Project Lifecycle Management Essentials - 1Z1-466 Exam Practice Test

Question 1

What is not an approach for risk mitigation?

A. Reducing the impact of the risk by having a plan in place to immediatelyreadto the event.

B. Reducing the probability of occurrence by choosing an alternate approach

C. Accepting some of the risks from the onset and controlling those risks throughout the project lifecycle.

D. Accepting some of the risks and adding them to the Issues log since they will probably become an issue anyway.

Correct Answer: D

Question 2

Select the three statements that are true about the Project management Plan.

A. It is created by the project manager and the client.

B. It is a conceptual work product comprised of process components detailing the tools and/or approach for each OUM Manage process.

C. It is the single most important work product produced by the project manager.

D. It provides a framework for the Analysis and Design processes.

E. Its main focus is on scheduling the project.

F. It is created in the Manage Project Execution and Control phase.

Correct Answer: A,C,D

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Question 3

According to the recommended training for this exam, an engagement becomes a project when ______________.

A. The client signs the statement of Work

B. There is a specific result, a budget, and a targeted end date

C. The sales cycle has ended

D. The client signs the contract

Correct Answer: D

Question 4

An ___________ is a distinct set of activities conducted according to a devoted plan and evaluation criteria that results in a release, either internal or external.

A. Internal

B. Increment

C. Iteration

D. Implement

E. Approach

Correct Answer: C

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Question 5

What involvement is a critical success factor in reviewing the project scope and approach and determining the Project Management Framework?

A. Consulting

B. Steering Committee

C. Client

D. Sales

E. Stakeholders

F. Delivery

Correct Answer: E

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Question 6

According to the recommended training for this exam, when does the Project Manager assume responsibility for the commitments made during the sale cycle?

A. At the start of the sales cycle

B. During the Risk Management process

C. During the Project Closure phase

D. At the transaction from sales to delivery

Correct Answer: D

Question 7

What does a schedule variance (SV) of greater than zero mean?

A. the project is above budget

B. the project is neither behind nor below schedule

C. the project is ahead of schedule

D. the project is behind schedule

E. the project is below budget

Correct Answer: C

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Question 8

Select the three goals that have been set for Oracle Unified Method (OUM).

A. Fusion Technology Foundation

B. Single Method Framework

C. Increase time to implement

D. Tight Integration with Sales Methodology and Enterprise-Level Processes

E. Based on AIM for Business Flows Method

F. Release dependent

Correct Answer: B,D,F

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Question 9

In the OUM Manage Focus Area, which process is started and completed within a single phase?

A. Risk Management

B. Bid Transaction

C. Scope management

D. Project Closure

Correct Answer: B

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Question 10

What describes the initial Iteration Plan for the Inception phase?

A. It is not needed because Inception is a short phase.

B. It focuses on the milestones for the Elaboration Phase.

C. It is a static plan, which is set during Bid Transition.

D. It is created in the Project Startup Phase.

Correct Answer: D

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Oracle Project Lifecycle Management Essentials - 1Z1-466 Exam Practice Test

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