Question 1

Your project sponsor has asked for an update so she can advise her executive team on the project progress. What will you tell her if your project has an EV of $98,000, PV of $90,000 and AC of $85,000? You are:

A)  Ahead of planned schedule and under budget
B)  Behind planned schedule and under budget
C)  Ahead of planned schedule and over budget
D)  Behind schedule and over budget

Question 2

The Estimate at Completion (EAC) is the forecast cost of the project once finished. Your project has a budget of $100,000, and 30% of the work has been completed against 40% planned. You have spent $40,000 so far. If future work will be accomplished at the planned rate, Estimate At Completion (EAC) would be:

A)  $90,000
B)  $140,000
C)  $70,000
D)  $110,000

Question 3

You have gathered the requirements and scope for your project, broken them down into work packages for your project teams and then into activities that need to be completed and scheduled. What will you use to find the minimum duration for your project, and any flexibility you have between activities?

A)  Qualitative analysis
B)  Critical path method
C)  Resource leveling
D)  Variance analysis

Question 4

You are in charge of a new building project where the project plan is in place and work is currently in progress. A critical concreting task is coming up in the next three months. Your company employs concreters specifically for this type of work. When asking them about their availability they do not wish to commit and cannot give a straight answer. What should you do next?

A)  Review the project milestone list and put concreting later in the project to allow you time to get the right people.
B)  Review the issue register and raise the lack of resources in the issue log.
C)  Review the project scope and remove concreting for now to avoid the conflict.
D)  Review the project resource calendars regarding their availability, then have the right conversation with their leader to bring them on board at the right time.

Question 5

You are working through the schedule for your project after gathering the requirements, scope, breaking them down into work packages and then activities. You now need to estimate how long each activity will take, so you can place them in your Gantt Chart. What should you do next?

A)  Use your best guess for each and estimate for each activity so you can complete your Gantt Chart quickly
B)  Involve people who will be doing the work to get estimates
C)  Ask your boss to estimate, that way they will have to explain if it’s wrong
D)  Write down each activity time without buffers – it will look more accurate this way