PROJECT MANAGEMENT MAIN EXAMINATION 2026/2027
QUESTIONS AND SOLUTIONS RATED A+
✔✔float time (slack time) - ✔✔the difference between the time required for the critical
path to complete and the time for another path to complete Pg 57
✔✔cost of business (COB) - ✔✔Day-to-day expenses that are not typically considered
part of the project and should not be charged to the project. Pg 58
✔✔Critical path method (CPM) - ✔✔Developed for the Dupont Corporation to estimate
activity time durations, this method assumes time can be reliably estimated; calculates
the longest path. Pg 68
✔✔Critical chain project management (CCPM) - ✔✔Focuses on managing the
uncertainties of a project and builds buffers into the schedule to prevent key activities
from failing. Pg 68
✔✔Waterfall - ✔✔Used previously in software development, this method organizes
project tasks into linear workflows. Pg 68
✔✔Projects in controlled environments (PRINCE) - ✔✔Focuses on the specification of
outputs, including very specific processes and terminology. Pg 68
✔✔PMBOK - ✔✔a standard that identifies the best practices which can be applied
across projects and environments Pg 68
✔✔uncertainty - ✔✔Situation where the current state of knowledge is such that (1) the
order or nature of things is unknown, (2) the consequences, extent, or magnitude of
circumstances, conditions, or events is unpredictable, and (3) credible probabilities to
possible outcomes cannot be assigned. Pg 69
✔✔Network Diagram - ✔✔a project planning tool that shows the sequenced project
activities using arrows and circles Pg 69
✔✔Agile project management - ✔✔an iterative approach to project management where
the project team works closely with the customer to deliver projects in usable chunks Pg
74
✔✔scrum - ✔✔The daily standup meeting where the team discusses their work status
and plans the work for the day. Pg 74
✔✔sprints - ✔✔Occurs when the focus is to work together in delivering functionality to
the customer in a relatively short period of time (often less than 3 weeks). Pg 74
, ✔✔backlog - ✔✔Cards that contain customer functionality requirements Pg 74
✔✔retrospective - ✔✔a discussion after the completion of each sprint to determine what
went well and what changes should occur in the next sprint. Pg 74
✔✔Extreme Project Management - ✔✔Approaches to address issues of extraordinary
uncertainty or complexity. Pg 75
✔✔8/80 Rule - ✔✔A good rule of thumb that ensures that no task is less than 8 hours or
more than 80 hours in the WBS Pg 89
✔✔living documents - ✔✔Planning documents that are not written in stone. Perodical
review helps ensure that the plans are still valid. Pg 80
✔✔Statement of Work (SOW) - ✔✔Defines the project's outcomes in terms of
objectives, specific deliverables, acceptance criteria, technical requirements,
milestones, constraints, and assumptions. Pg 81
✔✔Project Scope Statement - ✔✔Both the product scope (description of the project
outcomes) and the project scope (description of how the work will be completed) are
included Pg 82
✔✔Requirements Traceability Matrix - ✔✔A grid that includes the requirement, identifies
the business need, and the specific stakeholder who provided the requirement Pg 82
✔✔Resource Responsibility Matrix - ✔✔A document that shows the needed resources
which are identified and roles and responsibilities are detailed. Pg 83
✔✔Skill Matrix - ✔✔Shows the required skills for each role and the available skills for
each person available for the project team. Pg 83
✔✔Tools that document approval requirements - ✔✔Project Statement of Work (SOW)
and Requirements Traceability Matrix (RAM)
✔✔Resource Leveling - ✔✔The act of leveling the amount of resources needed to be
constant over a period of time Pg 84
✔✔Activity - ✔✔A portion of work that will be executed as part of the project to create
the specified deliverables. Pg 88
✔✔task - ✔✔specific actions taken to complete an activity. Pg 88
✔✔WBS Number - ✔✔Used as a coding scheme to associate the various tasks to
activities, deliverables, and the project as a whole. Pg 89
QUESTIONS AND SOLUTIONS RATED A+
✔✔float time (slack time) - ✔✔the difference between the time required for the critical
path to complete and the time for another path to complete Pg 57
✔✔cost of business (COB) - ✔✔Day-to-day expenses that are not typically considered
part of the project and should not be charged to the project. Pg 58
✔✔Critical path method (CPM) - ✔✔Developed for the Dupont Corporation to estimate
activity time durations, this method assumes time can be reliably estimated; calculates
the longest path. Pg 68
✔✔Critical chain project management (CCPM) - ✔✔Focuses on managing the
uncertainties of a project and builds buffers into the schedule to prevent key activities
from failing. Pg 68
✔✔Waterfall - ✔✔Used previously in software development, this method organizes
project tasks into linear workflows. Pg 68
✔✔Projects in controlled environments (PRINCE) - ✔✔Focuses on the specification of
outputs, including very specific processes and terminology. Pg 68
✔✔PMBOK - ✔✔a standard that identifies the best practices which can be applied
across projects and environments Pg 68
✔✔uncertainty - ✔✔Situation where the current state of knowledge is such that (1) the
order or nature of things is unknown, (2) the consequences, extent, or magnitude of
circumstances, conditions, or events is unpredictable, and (3) credible probabilities to
possible outcomes cannot be assigned. Pg 69
✔✔Network Diagram - ✔✔a project planning tool that shows the sequenced project
activities using arrows and circles Pg 69
✔✔Agile project management - ✔✔an iterative approach to project management where
the project team works closely with the customer to deliver projects in usable chunks Pg
74
✔✔scrum - ✔✔The daily standup meeting where the team discusses their work status
and plans the work for the day. Pg 74
✔✔sprints - ✔✔Occurs when the focus is to work together in delivering functionality to
the customer in a relatively short period of time (often less than 3 weeks). Pg 74
, ✔✔backlog - ✔✔Cards that contain customer functionality requirements Pg 74
✔✔retrospective - ✔✔a discussion after the completion of each sprint to determine what
went well and what changes should occur in the next sprint. Pg 74
✔✔Extreme Project Management - ✔✔Approaches to address issues of extraordinary
uncertainty or complexity. Pg 75
✔✔8/80 Rule - ✔✔A good rule of thumb that ensures that no task is less than 8 hours or
more than 80 hours in the WBS Pg 89
✔✔living documents - ✔✔Planning documents that are not written in stone. Perodical
review helps ensure that the plans are still valid. Pg 80
✔✔Statement of Work (SOW) - ✔✔Defines the project's outcomes in terms of
objectives, specific deliverables, acceptance criteria, technical requirements,
milestones, constraints, and assumptions. Pg 81
✔✔Project Scope Statement - ✔✔Both the product scope (description of the project
outcomes) and the project scope (description of how the work will be completed) are
included Pg 82
✔✔Requirements Traceability Matrix - ✔✔A grid that includes the requirement, identifies
the business need, and the specific stakeholder who provided the requirement Pg 82
✔✔Resource Responsibility Matrix - ✔✔A document that shows the needed resources
which are identified and roles and responsibilities are detailed. Pg 83
✔✔Skill Matrix - ✔✔Shows the required skills for each role and the available skills for
each person available for the project team. Pg 83
✔✔Tools that document approval requirements - ✔✔Project Statement of Work (SOW)
and Requirements Traceability Matrix (RAM)
✔✔Resource Leveling - ✔✔The act of leveling the amount of resources needed to be
constant over a period of time Pg 84
✔✔Activity - ✔✔A portion of work that will be executed as part of the project to create
the specified deliverables. Pg 88
✔✔task - ✔✔specific actions taken to complete an activity. Pg 88
✔✔WBS Number - ✔✔Used as a coding scheme to associate the various tasks to
activities, deliverables, and the project as a whole. Pg 89
