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You are the project manager of the NHA Project. This project is expected to last one year with quarterly milestones throughout the year. Your project is supposed to be at the third milestone today but you're likely only 60 percent complete. Your project has a BAC of $745,000 and you've spent $440,000 of the budget-to-date. What is your schedule performance index for this project?
The schedule performance index can be found by dividing the earned value by the planned value. In this project, it's $447,000 divided by the $558,750 for a value of 0.80. Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula:
SPI = Earned Value (EV) / Planned Value (PV)
If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target.
Answer option A is incorrect. '80' is not the same value as '.80'. Answer option B is incorrect. 1.02 is the cost performance index. Answer option C is incorrect. 102 is not a valid calculation for this question.
A project manager is reviewing her project performance. Her project has a BAC of $950,000 and is
currently 40 percent complete, though it
was scheduled to be 45 percent complete at this time. Her project has spent $387,526. Management
would like to know if there is a schedule
variance. What is the planned value for this project?
The planned value is the percentage of where the project should be times the budget at
completion. In this instance, it is 45 percent of the
$950,000. Here, it can be calculated as follows:
PV = 45% of BAC
= 0.45 * 950,000
= 427,500
Planned value (PV) is the authorized budget assigned to the schedule work to be accomplished for a
schedule activity or work breakdown
structure component. It serves as a baseline against which actual performance is measured. The
theory of planned value is of vital importance
to the project management team and it is important to keep careful track of this. The term planned
value can also be in some situations
referred to by the project management team and the project management team leader as the
budgeted cost of work scheduled (BCWS).
Answer option A is incorrect. -$47,500 is the schedule variance (SV = EV-PV).
Answer option B is incorrect. This is the schedule performance index (SPI = EV/PV).
Answer option D is incorrect. This is the cost performance index (CPI = EV/AC).
You are the project manager of the BHG Project. You are creating a network diagram as shown in the figure:
Mary, a project team member, reports that an identified risk is likely to happen in the project that will affect the completion date of Activity D . She reports that the risk event will likely cause the duration of the activity to increase by six days. If this happens what is the earliest the project can complete?
If Activity D increases by six days, the duration of the project will not change. There is 11 days of float available for Activity D so it may delay by six days without affecting the project end date. What is float? Float or total float (TF) is the total amount of time that a schedule activity may be delayed from its early start date without delaying the project finish date, or violating a schedule constraint. It is calculated by using the critical path method technique and determining the difference between the early finish dates and late finish dates. Answer options A, B, and C are incorrect. These are not valid answers for the question.
Holly is the project manager of the NDS project and she is 85 percent complete with her project though she should be 95 percent complete. Her project has a BAC of $9,850,400 and she has spent $8,011,221 to date. What is Holly's schedule performance index for this project?
The schedule performance index is found by dividing the earned value by the planned value. For
Holly's project, it would be as follows:
SPI = EV/PV
= (0.85*9,850,400)/(0.95*9,850,400)
=8,372,840/9,357,880
=0.89
Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in
trend analysis to predict future performance.
SPI is the ratio of earned value to planned value. The SPI is calculated based on the following
formula:
SPI = Earned Value (EV) / Planned Value (PV)
If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value
is less than 1, it shows poor
performance. The SPI value of 1 indicates that the project is right on target.
Answer option D is incorrect. Ten percent is not a valid calculation for this question.
Answer option B is incorrect. 0.98 is the cost performance index.
Answer option A is incorrect. 1.07 is the to-complete performance index based on the BAC.
Ned is the project manager for his organization. Ned is using a standard tool to capture, store, and distribute information to the stakeholders about the project costs, schedule, and performance. What term is assigned to this communication tool?
This is simply an example of a reporting system. It can be part of the project
management information system, but for your examination, the
PMBOK acknowledges this tool directly as part of project performance reporting.
Reporting system is a tool and technique used for reporting performance. It is a standard means to
store, capture, and give out the
information to the stakeholders about the project costs, performance, and schedule.
Answer option A is incorrect. The project management information system does more than just
communicating the performance. It is a tool to
help the project manager plan and monitor the project.
Answer option D is incorrect. The PMBOK does not mention a communications management system.
Answer option B is incorrect. Table reporting is one output of a reporting system, not the entire
system.
