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Total 326 questions
PMI Scheduling Professional PMI-SP Exam Practice Test
Question 1
What schedule analysis simulation tool allows you, the project manager, to review possible combinations of events such as optimistic, most likely and pessimistic outcomes for your project?
Answer : B
The Monte Carlo simulation tool allows a project manager to explore 'what-if' analysis
for the project schedule and possible combinations of
events in the project.
Monte Carlo simulation is a process for iteratively evaluating a deterministic form using sets of
random numbers as inputs. This method is
repeatedly used when the model is complex, nonlinear, or involves more than just a couple of vague
parameters. Monte Carlo simulation is
named after the city in Monaco, where the major attractions are casinos that have games of chance.
Gambling games, such as roulette, dice,
and slot machines, exhibit random behavior. This technique works particularly well when the
process is one where the underlying probabilities
are known but the results are more difficult to determine. It is a process that generates hundreds or
thousands of probable performance
outcomes based on probability distribution for cost and schedule on individual tasks. The outcomes
are then used to generate a probability
distribution for the project as a whole.
Answer option D is incorrect. GERT is the Graphical Evaluation Review Technique and is a visual
mapping of the project work including
branches and loop backs within the project.
Answer option A is incorrect. PERT is the Program Evaluation and Review Technique and is used for
project scheduling and time estimating.
Answer option C is incorrect. PMIS is a project management information system, such as Microsoft
Project, and often includes what-if analysis
tools, but it's not the best answer for this question.
Question 2
You are the project manager for the NGH project. The figure given below represents the small
project you are completing for your organization.
How much float can you use on Activity G if Activity B actually takes eight days to complete?
Answer : D
If Activity B uses seven days of float, which it can, it does not allow Activity D, G, or J to
have any float available. This is because the total
duration of path ABDGJK cannot exceed 30 days, the duration of the project. If Activity B uses the
seven days of float, then the path meets
the project's duration at Day 30.
Answer options B and A are incorrect. These are not the valid calculation.
Answer option C is incorrect. Seven represents the amount of float available on Activity G before
Activity B uses the available float.
Question 3
You work as a project manager for BlueWell Inc. Management has asked you not to communicate performance unless the CPI is less than 0.96 or the SPI dips below 0.98. What type of report would you create for management, if these instances develop in your project?
Answer : B
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 a out 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.
Question 4
You are the project manager of a project that has a budget of $875,000 and you have completed 40 percent of the project work. Due to some errors, however, you have actually spent $425,000 of the budget. Management wants to know what the project's cost performance index is. What value do you report?
Answer : C
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 instance it's
$350,000 divided by $425,000 for a CPI
of .82.
Answer option B is incorrect. $350,000 is the earned value of the project.
Answer option A is incorrect. -$75,000 is the cost variance for the project.
Answer option D is incorrect. -$187,500 is the predicted variance at the completion of the project.
Question 5
You are the project manager of the JKM Project for your organization. Your project is supposed to be 60 percent complete but you are only 45 percent complete. The project has an assigned budget of $765,000 but you have already spent $365,000 to reach this point in the project due to some errors and rework. Management is pressing you on when you'll complete the project and how much the project will likely cost based on the current performance. You need to tell management what the project's current cost performance index (CPI) is. What value should you report to management based on your project's performance?
Answer : B
Management wants to know the cost performance index (CPI). You can find the CPI by first finding
the earned value (EV) and then dividing it by the actual costs (AC) spent to date on the project. You
find EV by multiplying percent complete by the project's budget; in this instance that's $344,250. The
actual costs are reported as $365,000. The formula for the CPI on this project is $344,250 / $365,000
for a value of .94.
What is CPI?
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.
What is BCWP (or EV)?
Budgeted cost of work performed (BCWP) or Earned Value (EV) is the value of completed work. It is
the budgeted amount for the work actually completed on the schedule activity during a given time
period.
Answer options C, A, and D are incorrect. These do not reflect an accurate value for the project's
cost performance index. The project is performing moderately well on cost as the closer the CPI is to
1 the better the project's performance.
Question 6
You are the project manager for your company. You are working with the management regarding the exact end date of your project. Management needs to know what day of the week your project will complete. Assuming that your project will not require any work to be completed over the upcoming weekends and that the remaining project work will commence on a Tuesday, what day of the week will the project end if there are 67 days of project work left to complete?
Answer : A
The project will end on a Wednesday. If the project work commences on a Tuesday, there will be four days to complete in that week. That will bring the project work down to 63 days of remaining work. Each work week counts as five days of work. 63 divided by 5 is 12 work weeks with three days remaining. The 63rd remaining day will complete on a Wednesday. Answer options C, D, and B are incorrect. These are not the valid answers.
Question 7
You are the project manager of the NDF project. You need to determine how often a complete project report can be made, including forecasted project completion information for your project. How often should the report be created?
Answer : C
Performance reports should be created regularly or on an exception basis.
A performance report tracks the performance of the program/project team members. A template
can be created that tracks performance, such as work results, schedule, costs, and other factors. The
performance report must include both the positive and negative performance for the staff.
Answer option A is incorrect. Weekly may be appropriate for many projects, but it does not include
the opportunity to create a report by exception.
Answer option D is incorrect. Regular reporting is also needed or at least, an option for the project
manager. Answer option B is incorrect. This is not a valid answer as milestones will vary per project
and does not offer an opportunity for exceptions reporting.
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