INF3708 - SOFTWARE PROJECT MANAGEMENT EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED

INF3708 - SOFTWARE PROJECT MANAGEMENT EXAM

QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS

VERIFIED


What is Earned Value (EV) and its formula:

Earned Value (EV) is the total value credited to the project at anytime



EV = % of work completed x PV

What is Schedule Variance (SV) and its formula

, also what does a negative or positive SV indicate:

Schedule Variance (SV) is an indicator as to whether the project schedule is behind or

ahead.



SV = EV - PV



Negative SV indicates => project behind schedule

Positive SV indicates => project is ahead of schedule

What is Cost Variance (CV) and its formula

, also what does a negative or positive CV indicate:

Cost Variance (CV) is used to indicate the degree to which the value of completed work

differs from the planned.

, CV = EV - AC



Negative CV indicates => project over budget

Positive CV indicates => project under budget

What is Schedule Performance Index (SPI) and its formula

, also what does a value lesser or greater than 1 indicate:

Schedule Performance Index (SPI) is a measure of how close a project is to being

completed.



SPI = EV / PV



Value < 1 = its behind schedule

Value > 1 = completed better than planned

What is Cost Performance Index (CPI) and its formula

, also what does a value lesser or equal to 1 indicate:

Cost Performance Index (CPI) is a measure of financial effectiveness and efficiency.



CPI = EV / AC



Value < 1 = its over budget

Value = 1 = project is on budget

Value > 1 = project is performing well against budget

Distinguish between Expert Judgement and Analogy