BICSI RTPM CORRECT EXAMS ANSWERS AND
QUESTIONS SET A+
✔✔How do you assess a risk - ✔✔Analysis: Probability/ Impact
Identify: What, when, how can go wrong
Mitigation :Tolerance/ Contingeny
✔✔Systematically identify risks by - ✔✔Lessons Learned
Previous data
Brainstorming / SWOT chart
Cause and Effect Diagram
✔✔Risk Identification Process - ✔✔Should be done with as many key individuals as
possible
✔✔Risk information is derived from - ✔✔Analysis of high level deliverables
Analysis of WBS and Network Diagram
Analysis of Change Request
Project Team Input
Stakeholders Input
✔✔Risk Triggers - ✔✔Events that warn of occurance of risks
These are determined during risk identification
✔✔Risk Analysis Methods - ✔✔Qualitative and Quantitative
✔✔Qualitative Risk Analysis - ✔✔Qualifies the expected impact of cost, time, quality
(Hi, Mid, Low)
✔✔Quantitative Risk Analysis - ✔✔measuring the probability and consequences of risks
as well as estimating their implications for the project objectives. Rank and multiply
✔✔Risk Severity Grid - ✔✔Captures Quantitative analysis, (time, cost, quality, risk
proximity)
,✔✔Risk Planning Mitigation Techniques - ✔✔Avoidance
Sharing
Transference
Moderation
Acceptance
✔✔Stakeholder MGMT - ✔✔Each Stakeholder must be analyzed: how they affect/
affected by the project.
Stakeholders are given a rank based on their authority/ interest level
✔✔Developing an Organizational Breakdown Structure (OBS) - ✔✔Identify people and
organizations needed to complete the project
Shows responsibility for other team members, let's everyone know their role and
includes phone#, email, clients team
✔✔Work Breakdown Structure - ✔✔Must cover projects end product and:
Planning the project
Implementing the project
Closing out the project
Diagrammed as tree or outline structure
(Should be very specific)
✔✔Developing a schedule using PERT - ✔✔Network diagrams to identify predecessor
and successor relationships
✔✔What are the dependencies of PERT - ✔✔Finish - Start
Finish - Finish
Start - Finish
Start - Start
✔✔Analogus Estimates - ✔✔Based on similar work done in the past
✔✔Parametric Estimates - ✔✔dollar/ foot
✔✔Engineering Estimates - ✔✔Developed by client
✔✔Subcontractor Estimates - ✔✔Special tools and skills
✔✔Definitive Estimates - ✔✔Based on Materials and Labor
✔✔Bottom-Up Estimates - ✔✔Uses WBS Tasks
✔✔Pert Estimates - ✔✔(Optimistic + (Most Likely*4) + Pessimestic)/6
, ✔✔Four Versions of the Schedule Using the PERT Formula - ✔✔Optimistic View
Most Likely View
Pessimistic View
PERT View
✔✔Planned Value (PV) - ✔✔The authorized budget assigned to scheduled work.
Formerly known as BCWS
The total value for the project is Budget @ Completion
✔✔Earned Value (EV) - ✔✔The measure of work performed
✔✔Actual Costs (AC) - ✔✔Amount of money it took to accomplish the work that was
completed.
Goal should be to = PV
✔✔Cost Variance (CV) - ✔✔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) - ✔✔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) - ✔✔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) - ✔✔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) - ✔✔= BAC / CPI
Project cost @ Completion if CPI is constant
QUESTIONS SET A+
✔✔How do you assess a risk - ✔✔Analysis: Probability/ Impact
Identify: What, when, how can go wrong
Mitigation :Tolerance/ Contingeny
✔✔Systematically identify risks by - ✔✔Lessons Learned
Previous data
Brainstorming / SWOT chart
Cause and Effect Diagram
✔✔Risk Identification Process - ✔✔Should be done with as many key individuals as
possible
✔✔Risk information is derived from - ✔✔Analysis of high level deliverables
Analysis of WBS and Network Diagram
Analysis of Change Request
Project Team Input
Stakeholders Input
✔✔Risk Triggers - ✔✔Events that warn of occurance of risks
These are determined during risk identification
✔✔Risk Analysis Methods - ✔✔Qualitative and Quantitative
✔✔Qualitative Risk Analysis - ✔✔Qualifies the expected impact of cost, time, quality
(Hi, Mid, Low)
✔✔Quantitative Risk Analysis - ✔✔measuring the probability and consequences of risks
as well as estimating their implications for the project objectives. Rank and multiply
✔✔Risk Severity Grid - ✔✔Captures Quantitative analysis, (time, cost, quality, risk
proximity)
,✔✔Risk Planning Mitigation Techniques - ✔✔Avoidance
Sharing
Transference
Moderation
Acceptance
✔✔Stakeholder MGMT - ✔✔Each Stakeholder must be analyzed: how they affect/
affected by the project.
Stakeholders are given a rank based on their authority/ interest level
✔✔Developing an Organizational Breakdown Structure (OBS) - ✔✔Identify people and
organizations needed to complete the project
Shows responsibility for other team members, let's everyone know their role and
includes phone#, email, clients team
✔✔Work Breakdown Structure - ✔✔Must cover projects end product and:
Planning the project
Implementing the project
Closing out the project
Diagrammed as tree or outline structure
(Should be very specific)
✔✔Developing a schedule using PERT - ✔✔Network diagrams to identify predecessor
and successor relationships
✔✔What are the dependencies of PERT - ✔✔Finish - Start
Finish - Finish
Start - Finish
Start - Start
✔✔Analogus Estimates - ✔✔Based on similar work done in the past
✔✔Parametric Estimates - ✔✔dollar/ foot
✔✔Engineering Estimates - ✔✔Developed by client
✔✔Subcontractor Estimates - ✔✔Special tools and skills
✔✔Definitive Estimates - ✔✔Based on Materials and Labor
✔✔Bottom-Up Estimates - ✔✔Uses WBS Tasks
✔✔Pert Estimates - ✔✔(Optimistic + (Most Likely*4) + Pessimestic)/6
, ✔✔Four Versions of the Schedule Using the PERT Formula - ✔✔Optimistic View
Most Likely View
Pessimistic View
PERT View
✔✔Planned Value (PV) - ✔✔The authorized budget assigned to scheduled work.
Formerly known as BCWS
The total value for the project is Budget @ Completion
✔✔Earned Value (EV) - ✔✔The measure of work performed
✔✔Actual Costs (AC) - ✔✔Amount of money it took to accomplish the work that was
completed.
Goal should be to = PV
✔✔Cost Variance (CV) - ✔✔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) - ✔✔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) - ✔✔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) - ✔✔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) - ✔✔= BAC / CPI
Project cost @ Completion if CPI is constant
