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Project Management & Scheduling Flashcards

7 cards from real CEP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. What is the primary purpose of a Schedule Baseline in project management?

    Answer: To serve as the approved version of the schedule for measuring performance

    The schedule baseline is the approved project schedule used as the reference point against which actual performance is measured and reported.

  2. In Earned Value Management, the formula for Estimate at Completion (EAC) when the original estimate is no longer valid is:

    Answer: BAC / CPI

    When the original budget is unreliable, EAC = BAC / CPI, assuming future performance will continue at the current cost efficiency rate.

  3. A three-point estimate uses optimistic (O), most likely (M), and pessimistic (P) durations. What is the PERT formula for expected duration?

    Answer: (O + 4M + P) / 6

    The PERT weighted average formula is (O + 4M + P) / 6, which weights the most likely estimate four times more than the optimistic or pessimistic values.

  4. Which scheduling method links activities using arrows to represent relationships and nodes to represent events, making it an activity-on-arrow network?

    Answer: Arrow Diagramming Method (ADM)

    The Arrow Diagramming Method (ADM) uses arrows for activities and nodes for events, representing only Finish-to-Start dependencies.

  5. In Critical Chain Project Management, buffers are added primarily to protect:

    Answer: The project completion date and feeding paths

    Critical Chain uses project buffers at the end and feeding buffers where non-critical chains feed the critical chain, protecting overall delivery.

  6. Which metric represents the efficiency of the remaining project work and is calculated as (BAC − EV) / (BAC − AC)?

    Answer: To-Complete Performance Index (TCPI)

    TCPI measures the cost efficiency needed for remaining work to meet the BAC, calculated as remaining work divided by remaining budget.

  7. When a project schedule is developed using Monte Carlo simulation, the output is best described as:

    Answer: A probability distribution of possible completion dates

    Monte Carlo simulation runs thousands of iterations using variable activity durations to produce a range of possible project outcomes with associated probabilities.