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PROJECT MANAGEMENT- C722 EXAM
2025 BRAND NEW ACTUAL EXAM WITH
ANSWERS.
Critical chain - correct answer -builds on the critical path method
by going a step further adding time buffers to account for limited
resources. Pg 117
Co-located Teams - correct answer -team members physically
working at the same location or holding project meetings together
in a common setup. Pg 125
Earned value analysis (EVA) - correct answer -the process of
assessing the work completed. Pg 128
Identify Change - correct answer -Which change process step is
described: Processes are in place to document changes as soon
as they are identified Pg 131
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Evaluate Change - correct answer -Which change process step is
described: The appropriate stakeholders provide input to identify
cost and benefits Pg 131
Communicate Change - correct answer -Which change process
step is described: Project plans are updated to incorporate the
change Pg 131
Variance - correct answer -The fact or quality of being different,
divergent, or inconsistent. Pg 132
Earned Value Management (EVM) - correct answer -A widely
accepted method of measuring project performance and progress
of actual cost against the budgeted/planned cost. Pg 135
Earned Value (EV) - correct answer -The dollar value of all work
completed to date which is based on the baseline budgeted cost
of each activity. Pg 135
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Planned Value (PV) - correct 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
Actual Cost (AC) - correct 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
Budget at Completion (BAC) - correct answer -the approved total
baseline budget approved for the completed project. Pg 135
50-50 rule - correct answer -Assigns half completed as soon as
an activity is started and fully completed when an acitivity is
finished. Pg 135
0-100 rule - correct answer -Assigns no portion completed until an
activity is finished, then it assigns the full portion completed Pg
135
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Cost variance (CV) - correct answer -Compares the difference
between the EV and the AC (EV - AC) to determine if the project
is meeting its budget expectations. Pg 136
Schedule variance (SV) - correct 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
Negative Variance - correct answer -Term used when variances
show that the project is behind schedule Pg 136
Postive Variance - correct answer -Term used when variances
show that the project is ahead of schedule Pg 136
Cost performance index (CPI) - correct answer -A measure of the
efficiency of expenses spent on a project
Schedule performance index (SPI) - correct answer -Ratio that
creates a measure of time efficiency (EV / PV). Pg 137
PROJECT MANAGEMENT- C722 EXAM
2025 BRAND NEW ACTUAL EXAM WITH
ANSWERS.
Critical chain - correct answer -builds on the critical path method
by going a step further adding time buffers to account for limited
resources. Pg 117
Co-located Teams - correct answer -team members physically
working at the same location or holding project meetings together
in a common setup. Pg 125
Earned value analysis (EVA) - correct answer -the process of
assessing the work completed. Pg 128
Identify Change - correct answer -Which change process step is
described: Processes are in place to document changes as soon
as they are identified Pg 131
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Evaluate Change - correct answer -Which change process step is
described: The appropriate stakeholders provide input to identify
cost and benefits Pg 131
Communicate Change - correct answer -Which change process
step is described: Project plans are updated to incorporate the
change Pg 131
Variance - correct answer -The fact or quality of being different,
divergent, or inconsistent. Pg 132
Earned Value Management (EVM) - correct answer -A widely
accepted method of measuring project performance and progress
of actual cost against the budgeted/planned cost. Pg 135
Earned Value (EV) - correct answer -The dollar value of all work
completed to date which is based on the baseline budgeted cost
of each activity. Pg 135
, Page | 3
Planned Value (PV) - correct 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
Actual Cost (AC) - correct 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
Budget at Completion (BAC) - correct answer -the approved total
baseline budget approved for the completed project. Pg 135
50-50 rule - correct answer -Assigns half completed as soon as
an activity is started and fully completed when an acitivity is
finished. Pg 135
0-100 rule - correct answer -Assigns no portion completed until an
activity is finished, then it assigns the full portion completed Pg
135
, Page | 4
Cost variance (CV) - correct answer -Compares the difference
between the EV and the AC (EV - AC) to determine if the project
is meeting its budget expectations. Pg 136
Schedule variance (SV) - correct 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
Negative Variance - correct answer -Term used when variances
show that the project is behind schedule Pg 136
Postive Variance - correct answer -Term used when variances
show that the project is ahead of schedule Pg 136
Cost performance index (CPI) - correct answer -A measure of the
efficiency of expenses spent on a project
Schedule performance index (SPI) - correct answer -Ratio that
creates a measure of time efficiency (EV / PV). Pg 137
