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Question 1. Which document defines the hierarchical structure that organizes and defines the total scope of a project? A) Organizational Breakdown Structure (OBS) B) Work Breakdown Structure (WBS) C) Responsibility Assignment Matrix (RAM) D) Project Charter Answer: B Explanation: The WBS is a deliverable-oriented hierarchical decomposition of the project scope, used to organize and define all the work required. Question 2. What is the main purpose of the Organizational Breakdown Structure (OBS)? A) To schedule project tasks
B) To assign project costs C) To identify project deliverables D) To link project work with responsible individuals or departments Answer: D Explanation: The OBS shows who is responsible for what project work, aligning organizational units with project work. Question 3. In Earned Value Management, what is a control account? A) A line item in the project schedule B) The lowest level of detail in the WBS C) A management control point where scope, budget, and schedule are integrated D) A summary of all project costs
Question 5. What is the main difference between a work package and a planning package? A) Work package is for future work, planning package is for current work B) Work package is detailed and authorized, planning package is less- defined future work C) Work package is for the whole project, planning package is for a single task D) There is no difference Answer: B Explanation: Work packages are detailed and authorized work; planning packages are for less-defined, future work. Question 6. What is the purpose of work authorization in EVM? A) To define the project scope
B) To formally allow work to begin on a task or control account C) To allocate budget to the project D) To approve project changes Answer: B Explanation: Work authorization formally gives the go-ahead to begin work on a specific task or control account. Question 7. In project planning, what does CPM stand for? A) Cost Performance Metric B) Critical Path Method C) Control Package Management D) Continuous Project Monitoring Answer: B
A) Control account budgets B) Planning packages C) Management Reserve (MR) D) Summary-level planning packages Answer: C Explanation: Management Reserve is not included in the PMB; it is held for unforeseen work within the project scope. Question 10. What is the Budget at Completion (BAC)? A) The amount spent to date B) The total planned value for the project when complete C) The budget left to complete the project D) The estimated final cost
Answer: B Explanation: BAC is the total budget planned for the project at completion. Question 11. What is the Management Reserve (MR) used for? A) To pay project team bonuses B) To fund in-scope unforeseen work C) To fund out-of-scope work D) To cover subcontractor overruns Answer: B Explanation: MR is for in-scope, but unforeseen work that may arise during the project.
C) Work that has no measurable output, tracked by time or resources expended D) Work measured by cost only Answer: C Explanation: LOE is used for support activities with no discrete output; progress is measured by time or resources used. Question 14. Which earned value technique uses a predetermined percentage of budget earned at the start and finish of a task? A) Percent Complete B) Apportioned Effort C) Fixed Formula D) LOE Answer: C
Explanation: Fixed Formula assigns a set percentage of budget at the start and completion of the task. Question 15. Apportioned Effort is most appropriately used for which type of tasks? A) Tasks with no deliverables B) Tasks directly proportional to another measurable task C) Tasks with variable output D) Tasks with unknown duration Answer: B Explanation: Apportioned Effort is for tasks whose progress is proportional to a related measurable task. Question 16. What is Planned Value (PV) also known as?
Answer: B Explanation: EV is the budgeted cost for the work actually performed by a certain date. Question 18. What does Actual Cost (AC) represent? A) The planned expenditure to date B) The budgeted cost of work performed C) The actual cost incurred for work performed D) The total project cost Answer: C Explanation: AC is the actual cost incurred for the work performed up to a specified point.
Question 19. Which formula calculates Cost Variance (CV)? A) EV – AC B) EV – PV C) AC – EV D) PV – AC Answer: A Explanation: Cost Variance = Earned Value – Actual Cost (CV = EV – AC). Question 20. What does a negative CV indicate? A) The project is under budget B) The project is over budget C) The project is ahead of schedule D) The project is behind schedule
Question 22. If the Schedule Variance (SV) is positive, what does it mean? A) The project is behind schedule B) The project is ahead of schedule C) The project is under budget D) The project is over budget Answer: B Explanation: A positive SV means earned value exceeds planned value; the project is ahead of schedule. Question 23. What does the Cost Performance Index (CPI) measure? A) Cost efficiency of the work performed B) Schedule efficiency of the work performed
C) Project profitability D) The total project cost Answer: A Explanation: CPI measures cost efficiency, calculated as EV/AC. Question 24. Which formula is used to calculate the Schedule Performance Index (SPI)? A) EV / AC B) EV / PV C) PV / EV D) AC / EV Answer: B Explanation: SPI = Earned Value / Planned Value (EV/PV).
C) The project is 20% over budget D) The project is 20% behind schedule Answer: B Explanation: SPI > 1.0 means the project is ahead of schedule. Question 27. What is Estimate at Completion (EAC)? A) The original project budget B) The forecasted total cost at project completion C) The cost incurred to date D) The cost to complete remaining work Answer: B Explanation: EAC is the forecasted total cost for completing the project.
Question 28. Which EAC formula is used when past cost performance is expected to continue? A) EAC = BAC / CPI B) EAC = AC + ETC C) EAC = BAC – EV D) EAC = AC / SPI Answer: A Explanation: When cost performance is expected to continue, EAC = BAC / CPI. Question 29. If future work will be performed at the original planned rate, which EAC formula should be used? A) EAC = AC + BAC – EV B) EAC = AC + (BAC – EV)
