PK0-005 Project Life Cycle Practice Test 6 — 15 Questions

Question 1

A project has a cost performance index (CPI) of 1.2 and a schedule performance index (SPI) of 0.8. What does this indicate about the project?

Accepted Answer

Under budget and behind schedule. CPI is calculated as Earned Value (EV) divided by Actual Cost (AC). A CPI of 1.2 means EV > AC, so the project is under budget (getting more value per dollar spent). SPI is EV divided by Planned Value (PV). An SPI of 0.8 means EV < PV, so the project is behind schedule. Therefore, the project is under budget and behind schedule.

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Over budget and behind schedule

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Over budget and ahead of schedule

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Under budget and ahead of schedule

Question 2

In which project management process group is the project charter formally approved, giving the project manager authority to allocate resources?

Accepted Answer

Initiating. The project charter is formally approved during the Initiating process group. This approval authorizes the project and gives the project manager the authority to apply organizational resources to project activities. It is the first formal document that officially starts the project.

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Planning

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Executing

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Monitoring and Controlling

Question 3

A project manager is preparing a procurement document that asks vendors to provide a price for a specific product. Which type of document is this?

Accepted Answer

Request for quotation (RFQ). A Request for Quotation (RFQ) is used when the buyer has a well-defined requirement (e.g., a specific product) and wants vendors to submit pricing. It is typically used for commodity or standard items where the specification is clear and the primary differentiator is price. This matches the scenario of asking vendors to provide a price for a specific product.

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Request for proposal (RFP)

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Request for information (RFI)

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Statement of work (SOW)

Question 4

A project manager is evaluating a risk with a probability of 30% and an impact of $50,000. What is the expected monetary value (EMV) of this risk?

Accepted Answer

$15,000. Expected Monetary Value (EMV) is calculated as probability multiplied by impact: 0.30 × $50,000 = $15,000. This represents the risk's weighted average monetary exposure and is used in quantitative risk analysis to prioritize risks and compute contingency reserves.

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$150,000

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$1,500

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$50,000

Question 5

A project has a budget at completion (BAC) of $200,000. The actual cost (AC) is $80,000, earned value (EV) is $60,000, and planned value (PV) is $90,000. What is the estimate at completion (EAC) if the project will continue to perform at the same cost efficiency?

Accepted Answer

$266,667. The estimate at completion (EAC) when the project continues at the same cost efficiency is calculated as EAC = BAC / CPI. First compute CPI = EV / AC = 60,000 / 80,000 = 0.75. Then EAC = 200,000 / 0.75 = $266,667. This matches option D.

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$220,000

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$250,000

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$200,000

Question 6

Which of the following is the primary purpose of a feasibility study during the initiating phase?

Accepted Answer

To determine if the project is viable. A feasibility study is conducted during the initiating phase to evaluate whether a proposed project is technically, financially, legally, and operationally viable before committing resources. It answers the question 'should we proceed?' by analyzing alternatives and constraints. Communication plans, risk identification, and detailed schedules come later in the planning phase.

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To develop a communication plan

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To identify all project risks

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To create a detailed project schedule

Question 7

A project manager is conducting a lessons learned session at the end of a project. Which TWO activities are typically performed during project closure? (Select two.)

Accepted Answer

Archiving project documents. Option A (Archiving project documents) is correct because project closure includes collecting, indexing, and storing all project records, deliverables, and lessons learned in the organizational knowledge base for future reference and audit purposes. Option E (Obtaining formal acceptance from the sponsor) is correct because closure requires verifying that deliverables meet requirements and securing the sponsor's sign-off, which formally confirms the project's completion. Option B (Developing the project charter) is incorrect because the charter is created during project initiation to authorize the project, not at closure. Option C (Creating the work breakdown structure) is incorrect because the WBS is developed during project planning to decompose scope into manageable work packages. Option D (Performing risk identification) is incorrect because risk identification is an ongoing activity primarily performed during planning and monitoring, not a typical closure activity.

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Developing the project charter

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Creating the work breakdown structure

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Performing risk identification

Question 8

During project planning, the project manager is creating a risk register. Which THREE pieces of information are typically included in a risk register? (Select three.)

Accepted Answer

Risk description. A risk register typically documents each identified risk with a clear risk description (Option A), so the team understands the nature and cause of the potential problem. It also records the probability and impact assessment (Option B), which quantifies or rates how likely the risk is and how severely it could affect project objectives, enabling prioritization. Additionally, the register includes the risk response plan (Option D), specifying the agreed mitigation, avoidance, transfer, or acceptance strategy along with any contingency actions. The actual cost of the project (Option C) is tracked in the project budget or cost baseline, not as a core risk register field, and team member assignments (Option E) belong in a responsibility assignment matrix or staffing plan rather than the risk register.

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Actual cost of the project

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Team member assignments

Question 9

A project manager is developing the project charter. Which of the following should be included as a key element in the charter to define the project's boundaries?

Accepted Answer

High-level scope. The project charter is a high-level document that formally authorizes the project and defines its boundaries, including the high-level scope, objectives, success criteria, and constraints. High-level scope is a core charter element because it delineates what is in and out of the project without descending into detailed deliverables. The other options are planning artifacts created later in the project lifecycle.

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Risk register

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Detailed work breakdown structure

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Communication plan

Question 10

In the stakeholder power/interest grid, stakeholders with high power and low interest should be managed using which strategy?

Accepted Answer

Keep satisfied. In the power/interest grid, stakeholders with high power but low interest must be kept satisfied because they can exert significant influence over the project (e.g., block approvals or funding) yet they don't want to be burdened with day-to-day details. The 'Keep Satisfied' strategy delivers enough high-level information to prevent them from becoming disengaged or obstructive without overwhelming them. This matches the classic Mendelow matrix quadrant mapping: high power/low interest = keep satisfied.

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Keep informed

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Manage closely

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Monitor

Question 11

During the planning phase, a project manager is creating the WBS. Which of the following best describes the process of breaking down deliverables into smaller, more manageable components?

Accepted Answer

Decomposition. Decomposition is the PMBOK term for breaking down project deliverables and work into smaller, more manageable components, ultimately producing the work packages at the lowest level of the WBS. It is the core technique used during the Create WBS process. The other options are scheduling or estimating techniques, not WBS construction methods.

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Rolling wave planning

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Analogous estimating

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Precedence diagramming

Question 12

A project has three activities on the critical path. Activity A has a duration of 5 days, Activity B has a duration of 3 days, and Activity C has a duration of 4 days. What is the total float for any activity on the critical path?

Accepted Answer

0 days. Total float (slack) on the critical path is always zero by definition. The critical path is the longest sequence of dependent activities through the network, and any delay to a critical-path activity directly delays the project finish date. Therefore, activities on the critical path have no scheduling flexibility.

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3 days

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12 days

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4 days

Question 13

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 14

A project manager identifies a risk that could cause a $50,000 loss with a 20% probability. What is the expected monetary value (EMV) of this risk?

Accepted Answer

$10,000. Expected Monetary Value (EMV) for a risk is calculated as probability × impact. Here, EMV = 0.20 × $50,000 = $10,000. This represents the average expected loss from the risk and is used to prioritize risks and build contingency reserves.

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$100,000

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$50,000

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$25,000

Question 15

During the executing phase, a project manager observes that team members are starting to collaborate and share ideas openly. According to Tuckman's stages of team development, which stage is the team likely in?

Accepted Answer

Norming. In Tuckman's model, the Norming stage is characterized by team members resolving differences, establishing cohesion, and beginning to collaborate openly and share ideas. Trust develops, roles are clarified, and the team starts functioning as a unit with shared norms and values. This matches the scenario where collaboration and open idea-sharing are emerging.

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Performing

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Forming

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Storming