Time & Cost Management Flashcards

A project has total float of zero on several activities. What does this indicate about those activities?

Answer: They are on the critical path and have no scheduling flexibility

Activities with zero total float are on the critical path; any delay in these activities will delay the project end date.

Which planning tool shows the relationships between activities, including their durations and dependencies, in a network diagram format?

Answer: Precedence Diagram Method (PDM)

PDM (also called Activity-on-Node) shows activities as nodes connected by arrows representing dependencies.

Contingency reserves in project cost management are intended to address:

Answer: Known risks identified and accepted in the risk register

Contingency reserves handle known risks (known unknowns) that have been identified and quantified in the risk register.

A project's Variance at Completion (VAC) is -$20,000. What does this mean?

Answer: The project is expected to exceed its budget by $20,000

VAC = BAC - EAC; a negative VAC indicates the project is forecasted to finish over budget.

Which process within the Project Time Management knowledge area involves determining the logical order of activities?

Answer: Sequence Activities

Sequence Activities identifies and documents the logical relationships among project activities to create the network diagram.

When a project manager applies management reserves, these funds are intended for:

Answer: Unexpected changes to project scope or unknown risks

Management reserves handle unknown-unknown risks and are not part of the cost performance baseline but are in the overall project budget.

A project manager notices that the SPI is 1.1 and the CPI is 0.9. Which statement best describes the project status?

Answer: Ahead of schedule but over budget

SPI > 1.0 means ahead of schedule; CPI < 1.0 means over budget — the team is progressing fast but spending too much.