C722 Project Management Practice Questions - Set 2 - Part 3

Test your knowledge of Project Management concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: What does a Cost Performance Index (CPI) greater than 1.0 indicate about a project's financial performance?

a) Project is under budget

b) Project is over budget

c) Project is on budget

d) Project needs additional funding

Question 42: Which type of estimate uses historical data and applies statistical relationships to forecast project costs?

a) Analogous Estimating

b) Bottom-Up Estimating

c) Parametric Estimating

d) Three-Point Estimating

Question 43: Which project selection model emphasizes factors beyond traditional financial metrics, such as strategic alignment and competitive positioning?

a) Numeric Model

b) Non-numeric Model

c) Profitability Model

d) Quantitative Model

Question 44: Which Agile practice involves a team reflection on what went well and what could improve after each work cycle?

a) Sprint Planning

b) Retrospective

c) Backlog Grooming

d) Standup Meeting

Question 45: In Agile, what is the prioritized list of project requirements that guides team tasks?

a) Risk Register

b) Sprint Plan

c) Backlog

d) Requirements Matrix

Question 46: What describes an organization’s strategy for selecting projects that support its long-term goals and mission?

a) Project Baseline

b) Project Charter

c) Business Strategy

d) Project Proposal

Question 47: Which project phase involves assessing lessons learned and archiving project information for future reference?

a) Planning

b) Defining

c) Executing

d) Closing

Question 48: Which estimation technique provides a single value for task duration based on expert judgment or past data?

a) Analogous Estimating

b) Three-Point Estimating

c) One-Point Estimating

d) Parametric Estimating

Question 49: What phase ends once project baselines for scope, schedule, and budget are approved?

a) Planning

b) Defining

c) Executing

d) Closing

Question 50: In project management, what is the term for assigning additional resources to shorten the project schedule?

a) Fast-tracking

b) Crashing

c) Resource Leveling

d) Forward Pass

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