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The cabinet procurement and delivery must be completed by December 1. By scheduling the activity to finish on December 1 with minus 45 days lead time for procurement, the cabinets will arrive by the needed date.

Answer option A is incorrect. Lead time is always negative time, lag time is positive time. This choice would cause the cabinets to not arrive until 45 days after December 1.

Answer option D is incorrect. This choice would cause the cabinets to arrive on December 15 when the floors are to be installed.

Answer option B is incorrect. This choice is not the best answer because it does not necessarily account for holidays, weekends, or other factors in the project calendar. By scheduling the cabinet for December 1 and working backwards through lead time, the project's PMIS will account for these breaks in the project work.

Parametric estimates are created for repetitive tasks, such as four hours per unit installed; 1,000 units to install would equate to 4,000 hours. A template does not address this type of time estimating directly. A template for time estimating is an analogous estimate type. A template for any project is an activity list or a part of the activity list from a previous project. The template contains the activity attributes information and other vivid information that are helpful to define activities. It is also used to classify schedule milestones.

Answer option D is incorrect. Templates can include activity attribute information.

Answer option A is incorrect. Templates do indicate milestones.

Answer option C is incorrect. Templates can save time for the project manager and the project team.

The scheduling tool is the only other tool that can help Winnie to create an updated project schedule. The scheduling tool is used in combination with manual methods or further project management software to carry out the schedule network analysis to produce an updated project schedule.

Answer option A is incorrect. The critical path method can be analyzed, but it is a part of the project management information system. In addition, the critical path is not better or worse than the critical chain method so by having both answers among the choices both answers are cancelled.

Answer option D is incorrect. The critical chain method can be analyzed, but it is the part of the project management information system. In addition, the critical path is not better or worse than the critical path method so by having both answers among the choices both answers are cancelled.

Answer option B is incorrect. The schedule management plan may need to be referenced to create a new project schedule, but it is not a tool that Winnie can use.

The schedule variance is found by subtracting the planned value from the earned value. The earned value is the percentage of the project completeness multiplied by the BAC. Planned value is the percetage of where the project should be at this time multiplied by the BAC. Schedule variance (SV) is a measure of schedule performance on a project. The variance notifies that the schedule is ahead or behind what was planned for this period in time. The schedule variance is calculated based on the following formula:

SV = Earned Value (EV) - Planned Value (PV)

If the resulting schedule is negative, it indicates that the project is behind schedule. A value greater than 0 shows that the project is ahead of the planned schedule. A value of 0 indicates that the project is right on target. In this example,

EV = 40% of BAC

= 300,000, and

PV = 50% of BAC

= 375,000

SV = 300,000 - 375,000

= -75,000

Answer options C, B, and D are incorrect. These are not the correct values for the schedule variance.

The schedule baseline is a required component of the project management plan. Project management plan is a formal, agreed document that defines how the project is executed, monitored and controlled. It may be summary or detailed and may be composed of one or more subsidiary management plans and other planning documents. The objective of a project management plan is to define the approach to be used by the project team to deliver the intended project management scope of the project. The project manager creates the project management plan with the inputs from the project team and key stakeholders. The plan should be agreed and approved by at least the project team and its key stakeholders.

Answer option C is incorrect. The schedule baseline is not a project objective.

Answer option A is incorrect. The project calendar defines when the project will take place.

Answer option B is incorrect. Project constraints are restrictions imposed on the project, such as time, cost, and scope.