Podcast
Questions and Answers
What is the schedule performance index (SPI) value for the project mentioned in the text?
What is the schedule performance index (SPI) value for the project mentioned in the text?
What does a schedule performance index (SPI) value less than 1 indicate about the project's progress?
What does a schedule performance index (SPI) value less than 1 indicate about the project's progress?
What action would be taken to bring the project back on track based on the SPI value mentioned in the text?
What action would be taken to bring the project back on track based on the SPI value mentioned in the text?
What does a cost performance index (CPI) value greater than 1 indicate about the project's progress?
What does a cost performance index (CPI) value greater than 1 indicate about the project's progress?
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Which technique involves performing activities in parallel to speed up the project timeline?
Which technique involves performing activities in parallel to speed up the project timeline?
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What does a cost performance index (CPI) value of 1.12 suggest about the project's budget?
What does a cost performance index (CPI) value of 1.12 suggest about the project's budget?
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What is one way to interpret a schedule performance index (SPI) value greater than 1?
What is one way to interpret a schedule performance index (SPI) value greater than 1?
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What is the primary reason for choosing schedule crashing to get a project back on track?
What is the primary reason for choosing schedule crashing to get a project back on track?
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What is another term for working on different items in sequence rather than in parallel?
What is another term for working on different items in sequence rather than in parallel?
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How would reducing the project scope potentially help in getting a project back on track?
How would reducing the project scope potentially help in getting a project back on track?
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Study Notes
Project Performance Indices
- SPI (Schedule Performance Index) measures the project's progress against its schedule.
- SPI < 1 indicates the project is behind schedule.
- CPI (Cost Performance Index) > 1 indicates the project is under budget.
Bringing the Project Back on Track
- A low SPI value indicates the need to get the project back on track.
- Schedule crashing can be used to get a project back on track by adding more resources to critical tasks.
- The primary reason for choosing schedule crashing is to reduce the project duration.
Project Scheduling Techniques
- Fast tracking involves performing activities in parallel to speed up the project timeline.
- Phasing is another term for working on different items in sequence rather than in parallel.
Project Recovery Strategies
- Reducing the project scope can help get a project back on track by eliminating non-essential tasks.
- A high CPI value (e.g. 1.12) suggests the project is currently under budget.
- An SPI value > 1 suggests the project is ahead of schedule.
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Description
Test your knowledge of project management by evaluating the earned value management scenario given. Learn about schedule performance index (SPI) and cost performance index (CPI) values to make decisions for bringing a project back on track.
