PMI-SP PMI Scheduling Professional Question and Answers

The fax machine is the encoder of the message. The communication model shows the traversal of information between two hosts, known as the sender and the receiver. The key components of the model are as follows: Encode: It is used to crypt or code the message into a language that is understood by others. Decode: It is used to decrypt the message back into the meaningful codes. Message and feedback message: It is the output of encoding. Noise: It is referred to anything, which interferes with the transmission and understanding of the message. Medium: It is the method used to convey the message. In the communication process, it is the duty of the sender to send clear and complete information to the receiver so that it is properly received by the receiver, and for confirming that it is properly understood. The duty of the receiver is to make sure that the information received is understood and acknowledged properly. A failure in communication can negatively impact the project.

Answer option C is incorrect. The sender is the person sending the message.

Answer option D is incorrect. The medium is the telephone lines between the two fax machines.

Answer option B is incorrect. The transporter is not a valid term for the communication model.

A make-or-buy analysis is used to verify whether a particular work can best be accomplished by the project team or must be purchased from outside sources. The budget constraints can influence the make-or-buy decisions. A make-or-buy analysis must consider all related costs; both direct and indirect support costs.

Answer option B is incorrect. Expert judgment is a technique based on a set of criteria that has been acquired in a specific knowledge area or product area. It is obtained when the project manager or project team requires specialized knowledge that they do not possess.

Answer option A is incorrect. The type of contract to be used and the specific contract terms and conditions fix the degree of risk being assumed by the buyer and seller.

Answer option C is incorrect. Negotiations clarify the structure, requirements and other terms of the purchase so that the mutual agreement can be reached prior to signing the contracts.

The schedule performance index is found by dividing the earned value by the planned value. In this instance, the planned value is ten percent more than where the project is forty percent of the budget at completion. 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 C is incorrect. 0.95 is the project's cost performance index.

Answer options A and D are incorrect. An index is a decimal value.

The Integration Change Control process is a part of Project Integration Management knowledge area group. It falls under the Monitoring and Controlling process group. Monitoring and controlling is a process group or stage that starts when the project is in the executing stage. This process overlaps the executing stage. Monitoring and controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project. The key benefit is that project performance is observed and measured regularly to identify variances from the project management plan. Monitoring and controlling includes: Measuring the ongoing project activities (where we are). Monitoring the project variables (cost, effort, ...) against the project management plan and the project performance baseline (where we should be). Identify corrective actions to properly address issues and risks (How can we get on track again). Influencing the factors that could circumvent integrated change control so only approved changes are implemented. In multi-phase projects, the monitoring and controlling process also provides feedback between project phases, in order to implement corrective or preventive actions to bring the project into compliance with the project management plan. What is Project Integration Management? Project Integration Management is one of the nine Project Management Knowledge areas. It comprises the following processes:

Develop Project Charter

Develop Preliminary Project Scope Statement

Develop Project Management Plan

Direct and Manage Project Execution

Monitor and Control Project Work

Integrated Change Control

Close Project

These processes occur throughout the project and are repeated quite often during the working of the project. They ensure that the various elements of the project are properly coordinated.

The project risks are documented in the risk register - including the probability and impact information. The risk register is an output of the Identify Risks process. Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. Description, category, cause, probability of occurring, impact on objectives, proposed responses, owner, and the current status of all identified risks are put in the risk register.

Answer option A is incorrect. The risk management plan addresses that how risks will be identified, monitored, and controlled.

Answer option D is incorrect. The activity attributes information is needed, but risks are not part of the activity attributes.

Answer option B is incorrect. The schedule management plan addresses how the schedule will be created, executed, and controlled.

Stakeholders are interviewed and can help identify other stakeholders that should be included in the project communications.

Answer option B is incorrect. According to the PMBOK, this is not the best answer.

Answer option A is incorrect. Stakeholders are entered into a stakeholder register, not identified by it.

Answer option C is incorrect. Project customers are stakeholders.

The code of accounts is a hierarchical numbering system that uniquely identifies each deliverable of the WBS and segments the WBS by levels of numbering.

Answer option C is incorrect. Component numbering is not a valid term for project management.

Answer option B is incorrect. A chart of accounts is a financial tracking and assignment tool for common deliverables and activities an organization performs for its customers.

Answer option D is incorrect. Activity linkage sequencing is not a valid project management term.

Report performance is a project process that collects and distributes information on the project work.

Answer option C is incorrect. Earned value management may be used as the tool and technique for determining project performance.

Answer option D is incorrect. Monitor and control project performance is not a project process so this choice is not valid.

Answer option A is incorrect. Corrective action is a response to project performance to bring the project back into alignment with expectations.

The project termination request is not an output of the control schedule. Early termination of a project is a closing process and usually does not stem from the project manager. The outputs of the control schedule process are as follows: Work Performance Measurements: The work packages and control accounts are documented and communicated to the stakeholders. Organizational Process Assets Updates: The assets that are updated are: corrective actions chosen and the reasons, causes of variance, and other types of lessons learned from project schedule control. Change Requests: It is processed for reviews and disposition through the Perform Integrated Change Control process. Project Management Plan Updates: The elements that need to be updated are: schedule baseline, schedule management plan, cost baseline. Project Document Updates: The elements that need to be updated in project document updates are: schedule data and project schedule.

This is an example of fast tracking. Fast tracking allows phases to overlap in order to compress the project schedule.

Answer option D is incorrect. Crashing adds labor to the project in order to complete effort-driven activities in less time.

Answer option B is incorrect. The lead time allows individual activities to overlap, not entire phases.

Answer option A is incorrect. Resource leveling heuristics are rules that limit the amount of time a labor resource may contribute to the project in a given time period.

When project team workers complete repetitive tasks, efficiency through learning will diminish the overall duration of the project tasks. A parametric estimate is an estimate that uses a parameter to predict the costs of the project, such as cost per network drop or cost per software license. Parametric estimating technique utilizes the statistical relationship that exists between a series of historical data and a particular delineated list of other variables.

Answer options B, D, and C are incorrect. These are not the valid statements.

Performance report is an input of monitor and control project work. Reports are prepared by the project team detailing activities, milestones, and problems. A performance report is made by the project team detailing activities, milestones, problems, accomplishments, and identified issues. Performance reports are used to report some key information as follows: Current status Scheduled activities Significant accomplishment for the period Forecasts Issues

Answer option B is incorrect. It is the tool and technique used for monitoring and controlling project work.

Answer options A and D are incorrect. These are the outputs to monitor and control project work.

The law of diminishing returns state that the user cannot exponentially add labor to a project to reduce the amount of time required to complete the project work. In other words, Harry cannot keep doubling the workforce on this project to reduce the project duration down to just a few minutes. The law of diminishing returns state that "the user will get less and less output when he add additional doses of an input while holding other inputs fixed. In other words, the marginal product of each unit of input will decline as the amount of that input increases holding all other inputs constant." Diminishing returns mean that the extra labor causes output to fall, which means that the MPL is negative. In other words, the change in output per unit increase in labor is negative and total output is falling.

Answer option C is incorrect. This is not a valid project management term.

Answer option A is incorrect. Parkinson's Law states that work will expand to the amount of time allotted to it.

Answer option D is incorrect. Moore's Law is based on Intel's Gordon Moore who stated that processor speeds generally double in power every 18 months.

This is also known as a hammock activity, as the SS and FF relationship hangs off of the activities in the project network diagram. A hammock activity is a schedule or project planning term for grouping of subtasks that "hangs" between two end dates it is fixed to. It groups subtasks that are not related in the hierarchical sense of a Work Breakdown Structure. It also groups subtasks that are not related in a logical sense of a dependency where one subtask must wait for another. A hammock activity usually refers to report information that is time-dependent and lasts from the initial to the latest date of the activities it encompasses. By using a hammock activity, the top management is able to see an overview of the project without being besieged by details.

Answer option D is incorrect. Finish-to-start is the most common relationship between project activities in the project network diagram.

Answer option A is incorrect. Project management overhead describes the work that supports the project objectives, but is not linked directly to the project deliverables.

Answer option C is incorrect. A subproject is a discrete set of work that contributes to the project, but branches off the primary project work. A subcontract portion of the project is an example of a subproject.

The various techniques of group decision making are as follows: Unanimity: In this technique, everyone agrees on a single course of action. Majority: In this technique, more than 50% of the members of the group support the decisions. Plurality: In this technique, the largest block in a group decides even if a bulk is not achieved. Dictatorship: In this technique, one individual makes the decision for the group.

Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope.

Answer option D is incorrect. Crashing is a process in that the project manager adds more resources to effort-driven activities in an attempt to shorten their duration.

Answer option A is incorrect. A lag time is a delay between the predecessor and the successor tasks. Sometimes it may be needed to schedule a delay between the predecessor and the successor tasks. For example, if two coats of paint are required to paint a car, then the final coat should be applied only when the first coat dries. This delay is known as the lag time. The lag time is entered as a positive value. The lag time can be entered as a duration or as a percentage of the predecessor's task duration. It is entered on the Predecessor tab in the Task Information dialog box.

Answer option B is incorrect. A lead time is the time that overlaps between the predecessor and the successor tasks. The successor task can start before the predecessor task finishes. For example, if a task can start when its predecessor is one-fourth finished, a finish-to-start dependency with a lead time of 25 percent for the successor task can be specified. The lead time is entered as a negative value. The lead time can be entered as a duration or as a percentage of the predecessor's task duration. It is entered on the Predecessor tab in the Task Information dialog box.

This is an example of corrective action. The project team will fix the mistake and they have learned from their mistake so it won't happen again.

Answer option C is incorrect. Risk mitigation is defined as monies spent or actions taken to reduce the probability and impact of an identified risk event.

Answer option A is incorrect. A risk response is an action to counteract an identified risk.

Answer option B is incorrect. There may be some team development happening in this instance but we don't have enough information to know for certain. Team development is an activity that brings the whole team cohesion, interdependency, and trust.

The critical chain method is similar to the critical path method, but it considers the availability of project resources. The critical path method assumes that the project resources are available for the identified project work in the sequence of the work as defined in the project network diagram. The Critical Chain method is a project management technique in which schedule network analysis is used for the purpose of modifying and determining a set of project schedules to account for more inadequate than estimated project financial resources. This method tends to keep the resources levelly loaded, but requires the resources to be flexible in their start times and to quickly switch between tasks and task chains to keep the whole project on schedule. In the Critical Chain method, projects are completed more rapidly and with better scheduling consistency.

Answer options B, A, and D are incorrect. These are not valid definitions for the critical chain method.

Once the project scope statement has been approved, the project manager and the project team should decompose the project scope statement into the WBS.

Answer option A is incorrect. Before the activity list may be created, the WBS is needed. The activity list is based on the work packages identified in the WBS.

Answer option C is incorrect. Creating the risk assessment for the project is part of project planning, but it is not the most appropriate process to complete at this time.

Answer option D is incorrect. Determining the project budget is the process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. Determining the project budget is a part of project cost management.

A schedule variance is found by subtracting the planned value from the earned value. A -$37,500 schedule variance is considerable for most projects, but combined with a schedule that is six percent off schedule is more serious. The size of the project, however, and the defined project budget, needs to be determined to evaluate how serious the variance is. 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 B is incorrect. This project is not performing well based on the given information.

Answer option A is incorrect. This project is likely to be late, but we do not know how costs are performing in this question.

Answer option C is incorrect. There is not enough information to determine how well the project is performing from this answer.

Of all the choices, the WBS is the best choice. The entire scope baseline is needed as an input, not just the WBS. The inputs to the Define Activities process are as follows: Scope Baseline: The project constraints, assumptions documented, and deliverables in the project scope baseline are considered while defining activities. Enterprise Environmental Factors: One of the factors that affect the Define Activities process is the project management information system (PMIS). Organizational Process Assets: The assets that can affect the Define Activities process are as follows: 1.The existing proper and unofficial scheduling strategies, procedures, and related policies that are measured in developing the activity definitions 2.The lessons-learned knowledge base containing the past information about activity lists used by similar earlier projects

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.

In severe cases, new schedule duration estimates with new forecasted start and finish dates are needed. In these instances, it is an example of using the control schedule process. Control schedule process is a method of monitoring the status of the project to update project progress and deal with the changes to the schedule baseline. It is concerned with: Determining the current status of the project Influencing the factors that create schedule changes Determining that the project schedule has changed Managing the actual changes as they occur Control schedule is a component of the Perform Integration Change Control process.

Answer option B is incorrect. The activity resources would only address the addition or replacement of resources needed to complete the project work.

Answer option A is incorrect. This is a tempting choice, but according to the PMBOK, new schedules are part of the control schedule process.

Answer option D is incorrect. Develop schedule is not the best choice for this question. It is a process of analyzing activity sequences, durations, resource requirements, and schedule constraints to create the project schedule.

The role of operations manager is to perform various management roles in a core business area, such as research and development, design, manufacturing, provisioning, testing, or maintenance. The operations manager directly deals with constructing and maintaining the saleable products or services of the enterprise.

Answer option C is incorrect. A project manager is an expert in the field of project management. He is responsible for the entire project from inception to completion. The project manager leads the team and helps negotiate the multiple relationships within any project whether with clients, team members, firm principals or any variety of partners and functions as the hub of a project.

Answer option A is incorrect. The role of a functional manager is to perform various management roles within an administrative or functional area of the business, such as human resources, finance, accounting, or procurement. He is assigned his own permanent staff to carry out the ongoing work. He should have a clear directive to manage all tasks within his functional area of responsibility.

Answer option D is incorrect. Seller is also known as a vendor, supplier or contractor. They are external company's elements that enter into a contractual agreement to provide components or services necessary for the project.

A statement of work (SOW) is a document that captures and defines the work activities, deliverables and timeline that a vendor will execute against in performance of work for a customer. Detailed requirements and pricing are usually specified in it, along with many other terms and conditions. SOW is a narrative description of products or services to be supplied by the project. For internal projects, the project initiator or sponsor provides the statement of work based on business needs, product, or service requirements. For external projects, the statement of work can be received from the customer as part of a bid document.

Answer option A is incorrect. Scope of statement gives the narrative description of the project scope.

Answer option B is incorrect. Project charter is a document that formally authorizes a project manager to work on a project.

Answer option D is incorrect. WBS is a tool that defines a project and groups the project discrete work in a way that helps organize and define the total work scope.

The schedule performance index shows how well the project is performing on its schedule goals. The SPI can be found by dividing the earned value by the planned value. In this instance, it is $2,025,000 divided by $2,250,000 for .90. The closer to 1, the better the performance. 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 B is incorrect. 0.98 is the cost performance index.

Answer option A is incorrect. 1.02 is the to-complete performance index.

Answer option D is incorrect. -$108,120 is the variance at completion based on current performance.

Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. In this instances it is $270,000 divided by $335,000 for a CPI of .81.

Answer option B is incorrect. .67 is actually the schedule performance index.

Answer option D is incorrect. -$65,000 is the cost variance for the project.

Answer option A is incorrect. -$135,000 is the schedule variance of the project.

The rough order of magnitude (ROM) estimate is used early in the project when there is not much information available to create a time estimate. Rough order of magnitude estimates can have a range of variance as large as -25% to +75 percent. While ROM is mostly used with cost estimates, it can be used with time estimates too. Rough order of magnitude (ROM), also known as ball park estimate, is a rough approximation, made with a degree of knowledge and confidence that the estimated figure falls within a reasonable range of values. ROM range can vary from half to twice (-50 to +100) the actual cost.

Answer option B is incorrect. Broad estimate is not a valid time estimating type.

Answer option D is incorrect. Expert judgment is what the project manager used in this scenario to create the time estimate, but it is not a time estimating type.

Answer option A is incorrect. An analogous estimate is based on historical information from a similar project. For example, Project A took 8 months to complete and Project B, while similar but larger, will take 10 months to complete.

The main function of the schedule model is to provide a useful 'road map' that can be used by the project manager and the project team to assist them in completing the project fruitfully. A well-developed schedule model is an active tool used to predict at what time the project work that remains to be completed can reasonably be completed. The schedule model allows the project team to look at the performance of the project to date, and use that data to make more accurate projections about the future.

Project document updates are not an output of the Define Activities process. Project document updates are the outputs for estimate activity resources. Project document updates include the following:

Activity list

Activity attributes

Resource calendars

Answer option A is incorrect. The activity list is an output of the define activities process.

Answer option C is incorrect. The activity attributes is an output of the define activities process.

Answer option B is incorrect. The milestone list is an output of the define activities process.

Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope. It does not add any additional labor but it can introduce project risks.

Answer option D is incorrect. Removing things from the project scope can reduce the project duration, but it will not satisfy the requirements the stakeholders have identified.

Answer option A is incorrect. Resource leveling can actually increase the project duration.

Answer option B is incorrect. Crashing can reduce the project duration but it increases the labor expense, something the stakeholders won't approve.

Noise is anything that disrupts the communication method such as static on the telephone line, distracting conversations, or misunderstandings.

Answer option A is incorrect. Static is an example of noise, but it is not part of the communication model.

Answer option D is incorrect. A barrier to communication is when communication cannot happen under the present conditions.

Answer option B is incorrect. A deterrent is not a valid part of the communication model.

Ben's project will have 140 more communication channels because of the five additional stakeholders. To solve the question, you will need to find the current stakeholder communication channels first, which is (26*25)/2= 325, and then find the difference of the number of channels for the five additional stakeholders. You can use the formula of N(N-1), where N is the number of stakeholders. In this example, the formula would read: Total number of communication channels that Ben will have next = ((31*30)/2)-((26*25)/2 =140

Answer option D is incorrect. Five is the number of additional stakeholders.

Answer option B is incorrect. 10 is the number of communication channels among just five stakeholders.

Answer option C is incorrect. 325 is the number of current communication channels.

The cost variance for the project is -$51,000. You can find the cost variance by using the formula earned value minus planned value. In this instance, it is: CV = EV - AC = (0.60* 2,456,900) - 1,525,140 = -51,000

Answer option C is incorrect. -$85,000 is the project's variance at completion.

Answer option A is incorrect. $122,845 is the project's schedule variance.

Answer option D is incorrect. There is a cost variance on this project of -$51,000.

The best answer is simply an exception report. An exception report refers and documents the major mistakes, mishaps, and goofs. In other words, it itemizes the important and critically significant piece of documentation that is vital to the proper and effective functioning of a project. It does not document what has gone right, but rather documents what has gone wrong.

Answer option C is incorrect. A performance management report is not a valid project management report.

Answer option A is incorrect. The question is asked about cost and schedule so this answer would not be appropriate for both the cost and the schedule.

Answer option D is incorrect. The question is asked about cost and schedule so this answer would not be appropriate for both the cost and the schedule.

The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BA

C. Planned value is the percentage of where the project should be at this time multiplied by the BA

C. 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. In this example, EV = 40% of BAC = 300,000, and PV = 50% of BAC = 375,000 SV = 300,000 - 375,000 = -75,000

Answer options C, B, and D are incorrect. These are not the correct values for the schedule variance.

Any meetings, phone calls with multiple participants, or conferences are examples of the interactive communications.

Answer option B is incorrect. Active communication is not a PMBOK term for project management.

Answer option D is incorrect. A push technique describes a distribution from the project manager out to the message recipients, such as email.

Answer option C is incorrect. A pull technique describes a distribution method where the recipients of the message pull the message from a source, such as a Web server.

Crashing is the addition of project resources to complete effort-driven activities in faster time. By adding more labor the activity can be completed faster. Crashing is a schedule compression technique to obtain the greatest amount of compression for the least incremental cost. Crashing works for activities where additional resources will shorten the duration. Approving overtime, bringing in additional resources, paying to expedite delivery to activities on the critical path are examples of crashing.

Answer option A is incorrect. An activity of fixed duration, such as printing 100,000 brochures in a printing press, won't be completed faster by adding more effort.

Answer option D is incorrect. Activities need not be risk-free to use project crashing.

Answer option C is incorrect. All effort-driven activities are susceptible to the Law of Diminishing Returns. By adding more labor the value of the yield of the work decreases because of the cost of the labor added to the project work.

Forecasting method is a technique used in generating performance reports. 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. It is one of the tools and techniques of the report performance process.

Answer option A is incorrect. Work performance information is the data gathered on the status of the project schedule activities that are performed to accomplish the project work. This data is collected as part of the Direct and Manage Project Execution processes. WPI includes the following: Deliverables status Schedule Progress Costs incurred It is used as an input in generating the report performance process.

Answer option C is incorrect. Work performance measurements are created from the work performance information. WPMs are an output of Control schedule, Control cost, and Control scope processes, which are monitoring and controlling processes. WPMs consist of planned versus actual performance indicators with respect to scope, schedule, and cost. They are documented and communicated to the stakeholders and are used to make project activity metrics, such as the following: Planned vs. Actual Technical performance and Scope performance Planned vs. Actual Schedule performance Planned vs. Actual Cost performance They are used as an input in generating the report performance process.

Answer option B is incorrect. Change requests are requests to expand or reduce the project scope, modify policies, processes, plans, or procedures, modify costs or budgets or revise schedules. These requests for a change can be direct or indirect, externally or internally initiated, and legally or contractually imposed or optional. A Project Manager needs to ensure that only formally documented requested changes are processed and only approved change requests are implemented. It is an output of the report performance process.

This is an example of a three-point estimate. A three-point estimate records the optimistic, most likely, and the pessimistic duration, and then records an average for the predicted duration Three-point estimate is a way to enhance the accuracy of activity duration estimates. This concept is originated with the Program Evaluation and Review Technique (PERT). PERT charts the following three estimates: Most likely (TM): The duration of activity based on realistic factors such as resources assigned, interruptions, etc.

Optimistic (TO): The activity duration based on the best-case scenario

Pessimistic (TP): The activity duration based on the worst-case scenario

The expected (TE) activity duration is a weighted average of these three estimates:

TE = (TO + 4TM + TP) / 6

Duration estimates based on the above equations (sometimes simple average of the three estimates is also used) provide more accuracy. It can be calculated as follows:

TE = ( 20 + 45*4 + 90) / 6

= 290/6

=48

Answer options B, C, and D are incorrect. These are not the valid answers for this question.

A statement of work (SOW) is a document that captures and defines the work activities, deliverables and timeline that a vendor will execute against in performance of work for a customer. Detailed requirements and pricing are usually specified in it, along with many other terms and conditions. SOW is a narrative description of products or services to be supplied by the project. For internal projects, the project initiator or sponsor provides the statement of work based on business needs, product, or service requirements. For external projects, the statement of work can be received from the customer as part of a bid document.

Answer option B is incorrect. Scope of statement gives the narrative description of the project scope.

Answer option A is incorrect. Project charter is a document that formally authorizes a project manager to work on a project.

Answer option D is incorrect. WBS is a tool that defines a project and groups the project discrete work in a way that helps organize and define the total work scope.

Performance reports are distributed through the push technique. This means that the project manager distributes the reports regularly through a mechanism, such as email.

Answer option C is incorrect. One-to-one technique describes a conversation between two people.

Answer option B is incorrect. Many-to-many technique describes a conversation between many people.

Answer option D is incorrect. A pull technique describes the recipients of the report "pulling" the information, such as from a Website.

Contingency reserves are estimated costs to be used at the discretion of the project manager to deal with anticipated, but not certain, events. These events are "known unknowns" and are part of the project scope and cost baselines. The contingency reserve is calculated by multiplying the probability and the impact for the risk event value for each risk event. The sum of the risk events equals the contingency reserve for the project. Note that Risk D is a positive risk amount.

Answer option C is incorrect. This value is the sum of the risk events if you did not include Risk D as a positive risk value.

Answer option A is incorrect. This is a sum of the risk event.

Answer option B is incorrect. This is a sum of the risk events without including Risk D as a positive risk event.

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.

The schedule performance index is earned value divided by planned value. The close the result is to 1, the better the project is performing.

Answer option B is incorrect. This is the cost variance formula.

Answer option C is incorrect. This is the formula to find schedule variance.

Answer option A is incorrect. This is not a valid formula.