CBM Project Management 2

Question 1

What does the Cost Performance Index (CPI) measure in Earned Value Management?

Accepted Answer

The ratio of Earned Value to Actual Cost incurred

Answer

The ratio of Actual Cost to the original budget

Answer

The total cost variance across all project phases

Answer

The forecasted total cost at project completion

Question 2

A RACI matrix is used in project management to:

Accepted Answer

Define roles by indicating who is Responsible, Accountable, Consulted, and Informed for each task

Answer

Identify and assess project risks by probability and impact

Answer

Track schedule performance against the project baseline

Answer

Document all approved project change requests

Question 3

What is the purpose of a risk register in project management?

Accepted Answer

To document identified risks, their probability and impact, and planned response strategies

Answer

To track the project's financial transactions and expenditures

Answer

To record all formal project change requests submitted by stakeholders

Answer

To list all project stakeholders and their communication preferences

Question 4

What is Earned Value (EV) in project management?

Accepted Answer

The budgeted cost of work that has actually been completed

Answer

The total amount of money actually spent on the project to date

Answer

The difference between planned budget and actual costs incurred

Answer

The projected total cost of the project at completion

Question 5

What is the key difference between a project deliverable and a project milestone?

Accepted Answer

A deliverable is a tangible output or result; a milestone is a significant checkpoint or event with zero duration

Answer

Deliverables are internal documents; milestones are external products delivered to customers

Answer

Milestones require dedicated budget; deliverables do not have separate budget allocations

Answer

Deliverables are measured in time elapsed; milestones are measured in cost expended

Question 6

What is the primary purpose of a project change control process?

Accepted Answer

To formally evaluate, approve, and document requested changes to scope, schedule, or budget before implementation

Answer

To track employee performance reviews during project execution

Answer

To automatically replace the project manager when performance issues arise

Answer

To extend project deadlines without stakeholder notification when necessary

Question 7

Resource leveling in project management refers to:

Accepted Answer

Adjusting the project schedule to resolve resource over-allocations or conflicts

Answer

Equalizing salary compensation among project team members

Answer

Distributing the project budget equally across all work packages

Answer

Assigning an identical number of tasks to each team member