PMI-SP Earned Value 3

Question 1

A project has CPI = 0.90 and SPI = 1.10. Which statement best describes the project's status?

Accepted Answer

Over budget but ahead of schedule

Answer

CPI < 1.0 means over budget (spending more than earned), while SPI > 1.0 means ahead of schedule (earning more than planned).

Question 2

A PMI-SP practitioner uses a composite EAC formula that weights both CPI and SPI. Which formula reflects this approach?

Accepted Answer

EAC = AC + [(BAC - EV) / (CPI × SPI)]

Answer

The composite EAC = AC + [(BAC - EV) / (CPI × SPI)] accounts for both cost and schedule performance inefficiencies in forecasting.

Question 3

During a project status review, EV equals PV. What does this tell the project manager?

Accepted Answer

The project is on schedule

Answer

When EV = PV, SV = 0 and SPI = 1.0, meaning the project is progressing exactly as scheduled.

Question 4

What is the primary purpose of Earned Value Management (EVM) in project scheduling?

Accepted Answer

To integrate scope, schedule, and cost performance into a single framework

Answer

EVM integrates scope, time, and cost baselines to provide an objective measure of project performance and progress.

Question 5

A project team reports that $75,000 of planned work has been completed, but $90,000 was spent. The planned budget for this period was $80,000. What is the cost variance?

Accepted Answer

-$15,000

Answer

CV = EV - AC = $75,000 - $90,000 = -$15,000, indicating the project is $15,000 over budget for the work accomplished.

(PMI-SP) PMI Scheduling Professional Practice Test

(PMI-SP) PMI Scheduling Professional Practice Test

PMI-SP Earned Value 3