1. A. Changes to product scope should be reflected in the project scope.
2. D. Scatter diagrams display the relationship between an independent and dependent variable over time.
3. C. WBS element changes are scope changes. According to the PMBOK® Guide, schedule revisions are often required as a result of scope changes.
4. C. The Verify Scope process is concerned with the acceptance of work results. It also formalizes the acceptance of the project scope.
5. B. Verify Scope should document the level and degree of completion of the project given the circumstances in this question. If you come back at a later date and restart this project, Verify Scope will describe how far the project progressed and give you an idea of where to start.
6. B. Schedule variances will sometimes—but not always—impact the schedule. Changes to noncritical path tasks will not likely impact the schedule, but changes to critical path tasks will always impact the schedule.
7. C. To-complete performance index determines the cost performance that must be realized for the remaining work of the project to meet a goal such as BAC or EAC.
8. D. Budget updates might require cost rebaselining.
9. A. Schedule variance is (EV - PV) and schedule performance index is (EV / PV).
10. C. Earned value is referred to as the value of the work that's been completed to date compared to the budget.
11. D. The CV is a positive number and is calculated by subtracting AC from EV as follows: 250 - 200 = 50. A positive CV means the project is coming in under budget, meaning you've spent less than you planned as of the measurement date.
12. A. The SV calculation is EV - PV. If PV is a higher number than EV, you'll get a negative number as a result.
13. B. CPI is calculated as follows: EV / AC. In this case, 250 / 200 = 1.25.
14. B. When you accept project performance to date and assume future ETC work will be performed at the budgeted rate, EAC is calculated as follows: AC + BAC - EV. Therefore, the calculation for this question looks like this: (20 0 + 8 00) - 250 = 750.
15. C. The correct formula for ETC for this question is as follows: BAC - cumulative EV. Therefore, ETC is as follows: 375 - 250 = 125.
16. A. When project performance is expected to behave like past performance, EAC is calculated as follows: EAC = BAC / cumulative CPI. Therefore, the calculation for this question looks like this: 800 / 1.25 = 640.
17. D. You first have to calculate EAC in order to calculate VAC. EAC for variances that are atypical is AC + BAC - EV. So our numbers are 275 + 500 - 250 = 525. VAC is calculated this way: BAC - EAC. Therefore, 500 - 525 = -25. Our costs are not doing as well as anticipated.
18. C. You must first calculate cumulative CPI in order to calculate ETC. Cumulative CPI
is cumulative EV / cumulative AC. We have 250 / 275 = .91. ETC with typical variances is (BAC - cumulative EV) / cumulative CPI. Our numbers are (500 - 250) / .91 = 274.7.
19. B. Workarounds are unplanned responses. They deal with negative risk events as they occur. As the name implies, workarounds were not previously known to the project team. The risk event was unplanned, so no contingency plan existed to deal with the risk event, and thus it required a workaround.
20. A. CPI is considered the most critical EVM metric. It measures the cost efficiency of the project work completed at the measuring date.
Was this article helpful?
What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.