RMC Project Management Inc.

The Numbers Game

Copyright 2013 RMC Project Management, Inc. All Rights Reserved.
10953 Bren Road East Minnetonka, MN 55343
info@rmcproject.com www.rmcproject.com (952) 846-4484
The copyright owner hereby grants permission to make copies of this handout for personal, noncommercial use only.
2013 RMC Publications, Inc 952.846.4484 info@rmcproject.com www.rmcproject.com
Te following game is designed to improve your ability to correctly answer questions on the exam that deal with
numbers (including formulas, analysis techniques, estimates, critical paths, accounting terms related to project
selection, etc.). Tese questions are based on information in the Integration, Time, Cost, and Procurement
Management chapters. Te game is best done verbally with more than one person. Te second person can be a
spouse, child, or someone else studying for the PMP exam.
Cut out the cards along the lines provided. Try to answer as many questions as you can in 10 minutes. If you
answer 10 questions correctly in ten minutes, this should prove to you that you will not have a time problem taking
the exam. (Te exam allows about 1 minute, 15 seconds per question.) GOOD LUCK!
For One Participant Ask yourself the question and then turn the card over to see the answer.
For Two Participants One person asks the questions, and the other answers.
For More Tan Two Participants One person asks the questions, and the others answer. One of those
answering should also keep track of the number of correct answers.
2013 RMC Publications, Inc 952.846.4484 info@rmcproject.com www.rmcproject.com
Question:
What is the formula for
cost performance index
(CPI)?
Question:
What estimating method
would use optimistic time
estimates?
Question:
Te estimated value of the
work that will be done has
what earned value name?
Question:
What is the critical path?
Question:
Te types and quantities
of resources required are
calculated in what part of
time management?
Question:
What does the schedule
variance tell you?
Question:
What schedule network
analysis technique involves
crashing?
Question:
What does a fnish-to-start
relationship mean?
Question:
What does the estimate at
completion tell you?
Question:
Why would you want to
crash a project?
Question:
A sofware technique that
uses the network diagram
and estimates to simulate
project outcome is known
as?
Question:
What are sunk costs?
Question:
What does a milestone
chart show?
Question:
What is the duration of a
milestone?
Question:
What is analogous
estimating?
Print two-sided for the answers to appear on the back side of the question cards
2013 RMC Publications, Inc 952.846.4484 info@rmcproject.com www.rmcproject.com
Answer:
Planned value
Answer:
Tree-point estimate
Answer:
EV
AC
Answer:
How far you are behind or
ahead of schedule
Answer:
Estimate Activity Resources
Answer:
Te longest duration path
in the network;
the shortest time to
complete the project
Answer:
What we now expect the
total project to cost
Answer:
One activity must fnish
before the next can start
Answer:
Schedule compression
Answer:
Expended costs
Answer:
Monte Carlo analysis
Answer:
To shorten the project
duration
Answer:
Top-down estimating
Answer:
Zero
Answer:
Dates of signifcant events
on the project
Print two-sided for the answers to appear on the back side of the question cards
2013 RMC Publications, Inc 952.846.4484 info@rmcproject.com www.rmcproject.com
Question:
What are fxed costs?
Question:
What are direct costs?
Question:
What is the earned value
name for how much you
have spent to date?
Question:
What is value analysis?
Question:
What is a management
reserve?
Question:
What is the cost variance
formula?
Question:
Cost risk is greater for
the buyer in what type of
contract?
Question:
What schedule network
analysis technique uses
bufers?
Question:
What does present value
mean?
Question:
What is the formula for
calculating foat?
Question:
Why would a project
manager want to use
resource leveling?
Question:
What does a beneft cost
ratio of 2.5 mean?
Question:
A critical path activity will
generally have how much
foat?
Question:
What is parametric
estimating?
Question:
What is the range of
accuracy with a rough
order or magnitude
estimate?
Print two-sided for the answers to appear on the back side of the question cards
2013 RMC Publications, Inc 952.846.4484 info@rmcproject.com www.rmcproject.com
Answer:
Actual cost
Answer:
Costs incurred directly by
the project
Answer:
Costs that do not change
with project activity
Answer:
EV AC
Answer:
An amount of time or
money set aside to cover
unforeseen risks
Answer:
Finding a less costly way to
complete the work without
afecting quality
Answer:
Te value today of future
cash fows
Answer:
Critical chain method
Answer:
Cost-reimbursable
Answer:
Te benefts are 2 times
the costs
Answer:
To smooth the
peaks and valleys of
monthly resource usage
consumed by the project
Answer:
LS ES, or LF EF;
this is the amount of time
an activity can be delayed
without delaying the
project
Answer:
-25 to +75 percent
Answer:
Looking at the relationships
between variables on an
activity to create estimates
(e.g., dollars per foot)
Answer:
Zero
Print two-sided for the answers to appear on the back side of the question cards