Western Governors University (WGU) MGMT3400 C722 Project Management Practice Exam

The Percent Complete Index Budget (PCIB) is a valuable metric in project management that specifically measures the amount of work completed relative to the budget allocated for that work. This metric gives project managers insight into how efficiently resources are being utilized in terms of both time and money.

By comparing the earned value of work completed to the planned budget for that work, PCIB allows project managers to determine if the project is on track, behind, or ahead in terms of both budget and progress. A high PCIB indicates that the project is progressing effectively within its financial constraints, whereas a low PCIB could signal inefficiencies or issues that need to be addressed.

This focus on the relationship between work completed and budget is essential for tracking overall project health and making informed decisions about future actions.