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 project manager is using an Ishikawa diagram during a quality review for a credit scoring project. What is the primary purpose of this tool?

    Answer: To identify root causes of a quality problem

    The Ishikawa (fishbone) diagram is a cause-and-effect tool used to identify and visualize root causes of problems.

  2. Which contract type places the greatest financial risk on the buyer in a project procurement scenario?

    Answer: Cost Plus Fixed Fee (CPFF)

    Cost Plus Fixed Fee contracts reimburse all allowable costs plus a fixed fee, leaving the buyer exposed to all cost overruns.

  3. A credit department project is 60% complete. The project manager wants to forecast the final cost at completion. Which earned value metric provides this forecast?

    Answer: Estimate at Completion (EAC)

    Estimate at Completion (EAC) forecasts the expected total cost of the project based on current performance trends.

  4. During project planning for a credit risk tool, the project team identifies that a risk could impact the project positively. What risk response strategy is appropriate for positive risks (opportunities)?

    Answer: Exploit

    Exploiting a positive risk means taking deliberate action to ensure the opportunity occurs and its benefits are realized.

  5. A project has a Budget at Completion of $500,000, a To-Complete Performance Index (TCPI) of 1.15, and is behind schedule. What does a TCPI above 1.0 indicate?

    Answer: The remaining work must be done more efficiently than planned to meet budget

    A TCPI greater than 1.0 means the team must achieve better cost efficiency on remaining work than originally planned to stay within budget.

  6. In which project management process group are project baselines (scope, schedule, cost) formally established?

    Answer: Planning

    Baselines are established during the Planning process group and serve as the benchmark against which project performance is measured.

  7. A credit manager managing a hybrid project uses both predictive and agile methods. In the agile components, work is organized into time-boxed iterations. What are these iterations typically called?

    Answer: Sprints

    Sprints are fixed-length iterations (typically 1–4 weeks) used in Scrum and other agile frameworks to deliver incremental value.