I should note first you have a typo there - there is no such thing as Standard Variance. There is Variance and Standard Deviation. The other point is that there is much they are not telling you becaurse the level of math required to understand the real meaning of these statistic's is above the PMI level.

You can get an intuitive understanding of the std deviation and that is simply that the standard deviation is a measure of distance from the mean. This is true for any set of numbers be they the project or a single project activity.

The variance has no intuitive interpretation, it is simply something that needs to be calculated in order to get to the standard deviation. (I know the PMI do directly calculate the std dev, but thats just them dumbing down the real math).

Regardless the following is what you need to know:

1. The project mean is the sum of the activity means.

2. The project variance is the sum of the activity variances. (Of course if you are given the activity std devs you would have to take the square root of each to come up with the variance of each)

3. The project std dev is the square root of the project variances.

My best advice is don't worry about it - Unlikely you will see it on the exam. Apologies I may have confused you more with the explanation.

I should note first you have a typo there - there is no such thing as Standard Variance. There is Variance and Standard Deviation. The other point is that there is much they are not telling you becaurse the level of math required to understand the real meaning of these statistic's is above the PMI level.

You can get an intuitive understanding of the std deviation and that is simply that the standard deviation is a measure of distance from the mean. This is true for any set of numbers be they the project or a single project activity.

The variance has no intuitive interpretation, it is simply something that needs to be calculated in order to get to the standard deviation. (I know the PMI do directly calculate the std dev, but thats just them dumbing down the real math).

Regardless the following is what you need to know:

1. The project mean is the sum of the activity means.

2. The project variance is the sum of the activity variances. (Of course if you are given the activity std devs you would have to take the square root of each to come up with the variance of each)

3. The project std dev is the square root of the project variances.

My best advice is don't worry about it - Unlikely you will see it on the exam. Apologies I may have confused you more with the explanation.