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ARE 5.0 Project Management Questions with
Correct Answers | Updated (100% Correct
Answers)
Project Management Answer: Includes project planning, scheduling,
monitoring, coordinating and directing, updating documentation,
closing out the job, and following up with clients.
Partnering Answer: Various stakeholders in a project (such as the
architect, owner, contractor and vendors) all participate in the
decision-making process.
Bar Chart Answer: Method commonly used for scheduling design
and construction projects. Tasks are listed in chronological order on
vertical access and time period is listed on horizontal axis. (Aka
Gantt Chart)
Dependency Answer: The relationship between a task that must be
completed before another can start.
Critical Path Method (CPM) Answer: Common scheduling tool that
graphically depicts all the tasks needed to complete a project, the
sequence in which tasks must occur, and each task's duration.
Float Answer: The maximum length of time a noncritical task can be
delayed or extended before it causes a delay.
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Work Plan Answer: A detailed project schedule, breaking the project
down into its component tasks and assigning staff members and
other resources to each task. (Aka Fee projection)
Pro Forma Answer: Statement listing the expected income that the
project will generate and the expected costs to build the project.
Value Engineering Answer: Reviewing individual systems and
materials to see if the same function can be accomplished in a less
expensive way.
Building Cost Answer: The money needed to construct the building,
including structure, exterior cladding, finishes, and electrical and
mechanical systems, as well as the contractor's overhead and profit.
Site Development Costs Answer: Cost of parking, drives, fences,
landscaping, exterior lighting, and irrigation systems.
Furniture, Fixtures, and Equipment (FF&E) Answer: Costs of movable
equipment, furnishings, accessories, and window coverings.
Professional Services Answer: Architectural and engineering fees as
well as costs for services such as topographic surveys, soil tests,
special consultants, appraisals, and legal consultation.
Financing Answer: Includes the long-term interest paid on
permanent financing as well as the immediate costs of loan
© 2025 All rights reserved
, 3
origination fees, construction loan interest, and other administrative
costs.
Debt Service Answer: The cost to pay off the construction loan for a
project and is generally considered an ongoing cost over many
years, not part of the original cost of the project.
Top-Down Approach Answer: An approach for estimating fees
where the PM begins by estimating the total fee needed to
complete the project using a combination of rules of thumb and
historical data.
Bottom-Up Approach Answer: An approach for estimating fees
where the PM begins by breaking the project down into individual
tasks and estimating how much time will be needed to complete
each one.
Total Working Fee Answer: The fee available to pay people to do
the job after subtracting fees for proffit, consultants and other
expenses.
Project Monitoring Chart Answer: Used to monitor employees' time
sheets weekly in order to compare the actual hours expended to the
budgeted time and take corrective action if the actual time exceeds
the budgeted time.
© 2025 All rights reserved
ARE 5.0 Project Management Questions with
Correct Answers | Updated (100% Correct
Answers)
Project Management Answer: Includes project planning, scheduling,
monitoring, coordinating and directing, updating documentation,
closing out the job, and following up with clients.
Partnering Answer: Various stakeholders in a project (such as the
architect, owner, contractor and vendors) all participate in the
decision-making process.
Bar Chart Answer: Method commonly used for scheduling design
and construction projects. Tasks are listed in chronological order on
vertical access and time period is listed on horizontal axis. (Aka
Gantt Chart)
Dependency Answer: The relationship between a task that must be
completed before another can start.
Critical Path Method (CPM) Answer: Common scheduling tool that
graphically depicts all the tasks needed to complete a project, the
sequence in which tasks must occur, and each task's duration.
Float Answer: The maximum length of time a noncritical task can be
delayed or extended before it causes a delay.
© 2025 All rights reserved
,2
Work Plan Answer: A detailed project schedule, breaking the project
down into its component tasks and assigning staff members and
other resources to each task. (Aka Fee projection)
Pro Forma Answer: Statement listing the expected income that the
project will generate and the expected costs to build the project.
Value Engineering Answer: Reviewing individual systems and
materials to see if the same function can be accomplished in a less
expensive way.
Building Cost Answer: The money needed to construct the building,
including structure, exterior cladding, finishes, and electrical and
mechanical systems, as well as the contractor's overhead and profit.
Site Development Costs Answer: Cost of parking, drives, fences,
landscaping, exterior lighting, and irrigation systems.
Furniture, Fixtures, and Equipment (FF&E) Answer: Costs of movable
equipment, furnishings, accessories, and window coverings.
Professional Services Answer: Architectural and engineering fees as
well as costs for services such as topographic surveys, soil tests,
special consultants, appraisals, and legal consultation.
Financing Answer: Includes the long-term interest paid on
permanent financing as well as the immediate costs of loan
© 2025 All rights reserved
, 3
origination fees, construction loan interest, and other administrative
costs.
Debt Service Answer: The cost to pay off the construction loan for a
project and is generally considered an ongoing cost over many
years, not part of the original cost of the project.
Top-Down Approach Answer: An approach for estimating fees
where the PM begins by estimating the total fee needed to
complete the project using a combination of rules of thumb and
historical data.
Bottom-Up Approach Answer: An approach for estimating fees
where the PM begins by breaking the project down into individual
tasks and estimating how much time will be needed to complete
each one.
Total Working Fee Answer: The fee available to pay people to do
the job after subtracting fees for proffit, consultants and other
expenses.
Project Monitoring Chart Answer: Used to monitor employees' time
sheets weekly in order to compare the actual hours expended to the
budgeted time and take corrective action if the actual time exceeds
the budgeted time.
© 2025 All rights reserved
