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Nokia CPM Sample Questions:

1. For what primary purpose do cost and progress managers require the project change log?

A) The change log is mandatory for global reporting.
B) The change log provides key inputs for estimation at completion (EAC) maintenance.
C) Cost and progress managers are responsible to systematically document all change requests.
D) Cost and progress managers rarely require the change log, as it is a tool primarily for project managers.

2. When should lessons learned be performed?

A) During the project execution and at the conclusion of the project.
B) Only when there is time available as project managers have other priorities.
C) After the end of the project, at the project post-mortem meeting.
D) Only at the end of the project, during project closing.

3. The __________ identifies the project elements that cost will be allocated to:

A) work breakdown structure.
B) order of magnitude estimate.
C) earned value.
D) default work packages.

4. Which of the following KPIs is NOT reported by the cost and progress manager?

A) PC
B) FSDI.
C) ABCTA.
D) NCC coverage.

5. The project team has received the LoA approved risk log, which is the basis for the cost baseline risk contingency. During project execution a new relevant risk is identified. What is the best way to manage it?

A) If the new risk is not part of the current risk log, than it must be part of a change management process and not be included in the contingency reserve.
B) Evaluate the risk impact and probability, update Risk Log, revise ETC, NCC cost accordingly, and if required trigger LoA process.
C) Evaluate the impact and probability and, if needed, make a revision of the contingency reserve in the cost baseline and in the EAC, and communicate to the relevant stakeholders.
D) Define the Response plan for the new eisk and apply it.

Solutions: