Chapter 13

In month 9 the following project information is available: Actual cost is $1,800 Earned value is $1,900 Planned cost is $2,200. Compute the CV and SV for the project.

CV = $100 SV = $-300 Explanation CV = EV − AC = $1,900 − $1,800 = $100 SV = EV − PV = $1,900 − $2,200 = $(300)

On day 51 a project has an earned value of $600, an actual cost of $570, and a planned cost of $550. Compute the SV, CV, and CPI for the project. (Round your "CPI" answer to 2 decimal places.)

CV = $30 SV = $50 CPI = 1.05 Explanation CV = EV − AC = $600 − $570 = $30 SV = EV − PV = $600 − $550 = $50CPI = EV/AC = 600 / 570 = 1.05

In month 9 the following project information is available: Actual cost is $2,100 Earned value is $1,900 Planned cost is $2,400. Compute the CV and SV for the project.

The CV is ($200) The SV is (500)

On day 51 a project has an earned value of $550, an actual cost of $640, and a planned cost of $570. Compute the SV, CV, and CPI for the project. (Round your "CPI" answer to 2 decimal places.)

The CV is ($90) The SV is ($20) The CPI is (.86)

Refer to the Snapshot from Practice, Pseudo-Earned Value Percent Complete Approach assigns ________ to work packages that have not started. a. 0% b. 25% c. 50% d. 75% e. 100%

a. 0%

What is true of BAC and EAC? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply a. BAC factors in new cost estimates that have been made by project participants. b. EAC is always an estimate. c. BAC is a performance ratio. d. EAC can be determined using more than one method. e. BAC is the planned budget at completion.

a. BAC factors in new cost estimates that have been made by project participants. b. EAC is always an estimate. c. BAC is a performance ratio. d. EAC can be determined using more than one method. e. BAC is the planned budget at completion.

What is true of the project baseline? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply a. Customers should not request scope changes. b. Scope changes can come from project personnel. c. Changes should only occur after a work package is complete. d. Changes in baselines should be limited to minor scope changes. e. The usefulness of the baseline can be eroded by constantly changing it. f. Natural disasters can force a baseline change.

a. Customers should not request scope changes. c. Changes should only occur after a work package is complete. f. Natural disasters can force a baseline change.

Schedule variance (SV) is in dollars and does not directly represent time. Why is it still useful? a. Research shows that after twenty percent of a large project is complete, SV is a relatively good indicator of schedule performance. b. Research shows that once eighty percent of a large project is complete, SV is a relatively good indicator of schedule performance. c. Time is money, and SV displays it as such. d. None of these answers is correct.

a. Research shows that after twenty percent of a large project is complete, SV is a relatively good indicator of schedule performance.

How does a tracking Gantt chart help communicate project progress? a. The tracking Gantt chart graphically compares the plan and actual time performance. b. The tracking Gantt chart graphically compares the plan and actual cost performance. c. The tracking Gantt chart graphically compares the plan and earned value performance. d. The tracking Gantt chart graphically compares the plan and BAC performance.

a. The tracking Gantt chart graphically compares the plan and actual time performance.

How does earned value give a clearer picture of project schedule and cost status than a simple plan versus actual system? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply a. Earned value measures what work was accomplished for the money spent. b. Earned value measures what work was accomplished for the time spent. c. The earned value system includes the cost variable in measuring progress d. The earned value system includes the time variable in measuring progress.

b. Earned value measures what work was accomplished for the time spent. c. The earned value system includes the cost variable in measuring progress d. The earned value system includes the time variable in measuring progress.

According to the Snapshot from Practice, which of the following is not true about setting effective milestones? a. Milestones need to be concrete. b. Milestones need to be aspirational. c. Milestones need to be specific. d. Milestones need to be measurable. e. All of these alternatives are true.

b. Milestones need to be aspirational.

Refer to the Snapshot from Practice, Pseudo-Earned Value Percent Complete Approach assigns ________ to work packages that are being worked on. a. 0% b. 25% c. 50% d. 75% e. 100%

c. 50%

Refer to the Snapshot from Practice, which approach was suggested to measure percent complete at the U.S. Forest Service in order to solve the level of detail dilemma? a. A NPV method b. A critical chain approach c. A pseudo-earned value approach d. A weighted monitoring gates e. A 360-degree feedback

c. A pseudo-earned value approach

According to the Snapshot from Practice, which of the following is not one of the guidelines for setting milestones? a. Avoid the temptation to overuse milestones as a motivational tool. b. Critical merge and burst activities are often useful milestones. c. Completing a low risk task is always worthy of milestone consideration. d. Timing of milestones is important. e. All of these alternatives are guidelines for setting milestones.

c. Completing a low risk task is always worthy of milestone consideration.

Refer to the Snapshot from Practice, which of the following question(s) can be used to assign percent complete in a pseudo-earned value approach? a. Has work on the work package started? b. Working on the package? c. Is the work package completed? d. All of these alternatives are questions used to assign percent complete. e. None of these alternatives is a question used to assign percent complete.

d. All of these alternatives are questions used to assign percent complete.

What is true of the CPI? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply a. It is a time performance index. b. An index of .80 suggests that the project may be under budget. c. An index of 1.25 indicates that 25% more of the work has been completed than was planned by this time. d. An index of .80 indicates that 80 cents of work has been completed for each actual dollar spent. e. It is a cost performance index.

d. An index of .80 indicates that 80 cents of work has been completed for each actual dollar spent. e. It is a cost performance index.

Refer to the Snapshot from Practice, Pseudo-Earned Value Percent Complete Approach assigns ________ to work packages that were completed. a. 0% b. 25% c. 50% d. 75% e. 100%

e. 100%

Refer to the Trojan Decommissioning Project Snapshot from Practice, which performance index was not used in the project? a. CV b. EV c. CPI d. SPI e. All of these performance indexes were used in the project.

e. All of these performance indexes were used in the project.