Numbers

Question 1

What is the formula for cost performance index

(CPI)?

Answer 1

EV / AC

Question 2

What estimating method would use optimistic time estimates?

Answer 2

Three point estimates

Question 3

“The estimated value of work that will be done” has what earned value name?

Answer 3

Planned Value

PV

Question 4

What is the critical path?

Answer 4

The longest duration in the network; the shortest time to complete the project

Question 5

The types and quantities of resources required are calculated in what part of time management?

Answer 5

Estimate Activity Resources

Question 6

What does the estimate at completion tell you?

Answer 6

How far you are ahead or behind of schedule

Question 7

What schedule network analysis technique involves crashing?

Answer 7

Schedule compression

Question 8

What does a start-to-finish relationship mean?

Answer 8

One activity must start before successor can finish (rare)

Question 9

What does the estimate at completion tell you?

Answer 9

What we now expect the project to cost

Question 10

Why would you want to crash a project?

Answer 10

To shorten the project duration

Question 11

A software technique that uses the network diagram and estimates to simulate project outcome is known as?

Answer 11

Monte Carlo analysis

Question 12

What are sunk costs?

Answer 12

Expended costs

Question 13

What does a milestone chart show?

Answer 13

Dates of significant events on the project

Question 14

What is the duration of a milestone?

Answer 14

Zero

Question 15

What is analogous estimating?

Answer 15

Top-down estimating

Question 16

What are fixed costs?

Answer 16

Costs that do not change with project activity

Question 17

What are direct costs?

Answer 17

Costs incurred directly by the project

Question 18

What is the earned value for “how much have you have spent to date”?

Answer 18

Actual Cost (AC)

Question 19

What is value analysis?

Answer 19

Finding a less costly way to complete the work without affecting quality

Question 20

What is management reserve?

Answer 20

An amount of time or money set aside to cover unforeseen risks

Question 21

What is the cost variance formula?

Answer 21

EV - AC

Question 22

Cost risk is greater for the buyer in what type of contract?

Answer 22

Cost-reimbursable

Question 23

Which schedule network analysis technique uses buffers?

Answer 23

Critical chain method (CCM)

Question 24

What does present value mean?

Answer 24

The value today of future cash flows

Question 25

What is the formula for calculating float?

Answer 25

LS - ES or LF - EF; This is the amount of time an activity can be delayed without delaying the project

Question 26

Why would a project manager want to use resource leveling?

Answer 26

To smooth out the valleys of monthly resource usage consumed by the project

Question 27

What does a benefit cost ratio of 2.5 mean?

Answer 27

The benefits are 2.5 times the cost

Question 28

A critical path activity will generally have how much float?

Answer 28

Zero

Question 29

What is parametric estimating?

Answer 29

Looking at the relationships between variables on an activity to create estimates (e.g., dollars per square foot)

Question 30

What is the range of accuracy with a rough order or magnitude estimate?

Answer 30

-25 to + 75 percent