CSM Project Management Fundamentals 3

Question 1

What does the term 'gold plating' refer to in project management?

Accepted Answer

Adding extra features or quality beyond what the customer requested

Answer

Gold plating is the practice of adding unnecessary features or enhancements beyond the agreed scope, which wastes resources and can introduce risk.

Question 2

A project has an Estimate at Completion (EAC) of $500,000 and a Budget at Completion (BAC) of $450,000. What does this indicate?

Accepted Answer

The project is expected to overrun the original budget by $50,000

Answer

When EAC exceeds BAC, the project is forecasted to cost more than originally budgeted, indicating a cost overrun.

Question 3

Which risk response strategy involves shifting the negative impact of a risk to a third party?

Accepted Answer

Transfer

Answer

Transferring risk shifts the financial impact or ownership to a third party, such as through insurance or outsourcing.

Question 4

What is the critical path in a project network diagram?

Accepted Answer

The longest path through the network that determines project duration

Answer

The critical path is the longest sequence of dependent activities and determines the minimum project completion time.

Question 5

In software project management, what is a 'sprint' most closely associated with?

Accepted Answer

A time-boxed iteration in Agile/Scrum methodology

Answer

A sprint is a fixed-length iteration (typically 1-4 weeks) in Scrum where a usable product increment is delivered.

(CSM) Certified Software Manager Practice Test