PMP Exam 2021 Flashcards Questions and Answers with Complete Solutions

Actual Cost Correct Answer-The realized cost incurred for the work performed on an activity during a specific time period Organizational Breakdown Structure Correct Answer-A hierarchical representation of the project organization, which illustrates the relationship between project activities and the organizational units that will perform those activities Predecessor Activity Correct Answer-An activity that logically comes before a dependent activity in a schedule. Rework Correct Answer-An activity performed to correct a nonconforming product. Three-Point Estimate Correct Answer-A mathematical technique employed to account for uncertainty in cost or duration estimates, wherein a most likely, an optimistic and a pessimistic estimate are used. Unknown-Unknown Correct Answer-A risk event that cannot be proactively identified or managed. Work Package Correct Answer-The work defined at the lowest level of the work breakdown structure for which cost and duration can be estimated