Fredrick works as a Project Manager for BlueWell Inc. A number of projects are running under his guidance. You, a team leader of a project, inform Fredrick about the performance indexes of your project. The schedule performance index (SPI) of your project is 1.325. What does this figure indicate?
Correct Answer:A
According to the question, the SPI of your project is 1.325. This figure is greater than 1. Hence, it shows that the schedule performance is better than expected. What is SPI? Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI = Earned Value (EV) / Planned Value (PV) If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target.
Answer option C is incorrect. SPI has nothing to do with cost performance.
Answer options B and D are incorrect. An SPI value less than 1 or 0 indicates that the schedule performance is either below expectation or is right on target.
Don is the project manager of the NQP project for his organization. This project is scheduled to last for 18 months and will have several elements of the project that have government regulations. Management is concerned with the regulations and would like Don to report on the activities that will be affected by the regulations. Which of the following documents should Don refer to, for the information on the activities and the regulations?
Correct Answer:C
The activity list and the attributes will contain the information about the activities that interact with the government regulations.
Answer option A is incorrect. The risk management plan communicates how the risks will be identified, analyzed, responded to, and monitored.
Answer option D is incorrect. The risk register is a list of all the risk events for the project. Answer option B is incorrect. The activity list is not a detailed enough answer for this question.
Examine the figure given below.
In this project network diagram, what is the total float for Activity I?
Correct Answer:A
The float for Activity I is three days. The early start for Activity I is Day 17 and the late start for Activity I is Day 20. Therefore, the difference of the early start and the late start reveals the float as three days. It is possible, and acceptable, to use the difference of the early finish and the late finish to find the float, as the value will be the same amount.
Answer options B, D, and C are incorrect. These are not the valid calculation for the total float.
You are the project manager for your organization. Your project will need four electrical engineers for the project though there are no electrical engineers within your department. This scenario is best described as which one of the following terms?
Correct Answer:C
This is an example of a resource requirement. The project needs four electrical engineers even though the resources are not within your department. Your organization could be a matrix structure, or it could hire resources from outside the organization.
Answer option D is incorrect. A resource constraint is evident when the project requires the electrical engineer and she is not available. A requirement, as in this scenario, is simply the identification of the needed resource even if the resource is not available in your department.
Answer option B is incorrect. This is not an example of a risk, unless the resource is constrained by other projects, schedules, or work and may not be available at all when needed.
Answer option A is incorrect. An assumption would be believing the resource is available for the project without confirming the availability of the resource.
Which of the following statements best describes an activity in a project?
Correct Answer:B
An activity is the effort needed to complete a work package. The activities are linked to the work packages in the WBS. An activity is the element of work performed throughout the various stages of a project. It is a group of people, communications, processes, and work items that correspond to a joint effort to achieve a goal. An activity is a way to manage the work collectively with others in any organization. The create WBS process identifies the deliverables at the lowest level in the WBS, called the work package. Project work packages are divided into smaller elements known as activities, which correspond to the work required to complete the work package.
Answer option D is incorrect. This is a definition of all the work that the project team and manager must complete in order to complete the total activity list.
Answer options A and C are incorrect. These are not valid definitions of an activity.