PMI-SP Percent Practice Questions
The free PMI-SP: PMI Scheduling Professional Practice Test questions that deal with percent, with answers and explanations. The full bank and the timed practice test cover every topic the exam asks about.
Question #2
You are the project manager of the JKM Project for your organization. Your project is supposed to be 60 percent complete but you are only 45 percent complete. The project has an assigned budget of $765,000 but you have already spent $365,000 to reach this point in the project due to some errors and rework. Management is pressing you on when you'll complete the project and how much the project will likely cost based on the current performance. You need to tell management what the project's current cost performance index (CPI) is. What value should you report to management based on your project's performance?
Correct answer: B
Explanation
EV = 45% x $765,000 = $344,250. CPI = EV / AC = $344,250 / $365,000 = 0.94, indicating the project is getting 94 cents of value for every dollar spent.
Question #4
Harry works as a project manager for the NHQ project. His project has a budget of $2,208,456 and is scheduled to last for three years. His project is currently forty percent complete though it should be forty-five percent complete. In order to reach this point of the project, he has spent $725,000. Management needs a performance report regarding the NHQ project. Management is concerned that this project will be over budget upon completion. What is the estimate at completion for this project that Harry will need to report to management?
Correct answer: C
Explanation
The estimate at completion can be calculated by dividing the budget at completion by the cost performance index. Here, CPI =EV/AC = (0.40*2,208,456)/725000 = 1.21846 EAC = BAC/CPI = 2,208,456/1.21846 = 1,812,498 What is Estimate at Completion (EAC)? Estimate at Completion (EAC) is a field that displays the final cost of the project including the actual costs and the forecast of remaining costs based on the cost performance index (CPI) so far. The formula used to calculate this estimate is as follows: ACWP+(BAC-BCWP)/CPI
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