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What is Cost Performance Index (CPI) and how do I use it for the PMP exam?

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I’m going through the cost management section of my PMP prep and I'm struggling with the Cost Performance Index (CPI). I know it has to do with tracking how well the project is doing budget-wise, but I’m still a little confused on exactly what it measures, how to calculate it, and how it might be asked on the exam. Can someone please help??