Project Management Fundamentals Flashcards

A project manager is crashing the schedule. Which activities should receive additional resources first?

Answer: Critical path activities with the lowest cost to accelerate

Crashing adds resources to critical path activities that provide the greatest schedule reduction for the least additional cost.

What is the purpose of a RACI chart in project management?

Answer: Define roles and responsibilities for project activities

A RACI chart clarifies who is Responsible, Accountable, Consulted, and Informed for each project task or deliverable.

Which type of dependency between activities is MOST common in project schedules?

Answer: Finish-to-Start (FS)

Finish-to-Start means a successor activity cannot start until the predecessor has finished, which is the most common logical relationship.

A project is 50% complete, had a budget of $200,000, and has spent $120,000 so far. What is the Cost Variance (CV)?

Answer: -$20,000

EV = 50% × $200,000 = $100,000; AC = $120,000; CV = EV - AC = $100,000 - $120,000 = -$20,000 (over budget).

What is a key characteristic that distinguishes a project from ongoing operations?

Answer: Projects are temporary and produce a unique result

A project is defined as a temporary endeavor undertaken to create a unique product, service, or result, unlike repetitive operational work.

During which process is the project management plan formally approved and work authorized to begin?

Answer: Direct and Manage Project Work

Direct and Manage Project Work is the executing process where the approved plan is put into action and deliverables are produced.

A project manager uses Maslow's Hierarchy of Needs to motivate the team. Which need must be satisfied FIRST?

Answer: Physiological needs

Maslow's hierarchy starts with physiological needs (food, shelter, warmth) as the most fundamental, which must be met before higher-level needs.