APM PMQ Exam revision Bok7 2025 Revised Latest Update 2025-2026 270 Questions and 100% Verified Correct Answers Guaranteed A+
- types of project cost: - CORRECT ANSWER: • Direct
• Indirect • Fixed • Variable
A project risk is defined as.... - CORRECT ANSWER: The exposure of stakeholders to the consequences of variations in outcome. It is the overall risk affecting the whole project, defined by components associated with risk events, other sources of uncertainty and associated dependencies , to be managed at a strategic level.
A risk event is defined as.... - CORRECT ANSWER: An uncertain event or set of
circumstances that should it occur will have an effect on the achievement of one or more project objectives.
Advantages of project management software - CORRECT ANSWER: Excellent
reporting tool What-if analysis Progress tracking Quick calculations
Are all project management processes linear? e.g. completed once and not repeated? -
CORRECT ANSWER: No some may be constantly repeated throughout the project e.g.
estimation of project budget, or updating of business case, re-baselining of requirements, ongoing risk management.
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Areas of law to consider - CORRECT ANSWER: Health and Safety
Employment Contract Data protection Freedom of information
Arguments against the use of EVM - CORRECT ANSWER: Requires frequent
information on costs Forecasts are based on no corrective action Can lead to a lack of focus on quality Oversimplified Doesn't work for some project methods (agile)
Barriers affecting communication - CORRECT ANSWER: Clarity of ideas
Purpose Environment Background Delivery Body Language
Baseline budget - CORRECT ANSWER: • Everything is reported and measured against the baseline • Allows expectation of project spending
Baseline project budget structure - CORRECT ANSWER: • Project budget
• 2 X Reserves • Cost Baseline • Control Accounts 2 / 4
• Work Package estimates • Activity estimates
Benefits Management - CORRECT ANSWER: The identification, definition, planning,
tracking and realisation of business benefits
Benefits of a formal communications plan - CORRECT ANSWER: Understanding of
roles and responsibilities Reduced potential for conflict due to misunderstanding Enhanced confidence within project team and stakeholders Consistent transfer of project information Higher sense of ownership and commitment within the team
Benefits of a project lifecycle - CORRECT ANSWER: Consistency
High Level Planning.More effective planning Go/no go decisions.Improved decision-making Phase end reviews.Improved governance Manage funding Lesson Learned. Improved communication
Management focus on the early phases
Benefits of a project review - CORRECT ANSWER: • Allow for more informed decision- making • Increases stakeholder confidence • Allow for timely implementation of corrective action • Allows for an objective review of the project health • Sharing of lessons learned 3 / 4
• Increased chance of project success • Rigorous governance
Benefits of EVM - CORRECT ANSWER: Useful for monitoring, tracking and
reforecasting cost and schedule, and for paying suppliers on the basis of work done.
Simpler project reporting (KPIs) Highlight estimating errors Facilitate forecasting of cost and time Facilitates tighter controls of direct costs Help justify corrective action Identifies where early termination of project is required
Benefits of governance - CORRECT ANSWER: Clear reporting and escalation criteria Independent audits and reviews Empowerment to make appropiate decisions Culture of improvement and disclosure Engaged and more trusting stakeholders Assures stakeholders Achieve return on investment. Optimisation of investment.Resource usage justified.No unacceptable risks.Avoidance of common failures Better communication Delivery credibility Minimising risk Regulatory compliance
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