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PMI-SP Exam - Topic 9 Question 29 Discussion

Actual exam question for PMI's PMI-SP exam
Question #: 29
Topic #: 9
[All PMI-SP Questions]

You are the project manager of the GHY Project. This project is scheduled to last for one year and

has a BAC of $4,500,000. You are currently 45 percent complete with this project, though you are up

posed to be at your second milestone which accounts for half of the project completion. There have

been some errors in the project which has caused you to spend $2,073,654. What is this project's

schedule variance?

Show Suggested Answer Hide Answer
Suggested Answer: C

The schedule variance can be found by subtracting the planned value from the earned

value. In this instance, it is $2,025,000 minus

$2,250,000.

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.

Answer option B is incorrect. This is the cost variance for the project.

Answer option A is incorrect. 10 percent is not a valid answer.

Answer option D is incorrect. This is not a valid variance for this question; variances are typically

negative numbers.


by Valentine at May 03, 2022, 07:43 PM

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Diane
4 months ago
I doubt the calculations are right, feels like a mistake.
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Omer
4 months ago
Totally agree, something's off here!
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Peggie
4 months ago
Wait, how did we spend over $2 million and only be 45% complete?
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Tracey
4 months ago
So, we should be at $2,250,000 spent by now.
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Jacinta
4 months ago
The BAC is $4,500,000 and we're 45% done.
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Louisa
5 months ago
I’m a bit confused about the numbers here. I know we need to find the planned value first, but I can't remember how to calculate it based on the BAC and completion percentage.
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Karrie
5 months ago
This reminds me of a practice question where we had to determine if the project was ahead or behind schedule. I feel like the answer might be negative since we're behind on milestones.
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Paris
5 months ago
I think the schedule variance is calculated by subtracting the planned value from the earned value. I just need to recall how to find those values for this question.
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Lashunda
5 months ago
I remember we discussed how to calculate schedule variance using earned value management, but I'm not sure about the exact formula right now.
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Avery
5 months ago
Hmm, this looks like a pricing strategy question. I'll need to think through the different options and see which one best fits the scenario.
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Merilyn
5 months ago
I'm a bit confused by this question. I'll have to review my notes to see if I can figure out the right answer.
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Desmond
5 months ago
I recall a practice question where we had to outline the steps, but reversing a direct deposit seems off. Isn't that something we don't do for stop payments?
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