PMT 360 EXAM 4 QUESTIONS WITH VERIFIED
ACCURATE ANSWERS
What is Earned Value Management (EVM)? - Answers - An integration process in the
management and oversight of acquisition programs, to include information technology
project. A management approach to ensure the total integration of cost, schedule, and
work scope aspects of the program.
Budgeted Cost of Work Scheduled (BCWS)? - Answers - Represents the value of work
planned to be accomplished. It equates to the Performance Measurement Baseline
(PMB), the timed-phased budget plan against which contract performance will be
measured.
Budgeted Cost of Work Performed (BCWP)? - Answers - Earned Value-represents the
value of the work accomplished in relation to the PMB.
Actual Cost of Work Performed (ACWP)? - Answers - Actual cost of work accomplished.
Cost Variance (CV)? - Answers - BCWP-ACWP
Schedule Variance (SV)? - Answers - BCWP-BCWS
Cost Performance Index (CPI)? - Answers - BCWP/ACWP
Schedule Performance Index (SPI)? - Answers - BCWP/BCWS
Estimate at Completion (EAC)? - Answers - Actuals to date + (Remaining
Work/Efficiency Factor)
Cumulative CPI (CPIcum)? - Answers - Tends to be the optimistic estimate
Composite (CPIcum x SPIcum) - Answers - Tends to be the pessimistic estimate;
weights cost and schedule equally
Three period (month) CPI shows? - Answers - Most current cost performance
Six period (month) CPI shows? - Answers - Longer timeframe for cost performance -
may be more accurate (or less accurate) depending on the trends.
Total Allocated Budget (TAB)=? - Answers - BAC + Management Reserve
If the contractor will NOT use all available Management Reserve (MR) - Answers -
, Actuals to Date=? - Answers - ACWPcum
Work remaining= - Answers - BAC-BCWPcum
Alternative approach for computing EAC: If assuming that the contractor will NOT use
all available MR compute EAC using _ formula? - Answers - EAC=ACWPcum + BAC-
BCWPcum/"Efficiency Factor"
Alternative approach for computing EAC: If assuming that the contractor WILL use all
available MR compute EAC using _ formula? - Answers - EAC=ACWPcum + TAB-
BCWPcum/"Efficiency Factor"
Is Management Reserve (MR) part of the PMB? - Answers - No, not until it is used.
When do you conduct IBR? - Answers - Within 6 months of contract award.
What is identified and quantified at the IBR? - Answers - Cost, schedule, & technical risk
CPI and SPI will represent a -cum index when? - Answers - < .95
Baseline Execution Index (BEI)=? - Answers - The # of baseline tasks actually
completed/#baseline tasks scheduled for completion
Critical Path Length Index (CPLI) of PMB=? - Answers - Critical path duration + float
duration/critical path duration
Forward Pass determines? - Answers - Earliest finish time (EFT)/dates for each activity
Critical path? - Answers - The path with the longest total duration
Backward pass determines? - Answers - The latest finish time (LFT)/date for each
activity
Float is? - Answers - Amount of time an activity can be delayed or expanded before it
impacts the project finish time (LFT-EFT=Float)
Technical Reviews are? - Answers - Detailed reviews conducted between the PMO and
contractor personnel to assist the PM and contractor in assessing technical progress of
the program
Technical assessment activities do what? - Answers - Measure technical progress and
assess both program plan and requirements
Technical assessment activities include? - Answers - Technical Reviews, TPMs, RM,
EVM
ACCURATE ANSWERS
What is Earned Value Management (EVM)? - Answers - An integration process in the
management and oversight of acquisition programs, to include information technology
project. A management approach to ensure the total integration of cost, schedule, and
work scope aspects of the program.
Budgeted Cost of Work Scheduled (BCWS)? - Answers - Represents the value of work
planned to be accomplished. It equates to the Performance Measurement Baseline
(PMB), the timed-phased budget plan against which contract performance will be
measured.
Budgeted Cost of Work Performed (BCWP)? - Answers - Earned Value-represents the
value of the work accomplished in relation to the PMB.
Actual Cost of Work Performed (ACWP)? - Answers - Actual cost of work accomplished.
Cost Variance (CV)? - Answers - BCWP-ACWP
Schedule Variance (SV)? - Answers - BCWP-BCWS
Cost Performance Index (CPI)? - Answers - BCWP/ACWP
Schedule Performance Index (SPI)? - Answers - BCWP/BCWS
Estimate at Completion (EAC)? - Answers - Actuals to date + (Remaining
Work/Efficiency Factor)
Cumulative CPI (CPIcum)? - Answers - Tends to be the optimistic estimate
Composite (CPIcum x SPIcum) - Answers - Tends to be the pessimistic estimate;
weights cost and schedule equally
Three period (month) CPI shows? - Answers - Most current cost performance
Six period (month) CPI shows? - Answers - Longer timeframe for cost performance -
may be more accurate (or less accurate) depending on the trends.
Total Allocated Budget (TAB)=? - Answers - BAC + Management Reserve
If the contractor will NOT use all available Management Reserve (MR) - Answers -
, Actuals to Date=? - Answers - ACWPcum
Work remaining= - Answers - BAC-BCWPcum
Alternative approach for computing EAC: If assuming that the contractor will NOT use
all available MR compute EAC using _ formula? - Answers - EAC=ACWPcum + BAC-
BCWPcum/"Efficiency Factor"
Alternative approach for computing EAC: If assuming that the contractor WILL use all
available MR compute EAC using _ formula? - Answers - EAC=ACWPcum + TAB-
BCWPcum/"Efficiency Factor"
Is Management Reserve (MR) part of the PMB? - Answers - No, not until it is used.
When do you conduct IBR? - Answers - Within 6 months of contract award.
What is identified and quantified at the IBR? - Answers - Cost, schedule, & technical risk
CPI and SPI will represent a -cum index when? - Answers - < .95
Baseline Execution Index (BEI)=? - Answers - The # of baseline tasks actually
completed/#baseline tasks scheduled for completion
Critical Path Length Index (CPLI) of PMB=? - Answers - Critical path duration + float
duration/critical path duration
Forward Pass determines? - Answers - Earliest finish time (EFT)/dates for each activity
Critical path? - Answers - The path with the longest total duration
Backward pass determines? - Answers - The latest finish time (LFT)/date for each
activity
Float is? - Answers - Amount of time an activity can be delayed or expanded before it
impacts the project finish time (LFT-EFT=Float)
Technical Reviews are? - Answers - Detailed reviews conducted between the PMO and
contractor personnel to assist the PM and contractor in assessing technical progress of
the program
Technical assessment activities do what? - Answers - Measure technical progress and
assess both program plan and requirements
Technical assessment activities include? - Answers - Technical Reviews, TPMs, RM,
EVM
