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Exam PMI-SP topic 1 question 9 discussion

Actual exam question from PMI's PMI-SP
Question #: 9
Topic #: 1
[All PMI-SP Questions]

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
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Suggested Answer: B 🗳️
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.
Incorrect Answers:
A: .96 represents the cost performance index.
C: -$34,500 represents the project's variance at completion if the project continues as is.
D: -$13,800 is the cost variance for the project.
by Mopar at Aug. 21, 2019, 8:02 p.m.

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omankoman
3 weeks, 3 days ago
Selected Answer: B
B is right answer.
upvoted 1 times
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Mopar
4 years, 10 months ago
50% of $778,000 is $389,000, not $398,000.00 - please fix the solution explanation.
upvoted 3 times
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