Project Scheduling and Costing Flashcards
7 cards from real Project Management practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Project Scheduling and Costing flashcards as text
A project manager calculates the Schedule Performance Index (SPI) as 0.85. What does this indicate?
Answer: The project is behind schedule
An SPI less than 1.0 means the project is behind schedule, as less work was accomplished than planned.
Which scheduling technique accounts for uncertainty by using optimistic, pessimistic, and most likely duration estimates?
Answer: Program Evaluation and Review Technique (PERT)
PERT uses three-point estimates (optimistic, pessimistic, most likely) to calculate expected durations and account for uncertainty.
What is the purpose of a baseline in project cost management?
Answer: To define the approved version of the project budget used for comparison
The cost baseline is the approved time-phased budget against which actual project costs are compared and monitored.
Fast-tracking a project schedule means:
Answer: Performing critical path activities in parallel that were originally planned sequentially
Fast-tracking overlaps activities that would normally be done sequentially, which compresses the schedule but may increase risk.
A project has a Budget at Completion (BAC) of $200,000, Earned Value (EV) of $80,000, and Actual Cost (AC) of $100,000. What is the Cost Variance (CV)?
Answer: -$20,000
CV = EV – AC = $80,000 – $100,000 = –$20,000, indicating the project is over budget.
Which type of dependency exists when one activity cannot start until another activity has started?
Answer: Start-to-Start (SS)
A Start-to-Start dependency means the successor activity cannot begin until the predecessor activity has begun.
What does the term 'float' (or slack) represent in project scheduling?
Answer: The amount of time an activity can be delayed without delaying the project finish
Float is the amount of time a schedule activity can be delayed without impacting the project's critical path or end date.