QUESTION: 77

You are the project manager of the NHQ project. This project deals with a new technology that your company has never used before. You have petitioned the management to hire a consultant to help you and the project team to create the WBS, the activity list, and complete the duration estimates. The management is concerned about the costs of the consultant, but agrees to your request because of the nature of this new work. The consultant can best be described as what type of resource for this project?

Direct expense
External requirement
Temporary resource
Expert judgment

Answer(s): D

Explanation:

The consultant is an example of expert judgment, as he is helping you and the project team to create the project elements. Expert judgment is a technique based on a set of criteria that has been acquired in a specific knowledge area or product area. It is obtained when the project manager or project team requires specialized knowledge that they do not possess. Expert judgment involves people most familiar with the work of creating estimates. Preferably, the project team member who will be doing the task should complete the estimates. Expert judgment is applied when performing administrative closure activities, and experts should ensure the project or phase closure is performed to the appropriate standards.
Answer option A is incorrect. The consultant may be considered a direct expense because the fees can only be assigned to your project work, but this is not the best choice for the question.
Answer option B is incorrect. An external requirement is not a valid choice for this question.
Answer option C is incorrect. A temporary resource is not a valid project management term.

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QUESTION: 78

Holly is the project manager for her organization. In her project, she has worked with the project team to define when the project team will be utilized in the project, the duration of the project activities, and the sequence in which the project work must be completed. During several phases of her project, the project team will need to work more than fifty hours per week. The project team members have agreed this is necessary and they're willing to do the work to complete the project. Management, however, has not approved Holly's schedule based on the overtime the scheduling will require. They have set a limit on the project schedule of 45 hours per week.
What is this limit technically called? Each correct answer represents a complete solution. Choose all that apply.

Constraint
Assumption
Execution variance analysis
Resource leveling heuristic

Answer(s): A,D

Explanation:

Resource leveling is a rule of limiting the total number of hours a project team may work during a given time period in the project. If management restricts the project work to 45 per week, as in this example, Holly's schedule will likely increase because the project team can't complete as much work in one given time period.While this may be seen as a constraint, because it limits Holly's options, it's technically called a resource leveling heuristic.
Answer option B is incorrect. It is an assumption that's believed to be true, but it hasn't been proven to be true.
Answer option C is incorrect. Execution variance analysis describes the difference between what was planned and what was executed. A better term for this experience would simply be a scope variance, scope change, or defect.

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QUESTION: 79

You are the project manager of a project that has a budget of $675,000 and you have completed 40 percent of the project work. Your project is supposed to be 60 percent complete but you are actually only 40 percent complete. Due to some errors, however, you have actually spent $335,000 of the budget. Management wants to know what the project's cost performance index (CPI) is.
What value do you report?

-$135,000
.67
.81
-$65,000

Answer(s): C

Explanation:

Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. In this instances it is $270,000 divided by $335,000 for a CPI of .81.
Answer option B is incorrect. .67 is actually the schedule performance index.
Answer option D is incorrect. -$65,000 is the cost variance for the project.
Answer option A is incorrect. -$135,000 is the schedule variance of the project.

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QUESTION: 80

Amy is working on a project which is forty percent complete though it was scheduled to be fifty percent complete as of today. Management has asked Amy to report on the schedule variance for her project. If Amy's project has a BAC of $750,000 and she has spent $485,000 to date, what is the schedule variance value?

-$75,000
-$42,000
-$45,000
-$65,000

Answer(s): A

Explanation:

The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BAC. Planned value is the percentage of where the project should be at this time multiplied by the BAC. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula: SV = Earned Value (EV) - Planned Value (PV) If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target.
In this example, EV = 40% of BAC = 300,000, and PV = 50% of BAC = 375,000 SV = 300,000 - 375,000 = -75,000
Answer options C, B, and D are incorrect. These are not the correct values for the schedule variance.

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