MTDE 333 FINAL EXAM QUESTIONS
AND ANSWERS GRADED A+ 2025/2026
In the PERT method, the Standard Deviation (σ) of the project duration can be calculated as: -
ANS The SQRT of the sum of the Variances of critical activities
The Program Evaluation Review Technique (PERT) relies on the theorem known as .... to
incorporate uncertainty on the project duration. - ANS CLT
In project management, the variability of an activity duration can be represented as a
Probability Distribution Curve (T/F) - ANS True
The cost estimating method named "Cost Engineering" is also known as: - ANS Detailed Cost
Estimating
Which project life cycle phase would be more suitable for the "Analogy" cost estimating
method? - ANS Conception
As a project progresses
through its life cycle, its definition and cost estimate experience changes: - ANS Level of
Detail INCREASES / Accuracy INCREASES
The project below is at the end of week 12. What can be inferred about the project's
performance based on the reported expense curve? (In the picture the current curve is above
the early start curve) - ANS The project is spending faster than planned
1 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
, A project is entirely self-financed when both the net and maximum curves are below the X-axis
of the cashflow diagram (T/F) - ANS False
A project cost control account contains information from 2 management structures: -
ANS WBS & OBS
When a project manager delays payments to vendors and subcontractors is most likely trying to:
- ANS Improve the net cash flow of the project
A project's cost estimate, once approved, is called: - ANS Project's Budget
The lowest point in a cashflow diagram is called: - ANS Maximum Overdraft
During the risk identification phase, an aerospace design project's manager (PM) realizes the
fuselage material may not be reliable. What type of risk is the PM concerned about? -
ANS Project (Internal Source) - Technical Risk
What are the two main Cost of Quality (CoQ) categories? - ANS Cost of Conformance and
Cost of Non-conformance
Risk identification is a phase of Project Risk Management that estimates the impact and
probability of an adverse event. (T/F) - ANS False
Which statement is TRUE about schedule contingency: - ANS It is a time reserve known and
managed by the project's leadership team and is not communicated to the project team.
A project manager (PM) realizes that a major piece of equipment to be installed as part of her
project will likely be damaged during its transportation from Thailand to the US. The PM
purchases insurance to cover a potential loss/damage. What type of risk response strategies are
PM using? - ANS Risk Transfer
2 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
AND ANSWERS GRADED A+ 2025/2026
In the PERT method, the Standard Deviation (σ) of the project duration can be calculated as: -
ANS The SQRT of the sum of the Variances of critical activities
The Program Evaluation Review Technique (PERT) relies on the theorem known as .... to
incorporate uncertainty on the project duration. - ANS CLT
In project management, the variability of an activity duration can be represented as a
Probability Distribution Curve (T/F) - ANS True
The cost estimating method named "Cost Engineering" is also known as: - ANS Detailed Cost
Estimating
Which project life cycle phase would be more suitable for the "Analogy" cost estimating
method? - ANS Conception
As a project progresses
through its life cycle, its definition and cost estimate experience changes: - ANS Level of
Detail INCREASES / Accuracy INCREASES
The project below is at the end of week 12. What can be inferred about the project's
performance based on the reported expense curve? (In the picture the current curve is above
the early start curve) - ANS The project is spending faster than planned
1 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
, A project is entirely self-financed when both the net and maximum curves are below the X-axis
of the cashflow diagram (T/F) - ANS False
A project cost control account contains information from 2 management structures: -
ANS WBS & OBS
When a project manager delays payments to vendors and subcontractors is most likely trying to:
- ANS Improve the net cash flow of the project
A project's cost estimate, once approved, is called: - ANS Project's Budget
The lowest point in a cashflow diagram is called: - ANS Maximum Overdraft
During the risk identification phase, an aerospace design project's manager (PM) realizes the
fuselage material may not be reliable. What type of risk is the PM concerned about? -
ANS Project (Internal Source) - Technical Risk
What are the two main Cost of Quality (CoQ) categories? - ANS Cost of Conformance and
Cost of Non-conformance
Risk identification is a phase of Project Risk Management that estimates the impact and
probability of an adverse event. (T/F) - ANS False
Which statement is TRUE about schedule contingency: - ANS It is a time reserve known and
managed by the project's leadership team and is not communicated to the project team.
A project manager (PM) realizes that a major piece of equipment to be installed as part of her
project will likely be damaged during its transportation from Thailand to the US. The PM
purchases insurance to cover a potential loss/damage. What type of risk response strategies are
PM using? - ANS Risk Transfer
2 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
