Free Practice Questions for PMI PMI-SP Exam

Cost and schedule performance indexes should be as close to 1 as possible. A larger value, such as 2.12, means that the schedule duration estimates were likely bloated or incorrect to begin with.

Answer option B is incorrect. This is not the best choice for this question.

Answer option C is incorrect. The number should not be close to 100; it should be close to 1.

Answer option D is incorrect. While Mark may have crashed the schedule and driven up costs to achieve the SPI value, a more likely reason is that the time estimates were bloated.

The various group creativity techniques are as follows: Brainstorming: It is a technique used to generate and collect multiple ideas related to the project and product requirements. Nominal group technique: It is a technique used to enhance brainstorming with a voting process used to rank the most useful ideas for further brainstorming or prioritization. Delphi technique: It is a techniques used to identify potential risk. In this technique, the responses are gathered via a questionnaire from different experts and their inputs are organized according to their contents. Idea/mind mapping: It is a technique used to map the ideas generated by brainstorming to reflect the commonality and differences in understanding and generating new ideas. Affinity diagram: It is a technique used to allow a large number of ideas to be sorted into groups for review and analysis.

The Develop Project Charter process documents the formal authorization of a project or a phase. It also documents initial requirements that satisfy the stakeholder's needs and expectations. It is used to validate the decisions made during the previous iteration of the Develop Project Charter process. The various inputs of this process are as follows: Project statement of work

Business case

Contract

Enterprise environmental factors

Organizational process assets

The output of the Develop project Charter process is as follows:

Project charter

Answer option A is incorrect. Procurement document is the input of the Identify Stakeholders process.

An activity is an individual element of work that is logically linked to other activities to form the schedule. Its primary characteristics include an overall duration based upon the resources applied to it (manpower, material, and equipment), as well as a start and completion date that is tied to a work calendar. It also has a relationship with other activities (predecessors and successors).

The risk owner is the individual on the project team that is closest to the risk event. The risk owner can be an individual or an organization responsible for implementing risk responses or contingency plan. The risk owner should be empowered with the ability to respond to the risk as it was planned.

Answer option A is incorrect. Diane is the project manager and likely won't be the risk owner as well.

Answer option B is incorrect. The project sponsor authorizes the project but does not participate in the execution of the project.

Answer option D is incorrect. While a subject matter expert may be the risk owner on some occasions, he won't be the risk owner on every occasion.

Conformance to schedule is a required adherence for the project's schedule. In this instance, the project manager must not allow the schedule to slip more than five percent.

Answer option B is incorrect. This is the description of the schedule performance index.

Answer option D is incorrect. This is the description of the cost performance index.

Answer option C is incorrect. This is not a valid statement about the project performance.

Tom is working with the project communication management process, as it is required to ensure the timely disposition of project information. Project Communications Management is one of the nine Knowledge Areas. It employs the processes required to ensure timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition of project information. The following processes are part of Project Communications Management:

Identify Stakeholders

Plan Communications

Distribute information

Manage Stakeholder Expectations

Report Performance

The Project Communications Management processes provide the critical links among people and information that are necessary for successful communications. These processes interact with each other and with the processes in the other Knowledge Areas as well.

Answer option B is incorrect. Managing stakeholder expectation is the process of working and communicating with the stakeholders to meet their requirements.

Answer option A is incorrect. Work performance measurement uses the information to create project activity metrics to evaluate actual progress compared to planned progress.

Answer option D is incorrect. Stakeholder analysis is the process of gathering and analyzing quantitative and qualitative information to determine the interest of the stakeholders. You are the project manager for your organization. Management has asked you to document the holidays, weekends, and other corporate working hours, which will supersede the project timings for your schedule. Which calendar will communicate to the project stakeholders, when the project work will take place within the organization?

The schedule variance is the earned value minus the planned value. In this instance, it is $938,260-$1,055,543 = -$117,282. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.

Answer option D is incorrect. This is the cost variance for the project.

Answer option A is incorrect. This is the variance at completion.

Answer option C is incorrect. This is the inverse of the earned value.

The to-complete performance index can be found by using the formula (BAC-EV)/(BAC-AC) for a value of 1.07. The higher the value is from 1, the less likely the project will meet the BAC.

To-complete Performance Index (TCPI) is the measured projection of the anticipated performance required to achieve either the BAC or the EAC.

TCPI indicates the future required cost efficiency needed to achieve a target EAC (Estimate At Complete).Once approved, the EAC supersedes the BAC as the cost performance goal. Any significant difference between TCPI and the CPI needed to meet the EAC should be accounted for by management in their forecast of the final cost. The formula for TCPI is as follows:

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

Answer option A is incorrect. 0.98 is the project's cost performance index.

Answer option D is incorrect. This is the project's schedule performance index.

Answer option B is incorrect. -$16,667 is the project's variance at completion.

Schedule compression is a tool used as part of the Schedule Development process. The tools and techniques for schedule development are as follows:

Schedule network analysis

Critical path method

Critical chain method

Resource leveling

What-if scenario analysis

Applying leads and lags

Schedule compression

Scheduling tool

Answer options D, B, and C are incorrect. These are not tools and techniques for schedule development.