PMI-SP Exam Dumps : PMI Scheduling Professional

The graphic shown in the figure is a communications bull's eye. The project manager must keep the project within the boundaries defined by the bull's eye or he will need to generate a performance report. This is an example of management by exception because the project manager only communicates with management when there is an exception, or variance, within the project.

Answer options C, B, and D are incorrect. These are not valid terms for the communications bull's eye.

An activity is an individual element of work that is logically linked to other activities to form the schedule. Its primary characteristics include an overall duration based upon the resources applied to it (manpower, material, and equipment), as well as a start and completion date that is tied to a work calendar. It also has a relationship with other activities (predecessors and successors).

Your schedule variance is -$33,750. You can find this by using the formula earned value-minus planned.

Answer option C is incorrect. Cost is not the largest variance in the project.

Answer option A is incorrect. Cost is not the largest variance in the project (it is -$8,000).

Answer option D is incorrect. -$20,000 is the variance at completion for the project.