Fundamentals Of Project Management Flashcards
7 cards from real Project Management practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Fundamentals Of Project Management flashcards as text
The critical path in a project schedule is defined as:
Answer: The longest sequence of dependent activities that determines the project's minimum duration
The critical path is the longest path through the network diagram and determines the earliest the project can finish.
What is 'float' (also called slack) in a project schedule?
Answer: The amount of time an activity can be delayed without delaying the project finish date
Float (or slack) is the flexibility in scheduling a non-critical activity without impacting the overall project end date.
Which estimating technique uses actual costs from similar past projects as the basis for estimating the current project?
Answer: Analogous estimating
Analogous estimating uses historical data from similar projects to estimate duration or cost.
A RACI chart is a tool used to:
Answer: Clarify roles and responsibilities for project activities
A RACI chart defines who is Responsible, Accountable, Consulted, and Informed for each task or decision.
What is the difference between a project and a program?
Answer: A program is a group of related projects managed in a coordinated way to obtain benefits not available from managing them individually
A program consists of related projects managed together to realize strategic benefits and coordination advantages.
What is the purpose of a lessons learned register?
Answer: To capture knowledge gained during the project for use on current and future projects
Lessons learned documents capture what went well and what could be improved so future projects can benefit from the experience.
When a project manager identifies a risk and decides to do nothing about it because the probability or impact is very low, this is called:
Answer: Risk acceptance
Risk acceptance means acknowledging a risk and choosing not to take action, often because the cost of addressing it outweighs the benefit.