Free AACE International PSP Practice Exam with Questions & Answers | Set: 6

 Understanding Schedule Performance Index (SPI):

SPI is calculated as SPI=BCWPBCWS\text{SPI} = \frac{\text{BCWP}}{\text{BCWS}}SPI=BCWSBCWP​, where BCWP is the budgeted cost of work performed, and BCWS is the budgeted cost of work scheduled.

SPI < 1 indicates that the project is progressing slower than planned, meaning it is behind schedule.

 Evaluation of Other Options:

A: SPI > 1 would indicate the project is ahead of schedule.

B: SPI = 1 implies the project is on schedule.

C: Completion is not relevant to SPI.

 Verification with PSP Guidelines:

PSP emphasizes SPI as a key metric in earned value management (Ref: PSP Study Guide, Chapter 1D: Earned Value Analysis).

To calculate the duration:

Total hours required: 240 hours.

Daily work hours per crew: 5 workers × 8 hours/day = 40 hours/day.

Duration = Total hours ÷ Daily work hours = 240 ÷ 40 = 6 days.

This calculation aligns with standard resource planning principles​.

The use of a winter/wet weather seasonal calendar is essential in planning and scheduling to account for climatic conditions that can impact project timelines. The PSP Study Guide emphasizes identifying project variables, such as environmental conditions, and incorporating them into the project plan to manage risks and constraints effectively. Seasonal calendars help planners predict periods of reduced productivity, increased costs, and potential delays due to adverse weather conditions (PSP Study Guide, Subchapter 1.2.4, "Project Variables").

These calendars are particularly useful for:

Forecasting potential schedule impacts during specific periods.

Enhancing the accuracy of risk management plans (PSP Study Guide, Section 1.3.13, "Risk and Recovery Plan").

Aiding in decision-making regarding resource allocation during slow periods.

The Estimate to Complete (ETC) quantifies the cost required to complete all remaining work.

Option A (Budget at Completion - BAC) is the total approved budget.

Option B (Budgeted Cost of Work Performed - BCWP) measures earned value.

Option D (Estimate at Completion - EAC) includes both actual costs to date and ETC.

ETC is used to forecast project completion costs as outlined in standard project management practices​​.

An earned value management (EVM) system can base its calculations on labor hours or monetary values, depending on the nature of the project. Both methods are valid for tracking performance and forecasting outcomes.

Option B (direct or indirect cost) does not align with EVM's focus on performance metrics.

Option C confuses timeframes with budgeting principles.

Option D (linear feet or dollars) applies to physical progress tracking but not directly to EVM systems.

This is consistent with EVM principles as outlined in project control methodologies within the PSP materials​.

 Proceeding without completing environmental studies introduces compliance risks, such as legal challenges or project shutdowns. This is not a feasible method for reducing the overall completion time as it contradicts environmental regulations and ethical standards.

 Methods like subcontracting (A) or reallocating resources (B) are feasible, as they leverage resource management.

 References: PSP Study Guide, Section 1.2.3 – Stakeholder Considerations, and Section 1.3.13 – Risk and Recovery Planning, which emphasize compliance with regulations and avoiding unmanageable risks.

A driving relationship is the dependency link where the predecessor activity directly governs the dates of the successor activity.

Option A confuses "driving" with critical path relationships.

Option B oversimplifies by focusing on one type of relationship.

Option C is vague and does not specify the control aspect.

The driving relationship determines schedule flow and is essential for maintaining logical dependencies in CPM scheduling​.

 Late Finish Analysis for Activity C (Develop Plans and Specs):

Activity C duration is 5 months, starting after Activity A (3 months).

Late finish = Early start of successor (Activity E) = 10 months.

 Cross-Verification:

Based on backward pass calculations, Activity C must end by month 10 to not delay its successor.

 Verification with PSP Guidelines:

Late finish values are calculated during backward pass (Ref: PSP Study Guide, Chapter 2A: Backward Pass and Float Calculations).

Activity Details (9001 - "Spillway - Concrete"):

Duration: 175 days in the Normal schedule.

To calculate Late Start (LS), the Late Finish (LF) is required. LS is calculated by subtracting the activity's duration from the LF.

Formula for Late Start (LS):LS = LF.9001 - Dur.9001.

Date Calculation:

Late Finish (LF.9001) = 11-20-02 (given or derived).

Apply the formula:LS.9001 = LF.9001 - Dur.9001= 11-20-02 - 175 days.

Cross-Verification of Dates:

After subtracting 175 days, LS.9001 = 11-20-02.

Cross-Verification with Answer Options:

Option A: Incorrect. EF (Early Finish) is not needed for this calculation.

Option B: Incorrect. Uses LS and Dur incorrectly without connecting to LF.

Option C: Incorrect. Data provided is sufficient.

Option D: Correct. Matches both the formula and the date calculation.