2026 QUESTIONS WITH SOLUTIONS
GRADED A+
◍ weighted factor scoring.
Answer: This scoring models requires senior management to assign a weight
to each criterion, which places some emphasis on selected criteria when
calculating the total project score. Pg 34
◍ Sacred Cow.
Answer: Projects are suggested by senior leadership or a powerful
constituent of the company often created to satisfy the expectations of the
leader with little regard for the project's viability or contribution to strategic
or operational needs. Pg 32
◍ Lead Time.
Answer: Time required for the delivery of products Pg 107
◍ one-point estimate.
Answer: Activity duration estimating method where the team expert
provides a single estimate for an activity based on either his or her own
knowledge or historical information. Pg 108
◍ Label Node.
Answer: A classification system such as 1.1, 1.2, etc Pg 113
◍ Project Process Groups.
Answer: Initiating, Planning/Executing/Monitoring and Controlling, Closing
◍ Low Cost.
Answer: Cost to run the model is economical relative to scale (budget) of
project Pg 31
,◍ Types of Project Management Plans.
Answer: Integration, Scope, Risk, Procurement, Communications, Human
Resources, Stakeholder, Quality, Cost, Time, Configuration, Change,
Process Improvement, Requirements
◍ Project Phases.
Answer: Defining, Planning, Executing, and Closing
◍ Budget at Completion (BAC).
Answer: the approved total baseline budget approved for the completed
project. Pg 135
◍ Non-numeric project selection models.
Answer: A process of selecting projects; not limited to traditional numeric
performance measures; includes Competitive Necessity, Operating
Necessity, Sacred Cow, and Checklist.
◍ living documents.
Answer: Planning documents that are not written in stone. Perodical review
helps ensure that the plans are still valid. Pg 80
◍ baseline budget.
Answer: The approved budget that will be used as the standard for
comparison of actual costs throughout the life of the project and identifying
variances. Pg 100
◍ payback period.
Answer: Calculates the amount of time required to earn back the cost of
doing the project. Pg 36
◍ 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
◍ specifications.
Answer: used to describe customer requirements that identify precise and
measurable characteristics of the project outcome Pg 48
, ◍ 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 /
BACCost (PCIC): When using new budget: AC / EAC
◍ Direct overhead costs.
Answer: costs from the project that are shared across the work activities. Pg
100
◍ Opportunity Enhancing.
Answer: Involves identifying the root cause of a positive risk so that you can
influence it for a greater likelihood of the opportunity occurring. Pg 95
◍ Standard Deviation.
Answer: (PESSIMISTIC ESTIMATE - OPTIMISTIC ESTIMATE) / 6 Pg
108
◍ External Task Dependency.
Answer: Task dependency that relies on external resources or forces Pg 112
◍ 0-100 rule.
Answer: Assigns no portion completed until an activity is finished, then it
assigns the full portion completed Pg 135
◍ Gantt chart.
Answer: A type of bar chart that illustrates a project schedule with start and
finish dates of the activities and tasks that the project requires. Pg 57
◍ Physical Task Dependency.
Answer: Task dependency where one activity cannot happen until something
else is completed (i.e. primer applied before paint) Pg 112
◍ schedule performance index (SPI).
Answer: Ratio that creates a measure of time efficiency (EV / PV). Pg 137
◍ 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