Quick Quiz - EVM

Quick Quizzes are a great way to assess how much you learned during the PMP Boot Camp. They aren't called "Quick" because they are short or take a small amount of time, but rather because you should be able to answer each question quickly. You probably won't see many questions like this on the PMP exam, but it is a good way to solidify the base knowledge upon which you must draw to answer PMP situational, behavioral questions. This Quick Quiz will help you obtain the 1st of the 3 keys to passing the PMP Exam: An in-depth understanding of the PMBOK. 

Quick Quizzes are timed based on an average of 72 seconds per question.

If you cannot answer all of these questions correctly, go back and study the student guides, read the PMBOK, and prepare questions to ask your instructor during the next class session.

To obtain an in-depth understanding of the PMBOK (copy)

Which of the following is False about Earned Value Management?

EVM can be used in all Monitoring & Controlling processes

  • EVM is used to monitor and control the schedule
  • EVM is used to monitor and control cost
  • EVM can be used in all Monitoring & Controlling processes
  • EVM cannot be used on all projects

What is created as a result of EVM calculations?

Performance Measurement Baseline

  • Performance Measurement Baseline
  • Cost Baseline
  • Schedule Baseline
  • EVM Baseline

Which variable represents the total original expected cost of the project?

BAC

  • PV
  • BAC
  • EV
  • EAC

How should a PM determine BAC?

Add up all PV estimates

  • Add up all EV estimates
  • Add up all PV estimates
  • Add up all AC estimates
  • Add up all ETC estimates

How should the PM determine Planned Value?

Multiply BAC times the Planned % Complete

  • Do a manual forecast
  • Multiply BAC times the Planned % Complete
  • Multiply BAC times the Actual % Complete
  • Subtract VAC from EAC

What is the work that should have been completed at any given point in time?

PV

  • EV
  • ETC
  • EAC
  • PV

What is the work that has actually been completed at any given point in time ?

EV

  • EV
  • PV
  • BAC
  • EAC

How should the PM determine Earned Value?

Multiply BAC times the Actual % complete

  • Manual forecast
  • Divide BAC by the CPI
  • Multiply BAC times the Actual % complete
  • Multiply BAC times the Planned % complete

What variable tells you how far ahead or behind schedule in a dollar value?

SV

  • CV
  • SPI
  • CPI
  • SV

What is the formula for SV?

EV-PV

  • EV-AC
  • EV-PV
  • PV-EV
  • AC/EV

Which variable tells you schedule efficiency ?

SPI

  • SV
  • SPI
  • CV
  • CPI

What is the formula for SPI?

EV/PV

  • EV/AC
  • PV/AC
  • EV/PV
  • PV/EV

Which value tells you how much over or under budget you are in dollar values?

CV

  • VAC
  • CV
  • CPI
  • ETC

What is the formula for CV?

EV-AC

  • AC-EV
  • EV-AC
  • PV-EV
  • EV-PV

Which variable tells you cost efficiency for your project?

CPI

  • CPI
  • CV
  • SPI
  • VAC

Which variables are useful for determining project status and providing a basis for estimating cost and schedule outcomes?

SPI & CPI

  • SV & CV
  • ETC & VAC
  • BAC & ETC
  • SPI & CPI

Which variable is considered the most critical EVM metric because it measures the cost efficiency for the work actually completed?

CPI

  • EV
  • CPI
  • ETC
  • CV

Which variable is the new expected total cost for the project based on project performance to date?

EAC

  • ETC
  • EAC
  • VAC
  • BAC

What is the formula for Estimate at Completion?

BAC/CPI

  • VAC/CPI
  • BAC/CPI
  • VAC/ETC
  • BAC/CV

Which variable represents the estimated total cost savings or overrun for the project?

VAC

  • ETC
  • EAC
  • VAC
  • BAC

What is the formula for VAC?

BAC-EAC

  • BAC-EAC
  • EAC/CPI
  • ETC-EAC
  • EAC-BAC

Which variable represents how much more money it should take to complete the remaining work of the project?

ETC

  • EAC
  • ETC
  • VAC
  • EV

What is the formula for Estimate to Complete?

EAC-AC

  • AC-EAC
  • BAC-EAC
  • EAC-VAC
  • EAC-AC

What variable represents the cost performance that is required with remaining resources to meet a specified management goal for the project?

TCPI

  • CPI
  • TCPI
  • EAC
  • ETC

What is the formula for TCPI?

(BAC-EV)/(BAC-AC) or (EAC-AC) 

  • (BAC-EV)/(BAC-AC) or (EAC-AC)
  • (BAC-EV)/(BAC-AC) or (EAC-EV)
  • (BAC-AC)/(BAC-EV) or (EAC-AC)
  • (BAC-EV)/(ETC-AC) or (EAC-AC)

Which variable is equal to the work remaining divided by the funds remaining?

TCPI

  • ETC
  • EAC
  • TCPI
  • VAC

Which variable follows the rule of Positive=Ahead Schedule; Negative=Behind Schedule?

SPI

  • CPI
  • SPI
  • SV
  • CV

Which variable follows the rule of >1=Ahead Schedule; <1=Behind Schedule?

SV

  • CV
  • TCPI
  • SPI
  • SV

Which variable follows the rule of Positive=Under Budget; Negative=Over Budget?

CV

  • TCPI
  • CV
  • CPI
  • SV

Which variable follows the rule of >1=Under Budget; <1=Over Budget?

CPI

  • CV
  • TCPI
  • CPI
  • SV

Which variable follows the rule of >1=Harder to complete; <1=Easier to complete?

TCPI

  • TCPI
  • CPI
  • SPI
  • SV

Which formula for EAC accepts actual project performance (AC) and predicts future performance will happen at originally budgeted rate ?

EAC = AC + BAC – EV

  • EAC = BAC/CPI
  • EAC = AC + [(BAC-EV)/(CPIxSPI)]
  • EAC = AC + BAC – EV
  • EAC = AC + Bottom-Up Estimate

Which formula for EAC is considered the most accurate on a project?

EAC = AC + Bottom-Up Estimate

  • EAC = AC + Bottom-Up Estimate
  • EAC = BAC/CPI
  • EAC = AC + BAC – EV
  • EAC = AC + [(BAC-EV)/(CPIxSPI)]