PMI Updated PMI-SP Exam Questions and Answers by reagan

The schedule variance is the earned value minus the planned value. In this instance, it is $938,260-$1,055,543 = -$117,282. 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.

Answer option D is incorrect. This is the cost variance for the project.

Answer option A is incorrect. This is the variance at completion.

Answer option C is incorrect. This is the inverse of the earned value.

The Precedence Diagramming Method uses both predecessors and successors as nodes in the project network diagram. The PDM approach is the most common network diagram approach used.

Answer option C is incorrect. Dependency determination identifies the order of the project work.

Answer option B is incorrect. The schedule network template is a tool that uses a previous project network diagram as a base for the current project network diagram.

Answer option D is incorrect. Activity on the node places activities on circles within a network diagram. It is an example of the precedence diagramming method.

Schedule compression is a tool used as part of the Schedule Development process. The tools and techniques for schedule development are as follows:

Schedule network analysis

Critical path method

Critical chain method

Resource leveling

What-if scenario analysis

Applying leads and lags

Schedule compression

Scheduling tool

Answer options D, B, and C are incorrect. These are not tools and techniques for schedule development.

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 A is incorrect. Lessons learned is a documentation of the errors and how they were resolved, not a method to prevent the errors from occurring again.

Answer option C is incorrect. Preventive action addresses any action or act in which the project management team and the team leader provide documented direction to carry out an activity that is meant to decrease the possibility of negative consequences related to project risk.

Answer option B is incorrect. Risk analysis examines the risk events, its probability, and its impact on the project.