Practice Test Geeks(CCM) Certified Credit Manager Practice Test
← All CCM Flashcard Decks

Project Management Fundamentals Flashcards

7 cards from real CCM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Project Management Fundamentals flashcards as text

  1. A stakeholder who provides funding and high-level direction for a credit system project but is not involved in daily activities holds which role?

    Answer: Project sponsor

    The project sponsor provides resources and support while championing the project at the executive level.

  2. When planning a credit risk assessment tool implementation, the project team uses a technique to break work into smaller, manageable components. What is this technique called?

    Answer: Decomposition

    Decomposition is the technique of subdividing project scope and deliverables into smaller, more manageable components.

  3. A project team is using a three-point estimate for a task. Optimistic = 3 days, Most Likely = 5 days, Pessimistic = 10 days. What is the PERT estimate?

    Answer: 5.5 days

    PERT estimate = (O + 4M + P) / 6 = (3 + 4×5 + 10) / 6 = 33 / 6 = 5.5 days.

  4. During a project status meeting, the project manager reports a Schedule Performance Index (SPI) of 0.85. What does this indicate?

    Answer: The project is only accomplishing 85 cents of work for every dollar of scheduled work

    An SPI below 1.0 means the project is behind schedule, earning only $0.85 of planned work for every $1.00 scheduled.

  5. Which communication method is most appropriate for formally documenting a key decision made during a credit project steering committee meeting?

    Answer: Meeting minutes distributed via email

    Meeting minutes distributed via email provide a formal, documented record of decisions made during official project meetings.

  6. A project manager wants to prioritize risks based on their probability and impact. Which tool is best suited for this purpose?

    Answer: Probability and Impact Matrix

    The Probability and Impact Matrix plots risks by likelihood and consequence to help prioritize risk responses.

  7. In a credit department project, the project manager must balance competing demands from multiple functional departments. Which organizational structure best supports this challenge with a dedicated project manager?

    Answer: Projectized organization

    In a projectized organization, the project manager has full authority and resources are dedicated entirely to the project.