CCA CCA Construction Project Management and Controls 1

Question 1

Which project management tool is most commonly used by construction auditors to evaluate schedule performance against planned milestones?

Accepted Answer

Earned Value Management (EVM)

Answer

Earned Value Management integrates scope, schedule, and cost to give auditors a quantified view of project performance against the baseline.

Question 2

What does a Schedule Performance Index (SPI) value of 0.85 indicate to a construction auditor?

Accepted Answer

The project is 15% behind schedule

Answer

An SPI below 1.0 indicates the project is behind schedule, with 0.85 meaning only 85 cents of work completed for every dollar of work planned.

Question 3

A construction auditor reviewing internal controls would expect a project budget baseline to be formally established at which phase?

Accepted Answer

After contract award and scope finalization

Answer

The baseline budget must be locked after contract award and full scope definition so that any deviations can be objectively measured and audited.

Question 4

Which control document is the primary tool for tracking actual versus budgeted costs at the work package level on a construction project?

Accepted Answer

Cost Control Report (CCR)

Answer

A Cost Control Report breaks down actual versus budgeted expenditures at the work package level, giving auditors granular visibility into cost performance.

Question 5

When auditing a construction project's management controls, which red flag most strongly suggests inadequate budget oversight?

Accepted Answer

Frequent budget transfers between cost codes without documented justification

Answer

Undocumented budget transfers between cost codes mask true cost overruns and indicate weak controls or potential misappropriation.

(CCA) Certified Construction Auditor Practice Test

(CCA) Certified Construction Auditor Practice Test

CCA CCA Construction Project Management and Controls 1