CAPM Predictive Methodologies 4

Question 1

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

Accepted Answer

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

Answer

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

Question 2

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

Accepted Answer

It relies on historical data that may not be comparable

Answer

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

Question 3

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

Accepted Answer

Transfer

Answer

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

Question 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)?

Accepted Answer

-$10,000

Answer

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

Question 5

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

Accepted Answer

Manage Quality

Answer

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

CAPM Practice Test

CAPM Practice Test

CAPM Predictive Methodologies 4