CAM Variance Analysis & Corrective Actions 2

Question 1

A control account's Schedule Performance Index (SPI) is 1.15. What does this indicate?

Accepted Answer

The project is accomplishing 15% more work than planned for time elapsed

Answer

The project is 15% over budget

Answer

The project is 15% behind schedule

Answer

The project will complete 15% late

Question 2

In earned value management, what is a 'reprogramming' action?

Accepted Answer

A formal comprehensive rebaselining that establishes a new Performance Measurement Baseline

Answer

Updating project scheduling software tools

Answer

Reassigning resources to different work packages

Answer

Changing the program's reporting period

Question 3

A CAM observes that the period Schedule Variance is negative but the cumulative SV remains positive. What is the most likely correct interpretation?

Accepted Answer

Recent performance has declined but the project still has a schedule cushion from prior work

Answer

The project is in immediate crisis requiring escalation

Answer

The EVM data is likely corrupted

Answer

The project is behind schedule on a cumulative basis

Question 4

A schedule variance is traced to a delayed material delivery. Which corrective action most directly addresses the root cause?

Accepted Answer

Expedite the material delivery or re-sequence work to utilize available resources productively

Answer

Increase the budget for the affected work package

Answer

Crash the schedule by adding labor to all critical path activities

Answer

Submit a contract change request immediately

Question 5

What is the primary purpose of an Estimate to Complete (ETC) in variance analysis?

Accepted Answer

To project the expected cost of completing all remaining authorized work

Answer

To calculate the original budget for remaining work

Answer

To measure earned value for work already performed

Answer

To determine the schedule variance at project completion

Question 6

A project has a Budget at Completion (BAC) of $1,000,000 and a cumulative CPI of 0.90. Using the CPI-based EAC formula, what is the Estimate at Completion?

Accepted Answer

$1,111,111

Answer

$900,000

Answer

$1,100,000

Answer

$1,000,000

Question 7

Which variance analysis output most requires immediate escalation to program management?

Accepted Answer

A negative Variance at Completion indicating the control account will overrun its total budget

Answer

A 3% favorable cost variance in the current period

Answer

A one-day schedule variance on a non-critical-path activity

Answer

A CPI of exactly 1.0