PMI-SP Online Practice Questions and Answers

Correct Answer: D

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.

Correct Answer: C

The precedence diagramming method is not a tool and technique that will be used during the activity definition process. Precedence diagramming method (PDM) is used in critical path methodology for building a project schedule network diagram that uses boxes or rectangles, referred to as nodes, to represent activities, and join each other with arrows that show the logical relationship that exists between them. The tools and techniques used in defining the activity process are as follows: Decomposition: It is used to further divide the project work package into a more smaller and convenient form called activities. Rolling Wave Planning: It is a form of progressive elaboration planning where the work to be accomplished in the near term is planned in detail and future work is planned at a higher level of WBS. Templates: It is an activity list or a part of the activity list taken from the previous project and used in a new project. Expert Judgement: The skilled members in a project team or other experts who develop project scope statements can help provide knowledge in defining activities.

Correct Answer: A

The planned value is the percent complete that the project should have done. In this instance, it is:

Planned value = 45% of $1,258,456 =$566,305

Answer option B is incorrect. This is the project budget. Answer option D is incorrect. $503,382 is the earned value for this project. Answer option C is incorrect. -$54,044 is the variance at completion for your project.

Correct Answer: D

An external dependency is any nonproject activity that is external to the project but has a direct impact on the project activities. An external dependency may be an inspector or any agency that may have to give prior approval before the project can move forward. Answer option B is incorrect. Required dependency is not a valid term to describe a dependency. Answer option A is incorrect. Mandatory dependencies describe the required order in which the project work must take place - such as foundation before framing, or the operating system installed before the application may be installed. Answer option C is incorrect. Discretionary dependencies describe the optional order of the project work, such as painting the walls before installing the carpet.

Correct Answer: C

These are examples of a time series method for forecasting project performance. Another method that fits with the time series method of forecasting is earned value management. Forecasting is the process of estimating or predicting in

unknown situations. Forecasting is about predicting the future as accurately as possible with the help of all the information available, including historical data and knowledge of any future events that might impact forecasts. The forecasting

methods are categorized as follows: Time series method: It uses historical data as the basis for estimating future outcomes. Causal/econometric method:

This forecasting method is based on the assumption that it is possible to identify some factors that might influence the variable that is being forecasted. If the causes are understood, projections of the influencing variables can be made and

used in the forecast. Judgmental method: Judgmental forecasting methods incorporate intuitive judgments, opinions, and subjective probability estimates. Other methods: Other methods may include probabilistic forecasting, simulation, and

ensemble forecasting. Answer option B is incorrect. Causal/econometric methods do not use the moving average, but models such as linear regression and non- linear regression.

Answer option A is incorrect. Judgmental methods for forecasting are based on intuition, opinions, and probability estimates.

Answer option D is incorrect. The estimate at completion method is an earned value management formula, which is part of the time series method for reporting and forecasting performance.

Correct Answer: D

The various phases of the decision making process are as follows: Problem definition: This phase explores, clarifies and defines the problem. Problem solution generation: This phase draws out the new idea generating process by brainstorming multiple solutions and rejecting premature decisions. Ideas to action: This phase defines the evaluation criteria, rate pros and cons of alternatives and helps in selecting the best solution. Solution action planning: This phase involves key participants to gain acceptance and commitment to make the solution work. Solution evaluation planning: This phase performs the post implementation analysis, evaluations and lessons learned. Evaluation of the outcome and process: This phase evaluates how well the problem was solved or project goals were achieved.

Correct Answer: C

This is an example of a fragment network. By adapting the network template to the current project and just using a portion of the template, the template is fragmented. A schedule network diagram template is used to speed up the preparation of networks of project activities. It comprises of the whole project, or a portion of the project activity. The various parts or portions of a project schedule network diagram are known as a subnetwork or a fragment network. When projects have related necessities and components, project managers can develop more efficient network diagrams by using the schedule network diagram templates. Answer option D is incorrect. Parametric is an estimating technique that uses a parameter, such as $199 per installation, for a group of installation activities. Answer option A is incorrect. Analogous estimates use historical information to predict the cost or duration of the current project. Answer option B is incorrect. While this term, sometimes, describes a task within the project network diagram that does not connect to other paths, it is not a valid term.

Correct Answer: D

The schedule variance is found by subtracting the planned value from the earned value. In this instance, it is $447,000 minus $558,750. 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 C is incorrect. $7,000 is the cost variance for this project. Answer option A is incorrect. $11,667 is the variance at completion for this project. Answer option B is incorrect. 1.02 is the cost performance index for this project.

Correct Answer: B

The critical path is discovered by summing the duration of each activity node in each chain of activities in the project network diagram. In this figure, the critical path is ACFGJ, which is 26 days, the longest chain of activities in the project. Answer option A is incorrect. This path's duration is 22 days. Answer option D is incorrect. This path's duration is 23 days. Answer option C is incorrect. This path's duration is 15 days.

Correct Answer: A

The activity attributes initially include the Activity ID, WBS ID, and the Activity Name, but it can evolve over time to include other components about the work. Activity attributes are an output of the Define Activity process. These attributes refer to the multiple components that frame up an activity. The components for each activity during the early stages of the project are the Activity ID, WBS ID, and Activity name. At the later stages, the activity attributes include Activity codes, Predecessor activity, activity description, logical relationship, successor activity, leads and lags, imposed dates, and constraints and assumptions. Activity attributes are used for schedule development and for ordering, selecting, and sorting the planned schedule activities in a number of ways within reports. Answer option B is incorrect. A project management plan is a formal document that defines how the project is being monitored, controlled, and executed. It is not the best answer. Answer option D is incorrect. The roles and responsibilities matrix records the work and the person to record the work, but does not offer additional information such as locale for the work, level of effort, and other information. Answer option C is incorrect. The Schedule Management Plan defines how the schedule will be created, executed, and controlled.