ISM 3541 EXAM 1 ACTUAL PAPER 2026
QUESTIONS WITH SOLUTIONS GRADED A+
◉ Data Modeling. Answer:
◉ Descriptive Modeling. Answer: Leveraging known, historical data
to create a story about how an object (e.g. think noun) arrived in its
current state
◉ Predictive Modeling. Answer: Creating modules on objects based
on attributes gathered from data sets to determine the future
behavior of an object and being able to rationalize the prediction
based on a formula or algorithm that incorporates risk and
probability. The type of model for forecasting one path, and one path
only based on assumptions. The date matures as the model runs in
iterative fashions.
◉ Prescriptive Modeling. Answer: Analytical modeling that supports
complex forecasting that is designed to provide insights on decision
making. The type of model used for forecasting multiple paths and
advising problem solving construct using "what if" scenarios and
risk analysis.
, ◉ Descriptive Analysis. Answer: is "predictive analytics" on steroids
where multiple paths for future behavior are guesstimated based on
probability, risk, impact, and priority and is supported by an overall
recommendation(s). Type of model for understanding the past
◉ why/what
when
how. Answer: The "schedule-scope-resources" defines the _______, the
_______, and the _______.
◉ Project Management Body of Knowledge (PMBOK). Answer: A
process for defining the "schedule-scope-resources" boundaries that
evolve through a concept of progressive elaboration over a period of
time defined by a hard start and end date.
◉ Schedule Performance Index (SPI). Answer: The project
management analytic that speaks to the overall timeline. Is a ratio of
the earned value (EV) to the planned value (PV). If the SPI is less
than one, it indicates that the project is potentially behind schedule
whereas a Schedule Performance Index of greater than one,
indicates the project is running ahead of schedule.
◉ Cost Performance Index (CPI). Answer: It measures the value of
work completed compared to the actual cost spent on the project. As
per the PMBOK Guide, "The CPI is a measure of the cost efficiency of
QUESTIONS WITH SOLUTIONS GRADED A+
◉ Data Modeling. Answer:
◉ Descriptive Modeling. Answer: Leveraging known, historical data
to create a story about how an object (e.g. think noun) arrived in its
current state
◉ Predictive Modeling. Answer: Creating modules on objects based
on attributes gathered from data sets to determine the future
behavior of an object and being able to rationalize the prediction
based on a formula or algorithm that incorporates risk and
probability. The type of model for forecasting one path, and one path
only based on assumptions. The date matures as the model runs in
iterative fashions.
◉ Prescriptive Modeling. Answer: Analytical modeling that supports
complex forecasting that is designed to provide insights on decision
making. The type of model used for forecasting multiple paths and
advising problem solving construct using "what if" scenarios and
risk analysis.
, ◉ Descriptive Analysis. Answer: is "predictive analytics" on steroids
where multiple paths for future behavior are guesstimated based on
probability, risk, impact, and priority and is supported by an overall
recommendation(s). Type of model for understanding the past
◉ why/what
when
how. Answer: The "schedule-scope-resources" defines the _______, the
_______, and the _______.
◉ Project Management Body of Knowledge (PMBOK). Answer: A
process for defining the "schedule-scope-resources" boundaries that
evolve through a concept of progressive elaboration over a period of
time defined by a hard start and end date.
◉ Schedule Performance Index (SPI). Answer: The project
management analytic that speaks to the overall timeline. Is a ratio of
the earned value (EV) to the planned value (PV). If the SPI is less
than one, it indicates that the project is potentially behind schedule
whereas a Schedule Performance Index of greater than one,
indicates the project is running ahead of schedule.
◉ Cost Performance Index (CPI). Answer: It measures the value of
work completed compared to the actual cost spent on the project. As
per the PMBOK Guide, "The CPI is a measure of the cost efficiency of
