PMP

Question 1

How to set up a project for EVM measurement? (prepare the baseline)

Answer 1

1. Create WBS
2. Develop a schedule
3. Estimate cost for scheduled work
4. Calculated the cumulative cost by time period

Question 2

BAC

Answer 2

Budget at Completion. Cumulative total for all the work

Question 3

PMB

Answer 3

Performance Measurement Baseline.

Question 4

PV

Answer 4

Plan Value. Budget for the scheduled work.

Question 5

Level of effort

Answer 5

No deliverable associated with the work. The work to support project to get done.

Question 6

Schedule Variance

Answer 6

Scheduled variance = PV -EV. Desired to be negative.

Question 7

SPI

Answer 7

Schedule Performance Index. SPI=EV/PV. Desired to be >1

Question 8

EV

Answer 8

BAC X Percent complete

Question 9

CV

Answer 9

Cost Variance = EV-AC. Desired to be positive.

Question 10

EV

Answer 10

Earned Value

Question 11

CPI

Answer 11

Cost Performance index. CPI=EV/AC. Desired to have >1

Question 12

ETC

Answer 12

Estimate to Complete.
1. ETC math = BAC - EV assuming the cost variance is one time event
2. (BAC-EV)/CPI

Question 13

BAC

Answer 13

Estimate at Completion
1. BAC-EV+AC (
2. EAC CPI, assuming the future performance rate will be the same rate as current performance. BAC/CPI
3. EAC CPI XSPI. Most realistic. (BAC-EV)/CPI X SPI +AC

Question 14

TCPI

Answer 14

To-Complete Performance Index. TCPI = (BAC-EV)/(BAC-AC)