Project Management Project Scheduling and Costing Questions and Answers

Question 1

A project manager is analyzing a project's performance and calculates the Cost Performance Index (CPI) to be 0.85 and the Schedule Performance Index (SPI) to be 1.15.
Which of the following statements BEST describes the project's current status?

Accepted Answer

The project is over budget and ahead of schedule.

Answer

The project is under budget and behind schedule.

Answer

The project is over budget and behind schedule.

Answer

The project is under budget and ahead of schedule.

Question 2

A project is facing significant delays, and the sponsor has demanded that the timeline be shortened. The project manager decides to have some project activities that were originally planned in sequence now work in parallel. This is an example of which schedule compression technique?

Accepted Answer

Fast Tracking

Answer

Crashing

Answer

Resource Leveling

Answer

Critical Chain Method

Question 3

During the Determine Budget process, a project manager aggregates the estimated costs of individual activities or work packages to establish a total cost baseline. Which of the following is NOT typically included in the project budget but is part of the overall project funding requirements?

Accepted Answer

Management Reserves

Answer

Activity Cost Estimates

Answer

Contingency Reserves

Answer

Cost Baseline

Question 4

A project manager is using the Program Evaluation and Review Technique (PERT) to estimate the duration of a critical activity. The three estimates provided by the team are: Optimistic (O) = 8 days, Pessimistic (P) = 20 days, and Most Likely (M) = 11 days. What is the expected duration of this activity?

Accepted Answer

12 days

Answer

13 days

Answer

11.5 days

Answer

12.5 days

Question 5

Which of the following is a key distinction between the Critical Path Method (CPM) and the Program Evaluation and Review Technique (PERT)?

Accepted Answer

CPM uses a deterministic, single-point estimate for activity durations, while PERT uses a probabilistic, three-point estimate.

Answer

CPM is used for scheduling, while PERT is used for cost control.

Answer

CPM focuses on managing project risks, while PERT focuses on resource allocation.

Answer

CPM is an agile methodology, while PERT is a traditional, waterfall approach.

Question 6

A project has a total budget (BAC) of $200,000. At the current point in time, the team has spent $70,000 (AC) and has completed work valued at $60,000 (EV). The planned value (PV) for this point was $80,000. The project manager needs to calculate the Estimate at Completion (EAC) assuming the current cost performance will continue until the end of the project. What is the correct EAC?

Accepted Answer

$233,333

Answer

$210,000

Answer

$225,000

Answer

$200,000

A project manager is analyzing a project's performance and calculates the Cost Performance Index (CPI) to be 0.85 and the Schedule Performance Index (SPI) to be 1.15.Which of the following statements BEST describes the project's current status?

A project manager is analyzing a project's performance and calculates the Cost Performance Index (CPI) to be 0.85 and the Schedule Performance Index (SPI) to be 1.15.
Which of the following statements BEST describes the project's current status?