Preparing for the Project Management Professional (PMP®) Certification Exam Second Edition

SCOPE MANAGEMENT

A1:	Answer: b Scope definition is defined by PMI as ''decomposing the major deliverables into smaller, more manageable components to provide better control.''
A2:	Answer: a The chart of accounts is the system used to monitor project costs as defined by PMI.
A3:	Answer: c A stakeholder is an individual or organization that is involved in or may be affected by project activities.
A4:	Answer: c The actual payback period is between two years and three years. It is the point where the net or cumulative cash flows equal zero. This occurs between year 2 and 3 and is 2 and 29/30 of a year from the first cash flow. Cumulative cash flow in years are: 1, -500,000; 2, -290,000; 3, +10,000.
A5:	Answer: b The net cash flow is the total of all the ...