BICSI PRACTICE TEST RETAKE 2026 FINAL
PAPER EXAM Q&A STUDY GUIDE WITH
VERIFIED SOLUTIONS
◉ Actual Costs (AC). Answer: Amount of money it took to
accomplish the work that was completed.
Goal should be to = PV
◉ Cost Variance (CV). Answer: The amount of budget deficit or
surplus at a given point in time, expressed as the difference between
the earned value and the actual cost.
= EV - AC
Cost baseline comparrison
0 = target
Deficit < 0 > Surplus
◉ Schedule Variance (SV). Answer: A measure of schedule
performance expressed as the difference between the earned value
and the planned value.
= EV - PV
Target = 0
Behind Schedule < 0 > Ahead of Schedule
,◉ Cost Performance Index (CPI). Answer: A measure of the cost
efficiency of budgeted resources expressed as the ratio of earned
value to actual cost.
= EV / AC
Target = 1; 0.95 - 1.05
Over Budget < 1 > Under Budget
Under .90 and above 1.1 is bad
◉ Schedule Performance Index (SPI). Answer: A measure of
schedule efficiency expressed as the ratio of earned value to planned
value.
= EV / PV
Target = 1; 0.95 - 1.05
Behind < 1 > Ahead
Under .90 and above 1.1 is bad
◉ Estimate at Completion (EAC). Answer: = BAC / CPI
Project cost @ Completion if CPI is constant
◉ Estimate to Complete (ETC). Answer: The expected cost to finish
all the remaining project work if CPI remains constant.
= EAC - AC
,◉ To Complete Performance Index (TCPI). Answer: = (BAC - EV) /
(BAC - AC)
CPI needed to meet original budget
Good < 1 > Bad
◉ Variance at Completion (VAC). Answer: A projection of the amount
of budget deficit or surplus, expressed as the difference between the
budget at completion and the estimate at completion.
= BAC - EAC
◉ Earned Value Management (EVM). Answer: A project performance
measurement technique that integrates scope, time, and cost data
Line graph illustrating PV, AC, EV
◉ Developing a Quality Plan. Answer: Conformance
Client Satisfaction
Client Value
Client Supplier
◉ Conformance Quality. Answer: First Step includes physical quality,
test results, neatness and workmanship (plan, do, check, act)
, ◉ Client Satisfaction Quality. Answer: A measure of the client's
perception of the proccess and benefits received from survey
◉ Client Value Quality. Answer: Relationship between cost and
quantity
Compares results of competition
Benchmark their performance
◉ Client Supplier Model. Answer: Contractors provide outcomes to
client to understand client needs.
◉ Develop Communication Plan. Answer: Project team should
develop communication as part of the overall project plan
Amount of time spent on planning varies depending size, complexity
and risk
◉ Contents of Communication Plan. Answer: Should address
protocols of status, change order, completion reports via email,
whiteboard or meetings
◉ Daily activities should be logged in a __________ and includes a
________ look ahead, produced every week. Answer: diary form , 2-3
week
PAPER EXAM Q&A STUDY GUIDE WITH
VERIFIED SOLUTIONS
◉ Actual Costs (AC). Answer: Amount of money it took to
accomplish the work that was completed.
Goal should be to = PV
◉ Cost Variance (CV). Answer: The amount of budget deficit or
surplus at a given point in time, expressed as the difference between
the earned value and the actual cost.
= EV - AC
Cost baseline comparrison
0 = target
Deficit < 0 > Surplus
◉ Schedule Variance (SV). Answer: A measure of schedule
performance expressed as the difference between the earned value
and the planned value.
= EV - PV
Target = 0
Behind Schedule < 0 > Ahead of Schedule
,◉ Cost Performance Index (CPI). Answer: A measure of the cost
efficiency of budgeted resources expressed as the ratio of earned
value to actual cost.
= EV / AC
Target = 1; 0.95 - 1.05
Over Budget < 1 > Under Budget
Under .90 and above 1.1 is bad
◉ Schedule Performance Index (SPI). Answer: A measure of
schedule efficiency expressed as the ratio of earned value to planned
value.
= EV / PV
Target = 1; 0.95 - 1.05
Behind < 1 > Ahead
Under .90 and above 1.1 is bad
◉ Estimate at Completion (EAC). Answer: = BAC / CPI
Project cost @ Completion if CPI is constant
◉ Estimate to Complete (ETC). Answer: The expected cost to finish
all the remaining project work if CPI remains constant.
= EAC - AC
,◉ To Complete Performance Index (TCPI). Answer: = (BAC - EV) /
(BAC - AC)
CPI needed to meet original budget
Good < 1 > Bad
◉ Variance at Completion (VAC). Answer: A projection of the amount
of budget deficit or surplus, expressed as the difference between the
budget at completion and the estimate at completion.
= BAC - EAC
◉ Earned Value Management (EVM). Answer: A project performance
measurement technique that integrates scope, time, and cost data
Line graph illustrating PV, AC, EV
◉ Developing a Quality Plan. Answer: Conformance
Client Satisfaction
Client Value
Client Supplier
◉ Conformance Quality. Answer: First Step includes physical quality,
test results, neatness and workmanship (plan, do, check, act)
, ◉ Client Satisfaction Quality. Answer: A measure of the client's
perception of the proccess and benefits received from survey
◉ Client Value Quality. Answer: Relationship between cost and
quantity
Compares results of competition
Benchmark their performance
◉ Client Supplier Model. Answer: Contractors provide outcomes to
client to understand client needs.
◉ Develop Communication Plan. Answer: Project team should
develop communication as part of the overall project plan
Amount of time spent on planning varies depending size, complexity
and risk
◉ Contents of Communication Plan. Answer: Should address
protocols of status, change order, completion reports via email,
whiteboard or meetings
◉ Daily activities should be logged in a __________ and includes a
________ look ahead, produced every week. Answer: diary form , 2-3
week
