FREE Fundamentals of Earned Value Management Trivia Questions and Answers

Question 1

What is a basic issue with project baselines?

Accepted Answer

The authorized budget is too low

Answer

Not enough tasks

Answer

The authorized work does not exist

Answer

The authorized budget is too high

Question 2

It's possible to frontload a budget.

Accepted Answer

Yes

Answer

No

Question 3

How is SPI calculated?

Accepted Answer

EV/PV

Answer

EV/PN

Answer

EV/AC

Answer

PV/EV

Question 4

A project manager created a predicted EAC after determining that BAC is no longer practical. What metric may the project manager use to evaluate the projected costs and cost performance requirements for the remaining work?

Accepted Answer

To Complete Performance Index (TCPI)

Answer

Cost Variance (CV)

Answer

Cost Performance Index (CPI)

Answer

Variance at Completion (VAC)

Question 5

CPI less than 1 indicates that

Accepted Answer

Project is over budget

Answer

Actual Cost (AC) is less than Planned Value (PV)

Answer

Project is under budget

Answer

Project performance is as per baseline plan

Question 6

Cost overruns are happening on a project. What is accurate regarding the Cost Performance Index? (CPI)

Accepted Answer

CPI is less than 1

Answer

CPI is equal to 1

Answer

CPI is greater than 1

Answer

CV is equal to 1

Question 7

SPI lower than one indicates that

Accepted Answer

Project is behind schedule

Answer

Planned Value (PV) is less than Earned Value (EV)

Answer

Project is ahead of schedule

Answer

Project performance is as per the baseline plan