PMI PMI-SP Online Practice Questions and Exam Preparation

PMI PMI-SP Online Questions & Answers

• Question 321:

  George is the project manager of the NHQ Project and has a budget of $778,000. The project is scheduled to last for one year with an equal amount of work completed each quarter. The second quarter of the project has ended and George has spent $325,000 but has only finished forty percent of the project. Management needs a variance report for the project schedule. What value should George report in this instance?

  A. .96
  B. -$77,800
  C. $-34,500
  D. -$13,800
  B. -$77,800

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  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. The earned value in this instance is forty percent of the project budget, $778,000, and the planned value is $398,000 because George is to be fifty percent done at the end of the second quarter, as the work is spread evenly across all quarters. The schedule variance is -$77,800 for the project. Answer option A is incorrect. .96 represents the cost performance index. Answer option C is incorrect. -$34,500 represents the project's variance at completion if the project continues as is. Answer option D is incorrect. -$13,800 is the cost variance for the project.

• Question 322:

  You are the project manager for your organization. You are working with your project team to create activity duration estimates using the PERT method. What is the formula for PERT?

  A. (O+ML+P)
  B. (O+(6M)+P)6
  C. (O+ML+P)/3
  D. (O+(4M)+P)/6
  D. (O+(4M)+P)/6

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  PERT, which means the Program Evaluation and Review Technique, is a duration estimating technique that uses the formula (O+(4M)+P)/6 for the optimistic, most likely, and pessimistic values for each work package. A PERT chart is a project management tool used to schedule, organize, and coordinate tasks within a project. PERT stands for Program Evaluation Review Technique, a methodology developed by the U.S. Navy in the 1950s to manage the Polaris submarine missile program. A PERT chart presents a graphic illustration of a project as a network diagram consisting of numbered nodes (either circles or rectangles) representing events, or milestones in the project linked by labeled vectors (directional lines) representing tasks in the project. The direction of the arrows on the lines indicates the sequence of tasks. Answer option C is incorrect. This is the formula for the three-point estimate. Answer options A and B are incorrect. These are not the valid formulas.

• Question 323:

  You are the project manager for your organization. You and the project team are developing the project schedule for your current project. This project management process will create four outputs. Which of the following is an output of the Develop Schedule process?

  A. Work performance information
  B. Schedule baseline
  C. Resource calendars
  D. Activity duration estimates
  B. Schedule baseline

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  The schedule baseline is the only output of the develop schedule process among these answers. The three other outputs of the Develop Schedule Process are: project schedule, schedule data, and project document updates.

  Answer option D is incorrect. Activity duration estimates are an output of the Estimate Activity Duration process.

  Answer option A is incorrect. Work performance information is an input of the Control Schedule process. Answer option C is incorrect. Resource calendars are an input to the Develop Schedule process.