PK0-005 Practice Exam 53 — 20 Questions

Question 1

A project manager identifies a risk that a critical vendor may not deliver on time. The project manager decides to document the risk and monitor it closely, but does not take any proactive action. This is an example of which risk response?

Choose an answer to begin — your selection is scored in the full session.

Accepted Answer

Accept. The project manager has identified a risk (vendor may not deliver on time) and decided to document it and monitor it without taking any proactive action. This is the definition of an 'Accept' risk response, where the risk is acknowledged and a contingency plan may be in place, but no active steps are taken to reduce the probability or impact beforehand. In the context of the PK0-005 exam, this is a passive acceptance strategy, often used when the cost of mitigation exceeds the potential impact or when the risk is low enough to be tolerated.

Answer

Avoid

Answer

Mitigate

Answer

Transfer

Question 2

A project manager is assigned to upgrade the firewall for a company with multiple branch offices. The project charter has been approved, but the budget is tight. Which cost control technique should the project manager use to ensure expenses remain within budget?

Accepted Answer

Earned value management (EVM). Earned value management (EVM) is the correct technique because it integrates scope, schedule, and cost data to provide objective performance metrics (e.g., Cost Performance Index, Schedule Performance Index) that allow the project manager to continuously monitor and control expenses against the approved budget. For a firewall upgrade with multiple branch offices, EVM helps detect cost overruns early by comparing planned value (PV), earned value (EV), and actual cost (AC), enabling corrective actions before the tight budget is exceeded.

Answer

Reserve analysis

Answer

Bottom-up estimating

Answer

Parametric modeling

Question 3

A project manager is leading a software development project. The client requests a feature change that will add two weeks to the schedule and increase costs by $10,000. The project manager evaluates the impact and presents options to the change control board. The board approves the change but the project sponsor expresses concern about the budget. What should the project manager do next?

Accepted Answer

Update the project management plan and baseline to reflect the change. The change control board (CCB) has approved the change, making it an authorized modification. The project manager must now update the project management plan and baseline to formally incorporate the approved change, ensuring the schedule and budget reflect the new scope. The sponsor's concern is noted but does not override the CCB's decision; the PM should address the concern through communication and reporting, not by halting the process.

Answer

Cancel the change until the sponsor is satisfied

Answer

Proceed with the original plan and ignore the sponsor's concern

Answer

Escalate the sponsor's concern to the change control board

Question 4

A project manager is managing an agile project. The team uses iterative development and daily stand-up meetings. Which of the following is a key principle of agile project management?

Accepted Answer

Customer collaboration over contract negotiation. The Agile Manifesto prioritizes customer collaboration over contract negotiation, meaning the project team works closely with the customer to refine requirements and deliver value iteratively. In an agile project with daily stand-ups and iterative development, this principle ensures continuous feedback and adaptation rather than rigid adherence to a contract.

Answer

Comprehensive documentation

Answer

Following a detailed plan

Answer

Sequential phases

Question 5

A project has a budget of $500,000 and is 40% complete. The actual cost incurred is $250,000. What is the cost variance?

Accepted Answer

-$50,000. Cost variance (CV) is calculated as Earned Value (EV) minus Actual Cost (AC). EV is 40% of the $500,000 budget, which equals $200,000. AC is $250,000, so CV = $200,000 - $250,000 = -$50,000. A negative CV indicates the project is over budget.

Answer

-$20,000

Answer

$20,000

Answer

$50,000

Question 6

During a project status meeting, a stakeholder requests a report showing the variance of actual costs from the planned budget. Which metric should the project manager include?

Accepted Answer

Cost variance (CV). Cost variance (CV) is the direct measure of the difference between the earned value (EV) and the actual cost (AC), showing exactly how actual costs deviate from the planned budget. Since the stakeholder specifically requests a report on variance of actual costs from the planned budget, CV is the correct metric. CV = EV - AC, where a negative value indicates overspending.

Answer

Schedule performance index (SPI)

Answer

Cost performance index (CPI)

Answer

Schedule variance (SV)

Question 7

A project manager needs to determine the project's success criteria before the project is initiated. Which document should contain these criteria?

Accepted Answer

Project charter. The project charter is the document that formally authorizes the project and defines high-level success criteria, including measurable project objectives and key stakeholder expectations. According to the PMBOK Guide, the project charter is created during the Initiating process group and must contain the business case, high-level risks, and the criteria that will be used to determine whether the project is successful. Without these criteria defined in the charter, there is no agreed-upon baseline for evaluating project performance or closure.

Answer

Project schedule

Answer

Risk register

Answer

Lessons learned

Question 8

A project is experiencing scope creep because stakeholders are requesting additional features without formal change control. What is the best course of action for the project manager to prevent this?

Accepted Answer

Implement a formal change control process and require approval for all changes.. Scope creep is best prevented by implementing a formal change control process that requires all changes to be reviewed and approved before integration. This ensures that every additional feature is evaluated for impact on scope, schedule, budget, and quality, aligning with the project management plan and preventing uncontrolled expansion of project deliverables.

Answer

Add the features and update the project schedule.

Answer

Reject all changes immediately.

Answer

Escalate to the project sponsor without discussion.

Question 9

During project execution, a team member reports that a key deliverable will be delayed because a required component is out of stock. The project manager updates the issue log and meets with the team to evaluate alternatives. Which project management process is being performed?

Accepted Answer

Direct and Manage Project Work. The scenario describes the project manager updating the issue log and meeting with the team to evaluate alternatives for a delayed deliverable. This is the core of the 'Direct and Manage Project Work' process, which involves executing the project management plan, performing activities to produce deliverables, and managing issues as they arise. The PM is actively directing the work by addressing the issue and exploring options, not yet controlling or changing baselines.

Answer

Close Project or Phase

Answer

Perform Integrated Change Control

Answer

Monitor and Control Project Work

Question 10

During project execution, a key stakeholder requests a change that would require additional funding. The project manager should:

Accepted Answer

Submit the change request to the change control board. In project management, any change that impacts the budget must follow the formal change control process. The project manager should submit the change request to the change control board (CCB) for evaluation and approval, as the CCB has the authority to approve or reject changes that affect cost, scope, or schedule. This ensures that all impacts are assessed and that the project remains aligned with its baseline.

Answer

Ask the sponsor for approval

Answer

Refuse the change because it increases cost

Answer

Implement the change immediately

Question 11

Which of the following BEST describes the role of a project sponsor?

Accepted Answer

Provides funding and champions the project. The project sponsor is the executive-level individual who provides the financial resources and organizational authority for the project. They champion the project at the highest levels, remove roadblocks, and ensure alignment with business strategy, but they are not involved in the day-to-day management or quality assurance tasks.

Answer

Performs quality assurance

Answer

Manages the project team

Answer

Oversees day-to-day project activities

Question 12

A project manager is leading a team in a functional organization. Which statement BEST describes the project manager's authority?

Accepted Answer

The project manager has limited authority and acts as a coordinator.. In a functional organization, the project manager's role is primarily that of a coordinator or expediter, with limited authority over project resources and team members. Functional managers retain authority over personnel and budget, leaving the project manager to facilitate communication and track progress without direct control.

Answer

The project manager has full authority over project resources.

Answer

The project manager shares authority with functional managers.

Answer

The project manager has authority only over project budget.

Question 13

A project manager is preparing a project charter. Which of the following should be included in the charter?

Accepted Answer

The business case and high-level project description.. The project charter is a high-level document that authorizes the project and provides the project manager with the authority to apply organizational resources. It must include the business case and a high-level project description to justify the project and define its scope at a strategic level, as specified in the PMBOK Guide.

Answer

A complete work breakdown structure (WBS).

Answer

A detailed project schedule with milestones.

Answer

A comprehensive risk register.

Question 14

You are the project manager for a software upgrade project at a mid-sized company. The project has a budget of $500,000 and a timeline of 12 months. The team consists of 10 members, including developers, testers, and a business analyst. The project is in month 8, and the team has completed 60% of the work but has spent $400,000. The sponsor is concerned about the budget overrun and asks for a recovery plan. The original estimate at completion (EAC) was $500,000. Using earned value management, you calculate the cost performance index (CPI) is 0.75 and the schedule performance index (SPI) is 0.90. The team is demoralized due to scope creep and unclear requirements. The business analyst recently left, and the replacement is not yet fully onboarded. Which of the following is the BEST course of action to bring the project back on track?

Accepted Answer

Conduct a scope review with the sponsor and key stakeholders to prioritize remaining features and freeze requirements.. The root cause of the budget overrun and schedule delay is scope creep and unclear requirements, which have demoralized the team and led to inefficient work. By conducting a scope review with the sponsor and stakeholders to prioritize remaining features and freeze requirements, you directly address the source of rework and wasted effort. This action stabilizes the project baseline, allowing the team to focus on delivering the highest-value work within the remaining budget and timeline, and it prevents further uncontrolled changes that would worsen the CPI and SPI.

Answer

Outsource the remaining development work to a vendor to accelerate completion.

Answer

Immediately reduce the team size to cut costs and ask the remaining team to work overtime.

Answer

Request an additional budget of $100,000 from the sponsor and extend the schedule by two months.

Question 15

During project execution, a team member reports that a key deliverable will be delayed by two weeks due to an unforeseen technical issue. The project manager evaluates the change and determines the impact on the critical path. According to best practices, what should the project manager do first?

Accepted Answer

Analyze the impact on the project schedule and cost, then submit a change request.. Upon identifying a delay that impacts the critical path, the project manager must first analyze the full impact on schedule and cost before formally documenting the change. Submitting a change request initiates the formal change control process, ensuring that all stakeholders review and approve adjustments before any plan updates or actions are taken. This aligns with the PMBOK Guide's integrated change control process, which requires impact analysis as the first step after identifying a potential change.

Answer

Update the project plan and inform stakeholders after the delay occurs.

Answer

Tell the team member to work overtime to meet the original deadline.

Answer

Immediately inform the sponsor and request a budget increase.

Question 16

A project to implement a new CRM system is behind schedule due to unexpected technical issues. The project manager decides to fast-track the project by overlapping phases. Which risk is most likely to occur?

Accepted Answer

Rework because of incomplete deliverables. Fast-tracking involves overlapping project phases that were originally planned to be sequential. When phases are overlapped, a downstream phase may begin before the deliverables from the preceding phase are fully complete and verified. This increases the probability that incomplete or unvalidated work will need to be redone, leading to rework. In a CRM system implementation, for example, starting the configuration phase before requirements are fully signed off often results in costly reconfiguration later.

Answer

Resource conflicts

Answer

Decreased stakeholder satisfaction

Answer

Increased cost due to overtime

Question 17

During scope verification, the project manager requests formal acceptance of a deliverable from the customer. The customer refuses to sign, stating the deliverable does not meet acceptance criteria. What should the project manager do next?

Accepted Answer

Document the issue and initiate a change request to correct the deliverable. When a customer refuses formal acceptance because the deliverable does not meet acceptance criteria, the PM must document the issue and initiate a change request to correct the deliverable. This follows the integrated change control process: the gap between delivered and required is a defect or change that must be formally evaluated, approved, and implemented. Simply moving on or escalating without documentation bypasses proper governance.

Answer

Accept the refusal and move on to other deliverables

Answer

Ask the customer to reconsider because the deliverable meets the scope statement

Answer

Escalate to senior management immediately

Question 18

During project planning, the team creates a work breakdown structure (WBS). Which of the following best describes the purpose of the WBS?

Accepted Answer

To break down the project scope into manageable work packages. The WBS decomposes the total project scope into smaller, more manageable components called work packages. This hierarchical decomposition ensures that all deliverables and work required to complete the project are identified and organized, which is the primary purpose of the WBS in project planning.

Answer

To estimate project costs

Answer

To document the project assumptions

Answer

To define the project schedule

Question 19

A project team member consistently misses deadlines and produces low-quality work. The project manager wants to address the issue without demotivating the team member. What is the appropriate first step?

Accepted Answer

Schedule a private meeting to discuss performance concerns. Addressing performance issues in a private, respectful manner aligns with project management best practices for maintaining team morale while ensuring accountability. The project manager should first gather specific data on missed deadlines and quality metrics, then schedule a one-on-one meeting to discuss root causes and collaboratively develop an improvement plan. This approach preserves trust and avoids public embarrassment, which could further demotivate the team member.

Answer

Reassign the team member to less critical tasks

Answer

Escalate the issue to human resources immediately

Answer

Formally warn the team member in front of the team

Question 20

A project manager is preparing a status report for stakeholders. The project is currently in the execution phase. Which key performance indicator should be included to show how efficiently the project is using its budget?

Accepted Answer

CPI. The Cost Performance Index (CPI) is the correct KPI because it directly measures cost efficiency by comparing the earned value (EV) to the actual cost (AC). A CPI greater than 1 indicates the project is under budget, while a CPI less than 1 indicates over budget. This aligns with the question's focus on how efficiently the budget is being used during the execution phase.

Answer

BAC

Answer

EAC

Answer

SPI