Project Management chapter 13

The cost variance for a project is calculated by A. EV-AC B. AC-SV C. PV-EV D. CU-EV E. EU-PV

A. EV-AC (Earned Value - Actual Cost

The percent complete index that looks at percent complete in terms of budgeted amounts is calculated by which of the following? A. EV/BAC B. (EV-PV)/BAC C. AC/EAC D. (EV-AC)/BAC E. (EV-PV)/EAC

A. EV/BAC

Which of the following is not true regarding scope creep? A. It is common late in projects B. It is frequently unnoticed until time delays or cost overruns are observed C. It wears down team motivation and cohesiveness D. Project suppliers resent frequent changes E. All of these are true

A. It is common late in projects

A tool used to monitor past project schedule performance, current performance, and to estimate future schedule trends is a simple line chart known as a A. Project schedule control chart B. Gantt chart C. PERT chart D. Network diagram E. Milestone chart

A. Project schedule control chart

The first step in the project control process of the measurement and evaluation of project performance is to A. Set a baseline plan B. Determine the project objectives C. Determine the project deliverables D. Analyze the project budget E. Review the project priority matrix

A. Set a baseline plan

The last step in the project control process of the measurement and evaluation of project performance is to A. Take appropriate action B. Prepare a report to top management C. Follow up on corrective action D. Measure progress and performance E. Review spending with team members

A. Take appropriate action

Which of the following will calculate the estimated cost to complete the project? A. (VAC-EV)/(PV/AC) B. (BAC-EV)/(EV/AC) C. (PV/AC)/(VAC-EV) D. (EV/AC)/(BAC-EV) E. (BAC-EV)/(BAC-AC)

B. (BAC-EV)/(EV/AC)

Which of the following methods will measure the scheduling efficiency of the work accomplished to date? A. SV/CV B. EV/PV C. EV/AC D. AC/SV E. AC/CV

B. EV/PV

A typical tool used to communicate project status is a A. Project network diagram B. Gantt Chart C. A PERT chart D. Both A and B are correct E. A, B, and C are all correct

B. Gantt Chart

Small refinements that eventually build to be major changes are known as A. Project erosion B. Scope creep C. Specification adjustments D. Specification refinements E. Continuous improvements

B. Scope creep

Baseline project budgets are derived from A. The organization's overall budget B. Time-phasing the work packages C. Top management directions D. Both A and C are correct E. A, B, and C are all correct

B. Time-phasing the work packages

The percent complete index that looks at percent complete in terms of actual amounts is calculated by which of the following? A. EV/BAC B. (EV-PV)/BAC C. AC/EAC D. (EV-AC)/BAC E. (EV-PV)/EAC

C. AC/EAC

A project monitoring system involves all of the following except: A. Determining what data to collect B. Determining how, when, and who will collect the data C. Adjusting the data D. Analysis of the data E. Reporting current progress

C. Adjusting the data

The third step in the project control process of the measurement and evaluation of project performance is to A. Review the baseline plan with top management B. Analyze inputs to the control system C. Compare the plan against actual performance D. Measure both progress and performance E. Review spending with team members

C. Compare the plan against actual performance

At the completion of a project, the following must be true: A. AC =EV B. AC =PV C. EV = BAC D. CPI=1.0 E. None of the above

C. EV = BAC

Which of the following methods will measure the cost efficiency of the work accomplished to date? A. SV/CV B. EV/PV C. EV/AC D. AC/SV E. AC/CV

C. EV/AC

In monitoring project time (schedule) performance actual performance should be compared to A. Budgets for the current year B. Top management's targets C. Project network schedule derived from the WBS/OBS D. Progress on similar past projects E. Previous status reports

C. Project network schedule derived from the WBS/OBS

An Earned Value System used to monitor project progress includes comparison of A. Actual costs versus budget B. Schedule progress versus plan C. Quality progress versus plan D. Both A and B are correct E. A, B, and C are all correct

D. Both A and B are correct

The second step in the project control process of the measurement and evaluation of project performance is to A. Review the baseline plan with top management B. Analyze inputs to control system C. Compare plan against actual D. Measure progress and performance E. Review spending with team members

D. Measure progress and performance

An index value less than one indicates that the project is A. Under cost or behind schedule B. Over cost or ahead of schedule C. Under cost or ahead of schedule D. Over cost or behind schedule E. On cost or on schedule

D. Over cost or behind schedule

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

D. PV, EV, and AC

The earned value of a project is the A. Project cost to date adjusted for project scope changes B. Total project cost to date C. Cost incurred minus the planned cost D. Percent of the original budget that has been earned by actual work E. None of these are correct

D. Percent of the original budget that has been earned by actual work

As of the fourth month on the Acme project, cumulative planned expenditures were $100,000. Actual expenditures totaled $120,000. How is the Acme project doing? A. The project is behind schedule. B. The project is in trouble because of a cost overrun. C. The project should easily finish within the original budget. D. The information is insufficient to make an assessment. E. The project is ahead of schedule.

D. The information is insufficient to make an assessment.

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

D. VAC variance at completion (VAC) (BAC − EAC)

Which of the following will calculate the To Complete Performance Index? A. (VAC-EV)/(PV/AC) B. (BAC-EV)/(EV/AC) C. (PV/AC)/(VAC-EV) D. (EV/AC)/(BAC-EV) E. (BAC-EV)/(BAC-AC)

E. (BAC-EV)/(BAC-AC)

Adequate project controls have the advantage(s) of: A. Holding people accountable B. Prevents small problems from getting large C. Keeping focus D. Both A and B are correct E. A, B, and C are all correct

E. A, B, and C are all correct

Generally the method for measuring accomplishments centers on comparing A. Earned value with the expected schedule value B. Earned value with the actual costs C. Actual costs with budgeted costs D. Both A and B are correct E. A, B, and C are all correct

E. A, B, and C are all correct

Scope creep affects A. The organization B. The project team C. The project suppliers D. Both A and B are correct E. A, B, and C are all correct

E. A, B, and C are all correct

A typical project progress report would contain all of the following sections except A. Progress since last report B. Problems and issues since last report C. Current status of project D. Corrective action planned E. All of these are typical sections

E. All of these are typical sections

Of the following costs, which are not included in baseline? A. Materials B. Equipment C. Labor D. A and C but not B E. All of these are usually included

E. All of these are usually included

The schedule variance for a project is calculated by A. EV-AC B. AC-SV C. PV-EV D. CU-EV E. EV-PV

E. EV-PV (Earned value - Planned cost of the work)

The method most frequently used in measuring project progress is the A. 0/100 percent rule B. 75/25 percent rule C. 50/50 percent rule D. 25/75 percent rule E. Percent complete rule

E. Percent complete rule