Project Management & Execution Flashcards

In earned value management, a CPI of 0.85 indicates the project is:

Answer: Over budget

CPI below 1.0 means each dollar spent earns less than a dollar of value, so over budget.

EV is $40,000, PV is $50,000, and AC is $45,000. What is the schedule variance (SV)?

Answer: −$10,000

SV = EV − PV = 40,000 − 50,000 = −$10,000, meaning behind schedule.

Which risk response involves shifting the impact of a threat to a third party, such as through insurance?

Answer: Transfer

Transfer moves the impact and ownership of a risk to a third party, often via contract or insurance.

What does a RACI matrix clarify?

Answer: Roles and responsibilities for activities

RACI maps who is Responsible, Accountable, Consulted, and Informed for each activity.

Which dependency type means a successor cannot start until its predecessor finishes?

Answer: Finish-to-start

Finish-to-start is the most common logical relationship between activities.

A project manager holds a meeting at the end of each phase to capture what went well and what did not. This is:

Answer: Lessons learned review

Lessons learned sessions capture knowledge for use in future phases and projects.

Which is a characteristic of a project, as opposed to ongoing operations?

Answer: Temporary with a defined start and end

Projects are temporary endeavors that create a unique product, service, or result.