Project Management Flashcards
7 cards from real ASCE practice questions. Tap to flip, then mark Knew It or Still Learning โ missed cards come back until you master them.
Read the first 7 Project Management flashcards as text
A project has SPI = 1.10 and CPI = 0.92. Which statement best describes its status?
Answer: Ahead of schedule and over budget
SPI above 1 means ahead of schedule; CPI below 1 means over budget.
Which risk response strategy is used when an owner requires the contractor to carry a performance bond?
Answer: Transfer
A bond shifts the financial consequence of default to a surety, which is risk transfer.
The lowest level of a work breakdown structure, where cost and duration are estimated and managed, is called the:
Answer: Work package
Work packages are the lowest WBS level used for estimating, scheduling, and control.
Resource leveling on a construction schedule most commonly results in:
Answer: Extended project duration to resolve resource overallocation
Leveling shifts activities to smooth resource demand, which often lengthens the critical path.
A delay caused by unusually severe weather that is beyond either party's control is typically classified as:
Answer: Excusable but non-compensable
Unusual weather usually earns a time extension but no additional money.
In a probability-impact matrix, a risk with probability 0.3 and impact $200,000 has an expected monetary value of:
Answer: $60,000
EMV = probability x impact = 0.3 x 200,000 = $60,000.
Which ASCE Code of Ethics canon requires engineers to hold paramount the safety, health, and welfare of the public?
Answer: Canon 1
Canon 1 places public safety, health, and welfare first, which governs PM decisions on public works.