Ch9 BSIS444
1. Actual Cost (AC) is __________ a) how much we actually spent for work completed b) how much we budgeted to spend at the beginning of the project c) how much of the budget we have left to spend on the project d) how much of the budget we really should have spent on the work completed so far e) None of the above
A) how much we actually spent for work completed
1. In Project Communications Management, identifying people or organizations that have a positive or negative interest in the project's outcome is _____. a) identify stakeholders b) plan communications c) distribute information d) manage stakeholder expectations e) report performance
A) identify stakeholders
1. Budget At Completion (BAC) is __________ a) how much we actually spent for work completed b) how much we budgeted to spend at the beginning of the project c) how much of the budget we have left to spend on the project d) how much of the budget we really should have spent on the work completed so far e) None of the above
B) how much we budgeted to spend at the beginning of the project
1. In Project Communications Management, getting the right information to the right stakeholders in the right format is _____. a) identify stakeholders b) plan communications c) distribute information d) manage stakeholder expectations e) report performance
C) distribute information
1. In Project Communications Management, ensuring that clear, consistent, and timely communication satisfies the information needs and that project stakeholder issues are resolved is _____. a) identify stakeholders b) plan communications c) distribute information d) manage stakeholder expectations e) report performance
D) Manage stakeholder expectations
1. Earned Value tells us __________ a) how much we actually spent for work completed b) how much we budgeted to spend at the beginning of the project c) how much of the budget we have left to spend on the project d) how much of the budget we really should have spent on the work completed so far e) None of the above
D) how much of the budget we really should have spent on the work completed so far
1. In Project Communications Management, _____focuses on the collection and dissemination of project ionformation to the various project stakeholders. a) identify stakeholders b) plan communications c) distribute information d) manage stakeholder expectations e) report performance
E) Report performance
1. Expected Time to Completion (ETC) is __________ a) how much time it took to complete the work b) how long we expected the task to take c) how much time we have left to complete the project d) how much time it should have taken to complete the task e) how much longer it will take to complete the project
E) how much longer it will take to complete the project
1. Schedule Variance (SV) is __________ a) how much time it took to complete the work b) how long we expected the task to take c) how much time we have left to complete the project d) how much time it should have taken to complete the task e) the difference between the current progress and the original schedule
E) the difference between the current progress and the original schedule
1. Cost Variance (CV) is __________ a) how much we actually spent for work completed b) how much we budgeted to spend at the beginning of the project c) how much of the budget we have left to spend on the project d) how much of the budget we really should have spent on the work completed so far e) the difference between the estimated cost and how much we have actually spent
E) the difference between the estimated cost and how much we have actually spent
1. A cost variance (CV) can be positive or negative, but never zero. a. True b. False
False
1. As a project manager, you would be pleased see a Cost Performance Index CPI less than one (1) for your project a. True b. False
False
1. Generally, the more metrics one adopts, the greater the project control. a. True b. False
False
1. If a stakeholder has been judged to adversarial and having a vested interest in the failure of your project, it would probably be wise to keep him/her out of the communication loop. a. True b. False
False
1. One attribute of a good project metric is that it should be subjective so that a stakeholder can understand the project manager's personal opinion or insight as to how the project is progressing. a. True b. False
False
All of the project stakeholders should receive exactly the same information regarding the project's progress in order to eliminate any miscommunication True False
False
1. In Project Communications Management, providing relevant and timely information to each stakeholder _____. a) identify stakeholders b) plan communications c) distribute information d) manage stakeholder expectations e) report performance
Plan Communications
1. A good project metric should be understandable, quantifiable, cost effective, proven, and be effective. a. True b. False
True
1. A project metric should be obtained from observable, quantifiable data that allows the team and other stakeholders to gauge the efficiency and effectiveness of the work being done. a. True False
True
1. Budget At Completion (BAC) is the total planned cost of a project. a. True b. False
True
1. Earned value provides a performance measurement that tells us how much of the budget we really should have spent for the work completed so far. a. True b. False
True
1. Given the advances that have been made in telecommunications and IT technology in general, there is little value or necessity today for Face-to-Face (F2F) meetings. a. True b. False
True
1. Internet and Web-Based technologies have a significant role to play in communication and collaboration efforts of project teams. a. True b. False
True
1. Planned value (PV) is the planned or budgeted cost of work scheduled for an activity or component of the WBS. a. True b. False
True
1. The Estimate At Completion (EAC) is a project metric that can be used to estimate the most likely total or final cost of the project based on the project's performance and any risks that should be considered. a. True b. False
True
1. The Expected Time Complete (ETC) provides an estimate for completing the scheduled work that remains. a. True b. False
True
1. The Schedule Performance Index (SPI) for our project is greater than one (1) and so we would anticipate that all other things being equal, our project will finish ahead of schedule. a. True b. False
True
1. The project communications plan may be informal depending on the needs of the project stakeholders and the size of the project. a. True False
True
1. The project manager must have a clear picture of how the actual progress or work compares to the baseline plan in order to make well-informed decisions, take appropriate actions, or to make adjustments to the project plan. a. True b. False
True
1. The purpose of a project review is to not only show evidence that the project work is being completed, but also that the work is being completed according to various standards or agreed upon requirements. a. True b. False
True
1. The schedule variance (SV) shows the difference between the current progress of the project and its original or planned value. True False
True
1. If you hired a consulting firm to develop a system which is estimated to take four months to complete with the tasks evenly divided over the four months and you agree to pay for the project with equal monthly installments, those payments would be called: a) Planned Value (PV) b) Budget At Completion (BAC) c) Actual Cost (AC) d) Earned Value (EV) e) None of the above
a) Planned Value (PV)
1. The budgeted cost of work scheduled for an activity or component of the WBS is the _____. a) Planned Value (PV) b) Budget At Completion (BAC) c) Actual Cost (AC) d) Expected Time Complete (ETC) e) Estimate at Completion (EAC)
a) Planned Value (PV)
1. Barring a change in project scope and given a Schedule Performance Index (SPI) that is greater than 1, the most reasonable inference to draw is that: a) The project will likely finish earlier than planned. b) The project will likely finish later than planned. c) The project will likely cost more than planned. d) The project will likely cost less than planned. e) The project will likely be on time and on budget.
a) The project will likely finish earlier than planned.
1. The total planned cost of the project is computed before the project work begins. This metric is called the: a) Planned Value (PV) b) Budget At Completion (BAC) c) Actual Cost (AC) d) Expected Time Complete (ETC) e) Estimate at Completion (EAC)
b) Budget At Completion (BAC)
1. A _________ is a formal or informal meeting that shows evidence of project work that has been completed and work and provides a forum for surfacing issues, problems, decision-making. a) Budget report b) Project review c) Progress report d) Forecast report e) News report
b) Project review
1. A _________ describes the present state of the project and provides compares the project's actual progress to the baseline plan. a) Budget report b) Status report c) Progress report d) Forecast report e) News report
b) Status report
1. The cost incurred for completing a scheduled task or WBS component is the a) Planned Value (PV) b) Budget At Completion (BAC) c) Actual Cost (AC) d) Expected Time Complete (ETC) e) Estimate at Completion (EAC)
c) Actual Cost (AC)
1. EV-AC = a) Cost performance index (CPI) b) Scheduled performance index (SPI) c) Cost Variance (CV) d) Minimum funds needed (MFN) e) None of the above
c) Cost Variance (CV)
1. Barring a change in project scope and given a Cost Performance Index (CPI) that is less than 1, the most reasonable inference to draw is that: a) The project will likely finish earlier than planned. b) The project will likely finish later than planned. c) The project will likely cost more than planned. d) The project will likely cost less than planned. e) The project will likely be on time and on budget.
c) The project will likely cost more than planned.
1. Cost Variance (CV) = Earned Value - ___________. a) Budget at Completion (BAC) b) Budgeted cost of remaining work (BCRW) c) Schedule Variance (SV) d) Actual Cost (AC) e) None of the above
d) Actual Cost (AC)
1. A metric that provides an estimate for completing the scheduled work that remains once the project is started is called the a) Planned Value (PV) b) Budget At Completion (BAC) c) Actual Cost (AC) d) Expected Time Complete (ETC) e) Estimate at Completion (EAC)
d) Expected Time Complete (ETC)
1. A _________ predicts the future status or progress of the project. a) Budget report b) Status report c) Progress report d) Forecast report e) News report
d) Forecast report
1. Which of the following is not likely a characteristic of a good project metric?: a) Understandable b) Quantifiable c) Cost Effective d) Subjective e) High Impact
d) Subjective
1. Information distribution includes all of the following EXCEPT: a) Face-To-Face Meetings b) Telephone, e-mail, and other wireless devices c) Web-based technologies d) Threaded discussion areas e) All of the above are examples of information distribution
e) All of the above are examples of information distribution
1. The PMBOK® area called project communications management includes which of the following? a) Communications planning b) Information distribution c) Performance reporting d) Administration closure e) All of the above are part of project communications management
e) All of the above are part of project communications management
1. A _________ shows how the scope, features or functionality, or work is being completed over time. a) Budget report b) Status report c) Progress report d) Forecast report e) Burndown Chart
e) Burndown Chart
1. If we know the Actual Cost of a WBS component, what other value do we need to know in order to calculate the cost performance index (CPI)? a) Budget at Completion (BAC) b) Budget costs of remaining work (BCRW) c) Schedule Variance (SV) d) Expected Time Complete (ETC) e) Earned Value (EV)
e) Earned Value (EV)
1. The metric that provides an estimate of the most likely total or final cost of the project based on the project's performance and any risks that should be considered is the: a) Planned Value (PV) b) Budget At Completion (BAC) c) Actual Cost (AC) d) Expected Time Complete (ETC) e) Estimate at Completion (EAC)
e) Estimate at Completion (EAC)
1. Estimate at Completion (EAC) is __________ a) how much we actually spent for work completed b) how much we budgeted to spend at the beginning of the project c) how much of the budget we have left to spend on the project d) how much of the budget we really should have spent on the work completed so far e) how much we spent to complete the project
e) how much we spent to complete the project