Preview Questions Project Manager | Role Specific Skill

Question 1: In budgeting for a high-value aerospace project, what is the most accurate method to predict future costs based on past data?

Which action should you take?

Choose only one option

Monte Carlo simulation

Bottom-up estimating

Trend analysis

Parametric estimating

Question 2: Which tool is commonly used for prioritizing and categorizing risks in a defense project?

Which action should you take?

Choose only one option

Earned Value Management

Risk Probability and Impact Matrix

Pareto Analysis

Decision Tree Analysis

Question 3: In aerospace project budgeting, which of the following is most effective in preventing cost overruns due to unforeseen expenses?

Which action should you take?

Choose only one option

Risk contingency planning

Regular project reviews

Detailed cost breakdowns

Tight resource constraints

Question 4: How does "Risk Acceptance" factor into the decision-making process in aerospace project management, and when is it appropriate?

Which action should you take?

Choose only one option

Risk acceptance should only be considered once the project is complete

Risk acceptance involves acknowledging a risk and its consequences, typically when the cost of mitigation exceeds the benefit of reducing the risk

Risk acceptance is never used in aerospace projects

Risk acceptance is only applicable to financial risks

Question 5: What is the best method for adjusting a project schedule when there is a significant increase in project scope in a defense program?

Which action should you take?

Choose only one option

Increase project team size to expedite work

Focus on only one phase of the project until completion

Use scope management techniques to assess the impact on the schedule

Extend project deadlines without re-evaluating resources

Question 6: When conducting compliance monitoring, which document is most critical for ensuring adherence to regulations in aerospace projects?

Which action should you take?

Choose only one option

Project compliance plan

Technical specification document

Risk management plan

Project schedule