A new project manager is assigned in the middle of a seven-month project. The project is behind schedule, and there is only historical weekly cost data available. Which of the following best…

The correct answer is A. Review the SPI. With only historical weekly cost data available, the new project manager should use Earned Value Management (EVM) metrics to quickly assess project performance. The Schedule Performance Index (SPI = EV/PV) is derived directly from cost-based data (Earned Value and Planned…

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Question

A new project manager is assigned in the middle of a seven-month project. The project is behind schedule, and there is only historical weekly cost data available. Which of the following best practices should the project manager perform to assess project costs?

Options

AReview the SPI.
BCreate a burndown chart.
CAsk the project sponsor for additional funding.
DPerform a cost benefit analysis.

How the community answered

(29 responses)

A
62% (18)
B
21% (6)
C
10% (3)
D
7% (2)

Explanation

With only historical weekly cost data available, the new project manager should use Earned Value Management (EVM) metrics to quickly assess project performance. The Schedule Performance Index (SPI = EV/PV) is derived directly from cost-based data (Earned Value and Planned Value), making it the most appropriate tool given the available information. A burndown chart (B) is an Agile artifact and not applicable here. Asking for additional funding (C) is premature before a proper assessment is done. A cost-benefit analysis (D) is performed before a project begins, not during execution. Reviewing the SPI gives the new PM a quantitative baseline to understand how efficiently the project has been progressing relative to the plan.

Topics

#SPI#earned value management#cost performance#schedule performance index

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