PMI-SP Sample Questions Answers

An activity is an individual component of work that is logically linked to other activities to outline the schedule. Its key characteristics include an overall duration based upon the resources applied to it (manpower, material, and equipment), a start and completion date that is tied to a work calendar, and an association with other activities (predecessor and successors). Following are the various types of activities in schedule creation: Tasks: A task is an activity that needs to be accomplished within a defined period of time. Milestones: A milestone is the end of a stage that marks the completion of a work package or phase, typically marked by a high level event such as completion, endorsement or signing of a deliverable, document or a high level review meeting. Flags: Flags shall occur at appropriate intervals of approximately each month. The flags shall be located on the critical path and be incorporated into the baseline, all targets, and the current schedule. Hammocks: Hammocks are a summary pseudo "activity" representing a group of related activities that collectively cover some portion of a project.

Answer option B is incorrect. The Critical Path scheduling, or Critical Path Analysis, is a mathematically based algorithm for scheduling a set of project activities.

The project charter defines the business needs, the project justification, the current requirements, and the new warehouse your organization wants to create. The project charter is the document that formally authorizes a project. The project charter provides the project manager with the authority to apply organizational resources to project activities. According to PMBOK Guide, the project charter should address the following information:

Requirements that satisfy customer, sponsor, and other stakeholder needs, wants and expectations Business needs, high-level project description, or product requirements that the project is

undertaken to address

Project purpose or justification

Assigned Project Manager and authority level

Summary milestone schedule

Stakeholder influences

Functional organizations and their participation

Organizational, environmental and external assumptions

Organizational, environmental and external constraints

Business case justifying the project, including return on investment

Summary budget

If required, it also authorizes the next project phase, and updates the charter. The project manager should always be assigned prior to the start of planning, and preferably while the project charter is being developed.

Answer option C is incorrect. The decomposition of the project scope results in the project's Work Breakdown Structure (WBS). The work packages of the WBS will help the project manager and team create accurate time and cost estimates.

Answer option A is incorrect. The feasibility study is usually created before the project scope, though not always. This document defines the likelihood of the project being able to reach its objectives.

Answer option D is incorrect. The project scope defines all that the project should complete.

The schedule management plan is the intent of the project manager. It defines how the schedule will be managed and controlled. The schedule baseline is a benchmarking tool to compare actual results against the planned results.

Answer options C, D, and B are incorrect. These are not valid definitions of the schedule management plan and the schedule baseline.

The precedence diagramming method is not a tool and technique that will be used during the activity definition process. Precedence diagramming method (PDM) is used in critical path methodology for building a project schedule network diagram that uses boxes or rectangles, referred to as nodes, to represent activities, and join each other with arrows that show the logical relationship that exists between them. The tools and techniques used in defining the activity process are as follows: Decomposition: It is used to further divide the project work package into a more smaller and convenient form called activities. Rolling Wave Planning: It is a form of progressive elaboration planning where the work to be accomplished in the near term is planned in detail and future work is planned at a higher level of WBS. Templates: It is an activity list or a part of the activity list taken from the previous project and used in a new project. Expert Judgement: The skilled members in a project team or other experts who develop project scope statements can help provide knowledge in defining activities.

The schedule performance index is found by dividing the earned value by the planned value. For Holly's project, it would be as follows:

SPI = EV/PV

= (0.85*9,850,400)/(0.95*9,850,400)

=8,372,840/9,357,880

=0.89

Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula:

SPI = Earned Value (EV) / Planned Value (PV)

If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target.

Answer option D is incorrect. Ten percent is not a valid calculation for this question.

Answer option B is incorrect. 0.98 is the cost performance index.

Answer option A is incorrect. 1.07 is the to-complete performance index based on the BAC.

The define activities process is the process that may begin once the project's WBS has been completed and approved. It is possible, in some projects, to complete the WBS and the activity list at the same time.

Answer option D is incorrect. Sequencing the activities cannot happen until the activity list has been created.

Answer option A is incorrect. Estimating activity resources is dependent on the activity list, so this choice is not valid.

Answer option C is incorrect. Estimate activity durations are dependent on the activity list, so this choice is not valid.

Fred should add lag time to each painting activity. Since lag time is waiting time, Fred will have to wait twenty-four hours after the priming is finished before he can start painting. What is a lag? A lag directs a delay in the successor activity. Lags require the dependent activity to have added either to the start date or to the finish date of the activity. For example, in a project of making radio-controlled airplanes, after applying glue and pasting stickers, it requires twenty-four hours to dry the glue. Any activity can be started after that only. This period, of twenty-four hours, is a lag.

Answer option C is incorrect. There is no reason to add an intermediary task as waiting. Adding lag time is the most appropriate as there are fewer activities to manage.

Answer option D is incorrect. Priming all of the room first and then painting all of the rooms would cause Fred to readjust the entire sequencing of activities. In addition, we do not know the reason why Fred has scheduled all the rooms to be primed and then painted. There may be successor activities in the project that need to enter each room, such as carpeting, as soon as a room has been painted. If that were the case the additional activities would have to wait for all of the priming to be completed and then the sequential rooms to be painted before they could start.

Answer option A is incorrect. Lead time actually moves activities closer together rather than farther apart. Lead time would cause the painting and priming activities to overlap, something that Fred does not want to happen. What is a lead? A lead allows an acceleration of the successor activity. It works just the opposite of lag. For example, in a software application project, before designing is fully completed for first phase, a program development group can start this phase programming. This overlapping of timing is a lead.

The application area is defined as a type of project that comprises common components important in such projects, but are not required or present in all projects. The application area is defined in terms of either the product or the type of customer or industry sector.

Of all the choices, the what-if scenario analysis allows you to determine the best approach to bring the schedule back into alignment with the project plan. What-if scenario analysis explains the analysis of the question "What if the situation represented by scenario 'X' happens?". This What-If Scenario Analysis shortly named as WIS

A. A schedule network analysis is performed using the schedule to compute the different scenarios, such as extending specific engineering durations, or delaying a major component delivery. Businesses use what-if scenarios to determine the effect different costs or investments have on profit and other financial indicators.

Answer option D is incorrect. Resource leveling can cause your project's duration to increase.

Answer option C is incorrect. Schedule analysis is the review of the schedule, but does not examine other possibilities for completing the project work.

Answer option B is incorrect. Root cause analysis could help you determine the reasons why the project is running late, but it is not the best choice for this question as it is not a control schedule process tool and technique.

The judgmental forecasting method incorporates intuitive judgments, opinions and subjective probability estimates. Some examples of judgmental forecasting are as follows:

Composite forecasts

Surveys

Delphi method

Scenario building

Technology forecasting

Forecast by analogy

Answer option C is incorrect. Autoregressive moving average is an example of the causal/econometric method.

Of all six processes, the control schedule process will take the majority of the time in the project time management knowledge area. Control schedule process is a method of monitoring the status of the project to update project progress and deal with the changes to the schedule baseline. It is concerned with: Determining the current status of the project Influencing the factors that create schedule changes Determining that the project schedule has changed Managing the actual changes as they occur Control schedule is a component of the Perform Integration Change Control process.

Answer options B, A, and D are incorrect. These processes will not take the longest to complete.

If Activity B uses seven days of float, which it can, it does not allow Activity D, G, or J to have any float available. This is because the total duration of path ABDGJK cannot exceed 30 days, the duration of the project. If Activity B uses the seven days of float, then the path meets the project's duration at Day 30.

Answer options B and A are incorrect. These are not the valid calculation.

Answer option C is incorrect. Seven represents the amount of float available on Activity G before Activity B uses the available float.

The only statement that is true is that the critical path shows the project's earliest date for completion. A critical path is the sequence of project activities, which add up to the longest overall duration. This determines the shortest time possible to complete the project. Any delay of an activity on the critical path directly impacts the planned project completion date (i.e. there is no float on the critical path). A project can have several, parallel, near critical paths. An additional parallel path through the network with the total durations shorter than the critical path is called a sub-critical or non-critical path. These results allow managers to prioritize activities for the effective management of project completion, and to shorten the planned critical path of a project by pruning critical path activities, by "fast tracking" (i.e., performing more activities in parallel), and/or by "crashing the critical path" (i.e., shortening the durations of critical path activities by adding resources).

Answer option C is incorrect. There can be more than one critical path, as two paths in the project network diagram can both take the same amount of time and be longer than any other paths in the project.

Answer option A is incorrect. The critical path can be, and often is, crashed with extra resources in an attempt to recover the project schedule.

Answer option B is incorrect. The critical path is the longest path to project completion.

PERT uses the formula of (O+4M+P)/6 to predict the duration of the project activities and the overall project schedule. Three-point estimate is a way to enhance the accuracy of activity duration estimates. This concept is originated with the Program Evaluation and Review Technique (PERT). PERT charts the following three estimates: Most likely (TM): The duration of activity based on realistic factors such as resources assigned, interruptions, etc. Optimistic (TO): The activity duration based on the best-case scenario Pessimistic (TP): The activity duration based on the worst-case scenario The expected (TE) activity duration is a weighted average of these three estimates: TE = (TO + 4TM + TP) / 6 Duration estimates based on the above equations (sometimes simple average of the three estimates is also used) provide more accuracy.

Answer option A is incorrect. This is not a valid formula.

Answer option D is incorrect. This almost describes the three-point estimate, but does not answer the question about PERT.

Answer option B is incorrect. This is the formula for the three-point estimate. Note the PERT, while similar, uses 4M and divides the result by six factors.

The estimate to complete is about knowing how much more money the project will need to complete its objectives. The estimate to complete (ETC) is the expected cost needed to complete all the remaining work for a scheduled activity, a group of activities, or the project. ETC helps project managers predict what the final cost of the project will be upon completion. The formula for the ETC is EAC- AC. The EAC is BAC/CPI. Here it is,

CPI = EV/AC

= (0.20*2,816,000)/495,000

= 563200/495,000

= 1.1378

EAC = BAC/ CPI

= 2,816,000/1.1378

= 2,474,952 (Approx)

ETC = EAC - AC

= 2,474,952 - 495,000

= 1,979,952

Answer options C and A are incorrect. These are not the valid answers for this question.

Answer option D is incorrect. This is the estimate at completion based on the current project performance.

Resource leveling heuristics limits the amount of time a resource is allowed to work in a given time period. This action typically increases the project duration. By adding additional resources to effort-driven activity the project can still complete, often, in the same schedule, otherwise the duration of the project will increase.

Answer option B is incorrect. Resource leveling heuristics does not change the project scope.

Answer option A is incorrect. This is not an instance of cutting the project scope.

Answer option D is incorrect. The project scope baseline is not affected by resource leveling heuristics.

The integrated change control process reviews proposed changes and determines what effect the change will have on the entire project. This includes scope, time, cost, quality, human resources, communication, risk, and procurement. Integrated change control is a way to manage the changes incurred during a project. It is a method that manages reviewing the suggestions for changes and utilizing the tools and techniques to evaluate whether the change should be approved or rejected. Integrated change control is a primary component of the project's change control system that examines the affect of a proposed change on the entire project.

Answer option A is incorrect. Scope change control focuses only on the effect of the change on the project scope.

Answer option B is incorrect. Schedule change control focuses only on the effect of the change on the schedule.

Answer option D is incorrect. The Change Control Board is a committee of key stakeholders, usually management, the project manager, and the project customer, to evaluate proposed changes. This board, however, is not a project process.

The project schedule network diagram is an output of the sequence activity process, not an input. This process uses five inputs: the activity list, the activity attributes, milestone list, the project scope statement, and the organizational process assets. The project schedule network diagram is an output of the sequence activity process. It represents a schematic display of the project's schedule activities and the logical relationship among them. This diagram can be produced manually or by using the project management software. It consists of complete project details, or one or more summary activities.

Answer options D, B and A are incorrect. These are inputs to the process.

These are examples of a time series method for forecasting project performance. Another method that fits with the time series method of forecasting is earned value management. Forecasting is the process of estimating or predicting in unknown situations. Forecasting is about predicting the future as accurately as possible with the help of all the information available, including historical data and knowledge of any future events that might impact forecasts. The forecasting methods are categorized as follows: Time series method: It uses historical data as the basis for estimating future outcomes. Causal/econometric method: This forecasting method is based on the assumption that it is possible to identify some factors that might influence the variable that is being forecasted. If the causes are understood, projections of the influencing variables can be made and used in the forecast. Judgmental method: Judgmental forecasting methods incorporate intuitive judgments, opinions, and subjective probability estimates. Other methods: Other methods may include probabilistic forecasting, simulation, and ensemble forecasting.

Answer option B is incorrect. Causal/econometric methods do not use the moving average, but models such as linear regression and non- linear regression.

Answer option A is incorrect. Judgmental methods for forecasting are based on intuition, opinions, and probability estimates.

Answer option D is incorrect. The estimate at completion method is an earned value management formula, which is part of the time series method for reporting and forecasting performance.

The only tool and technique for controlling the schedule is a corrective action. You should always report problems to management, the project customers, or key stakeholders as defined in the Communications Management Plan, but you should also always present a solution to the problem. A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are implemented in response to a customer complaint, abnormal levels of internal nonconformity, nonconformities identified during an internal audit or adverse or unstable trends in product and process monitoring such as would be identified by SP

C. It is method of identifying and eliminating the causes of a problem, thus preventing their reappearance. Examples of a corrective action are : Improvements to maintenance schedules Improvements to material handling or storage

Answer option C is incorrect. Trimming the project scope, which is a change request, is not a tool and technique for control the scheduling. It is, however, an output of the control schedule process and is sometimes a valid decision if the project is slipping on schedule performance.

Answer option A is incorrect. Work performance measurements are not a tool and technique for controlling the project schedule.

Answer option D is incorrect. The causes of the variance can help you determine the best action to take, but it is not a tool and technique for schedule control.

The outputs to the determine budget process are as follows: Cost performance baseline: The cost performance baseline is an authorized time-phased budget at completion. Project funding requirements: The project funding requirements are determined from total funding requirements and periodic funding requirements. Project document updates: The project document updates consists of risk register, cost estimates and project schedule.

Answer option B is incorrect. Scope baseline is an input to the determine budget process.

The schedule baseline is the only output of the develop schedule process among these answers. The three other outputs of the Develop Schedule Process are: project schedule, schedule data, and project document updates.

Answer option D is incorrect. Activity duration estimates are an output of the Estimate Activity Duration process.

Answer option A is incorrect. Work performance information is an input of the Control Schedule process.

Answer option C is incorrect. Resource calendars are an input to the Develop Schedule process.

The activity nodes of path ACFGJ equals 26 days and is the longest path to completion - it is the critical path.

ACFGJ= A(4)+C(8)+F(4)+G(6)+J(4)=26

What is a critical path?

A critical path is the sequence of project activities, which add up to the longest overall duration. This determines the shortest time possible to complete the project. Any delay of an activity on the critical path directly impacts the planned project completion date (i.e. there is no float on the critical path). A project can have several, parallel, near critical paths. An additional parallel path through the network with the total durations shorter than the critical path is called a sub-critical or non-critical path. These results allow managers to prioritize activities for the effective management of project completion, and to shorten the planned critical path of a project by pruning critical path activities, by "fast tracking" (i.e., performing more activities in parallel), and/or by "crashing the critical path" (i.e., shortening the durations of critical path activities by adding resources).

Answer option A is incorrect. ABEHJ takes only 22 days to complete; it is not the critical path. ABEHJ=A(4)+B(5)+E(2)+H(7)+J(4)=22

Answer option C is incorrect. ADGJ takes only 15 days to complete; it is not the critical path. ADGJ=A(4)+D(1)+G(6)+J(4)=15

Answer option B is incorrect. ACFIJ takes only 23 days to complete; it is not the critical path. ACFIJ=A(4)+C(8)+F(4)+I(3)+J(4)=23

The schedule baseline is a specific version of the project schedule developed from the schedule network analysis. It is built by networking individual work elements and verifying the path or paths with the longest total duration. That path is then compared against the project due date, or it may serve as the determinant of the project end date. Schedule baseline is a project schedule used in measuring project progress. It helps provide a comparison with the actual progress of work against the schedule and to determine if performance to date is within acceptable parameters. Any change caused by change in scope of the project invalidates the original schedule and requires a new baseline schedule.

Answer option A is incorrect. Management may impose constraints on the project, but according to the PMI, the baseline is developed from schedule network analysis.

Answer option B is incorrect. Constraints on the project typically include time, cost, and scope (among others), but the schedule baseline is only concerned with the time limits of the project.

Answer option C is incorrect. Project stakeholders are those entities within or without an organization, which: Sponsor a project or, Have an interest or a gain upon a successful completion of a project. Examples of project stakeholders include the customer, the user group, the project manager, the development team, the testers, etc. Stakeholders are anyone who has an interest in the project. Project stakeholders are individuals and organizations that are actively involved in the project, or whose interests may be affected as a result of project execution or project completion. They may also exert influence over the project's objectives and outcomes. The project management team must identify the stakeholders, determine their requirements and expectations, and, to the extent possible, manage their influence in relation to the requirements to ensure a successful project.

The various phases of the decision making process are as follows: Problem definition: This phase explores, clarifies and defines the problem. Problem solution generation: This phase draws out the new idea generating process by brainstorming multiple solutions and rejecting premature decisions. Ideas to action: This phase defines the evaluation criteria, rate pros and cons of alternatives and helps in selecting the best solution. Solution action planning: This phase involves key participants to gain acceptance and commitment to make the solution work. Solution evaluation planning: This phase performs the post implementation analysis, evaluations and lessons learned. Evaluation of the outcome and process: This phase evaluates how well the problem was solved or project goals were achieved.

Only change request is a valid answer. The five outputs of the control schedule process are work performance measurements, organizational process assets updates, change requests, the project management plan updates, and project document updates. Change requests are requests to expand or reduce the project scope, modify policies, processes, plans, or procedures, modify costs or budgets or revise schedules. These requests for a change can be direct or indirect, externally or internally initiated, and legally or contractually imposed or optional. A Project Manager needs to ensure that only formally documented requested changes are processed and only approved change requests are implemented.

Answer option D is incorrect. Activity resource requirement is not an output of the control schedule process.

Answer option A is incorrect. The project schedule is not an output of the control schedule process.

Answer option B is incorrect. Lessons learned is not an output of the control schedule process.

Parkinson's Law states that the work will expand to fulfill the time allotted to it. When you allow five percent additional time per activity the work will expand to consume the additional time that has been allotted to the project task. In other words, activities will not be completed early even if there are no errors or risks.

Answer options B, D, and C are incorrect. These are not the valid definitions of Parkinson's Law.

Reserve analysis is not an input to the determine budget process. It is a technique used for determining the budget. The inputs to the determine budget process are as follows: Activity cost estimates Basis of estimates Scope baseline Project schedule Resource calendars Contracts Organizational process assets

The project risks are documented in the risk register - including the probability and impact information. The risk register is an output of the Identify Risks process. Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. Description, category, cause, probability of occurring, impact on objectives, proposed responses, owner, and the current status of all identified risks are put in the risk register.

Answer option A is incorrect. The risk management plan addresses that how risks will be identified, monitored, and controlled.

Answer option D is incorrect. The activity attributes information is needed, but risks are not part of the activity attributes.

Answer option B is incorrect. The schedule management plan addresses how the schedule will be created, executed, and controlled.

Fast tracking allows phases of the project to overlap and increases risk for the project. When new risks are introduced into the project they should be recorded in the risk register. Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. Description, category, cause, probability of occurring, impact on objectives, proposed responses, owner, and the current status of all identified risks are put in the risk register.

Answer option B is incorrect. The costs do not change because of the new fast tracking requirement.

Answer option C is incorrect. Resource calendars show the availability of project resources.

Answer option A is incorrect. Organizational process assets are updated as a result of updating the risk register when you consider that the risk register will become part of the organizational process assets. However, this is not the best answer for this question.

When project team workers complete repetitive tasks, efficiency through learning will diminish the overall duration of the project tasks. A parametric estimate is an estimate that uses a parameter to predict the costs of the project, such as cost per network drop or cost per software license. Parametric estimating technique utilizes the statistical relationship that exists between a series of historical data and a particular delineated list of other variables.

Answer options B, D, and C are incorrect. These are not the valid statements.

Activity I can actually take all the way to Day 30 to complete. Note in the figure that Activity I does not need to be completed before Activity K can begin. This allows Activity I to take until Day 30 to complete as its late finish.

Answer option C is incorrect. This is the earliest Activity I may finish.

Answer options B and A are incorrect. These are not the valid calculation.

This happens when most of the stakeholders are concerned about risks. Risk factors are determined for the scope of the project, requirements, design and strategy, technology, processes (for development, payment, change management, risk management, and closing the project), and conditions of the project. Risk factors are high when most of the stakeholders have concerns. Even if one important feature of a project appears too difficult to execute, the risk is high. Issues like acceptable type of bugs and number of bugs for user acceptance, terms for closing the project, payments not being clear or misunderstood, make the project highly risky.

Answer option B is incorrect. Risks are low when issues like the format of the forms are not finalized but the functionality is thoroughly understood and solutions are approved.

Answer option D is incorrect. Risks are rated medium when a very small number of stakeholders have a few concerns. For example, the development team may not have very advanced knowledge of the technology but could provide some work around. Another could be that the customer's people cannot finalize a few unimportant workflows.

Answer option C is incorrect. It is an invalid answer.

Activity E has four days of float. The entire project will take 19 days to complete. Float, also called slack, is the amount of time an activity can be delayed without affecting any subsequent activities. There are two types of floats available: Free Float: It is the amount of time a schedule activity can be delayed without delaying the early start date of any immediately following schedule activities. Total Float: It is the total amount of time that a schedule activity may be delayed from its early start date without delaying the project finish date, or violating schedule constraint. Float is calculated by using the critical path method technique.

Answer option D is incorrect. Activity E is not on the critical path.

Answer options C and B are incorrect. These are incorrect calculations of the amount float available for Activity

E.

When it comes to creating the project's activity duration estimating, the critical path is not yet a concern. The critical path will be determined by the duration of the project activities and the sequencing of the project events. A critical path is the sequence of project activities, which add up to the longest overall duration. This determines the shortest time possible to complete the project. Any delay of an activity on the critical path directly impacts the planned project completion date (i.e. there is no float on the critical path). A project can have several, parallel, near critical paths. An additional parallel path through the network with the total durations shorter than the critical path is called a sub-critical or non-critical path. These results allow managers to prioritize activities for the effective management of project completion, and to shorten the planned critical path of a project by pruning critical path activities, by "fast tracking" (i.e., performing more activities in parallel), and/or by "crashing the critical path" (i.e., shortening the durations of critical path activities by adding resources).

Answer option C is incorrect. The resource calendar must be considered for the availability of the project resource.

Answer option A is incorrect. The project calendar must be considered to determine when the project work is allowed to take place in the different sites.

Answer option D is incorrect. Time zone differences must be considered for communication demands and coordination of events between the geographical sites.

The project charter defines the business needs, the project justification, and the current requirements for the new warehouse that an organization wants to create. The project charter is the document that formally authorizes a project. The project charter provides the project manager with the authority to apply organizational resources to project activities. According to PMBOK Guide, the project charter should address the following information: Requirements that satisfy customer, sponsor, and other stakeholder needs, wants and expectations Business needs, high-level project description, or product requirements that the project is undertaken to address Project purpose or justification Assigned Project Manager and authority level Summary milestone schedule Stakeholder influences Functional organizations and their participation Organizational, environmental and external assumptions Organizational, environmental and external constraints Business case justifying the project, including return on investment Summary budget If required, it also authorizes the next project phase, and updates the charter. The project manager should always be assigned prior to the start of planning, and preferably while the project charter is being developed.

Answer option A is incorrect. The decomposition of the project scope results in the project's Work Breakdown Structure (WBS). The work packages of the WBS will help the project manager and team create accurate time and cost estimates.

Answer option B is incorrect. The feasibility study is usually created before the project scope, though not always. This document defines the likelihood of the project being able to reach its objectives.

Answer option D is incorrect. The project scope defines all that the project should complete.

Report performance is a project process that collects and distributes information on the project work.

Answer option C is incorrect. Earned value management may be used as the tool and technique for determining project performance.

Answer option D is incorrect. Monitor and control project performance is not a project process so this choice is not valid.

Answer option A is incorrect. Corrective action is a response to project performance to bring the project back into alignment with expectations.

Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. In this instance it's $350,000 divided by $425,000 for a CPI of .82.

Answer option B is incorrect. $350,000 is the earned value of the project.

Answer option A is incorrect. -$75,000 is the cost variance for the project.

Answer option D is incorrect. -$187,500 is the predicted variance at the completion of the project.

The best answer is to make certain quality control happens in the project. This means reviewing past work and ensuring that future inspections are met.

Answer option A is incorrect. Removing the lag time does not solve the problem. It actually removes quality control requirements.

Answer option C is incorrect. Only inspecting future work for quality control ignores potential past quality issues in the project.

Answer option D is incorrect. While this answer is technically correct, it does not address the quality faults that may be creeping into the project deliverables.

A records management system is used to manage contract, and procurement documentation and records by the project managers. It includes specific set of processes, related control functions, and automation tools that are merged as part of the project management information system.

Answer option D is incorrect. Payment system determines the payments to the seller, which is processed by the account payable system of the buyer after certification of satisfactory work by the authorized person on the project team.

Answer option C is incorrect. Inspection and audits are required by the buyer and supported by the seller as mentioned in the procurement contract during execution of the project to verify the compliance in the seller's work processes or deliverables.

Answer option B is incorrect. Performance reporting offers the management with the information about how effectively the seller is achieving the contractual objectives.

Anna needs to create a power/interest grid. This grid groups the stakeholders based on their level of authority and level of concern regarding the project outcomes. The power/interest grid forms a group of the stakeholders based on their level of authority (power) and their level of interest in the project. Interest accounts to what degree the stakeholders are affected by examining the project or policy change, and to what degree of interest or concern they have about it. Power accounts for the influence the stakeholders have over the project or policy, and to what degree they can help to accomplish, or block, the preferred change. Stakeholders, who have high power and interests associated with the project, are the people or organizations that are fully engaged with the project. When trying to generate strategic change, this community is the target of any operation.

Answer option B is incorrect. A salience model classifies stakeholders based on their power, urgency, and legitimacy.

Answer option C is incorrect. A power/influence grid groups the stakeholders based on their power and influence.

Answer option D is incorrect. A communications matrix simply maps which stakeholder need to communicate with other stakeholders.

Work performance measurements are created from the work performance information. WPMs are an output of Control schedule, Control cost, and Control scope processes, which are monitoring and controlling processes. WPMs consist of planned versus actual performance indicators with respect to scope, schedule, and cost. They are documented and communicated to the stakeholders and are used to make project activity metrics, such as the following: Planned vs. Actual Technical performance and Scope performance Planned vs. Actual Schedule performance Planned vs. Actual Cost performance

Answer option A is incorrect. Work performance information is an input to the control schedule process and includes information on project progress and activity start and finish information.

Answer option C is incorrect. The project management plan is an input to the control schedule process.

Answer option B is incorrect. The project schedule is an input to the control schedule process.

This is an example of analogous estimate as you are creating an analogy between two similar projects. This estimating approach is also known as a top-down estimate type, and is somewhat unreliable.

Answer option C is incorrect. Expert judgment relies on experts, consultants, or subject matter experts to guide your project decisions. An analogous estimate is a form of expert judgment, but this is not the best choice for this question.

Answer option B is incorrect. A bottom-up estimate creates an activity duration estimate for each work package in the WBS. It is the longest estimate type to create, but it also the most reliable.

Answer option D is incorrect. A rough order of magnitude estimate is a quick estimate, usually for project costs, that often has a broad range of variance attached to the estimate.

This is an example of a weighting system as the values you're measuring are weighted towards experience.

Answer option B is incorrect. A preferred vendors list describes the vendors you're allowed to choose from in the organization.

Answer option A is incorrect. A screening system sets qualifiers in place, such as the vendor must have a PMP on staff, in order to qualify for the project.

Answer option C is incorrect. The benefits-cost analysis defines the total number of benefits to the number of costs the project requires.

This is an example of fast tracking. Fast tracking allows phases to overlap in order to compress the project schedule.

Answer option D is incorrect. Crashing adds labor to the project in order to complete effort-driven activities in less time.

Answer option B is incorrect. The lead time allows individual activities to overlap, not entire phases.

Answer option A is incorrect. Resource leveling heuristics are rules that limit the amount of time a labor resource may contribute to the project in a given time period.

Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI = Earned Value (EV) / Planned Value (PV) If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target. You can find the planned value by multiplying where Billy should be in the project, 100 percent, by the project's budget. In this instance the planned value is $655,000 because she is to be 100 percent complete.

Answer option B is incorrect. The SPI simply reports a value not an explanation.

Answer option A is incorrect. 1.23 is the cost performance index for the project.

Answer option D is incorrect. $524,000 is the earned value for the project.

The resource calendar defines when and how long a resource will be utilized. Not all resources are human - facilities, equipment, and other things are resources that must be scheduled. A resource calendar is used to make sure that work resources (people and equipment) are scheduled only when they are available for work. They affect a specific resource or category of resources. By default, the working time settings in the resource calendar are the same as in the project calendar. However, a user can customize the resource calendar to show individual schedule information, such as vacations, leaves of absence, or equipment maintenance time.

Answer option B is incorrect. The project scope would not address resource utilization.

Answer option A is incorrect. The project schedule is not the best answer for this question. The project schedule is an in depth plan of the important project phases, activities, milestones, tasks, and the resources allocated to each task.

Answer option C is incorrect. The project calendar documents when the project work will take place, not the utilization of resources.

The schedule performance index shows how well the project is performing on schedule. It is found by dividing the earned value by the planned value. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

Answer option D is incorrect. EV-AC is the project's cost variance.

Answer option B is incorrect. EV/AC is the project's cost performance index.

Answer option A is incorrect. EV-PV is the project's schedule variance.

This project is not performing well on schedule, but moderately well on costs. The project's TCPI based on the current BAC is 1.02. To-complete Performance Index (TCPI) is the measured projection of the anticipated performance required to achieve either the BAC or the EAC. TCPI indicates the future required cost efficiency needed to achieve a target EAC (Estimate At Complete).Once approved, the EAC supersedes the BAC as the cost performance goal. Any significant difference between TCPI and the CPI needed to meet the EAC should be accounted for by management in their forecast of the final cost. The formula for TCPI is as follows:

TCPI = {(BAC-EV)/(BAC-AC)}

Answer option D is incorrect. 0.95 is the project's TCPI value based on the estimate at completion.

Answer option C is incorrect. 0.75 is the project's schedule performance index.

Answer option B is incorrect. 0.010 is not a valid calculation.

Resource leveling is a rule of limiting the total number of hours a project team may work during a given time period in the project. If management restricts the project work to 45 per week, as in this example, Holly's schedule will likely increase because the project team can't complete as much work in one given time period.While this may be seen as a constraint, because it limits Holly's options, it's technically called a resource leveling heuristic.

Answer option B is incorrect. It is an assumption that's believed to be true, but it hasn't been proven to be true.

Answer option C is incorrect. Execution variance analysis describes the difference between what was planned and what was executed. A better term for this experience would simply be a scope variance, scope change, or defect.

Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. In this instances it is $270,000 divided by $335,000 for a CPI of .81.

Answer option B is incorrect. .67 is actually the schedule performance index.

Answer option D is incorrect. -$65,000 is the cost variance for the project.

Answer option A is incorrect. -$135,000 is the schedule variance of the project.

Crashing adds more workers to the project team. Crashing allows the project to complete faster because there are more people helping with the project work.

Answer option D is incorrect. Reducing the project scope is called descoping or project scope changes.

Answer option A is incorrect. Crashing does not consider the working hours.

Answer option B is incorrect. Resource leveling actually increases the project duration.

The schedule performance index shows how well the project is performing on its schedule goals. The SPI can be found by dividing the earned value by the planned value. In this instance, it is $2,025,000 divided by $2,250,000 for .90. The closer to 1, the better the performance. Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI = Earned Value (EV) / Planned Value (PV) If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target.

Answer option B is incorrect. 0.98 is the cost performance index.

Answer option A is incorrect. 1.02 is the to-complete performance index.

Answer option D is incorrect. -$108,120 is the variance at completion based on current performance.

The scheduling tool is the only other tool that can help Winnie to create an updated project schedule. The scheduling tool is used in combination with manual methods or further project management software to carry out the schedule network analysis to produce an updated project schedule.

Answer option A is incorrect. The critical path method can be analyzed, but it is a part of the project management information system. In addition, the critical path is not better or worse than the critical chain method so by having both answers among the choices both answers are cancelled.

Answer option D is incorrect. The critical chain method can be analyzed, but it is the part of the project management information system. In addition, the critical path is not better or worse than the critical path method so by having both answers among the choices both answers are cancelled.

Answer option B is incorrect. The schedule management plan may need to be referenced to create a new project schedule, but it is not a tool that Winnie can use.

The best answer is simply an exception report. An exception report refers and documents the major mistakes, mishaps, and goofs. In other words, it itemizes the important and critically significant piece of documentation that is vital to the proper and effective functioning of a project. It does not document what has gone right, but rather documents what has gone wrong.

Answer option C is incorrect. A performance management report is not a valid project management report.

Answer option A is incorrect. The question is asked about cost and schedule so this answer would not be appropriate for both the cost and the schedule.

Answer option D is incorrect. The question is asked about cost and schedule so this answer would not be appropriate for both the cost and the schedule.

Soft logic can be completed in any order without affecting the outcome of the deliverables. Soft logic is also known as preferential logic, preferred logic, and discretionary dependency. It is defined on the basis of knowledge of best practices and standard procedures for the particular application area. Soft logic is defined by the project management team based on well- known practices in a specific desired sequence.

Answer options A, D, and C are incorrect. These are not valid definitions of soft logic.

The role of operations manager is to perform various management roles in a core business area, such as research and development, design, manufacturing, provisioning, testing, or maintenance. The operations manager directly deals with constructing and maintaining the saleable products or services of the enterprise.

Answer option C is incorrect. A project manager is an expert in the field of project management. He is responsible for the entire project from inception to completion. The project manager leads the team and helps negotiate the multiple relationships within any project whether with clients, team members, firm principals or any variety of partners and functions as the hub of a project.

Answer option A is incorrect. The role of a functional manager is to perform various management roles within an administrative or functional area of the business, such as human resources, finance, accounting, or procurement. He is assigned his own permanent staff to carry out the ongoing work. He should have a clear directive to manage all tasks within his functional area of responsibility.

Answer option D is incorrect. Seller is also known as a vendor, supplier or contractor. They are external company's elements that enter into a contractual agreement to provide components or services necessary for the project.

The Project Staffing Management Plan will define how resources are brought onto the project team, how they are managed while on the project team, and how they may be released from the project team. The staffing management plan is part of human resources plan. It is a subsidiary plan of the overall project management plan and defines when project team members will be brought onto and released from the project. It describes when and how human resource requirements will be met. Depending upon the needs of the project, it can be formal or informal, highly detailed or broadly framed. The staffing management plan may include the following items: Staff acquisition, resource calendars, staff release plan, training needs, recognition and rewards, compliance, and safety.

Answer option C is incorrect. The communications management plan defines project communication requirements and expectations.

Answer option A is incorrect. This is not a valid project management plan.

Answer option D is incorrect. The project schedule management will define when resources are needed and scheduled, but not how resources are allowed to be released from the project.

The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BAC. Planned value is the percentage of where the project should be at this time multiplied by the BAC. In this example, EV = 40% of BAC = 260,000, and PV = 50% of BAC = 325,000 SV = 260,000 - 325,000 = -65,000

Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula:

SV = Earned Value (EV) - Planned Value (PV)

If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

Answer options B, C, and A are incorrect. These are not valid calculations of the schedule variance.

Discrete effort is a term used to describe the work that can be measured and traced to the components in the work packages. It is the actual work to create the project deliverables. Discrete effort refers to the particular work effort that can be identified and traced as having a direct tie to the final completion of the project- related work breakdown structure components and the deliverables. It is necessary that all the efforts have a specific measurable end product or end result.

Answer options A, D, and C are incorrect. These are not valid definitions of discrete effort.

Rolling wave planning is a technique to plan and do the most imminent project work before moving onto the details that are far off in the project schedule and project plan. Rolling wave planning is a technique for performing progressive elaboration planning where the work to be accomplished in the near future is planned in detail at a low level of the work breakdown structure. The work to be performed within another one or two reporting periods in the near future is planned in detail as work is being completed during the current period.

Answer option D is incorrect. Decomposition is the process of breaking down work packages into the activity list.

Answer options A and C are incorrect. These are not valid project management terms.

PERT, which means the Program Evaluation and Review Technique, is a duration estimating technique that uses the formula (O+(4M)+P)/6 for the optimistic, most likely, and pessimistic values for each work package. A PERT chart is a project management tool used to schedule, organize, and coordinate tasks within a project. PERT stands for Program Evaluation Review Technique, a methodology developed by the U.S. Navy in the 1950s to manage the Polaris submarine missile program. A PERT chart presents a graphic illustration of a project as a network diagram consisting of numbered nodes (either circles or rectangles) representing events, or milestones in the project linked by labeled vectors (directional lines) representing tasks in the project. The direction of the arrows on the lines indicates the sequence of tasks.

Answer option C is incorrect. This is the formula for the three-point estimate.

Answer options A and B are incorrect. These are not the valid formulas.

The Develop Project Charter process documents the formal authorization of a project or a phase. It also documents initial requirements that satisfy the stakeholder's needs and expectations. It is used to validate the decisions made during the previous iteration of the Develop Project Charter process. The various inputs of this process are as follows: Project statement of work

Business case

Contract

Enterprise environmental factors

Organizational process assets

The output of the Develop project Charter process is as follows:

Project charter

Answer option A is incorrect. Procurement document is the input of the Identify Stakeholders process.

The project will end on a Wednesday. If the project work commences on a Tuesday, there will be four days to complete in that week. That will bring the project work down to 63 days of remaining work. Each work week counts as five days of work. 63 divided by 5 is 12 work weeks with three days remaining. The 63rd remaining day will complete on a Wednesday.

Answer options C, D, and B are incorrect. These are not the valid answers.

The schedule performance index can be found by dividing the earned value by the planned value. In this project, it's $447,000 divided by the $558,750 for a value of 0.80. Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance.

SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula:

SPI = Earned Value (EV) / Planned Value (PV)

If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target.

Answer option A is incorrect. "80" is not the same value as ".80".

Answer option B is incorrect. 1.02 is the cost performance index.

Answer option C is incorrect. 102 is not a valid calculation for this question.

Project document updates are not an output of the Define Activities process. Project document updates are the outputs for estimate activity resources. Project document updates include the following:

Activity list

Activity attributes

Resource calendars

Answer option A is incorrect. The activity list is an output of the define activities process.

Answer option C is incorrect. The activity attributes is an output of the define activities process.

Answer option B is incorrect. The milestone list is an output of the define activities process.

Crashing adds labor to the project. This approach adds costs to the project because you will have to pay for the added labor.

Answer option B is incorrect. Fast tracking allows entire phases to overlap in the project. This approach adds risks to the project.

Answer option D is incorrect. The critical chain method considers the availability of project resources.

Answer option A is incorrect. Adding lead time to activities allows activities to overlap and does not add project costs.

According to the PMBOK, the main output of the identify stakeholders process is the stakeholder register. The stakeholder register is a project management document that contains a list of the stakeholders associated with the project. It assesses how they are involved in the project and identifies what role they play in the organization. The information in this document can be very perceptive and is meant for limited exchange only. It also contains relevant information about the stakeholders, such as their requirements, expectations, and influence on the project.

Answer option A is incorrect. The communications management plan is an output of communications planning.

Answer option D is incorrect. The stakeholder management strategy is an output of stakeholder identification, but it is not the main output.

Answer option C is incorrect. Requirements are not an output of the stakeholder identification process.

The project calendar defines the working hours for the project, including any days that project work will not happen due to the organizational calendar.

Answer option D is incorrect. The company calendar is not the correct choice for this question.

Answer option C is incorrect. The organizational calendar is not the correct choice for this question.

Answer option B is incorrect. The resource calendar defines whether resources the project needs will be available. The resources include people, facilities, equipment, and other things that project needs to be completed.

This is an example of a preventive action as you're working with the team before they install the doors to train them on the installation. The checklist is a quality control tool but the question was asking for a project execution activity. Preventive and corrective actions are part of project execution.

Answer option D is incorrect. Quality control is a controlling and monitoring process, not an executing process.

Answer option B is incorrect. The defect repair validation comes after the project team has corrected an error - something that has not occurred in this instance.

Answer option C is incorrect. Corrective action is a response to something that needs to be corrected in the project.

Management wants to know the cost performance index (CPI). You can find the CPI by first finding the earned value (EV) and then dividing it by the actual costs (AC) spent to date on the project. You find EV by multiplying percent complete by the project's budget; in this instance that's $344,250. The actual costs are reported as $365,000. The formula for the CPI on this project is $344,250 / $365,000 for a value of .94. What is CPI? Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. What is BCWP (or EV)? Budgeted cost of work performed (BCWP) or Earned Value (EV) is the value of completed work. It is the budgeted amount for the work actually completed on the schedule activity during a given time period.

Answer options C, A, and D are incorrect. These do not reflect an accurate value for the project's cost performance index. The project is performing moderately well on cost as the closer the CPI is to 1 the better the project's performance.

Parkinson's Law states that work expands to fill the amount of time allotted to complete the work. If Jim allows 25 hours for a project team member to complete a 20-hour task, it will likely take the team member 25 hours to do the work.

Answer option A is incorrect. This is a description of the Expectancy Theory.

Answer option B is incorrect. This is a description of the learning curve.

Answer option D is incorrect. This is a description of a portion of the Law of Diminishing Returns.

Resource leveling usually increases the overall duration of the project because management restricts the amount of labor which can be utilized in a given time period. Resource leveling heuristics is a prioritization method that allocates inadequate resources to critical path activities first. It is a schedule network analysis technique useful to a schedule that has already been analyzed by the critical path method. It is used when shared or critical essential resources are only available at certain times, in limited quantities, or to keep resource usage at a constant level. It is a technique that resolves resource conflicts by delaying tasks within their slack allowances. Resource leveling is the process in which project teams come across problems when developing their project schedules. If a company has multiple projects running simultaneously that require the same resources, then problems can arise. It can often cause the critical path method to change.

Answer option C is incorrect. New resources are not added as part of resource leveling.

Answer option D is incorrect. Labor remains the same in resource leveling, but their availability decreases.

Answer option B is incorrect. New resources are not added as part of resource leveling.

Resource leveling is a rule of limiting the total number of hours a project team may work during a given time period in the project. If management restricts the project work to 45 per week, as in this example, Holly's schedule will likely increase because the project team can't complete as much work in one given time period. While this may be seen as a constraint, because it limits Holly's options, it's technically called a resource leveling heuristic.

Answer option B is incorrect. It is an assumption that's believed to be true, but it hasn't been proven to be true.

Answer option C is incorrect. Execution variance analysis describes the difference between what was planned and what was executed. A better term for this experience would simply be a scope variance, scope change, or defect.

The critical path is the path in the project network diagram with the longest duration. In project management, a critical path is the sequence of project network activities which add up to the longest overall duration. This determines the shortest time possible to complete the project. Any delay of an activity on the critical path directly impacts the planned project completion date (i.e. there is no float on the critical path). This project actually has two critical paths. Path ACGIJ takes 23 days. Path ACGHJ also takes 23 days. When Activity I decreases by three days the critical will still take 23 days to complete as Path ACGHJ remains a critical path.

Answer option A is incorrect. The duration of the critical path did not increase.

Answer option D is incorrect. The duration of the path ACGIJ will decrease to 20 days but the critical path will remain at 23 days.

Answer option B is incorrect. The critical path did not reduce to 17 days.

Total float is the time you can delay an activity without delaying the project end date, whereas free float is on each activity and does not affect the early start date of successor activities. Float, also called slack, is the amount of time an activity can be delayed without affecting any subsequent activities. There are two types of floats available: Free Float: It is the amount of time a schedule activity can be delayed without delaying the early start date of any immediately following schedule activities. Total Float: It is the total amount of time that a schedule activity may be delayed from its early start date without delaying the project finish date, or violating schedule constraint. Float is calculated by using the critical path method technique.

Answer options C, A, and D are incorrect. These are not accurate definitions of free float and total float.

Communication channels are paths of communication with stakeholders in a project. The number of communication channels shows the complexity of a project's communication and can be derived through the formula shown below: Total Number of Communication Channels = n (n-1)/2 where, n is the number of stakeholders. Hence, a project having five stakeholders will have ten communication channels. Putting the number of stakeholders in the formula we can get the required communication channel for the project. It is (80 x 79)/2 for 3,160 communication channels.

Variance analysis is the study to determine why a variance in the project exists. Alice's late work may be for a number of reasons so Gary needs to determine why in order to address the problem. Variance analysis is a process that examines the dissimilarities between the planned and the actual budget or schedule in order to discover unacceptable risks to the budget, schedule, quality, or scope of the project. It is a method for resolving the total variance in the set of scope, schedule, and cost variables into particular component variances that are associated with defined factors affecting the cost, scope and schedule variables.

Answer option D is incorrect. Discipline is not the best answer as Gary, at this point, is simply reviewing the situation to determine why the variance exists.

Answer option C is incorrect. Quality control is the inspection of the work results to prove the existence of quality and to prevent mistakes from reaching the customer.

Answer option B is incorrect. This may be a type of leadership, but it is not the best answer for the question.

According to the question, you are required to calculate the cost performance index (CPI) of the project. Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. Now, putting the provided values in the formula: CPI = EV / AC = 325 / 410 = 0.792 As the CPI 0.792 is lesser than 1, it shows that the schedule performance is below expectation. What is BCWP (or EV)? Budgeted cost of work performed (BCWP) or Earned Value (EV) is the value of completed work. It is the budgeted amount for the work actually completed on the schedule activity during a given time period. What is BCWS (or PV)? Budgeted Cost of Work Scheduled (BCWS) or Planned Value (PV) is the authorized budget assigned to the scheduled work to be accomplished for a schedule activity or Work Breakdown Structure (WBS) component. What is ACWP (or AC)? Actual cost of work performed (ACWP) or Actual Cost (AC) is the total costs actually incurred and recorded in accomplishing work performed during a given time period for a schedule activity. It is the cost of the work to date, including direct and indirect costs. AC is money that has actually been expended to date.

Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target. The earned value in this instance is forty percent of the project budget, $778,000, and the planned value is $398,000 because George is to be fifty percent done at the end of the second quarter, as the work is spread evenly across all quarters. The schedule variance is -$77,800 for the project.

Answer option A is incorrect. .96 represents the cost performance index.

Answer option C is incorrect. -$34,500 represents the project's variance at completion if the project continues as is.

Answer option D is incorrect. -$13,800 is the cost variance for the project.

Corrective actions should be taken to move the results of the project work back into alignment with the project scope. The project team must start their activities on time and finish on time. A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are implemented in response to a customer complaint, abnormal levels of internal nonconformity, nonconformities identified during an internal audit or adverse or unstable trends in product and process monitoring such as would be identified by SP

C. It is method of identifying and eliminating the causes of a problem, thus preventing their reappearance. Examples of a corrective action are :Improvements to maintenance schedulesImprovements to material handling or storage

Answer option C is incorrect. Management reserve is time and funds allotted for unforeseen issues and risks within the project.

Answer option A is incorrect. Padding each estimate may cause the project to succumb to Parkinson's Law: work expands to fill the amount of time allotted to it. In addition, the project team may still delay the start time of their project assignments.

Answer option B is incorrect. Disciplining the project team may be a good option if the problem continues. The best option is to first apply corrective actions.

The schedule variance is the earned value minus the planned value. In this instance, it is $938,260-$1,055,543 = -$117,282. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

Answer option D is incorrect. This is the cost variance for the project.

Answer option A is incorrect. This is the variance at completion.

Answer option C is incorrect. This is the inverse of the earned value.

This is an example of a three-point estimate. A three-point estimate records the optimistic, most likely, and the pessimistic duration, and then records an average for the predicted duration Three-point estimate is a way to enhance the accuracy of activity duration estimates. This concept is originated with the Program Evaluation and Review Technique (PERT). PERT charts the following three estimates: Most likely (TM): The duration of activity based on realistic factors such as resources assigned, interruptions, etc.

Optimistic (TO): The activity duration based on the best-case scenario

Pessimistic (TP): The activity duration based on the worst-case scenario

The expected (TE) activity duration is a weighted average of these three estimates:

TE = (TO + 4TM + TP) / 6

Duration estimates based on the above equations (sometimes simple average of the three estimates is also used) provide more accuracy. It can be calculated as follows:

TE = ( 20 + 45*4 + 90) / 6

= 290/6

=48

Answer options B, C, and D are incorrect. These are not the valid answers for this question.

Forecasting method is a technique used in generating performance reports. Forecasting is the process of estimating or predicting in unknown situations. Forecasting is about predicting the future as accurately as possible with the help of all the information available, including historical data and knowledge of any future events that might impact forecasts. The forecasting methods are categorized as follows: Time series method: It uses historical data as the basis for estimating future outcomes. Causal/econometric method: This forecasting method is based on the assumption that it is possible to identify some factors that might influence the variable that is being forecasted. If the causes are understood, projections of the influencing variables can be made and used in the forecast. Judgmental method: Judgmental forecasting methods incorporate intuitive judgments, opinions, and subjective probability estimates. Other methods: Other methods may include probabilistic forecasting, simulation, and ensemble forecasting. It is one of the tools and techniques of the report performance process.

Answer option A is incorrect. Work performance information is the data gathered on the status of the project schedule activities that are performed to accomplish the project work. This data is collected as part of the Direct and Manage Project Execution processes. WPI includes the following: Deliverables status Schedule Progress Costs incurred It is used as an input in generating the report performance process.

Answer option C is incorrect. Work performance measurements are created from the work performance information. WPMs are an output of Control schedule, Control cost, and Control scope processes, which are monitoring and controlling processes. WPMs consist of planned versus actual performance indicators with respect to scope, schedule, and cost. They are documented and communicated to the stakeholders and are used to make project activity metrics, such as the following: Planned vs. Actual Technical performance and Scope performance Planned vs. Actual Schedule performance Planned vs. Actual Cost performance They are used as an input in generating the report performance process.

Answer option B is incorrect. Change requests are requests to expand or reduce the project scope, modify policies, processes, plans, or procedures, modify costs or budgets or revise schedules. These requests for a change can be direct or indirect, externally or internally initiated, and legally or contractually imposed or optional. A Project Manager needs to ensure that only formally documented requested changes are processed and only approved change requests are implemented. It is an output of the report performance process.

Templates are used to identify the typical schedule milestones in the Define Activity process. The tools and techniques used in defining the activity process are as follows: Decomposition: It is used to further divide the project work package into a more smaller and convenient form called activities. Rolling Wave Planning: It is a form of progressive elaboration planning where the work to be accomplished in the near term is planned in detail and future work is planned at a higher level of WBS. Templates: It is an activity list or a part of the activity list taken from the previous project and used in a new project. Expert Judgement: The skilled members in a project team or other experts who develop project scope statements can help provide knowledge in defining activities.

In severe cases, new schedule duration estimates with new forecasted start and finish dates are needed. In these instances, it is an example of using the control schedule process. Control schedule process is a method of monitoring the status of the project to update project progress and deal with the changes to the schedule baseline. It is concerned with: Determining the current status of the project Influencing the factors that create schedule changes Determining that the project schedule has changed Managing the actual changes as they occur Control schedule is a component of the Perform Integration Change Control process.

Answer option B is incorrect. The activity resources would only address the addition or replacement of resources needed to complete the project work.

Answer option A is incorrect. This is a tempting choice, but according to the PMBOK, new schedules are part of the control schedule process.

Answer option D is incorrect. Develop schedule is not the best choice for this question. It is a process of analyzing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule.

The communications management plan will define who will receive what information.

Answer option B is incorrect. The project sponsor may be a recipient but the project communications management plan is the best selection.

Answer option A is incorrect. Functional management is not the best choice in a projectized structure.

Answer option D is incorrect. The project customer may receive a copy of the report, but the project communications management plan should direct the communications.

he schedule variance can be found by subtracting the planned value form the earned value. In this instance, it is $2,025,000 minus $2,250,000. SV = 2,025,000 - 2,250,000 = -225,000 Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

Answer option A is incorrect. This is the cost variance for the project.

Answer option B is incorrect. 13 percent is not a valid answer.

Answer option D is incorrect. This is not a valid variance for this question; variances are typically negative numbers.

Performance reports are distributed through the push technique. This means that the project manager distributes the reports regularly through a mechanism, such as email.

Answer option C is incorrect. One-to-one technique describes a conversation between two people.

Answer option B is incorrect. Many-to-many technique describes a conversation between many people.

Answer option D is incorrect. A pull technique describes the recipients of the report "pulling" the information, such as from a Website.

Project scope is the effort that must be required to gather a client's plan, goals for space, purpose, properties, impact, and stage of eminence. Scope management sets the boundaries for the project and is the foundation on which the other project elements are built. Scope management helps to organize the work responsibilities and their requirements for successful completion. Managing the project scope is primarily concerned with defining and controlling what is and what is not included in the project.

Apportioned effort is effort applied that you cannot subdivide into work packages, but it is related to, usually in a supportive role, to the completion of the project work packages. The project management overhead, such managing the project work, is an example of apportioned effort. Apportioned effort (AE) is the effort that is applied to the project-related work that cannot be easily and readily divided into discrete efforts for those tasks, but which is associated in a direct proportion to the discrete work efforts that are capable of being measured. The presence of apportioned effort relies particularly on the performance of further efforts.

Answer option C is incorrect. This is an example of discrete effort.

Answer option A is incorrect. This is an example of a scope change that has not been approved.

Answer option D is incorrect. This is an example of a scheduling technique.

The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BA

C. Planned value is the percentage of where the project should be at this time multiplied by the BA

C. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target. In this example, EV = 40% of BAC = 300,000, and PV = 50% of BAC = 375,000 SV = 300,000 - 375,000 = -75,000

Answer options C, B, and D are incorrect. These are not the correct values for the schedule variance.

The graphic shown in the figure is a communications bull's eye. The project manager must keep the project within the boundaries defined by the bull's eye or he will need to generate a performance report. This is an example of management by exception because the project manager only communicates with management when there is an exception, or variance, within the project.

Answer options C, B, and D are incorrect. These are not valid terms for the communications bull's eye.