PK0-005 Project Management Concepts Practice Test 3 — 15 Questions

Question 1

A project manager is assigned to a new software development project. The requirements are well understood and unlikely to change. Which project management methodology is most appropriate for this project?

Accepted Answer

Predictive. Predictive (waterfall) is best for projects with stable, well-understood requirements. Agile is for evolving requirements, and hybrid combines both. Scrum is an agile framework.

Answer

Hybrid

Answer

Scrum

Answer

Agile

Question 2

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

Accepted Answer

Functional. In a functional structure, resources belong to functional managers, and the PM has limited authority. In projectized, the PM has full authority. Matrix structures are in between.

Answer

Projectized

Answer

Balanced matrix

Answer

Strong matrix

Question 3

During a project, the team adds extra features to a deliverable because they believe it will increase customer satisfaction, even though the features were not specified in the requirements. This is an example of:

Accepted Answer

Gold plating. Gold plating is adding extra features beyond specified requirements. Scope creep is uncontrolled changes to scope, but gold plating is specifically adding extras without approval.

Answer

Scope creep

Answer

Risk response

Answer

Value engineering

Question 4

A project manager is evaluating two project proposals. Project A has an initial investment of $100,000 and is expected to generate cash flows of $30,000 per year for 5 years. Project B has an initial investment of $50,000 and cash flows of $20,000 per year for 3 years. Using payback period, which project should be selected?

Accepted Answer

Project B, because it has a shorter payback period. Payback period: Project A = $100,000/$30,000 = 3.33 years. Project B = $50,000/$20,000 = 2.5 years. Shorter payback is better, so Project B is selected.

Answer

Project A, because it has a longer payback period

Answer

Project B, because it has a lower initial investment

Answer

Project A, because it has a higher total return

Question 5

A project manager is working in a matrix organization. The project team members report to both the project manager and their functional managers. The project manager has moderate authority and shares resources. This type of matrix is known as:

Accepted Answer

Balanced matrix. In a balanced matrix, the PM and functional manager share authority equally. Weak matrix has more functional authority, strong matrix has more PM authority.

Answer

Functional

Answer

Strong matrix

Answer

Weak matrix

Question 6

Which of the following best describes a program?

Accepted Answer

A group of related projects managed in a coordinated way. A program is a group of related projects managed together to achieve benefits. A project is a single initiative. A portfolio is a collection of projects and programs aligned to strategy.

Answer

A process to select projects based on business value

Answer

A temporary endeavor with a defined start and end

Answer

A collection of projects and programs aligned to strategic objectives

Question 7

A project sponsor is reviewing a project that has a Net Present Value (NPV) of -$15,000. What should the sponsor recommend?

Accepted Answer

Reject the project because NPV is negative. A negative NPV indicates the project is not expected to be profitable; it should be rejected. Positive NPV is profitable. IRR and payback period are different metrics.

Answer

Proceed with the project because NPV is negative

Answer

Proceed if the IRR is positive

Answer

Reject only if the payback period is too long

Question 8

Which project life cycle phase involves obtaining formal acceptance of the project deliverables and releasing project resources?

Accepted Answer

Closing. Closing is the phase where deliverables are accepted, resources released, and project formally closed. Planning defines scope. Executing produces deliverables. Monitoring and controlling tracks progress.

Answer

Executing

Answer

Planning

Answer

Monitoring and controlling

Question 9

A project manager is managing a construction project. The scope is well-defined, but the customer is open to minor changes during execution. Which methodology is most suitable?

Accepted Answer

Hybrid. Hybrid allows for some flexibility while maintaining a planned approach. Predictive would be too rigid, agile too flexible, and Kanban is an agile framework.

Answer

Predictive

Answer

Kanban

Answer

Agile

Question 10

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 refers to uncontrolled changes to project scope. Gold plating is adding features without request. Risk is an uncertain event. Change control is the process to manage changes.

Answer

Risk management

Answer

Gold plating

Answer

Change control

Question 11

A project has a cost performance index (CPI) of 0.8 and a schedule performance index (SPI) of 1.1. What does this indicate?

Accepted Answer

Over budget and ahead of schedule. CPI < 1 means over budget; SPI > 1 means ahead of schedule. Therefore, the project is over budget but ahead of schedule.

Answer

Under budget and behind schedule

Answer

Over budget and behind schedule

Answer

Under budget and ahead of schedule

Question 12

Who is responsible for providing the project with resources and removing obstacles that are beyond the project manager's control?

Accepted Answer

Project sponsor. The project sponsor provides resources, champions the project, and resolves escalations. The PM manages day-to-day. The steering committee provides governance. The team executes tasks.

Answer

Project manager

Answer

Project team

Answer

Steering committee

Question 13

Which TWO of the following are characteristics of a project? (Select TWO).

Accepted Answer

Produces a unique product or service. A project is temporary (definite start and end) and creates a unique product or service. Ongoing operations are not projects. Predictive methodology is not a defining characteristic; it's an approach.

Answer

Produces the same result each time

Answer

Uses a predictive methodology

Answer

Ongoing and repetitive

Question 14

A project manager is selecting a project using financial methods. Which THREE of the following are valid project selection methods? (Select THREE).

Accepted Answer

Net Present Value (NPV). NPV, IRR, and payback period are financial selection methods. Scope statement and WBS are project documents, not selection methods.

Answer

Work Breakdown Structure (WBS)

Answer

Scope statement

Question 15

Which TWO of the following are examples of project constraints? (Select TWO).

Accepted Answer

Cost. Scope and cost are classic project constraints (triple constraint). Team morale and customer satisfaction are not typically considered constraints in the traditional sense.

Answer

Project manager experience

Answer

Team morale

Answer

Customer satisfaction