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PMI SP (SP) Practice Tests & Test Prep by Exam Edge - Exam Info



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The more you know about the PMI SP exam the better prepared you will be! Our practice tests are designed to help you master both the subject matter and the art of test-taking to be sure you are fully prepared for your exam.

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PMI Scheduling Professional - Additional Information

At ExamEdge.com, we focus on making our clients' career dreams come true by offering world-class practice tests designed to cover the same topics and content areas tested on the actual Project Management Institute PMI Scheduling Professional (SP) Certification Exam. Our comprehensive PMI Scheduling Professional practice tests are designed to mimic the actual exam. You will gain an understanding of the types of questions and information you will encounter when you take your Project Management Institute PMI Scheduling Professional Certification Exam. Our PMI Scheduling Professional Practice Tests allow you to review your answers and identify areas of improvement so you will be fully prepared for the upcoming exam and walk out of the test feeling confident in your results.

Because our practice tests are web-based, there is no software to install and no need to wait for a shipment to arrive to start studying. Your PMI Scheduling Professional practice tests are available to you anytime from anywhere on any device, allowing you to study when it works best for you. There are 5 practice tests available, each with 100 questions and detailed explanations to help you study. Every exam is designed to cover all of the aspects of the PMI SP exam, ensuring you have the knowledge you need to be successful!

PMI Scheduling Professional - Additional Info Sample Questions

You work as a Project Manager for Tech Corporation.  Several projects are running under your supervision.  Martha, the team leader of a project, provides you performance indexes of her project.  The cost variance (CV) of her project is - 20.  What does this figure depict?

Correct Answer:
costs are higher than planned


when martha, the team leader, reports a cost variance (cv) of -20 for her project, it is critical to understand what this figure represents in the context of project management and budget control. the cv is a key performance indicator used in the earned value management (evm) system, which integrates the scope, schedule, and cost dimensions of project performance.

the formula for calculating the cost variance is cv = earned value (ev) - actual cost (ac). earned value (ev) is the value of the work actually performed expressed in terms of the approved budget assigned to that work. actual cost (ac), on the other hand, is the total cost incurred in accomplishing the work that the ev measures. this cost is accrued and recorded as the project progresses.

in the scenario provided, a cv of -20 indicates a negative variance, meaning that the actual costs (ac) have exceeded the earned value (ev) of the work performed by $20. this discrepancy shows that the project is over budget to the extent of this variance amount. a negative cost variance is a clear signal that spending on the project is higher than what was planned at this stage.

this situation can arise from various factors such as underestimating the initial project costs, unexpected project challenges, inefficiencies in resource utilization, or changes in project scope that were not accompanied by adequate adjustments in the budget. it is crucial for a project manager to investigate the underlying reasons for a negative cv to implement corrective actions and bring the project back on track financially.

understanding that a negative cv indicates cost overruns is essential for maintaining budget control and ensuring project success. conversely, a positive cv would mean that the project is under budget, which might signal cost savings but could also raise questions about whether all necessary work has been completed to the required standards. thus, both positive and negative variances require careful analysis by the project manager to ensure that the project meets its objectives both financially and in terms of deliverables.