PK0-005 Project Management Concepts Practice Test 5 — 15 Questions

Question 1

Which of the following best describes a project?

Accepted Answer

A temporary endeavor with a defined scope, schedule, cost, and quality objectives. A project is a temporary endeavor with a defined beginning and end, undertaken to create a unique product, service, or result.

Answer

A repetitive operational process

Answer

A collection of related projects managed together

Answer

A strategic grouping of projects and programs

Question 2

In which organizational structure does a project manager have the highest level of authority?

Accepted Answer

Projectized. In a projectized structure, the project manager has full authority over the project and dedicated team members.

Answer

Balanced matrix

Answer

Weak matrix

Answer

Functional

Question 3

A project manager is leading a software development project with stable requirements and a fixed budget. The team prefers a sequential approach with clear phases. Which methodology is most appropriate?

Accepted Answer

Predictive (Waterfall). Predictive (waterfall) works well when requirements are stable and a sequential approach is preferred.

Answer

Scrum

Answer

Hybrid

Answer

Agile

Question 4

A project manager is reviewing project selection methods. Which method calculates the present value of future cash flows minus the initial investment?

Accepted Answer

Net Present Value (NPV). Net Present Value (NPV) is the sum of present values of incoming and outgoing cash flows over a period of time.

Answer

Internal Rate of Return (IRR)

Answer

Payback period

Answer

Return on Investment (ROI)

Question 5

During a project, a stakeholder requests additional features that were not in the original scope. The project manager adds these features without formal change control. This is an example of:

Accepted Answer

Scope creep. Scope creep refers to uncontrolled changes or continuous growth in a project's scope, often without proper authorization.

Answer

Value engineering

Answer

Quality assurance

Answer

Gold plating

Question 6

A project manager is assigned to a project in a matrix organization where the functional managers have significant control over team members. The PM has limited authority. This describes which type of matrix?

Accepted Answer

Weak matrix. In a weak matrix, the functional manager has more authority than the project manager.

Answer

Balanced matrix

Answer

Strong matrix

Answer

Projectized

Question 7

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

Accepted Answer

Closing. The closing phase includes finalizing all activities, obtaining stakeholder acceptance, and closing the project.

Answer

Planning

Answer

Executing

Answer

Initiating

Question 8

A project has a budget of $100,000 and a duration of 12 months. After 6 months, the project is 50% complete and has spent $60,000. What is the cost variance?

Accepted Answer

-$10,000. Cost variance = earned value - actual cost. EV = $50,000 (50% of $100,000), AC = $60,000. CV = $50,000 - $60,000 = -$10,000.

Answer

-$40,000

Answer

$10,000

Answer

$40,000

Question 9

Who is typically responsible for providing the project budget and resources, and for resolving issues that are beyond the project manager's authority?

Accepted Answer

Project sponsor. The project sponsor is the executive champion who provides resources and resolves escalations.

Answer

Project manager

Answer

Steering committee

Answer

Functional manager

Question 10

Which of the following is NOT a typical constraint in the triple constraint of project management?

Accepted Answer

Quality. The classic triple constraint includes scope, cost, and schedule. Quality is often added as a fourth constraint.

Answer

Cost

Answer

Schedule

Answer

Scope

Question 11

A project manager is leading a project in an organization that uses a hybrid methodology. The team follows a predictive approach for requirements gathering and design, but uses iterative sprints for development. Which life cycle best describes this project?

Accepted Answer

Hybrid life cycle. A hybrid methodology combines predictive and agile elements, often using predictive for planning and agile for execution.

Answer

Iterative life cycle

Answer

Predictive life cycle

Answer

Adaptive life cycle

Question 12

A project manager is evaluating two potential projects. Project A has an NPV of $50,000, and Project B has an NPV of -$10,000. Which project should be selected based on NPV?

Accepted Answer

Project A. A positive NPV indicates a profitable project; a negative NPV indicates a loss. Select Project A.

Answer

Both projects

Answer

Project B

Answer

Neither project

Question 13

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

Accepted Answer

Produces a unique product, service, or result. A project is temporary and creates a unique product, service, or result. Ongoing operations and repetitive tasks are not project characteristics.

Answer

Ongoing and repetitive

Answer

Has a permanent team

Answer

Involves routine tasks

Question 14

Which THREE of the following are responsibilities of a project manager? (Select THREE).

Accepted Answer

Communicating project status to stakeholders. The project manager plans, executes, and controls the project, manages the team, and communicates with stakeholders. The sponsor provides resources, and the steering committee provides governance.

Answer

Resolving escalated issues beyond PM authority

Answer

Securing project funding

Question 15

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

Accepted Answer

Schedule. Scope, cost, and schedule are classic triple constraints. Quality is often added. Risk is not a constraint but an uncertainty.

Answer

Stakeholder satisfaction

Answer

Team morale

Answer

Risk