CRE Project Planning and Management 3 — Questions and Answers
Question 1: A reliability project team uses a RACI chart. What does the 'A' in RACI stand for?
- Authorized
- Accountable (Correct answer)
- Assigned
- Auditing
Correct answer: Accountable
In a RACI matrix, 'Accountable' identifies the single person who owns the deliverable and must approve work before it is accepted.
Question 2: Which project management process group involves defining the scope, developing schedules, and estimating costs?
- Initiating
- Planning (Correct answer)
- Executing
- Monitoring and controlling
Correct answer: Planning
The Planning process group is where detailed scope, schedule, cost, quality, and risk plans are developed to guide project execution.
Question 3: In reliability project management, what is the purpose of a lessons-learned register?
- Track defect rates during production
- Capture knowledge from current project to improve future projects (Correct answer)
- Assign corrective actions to team members
- Document customer acceptance criteria
Correct answer: Capture knowledge from current project to improve future projects
A lessons-learned register records what worked and what did not so that future projects can benefit from accumulated organizational knowledge.
Question 4: A project has a budget at completion (BAC) of $500,000 and a cost performance index (CPI) of 0.80. What is the estimate at completion (EAC) using the CPI-based formula?
- $400,000
- $580,000
- $625,000 (Correct answer)
- $450,000
Correct answer: $625,000
EAC = BAC / CPI = $500,000 / 0.80 = $625,000, indicating the project will cost more than originally planned.
Question 5: Which stakeholder engagement strategy involves actively involving stakeholders in project decisions throughout the project lifecycle?
- Monitor
- Resistant
- Collaborate (Correct answer)
- Unaware
Correct answer: Collaborate
Stakeholders classified as requiring 'Collaborate' engagement are kept actively involved in decision-making to leverage their influence and gain their commitment.
Question 6: When a reliability project is terminated early, which process formally closes all contracts and documents final project performance?
- Perform integrated change control
- Close project or phase (Correct answer)
- Monitor and control project work
- Conduct procurements
Correct answer: Close project or phase
The Close Project or Phase process formally finalizes all activities, settles contracts, archives records, and releases resources regardless of whether the project completed normally or was terminated.
Question 7: Which technique breaks down deliverables into smaller, more manageable components to improve planning accuracy?
- Network diagramming
- Work breakdown structure (WBS) decomposition (Correct answer)
- Critical chain scheduling
- Parametric estimating
Correct answer: Work breakdown structure (WBS) decomposition
WBS decomposition subdivides project deliverables into work packages small enough to be accurately estimated and assigned.
CRE Project Planning and Management 3
A reliability project team uses a RACI chart.
What does the 'A' in RACI stand for?