PMI-SP PMI Scheduling Professional Questions and Answers

Project scope is the effort that must be required to gather a client's plan, goals for space, purpose, properties, impact, and stage of eminence. Scope management sets the boundaries for the project and is the foundation on which the other project elements are built. Scope management helps to organize the work responsibilities and their requirements for successful completion. Managing the project scope is primarily concerned with defining and controlling what is and what is not included in the project.

PERT, which means the Program Evaluation and Review Technique, is a duration estimating technique that uses the formula (O+(4M)+P)/6 for the optimistic, most likely, and pessimistic values for each work package. A PERT chart is a project management tool used to schedule, organize, and coordinate tasks within a project. PERT stands for Program Evaluation Review Technique, a methodology developed by the U.S. Navy in the 1950s to manage the Polaris submarine missile program. A PERT chart presents a graphic illustration of a project as a network diagram consisting of numbered nodes (either circles or rectangles) representing events, or milestones in the project linked by labeled vectors (directional lines) representing tasks in the project. The direction of the arrows on the lines indicates the sequence of tasks.

Answer option C is incorrect. This is the formula for the three-point estimate.

Answer options A and B are incorrect. These are not the valid formulas.

Activity B is not on the critical path and it has a total of four days of float. If Activity B takes a total of eight days, it will consume three days of float. However, the total duration of the path ABEHJ may not exceed 26 days, as this is the total duration for the project. Although Activity H has a total of four days of float available, the consumption of three days of float on this path will reduce the total float for Activity H to just one day. If Activity H is delayed by more than one day, then the project will be late.

Answer option D is incorrect. There is one day of float still available for Activity H.

Answer options A and C are incorrect. These are not the valid answers, as there is just one day of float available for Activity H.

When Holly adds resources to the project, as in this instance, she will need to update the activity attributes to reflect the new labor. Activity attributes are an output of the Define Activity process. These attributes refer to the multiple components that frame up an activity. The components for each activity during the early stages of the project are the Activity ID, WBS ID, and Activity name. At the later stages, the activity attributes include Activity codes, Predecessor activity, activity description, logical relationship, successor activity, leads and lags, imposed dates, and constraints and assumptions. Activity attributes are used for schedule development and for ordering, selecting, and sorting the planned schedule activities in a number of ways within reports. In project document updates, activity attributes are updated to include any revised resource requirements and other revision generated by the develop schedule process.

This is an example of three-point estimate. A three-point estimate records the optimistic, most likely, and the pessimistic duration and then records an average for the predicted duration Three-point estimate is a way to enhance the accuracy of activity duration estimates. This concept is originated with the Program Evaluation and Review Technique (PERT). PERT charts the following three estimates: Most likely (TM): The duration of activity based on realistic factors such as resources assigned, interruptions, etc. Optimistic (TO): The activity duration based on the best-case scenario Pessimistic (TP): The activity duration based on the worst-case scenario The expected (TE) activity duration is a weighted average of these three estimates: TE = (TO + 4TM + TP) / 6 Duration estimates based on the above equations (sometimes simple average of the three estimates is also used) provide more accuracy. Here, it is, TE = ( 35 + 50*4 + 95) / 6 = 330/6 = 55

Herzberg's Motivation-Hygiene Theory, also known as Two Factor Theory, was developed by Frederick Herzberg, a psychologist who found that job satisfaction and job dissatisfaction acted independently of each other. Two Factor Theory states that there are certain factors in the workplace that cause job satisfaction, while a separate set of factors cause dissatisfaction. Two Factor Theory distinguishes between the following: Motivators (e.g. challenging work, recognition, responsibility) which give positive satisfaction, arising from intrinsic conditions of the job itself, such as recognition, achievement, or personal growth. Hygiene factors (e.g. status, job security, salary and fringe benefits) which do not give positive satisfaction, although dissatisfaction results from their absence. These are extrinsic to the work itself, and include aspects, such as company policies, supervisory practices, or wages/salary. Essentially, hygiene factors are needed to ensure an employee is not dissatisfied. Motivation factors are needed in order to motivate an employee to higher performance, Herzberg also further classified our actions and how and why we do them, for example, if you perform a work-related action because you have to, then that is classed as movement, but if you perform a work-related action because you want to, then that is classed as motivation.

Answer option C is incorrect. McGregor's X and Y theory describes the team members and their behavior on the project and how management responds.

Answer option B is incorrect. It describes the five layer of needs we all have.

Answer option D is incorrect. It explains the processes that an individual undergoes to make choices.

A statement of work (SOW) is a document that captures and defines the work activities, deliverables and timeline that a vendor will execute against in performance of work for a customer. Detailed requirements and pricing are usually specified in it, along with many other terms and conditions. SOW is a narrative description of products or services to be supplied by the project. For internal projects, the project initiator or sponsor provides the statement of work based on business needs, product, or service requirements. For external projects, the statement of work can be received from the customer as part of a bid document.

Answer option A is incorrect. Scope of statement gives the narrative description of the project scope.

Answer option B is incorrect. Project charter is a document that formally authorizes a project manager to work on a project.

Answer option D is incorrect. WBS is a tool that defines a project and groups the project discrete work in a way that helps organize and define the total work scope.

The project will need $1,087,497.74 more to complete. This formula, the estimate to complete, is estimate at completion minus the actual costs. Here,

CPI = EV/AC

= (0.40*2,208,456)/725,000

= 1.21846, and

ETC = EAC - AC

= (BAC/CPI) - AC

= (2,208,456/1.21846) - 725,000

= 1,812,497.74 - 725,000

= 1,087,497.74

The estimate to complete (ETC) is the expected cost needed to complete all the remaining work for a scheduled activity, a group of activities, or the project. ETC helps project managers predict what the final cost of the project will be upon completion. The formula for the ETC is EAC- A

C. The EAC is BAC/CPI.

Conformance to schedule is a required adherence for the project's schedule. In this instance, the project manager must not allow the schedule to slip more than five percent.

Answer option B is incorrect. This is the description of the schedule performance index.

Answer option D is incorrect. This is the description of the cost performance index.

Answer option C is incorrect. This is not a valid statement about the project performance.

Communication channels are paths of communication with stakeholders in a project. The number of communication channels shows the complexity of a project's communication and can be derived through the formula shown below: Total Number of Communication Channels = n (n-1)/2 where, n is the number of stakeholders. Hence, a project having five stakeholders will have ten communication channels. Putting the number of stakeholders in the formula we can get the required communication channel for the project. It is (80 x 79)/2 for 3,160 communication channels.

The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BA

C. Planned value is the percentage of where the project should be at this time multiplied by the BA

C. 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. In this example, EV = 40% of BAC = 300,000, and PV = 50% of BAC = 375,000 SV = 300,000 - 375,000 = -75,000

Answer options C, B, and D are incorrect. These are not the correct values for the schedule variance.

According to the question, the SPI of your project is 1.325. This figure is greater than 1. Hence, it shows that the schedule performance is better than expected. What is SPI? 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 C is incorrect. SPI has nothing to do with cost performance.

Answer options B and D are incorrect. An SPI value less than 1 or 0 indicates that the schedule performance is either below expectation or is right on target.

Parkinson's Law states that work expands to fill the amount of time allotted to complete the work. If Jim allows 25 hours for a project team member to complete a 20-hour task, it will likely take the team member 25 hours to do the work.

Answer option A is incorrect. This is a description of the Expectancy Theory.

Answer option B is incorrect. This is a description of the learning curve.

Answer option D is incorrect. This is a description of a portion of the Law of Diminishing Returns.

When the project manager relies on consultants or the project team (or both), it is an example of expert judgment. Expert judgment is a technique based on a set of criteria that has been acquired in a specific knowledge area or product area. It is obtained when the project manager or project team requires specialized knowledge that they do not possess. Expert judgment involves people most familiar with the work of creating estimates. Preferably, the project team member who will be doing the task should complete the estimates. Expert judgment is applied when performing administrative closure activities, and experts should ensure the project or phase closure is performed to the appropriate standards.

Answer option C is incorrect. This is not an example of decomposition.

Answer option B is incorrect. This is not an example of rolling wave planning.

Answer option A is incorrect. This is not an example of using a project template.

Crashing adds labor to the project. This approach adds costs to the project because you will have to pay for the added labor.

Answer option B is incorrect. Fast tracking allows entire phases to overlap in the project. This approach adds risks to the project.

Answer option D is incorrect. The critical chain method considers the availability of project resources.

Answer option A is incorrect. Adding lead time to activities allows activities to overlap and does not add project costs.

Of all the choices, the best explanation is that a dashboard is a report for quick review of the project's performance metrics. While there are some software solutions, they still focus on the key performance criteria of the project.

Answer option C is incorrect. This answer defines the definition of quality control, not the dashboard's review of project performance.

Answer option B is incorrect. Dashboards focus on the performance of the project's key performance factors, not the project manager.

Answer option A is incorrect. A status report could include the details of the project's risks and issues, but usually not the dashboard.

A milestone is simply a significant point or event in the project. It does not have to be assigned to a specific date, but is usually assigned to the completion of project phases. A milestone is the end of a stage that marks the completion of a work package or phase, typically marked by a high level event such as completion, endorsement or signing of a deliverable, document or a high level review meeting. In addition to signaling the completion of a key deliverable, a milestone may also signify an important decision or the derivation of a critical piece of information, which outlines or affects the future of a project. In this sense, a milestone not only signifies distance traveled (key stages in a project) but also indicates direction of travel since key decisions made at milestones may alter the route through the project plan. To create a milestone, enter 0 (zero) in the Duration field. The task will automatically be classified as a milestone.

Answer option C is incorrect. This is a project constraint.

Answer option B is incorrect. A project goal is an objective for time, cost, scope, and other metrics.

Answer option D is incorrect. All activities must be completed in order to complete the project work. Activities that are not completed are quality issues that prevent the project from completing the project scope.

Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. In this instances it is $270,000 divided by $335,000 for a CPI of .81.

Answer option B is incorrect. .67 is actually the schedule performance index.

Answer option D is incorrect. -$65,000 is the cost variance for the project.

Answer option A is incorrect. -$135,000 is the schedule variance of the project.

Templates are used to identify the typical schedule milestones in the Define Activity process. The tools and techniques used in defining the activity process are as follows: Decomposition: It is used to further divide the project work package into a more smaller and convenient form called activities. Rolling Wave Planning: It is a form of progressive elaboration planning where the work to be accomplished in the near term is planned in detail and future work is planned at a higher level of WBS. Templates: It is an activity list or a part of the activity list taken from the previous project and used in a new project. Expert Judgement: The skilled members in a project team or other experts who develop project scope statements can help provide knowledge in defining activities.

The best answer is simply an exception report. An exception report refers and documents the major mistakes, mishaps, and goofs. In other words, it itemizes the important and critically significant piece of documentation that is vital to the proper and effective functioning of a project. It does not document what has gone right, but rather documents what has gone wrong.

Answer option C is incorrect. A performance management report is not a valid project management report.

Answer option A is incorrect. The question is asked about cost and schedule so this answer would not be appropriate for both the cost and the schedule.

Answer option D is incorrect. The question is asked about cost and schedule so this answer would not be appropriate for both the cost and the schedule.

According to the question, you are required to calculate the cost performance index (CPI) of the project. Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. Here, CPI is as follows: CPI = EV / AV = 425/510 = 0.833 As the CPI (0.833) is less than 1, it shows that the schedule performance is below expectation. What is BCWP (or EV)? Budgeted cost of work performed (BCWP) or Earned Value (EV) is the value of completed work. It is the budgeted amount for the work actually completed on the schedule activity during a given time period. What is BCWS (or PV)? Budgeted Cost of Work Scheduled (BCWS) or Planned Value (PV) is the authorized budget assigned to the scheduled work to be accomplished for a schedule activity or Work Breakdown Structure (WBS) component. What is ACWP (or AC)? Actual cost of work performed (ACWP) or Actual Cost (AC) is the total costs actually incurred and recorded in accomplishing work performed during a given time period for a schedule activity. It is the cost of the work to date, including direct and indirect costs. AC is money that has actually been expended to date.

The best answer is to track actual durations to measure the actual progress of the project. Actual duration is the time, in the calendar units, between the actual start date of the schedule activity and either the data date of the project schedule if the schedule activity is in development or the actual finish date if the schedule activity is complete.

Answer option B is incorrect. The schedule baseline is not created based on actual durations.

Answer option A is incorrect. Process improvement is part of the quality management knowledge area, but it is not a reason to track actual durations.

Answer option D is incorrect. Quality control is the inspection of the project deliverables. It is not concerned with the actual durations of project work. The improvement of the project processes is defined in the Process Improvement Plan.

In order to ensure that the installation of the new materials is successful in the project, you should hire a subject matter expert to train the project team how to install the materials. This is the best preventive action that you can take in case the project team has never worked on the material.

Answer option C is incorrect as while this approach may work it's not the best corrective action as the project team isn't learning how to use the new materials.

Answer option B is incorrect as this approach practically encourages the team to waste materials without training them how to install the materials properly.

Answer option D is incorrect as the incentive program is flawed if the team doesn't understand how to install the new materials to begin with.

The risk owner is the individual on the project team that is closest to the risk event. The risk owner can be an individual or an organization responsible for implementing risk responses or contingency plan. The risk owner should be empowered with the ability to respond to the risk as it was planned.

Answer option B is incorrect. Harry is the project manager and likely would not be the risk owner as well.

Answer option C is incorrect. The project sponsor authorizes the project but does not participate in execution of the project.

Answer option D is incorrect. While a subject matter expert may be the risk owner on some occasions, he would not be the risk owner on every occasion.

The communications management plan defines who needs what information, when the information is needed, and the modality the information is expected in.

Answer option C is incorrect. The project schedule could include project management activities such as schedule communication, but the communications management plan is the best answer as this information is absolutely documented in this plan.

Answer option D is incorrect. The schedule management is not the best location for this information.

Answer option B is incorrect. The request for customer communication is not an issue, so this choice is not the most appropriate.

Fast tracking allows phases of the project to overlap and increases risk for the project. When new risks are introduced into the project they should be recorded in the risk register. Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. Description, category, cause, probability of occurring, impact on objectives, proposed responses, owner, and the current status of all identified risks are put in the risk register.

Answer option B is incorrect. The costs do not change because of the new fast tracking requirement.

Answer option C is incorrect. Resource calendars show the availability of project resources.

Answer option A is incorrect. Organizational process assets are updated as a result of updating the risk register when you consider that the risk register will become part of the organizational process assets. However, this is not the best answer for this question.

Lag time is positive time that requires the successor activity to wait for a defined amount of time, such as three days, before it can begin. Lag time does not change the task relationship, but requires a "waiting time" before the starting of the activity can begin. A lag time is a delay between the predecessor and the successor tasks. Sometimes it may be needed to schedule a delay between the predecessor and the successor tasks. For example, if two coats of paint are required to paint a car, then the final coat should be applied only when the first coat dries. This delay is known as the lag time. The lag time is entered as a positive value. The lag time can be entered as a duration or as a percentage of the predecessor's task duration. It is entered on the Predecessor tab in the Task Information dialog box.

Answer option D is incorrect. Float is a natural event that is discovered through the forward pass when using the critical path method. Float cannot be arbitrarily added as lag.

Answer option C is incorrect. Lead time actually brings activities closer together and causes them, in some cases, to overlap.

Answer option B is incorrect. Management reserve is a pool of time allotted for unscheduled changes and events that affect the project duration.

Crashing adds effort to the project activities. Activities that are of fixed duration, for example software testing, would not finish faster with added resources. 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. Activities on the critical path can be crashed.

Answer option C is incorrect. Activities with risks can be crashed.

Answer option A is incorrect. Additional quality control metrics are not necessary just because Holly elects to crash her project.

Of all the choices, the what-if scenario analysis allows you to determine the best approach to bring the schedule back into alignment with the project plan. What-if scenario analysis explains the analysis of the question "What if the situation represented by scenario 'X' happens?". This What-If Scenario Analysis shortly named as WIS

A. A schedule network analysis is performed using the schedule to compute the different scenarios, such as extending specific engineering durations, or delaying a major component delivery. Businesses use what-if scenarios to determine the effect different costs or investments have on profit and other financial indicators.

Answer option D is incorrect. Resource leveling can cause your project's duration to increase.

Answer option C is incorrect. Schedule analysis is the review of the schedule, but does not examine other possibilities for completing the project work.

Answer option B is incorrect. Root cause analysis could help you determine the reasons why the project is running late, but it is not the best choice for this question as it is not a control schedule process tool and technique.

The stakeholder register does not contain the project management team's classification information. The stakeholder register is a project management document that contains a list of the stakeholders associated with the project. It assesses how they are involved in the project and identifies what role they play in the organization. The information in this document can be very perceptive and is meant for limited exchange only. It also contains relevant information about the stakeholders, such as their requirements, expectations, and influence on the project.

Answer options D, C, and A are incorrect. These are the parts of the stakeholder register.

A schedule baseline provides a method to track project progress during project execution against what was planned. What is schedule baseline? Schedule baseline is a project schedule used in measuring project progress. It helps provide a comparison with the actual progress of work against the schedule and to determine if performance to date is within acceptable parameters. Any change caused by change in scope of the project invalidates the original schedule and requires a new baseline schedule.

Answer options D, A, and B are incorrect. A detailed project budget, team members profile, and benefit-cost ratio will not help you track project progress. What is BCR? A benefit-cost ratio (BCR) is an indicator, used in the formal discipline of cost-benefit analysis, that attempts to summarize the overall value for money of a project or proposal. A BCR is the ratio of the benefits of a project or proposal, expressed in monetary terms, relative to its costs, also expressed in monetary terms. All benefits and costs should be expressed in discounted present values. For e.g., a BCR of $3.8 indicates a payback of $3.8 for each dollar expended.

Activity I must finish by Day 22, so that Activity J can start by Day 23. If Activity I finishes later than Day 22, the project will be late.

Answer option D is incorrect. Day 19 is the earliest Activity I can finish.

Answer option A is incorrect. Day 20 is the latest Activity I can start.

Answer option C is incorrect. Day 17 is the earliest Activity I can start.

This is an example of fast tracking. Fast tracking allows phases to overlap in order to compress the project schedule.

Answer option D is incorrect. Crashing adds labor to the project in order to complete effort-driven activities in less time.

Answer option B is incorrect. The lead time allows individual activities to overlap, not entire phases.

Answer option A is incorrect. Resource leveling heuristics are rules that limit the amount of time a labor resource may contribute to the project in a given time period.

The Integration Change Control process is a part of Project Integration Management knowledge area group. It falls under the Monitoring and Controlling process group. Monitoring and controlling is a process group or stage that starts when the project is in the executing stage. This process overlaps the executing stage. Monitoring and controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project. The key benefit is that project performance is observed and measured regularly to identify variances from the project management plan. Monitoring and controlling includes: Measuring the ongoing project activities (where we are). Monitoring the project variables (cost, effort, ...) against the project management plan and the project performance baseline (where we should be). Identify corrective actions to properly address issues and risks (How can we get on track again). Influencing the factors that could circumvent integrated change control so only approved changes are implemented. In multi-phase projects, the monitoring and controlling process also provides feedback between project phases, in order to implement corrective or preventive actions to bring the project into compliance with the project management plan. What is Project Integration Management? Project Integration Management is one of the nine Project Management Knowledge areas. It comprises the following processes:

Develop Project Charter

Develop Preliminary Project Scope Statement

Develop Project Management Plan

Direct and Manage Project Execution

Monitor and Control Project Work

Integrated Change Control

Close Project

These processes occur throughout the project and are repeated quite often during the working of the project. They ensure that the various elements of the project are properly coordinated.

The code of accounts is a hierarchical numbering system that uniquely identifies each deliverable of the WBS and segments the WBS by levels of numbering.

Answer option C is incorrect. Component numbering is not a valid term for project management.

Answer option B is incorrect. A chart of accounts is a financial tracking and assignment tool for common deliverables and activities an organization performs for its customers.

Answer option D is incorrect. Activity linkage sequencing is not a valid project management term.

The to-complete performance index when based on the estimate at completion uses the formula (BAC-EV)/(EAC-AC). In this instance, the answer is 0.98, which means the project is likely to reach its performance objectives. To-complete Performance Index (TCPI) is the measured projection of the anticipated performance required to achieve either the BAC or the EA

C. TCPI indicates the future required cost efficiency needed to achieve a target EAC (Estimate At Complete).Once approved, the EAC supersedes the BAC as the cost performance goal. Any significant difference between TCPI and the CPI needed to meet the EAC should be accounted for by management in their forecast of the final cost. The formula for TCPI is as follows: TCPI = {(BAC-EV)/(BAC-AC)}

Answer option B is incorrect. This is the value of TCPI using the BAC approach.

Answer option C is incorrect. This is the estimate at completion for this project.

Answer option A is incorrect. -$108,120 is the variance at completion

The milestone list is the best answer. A milestone list provides a sequence of indicators about project progress to date and achievements or goals, which are to be achieved. The milestone list is used in project management as an indication of progress through the achievement of a major project accomplishment. It is a project document that is not part of the project management plan. The list contains all the project milestones along with information indicating whether they are mandatory to achieve or not.

Answer option A is incorrect. The scope baseline is a collection of the project scope, the WBS, and the WBS dictionary.

Answer option D is incorrect. The project schedule management plan is not the best answer, as the milestone list is the most direct result.

Answer option C is incorrect. The project charter is not the best answer for identifying the milestones.

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.

Of all the choices, only fast tracking is an option that would not increase project costs. Fast tracking allows phases of the project to overlap, but it does increase project risks. Fast tracking is a technique for compressing project schedule. In fast tracking, phases are overlapped that would normally be done in sequence. It is shortening the project schedule without reducing the project scope.

Answer option B is incorrect. Crashing adds labor to the project and increases project costs.

Answer option C is incorrect. Effort-driven activity analysis examines activities whose duration may be reduced by adding labor. This approach, however, increases project costs, as it is a form of project crashing.

Answer option D is incorrect. Rewards and recognitions are good incentives for the project team, but simply offering the reward does not decrease the duration of the project.

An activity is an individual component of work that is logically linked to other activities to outline the schedule. Its key characteristics include an overall duration based upon the resources applied to it (manpower, material, and equipment), a start and completion date that is tied to a work calendar, and an association with other activities (predecessor and successors). Following are the various types of activities in schedule creation: Tasks: A task is an activity that needs to be accomplished within a defined period of time. Milestones: A milestone is the end of a stage that marks the completion of a work package or phase, typically marked by a high level event such as completion, endorsement or signing of a deliverable, document or a high level review meeting. Flags: Flags shall occur at appropriate intervals of approximately each month. The flags shall be located on the critical path and be incorporated into the baseline, all targets, and the current schedule. Hammocks: Hammocks are a summary pseudo "activity" representing a group of related activities that collectively cover some portion of a project.

Answer option B is incorrect. The Critical Path scheduling, or Critical Path Analysis, is a mathematically based algorithm for scheduling a set of project activities.

Activity I can actually take all the way to Day 30 to complete. Note in the figure that Activity I does not need to be completed before Activity K can begin. This allows Activity I to take until Day 30 to complete as its late finish.

Answer option C is incorrect. This is the earliest Activity I may finish.

Answer options B and A are incorrect. These are not the valid calculation.

The level of effort term describes the ongoing maintenance associated with the project work, but not a contribution to the deliverables of the project work. Level of Effort (LOE) is a project activity which must be done to support other work activities or the entire project effort. It usually consists of short amounts of work which must be repeated periodically. LOE is used to define the amount of work performance within a period of time and is measured in man days or man hours per day/week/month.

Answer option B is incorrect. Discrete effort describes the activities that can be linked directly to the project work packages.

Answer option A is incorrect. Project management overhead is an example of apportioned effort.

Answer option D is incorrect. The cost of conformance to quality describes the dues, such as the subscription for the anti-virus software that must be spent, so the project can reach its objectives.

Cost performance index (CPI) is used to calculate performance efficiencies. It is used in trend analysis to predict future performance. CPI is the ratio of earned value to actual cost. The CPI is calculated based on the following formula: CPI = Earned Value (EV) / Actual Cost (AC) If the CPI value is greater than 1, it indicates better than expected performance, whereas if the value is less than 1, it shows poor performance. The CPI value of 1 indicates that the project is right on target. In this instance, the actual costs are $125,000 more than what the work is worth, which means you'll need to find the earned value, $795,024 and add $125,000 to find the actual costs of the project, which are $920,024.

Answer option A is incorrect. This is a trick as 86 is not the same value as .86. On your PMP exam pay attention to these little details.

Answer option C is incorrect. .90 is slightly more than the Schedule Performance Index of this project.

Answer option B is incorrect. This value represents the actual cost of the project.

This is an example of a weighting system as the values you're measuring are weighted towards experience.

Answer option B is incorrect. A preferred vendors list describes the vendors you're allowed to choose from in the organization.

Answer option A is incorrect. A screening system sets qualifiers in place, such as the vendor must have a PMP on staff, in order to qualify for the project.

Answer option C is incorrect. The benefits-cost analysis defines the total number of benefits to the number of costs the project requires.

The number of communication channels describes the number of opportunities for stakeholders to communicate amongst themselves and for communication to be broken down. To find the number of communication channels, you can use the formula of N(N-1)/2 where N represents the number of stakeholders.

Total number of communication channels = N(N-1)/2

= 755(755-1)/2

= 284,635

Answer option D is incorrect. This is the number of stakeholders.

Answer option C is incorrect. 569,270 is not a valid calculation of this formula.

Answer option B is incorrect. 570,025 is not a valid calculation of this formula.