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GAQM PPM (PPM) Practice Tests & Test Prep by Exam Edge - Topics

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Understanding what is on the GAQM PPM exam is crucial step in preparing for the exam. You will need to have an understanding of the testing domain (topics covered) to be sure you are studying the correct information.

  • Directs your study efforts toward the most relevant areas.
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  • Increases the likelihood of success.
  • Keeps you informed about your field's current demands and standards.
There is no doubt that this is a strategic step in achieving certification and advancing your career.

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GAQM Professional in Project Management - Exam Topics Sample Questions

Which of the following is true for a lump sum contract?

Correct Answer:
both the buyer and seller agree on a set price for the project.

in a lump sum contract, both the buyer and the seller agree on a set price for the entire project. this type of contract is also known as a fixed price contract. the key characteristic of a lump sum contract is that it involves a single agreed-upon price for all work performed, regardless of the actual costs that might arise during the execution of the project. this agreed price is established based on a detailed assessment and mutual understanding of the project's scope and requirements.

contrary to other options, in a lump sum contract, the price is not determined unilaterally by either the buyer or the seller alone, nor is it set by an outside party. instead, both parties negotiate and concur on the total cost before the project begins. this process requires clear and detailed project specifications to be set in advance. these specifications help in avoiding ambiguity and potential disputes over the course of the project.

the nature of a lump sum contract implies that the risk of cost overruns is generally borne by the contractor (seller), since they agree to complete the project within the agreed price. this setup incentivizes the contractor to manage the project efficiently and control costs effectively. however, it also provides cost certainty for the client (buyer), making it a preferred choice in scenarios where a fixed budget is a priority.

it's important to note that while lump sum contracts and fixed price contracts are often used interchangeably, they are most applicable and beneficial when the scope and specifications of the project are well-defined. this clarity helps prevent disputes and ensures that both parties have a clear understanding of what is expected, thereby facilitating smoother project execution and management.

The change implementation group is responsible for:

Correct Answer:
testing all changes before implementation.
the change implementation group plays a critical role in managing and executing changes within an organization, particularly in it and production environments. here's a detailed explanation of their responsibilities:

scheduling changes: the change implementation group is tasked with planning and scheduling all required changes. this involves determining the timing and sequence of operations to ensure minimal disruption to ongoing production or services. effective scheduling helps in aligning the necessary resources and personnel, which is crucial for the smooth execution of changes.

testing all changes before implementation: one of the most critical responsibilities of the change implementation group is to thoroughly test all changes before they are implemented in the live environment. this testing phase aims to identify any potential issues that could cause the change to fail or negatively impact the system's stability or performance. by catching these issues early, the organization can avoid costly downtime and other adverse effects.

implementing changes: after careful planning and testing, the change implementation group proceeds with the actual implementation of changes. this step must be executed with precision, adhering to the predefined plans. during implementation, the group must monitor the process closely to address any unexpected challenges or deviations from the plan.

reviewing the results: post-implementation, it is vital to review and assess the outcome of the changes. this review process helps determine if the changes have achieved the intended objectives and if they align with the overall strategic goals of the organization. it also provides insights into the effectiveness of the change management process and highlights areas for improvement.

requesting closure of the change in the change register: finally, once the change has been successfully implemented and reviewed, the change implementation group must request the closure of the change in the change register. this formal closure helps in maintaining a clear and accurate record of all changes, aiding in accountability and future audits. it involves documenting the outcomes, any lessons learned, and confirming that the change has been completed satisfactorily.

overall, the responsibilities of the change implementation group are essential for ensuring that changes are executed efficiently and effectively, minimizing risks and maximizing the benefits to the organization. their role is crucial in maintaining the stability and integrity of the systems while adapting to new demands or improvements.