PSP Exam Dumps - Planning & Scheduling Professional (PSP) Exam

ï‚· Understanding Stakeholders:

A stakeholder is any individual, group, or entity that has an interest or is affected by the project's outcome, whether directly or indirectly.

Stakeholders typically include the owner, contractors, subcontractors, suppliers, designers, public agencies, and other entities directly involved in or impacted by the project.

ï‚· Analysis of the Options:

A. ALPHA:

ALPHA appears to be one of the stakeholders involved in the Spring Highway project, likely as a contractor, subcontractor, or project participant.

B. GOUGE:

GOUGE does not appear to be directly associated with the Spring Highway project based on the provided context. It may be a separate entity unrelated to the stakeholders participating in or impacted by the project.

GOUGE is NOT a stakeholder in this project.

C. BILCO:

BILCO is likely involved as a contractor, subcontractor, or another project-related entity with direct involvement in delivering the Spring Highway project.

D. DEVCO:

DEVCO could be the project developer or a significant stakeholder involved in managing, funding, or overseeing the Spring Highway project.

ï‚· Stakeholder Determination:

Based on the definitions and principles of stakeholder analysis in project management, GOUGE is not identified as a party involved in or affected by the project.

Therefore, GOUGE is NOT a stakeholder.

ï‚· Final Answer and Justification:

The correct answer is B. GOUGE, as it is the only option that does not align with the definition of a stakeholder based on involvement in the Spring Highway project.

ï‚· Study Guide Reference:

Refer to the PSP Certification Study Guide, Chapter 1 – Planning, Subchapter 1.1.2: Identification of Stakeholders (p. 23-26), which outlines the roles and impacts of stakeholders in project planning.

Also, refer to AACE Recommended Practice 119R-21: Stakeholder Management in Project Controls, which discusses stakeholder identification and roles.

ï‚· Requirement to Expedite:

To release the product 20 days earlier, critical path activities must be expedited.

Critical path activities: A (Testing), D (Manufacturing), G (Packaging).

ï‚· Excluded Activities:

Activities like drafting (Activity C) or proofing (Activity F) are not critical and do not impact the total project duration.

ï‚· Verification with PSP Guidelines:

PSP guidelines emphasize expediting critical path tasks for schedule acceleration (Ref: PSP Study Guide, Chapter 2B: Schedule Compression Techniques).

ï‚· Time-Scaled Value for Reporting Intervals:

BCWS (Budgeted Cost of Work Scheduled) is plotted over time to represent the planned expenditure at specific intervals.

BCWS provides the basis for schedule and cost performance comparisons.

ï‚· Evaluation of Other Options:

B: BCWP is used to track actual progress.

C: SPI is a ratio, not a time-scaled value.

D: Actual cost of work scheduled is not a standard metric in earned value analysis.

ï‚· Verification with PSP Guidelines:

The PSP Study Guide identifies BCWS as essential for time-scaled earned value analysis (Ref: PSP Study Guide, Chapter 1D: Earned Value Analysis).

ï‚· Understanding the Requirement:

The "normal" schedule duration is 1072 days for Activity 1000 (General Conditions).

Billing occurs at the end of each month for the previous month.

Partial months are included in billing cycles.

ï‚· Total Project Duration in Months:

Total days: 1072.

Convert to months: 107230.44≈35.2\frac{1072}{30.44} \approx 35.230.441072​≈35.2 months.

Include partial months, which adds 1 additional invoice.

ï‚· Total Invoices:

Full months: 35.

Partial months: 7 (assuming each partial month is rounded up to include invoicing).

Total invoices = 35+7=4235 + 7 = 4235+7=42.

ï‚· PSP Principles Cross-Verification:

PSP guidelines emphasize accurate conversion of schedule durations into calendar billing periods for effective cash flow management (Ref: PSP Study Guide, Chapter 2B: Schedule Output and Deliverables).

ï‚· 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.

ï‚· PSP Study Guide References:

The guide covers how calendar assignments influence float calculations and their potential to create disparities in a critical path​.

ï‚· Conclusion: The correct answer is B, as differing total float values typically indicate the use of different calendars for activities in the chain.

ï‚· Shape of Cumulative BCWS:

The Budgeted Cost of Work Scheduled (BCWS) reflects a cumulative expenditure curve over time, typically shaped like an "S".

ï‚· Explanation of the S-Curve:

Initially slow expenditure, acceleration during peak work, and tapering off near completion.

ï‚· Verification with PSP Guidelines:

The PSP Study Guide discusses BCWS as part of earned value management (Ref: PSP Study Guide, Chapter 1D: Earned Value Analysis).

ï‚· Calculation of Total Lifts Required:

3 column pours = 28×3=8428 \times 3 = 8428×3=84.

Additional lifts = 150150150.

Total lifts = 84+150=23484 + 150 = 23484+150=234.

ï‚· Lifts Per Day with One Crane:

1 crane performs 30 lifts per day.

ï‚· Required Duration:

Minimum planned working duration = ⌈234÷30⌉=18\lceil 234 \div 30 \rceil = 18⌈234÷30⌉=18.

ï‚· Verification with PSP Guidelines:

Aligning workload with equipment capacity ensures practical schedule planning (Ref: PSP Study Guide, Chapter 2B: Workload Balancing).