← All CRE Flashcard Decks

Project Planning and Management Flashcards

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

Read the first 7 Project Planning and Management flashcards as text
  1. A reliability engineer notices that a key supplier is consistently late. Which risk response strategy involves shifting the negative impact to a third party?

    Answer: Transfer

    Risk transfer shifts the financial or operational consequences of a risk to a third party, such as through insurance or contract penalty clauses.

  2. In project resource management, what is resource leveling?

    Answer: Adjusting the schedule to resolve resource over-allocation or conflicts

    Resource leveling modifies the project schedule to balance resource demand against supply, which may extend the project duration.

  3. Which communication model element represents the potential for misunderstanding due to ambiguous language or cultural differences?

    Answer: Noise

    Noise refers to any interference — linguistic, cultural, technical, or environmental — that distorts or hinders accurate message transmission.

  4. A project manager calculates that the project has a 40-day float on an activity. What does this mean?

    Answer: The activity can be delayed up to 40 days without delaying the project finish

    Float (slack) is the amount of time an activity can be delayed without affecting the overall project completion date.

  5. Which quality management approach focuses on designing processes to prevent defects rather than detecting them after the fact?

    Answer: Quality assurance

    Quality assurance focuses on process improvement and defect prevention by ensuring that defined quality processes are followed correctly.

  6. In the context of CRE project management, what is a 'tollgate review'?

    Answer: A formal checkpoint where project continuation is approved before moving to the next phase

    Tollgate reviews are structured phase-gate checkpoints where management evaluates project health and formally approves progression to the next phase.

  7. Which contract type places the most cost risk on the buyer (owner)?

    Answer: Cost plus fixed fee (CPFF)

    In a cost-plus contract, the buyer reimburses all allowable costs plus a fee, exposing the buyer to unlimited cost growth if costs are not managed.