1 - For controlling the Cost of a project, cost variance (CV) is the amount of budget deficit or surplus at a given point in time, expressed as:

a. The earned value is multiplied by the actual cost. CV = EV * AC.

b. The difference between earned value and the actual cost. CV = EV - AC.

c. The sum of the earned value and the actual cost. CV= EV + AV

d. The earned value is divided by the actual cost. CV = EV / AC

2 -The chances of a risk event occurring as a project proceeds through its life cycle tend to

a. slowly rises.

b. Rise sharply and then level out

c. Remain about the same

d. Slowly drops.

3 - The process of forecasting or approximating the time and cost of completing project deliverables is called

a. Budgeting

b. Estimating

c. Planning

d. Guesstimating

4-You are managing a software development project with an agile approach; as you just completed release one, how should you prepare for the next release?

a. Confirm Scope baseline is up to date

b. Review Backlogs

c. Confirm Scope statement is still valid

d. Review previous release WBS

5-As the project manager at the buyer organization, you extend a formal invitation containing a scope of work that seeks a response that will describe the methodology and results provided to your organization. This is called:

1. Request for proposal
2. Request for bid
3. Request for information
4. Invitation to bid
   1. High Power - Low Interest

6- As part of the Control Quality process, your project team is focused on completing an activity that keeps errors out of the hands of the customer. They are most likely focused on:

a) Prevention b) Inspection c) Attribute sampling

d) Tolerances

7- You are currently working as a Project Manager in Realty Logistics. You have been responsible for moving the Infrastructure of ABC Software LTD to a new location. For that, you need to identify the stakeholders of your project. Based on the Power/Interest Grid you created, which of the following types of stakeholders' expectations should be managed closely?

1. High Power - High Interest
2. Low Power - Low Interest
3. Low Power - High Interest

8-Who among the following said, "People will be interested in their safety needs only after their physiological needs have been fulfilled.":

1. Maslow
2. Ouchi
3. McGregor
4. Herzberg

9 -Being the project manager of the ABC Project,you have allowed the subsequent project phase to begin even before the predecessor phase completes. Which of the following relates to this scenario?

a. Crashing

1. Fast-tracking
2. Risk management
3. Tandem scheduling

10-You, find that activity in your project is very risky. How will you estimate the duration of this activity when your team member has given the optimistic, most likely, and pessimistic duration for the activity?

1. Using Earned Value Analysis, variance analysis
2. Using Sensitivity analysis
3. Using Three Points Estimate, PERT formula

Using Earned Value Analysis, Performance Reports