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- Multiple ChoicePlease save your changes before editing any questions.One common way to compute estimate at completion (EAC) is to take the budget at completion (BAC) and:Divide by SPI.Multiply by SPI.Multiply by CPI.Divide by CPI.
- Multiple ChoicePlease save your changes before editing any questions.Estimate at completion (EAC) is a periodic evaluation of:The cost of work completed.The value of work performed.The anticipated total cost at project completion.What it will cost to finish the project.
- Multiple ChoicePlease save your changes before editing any questions.
During the conceptual phase of a pipeline project, the project engineer estimates the following: the cost of the materials is most likely $100,000; optimistically $90,000; and pessimistically $120,000. The cost for labor is most likely $80,000; optimistically $70,000 and pessimistically $100,000. The cost for equipment is most likely $60,000; optimistically $50,000 and pessimistically $70,000. The cost for construction management fees is most likely $30,000; optimistically $20,000 and pessimistically $40,000. What is the probability of the project coming in under $270,000?
Less than 50%
Exactly 50%
Over 50%
Zero
- Multiple ChoicePlease save your changes before editing any questions.A manufacturing project has a schedule performance index (SPI) of 0.89 and a cost performance index (CPI) of 0.91. Generally, what is the BEST explanation for why this occurred?The scope was changedAdditional equipment needed to be purchasedA supplier went out of business and new one needed to be foundA critical path activity took longer and needed more labor hours to complete
- Multiple ChoicePlease save your changes before editing any questions.A project manager is working with management to create the project estimate. During the initiating process group, what level of accuracy should the estimate have?-10% to +10%-25% to +75%-35% to +75%-10% to +25%
- Multiple ChoicePlease save your changes before editing any questions.You are a project manager for a small construction project. Your project was budgeted for $72,000 over a six-week period. As of today, you’ve spent $22,000 of your budget to complete work that you originally expected would cost $24,000. According to your schedule, you should have spent $30,000 by this point. Based on these circumstances, your project could be BEST describe as:Under budgetOver budgetOn BudgetNot having enough information provided
- Multiple ChoicePlease save your changes before editing any questions.You are about to take over a project from another project manager and find out the following information about the project: activity Z has an early start of day 15 and late start of day 20. Activity Z is difficult activity. Cost performance index is 1.1; schedule performance index is 0.8. There are 11 stakeholders on the project. Based on the information, which of the following would you be the MOST concerned about?ScheduleFloatCostThe number of available resources
- Multiple ChoicePlease save your changes before editing any questions.You are a project manager working on a project that requires 100 items to be tested, spaced evenly over five weeks. You have just begun week three, with an overall budget of $10,000. To date, you have spent $2,000 with 40 items tested successfully. What does the cost variance (CV) tell you in this circumstance?The project is proceeding at 100 % of the expected rateThe project is $2,000 under budgetThe project is on budgetThe project is getting $2 of work for every dollar spent
- Multiple ChoicePlease save your changes before editing any questions.A schedule performance index of 0,76 means:You are ahead of scheduleYou are over budgetYou are progressing at 76% of the rate originally plannedYou are progressing at 24% of the rate originally planned
- Multiple ChoicePlease save your changes before editing any questions.A parking lot fencing project was bid at $11 per foot and one company is doing all the work. The parking lot has four equal sides of 125 feet and requires the installation of a six-foot diameter culvert on one side. Fencing should be installed at a rate of 100 feet per day. The culvert installation will cost $500 and take one day to complete. The culvert must be installed before work can begin on that side of the fence. After three days of work, one side is complete, another has 75 feet installed and the culvert is completely installed. So far $2,700 of the total project budget has been used. What is the current status of the project?The budget is neutral with a cost variance of $0It is over budget with a cost variance of -$1,100It is under budget with a cost variance of +$500 due to the completion of the culvert installationIt is over budget with cost variance of +$125
- Multiple ChoicePlease save your changes before editing any questions.A project team budgeted $3,000 for the work performed and has spent $4,000 to date. If they budgeted $5,000 for the work scheduled, what is the cost variance?$2,000($2,000)($1,000)$1,000
- Multiple ChoicePlease save your changes before editing any questions.You are tracking your project using earned value management and find you are behind schedule but under budget. Your variances show schedule variance = -$50 M, cost variance = $100M and your actual cost are $500 M. What are the CPI, PV and SPI?0.92; $550 M; 1.201.20; $650 M; 0.921.20; -$100 M; 0.920.92; $650; 1.08
- Multiple ChoicePlease save your changes before editing any questions.You take over a project that is $100,000 over budget. You know the team has completed $500,000 worth of work. Your sponsor has been calling all day leaving messages while you were in meetings asking for a quick update on the project status. What will you tell him when you return his call?The CPI is 0.83The CPI is 0.90The SPI is 0.83The SPI is 1.10
- Multiple ChoicePlease save your changes before editing any questions.During project executing, the forecasted remaining hours exceed planned remaining hours. Consequently, the project takes on a negative variance. Which calculation is the project manager likely to use as a measurement tool to validate this information?EV – ACEV – PVEV / ACEV / PV
- Multiple ChoicePlease save your changes before editing any questions.After analyzing the status of your project, you determine the earned value is lower than the planned value. What should you expect as an outcome if this trend continues?The actual cost will be lower than plannedThe estimate at completion will be lower than plannedThe project will finish below the original cost estimateThe project will finish behind schedule
- Multiple ChoicePlease save your changes before editing any questions.The network expansion project you just took over is said to be doing pretty well. The previous project manager only used variances to report the current project status. In the last report, you find SV = $50,000; CV = $10,000; PV = $500,000. You know the rate of spending and schedule progress are important as well. Based on the details you have been given, what are the SPI and CPI?0.91; 0.981.11; 0.981.10; 1.020.90; 1.02
- Multiple ChoicePlease save your changes before editing any questions.Your boss is worried about the project schedule. There is critical deliverables due to the federal government in two weeks. If you miss the deliverable, you could lose the entire contract. To help reduce the boss’s stress, you show him the earned value calculations you just completed. They show your cost performance index is 1.25; your actual cost is $400 M and your planned value is $490 M. should your boss be comfortable?He need more dataYes, your SPI is 1.05Yes, your SV is $10 MNo, your CPI is too high
- Multiple ChoicePlease save your changes before editing any questions.You are working for an international construction company. Your project involves pulling together over 13 different subprojects. You are having difficulty in ensuring three subcontractors are doing their work correctly. As you review the project results, you notice you have spent $1,200,000 at the last reporting point. You know the schedule is not too bad. Since your schedule performance index is 1.1; considering you feel you should have spent $1,300,000 to this point, what are the cost performance index and the schedule and cost variances?1.19, #130,000 and $230,0001.19, $230,000 and ($230,000)1.43, $130,000 and ($130,000)1.1, ($230,000) and $130,000
- Multiple ChoicePlease save your changes before editing any questions.Estimate at completion (EAC) is a periodic evaluation of:The value of work performedThe anticipated total cost at project completionThe cost of work completedWhat it will cost to finish the project
- Multiple ChoicePlease save your changes before editing any questions.A cost performance index of 0.89 means:The project is progressing at 89% of the rate plannedAt this time, we expect the total project to cost 89% more than plannedWhen the project is completed, we will have spent 89% more than plannedThe project is getting 89% out of every dollar invested
- Multiple ChoicePlease save your changes before editing any questions.The customer responsible for overseeing your project asks you to provide a written cost estimate that is 30 percent higher than your estimate of the project's cost. He explains that the budgeting process requires managers to estimate pessimistically to ensure enough money is allocated for projects. What is the BEST way to handle this?Add the 30 percent as a lump sum contingency fund to handle project risks.Add the 30 percent to your cost estimate by spreading it evenly across all project activities.Create one cost baseline for budget allocation and a second one for the actual project management plan.Ask for information on risks that would cause your estimate to be too low
- Multiple ChoicePlease save your changes before editing any questions.All of the following are outputs of the Estimate Costs process EXCEPT:An understanding of the cost risk in the work that has been estimated.The prevention of inappropriate changes from being included in the cost baseline.An indication of the range of possible costs for the project.Documentation of any assumptions made during the Estimate Costs process
- Multiple ChoicePlease save your changes before editing any questions.Cost performance measurement is BEST done through which of the following?Asking for a percent complete from each team member and reporting that in the monthly progress reportCalculating earned value and using the indexes and other calculations to report past performance and forecast future performanceUsing the 50/50 rule and making sure the life cycle cost is less than the project costFocusing on the amount expended last month and what will be expended the following month
- Multiple ChoicePlease save your changes before editing any questions.Your project has a medium amount of risk and is not very well defined. The sponsor hands you a project charter and asks you to confirm that the project can be completed within the project cost budget. What is the BEST method to handle this?Build an estimate in the form of a range of possible results.Ask the team members to help estimate the cost based on the project charter.Based on the information you have, calculate a parametric estimate.Provide an analogous estimate based on past history.
- Multiple ChoicePlease save your changes before editing any questions.You are having difficulty estimating the cost of a project. Which of the following BEST describes the most probable cause of your difficulty?Inadequate scope definitionUnavailability of desired resourcesLack of historical records from previous projectsLack of company processes
- Multiple ChoicePlease save your changes before editing any questions.A project has seven activities: A, B, C, D, E, F, and G. Activities A, B and D can start anytime. Activity A takes 3 weeks, Activity B takes 5 weeks and activity D takes 3 weeks follow by activity C. Activities A and B must be completed before activity E can start. Activity E requires 2 weeks. Activity F takes 4 weeks and can start as soon as activity C is completed which takes 2 weeks. Activity E must be completed before Activity G starts. Activity G requires 3 weeks. Activities F and G must be completed for the project to be completed. Which activities have float available?Activity F has one week floatThere is not float available in the projectActivity A has eight weeks floatActivity A has two weeks float, activity F has one week.
- Multiple ChoicePlease save your changes before editing any questions.
An activity has an early start (ES) of day3; a late start (LS) of day 13, an early finish (EF) of day 9 and a late finish (LF) of day 19. What is the duration of this activity?
3
10
7
6
- Multiple ChoicePlease save your changes before editing any questions.Three calls were received today inquiring whether one of your resources could be released from your project. There were nine such calls last week. The project is going well and its risk rating is low. Activity R has an early start of 4 and a late start of 45 and an early finish of 14. The project has a cost performance index (CPI) of 1.05 and a schedule performance index (SPI) of 0.893. The project float is zero and even through tough times, you believe the reward system you put in place during project planning is working. What is BEST thing to do?Crash the ProjectCrash activity RDeal with Diminishing Impact of the Phone CallLook for the area for cut cost
- Multiple ChoicePlease save your changes before editing any questions.A project has seven activities: A, B, C, D, E, F and G. Activities A, B and D can start anytime. Activity A takes 3 weeks, activity B takes 5 weeks and activity D takes 11 weeks. Activities A and B must be completed before activity C can start. Activity C requires 6 weeks to complete. Activities B, C, and D must be completed before activity E can start. Activity E requires 2 weeks. Activity F takes 4 weeks and can start as soon as activity C is completed. Activity E must be completed before activity G starts. Activity G requires 3 weeks. Activities F and G must be completed for the project to be completed. What is the critical path?Start – D – E – F – EndStart – A – C – F – EndBoth Start – B – C – E – G – End and Start – D – E – G – EndStart – B – C – E – G – End
- Multiple ChoicePlease save your changes before editing any questions.You have a project with the following activities: Activity A takes 40 hours and can start after the project starts. Activity B takes 25 hours and should happen after the project starts. Activity C must happen after activity A and takes 35 hours. Activity D must happen after activities B and C and takes 30 hours. Activity E must take place after activity C and takes 10 hours. Activity F takes place after Activity E and takes 22 hours. Activities F and D are the last activities of the project. Which of the following is TRUE if activity B actually takes 37 hours?The critical path is 67 hours.The critical path changes to Start, B, D, End.The critical path is Start, A, C, E, F, End.The critical path increases by 12 hours.
- Multiple ChoicePlease save your changes before editing any questions.An activity has an early start (ES) of day 3, a late start (LS) of day 13, an early finish (EF) of day 9, and a late finish (LF) of day 19. The activity:Is on the critical path.Has a lag.Is progressing well.Is not on the critical path.
- Multiple ChoicePlease save your changes before editing any questions.Originally a project has seven activities: A, B, C, D, E, F, and G. Activities A, B and D can start any time. Activity A takes 3 weeks, activity B takes 5 weeks and activity D takes 11 weeks. Activities A and B must be completed before activity C can start. Activity C takes 6 weeks to complete. Activities B, C, and D must be completed before activity E can start and activity E takes 2 weeks. Activity F can start as soon as activity C completes and has duration of 4 weeks. Activity G takes 3 weeks and cannot start until activity E is completed. Activities F and G must be completed for the project to be completed. However, during project executing, a dependency was discovered between activities E and F. what is the BEST thing to do?Redo schedule developmentCall a team meeting and determine id crashing or fast tracking are possible solution to meeting the original scheduleTell management that the project will take longer than 18 weeksCall a meeting of stakeholders and communicate schedule risks
- Multiple ChoicePlease save your changes before editing any questions.You have a project with four activities as follows. Activity 1 can start immediately and has an estimated duration of 1. Activity 2 can start after activity 1 is completed and has an estimated duration of 4. Activity 3 can start after activity 2 is completed and has an estimated duration of 5. Activity 4 has an estimated duration of 8. It can start after activity 1 is completed. Both activity 3 and 4 must be completed before the project is complete. What is the critical path of the project?Start, 1, 2, 3, 4, EndStart, 1, 2, 3, EndStart, 1, 4, 3, EndStart, 1, 4, End
- Multiple ChoicePlease save your changes before editing any questions.
Based on the following, if you needed to shorten the duration of the project, which activity would you try to shorten?
Activity B
Activity D
Activity H
Activity C
- Multiple ChoicePlease save your changes before editing any questions.
Based on the chart below, some of the identified risks do not occur and therefore activity B gets done in 3. What is the effect on the project?
The Project is Complete
There will be Three Critical Path
Activity A will have more Float
The project will complete sooner if activity F start immediately