Acronyms

Question 1

CV

Answer 1

Cost variance

Question 2

EV

Answer 2

Earned value

Question 3

CPI

Answer 3

Cost performance index
CPI values > 1.0 indicate a project is under planned cost
CPI values = 1.0 indicate a project is on planned cost
CPI values < 1.0 indicate a project is over planned cost

Question 4

BAC

Answer 4

Budget at completion

Question 5

AC

Answer 5

Actual cost

Question 6

SV

Answer 6

Schedule value

Question 7

PV

Answer 7

Planned value

Question 8

TCPI

Answer 8

To complete performance index
When TCPI is greater than 1.0, the project will be harder to complete than planned.

When TCPI is exactly 1.0, the project will be the same to complete as planned.

When TCPI is less than 1.0, the project will be easier to complete than planned.

Question 9

SPI

Answer 9

Schedule performance index

Question 10

MVP

Answer 10

Minimum viable products

Question 11

MBI

Answer 11

Minimum business increments

Question 12

A hierarchy decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables

Answer 12

Work breakdown structure

Question 13

What is the 100 percent rule

Answer 13

The 100% rule means that if it is not represented in the WBS than it is not on the scope it is now focus

Question 14

What is the lowest level of the WBS

Answer 14

Work packages

Question 15

Management control point for scope schedule and cost typically at the end of the roll up level of the WBS

Answer 15

Control accounts

Question 16

Numbering system used to identify the components of the WBS

Answer 16

Code of accounts

Question 17

A component of the WBS with known content but incomplete schedule information

Answer 17

Planning packages

Question 18

What type of organizational structure has a part time pm

Answer 18

Functional organization