Project Management Project Scheduling and Costing 4

Question 1

A project's To-Complete Performance Index (TCPI) is 1.15. What does this mean?

Accepted Answer

The project must perform at $1.15 worth of work for every $1 remaining in the budget

Answer

TCPI > 1.0 indicates the project must improve efficiency to complete within budget, spending remaining budget more productively than planned.

Question 2

What is a milestone in project scheduling?

Accepted Answer

A significant point or event in the project with zero duration

Answer

A milestone marks a significant project event or decision point and has no duration — it is a moment in time, not a task.

Question 3

Resource leveling is used to:

Accepted Answer

Adjust the schedule to resolve resource over-allocation, often extending the project duration

Answer

Resource leveling adjusts activity dates to address resource constraints or over-allocation, often resulting in a longer schedule.

Question 4

Which document formally authorizes expenditure of project funds and serves as the approved budget for cost control?

Accepted Answer

Cost performance baseline

Answer

The cost performance baseline is the approved, time-phased budget used to measure and monitor project cost performance.

Question 5

In schedule network analysis, what is the 'near-critical path'?

Accepted Answer

The second-longest path through the network with very little float

Answer

The near-critical path has very little total float and can become critical if any of its activities are delayed, making it important to monitor.

Project Management Practice Test