CPSM CSPM Time, Cost & Resource Management 3

Question 1

A project's Cost Variance (CV) is -$20,000 and its Earned Value (EV) is $80,000. What is the Actual Cost (AC)?

Accepted Answer

$100,000

Answer

$60,000

Answer

$80,000

Answer

$40,000

Question 2

What scheduling technique splits a task and allows another higher-priority task to use the resource temporarily?

Accepted Answer

Preemptive scheduling

Answer

Resource leveling

Answer

Fast tracking

Answer

Lead and lag adjustment

Question 3

Which document formally authorizes a project and provides the project manager with authority to apply organizational resources?

Accepted Answer

Project charter

Answer

Project management plan

Answer

Statement of work

Answer

Resource management plan

Question 4

A schedule compression technique that overlaps phases or tasks that would normally be done sequentially is called:

Accepted Answer

Fast tracking

Answer

Crashing

Answer

Resource smoothing

Answer

Critical chain method

Question 5

In the critical chain method, what is a 'project buffer' used for?

Accepted Answer

Protecting the project end date from accumulated uncertainties

Answer

Adding extra time to each individual task estimate

Answer

Tracking resource availability across the project

Answer

Measuring earned value at project milestones

Question 6

When should a project manager use analogous cost estimating?

Accepted Answer

Early in the project when limited information is available

Answer

When detailed scope information is available and accuracy is critical

Answer

After all WBS work packages have been identified

Answer

When parametric models have been validated against the project

Question 7

A project is 50% complete with a BAC of $200,000, EV of $80,000, and AC of $100,000. What is the CPI?

Accepted Answer

0.80

Answer

0.75

Answer

0.85

Answer

1.25