PMI Scheduling Professional (PMI-SP) — Question 29

You are the project manager of the NHQ project. Your project has a budget of $1,258456 and is scheduled to last for three years. Your project is currently forty percent complete though it should be forty-five percent complete. In order to reach this point of the project, you have spent $525,000. Management needs a performance report regarding the NHQ project. Management is concerned that this project will be over budget upon completion. Based on the current performance value what should you report to management regarding the variance at completion?

Answer options

• A. -$21,618
• B. -$62,922
• C. Zero - you would not know what this will cost until the project is complete.
• D. -$54,044

Correct answer: D

Explanation

The correct answer is D, as it reflects the negative variance indicating that the project is behind schedule and potentially over budget. The other options do not accurately calculate the variance at completion based on the provided budget and expenditure data, thus misrepresenting the project's financial status.