Free PMP® Exam Sample Question 01 (Simulation Technique)
The free Project Management Professional (PMP)® exam question in this video is all about a simulation technique.
You can get 170 free questions from the Free PM Exam Simulator.
Hello, I'm Cornelius Fichtner. I'm the creator of The Project Management PrepCast™ and The PM Exam Simulator™ and if you are preparing for your Project Management Professional (PMP)® Exam, then you have come to the right place because I have a PMP® Exam Sample Question for you.
Here is the question, let me read it for you:
To calculate the total project cost, you use a technique that uses input values selected at random from probability distribution of possible cost. Which of the following options best describes the method?
Alright, here are the 4 answers.
Answer A, Automated Schedule Development.
Answer B, Monte Carlo Analysis.
Answer C, Schedule Risk Analysis; and then
And as a hint, I can also tell you that we are looking for a simulation technique here.
And right here, you see both the question and the answers together. On the real PMP Exam, you have 1.2 minutes to answer your questions, each one of then, and I'm now going to give you 30 seconds to think about this.
[30 seconds count]
Alright, do you have it? Of course the correct answer is B. This is the Monte Carlo Analysis that we have been looking for. The Monte Carlo analysis is a simulation technique. It uses computer models and estimates of risk and these risks, they are usually expressed as a probability distribution of possible costs or durations at a detailed work level and this is how you can best estimate how successful your project will be.
And that's it for our question!
If you are looking for more PMP® Exam sample questions and who isn’t? Then please visit the Free PM Exam Simulator™.
Until next time.