PCC Decision Making & Problem Solving 2

Question 1

A project manager must choose between two cost-reduction strategies with uncertain outcomes. Which decision-making tool best quantifies the expected value of each option?

Accepted Answer

Decision tree analysis

Answer

Decision tree analysis calculates expected monetary value (EMV) by multiplying probability and impact for each branch, enabling objective comparison of uncertain options.

Question 2

During a cost performance review, the CPI drops to 0.82. What is the most appropriate first step for the project controls team?

Accepted Answer

Perform root cause analysis to identify the source of cost overrun

Answer

Root cause analysis identifies the underlying driver of the unfavorable CPI before any corrective action or escalation is taken.

Question 3

Which problem-solving approach is most appropriate when a project faces a recurring variance that defies initial corrective actions?

Accepted Answer

5 Whys technique

Answer

The 5 Whys technique iteratively drills down to the root cause of persistent problems by asking 'why' at each level of symptom.

Question 4

A project controls team must prioritize three unresolved issues with limited resources. Which analytical method ranks issues by their relative impact frequency?

Accepted Answer

Pareto analysis

Answer

Pareto analysis (80/20 rule) ranks issues by frequency or impact, allowing teams to focus resources on the vital few problems causing most of the harm.

Question 5

When evaluating corrective actions for a schedule delay, a project controls professional should FIRST consider which factor?

Accepted Answer

The corrective action's cost relative to the delay's impact

Answer

Evaluating cost versus impact ensures the corrective action is economically justified and proportionate to the problem being addressed.

(PCC) Project Controls Certification Practice Test

(PCC) Project Controls Certification Practice Test

PCC Decision Making & Problem Solving 2