Christopher Johnson

Question 1

Maslow’s Hierarchy of Needs

Answer 1

Self Actualization
Esteem
Belonging
Safety
Physiological

Question 2

Types of Power for the Project Manager (HR)

Answer 2

Formal (Given by Charter)
Expert (Earned on your Own)
Reward (Best)
Penalty (worst)
Referent (Presence Based)

Question 3

Conflict Resolution Types (HR)

Answer 3

Collaboration / Problem Solving
Compromising / Reconciling
Focusing / Directing (Worst)
Smoothing / Accommodating
Withdrawing / Avoiding

Question 4

Process Groups Main Outputs

Answer 4

Initiating = Charter
Planning = Project Management Plan
Executing = Work Results
Monitoring & Controlling = Corrective Actions
Closing = Product, Service, or Result Transition

Question 5

Rough Order of Magnitude (ROM)

Answer 5

-25% to +75%

Question 6

Definitive (or Control)

Answer 6

-5% to +10%

Question 7

Sigma Percentages

Answer 7

\+/-1 = 68.26%
\+/-2 = 95.46%
\+/-3 = 99.73%
\+/-6 = 99.9997%

Question 8

Standard Deviation Formula

Answer 8

σ = (Pessimistic - Optimistic) / 6

Question 9

PERT Formula

Answer 9

Beta = (Pessimistic + (4 * Most Likely) + Optimistic) / 6

Question 10

Communication Channels Formula

Answer 10

n * (n-1) / 2

Question 11

Earned Value Formula

Answer 11

EV = % complete * BAC

What you get:
A monetary value.

Question 12

Schedule Variance (SV)

Answer 12

SV = EV - PV

What you get:
Time units. The interpretation of SV calculated by this formula is the same as the traditional SV formula, i.e., positive SV = project ahead of schedule; negative SV = project behind schedule.

Question 13

Cost Variance (CV) Formula

Answer 13

CV = EV – AC

What you get:
A monetary amount. A negative number means you are over budget (that’s bad). A positive number means you are under budget (hurrah!). It’s most useful to report CV alongside the project budget so that you can easily see the magnitude of any variance. As mentioned earlier, contemporary project management sees all project variances, positive or negative, as potentially harmful to the project and the performing organization. Similarly to schedule variance, the cost variance outside the defined threshold limit (e.g., +/-15%) should be investigated, and a root cause identified. For example, positive cost variance could be a result of conservative estimation during project planning. If a project was conservatively estimated, extra funds allocated to it could have been spent elsewhere by the organization.

Question 14

Cost Performance Index (CPI)

Answer 14

CPI = EV / AC

What you get:
A number. You’re aiming for 1. That means that you are getting $1 of value for every $1 spent. You are using your project budget as planned. If it’s more than 1, you are getting more than $1 for every $1 spent. This could mean that your initial budget was not put together in a robust way and your estimates were too conservative.

Question 15

Estimate at Completion (EAC)

Answer 15

EAC = BAC / CPI

What you get:
A monetary value.

Question 16

Schedule Performance Index (SPI)

Answer 16

SPI = EV / PV

What you get:
A number. Again, as this one is a ratio too you are aiming for 1 as that means you are working through the project at the rate you had expected. If the number is greater than one, it means you are racing through your tasks faster than you had planned (but it doesn’t comment on the quality of the work done – just something to think about!). If the number is less than 1 it means you are progressing more slowly than planned and the tasks are taking longer.

Question 17

Variance at Completion (VAC) Formula

Answer 17

VAC = BAC - EAC

What you get:
A monetary value. This shows you how much over or under budget (the variance) we will be at the end of the project. A value of $0 means you’ll hit budget. Less than zero means you’ll be over budget so ideally you’re looking for a number near $0.

Question 18

Estimate to Complete Formula (ETC)

Answer 18

What you get:

A monetary value that tells you how much more the project will cost.

Question 19

To Complete Performance Index (TCPI)

Answer 19

TCPI = (BAC - EV) / (EAC - AC)

Question 20

3 Point Estimate

Answer 20

(Pessimistic + Optimistic + R ) / 3