Question 1: What is the purpose of a Work Breakdown Structure (WBS)?
A) To list project risks
B) To divide project tasks into smaller, manageable components
C) To define the scope baseline
D) To assign team responsibilities
Answer: B) To divide project tasks into smaller, manageable components
Explanation:
A WBS is a hierarchical decomposition of the total scope of work to accomplish project objectives and create deliverables. It helps organize work into smaller, manageable pieces, making it easier to estimate, assign, and monitor. While defining the scope baseline (C) is related, the primary purpose is task decomposition.
Question 2: Which process group does the activity ‘Develop Project Charter’ belong to?
A) Initiating
B) Planning
C) Executing
D) Monitoring and Controlling
Answer: A) Initiating
Explanation:
The “Develop Project Charter” process belongs to the Initiating Process Group. It is the first step in a project where the project charter is created to formally authorize the project and define its objectives, stakeholders, and high-level deliverables.
Question 3: What is a key characteristic of Agile project management?
A) Strict adherence to initial plans
B) Sequential phases of project execution
C) Flexibility to adapt to changes
D) Use of a fixed scope for all projects
Answer: C) Flexibility to adapt to changes
Explanation:
Agile is an iterative and adaptive approach to project management. It focuses on delivering value in small increments and being responsive to changes in customer requirements or project dynamics. Agile contrasts with traditional methods like Waterfall, which emphasize sequential phases and fixed scope.
Question 4: What is the primary output of the ‘Identify Risks’ process?
A) Risk Register
B) Risk Mitigation Plan
C) Issue Log
D) Risk Management Plan
Answer: A) Risk Register
Explanation:
The primary output of the “Identify Risks” process is the Risk Register, which lists identified risks, their potential impact, and preliminary responses. The Risk Management Plan (D) is developed earlier during planning and outlines the approach for managing risks.
Question 5: In earned value management (EVM), what does a Cost Performance Index (CPI) greater than 1 indicate?
A) The project is under budget
B) The project is over budget
C) The project is ahead of schedule
D) The project is behind schedule
Answer: A) The project is under budget
Explanation:
The CPI is calculated as Earned Value (EV) / Actual Cost (AC). A CPI greater than 1 means the project is getting more value for each dollar spent, indicating it is under budget. A CPI less than 1 suggests the project is over budget.
Question 6: What is the primary purpose of the ‘Control Quality’ process?
A) To identify project risks
B) To monitor and record results of quality activities
C) To validate project scope
D) To develop the quality management plan
Answer: B) To monitor and record results of quality activities
Explanation:
The Control Quality process focuses on ensuring that project deliverables meet the quality standards defined in the Quality Management Plan. It involves monitoring and measuring project results to identify ways to improve quality performance.
Question 7: In risk management, what is the difference between a risk and an issue?
A) Risks are potential future events, while issues are current problems
B) Risks always have negative outcomes, while issues are neutral
C) Risks are external, while issues are internal
D) Risks and issues are the same
Answer: A) Risks are potential future events, while issues are current problems
Explanation:
Risks are uncertain events that might occur and could affect project objectives, positively or negatively. Issues are problems that have already occurred and require immediate resolution. Understanding this distinction is key in project risk management.
Question 8: What does the term ‘float’ or ‘slack’ refer to in project management?
A) The additional budget for risk events
B) The amount of time a task can be delayed without affecting the project
C) The time between project phases
D) The duration of critical path activities
Answer: B) The amount of time a task can be delayed without affecting the project
Explanation:
Float (or slack) is the amount of time a task can be delayed without delaying the project’s overall timeline. It is a key concept in schedule management and is used to identify flexibility within non-critical path tasks.
Question 9: Which contract type places the highest risk on the seller?
A) Fixed-Price
B) Cost-Reimbursable
C) Time and Materials
D) Incentive Fee
Answer: A) Fixed-Price
Explanation:
In a Fixed-Price Contract, the seller assumes the highest risk because they are responsible for delivering the agreed-upon work within the budget, regardless of actual costs. If costs exceed the fixed price, the seller absorbs the difference.
Question 10: What is the main benefit of using a Responsibility Assignment Matrix (RAM)?
A) To identify project risks
B) To assign resources to activities
C) To clarify team roles and responsibilities
D) To create the project schedule
Answer: C) To clarify team roles and responsibilities
Explanation:
The Responsibility Assignment Matrix (RAM), such as a RACI chart, clarifies who is responsible, accountable, consulted, and informed for specific tasks or deliverables. This improves communication and ensures that all team members understand their roles.