Question 7 of 21

7. Question
A chocolate manufacturing company discovers that one of its suppliers has violated an international law, engaging in prohibited labor practices to reduce costs. The company authorizes a project to correct the supply chain and address the negative publicity. The project manager has met with stakeholders and created a list of requirements.

Which two requirements should the project manager consider for this project? (Choose 2)
- Establish guidelines for new suppliers working with internal stakeholders in the procurement and legal departments.
- Create a campaign to reimagine the company’s public profile and social media.
- Conduct a cost-benefit analysis to identify how the company can maintain sustainability and still be profitable.
- Collaborate with the supplier to make the necessary changes to their labor source and continue with the current supplier.
- Take legal action against the vendor.
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Question 8 of 21

8. Question
Which of the following are practical guidelines for measuring project compliance?
- Tracking work completed in a Gantt chart
- Using quality assurance outputs to confirm deliverables and process compliance and identify the needs for corrective actions
- Prioritizing effort using a MoSCoW analysis
- Reporting progress by conducting a sprint review and demonstration
Correct

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Question 9 of 21

9. Question
A new regulation requires consumer warnings on labels, but a company’s product package is too small to fit the additional information. The regulatory specification does not provide a solution, so the agile team resolves the problem by displaying the information on a foldout flap. The start of mass production of the new labels, the project’s next milestone, is scheduled to begin in five days.

What should the agile team do next?
- Update the Sprint backlog to reflect the additional product initial requirements
- Contact the compliance team to determine the validity of the selected format
- Request approval from the steering committee to proceed with the change
- Develop a prototype and submit it to the label manufacturer for approval
Correct

Incorrect
Question 10 of 21

10. Question
A project team learns about a new compliance requirement from an international entity that may impact the project’s business case. They learn this right after completing the project charter and the project site sponsor has signed.

How should the project manager proceed?
- Research the requirement and possible consequences, then give the sponsor a recommendation
- Address the requirement by ignoring the issue, as this new announcement is not part of the project’s documented scope
- Ensure documenting the requirement in the risk register, then ask for further guidance from all stakeholders
- Update the new compliance requirement as a high-level risk to the project charter
Correct

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Question 11 of 21

11. Question
A project has the following characteristics:
- It is in the execution stage
- It requires immediate compliance
- A new corresponding law will impact the project scope, schedule, and cost.
What are three possible actions to ensure compliance? (Choose three
- Initiate avoidance of the risk
- Update the project management plan
- Escalate the issue to senior management
- Update the issue log
- Begin the change request process
Correct

Incorrect
Question 12 of 21

12. Question
Which three of the following are PESTLE factors? (Choose three)
- Legal
- Effectiveness
- Social
- Political
Correct

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Question 13 of 21

13. Question
Which three of the following are essential for managing change in an organization? (Choose three)
- Managing changes in an organization requires different strategies depending on the circumstances, people involved, and timing
- Change management is an essential capability and a significant professional practice in its own right
- c. It is important to have a robust theory and approach to change management to support the business goals, objectives, opportunities and needs
- Establish a change control board to approve or reject proposed changes to a project’s scope, schedule, or cost
Correct

Incorrect
Question 14 of 21

14. Question
Which of the following are practical guidelines for measuring project compliance?
- Tracking work completed in a Gantt chart
- Using quality assurance outputs to confirm deliverables and process compliance and identify the need for corrective actions
- Prioritizing effort using a MoSCoW analysis
- Reporting progress by conducting a sprint review and demonstration
Correct

Incorrect
Question 15 of 21

15. Question
In a large organization that utilizes a project management office (PMO), who is responsible for managing the governance of projects?
- The project managers of individual projects within the PMO
- The PMO
- The organization’s governance committee
- The organization’s change control board
Correct

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Question 16 of 21

16. Question
A company is losing market share to competitors with new business models. A cross-functional agile team was formed to recommend ways to recover market share.

How can the team increase their chance of producing successful recommendations?
- Gain a deep understanding of why customers are disappointed by the company’s products
- Focus on enabling profitable delivery of unique, high quality and innovative products
- Understand how the competitor’s business models can reach more consumers at a lower cost
- Focus on understanding the value consumers seek and the value competitors offer
Correct

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Question 17 of 21

17. Question
A project team learns about a new compliance requirement from an international entity that may impact the project’s business case. They learn this right after completing the project charter and the project site sponsor has signed.

How should the project manager proceed?
- Research the requirement and possible consequences, then give the sponsor a recommendation
- Address the requirement by ignoring the issue, as this new announcement is not part of the project’s documented scope
- Ensure documenting the requirement in the risk register, then ask for further guidance from all stakeholders
- Update the new compliance requirement as a high-level risk to the project charter
Correct

Incorrect
Question 18 of 21

18. Question
Your company must choose between two projects. Project 42 is worth $25,000, and Project 76 is worth $41,000. As part of the portfolio management process, Project 76 was chosen. What is the opportunity cost of this decision?
- $16,000
- $25,000
- Zero, as project 76 is worth more
- $66,000
Correct

Incorrect
Question 19 of 21

19. Question
A project has the following characteristics:
- It is in the execution stage
- It requires immediate compliance
- A new corresponding law will impact the project scope, schedule, and cost.
What are three possible actions to ensure compliance? (Choose three)
- Initiate avoidance of the risk
- Update the project management plan
- Escalate the issue to senior management
- Update the issue log
- Begin the change request process
Correct

Incorrect
Question 20 of 21

20. Question
Which of the following would you expect to find in a business case? (Choose 3)
- Investment appraisal.
- Detailed budget
- Key stakeholder identification.
- Milestone requirements.
Correct

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Question 21 of 21

21. Question
A new regulation requires consumer warnings on labels, but a company’s product package is too small to fit the additional information. The regulatory specification does not provide a solution, so the agile team resolves the problem by displaying the information on a foldout flap. The start of mass production of the new labels, the project’s next milestone, is scheduled to begin in five days.

What should the agile team do next?
- Update the Sprint backlog to reflect the additional product initial requirements
- Contact the compliance team to determine the validity of the selected format
- Request approval from the steering committee to proceed with the change
- Develop a prototype and submit it to the label manufacturer for approval
Correct

Incorrect

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