One of your monthly reports claim that your project has a SV of -1000. How would you describe it to your sponsor?
A. The project is behind schedule
B. The project is ahead of schedule
C. Impossible to have a negative SV
D. Not enough information
Answer: A. The project is behind schedule
SV (schedule variance) is simply a measure of how the project is performing in terms of schedule. A positive number is good, ahead of schedule, while a negative number is bad, behind schedule. SV is derived from EV (earned value) minus PV (planned value).
Showing posts with label time. Show all posts
Showing posts with label time. Show all posts
Although you got your project schedule approved prior to starting it, your client just moved the target finish date up two days. In order to finish the project two days earlier, which of the following can you apply?
A. Add two days of lag to the critical path
B. Add two days of lag to a non-critical path
C. Add two days of lead to the critical path
D. Add two days of lead to a non-critical path
Answer: C. Add two days of lead to the critical path
Lag is a forced waiting period and therefore, would push the project out. Adding lead, also known as negative lag, would do the opposite -- overlap related tasks, which is what you will need to do in this example to finish sooner. However, only adding lead to the critical path would affect the end date. Although you can add lead anywhere, putting it on a non-critical path would not allow you to finish any sooner.
A. Add two days of lag to the critical path
B. Add two days of lag to a non-critical path
C. Add two days of lead to the critical path
D. Add two days of lead to a non-critical path
Answer: C. Add two days of lead to the critical path
Lag is a forced waiting period and therefore, would push the project out. Adding lead, also known as negative lag, would do the opposite -- overlap related tasks, which is what you will need to do in this example to finish sooner. However, only adding lead to the critical path would affect the end date. Although you can add lead anywhere, putting it on a non-critical path would not allow you to finish any sooner.
After making a small change to your project schedule, you realize now that you have two critical paths. Therefore, the project:
A. Will cost less
B. Must be modified to allow only one critical path
C. Has increased risk
D. Cannot be accomplished
Answer: C. Has increased risk
A critical path is the longest path (and the shortest amount of time possible) it takes to complete the project. If you have two critical paths, that means you have less flexibility in your schedule. As a result, you have increased risk. You can actually have as many critical paths as necessary but of course, the more you have the riskier the project becomes.
A. Will cost less
B. Must be modified to allow only one critical path
C. Has increased risk
D. Cannot be accomplished
Answer: C. Has increased risk
A critical path is the longest path (and the shortest amount of time possible) it takes to complete the project. If you have two critical paths, that means you have less flexibility in your schedule. As a result, you have increased risk. You can actually have as many critical paths as necessary but of course, the more you have the riskier the project becomes.
Six months into a year long project your CPI is 0.8. However, your SPI is 1.2. This means that the project is:
A. Ahead of schedule and under budget
B. Ahead of schedule and over budget
C. Behind schedule and under budget
D. Behind schedule and over budget
Answer: B. Ahead of schedule and over budget
For both Cost Performance Index (CPI) and Schedule Performance Index (SPI), 1.0 is exactly as planned, over 1.0 is good and under 1.0 is bad. So in this case, the CPI is bad and SPI is good. In this example, the CPI means you are getting $0.80 of value out of every $1 spent (see CPI -- what is it trying to tell me?) while the SPI means you are progressing at 120% (i.e. 20% better than planned) of the baseline.
A. Ahead of schedule and under budget
B. Ahead of schedule and over budget
C. Behind schedule and under budget
D. Behind schedule and over budget
Answer: B. Ahead of schedule and over budget
For both Cost Performance Index (CPI) and Schedule Performance Index (SPI), 1.0 is exactly as planned, over 1.0 is good and under 1.0 is bad. So in this case, the CPI is bad and SPI is good. In this example, the CPI means you are getting $0.80 of value out of every $1 spent (see CPI -- what is it trying to tell me?) while the SPI means you are progressing at 120% (i.e. 20% better than planned) of the baseline.
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