Earned Value Analysis for Project Management Institute ExamsThis option includes practice questions similar to those found on the Project Management Institute’s (PMI) certification exams. Unlike the e
Module 5, Critical Thinking
Option #1: Earned Value Analysis for Project Management Institute Exams
Given a project with the following characteristics, answer the following questions:
You are the project manager of a project to upgrade the generators at cell phone towers.
Your project is scheduled to last for 12 months.
It is the beginning of month 4.
Your crews are to upgrade 8 cell phone towers per month for 12 months.
Each generator is planned to cost $40,000 which includes equipment, labor, and fueling costs.
You have upgraded 30 cell phone towers and your CPI is 0.96.
How is the project performing?
Over budget and ahead of schedule
Under budget and ahead of schedule
Over budget and behind schedule
Under budget and behind schedule
What is your reasoning? ________________________________________________________
Right now, what is the actual cost of the project?
$1,800,000
$975,000
$1,250,000
$2,225,000
What is your reasoning? ________________________________________________________
Assuming that the cost variance is constant, how much more money will it take to complete the project?
$2,500,000
$2,750,000
$2,800,000
$3,000,000
What is your reasoning? ________________________________________________________
What is the project’s estimated cost at completion if the variance experienced to this point stopped?
$2,800,000
$2,875,000
$3,890,000
$3,750,000
What is your reasoning? ________________________________________________________
Using the project’s budget at completion, what is the project’s TCPI?
.5
1.5
1.02
What is your reasoning? ________________________________________________________
When you give an update to senior management today, what percentage of the project will you report complete?
37%
31%
40%
28%
What is your reasoning? ________________________________________________________
You are managing a training project with an initial budget estimate of $5,000. During interim cost and schedule performance analysis, you figured out that:
You should have spent $750 till now based on your initial plans and 6 days of schedule activities.
You spent $1,000 till now and completed 8 days of schedule activities which should have cost $1,160 based on your initial plans.
You re-estimated the budget required for the remaining work to be done as $4,500.
What are the CPI and SPI of the project?
CPI=0.9 and SPI=1.2
CPI=0.75 and SPI=0.9
CPI=1.16 and SPI=1.55
CPI=1.55 and SPI=0.75
What is your reasoning? ________________________________________________________
What can be inferred about the current status of the project represented by the following graph?
under budget and ahead of schedule
over budget and ahead of schedule
under budget and behind schedule
over budget and behind schedule
What is your reasoning? ________________________________________________________
A project has an original project budget of $1,150 and both the Cost Performance Index (CPI) and Schedule Performance Index (SPI) are equal to 1. Assuming the project will continue to spend money at the same rate, what is the estimate at completion (EAC) of the project?
$1,000
$1,250
$1,150
$1,033
What is your reasoning? ________________________________________________________
A project has an Earned Value (EV) = $5, Actual Cost (AC) = $7 and both Cost Performance Index (CPI) and Schedule Performance Index (SPI) equal 0.90. The original project budget is $10. Assuming the remaining work will be impacted by the current cost performance and current schedule performance, what is the estimate at completion (EAC) of the project?
$12.96
$13.17
$14.75
$15
What is your reasoning? ________________________________________________________
