PMP Questions ID 1715 variance analysis refers to cost performance measurements used to determine the magnitude of vari

Variance analysis refers to cost performance measurements used to determine the magnitude of variation in comparison to the original cost baseline. What is the trend on the percentage range of acceptable variances as the project progresses?

Select one

The percentage range of acceptable variances will tend to decrease first and then increase as the project progresses beyond 50 percent completion.

The percentage range of acceptable variances remain the same as the project progresses.

The percentage range of acceptable variances will tend to decrease as the project progresses.

The percentage range of acceptable variances will tend to increase as the project progresses.

A project uses rounding of activity cost estimates data to the nearest $100, uses staff hours as the unit of measure for resources, and has a variance threshold of 10 percent deviation from the baseline plan. These approaches are typically documented in the:

20 percent of the work was completed in a project. At this stage, the project manager determined that the budget at completion (BAC) was no longer viable and developed a forecasted estimate at completion (EAC). What index can the project manager use to look at the calculated projection of cost performance that must be achieved on the remaining work?

Select one

Schedule Performance Index (SPI)

Cost Performance Index (CPI)

Cost Variance (CV)

To-Complete Performance Index (TCPI)

Select one

Contingency reserves are not part of the project cost baseline.

Management reserves are not part of the project cost baseline.

The project manager needs to get approval before spending management reserve.

Reserves are usually included in the total budget of a project.

You are the project manager for Wicked Fast Cars Corp. You are working on a project for the Human Resources department that is scheduled to take one year. After three months into the project, you calculate the EV at $35,000 and the PV at $45,000. Which option below represents the value for the SV?

New PMP Question & Answers with explanation