PMP Questions ID 1930 which of the following statements about the planned value the earned value the schedule varianc

Which of the following statements about the planned value, the earned value, the schedule variance, and the cost variance of a project is false?

Select one

The cost variance is the difference between the earned value and the actual cost.

The planned value is the budget authorized for the work to be performed.

The earned value is the value of work to be completed in terms of the approved budget.

The schedule variance is the difference between the earned value and the planned value.

During the course of the project, the project management team developed a forecast for the estimate at completion (EAC) based on the project performance. Which of the following statements about EAC is correct?

Select one

The EAC forecast based on the Bottom-up estimate to complete (ETC) requires a new estimate.

The EAC forecast is best estimated using the estimate to complete (ETC) work performed considering both SPI and CPI factors.

The EAC forecast is best estimated using the estimate to complete (ETC) work performed at the present CPI.

The EAC forecast is best estimated using the estimate to complete (ETC) work performed at the budgeted rate.

Variance Analysis is an important tool used in the Control Costs process. Which of the following statements regarding variances is correct?

Select one

The percentage range of acceptable variances will tend to increase as more work is accomplished.

The percentage range of acceptable variances is high at the start of a project, tends to decrease in the middle of a project, and then tends to increase as the project nears completion.

The percentage range of acceptable variances is a constant all through the project.

The percentage range of acceptable variances will tend to decrease as more work is accomplished.

Rick, a project manager, is updating the status of his project. Based on the performance indices, he expects the project to finish a month earlier than the planned finish date. However, he expects the project to exceed the budgeted costs. What can you say about the schedule performance index (SPI) of the project?

Select one

The SPI is less than 1.0.

The SPI equals the CPI.

The SPI is greater than 1.0.

The SPI is equal to 1.0.

The Actual Cost (AC) is the total cost actually incurred and recorded in accomplishing work performed for an activity or work breakdown structure component. What is the upper limit for the AC?

Select one

100 percent over and above the Planned Value (PV)

50 percent over and above the Planned Value (PV)

The Actual Cost (AC) is limited to the Planned Value (PV).

There is no upper limit for the Actual Cost (AC).

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