CCM Cost and Time Management 2

Question 1

A construction project has a BAC of $500,000, EV of $200,000, and AC of $250,000. What is the Cost Performance Index (CPI)?

Accepted Answer

0.80

Answer

1.25

Answer

0.40

Answer

1.00

Question 2

Which scheduling technique uses probability distributions to model activity duration uncertainty?

Accepted Answer

PERT

Answer

CPM

Answer

Gantt Chart

Answer

Precedence Diagramming

Question 3

The Estimate at Completion (EAC) formula assuming future work will proceed at the budgeted rate is:

Accepted Answer

AC + (BAC - EV)

Answer

BAC / CPI

Answer

AC + ETC

Answer

EV / BAC

Question 4

A contractor uses fast-tracking on a project. What is the primary risk associated with this technique?

Accepted Answer

Increased rework due to overlapping activities

Answer

Increased project cost

Answer

Reduced resource utilization

Answer

Longer project duration

Question 5

Which cost estimating technique uses a statistical relationship between historical data and project variables?

Accepted Answer

Parametric estimating

Answer

Analogous estimating

Answer

Bottom-up estimating

Answer

Three-point estimating

Question 6

A project's Schedule Variance (SV) is -$30,000. What does this indicate?

Accepted Answer

The project is $30,000 behind schedule in value terms

Answer

The project is $30,000 under budget

Answer

The project is $30,000 ahead of schedule in value terms

Answer

The project has $30,000 in contingency remaining

Question 7

What is the purpose of a Schedule Performance Baseline in construction project management?

Accepted Answer

To provide an approved time-phased plan for measuring schedule performance

Answer

To set the minimum acceptable schedule duration

Answer

To establish the maximum allowable float for all activities

Answer

To define the resource leveling constraints