PMI PMI-SP - PMI Scheduling Professional

The report performance process is used for gathering and distributing performance information. It consists of status reports, progress measurements, and forecasts. The report performance process contains the periodic collection and analysis of baseline versus actual data to understand and communicate the project progress and performance as well as to forecast the project results.

Answer option A is incorrect. Identify stakeholder process is used to identify all people or organizations impacted by the project and document relevant information regarding their interest, involvement, and impact on project success.

Answer option C is incorrect. Plan communication is the process of determining the project stakeholder information needs and defining a communication approach.

Answer option D is incorrect. Stakeholder analysis is the identification of stakeholder needs, wants and expectations. It involves the documentation, prioritization, and quantification of the needs to help define the project scope. Stakeholders' interests may be positively or negatively affected by execution or completion of the project and they may also exert influence over the project and its deliverables.

The project's schedule performance index (SPI) can be found by using the formula; earned value/planned value. The earned value is the percent of the project completed times the BAC. The planned value is the percentage of where the project should be times the budget at completion. In this instance, the formula reads: $450,000/562500 = 0.80. Schedule performance index (SPI) is the measure of schedule efficiency on a project. It is used in trend analysis to predict future performance. SPI is the ratio of earned value to planned value. The SPI is calculated based on the following formula: SPI = Earned Value (EV) / Planned Value (PV) If the SPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The SPI value of 1 indicates that the project is right on target.

Answer option A is incorrect. This value is the project's Cost Performance Index (CPI).

Answer option D is incorrect. This value is the schedule variance for the project.

Answer option C is incorrect. $562,500 is the planned value for the project.

The application area is defined as a type of project that comprises common components important in such projects, but are not required or present in all projects. The application area is defined in terms of either the product or the type of customer or industry sector.

The only tool and technique for controlling the schedule is a corrective action. You should always report problems to management, the project customers, or key stakeholders as defined in the Communications Management Plan, but you should also always present a solution to the problem. A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are implemented in response to a customer complaint, abnormal levels of internal nonconformity, nonconformities identified during an internal audit or adverse or unstable trends in product and process monitoring such as would be identified by SP

C. It is method of identifying and eliminating the causes of a problem, thus preventing their reappearance. Examples of a corrective action are : Improvements to maintenance schedules Improvements to material handling or storage

Answer option C is incorrect. Trimming the project scope, which is a change request, is not a tool and technique for control the scheduling. It is, however, an output of the control schedule process and is sometimes a valid decision if the project is slipping on schedule performance.

Answer option A is incorrect. Work performance measurements are not a tool and technique for controlling the project schedule.

Answer option D is incorrect. The causes of the variance can help you determine the best action to take, but it is not a tool and technique for schedule control.

Once the project scope statement has been approved, the project manager and the project team should decompose the project scope statement into the WBS.

Answer option A is incorrect. Before the activity list may be created, the WBS is needed. The activity list is based on the work packages identified in the WBS.

Answer option C is incorrect. Creating the risk assessment for the project is part of project planning, but it is not the most appropriate process to complete at this time.

Answer option D is incorrect. Determining the project budget is the process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline. Determining the project budget is a part of project cost management.

Stakeholders are interviewed and can help identify other stakeholders that should be included in the project communications.

Answer option B is incorrect. According to the PMBOK, this is not the best answer.

Answer option A is incorrect. Stakeholders are entered into a stakeholder register, not identified by it.

Answer option C is incorrect. Project customers are stakeholders.

Management is asking Sam to use the judgmental methods to predict how the project will finish on time and cost. The judgmental forecasting method incorporates intuitive judgments, opinions and subjective probability estimates. Some examples of judgmental forecasting are as follows: Composite forecasts Surveys Delphi method Scenario building Technology forecasting Forecast by analogy

Answer option B is incorrect. Time series methods of forecasting use earned value management, moving average, extrapolation, linear prediction, trend estimation, and growth curve.

Answer option D is incorrect. The earned value management method is actually a part of the time series forecasting method.

Answer option C is incorrect. The causal/econometric methods use linear and non-linear regression, autoregressive moving average, and econometrics.

Crashing adds project resources and usually increases costs - though it may also increase some project risks. Crashing is a schedule compression technique to obtain the greatest amount of compression for the least incremental cost. Crashing works for activities where additional resources will shorten the duration. Approving overtime, bringing in additional resources, paying to expedite delivery to activities on the critical path are examples of crashing.

Answer option D is incorrect. Crashing does not always increase project risks.

Answer option C is incorrect. Crashing does not restrict resource utilization - that is resource leveling.

Answer option B is incorrect. This is not a valid definition or description to crashing the project.

To answer this question, you'll first need to calculate the contingency reserve. Contingency reserves are estimated costs to be used at the discretion of the project manager to deal with anticipated, but not certain, events. These events are "known unknowns" and are part of the project scope and cost baselines. The contingency reserve is calculated by multiplying the probability and the impact for the risk event value for each risk event. The sum of the risk events equals the contingency reserve for the project. The sum of the risk events equals the contingency reserve for the project. In this question, the value is $41,700. If Risk D happens, it'll cost the project $35,000. The difference of $35,000 and $41,700 is $6,700.

Answer option A is incorrect. This is the impact of Risk Event

D.

Answer option D is incorrect. $14,000 is the risk event value of Risk Event

D.

Answer option B is incorrect. $41,700 is the amount of the contingency reserve.

This is simply an example of a reporting system. It can be part of the project management information system, but for your examination, the PMBOK acknowledges this tool directly as part of project performance reporting. Reporting system is a tool and technique used for reporting performance. It is a standard means to store, capture, and give out the information to the stakeholders about the project costs, performance, and schedule.

Answer option A is incorrect. The project management information system does more than just communicating the performance. It is a tool to help the project manager plan and monitor the project.

Answer option D is incorrect. The PMBOK does not mention a communications management system.

Answer option B is incorrect. Table reporting is one output of a reporting system, not the entire system.