PK0-005 Project Management Concepts Practice Test 6 — 15 Questions

Question 1

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 (CV) = Earned Value (EV) − Actual Cost (AC). At 6 months with a $100,000 budget and 50% completion, EV = 0.50 × $100,000 = $50,000. AC = $60,000. CV = $50,000 − $60,000 = −$10,000, indicating the project is $10,000 over budget.

Answer

-$40,000

Answer

$10,000

Answer

$40,000

Question 2

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 authorizes the project, provides the budget and resources, and resolves issues escalated beyond the project manager's authority. This role is distinct from day-to-day management and is defined in PMBOK as the person or group that provides the financial resources and high-level support.

Answer

Project manager

Answer

Steering committee

Answer

Functional manager

Question 3

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

Accepted Answer

Quality. The triple constraint (also known as the project management triangle) traditionally consists of three interdependent factors: cost, schedule, and scope. Quality is not one of the three; it is often considered a fourth dimension or a result of balancing the triple constraint. In the classic model, any change to one of the three constraints affects the others, and quality is managed as a separate performance dimension. Therefore, quality is NOT a typical constraint in the triple constraint.

Answer

Cost

Answer

Schedule

Answer

Scope

Question 4

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 life cycle combines predictive and adaptive elements, using a predictive approach for some phases (e.g., requirements and design) and an iterative or agile approach for others (e.g., development sprints). The scenario explicitly describes predictive requirements gathering and design with iterative sprints for development, which is the definition of a hybrid life cycle. Therefore, hybrid is the correct answer.

Answer

Iterative life cycle

Answer

Predictive life cycle

Answer

Adaptive life cycle

Question 5

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 6

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

Accepted Answer

Produces a unique product, service, or result. Option A is correct because a defining characteristic of a project is that it produces a unique product, service, or result, distinguishing it from repetitive operational work. Option E is correct because a project is a temporary endeavor with a defined beginning and end, undertaken to create that unique deliverable. Options B and D are incorrect because ongoing, repetitive activities and routine tasks describe operations, not projects. Option C is incorrect because project teams are typically temporary and disband upon project completion, rather than being permanent.

Answer

Ongoing and repetitive

Answer

Has a permanent team

Answer

Involves routine tasks

Question 7

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

Accepted Answer

Communicating project status to stakeholders. Option B is correct because a project manager is responsible for regularly communicating project status, progress, risks, and performance to stakeholders through status reports, meetings, and other channels. Option C is correct because developing the project management plan — integrating scope, schedule, cost, quality, resource, communications, risk, procurement, and stakeholder management baselines — is a core PM responsibility. Option E is correct because managing the project team, including acquiring, developing, motivating, and directing team members to achieve project objectives, falls directly under the project manager's role. Option A is not a PM responsibility because issues escalated beyond the project manager's authority are typically resolved by the project sponsor, steering committee, or senior management. Option D is not a PM responsibility because securing project funding is normally the sponsor's or executive management's role, while the PM manages the approved budget.

Answer

Resolving escalated issues beyond PM authority

Answer

Securing project funding

Question 8

Which of the following best defines a project?

Accepted Answer

A temporary endeavor with a defined scope, schedule, cost, and quality objectives. A project is defined as a temporary endeavor undertaken to create a unique product, service, or result, with defined scope, schedule, cost, and quality objectives. This aligns with PMI and CompTIA definitions. The other options describe operations, programs, or portfolios, not a project.

Answer

An ongoing operation to produce the same product repeatedly

Answer

A collection of related projects managed together to achieve strategic objectives

Answer

A set of projects and programs aligned to business goals

Question 9

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

Accepted Answer

Functional. In a functional organization, work is grouped by department (e.g., engineering, marketing) and the functional manager controls resources, budgets, and priorities. The project manager typically has little to no formal authority, often acting as a coordinator or expediter who must negotiate for resources and rely on influence rather than positional power.

Answer

Balanced matrix

Answer

Projectized

Answer

Strong matrix

Question 10

A project manager is assigned to a new project with unclear requirements and expects frequent changes. Which project management methodology is most suitable?

Accepted Answer

Agile. Agile methodologies are designed to handle evolving requirements and frequent changes.

Answer

Hybrid

Answer

Predictive (waterfall)

Answer

Lean

Question 11

During project execution, a stakeholder requests additional features that were not in the original scope. The project manager identifies this as scope creep. What is the best action for the project manager to take?

Accepted Answer

Evaluate the impact and submit a change request. Scope creep should be handled through the integrated change control process: the project manager evaluates the impact on scope, schedule, cost, and risk, then submits a formal change request for approval. This preserves the baseline and ensures the change is assessed and authorized by the appropriate authority (change control board or sponsor). Simply adding or rejecting the features bypasses governance.

Answer

Add the features immediately to satisfy the stakeholder

Answer

Inform the sponsor and ask for direction

Answer

Reject the request outright

Question 12

A project has a Net Present Value (NPV) of -$5,000. What does this indicate?

Accepted Answer

The project is not financially viable. A negative NPV means the project's costs exceed its benefits, indicating it is not financially viable.

Answer

The project will generate a profit of $5,000

Answer

The project should be accepted because NPV is positive

Answer

The payback period is less than 5 years

Question 13

In which project life cycle phase are project risks identified and a risk management plan created?

Accepted Answer

Planning. Risk identification and planning occur during the planning phase.

Answer

Closing

Answer

Initiating

Answer

Executing

Question 14

A project sponsor is a key stakeholder. Which of the following is a primary responsibility of the project sponsor?

Accepted Answer

Providing funding and removing obstacles. The sponsor provides resources, champions the project, and resolves issues that are beyond the PM's authority.

Answer

Assigning tasks to team members

Answer

Creating the project schedule

Answer

Developing the project charter

Question 15

Which of the following is an example of gold plating?

Accepted Answer

A developer adds a feature not in the requirements because it would be 'nice to have'. Gold plating is when the project team adds extra features beyond what was required, which can introduce risk and scope creep.

Answer

A stakeholder requests an additional feature and the PM rejects it

Answer

The team removes a feature to meet the deadline

Answer

A developer adds a user-requested feature that was approved through change control