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CPSM Project Monitoring, Control & Reporting Flashcards

7 cards from real CPSM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. What does the Schedule Performance Index (SPI) measure in Earned Value Management?

    Answer: The ratio of Earned Value to Planned Value

    SPI = EV/PV; a value greater than 1.0 means the project is ahead of schedule, while below 1.0 indicates a schedule delay.

  2. Which EVM metric represents the monetary value of work actually completed at a given point in time?

    Answer: Earned Value (EV)

    Earned Value (EV) is the budgeted cost of the work that has been completed, reflecting the value of accomplished work.

  3. A project has a CPI of 0.85. What does this indicate about project performance?

    Answer: For every dollar spent, only 85 cents of planned value is earned

    CPI = EV/AC; a CPI of 0.85 means only $0.85 of budgeted value is earned for every $1.00 actually spent, signaling a cost overrun.

  4. What is the most common formula for Estimate at Completion (EAC) that assumes future work continues at current cost efficiency?

    Answer: EAC = BAC / CPI

    EAC = BAC/CPI projects the final cost assuming the current cost performance index (CPI) will persist through project completion.

  5. Which baseline integrates scope, schedule, and cost to form the Performance Measurement Baseline (PMB)?

    Answer: Cost Performance Baseline

    The Cost Performance Baseline (PMB) integrates scope, schedule, and cost baselines and is the reference against which earned value performance is measured.

  6. A project reports SPI = 1.2 and CPI = 0.9. What is the most accurate assessment?

    Answer: The project is ahead of schedule but over budget

    SPI > 1 means more work is being earned than planned (ahead of schedule), while CPI < 1 means more is being spent than earned (over budget).

  7. What is the primary purpose of defining variance thresholds in a project monitoring plan?

    Answer: To define acceptable deviation ranges that trigger escalation when exceeded

    Variance thresholds define the acceptable range of deviation from baseline; when exceeded, they trigger corrective actions or escalation to management.