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Predictive Methodologies Flashcards

7 cards from real CAPM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Predictive Methodologies flashcards as text

  1. In a predictive project, what is 'float' (also called slack)?

    Answer: The amount of time an activity can be delayed without delaying the project

    Float is the amount of time a non-critical activity can be delayed without impacting the project's overall end date.

  2. A project manager uses analogous estimating for a new project. What is the main drawback of this technique?

    Answer: It relies on historical data that may not be comparable

    Analogous estimating uses past project data, so if the historical project is not truly similar, the estimate may be inaccurate.

  3. In predictive project management, which risk response strategy involves shifting the negative impact of a risk to a third party?

    Answer: Transfer

    Risk transfer moves the financial impact or responsibility for a risk to a third party, such as through insurance or outsourcing.

  4. A project's planned value (PV) is $100,000, earned value (EV) is $80,000, and actual cost (AC) is $90,000. What is the Cost Variance (CV)?

    Answer: -$10,000

    Cost Variance = EV − AC = $80,000 − $90,000 = −$10,000, indicating the project is $10,000 over budget.

  5. Which process in predictive project management involves comparing project results to standards and identifying ways to eliminate unsatisfactory performance?

    Answer: Manage Quality

    Manage Quality (formerly Quality Assurance) audits quality requirements and results from quality control to ensure appropriate standards are used.

  6. In the predictive approach, what is the primary purpose of a kick-off meeting?

    Answer: Formally announce project start and align the team on objectives

    A kick-off meeting formally announces the project has begun and ensures all stakeholders share a common understanding of goals and plans.

  7. A project manager is applying the 80/20 rule during quality control to focus improvement efforts. Which tool is being used?

    Answer: Pareto chart

    A Pareto chart ranks defects from most to least frequent, helping teams focus on the vital few causes responsible for most problems.