CBM Project Management 3

Question 1

What is the 'triple constraint' (Iron Triangle) in project management?

Accepted Answer

Scope, Schedule (Time), and Cost (Budget)

Answer

Quality, Risk, and Stakeholder satisfaction

Answer

People, Process, and Technology

Answer

Planning, Execution, and Control

Question 2

What is a project baseline?

Accepted Answer

The approved version of the scope, schedule, and cost plan used to measure project performance

Answer

The minimum acceptable quality standard for project deliverables

Answer

The initial stakeholder wish list captured before formal project planning begins

Answer

The lowest budget level below which the project cannot proceed

Question 3

What does PMBOK stand for?

Accepted Answer

Project Management Body of Knowledge

Answer

Project Manager's Book of Knowledge

Answer

Professional Management Best Operating Knowledge

Answer

Program Management Business Operations Knowledgebase

Question 4

During project closing, lessons learned documentation primarily serves to:

Accepted Answer

Capture knowledge from the completed project to improve future project performance

Answer

Justify budget variances to project sponsors and executives

Answer

Formally terminate all vendor contracts and procurement agreements

Answer

Archive financial records for external audit and compliance purposes

Question 5

What is a project portfolio in the context of organizational project management?

Accepted Answer

A collection of projects, programs, and operations managed as a group to achieve strategic business objectives

Answer

A collection of planning documents related to a single large complex project

Answer

The financial investment plan and funding schedule for a single project

Answer

A summary report of all projects completed by the organization in the prior year

Question 6

What is 'float' (also called slack) in project scheduling?

Accepted Answer

The amount of time a task can be delayed without delaying the overall project completion date

Answer

Extra budget reserved to cover unexpected project cost overruns

Answer

Buffer time added at the start of each project phase as contingency

Answer

The variance between the planned and actual costs for a given task

Question 7

Which organizational structure gives a project manager the MOST authority and resource control?

Accepted Answer

Projectized organization

Answer

Functional organization

Answer

Weak matrix organization

Answer

Balanced matrix organization