CAPM CAPM Cost & Schedule Management

Question 1

In Earned Value Management, what does the Schedule Performance Index (SPI) indicate when it is greater than 1.0?

Accepted Answer

The project is ahead of schedule

Answer

The project is over budget

Answer

The project is behind schedule

Answer

The project has completed more work than planned

Question 2

Which cost estimate is typically the most accurate and is prepared from detailed engineering documents and specifications?

Accepted Answer

Definitive (bottom-up) estimate

Answer

Rough order of magnitude (ROM) estimate

Answer

Analogous estimate

Answer

Parametric estimate

Question 3

What is the critical path in a project schedule network?

Accepted Answer

The longest path through the network that determines the project duration

Answer

The sequence of activities with the most resources assigned

Answer

The path with the highest risk activities

Answer

The path with the most tasks completed on time

Question 4

A project has a Cost Performance Index (CPI) of 0.8. What does this indicate?

Accepted Answer

For every $1 spent, only $0.80 of value is being produced

Answer

The project is 80% complete

Answer

The project will finish 20% under budget

Answer

The project has consumed 80% of its budget

Question 5

What is 'float' (also called slack) in project scheduling?

Accepted Answer

The amount of time an activity can be delayed without delaying the project end date

Answer

The amount of budget held in reserve

Answer

The number of resources available for reassignment

Answer

Extra scope added as a buffer for schedule risk

Question 6

Which scheduling technique involves compressing the schedule by adding resources to critical path activities to finish them faster?

Accepted Answer

Crashing

Answer

Fast tracking

Answer

Resource leveling

Answer

Schedule compression