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PECB ISO 21502 Lead Project Manager Sample Questions:

1. According to ISO 21502, how should the project benefits be maintained?

A) By taking corrective, and when required, preventive actions in case of deviations from the planned benefits
B) By reporting and communicating the status of expected benefits
C) By collecting performance measurements for each benefit

2. Scenario:
Leute is a low-cost airline, headquartered in Wien, Austria. The company aims to offer passengers optimal options regarding its services and gain the lead role among other competitors in the airline industry. Recently, Leute experienced a major drop in revenue due to negative reviews from customers in various online platforms. To increase its profit and enhance customer satisfaction, the company decided to expand its in- flight services by offering entertainment, such as movies, audio books, and games, food for purchase in economy and full meals in premium cabins, and comforts, such as blankets and pillows. For the implementation of this project and future projects of the airline, the CEO of Leute, Michaele Wagner, decided to follow the guidelines of ISO 21502 on project management.
Initially, Allison, the project manager, created a short document in which she justified and summarized all project aspects, including: the nature and purpose of the project, the objectives of the project, key milestones of the project and the time needed to complete the project, and the audience that the project targets.
Afterward, Allison held a meeting with Michaele during which she presented this document and briefly explained each of its points. After a considerable amount of analysis and discussions, the project initiation was approved by Michaele. In addition, a team of eighteen members was authorized to start with the project activities.
While undertaking the project activities, Allison ensured that each work package takes longer than 8 hours, but less than 80 hours, so that they would be completed in 1 to 10 working days. In addition, during this phase, several changes were made in the predefined aspects of the project, which were approved by Nick Todd, the project sponsor. For instance, initially, the project delivery was set to be completed after six months. However, considering how the project was implemented and the time required for the completion of each phase, the deadline for the project completion was postponed for another two months. These changes were also reflected in the business case, which was updated accordingly.
A month after the project execution began, Allison conducted an earned value analysis to measure the progress of the project up to that stage. She measured how efficiently the work was being performed with regard to its budgeted cost, after which she concluded that it was going according to the plan. Moreover, she organized a meeting with relevant project stakeholders in order to communicate the progress report to them.
Question:
Based on scenario 3, Allison conducted the earned value analysis to measure the efficiency of work being performed with regard to its budgeted cost. Which of the following metrics did Allison use in this case?

A) Cost performance index (CPI)
B) Cost variance (CV)
C) Actual cost (AC)

3. What does ISO 21502 provide?

A) High-level descriptions of effective practices for project management
B) Guidance on the principles of project and program portfolio management
C) Guidance on the management of projects, programs, and portfolios

4. What is the purpose of benefit management?

A) To ensure that the project still meets the organization's needs and stakeholder expectations, and that risks are at an acceptable level
B) To assist the sponsoring organization and the customer in realizing the desired benefits of a project from the project's outcomes
C) To enable the project to continue to be relevant, justifiable, and beneficial in the organizational context

5. According to ISO 21502, what is the purpose of managing delivery?

A) To ensure that the project still meets the organization's needs and stakeholder expectations, and that risks are at an acceptable level
B) To enable the project benefit realization and manage the demobilization of any remaining resources and facilities
C) To define the required outputs and outcomes, and to plan and implement their delivery, enabling the project's outcomes to be achieved and benefits realized

Solutions: