2026 QUESTIONS WITH ANSWERS
GRADED A+
◍ Execute Phase.
Answer: Based on the plans created during the project planning phase, the
project team completes the required work activities in this phase
◍ Initiating (Process #1).
Answer: Define the project and determine which projects the organization
will undertake. These activities often occur prior to the selection of the
project team or the project manager.
◍ Executing Activities (Process #3 - Iterative).
Answer: Acquire resources, train/coach resources, communicate / manage
with stakeholders, implement plan, document change requests, assess
resource performance, and recognize / reward performance
◍ CPM (Critical path method).
Answer: Developed by DuPont to help with project in manufacturing.
Similar to PERT but assumes that estimates do not vary and time can be
reliably estimated
◍ Opportunity cost.
Answer: if the organization spends money on a project, then other possible
uses of the money would need to wait
◍ Net present value (NPV).
Answer: Calculate whether revenue tomorrow is greater than costs today
◍ Plan Phase.
Answer: Document information about each activity that will need to be
, completed in order for the project to achieve its intended outcomes
◍ Three-point formula for standard deviation.
Answer: (P-O) / 6. (Note: Result is +/- to result of activity)
◍ Top-down methods.
Answer: Ratio & Approtion
◍ Non-numeric project selection models.
Answer: Sacred cow, Competitive / Operating necessity. Not based on
traditional measures (ROI, profit, revenue, etc.).
◍ Cost variance (CV).
Answer: Determines if a project is meeting budget expectations
◍ Closing (Process #5).
Answer: Specific actions which need to occur in order to ensure that all
project activities are completed
◍ Score P*S.
Answer: A score to prioritize risks appropriately
◍ Monitor & Control (Process #4 - Iterative).
Answer: Assess whether project plan is implemented, outcomes and
deliverables are as expected. Also, to get the project team back on the plan
or make adjustments to the plan in order to achieve the desired outcomes
and deliverables
◍ Fast-tracking.
Answer: Alternative to schedule crashing where certain tasks are overlapped
despite their dependencies
◍ Which activity is preformed during the creating part of the initiating
process?.
Answer: Drafting project chater
◍ Disadvantages of Projectized.
Answer: PM must have enough work to keep SMEs busy full-time or risk
loss to another project or functional area. SME assigned may not have the