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AACE International AACE-PSP Exam Prep
Planning & Scheduling Professional (PSP) (Page 14 )

Updated On: 24-Aug-2026
Page 5 of 28
PDF with 216 Questions

An earned value-based project control system can use either of which two budgets as the basis of its calculations?

  1. Labor hours or dollars.
  2. Direct or indirect cost.
  3. Earned or budgeted cost yearly.
  4. Linear feet or dollars.

Answer(s): A

Explanation:

An earned value management (EVM) system can base its calculations on labor hours or monetary values, depending on the nature of the project. Both methods are valid for tracking performance and forecasting outcomes.
Option B (direct or indirect cost) does not align with EVM's focus on performance metrics.
Option C confuses timeframes with budgeting principles.
Option D (linear feet or dollars) applies to physical progress tracking but not directly to EVM systems.
This is consistent with EVM principles as outlined in project control methodologies within the PSP materials.



Which letter of the alphabet best approximates the graphical shape of a project's cumulative cost baseline, or budgeted cost of work scheduled?

  1. C.
  3. S.
  4. W.

Answer(s): C

Explanation:

The cumulative cost baseline typically forms an "S" curve, reflecting slow initial expenditures, accelerating progress during peak activities, and tapering off as the project concludes.
Option A, B, and D do not represent the characteristic shape of a project's cost curve.
The PSP Study Guide highlights the "S" curve as a standard graphical representation of cumulative project costs over time.



Under which circumstance should one perform resource-leveling calculations?

  1. When the contract contains a provision for float-banking.
  2. When you believe that known resource limitations may override schedule logic.
  3. Never, unless required by the contract.
  4. When the schedule is resource-loaded.

Answer(s): B

Explanation:

Resource-leveling is used when resource constraints such as labor, materials, or equipment availability might prevent schedule logic from being followed.
Option A references float-banking, unrelated to resource leveling.
Option C suggests never performing leveling unless required, which overlooks the need to address actual resource limitations.
Option D is incorrect as a resource-loaded schedule may still need leveling for optimization.
Resource management principles in the PSP Study Guide discuss when and why to apply resource leveling.



Resource planning must take all of the following into account except for:

  1. Types of materials, equipment and labor skills required to complete the project.
  2. Earned value techniques established for the project.
  3. Time available to complete the project.
  4. Cash flow (expenditure) limitations for completing work on the project.

Answer(s): B

Explanation:

Resource planning focuses on identifying and allocating the required materials, equipment, labor, and financial resources.
Option A, C, and D are integral to resource planning.
Option B (earned value techniques) is a project control mechanism, not a resource planning factor.
This is consistent with the scope of resource planning as described in the PSP Study Gu



When resource leveling craft labor for a critical path schedule, the scheduler

  1. Must consider breaks in continuity of work for subcontractors, thereby possibly incurring additional subcontractor mobilization and demobilization costs.
  2. Can depend on the results of the resource leveling operation to reflect a useful realignment of all schedule activities without 'further analysis.
  3. Need not consider its effects, as it is a theoretical concept with limited application to construction projects.
  4. Need only consider the non-union crafts persons.

Answer(s): A

Explanation:

Resource Leveling:
Resource leveling adjusts start and finish dates of activities to resolve resource conflicts or constraints, balancing availability and demand.
In construction projects, breaks in continuity of work for subcontractors can result in increased costs due to remobilization and demobilization.
PSP Study Guide Reference:
The PSP guide explains that resource leveling must be carefully analyzed to avoid disruptions in work continuity.
Conclusion: The correct answer is A, as the scheduler must account for potential cost implications of resource leveling on subcontractors.



Project delays are best analyzed

  1. After either the contractor or the owner acknowledges ^responsibility for the delay.
  2. Contemporaneously with the delay.
  3. By an expert after the project is finished when complete records are available and the impact is known.
  4. Late in the project.

Answer(s): B

Explanation:

Delay Analysis:
Analyzing delays contemporaneously ensures accurate understanding of their causes and effects, helping stakeholders mitigate impacts in real time.
Waiting until after the project introduces risks of incomplete or inaccurate records.
PSP Study Guide Reference:
Contemporary delay analysis is highlighted as a best practice for effective delay resolution and management.
Conclusion: The correct answer is B, as contemporaneous analysis is the most effective way to address project delays.



All the following describe the critical path of a schedule EXCEPT:

  1. Determined by network logic and is the chain of activities that controls the overall project completion time.
  2. Frequently defined as the shortest path through the schedule.
  3. Changed by redefining the network logic or changing activity durations or both.
  4. The series of activities having the least amount of total float.

Answer(s): B

Explanation:

Critical Path Characteristics:
The critical path is the longest path through the network, defining the minimum project completion time. It cannot be the shortest path.
PSP Study Guide Reference:
Critical path analysis emphasizes that it is determined by network logic and represents the chain of activities controlling the project duration.
Analysis for Selection:
Option A, C, and D: Accurately describe the critical path.
Option B: Incorrect; the critical path is not the shortest path.
Conclusion: The correct answer is B, as the critical path is the longest path, not the shortest.



In analyzing a logical chain of activities in a critical path method (CPM) schedule, what do differing total float values within that chain typically indicate?

  1. The schedule has too much detail to reflect an accurate critical path.
  2. Different calendars are assigned to certain activities in the logical chain.
  3. The schedule is projecting an "early completion".
  4. Certain activities in the critical path have no successors.

Answer(s): B

Explanation:

Impact of Calendars on Total Float:
Differing calendars (e.g., working days, holidays, or shifts) assigned to activities can result in varying total float values within a logical chain.
Total float measures the flexibility of an activity and is calculated based on its calendar and logical dependencies.
PSP Study Guide Reference:
The guide covers how calendar assignments influence float calculations and their potential to create disparities in a critical path.
Conclusion: The correct answer is B, as differing total float values typically indicate the use of different calendars for activities in the chain.



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