Project Management & Execution Flashcards

A manager sets aside 10% of a renovation budget for identified risks such as unexpected plumbing repairs. This fund is called a:

Answer: Contingency reserve

Contingency reserves cover known risks that may or may not happen during the project.

Which metric tells a manager how efficiently a project is using its budget?

Answer: Cost Performance Index (CPI = EV / AC)

A CPI below 1.0 means the project is getting less value than it is spending.

A daily 10-minute team huddle during a facility move mainly helps with:

Answer: Quickly sharing progress, blockers, and the day's priorities

Short stand-ups keep the team aligned and surface problems early.

While planning to move 60 boarded pets to a temporary location during flooring work, which task should be completed BEFORE the move begins?

Answer: Verifying the temporary site's capacity, vaccination-separation zones, and emergency procedures

The temporary site has to safely house and separate the animals before any are moved.

Adding extra features the client never asked for, such as heated floors in every run when they were not in scope, is called:

Answer: Gold plating

Gold plating adds unrequested work that consumes budget and time without approval.

Which factor is part of the classic 'triple constraint' of project management?

Answer: Scope, time, and cost

Scope, time, and cost are linked, so changing one affects the others and overall quality.

A vendor says the new kennel doors will arrive two weeks late, which pushes back a critical-path task. What should the project manager do FIRST?

Answer: Assess the schedule impact, explore alternatives, and notify stakeholders

Fast impact analysis and open stakeholder communication allow informed recovery decisions.