The Project Notebook

PMP Challenge Question – 9/15

Before we get into the next question and the answer to the last one, here is how you can get a PMP Exam Prep book including PMP(r) Exam Success Series from Crosswind Project Management. This includes their “Brain Dump” review card and CD Exam Simulator. For a lucky runner up, I have a Prepare for the PMP(r) Exam: Formulas and Important Facts to Remember card from Value Based Project Management.

To be eligible for these prizes, you must:

a) correctly answer 2 of the next 3 PMP challenge questions (that would include 9/15, 10/1, and 10/15)

b) email your responses to sdcapmp@aol.com before 12:01am 10/30/2007

c) have your name drawn from the eligible emails received.

Winners will be notified by email and will need to supply a mailing address for prizes.

Note I won’t be posting answers to these questions until after 10/30. I always acknowledge receipt of emails, so if you don’t hear from me in 24-48 hours, you might want to try me again.

So first, here is today’s challenge question:

Task A is worth $400, is 95% complete, and actually cost $395 so far. Task B is worth $350, is 85% complete, and actually cost $330 so far. Task C is worth $500, is 100% complete, and actually cost $450. Task D is worth $1,000, is and is not started. In Earned Value terms, what is the value of AC for this project?

Now let’s take a look at the answer to the 9/1 Challenge Question:

I asked you to calculate the PERT value for the network presented on 8/1 and 8/15 using the Early Start, Duration, and Early Finish. I’m going to show you what it looks like when you use the critical path with the most tasks. This is probably most representative of the PERT time, but you could use the second critical path as well for validation. The key facts to solving the question are:

1) PERT is a weigthed average of the most likly, most pessimistic, and most optimistic time.

2) You cannot add standard deviations, so you need to compute the variance to determine the range of confidence.

A chart of the tablular results can be found here.

Adding the numbers together, we calcuate the PERT duration as 33.16 units +/- 10.76 units at one confidence interval.

Good luck with the next challenge!

Short URL: http://bit.ly/eoO0zF

Category: PMP® Challenge Question

Tagged: ,

Leave a Reply

Past Articles

Links and Buttons

Add to Technorati Favorites



Blogging Fusion Blog Directory

San Diego Blog News

Submit Express Inc.Submit Express - SEO Services

Disclaimer

All opinions on this blog are those of the site owner and do not reflect the opinion of any other entity. Information on this site may contain errors or inaccuracies; The Project Notebook does not make warranty as to the correctness or reliability of the site's content. If you believe something on this site is inappropriate and should be removed, please contact the site owner at sdcapmp at aol dot com.

Notices

"PMP" is a registered mark of the Project Management Institute.

Copyright

© 2010-2012 Ray W. Frohnhoefer, MBA, PMP, CCP