PMI Scheduling Professional Certification (PMI-SP) Practice Exam

What defines a control account in project management?

1. A point for integrating project scope and budget for performance measurement.

2. A technique for allocating resources effectively.

3. A tool for stakeholder engagement.

4. A method for setting project timelines.

The correct answer is: A point for integrating project scope and budget for performance measurement.

A control account in project management serves as a vital point for integrating project scope and budget, which is essential for performance measurement. It acts as a management control point where both the planned value (budget) and the actual value (cost incurred) of work can be compared. This comparison enables project managers to assess project performance and make informed decisions regarding cost control and schedule adherence. Control accounts are where a project's work breakdown structure is linked with its budget and schedule, allowing project managers to gain insights into how well the project is progressing in terms of scope, schedule, and financial performance. By reviewing the variances at control accounts, managers can identify potential issues early and implement corrective actions, ensuring that the project remains on track. In contrast, the other options touch on different aspects of project management that, while important, do not define a control account. Effective resource allocation is a key project management technique but does not describe the specific purpose of a control account. Similarly, stakeholder engagement and setting project timelines are crucial elements of project management but pertain to broader practices rather than the specific function of a control account.