Project Management C722 OBJECTIVE ASSESSMENT FINAL EXAM 2025/2026 COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES || 100% GUARANTEED PASS!! <<BRAND NEW VERSION>>

Project Management C722 OBJECTIVE ASSESSMENT FINAL EXAM 2025/2026 COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES || 100% GUARANTEED PASS!! &lt;&lt;BRAND NEW VERSION&gt;&gt; 1. Physical Task Dependency - ANSWER Task dependency where one activity cannot happen until something else is completed (i.e. primer applied before paint) Pg 112 2. Label Node - ANSWER A classification system such as 1.1, 1.2, etc Pg 113 3. Finish-to-Start Relationships (FS) - ANSWER a logical relationship in which a successor activity cannot start until a predecessor has finished. Pg 114 4. Finish-to-Finish Relationships (FF) - ANSWER A logical relationship where the successor task cannot be completed until the first task is completed. Pg 114 5. Start-to-Start Relationships (SS) - ANSWER A logical, but less common, relationship where the successor activity cannot start until the predecessor activity has started Pg 114 6. Start-to-Finish Relationships - ANSWER A logical, but less common, relationship where the first task cannot end until the second task has started Pg 114 7. Lag Time - ANSWER A delay that makes the successor task start some time after its predecessor ends Pg 115 8. Float/Slack - ANSWER the amount of time an activity, network path, or project can be delayed from the early start without changing the completion date of the project. Pg 117 9. Total float - ANSWER The difference between the finish date of the last activity on the critical path and the project completion date. Pg 117 10. negative float - ANSWER the calculated completion date of the last activity is later than the targeted completion date established at the beginning of the project. Pg 117 11. free float - ANSWER Free float is the amount of time an activity can be delayed without delaying the Early Start of its successor activity. 12. forward pass - ANSWER start assigning dates based on the earliest start date, adding dates based on our estimates for each task in the diagram. Pg 117 13. backward pass - ANSWER Refers to the calculation of late finish dates and late start dates for the portions of schedule activities that have not been completed. Pg 117 14. crash - ANSWER to obtain the greatest amount of compression of the schedule/critical path for the least incremental cost or time. Pg 117 15. critical chain - ANSWER builds on the critical path method by going a step further adding time buffers to account for limited resources. Pg 117 16. Co-located Teams - ANSWER team members physically working at the same location or holding project meetings together in a common setup. Pg 125 17. earned value analysis (EVA) - ANSWER the process of assessing the work completed. Pg 128 18. Identify Change - ANSWER Which change process step is described: Processes are in place to document changes as soon as they are identified Pg 131 19. Evaluate Change - ANSWER Which change process step is described: The appropriate stakeholders provide input to identify cost and benefits Pg 131 20. Communicate Change - ANSWER Which change process step is described: Project plans are updated to incorporate the change Pg 131 21. Variance - ANSWER The fact or quality of being different, divergent, or inconsistent. Pg 132 22. Earned Value Management (EVM) - ANSWER A widely accepted method of measuring project performance and progress of actual cost against the budgeted/planned cost. Pg 135 23. Earned Value (EV) - ANSWER The dollar value of all work completed to date which is based on the baseline budgeted cost of each activity. Pg 135 24. Planned Value (PV) - ANSWER The dollar value of all work scheduled to have been completed to date which is based on the baseline schedule and the calendarized baseline budget. Pg 135 25. Actual Cost (AC) - ANSWER The total dollar value of costs incurred to date which includes work and invoices already paid as well as any expenses that have been incurred but not yet invoiced or paid. Pg 135 26. Budget at Completion (BAC) - ANSWER the approved total baseline budget approved for the completed project. Pg 135 27. 50-50 rule - ANSWER Assigns half completed as soon as an activity is started and fully completed when an acitivity is finished. Pg 135 28. 0-100 rule - ANSWER Assigns no portion completed until an activity is finished, then it assigns the full portion completed Pg 135 29. Cost variance (CV) - ANSWER Compares the difference between the EV and the AC (EV - AC) to determine if the project is meeting its budget expectations. Pg 136 30. Schedule variance (SV) - ANSWER Compares differences between the EV and the PV (EV - PV) to determine if the project is meeting its schedule expectations or if there is a variance. Pg 136 31. Negative Variance - ANSWER Term used when variances show that the project is behind schedule Pg 136 32. Postive Variance - ANSWER Term used when variances show that the project is ahead of schedule Pg 136 33. Cost performance index (CPI) - ANSWER A measure of the efficiency of expenses spent on a project 34. schedule performance index (SPI) - ANSWER Ratio that creates a measure of time efficiency (EV / PV). Pg 137 35. To complete performance index (TCPI) - ANSWER Ratio that states what the CPI will need to be for the remainder of the project if the team intends to finish on budget. If project is under budget: (BAC - EV) / (BAC - AC) If project is over budget: (BAC - EV) / ( EAC - AC) 36. percent complete index (PCI) - ANSWER A ratio measurement of how much of the total project work has been completed. Budget (PCIB): When using original budget: EV / BAC Cost (PCIC): When using new budget: AC / EAC 37. estimate to completion (ETC) - ANSWER estimate of how much money will be needed to complete the project (BAC - EV) / CPI. 38. estimate at completion (EAC) - ANSWER The forecast of how much more the project is expected to cost to complete. AC + ETC 39. Scope baseline - ANSWER Includes the project scope statement, the Work Breakdown Structure (WBS), and the WBS dictionary 40. Stage - ANSWER Each portion of a project 41. Deliverable - ANSWER The end result or the result of a completed stage of an overall project 42. Requirements Traceability Matrix - ANSWER The project deliverables come from the stakeholder requirements identified in which document? 43. activities and tasks - ANSWER Project deliverables are broken down into ______________ and ________ 44. roles and responsibility matrix - ANSWER The______________________________________ exists to help ensure that everyone knows who is responsible for each aspect of the project. 45. shows the number and types of resources required over specific time periods. - ANSWER What is a histogram used for in project mgmt? 46. resource leveling - ANSWER ________________ ____________________is the process of minimizing the variation in need of a specific resource over several time periods. 47. WBS - ANSWER The _________ is a methodical deconstruction of deliverables into tasks to be performed. It is a comprehensive classification of project activities and tasks based on the deliverables in the scope. 48. deliverables - ANSWER The WBS is organized around which hierarchical format? 49. True - ANSWER T or F: In assigning tasks for project deliverables, it is always the best practice to have each task belong to an individual. 50. Mitigating risk - ANSWER Which type of risk management is represented by absorbing the impact of the risk and not allowing it to impact effort and cost? 51. Risk Breakdown Structure (RBS) - ANSWER One tool recommended in the PMBOK is a _____________ _____________ __________________ which follows the WBS and insures that each activity and task in the WBS is reviewed for risk and opportunity and documented as identified. 52. risk register - ANSWER The ____________ ____________ lists all risks (external, technical, or organizational) and assigns scores for probability and severity. 53. Probability/Severity - ANSWER Which two scores on the risk register are multiplied together as a means of assessing risks according to priority? 54. bottom-up - ANSWER Creating a _________________ estimate requires people with expertise to do the work estimate of the labor, supplies, materials, equipment, and any other resources needed to complete each individual work activity. top-down - ANSWER Initial estimates of cost are most often developed using ________________ estimation methods. apportion - ANSWER The ________________ method requires that an overall project cost be provided based on the customer's budget or similar projects. The overall budget is then allocated to the major work areas required in the project (design, programming, testing, documentation, user training). WBS - ANSWER What has to be created first before a bottom-up estimate can be generated? baseline budget - ANSWER Project costs will be monitored by comparing actual costs to the __________ __________ contingency - ANSWER The _______________________ budget is for costs that may be incurred if certain situations occur. FTE ( full-time equivalent cost of an individual hour) and number of work hours estimated - ANSWER Labor costs are calculated by multiplying ____and the __________________________ estimated. WBS, budget, and network diagram - ANSWER What is combined to create a calendarized budget? O+M+P/3 optimistic, most likely, pessimistic - ANSWER triangular distribution or simple average Activity Duration=O+M+P3 beta distribution - ANSWER The _________ ______________ still uses the three estimates (optimistic, most likely, and pessimistic) but places emphasis on the most likely estimate. (O+4M+P)/6 - ANSWER beta distribution Activity Duration=(O+4M+P)/6 the team member doing the work - ANSWER Because the activity durations will be integrated with the activity sequencing to become the approved schedule, who should have primary input into the duration estimates? deterministic Deterministic estimation relies on one-point estimating so it is dependent on the expertise of the person providing the estimate rather than on multiple inputs. - ANSWER The problem with using the ___________________ estimation method is that the people providing the estimate can be too optimistic or too pessimistic, which results in unreliable duration estimates. (p-o)/6 - ANSWER What is the activity standard deviation formula? PRojects IN a Controlled Environment - ANSWER What does PRINCE2 stand for? Project team members gain access to historical data from other projects. - ANSWER An organization expects to use a project management office (PMO) to support multiple projects that will be implemented within a projectized organizational structure. Which implied effect is a benefit to this organization? Project team members retain their functional responsibilities. Project team members become full-time employees. Project team members gain access to the newest technologies and skill sets. Project team members gain access to historical data from other projects. deliverable - ANSWER What is the correct term for an intermediate outcome of project work, such as a signed contract or obtaining a construction permit? WBS dictionary and project scope statement - ANSWER For the following collapsed work breakdown structure (WBS) for Project O, the project manager must complete the scope baseline. In addition to the WBS, the scope baseline will contain two additional documents: Scope creep has caused a scope variance. - ANSWER A project is an operational necessity to repair a design flaw in the date field that constrains the year number to two digits, instead of permitting the year to be indicated with four digits. If the project is not completed before December 31, 1999, many legacy programs are expected to fail or produce unpredictable outcomes. The marketing department wants to upgrade its existing computer equipment and have the costs included in the budget for this project. The project team implemented the marketing department's request without completing the formal change control procedures. What has happened to the scope baseline in this scenario? IRR - ANSWER The discount amount when present value of cash intake equals the original investment planning and executing - ANSWER Which two processes are considered iterative processes? SOW Requirements traceability matrix - ANSWER A project manager wants to understand and document the approvals that must be obtained for each work package in the work breakdown structure (WBS).