PK0-005 Practice Test 45 — 15 Questions

Question 1

Which cost estimation technique uses historical data from similar projects to estimate the cost of the current project?

Accepted Answer

Analogous estimating. Analogous estimating uses historical cost data from similar past projects as the basis for estimating the current project's cost. It is typically used early in a project when detailed information is scarce, and it relies on expert judgment and analogy rather than granular decomposition.

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Parametric estimating

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Bottom-up estimating

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Three-point estimating

Question 2

In a RACI matrix, which role is ultimately accountable for the successful completion of a task?

Accepted Answer

Accountable. In a RACI matrix, the Accountable role is the single person ultimately answerable for the task's success or failure. They own the outcome and have the authority to approve the work, even if they delegate the actual doing to others. This is why the 'A' is often described as 'the buck stops here.'

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Consulted

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Informed

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Responsible

Question 3

A project has a budget at completion (BAC) of $200,000. The earned value (EV) is $100,000, and the actual cost (AC) is $120,000. What is the estimate at completion (EAC) assuming the current cost performance index (CPI) will remain the same?

Accepted Answer

$240,000. EAC is calculated as BAC / CPI when the current cost performance index is expected to continue. CPI = EV / AC = 100,000 / 120,000 = 0.8333. Therefore EAC = 200,000 / 0.8333 = $240,000. This reflects the projected total cost if the current cost inefficiency persists.

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$180,000

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$220,000

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$250,000

Question 4

A project manager is selecting two documents that are essential for defining project scope. Which TWO documents should they choose?

Accepted Answer

Work breakdown structure (WBS). The scope statement (D) is correct because it formally documents the project's deliverables, boundaries, acceptance criteria, and exclusions, serving as the authoritative baseline definition of what is and is not in scope. The work breakdown structure (C) is correct because it decomposes the approved scope into hierarchical, manageable work packages, translating the scope statement into a deliverable-oriented framework that guides planning and control. Together these two documents define scope (scope statement) and organize it (WBS), which is why they are the essential pair for scope definition. The communication plan (A) governs information distribution and reporting, the risk register (B) tracks identified risks and responses, and the RACI matrix (E) clarifies roles and responsibilities—none of these define or decompose project scope, so they do not belong here.

Answer

Communication plan

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Risk register

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RACI matrix

Question 5

An agile team uses story points for estimating effort. During sprint planning, the team's average velocity is 30 story points per sprint. The product owner wants to commit to 35 story points for the upcoming sprint. What should the team do?

Accepted Answer

Commit to 30 story points based on historical velocity.. Velocity is the team's historical throughput, and committing to more than average velocity without a concrete capacity change sets the sprint up for failure. The team should commit to 30 story points based on demonstrated velocity, and if the product owner wants more, the backlog or team capacity must be renegotiated.

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Remove the definition of done to save time.

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Increase the sprint duration to accommodate more points.

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Accept the 35 story points to satisfy the product owner.

Question 6

A project team is performing quantitative risk analysis using a technique that runs thousands of simulations to determine the probability of completing the project on a specific date. Which technique is being used?

Accepted Answer

Monte Carlo simulation. Monte Carlo simulation is a quantitative risk analysis technique that runs thousands (or tens of thousands) of iterations using probability distributions for cost and schedule variables to produce a probability distribution of project completion dates. It answers questions like 'what is the probability of finishing by date X?' by sampling from input distributions. This matches the question's description exactly.

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Sensitivity analysis

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SWOT analysis

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Decision tree analysis

Question 7

A project manager is evaluating the financial viability of several proposed projects. The steering committee wants to select projects that maximize return over time. Which TWO financial metrics should the project manager use to compare long-term profitability? (Select TWO).

Accepted Answer

Net Present Value (NPV). Net Present Value (NPV) is correct because it discounts all future cash inflows and outflows to present value using the organization's cost of capital, giving a direct dollar measure of the project's long-term value creation; projects with higher positive NPV maximize return over time. Internal Rate of Return (IRR) is correct because it expresses the discount rate at which a project's NPV equals zero, allowing comparison of projects' annualized percentage returns over their full life spans, which supports long-term profitability ranking. Payback Period is not marked correct because it only measures how quickly the initial investment is recovered and ignores cash flows after the payback date and the time value of money. Return on Investment (ROI) is not marked correct because it is a simple ratio of net benefits to costs that does not discount future cash flows or capture project duration. Cost-Benefit Analysis is not marked correct because it is a general appraisal framework rather than a specific discounted cash-flow profitability metric.

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Payback Period

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Return on Investment (ROI)

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Cost-Benefit Analysis

Question 8

Which document is used to record and track changes to project scope and their approval status?

Accepted Answer

Change log. The change log is the correct document for recording and tracking changes to project scope and their approval status. It serves as a formal, chronological record of all scope change requests, including the date, description, impact analysis, and final disposition (approved, rejected, deferred). This aligns with the PMI's Project Management Body of Knowledge (PMBOK) guidance for the Perform Integrated Change Control process.

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Lessons learned

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Issue log

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Risk register

Question 9

A project manager is evaluating whether to proceed with a project that has a net present value (NPV) of -$10,000, an internal rate of return (IRR) of 4%, and a payback period of 3 years. The company's required rate of return is 6%. What should the project manager recommend?

Accepted Answer

Reject the project because it does not meet financial criteria.. The project has a negative NPV (-$10,000) and an IRR (4%) that is lower than the company's required rate of return (6%). Both of these financial criteria indicate the project will destroy value rather than create it. Therefore, the project manager should recommend rejecting the project based on standard capital budgeting principles.

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Defer the decision until a qualitative analysis is completed.

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Accept the project because the payback period is less than 5 years.

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Request additional funding to improve the NPV.

Question 10

A project has a planned value (PV) of $50,000, earned value (EV) of $40,000, and actual cost (AC) of $45,000. What is the schedule variance (SV) and cost variance (CV)?

Accepted Answer

SV = -$10,000, CV = -$5,000. Schedule variance (SV) is calculated as EV - PV = $40,000 - $50,000 = -$10,000, indicating the project is behind schedule. Cost variance (CV) is EV - AC = $40,000 - $45,000 = -$5,000, indicating the project is over budget. Option D correctly states both negative variances.

Answer

SV = -$5,000, CV = -$10,000

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SV = -$10,000, CV = $5,000

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SV = $10,000, CV = $5,000

Question 11

During project execution, a key stakeholder requests a new feature that was not in the original scope. The project manager is concerned about the impact on the schedule and budget. This is an example of:

Accepted Answer

Scope creep. Scope creep is the uncontrolled expansion of project scope — adding features or requirements without going through formal change control, which directly threatens schedule and budget baselines. Because the stakeholder made an informal request outside the original scope and the PM is worried about impacts, this is the textbook definition of scope creep.

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Risk management

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Gold plating

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Change control

Question 12

In which organizational structure does the project manager have the least authority over project resources?

Accepted Answer

Functional. In a functional organizational structure, staff are grouped by specialty (e.g., IT, finance, HR) and report to functional managers who control budgets, resources, and assignments. The project manager has little to no formal authority and must negotiate for resources, often acting more as a coordinator. This is the weakest PM authority position on the classic PM authority spectrum: Functional < Weak Matrix < Balanced Matrix < Strong Matrix < Projectized.

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Projectized

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Balanced matrix

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Strong matrix

Question 13

A project manager is estimating the cost of a software development project. She uses the actual cost of a similar past project and adjusts it for known differences in size and complexity. Which cost estimation technique is she using?

Accepted Answer

Analogous estimation. Analogous estimation uses historical data from a similar past project as the basis for estimating the current project's cost, then adjusts for known differences in size, complexity, or scope. This is exactly what the project manager is doing — referencing actual costs of a comparable project and scaling them. It is a top-down, expert-judgment-driven technique that is fast but less accurate than detailed methods.

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Parametric estimation

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Three-point estimation

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Bottom-up estimation

Question 14

Which diagram is used in quality management to prioritize the most significant causes of a problem, based on the 80/20 rule?

Accepted Answer

Pareto chart. A Pareto chart is a bar chart ordered by frequency of occurrence, combined with a cumulative percentage line, used to identify the 'vital few' causes that account for roughly 80% of problems (the 80/20 rule). It helps quality teams prioritize improvement efforts by focusing on the most significant causes. The bars are sorted from highest to lowest frequency, making the largest contributors immediately visible.

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Fishbone diagram

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Histogram

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Run chart

Question 15

Which agile artifact contains the prioritized list of all desired work for a product?

Accepted Answer

Product backlog. The product backlog is the single, prioritized list of all desired work for a product, owned and continuously refined by the Product Owner. It contains features, enhancements, bug fixes, and technical work ordered by business value, and it serves as the master source from which sprint backlogs are drawn. Because it is prioritized and comprehensive, it matches the question's definition exactly.

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Burndown chart

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Sprint backlog

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Definition of done