Subtitles of the Movie

In this movie we'll cover Questions 46 through 50 of the Exam Practice Questions found in your Work Files. This is the final remaining group to review. Question 46 says: You are the project manager of a software development project currently in the planning stages. In front of you is a project activity update you've recently requested. According to the estimates, the activity will most likely be completed within 34 days, but the completion may be as soon as 24 days, and as late as 53 days. What is the standard deviation of the activity? In order to answer this question correctly you need to know the formula for calculating standard deviation, and that's pessimistic minus optimistic divided by 6. So, we plug in our numbers into that calculation we come up with 53 minus 24 divided by 6, and when you work out the problem you get 4.83, making A the best choice. Question 47 says: If a risk event has an impact of 30,000 dollars with a 10 percent chance of occurring, what is the expected monetary value of the risk event? Here's another question where knowing the formula will get you the right answer. Expected Monetary Value is calculated by multiplying impact and probability. In this case you'd multiply 30,000 by 10 percent and get 3,000. That's option A. Number 48 says: All of the following are forms of information gathering techniques except A: Probability and impact matrix; B: Brainstorming; C: Root cause identification; or, D: Interviewing. The probability and impact matrix is used during Perform Qualitative Risk Analysis to prioritize the list of identified risks. The information gathering techniques are part of the process of risk identification, or, if you're using the Fourth Edition that would be Identify Risk process, therefore A is the correct choice. Question 49 says: Which of the following risk events is most likely to interfere with achieving a project's cost objective? A: A significant increase in the cost of goods from your primary supplier; B: A delay in obtaining approval from the necessary stakeholders; C: Utilizing the contingency reserve as a result of a risk trigger that has occurred; or, D: A dispute with the supplier over price. Option A deals directly with cost and is therefore the best choice, and although D appears as a potential choice, it only applied an increase. Option B involves an impact to the schedule and not cost, while option C involves using funds that have been specifically allocated for that purpose. And moving on to our final question for review, 50, it says: All of the following statements about Decision trees are true except A: Decision trees are utilized within the Qualitative risk analysis process; B: Decision trees are solved using expected monetary value; C: Decision trees reflect multiple scenarios; or, D: Decision tree analysis is a type of risk analysis technique. The correct answer would be A. Decision trees are used within Quantitative Risk Analysis and it's a technique that falls under Quantitative Risk Analysis and Modeling techniques, and has been lumped in with Expected Monetary Value analysis in the Fourth Edition of the PMBOK Guide. That covers all the Practice Questions. The majority of these questions pertain to Risk Analysis. I mentioned earlier that it's always a different experience answering questions when you know the primary topic. If you're taking the Exam, go through as many Practice Questions as you can get your hands on, but be sure that they're structured how they'll be presented in the real Exam. For example, there should only be four options. They are always multiple choice. There is never an option that says: All of the above, or None of the above. Don't throw yourself in a loop with these types of questions. You want to get into the Exam mindset, since knowing the material is not the only thing you should be considering. There's a strategy and method for taking exams, and the best thing to do is practice. And that wraps up this movie and section covering Exam Practice Questions.