MAC Project Management Fundamentals 2 — Questions and Answers
Question 1: In marketing analytics projects, what does a Work Breakdown Structure (WBS) primarily help a project manager accomplish?
- Assign budget to each team member
- Decompose project scope into manageable deliverables (Correct answer)
- Track daily standup attendance
- Define the communication plan
Correct answer: Decompose project scope into manageable deliverables
A WBS breaks the total project scope into smaller, manageable components called work packages, making planning and control easier.
Question 2: Which project management approach is BEST suited for a marketing analytics initiative where requirements are unclear and likely to evolve?
- Waterfall
- Critical Path Method
- Agile/Scrum (Correct answer)
- PRINCE2
Correct answer: Agile/Scrum
Agile accommodates evolving requirements through iterative sprints, making it ideal when analytics deliverables and insights shift frequently.
Question 3: A project manager notices that the Cost Performance Index (CPI) for a campaign analytics project is 0.85. What does this indicate?
- The project is 15% under budget
- The project is getting $0.85 of value per dollar spent (Correct answer)
- The project is 15% ahead of schedule
- The project has a 15% quality defect rate
Correct answer: The project is getting $0.85 of value per dollar spent
A CPI below 1.0 means the project is over budget—only $0.85 of earned value is being generated for every $1.00 spent.
Question 4: During a marketing analytics project kickoff, the sponsor requests a document that formally authorizes the project and names the project manager. This document is called a:
- Project scope statement
- Project charter (Correct answer)
- Risk register
- Stakeholder matrix
Correct answer: Project charter
The project charter formally authorizes a project, defines high-level objectives, and grants the project manager authority to use organizational resources.
Question 5: Which risk response strategy involves shifting the negative impact of a risk to a third party, such as purchasing analytics software insurance?
- Avoid
- Mitigate
- Accept
- Transfer (Correct answer)
Correct answer: Transfer
Risk transfer moves the financial or operational consequence of a risk to another party, such as an insurer or vendor.
Question 6: A marketing analytics project team is using a RACI chart. What does the 'C' stand for, and what is that person's role?
- Completed — the task is done
- Consulted — provides input before decisions are made (Correct answer)
- Controlled — monitors quality
- Confirmed — approves the output
Correct answer: Consulted — provides input before decisions are made
In a RACI matrix, 'Consulted' refers to subject-matter experts whose input is sought before key decisions or deliverables are finalized.
Question 7: What is the purpose of a project baseline in a marketing analytics initiative?
- To set the minimum acceptable data quality threshold
- To provide an approved reference point for scope, schedule, and cost (Correct answer)
- To document lessons learned at project close
- To list all approved vendors
Correct answer: To provide an approved reference point for scope, schedule, and cost
A project baseline is the approved plan against which actual performance is measured and deviations are identified.
MAC Project Management Fundamentals 2
In marketing analytics projects, what does a Work Breakdown Structure (WBS) primarily help a project manager accomplish?