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Billy is the project manager of the PQW Project and she has an assigned project budget of $655,000. Currently she is 80 percent complete with the project though she was scheduled to be 100 percent done by this date. She has spent $490,000 to date and other than the project schedule, which was delayed because of a vendor, the project is going well. What should Billy report as her schedule performance index for this project?
Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI = Earned Value (EV) / Planned Value (PV)
If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value
is less than 1, it shows poor
performance. The SPI value of 1 indicates that the project is right on target. You can find the planned
value by multiplying where Billy should
be in the project, 100 percent, by the project's budget. In this instance the planned value is $655,000
because she is to be 100 percent
complete.
Answer option B is incorrect. The SPI simply reports a value not an explanation.
Answer option A is incorrect. 1.23 is the cost performance index for the project.
Answer option D is incorrect. $524,000 is the earned value for the project.
You are the project manager of the NHQ Project. Management has set a conformance to the project schedule for your project at 0.95. What does this term mean?
Conformance to schedule is a required adherence for the project's schedule. In this instance, the project manager must not allow the schedule to slip more than five percent. Answer option B is incorrect. This is the description of the schedule performance index. Answer option D is incorrect. This is the description of the cost performance index. Answer option C is incorrect. This is not a valid statement about the project performance.
You work as a project manager for BlueWell Inc. Which of the following plans will you use to define how resources are brought onto the project team, how they are managed while on the project team, and how they may be released from the project team?
The project staffing management plan will define how resources are brought onto the project team,
how they are managed while on the project team, and how they may be released from the project
team.
The staffing management plan is part of human resources plan. It is a subsidiary plan of the overall
project management plan and defines
when project team members will be brought onto and released from the project. It describes when
and how human resource requirements
will be met. Depending upon the needs of the project, it can be formal or informal, highly detailed or
broadly framed. The staffing management
plan may include the following items: Staff acquisition, resource calendars, staff release plan,
training needs, recognition and rewards,
compliance, and safety.
Answer option D is incorrect. The communications management plan defines project communication
requirements and expectations.
Answer option C is incorrect. This is not a valid project management plan.
Answer option A is incorrect. The project schedule management will define when resources are
needed and scheduled. But it will not define how resources are allowed to be released from the
project.
You are the project manager of the NHQ project. Your project has a budget of $1,258,456, and is
scheduled to last for three years. Your project is currently forty percent complete though it should
be forty-five percent complete. In order to reach this point of the project, you have spent $525,000.
Management needs a performance report regarding the NHQ project. Management is concerned
that this project will be over budget upon completion. Management would like to create a report
telling them how much more the project will need to complete. What value should you tell
management?
The project will need $787,504 more to complete. This formula, the estimate to
complete, is estimate at completion minus the actual costs.
Here,
CPI = EV/AC =(0.40*1,258,456)/525000= 0.95882, and
ETC = EAC - AC
= (BAC/CPI) - AC
=(1,258,456/0.95882) - 525000
= 1,312,504- 525000
= 787,504
The estimate to complete (ETC) is the expected cost needed to complete all the remaining work for a
scheduled activity, a group of activities,
or the project. ETC helps project managers predict what the final cost of the project will be upon
completion. The formula for the ETC is EAC-
AC. The EAC is BAC/CPI.
Answer option C is incorrect. This is the estimate at completion.
Answer option A is incorrect. This is the planned value.
Answer option D is incorrect. This is not a valid value based on the current project performance.
Ben is the project manager for his organization. His project has 26 stakeholders this week and will have five additional stakeholders next week. How many more communication channels will Ben's project have next week?
Ben's project will have 140 more communication channels because of the five additional stakeholders. To solve the question, you will need to find the current stakeholder communication channels first, which is (26*25)/2= 325, and then find the difference of the number of channels for the five additional stakeholders. You can use the formula of N(N-1), where N is the number of stakeholders. In this example, the formula would read: Total number of communication channels that Ben will have next = ((31*30)/2)-((26*25)/2 =140 Answer option D is incorrect. Five is the number of additional stakeholders. Answer option B is incorrect. 10 is the number of communication channels among just five stakeholders. Answer option C is incorrect. 325 is the number of current communication channels.
