Cost Management Question: Download Cost Management PDF

A cost performance index (CPI) of 0.89 means:

A. At this time, we expect the total project to cost 89 percent more than planned
B. When the project is completed we will have spent 89 percent more than planned
C. The project is only progressing at 89 percent of the rate planned
D. The project is only getting 89 cents out of every dollar invested

Answer:

D. The project is only getting 89 cents out of every dollar invested

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Cost performance measurement is BEST done through which of the following?

A. Asking for a percent complete from each team member and reporting that in the monthly progress report
B. Calculating earned value and using the indexes and other calculations to report past performance and forecast future performance
C. Using the 50/50 rule and making sure the life cyde cost is less than the project cost
D. Focusing on the amount expended last month and what will be expended the following month

A schedule performance index (SPI) of 0.76 means:

A. You are over budget
B. You are ahead of schedule
C. You are only progressing at 76 percent of the rate originally planned
D. You are only progressing at 24 percent of the rate originally planned