Questions based on core concepts

Question 1

What is PV?

Answer 1

Planned value - planned work cost

Question 2

What is EV?

Answer 2

Earned value - earned work cost

Question 3

What is AC?

Answer 3

Actual cost thus far

Question 4

What is BAC?

Answer 4

Budget at completion

Question 5

When is BAC calculated?

Answer 5

At the beginning of a project

Question 6

Was is EAC?

Answer 6

Estimated cost at completion

Question 7

What is ETC

Answer 7

Estimated cost to complete

Question 8

What is VAC?

Answer 8

Variance of cost at completion

Question 9

What is the cost variance formula?

Answer 9

CV = EV - AC

Question 10

What is the schedule variance formula?

Answer 10

SV = EV - PV

Question 11

What is the CPI formula?

Answer 11

CPI = EV / AC

Question 12

What is a good CPI?

Answer 12

CPI > 1 means under budget

Question 13

What is the SPI formula?

Answer 13

SPI = EV / PV

Question 14

What is a good SPI?

Answer 14

SPI > 1 means you are ahead of schedule.

Question 15

Assuming the rate of spending will be the same now as it is in the future, what is the EAC formula?

Answer 15

EAC = BAC / CPI

Question 16

Assuming from now on, the spending rate will be as it was planned in the beginning, what is the EAC formula?

Answer 16

EAC = AC + (BAC - EV)

Question 17

Assuming from now on, future spending will be affected by both schedule and cost performances, what is the EAC formula?

Answer 17

EAC = AC + (BAC-EV)/(SPIxCPI)

Question 18

Assuming you re-estimate the future cost from now until completion, what is the EAC formula?

Answer 18

EAC = AC + new estimation

Question 19

If we want to complete the project with the cost equal to the budgeted cost, what formula should we use?

Answer 19

To complete performance index

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

Question 20

What is ETC?

Answer 20

Estimate to complete

Question 21

What is the formula for ETC?

Answer 21

ETC = EAC - AC

Question 22

What is the variance at completion formula?

Answer 22

VAC = BAC - EAC

Question 23

What does it mean when an activity in a Gantt has a lead?

Answer 23

The work of the successor is accelerated. Example, starting the successor before the predecessor is completed.

Question 24

What does it mean when an activity in a Gantt has a lag?

Answer 24

Successor activity is delayed.

Question 25

What does it mean when a schedule is crashed?

Answer 25

Schedule is compressed. TMs are added, OT is added and items are expedited.

Question 26

What does it mean when a schedule is fast tracked?

Answer 26

Compression method that involves working activities in parallel.

Question 27

What is the total float formula?

Answer 27

Latest finish - earliest finish

Question 28

What is the critical path?

Answer 28

Sequence of activities that take the longest, which determines the shortest duration.

Question 29

What is float?

Answer 29

Measures days an activity may slip from and/or extend beyond planned dates, without overrunning the project completion date.

Question 30

What is MacGregors theory?

Answer 30

Motivational approach that describes different types of workers, X and Y.

Question 31

What are the stages of Tuchman's Ladder?

Answer 31

Forming Storming Norming Performing Adjourning

Question 32

What is Parkinson's Law

Answer 32

Work will expand to fill the time available.

Question 33

What are the con's of Parkinson's Law

Answer 33

May cause PM to dip into contingency reserves and lead to late start dates and schedule slippages.

Question 34

What is the burn rate formula?

Answer 34

AC/EV

Question 35

What is the EV formula?

Answer 35

% of project completed x budget

Question 36

What is on the top row of the critical path box? What is on the bottom?

Answer 36

Early Start - Duration - Early Finish Late start - float - late finish

Question 37

What are the steps for creating a schedule?

Answer 37

1. Decompose scope 2. Sequence activities 3. Estimate effort 4. Allocate people 5. Adjust as needed

Question 38

What is the PMs role in the procurement process?

Answer 38

Ensure project risks are understood.

Question 39

This Agile chart is a tool for empirical and value based measurements of project results

Answer 39

Burn down chart

Question 40

What are the four steps of elicitation?

Answer 40

Introduction, body, follow up and close.

Question 41

What is a timebox?

Answer 41

Duration for which an agile event must not exceed

Question 42

What are some examples of scope models?

Answer 42

Ecosystem map, context diagram, feature model, fishbone diagram, SWOT

Question 43

What are some examples of process models?

Answer 43

Process flow chart, use case and user story

Question 44

What are some examples of rule models?

Answer 44

Business rules catalog, decision tree and decision table

Question 45

What are some examples of data models?

Answer 45

Entity relationship diagram, data flow diagram, data dictionary, state table and state diagram.

Question 46

What are some examples of interface models?

Answer 46

Report model, system interface table, user interface flow, wireframes, display action response

Question 47

What are some prioritization techniques?

Answer 47

Ranking MoSCoW Kano Analysis 5 Why’s

Question 48

Types of prototypes

Answer 48

Wireframe Low and high fidelity Working Evolutionary Feasibility Storyboard

Question 49

What are the conflict resolution models?

Answer 49

Confronting Collaborating Compromising Smoothing/Accommodate Forcing Withdrawal/Avoiding

Question 50

What is the Hawthorne effect

Answer 50

very act of measuring something can influence the results being measured

Question 51

What are the three things a salience model measures

Answer 51

Power, urgency and legitimacy