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

CV = EV – AC, so AC = EV – CV = $80,000 – (–$20,000) = $100,000.

Question 2

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

Accepted Answer

Preemptive scheduling

Answer

Preemptive scheduling interrupts a lower-priority task so a higher-priority task can use the shared resource.

Question 3

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

Accepted Answer

Project charter

Answer

The project charter formally authorizes the project and grants the project manager authority to allocate resources.

Question 4

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

Accepted Answer

Fast tracking

Answer

Fast tracking overlaps sequential activities to shorten the project schedule, often increasing risk.

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

A project buffer in the critical chain method absorbs uncertainty from all tasks on the critical chain to protect the final project due date.

(CPSM) Certified Software Project Manager Practice Test