Project Planning and Monitoring Schedule Management & Time Planning 2

Question 1

What does a Schedule Performance Index (SPI) of 0.85 indicate?

Accepted Answer

The project is behind schedule — only 85% of planned work has been earned

Answer

The project is 15% under budget

Answer

The project is 15% ahead of schedule

Answer

The project has consumed 85% of its total float

Question 2

How is Schedule Variance (SV) calculated, and what does a negative result mean?

Accepted Answer

SV = Earned Value − Planned Value; negative means behind schedule

Answer

SV = Actual Cost − Budget at Completion; negative means over budget

Answer

SV = Planned Value − Actual Cost; negative means under budget

Answer

SV = Budget at Completion − Estimate at Completion; negative means cost overrun

Question 3

What is 'fast tracking' as a schedule compression technique?

Accepted Answer

Performing activities in parallel that were originally planned sequentially

Answer

Reducing project scope to meet an earlier deadline

Answer

Adding more resources to critical path activities to shorten their duration

Answer

Eliminating non-critical activities from the schedule entirely

Question 4

What does 'crashing' a schedule involve?

Accepted Answer

Adding resources to critical path activities to shorten their duration, typically at increased cost

Answer

The unplanned failure of the schedule due to missed milestones

Answer

Removing lower-priority activities from the schedule to save time

Answer

Accepting schedule overruns and reporting them to the sponsor

Question 5

What defines a project milestone in schedule management?

Accepted Answer

A significant point or event in the project that has zero duration

Answer

A task requiring significant resource allocation and extended effort

Answer

A group of related activities that together form a project phase

Answer

The midpoint of the overall project timeline

Question 6

What is rolling wave planning?

Accepted Answer

A planning approach where near-term work is planned in detail and future work at a higher level, with detail added progressively

Answer

A technique that plans all project activities in full detail at project initiation

Answer

A method of updating the schedule baseline after each project phase is closed

Answer

The process of revising the entire schedule baseline on a quarterly basis

Question 7

Which corrective action is most appropriate when a project's SPI is 0.78 at the midpoint?

Accepted Answer

Analyze the critical path and apply schedule compression techniques such as fast tracking or crashing

Answer

Immediately reduce project scope without consulting stakeholders

Answer

Request an immediate budget increase to cover additional resources

Answer

Close the current project and re-baseline with an extended end date