1. 1- Half way through the executing processes of your
project, a team member alerts you to a potential cost
overrun for a specific deliverable. What do you do first?
A ) Determine the projected actual cost.
B ) Implement a change control process to track the
change
C ) Inform the customer.
D ) Determine the cause of the overage

2. 2- Which of the following represents the value of
work we have actually completed?
A ) Earned value
B ) Planned value
C ) Actual cost
D ) Estimate to complete

3. 3- While completing your project, you realized that you
need to decrease the project costs. After researching
your options, you came up with the following choices.
Which choice would DECREASE project costs?
A ) Change to component A from component B. component A
costs more to purchase, but has a lower life cycle cost than B.
B ) Change activity A to be completed by resource B instead of
resource c. resource B is more experienced worker.
C ) Move activities B and H to occur concurrently, and accept a
30 percent increase in the risk that five more resources will be
needed later.
D ) Remove a test from the project management plan.

4. 4- If earned value (EV) is U.S.$300000, actual
cost (AC) is U.S.$350000, and planned value (PV)
is U.S. $375000, what does the schedule
performance index (SPI) indicate?
A ) You are progressing at 86% of the rate originally
planned.
B ) You are progressing at 125% of the rate originally
planned.
C ) You are progressing at 116% of the rate originally
planned.
D ) You are progressing at 80% of the rate originally
planned.

5. 5- The formula, EAC = BAC/CPI, assumes that:
A ) All subsequent work will be completed at the planned
expenditures.
B ) All subsequent work will be completed at the planned
expenditures, excluding the work packages currently
under way
C ) All subsequent work will be completed based upon the
cost performance to-date
D ) The cost performance cannot change during the project

6. 6- What tool must project managers rely upon
to accurately identify the costs associated with
the project?
A ) A bill of materials
B ) A Gantt chart
C ) A precedence diagram network
D ) A work breakdown structure

7. 7- If the Earned Value is equal to Actual Cost, it
means:
A-Project is on budget and on schedule
B-Schedule Variance Index is 1
C-There is no schedule variance
D-There is no cost variance

8. 8-Suppose you have a budgeted cost of a project at
$900,000. The project is to be completed in 9 months.
After a month, you have completed 10% of the project
at a total expense of $100,000. The planned
completion should have been 15%. At the current
progress rate, how much more money is required to
complete the project?
A) $ 800,000
B) $ 900,000
C) $ 1,000,000
D) $ 1,100,000