Final answer:
The SPI and CPI are measurements you can use to compare project to project cost and schedule performance. SPI assesses time efficiency, while CPI evaluates cost efficiency in project management.
Step-by-step explanation:
The measurements you can make and compare project to project cost and schedule performance are the Schedule Performance Index (SPI) and the Cost Performance Index (CPI). The correct answer is a) SPI and CPI. These are essential metrics used in project management to assess the efficiency and financial health of a project.
SPI measures the efficiency of time utilized in the project and is calculated by dividing the earned value (EV) by the planned value (PV), where SPI = EV / PV. An SPI of 1 indicates that the project is on schedule, an SPI greater than 1 indicates the project is ahead of schedule, and an SPI less than 1 indicates the project is behind schedule.
CPI measures cost efficiency and is determined by dividing the earned value by the actual cost (AC) of the project, where CPI = EV / AC. A CPI of 1 means the project is on budget, a CPI above 1 indicates that it's under budget, and a CPI below 1 signals it's over budget.