Free AACE International PSP Practice Exam with Questions & Answers | Set: 7

An effective schedule is one that is realistic, collaborative, and accepted by key stakeholders involved in project execution.

Gaining consent and agreement ensures buy-in, facilitates implementation, and minimizes disputes (Option B)​.

Frequent updates (Option A) are essential for tracking but are insufficient without team agreement.

Contract specifications (Option C) govern compliance but do not guarantee effective field use.

Large contingencies (Option D) may reduce accountability and create inefficiencies in project management.

Collaboration and stakeholder involvement, as emphasized in the PSP Study Guide, are essential for schedule usability​.

The cumulative cost baseline typically forms an "S" curve, reflecting slow initial expenditures, accelerating progress during peak activities, and tapering off as the project concludes.

Option A, B, and D do not represent the characteristic shape of a project's cost curve.

The PSP Study Guide highlights the "S" curve as a standard graphical representation of cumulative project costs over time​.