PC12 Week 1 - Quiz A - Variance

What is a cost variance?

• Difference between actual and planned costs
• Difference between actual and planned schedule
• Difference between actual and planned quality
• Difference between actual and planned resources

What does SPI stand for in project management?

• Schedule Performance Index
• Schedule Planning Index
• Scope Performance Index
• Scope Planning Index

Which factor can cause a cost variance?

• Accurate scope definition
• Correct distribution of funds
• Excessive front-loading of costs
• Efficient resource management

What is CPI used to measure?

• Cost Performance Index
• Cost Planning Index
• Critical Path Index
• Critical Planning Index

Which issue is an example of a schedule variance?

• Performing work in the correct sequence
• Accurate cost estimates
• Rework due to poor quality management
• Efficient use of labour

What is a false variance?

• Baseline misalignment
• Material price increases
• Adverse weather
• Labour productivity issues

Which of the following can lead to a real variance?

• Data entry errors
• Unapproved baseline changes
• Baseline misalignment
• Schedule delay due to adverse weather

What is an effective way to distinguish between real and false variances?

• Ignore baseline accuracy
• Only rely on one data source
• Analyse trends over time
• Avoid site team engagement

What issue can cause a schedule variance?

• Correct equipment usage
• Labour shortage
• Efficient labour use
• Detailed scheduling

Which of the following is an example of poor project planning?

• Accurate progress reporting
• Inefficient labour use
• Correct sequencing of tasks
• Detailed scheduling