New PMP Question & Answers with explanation
The Budget at Completion (BAC) for a project is $50,000. The Actual Costs (AC) to date are $10,000. The Earned Value (EV) is $7,000. At this stage, the project management team did a manual bottom-up summation of costs and forecast an Estimate to Complete (ETC) of $50,000. What is the Estimate at Completion (EAC) for the project?
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As part of earned value management (EVM), a project manager is calculating the to-complete performance index (TCPI) based on EAC. The data he has is as follows: The budget at completion for the project is $100,000. The earned value for the project is $25,000. The actual costs to date are $40,000, and the estimate at completion is $115,000. What is the TCPI that he will get?
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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?
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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:
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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?
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