5. Project Controls

Forecasting Techniques — Quiz

Test your understanding of forecasting techniques with 5 practice questions.

Practice Questions

Question 1

Which forecasting technique involves creating multiple possible future scenarios to assess potential outcomes and risks in a construction project?

Question 2

A construction project has a 'Budget at Completion' (BAC) of $3,000,000$. The 'Earned Value' (EV) is $1,200,000$ and the 'Actual Cost' (AC) is $1,500,000$. What is the 'Estimate at Completion' (EAC) if the current 'Cost Performance Index' (CPI) is expected to continue?

Question 3

In the context of schedule forecasting, what does a 'Schedule Performance Index' (SPI) of $0.9$ signify?

Question 4

Which of the following is a primary characteristic of short-term forecasting in construction management?

Question 5

A construction project has an 'Earned Value' (EV) of $180,000$, a 'Planned Value' (PV) of $200,000$, and an 'Actual Cost' (AC) of $190,000$. What is the 'Schedule Variance' (SV) and 'Cost Variance' (CV) for this project?