You are the project manager of the NHQ Project. Management has set a conformance to the project schedule for your project at 0.95. What does this term mean?
Correct Answer:A
Conformance to schedule is a required adherence for the project's schedule. In this instance, the project manager must not allow the schedule to slip more than five percent. Answer option B is incorrect. This is the description of the schedule performance index. Answer option D is incorrect. This is the description of the cost performance index. Answer option C is incorrect. This is not a valid statement about the project performance.
You are the project manager for the GHY Project. This project has stakeholders, both internal and external, that need to receive performance reports from you on a regular basis.
You have decided that in addition to emailing the weekly performance report, you will also keep the performance reports available on your secured project management Website. The Website is an example of what type of communication reporting?
Correct Answer:A
A Website is an example of a pull communication. This means the information is available, but the reader must go to the source and retrieve the information. Pull communication is defined by what the reader wants and what interests he has in retrieving the information. In other words, the information is available, but the reader must go to the source and retrieve the information. This type of communication is used by advertising agencies to draw clients into retail establishments to receive messages. Customers decide on when and how they will act on the messages in the pull model of communications. Some virtual examples of pull communication are:
Blogs Wikipedia Websites
Answer option D is incorrect. This does not describe the communication model or how information is distributed.
Answer option C is incorrect. Passive communication is a not a project management term to describe communications.
Answer option B is incorrect. Push communication describes the process of delivering the communication to the recipients, such as through email.
You are the project manager of the GHY Project. This project is scheduled to last for one year and has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are supposed to be at your second milestone, which accounts for half of the project completion. There have been some errors in the project, which has caused you to spend $2,073,654. Based on the budget at completion, what is this project's to-complete performance index?
Correct Answer:D
The to-complete performance index shows the likelihood of reaching the project objectives based on the current performance. The formula is (BAC-EV)/(BAC-AC) for a result of 1.02. The higher the value over 1 the less likely the project is to reach its objectives based on the current performance.To-complete Performance Index (TCPI) is the measured projection of the anticipated performance required to achieve either the BAC or the EAC. TCPI indicates the future required cost efficiency needed to achieve a target EAC (Estimate At Complete).Once approved, the EAC supersedes the BAC as the cost performance goal. Any significant difference between TCPI and the CPI needed to meet the EAC should be accounted for by management in their forecast of the final cost. The formula for TCPI is as follows:
TCPI = {(BAC-EV)/(BAC-AC)}
Answer option B is incorrect. This is the cost performance index for this project. Answer option A is incorrect. This is the expected variance at completion. Answer option C is incorrect. This is not a valid answer for this question.
Gary is the project manager of the GHY project. He has elected to use a previous, but similar, project to guide him and the project team through the estimate activity duration process. The previous project schedule could best described as which one of the following?
Correct Answer:A
This is an example of an organizational process asset. The previous project is the historical information that the current project can use. This could also be, with a bit more information, an example of an analogous estimate. Organizational process assets are forms, templates, and other support pieces that the project managers can use to help manage their projects. It is usually something that has been created before the project begins and often, but not always, comes from historical information.
Answer option D is incorrect. This is not a valid term for this question.
Answer option B is incorrect. The lessons learned documentation is a separate document that Gary might reference for his current project, but this is not a valid choice.
Answer option C is incorrect. While organizational process assets are inputs to this process, this choice is not the best selection for the question.
Your project team has identified a project risk that must be responded to. The risk has been recorded in the risk register and the project team has been discussing potential risk responses for the risk event. The event is not likely to happen for several months but the probability of the event is high. Which one of the following is a valid response to the identified risk event?
Correct Answer:D
Corrective actions include contingency plans and workaround plans, which are valid risk responses.
Answer option B is incorrect. The technical performance measurement may be part of the analysis of the risk, but not part of the response.
Answer option A is incorrect. A risk audit may be appropriate once the risk event and response has been identified.
Answer option C is incorrect. The impact of the risk event may affect earned value management calculations, but EVM in and of itself is not a valid risk response.