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The PMP® Exam Success Series: Understanding the Processes Audio CD is a key tool for anyone preparing for the PMP®. This CD has descriptions of all 44 process areas covered on the PMP® and CAPM® exams. The format describes each of the processes, where they occur and have impact, as well as a description of the process and key input, tools and outputs. It's perfect for memorizing how all the pieces of the PMBOK® fit together during that long commute to the office or that late night study session.

The construction engineer is doing questionable work on his tasks on the remodeling project. The Project Manager has spoken to him about it a few times to no resolution. Functional Management has been made aware of this issue as well. Who is responsible for the quality of the work of the construction engineer?

(a) Senior Management
(b) Functional Management
(c) The Construction Engineer
(d) Project Manager

Benchmarking

The comparison of a current product to industry standards or past standards to attain a measurement or baseline

Task A is worth $400, is 95% complete, and actually cost $395. Task B is worth $350, is 90% complete, and actually cost $330 so far. Task C is worth $275, is 100% complete, and has cost $310 so far. The total budget is $2500. What is the Estimate at Completion for the tasks listed?

(a) $1100.04
(b) $690.63
(c) $2668.09 (Correct)
(d) $2500

Explanation: To calculate this, the CPI needs to be calculated first. To calculate the CPI, the Earned Value (EV) and Actual Cost (AC) need to be calculated first. To do this, multiply the percent complete of each task by its Planned Value (PV); that will provide the EV for each task. Sum the Earned Value of each task to determine the total Earned Value. Sum the Actual Cost of each task to determine the total Actual Cost. The Earned Value of $970.00 is then divided by the Actual Cost of $1035.00. This provides a CPI of 0.937. The BAC of $2500 is then divided by the CPI to produce an Estimated at Completion of $2668.09 US.

For more questions, terminology and other exercises please see the PMP® Exam Success Series: Certification Exam Manual at www.c rosswind pm.com

Question of the Day

The construction engineer is doing questionable work on his tasks on the remodeling project. The Project Manager has spoken to him about it a few times to no resolution. Functional Management has been made aware of this issue as well. Who is responsible for the quality of the work of the construction engineer? (a) Senior Management (b) Functional Management (c) The Construction Engineer (d) Project Manager

Terminology of the Day

Benchmarking The comparison of a current product to industry standards or past standards to attain a measurement or baseline

Answer and Explanation to Yesterday's Question

Task A is worth $400, is 95% complete, and actually cost $395. Task B is worth $350, is 90% complete, and actually cost $330 so far. Task C is worth $275, is 100% complete, and has cost $310 so far. The total budget is $2500. What is the Estimate at Completion for the tasks listed? (a) $1100.04 (b) $690.63 (c) $2668.09 (Correct) (d) $2500 Explanation: To calculate this, the CPI needs to be calculated first. To calculate the CPI, the Earned Value (EV) and Actual Cost (AC) need to be calculated first. To do this, multiply the percent complete of each task by its Planned Value (PV); that will provide the EV for each task. Sum the Earned Value of each task to determine the total Earned Value. Sum the Actual Cost of each task to determine the total Actual Cost. The Earned Value of $970.00 is then divided by the Actual Cost of $1035.00. This provides a CPI of 0.937. The BAC of $2500 is then divided by the CPI to produce an Estimated at Completion of $2668.09 US. For more questions, terminology and other exercises please see the PMP® Exam Success Series: Certification Exam Manual at www.c rosswind pm.com