PMI-SP Exam Dumps - PMI Scheduling Professional

The best answer is simply an exception report. An exception report refers and documents the major mistakes, mishaps, and goofs. In other words, it itemizes the important and critically significant piece of documentation that is vital to the proper and effective functioning of a project. It does not document what has gone right, but rather documents what has gone wrong.

Answer option C is incorrect. A performance management report is not a valid project management report.

Answer option A is incorrect. The question is asked about cost and schedule so this answer would not be appropriate for both the cost and the schedule.

Answer option D is incorrect. The question is asked about cost and schedule so this answer would not be appropriate for both the cost and the schedule.

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.

This project is not performing well on schedule, but moderately well on costs. The project's TCPI based on the current BAC is 1.02. 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 D is incorrect. 0.95 is the project's TCPI value based on the estimate at completion.

Answer option C is incorrect. 0.75 is the project's schedule performance index.

Answer option B is incorrect. 0.010 is not a valid calculation.

Ben's project will have 140 more communication channels because of the five additional stakeholders. To solve the question, you will need to find the current stakeholder communication channels first, which is (26*25)/2= 325, and then find the difference of the number of channels for the five additional stakeholders. You can use the formula of N(N-1), where N is the number of stakeholders. In this example, the formula would read: Total number of communication channels that Ben will have next = ((31*30)/2)-((26*25)/2 =140

Answer option D is incorrect. Five is the number of additional stakeholders.

Answer option B is incorrect. 10 is the number of communication channels among just five stakeholders.

Answer option C is incorrect. 325 is the number of current communication channels.

According to the question, you are required to calculate the cost performance index (CPI) of the project. 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. Here, CPI is as follows: CPI = EV / AV = 425/510 = 0.833 As the CPI (0.833) is less than 1, it shows that the schedule performance is below expectation. What is BCWP (or EV)? Budgeted cost of work performed (BCWP) or Earned Value (EV) is the value of completed work. It is the budgeted amount for the work actually completed on the schedule activity during a given time period. What is BCWS (or PV)? Budgeted Cost of Work Scheduled (BCWS) or Planned Value (PV) is the authorized budget assigned to the scheduled work to be accomplished for a schedule activity or Work Breakdown Structure (WBS) component. What is ACWP (or AC)? Actual cost of work performed (ACWP) or Actual Cost (AC) is the total costs actually incurred and recorded in accomplishing work performed during a given time period for a schedule activity. It is the cost of the work to date, including direct and indirect costs. AC is money that has actually been expended to date.

This is an example of a parametric estimate. This estimate type uses a parameter, such as four hours of painting per hotel room, and multiplies this value across the total number of units, such as 1,500 rooms. A parametric estimate is an estimate that uses a parameter to predict the costs of the project, such as cost per network drop or cost per software license. Parametric estimating technique utilizes the statistical relationship that exists between a series of historical data and a particular delineated list of other variables.

Answer option C is incorrect. An analogous estimate type uses a similar project's duration as a basis for the current project's estimate duration.

Answer option B is incorrect. A definitive estimate type accounts for the duration or costs of each work package in the WBS.

Answer option D is incorrect. A bottom-up estimate, also known as a definitive estimate, accounts for the duration or costs of each work package in the WBS.

Of all the choices, Ben should avoid fast tracking, as it allows complete phases of the project to overlap, and this increases project risks. Management wants to avoid risks, so fast tracking would not be helpful. Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope.

Answer option A is incorrect. Crashing adds people and costs but is relatively safe in regard to risks.

Answer option C is incorrect. Critical chain is not a schedule compression technique and would not necessarily help the project get back on schedule.

Answer option D is incorrect. Lead time, similar to fast tracking, can increase project risks; however, fast tracking is more risky than lead time. Lead time allows individual activities to overlap, while fast tracking allows entire project phases to overlap.

The cabinet procurement and delivery must be completed by December 1. By scheduling the activity to finish on December 1 with minus 45 days lead time for procurement, the cabinets will arrive by the needed date.

Answer option A is incorrect. Lead time is always negative time, lag time is positive time. This choice would cause the cabinets to not arrive until 45 days after December 1.

Answer option D is incorrect. This choice would cause the cabinets to arrive on December 15 when the floors are to be installed.

Answer option B is incorrect. This choice is not the best answer because it does not necessarily account for holidays, weekends, or other factors in the project calendar. By scheduling the cabinet for December 1 and working backwards through lead time, the project's PMIS will account for these breaks in the project work.