Project Management Principles Flashcards
6 cards from real 8100 Professional Level Exam practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Project Management Principles flashcards as text
What is 'scope creep' in project management?
Answer: Uncontrolled expansion of project scope without corresponding adjustments to time, cost, or resources
Scope creep occurs when stakeholders add requirements informally without going through change control, straining the project's budget and schedule.
Which scheduling technique calculates the longest path through a project network to determine the minimum project duration?
Answer: Critical Path Method (CPM)
CPM identifies the critical path — the sequence of tasks with no scheduling flexibility — which determines the earliest possible project completion date.
What is 'float' (also called slack) in project scheduling?
Answer: The amount of time a task can be delayed without delaying the project completion date
Float is the scheduling flexibility available for non-critical activities; tasks with zero float are on the critical path.
In Earned Value Management (EVM), what does Cost Performance Index (CPI) measure?
Answer: Cost efficiency of work accomplished relative to actual costs incurred
CPI = Earned Value ÷ Actual Cost; a CPI above 1.0 indicates the project is performing under budget for the work completed.
What is a 'lessons learned' register used for in project management?
Answer: Documenting knowledge gained during a project to improve future project performance
Lessons learned capture what worked well, what didn't, and what should be done differently, feeding organizational process improvement.
Which risk response strategy involves shifting the negative impact of a risk to a third party?
Answer: Transfer
Risk transfer moves the financial consequence of a risk to another party, such as through insurance or contractual agreements.