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The benefit of obtaining the Planning & Scheduling Professional (PSP) Exam Certification

Certifications offered by the Association for the Advancement of Cost Engineering (AACE) have been a mark of distinction for more than thirty years, and more and more employers are requiring these certifications as a prerequisite for jobs. PSP is one of AACE’s commonly recognized qualifications that cover subjects related to the preparation and scheduling of projects. Obtaining an AACE qualification also leads to greater peer acceptance and increases job and income prospects.

While a licensed professional engineer is usually considered “certified” in any field in which he or she works (imposing self-discipline to not “practice outside one’s areas of expertise”), for both licensed engineers and unlicensed technicians, the national mood is to require certification in specialty disciplines. A welcome response to the increased power of our software tools in education and training in theory as well as practice and qualification regulated by our professional societies, such as AACE (with the PSP exam noted above and PMI (with the PMI-SP exam).

How much Planning & Scheduling Professional (PSP) Exam Cost

The cost of this exam differs according to the region from where you are applying from and the exact amount of the exam will be available when you complete the application at AACE’s website and proceed to the payment section. Roughly speaking, it costs around USD 200. Hover on to the official website of AACE by clicking Apply now button from this website and choose your region for more pricing information. Other costs may also incur like buying the PSP exam dumps and then practicing for the exam via the PSP practice exams. If you have an AACE membership or you do apply for one, the certifications will be offered to you at discounted prices.

NEW QUESTION 39
As a change to the network for the current update, activity 6002 is required to begin ten days after the beginning of activity 6001. Which is the simplest logic organization?

 A start-to-start relationship with a ten-day lag assigned to activity 6001; activity 6002 will be dependent on activity 6001

 A start-to-start to relationship for both activities 6001 and 6002 with a ten-day lag assigned to activity
6002.

 A start-to-finish relationship with both activities 6001 and 6002 having a ten-day lag

 A finish-to-start relationship with a ten-day lag assigned to activity 6002; activity 6001 will be dependent on activity 6002

NEW QUESTION 40
Which activity is drawn in the incorrect position?

 Activity G.

 Activity E.

 Activity C.

 Activity D.

NEW QUESTION 41
How many work days does it take to move the product from testing to sale?

 60.

 70.

 100.

 90.

NEW QUESTION 42
Identify the late finish to develop plans and specs.

 9 months.

 10 months.

 8 months.

 7 months.

NEW QUESTION 43
Which of the following types of delay will NOT result in a time extension and additional compensation for a contractor?

 Non-excusable delay

 Compensable delay

 Non-compensable delay

 Excusable delay

NEW QUESTION 44
Which of the following are NOT normally included in the project scope statement, either directly or by reference?

 Project objectives in terms of cost, schedule and quality measures

 Project contract between the contractor and owner

 Project justification

 Project deliverables

NEW QUESTION 45
Determine the correct formula and date for the late start for Activity 9001.

 The early finish is required in order to determine the answer.

 LS.6001 Dur.6001 -> 11-20-02.

 There is insufficient data provided to calculate the answer.

 LF.9001 Dur.9001 -> 11-20-02.

NEW QUESTION 46
Using the “normal” schedule, and assuming you are billing on the last day of the month for previous month and for appropriate partial months, how many invoices will you have for this project?

 42.

 36.

 40.

 37.

NEW QUESTION 47
If no time extensions are granted and all actual delays are as described above, what will the total float calculation be at the end of the project?

 0 calendar days.

 -14 calendar days.

 -20 calendar days.

 10 calendar days.

NEW QUESTION 48
An earned value-based project control system can use either of which two budgets as the basis of its calculations?

 Labor hours or dollars.

 Direct or indirect cost.

 Earned or budgeted cost yearly.

 Linear feet or dollars.

NEW QUESTION 49
Scenario:
The entire network consists of the following activities and relationships. Activity A is twenty days long and is tied to Activity B, a ten-day activity, with a finish-to-finish tie with a lag value of five Activity B is tied to Activity C, a twenty-day activity, with a start-to-start relationship with a lag value of five.

PSP Activities Table
Scope Known about Rock-Filled Dam Project:
The dam requires river diversion and work over two or more rainy seasons. The contract is lump sum, competitively bid, and will be self-performed. The owner has attempted to shift all risk to the contractor by employing “no differing sit conditions” and “no damage for delay” clauses. There is a bonus/penalty provision of $2,500 per calendar day for early or late delivery. The early completion bonus is capped at $500,000, with no cap for late delivery penalty.
Liquidated damages end at the finish of demobilization. Indirect costs per calendar day are $2,800 for the
“normal” schedule and $3,200 for the “crashed” schedule. The winter/wet weather season is 151 days between October 15 and March 25 of each year, reduces the efficiency of the contractor’s operations by 20% and costs the contractor $10,000 per day. Assume a start date of March 5, 2001 and use a 7-day work week.
The following table lists work activities as planned by the contractor.

Theoretically construct a summary activity for only those activities with a finish-to-start relationship for Activities 8001 through 10001. Using the “normal” schedule, what is the cost of this hammock?

 $420,000.

 $307,000.

 $524,000.

 $552,000.

NEW QUESTION 50
In a “crashed” schedule, which is a chain of activities that precede activity 2004?

 1001, 2001, 2002, 2003

 2001, 2002, 2003, 2007

 1001, 2002, 2003

 1001, 2002, 2002, 2003, 3001

NEW QUESTION 51
Which of the following project planning situations is the most frequent contributor to cost overruns?

 lack of detailed planning for operational start-up

 Insufficient planning for change management

 Inappropriate definition of work breakdown structure

 Inadequate definition of scope at the estimate (budget) stage

NEW QUESTION 52
Assuming that you had only one crane capable of 30 lifts per day, 3 column pours requiring 28 lifts each, plus associated assorted work requiring an additional 150 lifts, what is the minimum planned working duration for this work?

 8 work days

 18 work days

 7 work days

 15 workdays

NEW QUESTION 53
Using the “normal” schedule, if you start Activity 7001 on April 1, 2002, and using a 5-day workweek, what the finish date for Activity 7001?

 06-11-02.

 06-04-02.

 06-18-02.

 06-05-02.

NEW QUESTION 54
Why does activity 11001 not show successor activities?

 The early finish and late finish are circular

 It is the penultimate work required for the project

 The scheduler forgot to add the successor activities

 It is the final activity for the required work for the project

NEW QUESTION 55
Using the “normal” schedule, theoretically construct a hammock for activities 2001 through 2004. What is the duration of the hammock?

 91 days

 183 days

 193 days

 168 days

NEW QUESTION 56
Activity 1001 started on the scheduled date but has slipped 10 days. Activity 10002 will slip 35 days. All remaining activities retain their original duration. What is the revised completion date?

 02-19-04

 03-21-04

 03-11-04

 03-20-04

NEW QUESTION 57
What is the relationship depicted between Activity G and Activity H?

 You cannot tell with the supplied information.

 Start-to-start.

 Finish-to-start.

 Finish-to-finish.

NEW QUESTION 58
In its simplest form, what is the main drawback of critical path method scheduling?

 It requires a backward pass to calculate late dates.

 It assumes that resources are unlimited.

 It doesn’t account for interdependent between activities.

 It allows for Precedence Diagramming Method to be used in place of Arrow Diagramming Method.

NEW QUESTION 59
Determine the driving activity for Activity 10001.

 Activity 11001.

 Activity 10002.

 Activity 9005.

 There is no driving activity for Activity 10001 in the backward pass.

 Loading …

Topics of Planning & Scheduling Professional (PSP) Exam

The Planning & Scheduling Professional (PSP) Exam consists of two main sections, Planning and Scheduling, each further broken down into two sub-sections. The core topics for each of the two sections are listed below. These contents are likely to be used for the examination. However, on any particular delivery of the test, other similar topics could also appear.

Applicants are recommended to use these contents and/or other resources including PSP exam dumps where possible to provide background information on the exam objectives. The syllabus for the Planning & Scheduling Professional (PSP) Exam is listed below with detail of each section and their topics:

1. Planning – PLANNING DEVELOPMENT

Learning Objectives:

• Understand the fundamental concepts of the planning process and its terminology.
• Effective implementation of a plan results in a schedule.
• Scaling of the planning process must be appropriate and equally weighted to each phase of work to achieve a balanced and usable product.
• When conditions change, the planning process and deliverables should be examined and updated as necessary. The plan for one phase of a project offers a pattern for developing the plan or next phase of the project as well as the project as a whole.
• Recognize that the planning process is a dynamic process repeated throughout each phase of a program or project life cycle.

Objectives covered by this section:

INPUT & DATA

• Contract Requirements
• Change management
• Delivery methods
• Identification of Stakeholders
• Contract types
• Constructability Methods

CONSIDERATIONS & CONSTRAINTS

• Stakeholder Consideration
• Project Variables
• Value Engineering
• Identification of Resources

2. Planning – PLANNING PRODUCT

Objectives covered by this section:

OUTPUT & DELIVERABLES

• Define the Project Plan
• Define the Scope of Work
• Review by Stakeholders
• Establish Cost Breakdown Structure
• Establish Work Breakdown Structure
• Phase Definition
• Baseline Plan
• Establish Organization Breakdown Structure

3. Scheduling – Schedule Development

Objectives covered by this section:

Input & Data

• Breakdown structure relationships
• Define Schedule and scope
• Schedule specification
• Feedback from stakeholders
• Cost estimation model

Creating Schedule

• Constraints and calendars
• Activities
• Schedule quality analysis
• Cost and resources
• Relationships
• Milestones
• Durations
• Types of schedule

4. Scheduling – Schedule Maintenance & Controlling

Objectives covered by this section:

Maintain Schedule

• Baseline scheduling
• Cost & resource management
• Schedule change management
• Schedule maintenance feedback

Output and Deliverables

• Schedule forecasts
• Control level schedules
• Constructability review
• Progress reports and reviews

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