Ch. 13 Quiz bank

The second step in the project control process for measuring and evaluating project performance is to review spending with team members. measure progress and performance. review the baseline plan with top management. analyze inputs to control system. compare plan against actual.

measure progress and performance.

A reason that the duration on a task may differ from an original duration on a tracking Gantt chart could be the task has been cancelled. a new budget cycle. an unexpected delay. new information on the task. an expected delay.

new information on the task.

A negative CV indicates the project is currently ________ budget. over ahead of behind on track with under

over

A CPI or SPI value less than one indicates that the project is currently under cost or behind schedule. over cost or behind schedule. over cost or ahead of schedule. under cost or ahead of schedule. on cost or on schedule.

over cost or behind schedule.

Given that the AC = 500, PV = 400 and EV = 300, this project is currently _________ budget and ______ schedule. over, ahead of under, behind on, on under, ahead of over, behind

over, behind

Baseline project budgets are derived from time-phasing the work ________. milestones packages products resources modules

packages

When someone familiar with each task estimates what percent of the task has been completed or how much of the task remains, they are creating a method for assigning costs to the baseline called the ____________ rule. percent complete estimation estimated cost estimation method estimated completion

percent complete

The earned value of a project is the percent of the original budget that has been earned by work that is completed. the planned time-phased baseline of the value of work scheduled. project cost to date adjusted for project scope changes. cost incurred minus the planned cost. total project cost to date.

percent of the original budget that has been earned by work that is completed.

The earned value system starts with the time-phased costs that provide the project baseline, which is called the planned budgeted value of work scheduled. planned budgeted value of work completed. scheduled value of work completed. earned value of work scheduled. scheduled value of work scheduled.

planned budgeted value of work scheduled.

The indicator that tells you the planned time-phased value of the work that is scheduled is the _______________. none of these schedule variance (SV) cost variance (CV) planned value (PV) earned value

planned value (PV)

A project can have a negative schedule variance and still be ahead of schedule when progress on the critical path is faster than non-critical path tasks. all budget targets have been achieved. earned value exceeds planned value. None of these alternatives is correct. actual cost exceeds earned value.

progress on the critical path is faster than non-critical path tasks.

A tool used to monitor past project schedule performance and current performance, and to estimate future schedule trends is a simple line chart known as a PERT chart. project control chart. milestone chart. Gantt chart. network diagram.

project control chart.

In monitoring project time (schedule) performance, actual performance should be compared to previous status reports. top management's targets. project network schedule derived from the WBS/OBS. budgets for the current year. progress on similar past projects.

project network schedule derived from the WBS/OBS.

The ________ variance is the difference between the earned value to date and the baseline schedule. budget schedule cost performance time

schedule

The first step in the project control process for measuring and evaluating project performance is to determine the project deliverables. determine the project objectives. set a baseline plan. review the project priority matrix. analyze the project budget.

set a baseline plan.

Which of the following is not one of the four steps for measuring and evaluating project performance? setting a baseline budget setting a baseline plan comparing plan against actual taking action measuring progress and performance

setting a baseline budget

The final step in the project control process for measuring and evaluating project performance is to take appropriate action. prepare a report to top management. review spending with team members. measure progress and performance. follow up on corrective action.

take appropriate action.

Although it is very difficult to measure, measuring ________ performance is as important as measuring schedule and cost performance. risk technical human resources procurement stakeholder

technical

The ________ rule assumes credit is earned for having performed the work once it is completed. This rule is usually used for work packages having very short durations. 50/50 one-to-ten 0/100 one-to-one 50/100

0/100

A project manager receives the following information on his project: PV = 4,500, AC =4,000, EV = 5,000. How well is the project doing in terms of budget? Right on budget 500 over budget 500 under budget 1,000 over budget 1,000 under budget

1,000 under budget

________ is simply the percent complete times the original budget. Actual cost Cost Performance Index Budget at Completion Earned value Schedule Performance Index

Earned value

A project monitoring system involves all of the following EXCEPT Adjusting the data Determining what data to collect Determining how, when, and who will collect the data Reporting current progress Analysis of the data

Adjusting the data

A negative cost variance combined with a negative schedule variance is an indicator of planned value exceeding earned value. budget over-runs. actual cost exceeding earned value. All of these alternatives are correct. behind schedule.

All of these alternatives are correct.

Causes for scope creep can include All of these alternatives are correct. newly identified features. users want more functionality. incorrect design assumptions. new technology.

All of these alternatives are correct.

Which of the following is not a benefit of Earned Value Management? A.Provides for accountability over individual portions of the overall budget for each organization unit. B.Measures accomplishments against plan and deliverables. C.Enables the project manager to ascertain problem paths within the project network and when the critical path is underperforming. D.Provides a method for tracking directly to a problem work package and organization unit responsible. E.Alerts all stakeholders to early identification of problems and allows for quick, proactive corrective action.

C. Enables the project manager to ascertain problem paths within the project network and when the critical path is underperforming.

A program financial accountant learns that a project is currently earning $1.15 for each dollar actually spent. The accountant is able to determine this by looking at the bac SV SPI EV CPI

CPI

A _________Gantt chart is a simple and effective way to depict progress on a The value that tells you how much work has been completed in dollars of value is Planned value Budgeted cost of work scheduled Earned value Baseline plan Q cost

Earned value

A Cost/Schedule graph can be interpreted using ___________ for its vertical axis and _______ for its horizontal axis. Earned Value; Schedule. None of these alternatives is correct. Dates; Actual Cost. Dollar Amounts; Time. Baseline; Deadline.

Dollar Amounts; Time.

The value that tells you the planned value of work that has actually been completed is the AC SV CV PV EV

EV

The cost variance for a project is calculated by EV-PV CV-EV PV-EV AC-SV EV-AC

EV-AC

The schedule variance for a project is calculated by: EV-PV AC-SV CV-EV PV-EV EV-AC

EV-PV

The value that tells you the planned value of work that has actually been completed is the CV. PV. AC. SV. EV.

EV.

Which of the following methods will measure the cost efficiency of the work accomplished to date? EV/PV SV/CV AC/SV EV/AC AC/CV

EV/AC

Which of the following methods will measure the scheduling efficiency of the work accomplished to date? EV/PV AC/CV SV/CV EV/AC AC/SV

EV/PV

Which of the following methods will measure the scheduling efficiency of the work accomplished to date? EV/PV EV/AC AC/CV SV/CV AC/SV

EV/PV

Because of their easy-to-understand visual format, ________ charts are the most favored, used, and understandable tool used to report project schedule status. Gantt Cost/schedule Network Work breakdown structure Burndown

Gantt

Which of the following is NOT true regarding scope creep? It wears down team motivation and cohesiveness. It is frequently unnoticed until time delays or cost overruns are observed. It commonly occurs late in projects. Project suppliers resent frequent changes. Scope changes can represent significant opportunity.

It commonly occurs late in projects.

The chief financial officer receives the following information on a project: PV = 10,000, EV = 12,000, AC = 8,000, BAC = 20,000, EAC = 13,333. How is the project doing in terms of schedule? There is not enough information to draw a conclusion More work has been done than planned The project has cost more than planned Less work has been done than planned The same amount of work has been done than planned

More work has been done than planned

A negative CV indicates the project is currently ________ budget. Under Behind On track with Ahead of Over

Over

Given that the AC = 500, PV = 400 and EV = 300, this project is currently budget and schedule. On, on Over, behind Over, ahead of Under, ahead of Under, behind

Over, behind

The _________ index measures the project percent complete in relation to the resources that were budgeted. EAC PCIB TCPI CPI SPI

PCIB

Which of the following are required to assess the current status of a project using the earned-value cost/schedule system? PV, EV, AC CV, SV, BAC, TCPI, EV, and PV BAC, EAC, and ETC VAC,EAC, and BAC

PV, EV, AC

he indicator that tells you the planned time-phased value of the work that is scheduled is the . Cost variance (CV) Earned value (EV) Schedule variance (SV) Planned value (PV) None of these alternatives is correct

Planned value (PV)

A team leader tells the project manager that as of right now, $1.20 worth of work has been accomplished for each $1 worth of scheduled work. The team leader got this information from viewing the SPI. PCIB. CPI. TCPI. SV.

SPI.

A project manager notices that $5,560 worth of work that was scheduled to be completed at this time has not been accomplished. She knows this by looking at the PCIB SV TCPI EV EAC

SV

Which performance index is the most potentially misleading? EV CV EAC CPI SV

SV

The _______ variance is the difference between the earned value to date and the baseline schedule. Schedule Budget Performance Time Cost

Schedule

The first step in the project control process for measuring and evaluating project performance is to Determine the project deliverables Analyze the project budget Review the project priority matrix Determine the project objectives Set a baseline plan

Set a baseline plan

The indicator that tells you the amount each remaining dollar must earn for the project to stay within budget is the SPI. TCPI. CPI. PCIC. VAC.

TCPI.

The value that tells you how much work has been completed in dollars of value is ___________. actual cost budgeted cost of work scheduled baseline plan planned value earned value

earned value

Baseline project budgets are derived from The total direct, direct project overhead and G&A overhead costs. Top management directions The organization's overall budget Time-phasing the work packages The earned value system

Time-phasing the work packages

Which of the following methods of variance analysis is the best indicator of how far off the budget a project will be at completion? EAC VAC TCPI ETC BAC

VAC

The project network schedule is derived from the _______ and it serves as the baseline to compare against actual performance. Organization Breakdown Structure Risk Breakdown Structure Gantt Chart Work Breakdown Structure Risk Register

Work Breakdown Structure

The start of a task may be moved on a tracking Gantt due to All of these alternatives are correct. increase in earned value. Both an increase in earned value and a lack of an updated control chart. a predecessor task starting late. lack of an updated control chart.

a predecessor task starting late.

Conditions or scope can change during execution, which, in turn, will require a change to the __________ plan to recognize the new information. overall project budget schedule baseline

baseline

Of the following costs, which are NOT included in baseline? suppliers labor contractors equipment budget reserves

budget reserves

A CPI index of 1.18 indicates that the project is currently ________ schedule. behind cannot be determined. ahead of over under

cannot be determined

The third step in the project control process for measuring and evaluating project performance is to analyze inputs to the control system. measure both progress and performance. compare the plan against actual performance. review the baseline plan with top management. review spending with team members.

compare the plan against actual performance.

Taking action in the four steps for measuring and evaluating project performance can only happen after _________. setting a baseline plan. comparing plan against actual. measuring progress and performance. writing a progress and performance report. setting a baseline budget.

comparing plan against actual.

The ________ variance is the difference between the earned value and the actual costs for the work completed to date. time budget schedule performance cost

cost

A project manager just received the following information on her project: PV = 300, EV = 300, AC = 200. In terms of cost at completion, the project will currently finish under budget, assuming the project continues to perform in this way. the project will currently finish on budget, assuming the project continues to perform in this way. the project will currently finish behind schedule, assuming the project continues to perform in this way. the project will currently finish over budget, assuming the project continues to perform in this way. there is insufficient information to draw conclusions

the project will currently finish under budget, assuming the project continues to perform in this way.

When a predecessor task starts late, any slack can be used up very quickly and could move the start of another task. A ___________ Gantt chart is a simple and effective way to depict progress on a project. tracking variance baseline control simple

tracking

Given an EAC of $10,000 and a BAC of $15,000, the project is expected to be completed _________. under budget on budget under budget but behind schedule over budget but ahead of schedule over budget

under budget