C722 Project Management - Unit 8 Questions
What is the best way for a project manager to address what the team could have done better during project execution?
"The team did a great job. Are there things we might do differently next time?"
Returning to the calendarized budget for building your dream cabin, at the end of Week 5 EV = $88,000, PV = $70,500, and BAC = $156,250. If AC was $72,400 at the end of Week 5, what is the EAC?
$128,343 EAC = AC + ETC EAC = 72,400 + $55,943 EAC = $128,343
In the calendarized schedule for building your dream cabin, at the end of Week 5 EV = $88,000, PV = $70,500, and BAC = $156,250. If AC was $72,400 at the end of Week 5, what is the CV?
$15,600 CV is calculated by EV − AC.
In the calendarized schedule for building your dream cabin, at the end of Week 5 EV = $88,000, PV = $70,500, and BAC = $156,250. If AC was $72,400 at the end of Week 5, what is the SV?
$17,500 SV is calculated by EV − PV.
The following values have been determined at the end of Week 6 for a project at Rickman Industries: EV = $215,000, PV= $276,500, BAC = $396,000, and AC = $268,400. Given this information, what is the project's ETC?
$225,968 ETC = (BAC − EV)/CPI CPI = $215,000 / $268,400 CPI = 0.80 ETC=($396,000 - 215,000)/.80 ETC=181,000/.8 ETC=$226,250
Returning to the calendarized budget for building your dream cabin, at the end of Week 5 EV = $88,000, PV = $70,500, and BAC = $156,250. If AC was $72,400 at the end of Week 5, what is the ETC?
$55,943 ETC = (BAC − EV)/CPI CPI = EV/AC $88,000/$72,400 1.21 ETC=($156,250 - $88,000)/1.21 ETC=$68,250/1.22 ETC=$55,943
In the calendarized schedule for building your dream cabin, at the end of Week 5 EV = $88,000, PV= $70,500, and BAC = $156,250. If AC was $72,400 at the end of Week 5, what is the CPI?
122% CPI = EV/AC.
In the calendarized schedule for building your dream cabin, at the end of Week 5 EV = $88,000, PV= $70,500, and BAC = $156,250. If AC was $72,400 at the end of Week 5, what is the SPI?
125% SPI = EV/PV.
The following values have been determined at the end of Week 6 for a project at Rickman Industries: EV = $215,000, PV= $276,500, BAC = $396,000, and AC = $268,400. Given this information, what is the PCIB?
54% PCIB = EV/BAC = $215000/396000 = .5429 = 54%
In the calendarized schedule for building your dream cabin, at the end of Week 5 EV = $88,000, PV= $70,500, and BAC = $156,250. If AC was $72,400 at the end of Week 5, what is the PCIB?
56% PCIB = EV/BAC.
In the calendarized schedule for building your dream cabin, at the end of Week 5 EV = $88,000, PV= $70,500, and BAC = $156,250. If AC was $72,400 at the end of Week 5, what is the TCPI?
81% TCPI = (BAC − EV)/(BAC − AC).
What is necessary to ensure that a requirement fits the project quality framework?
A complete and clear description
From a project management perspective, what is a late finish as a result of a labor strike?
A risk
If project management software is being used to manage the project, cost reports can be used to determine the ---------- of the project.
AC
Includes work and invoices already paid as well as any expenses that have been incurred but not yet invoiced.
Actual Cost (AC)
A project manager is conducting an Earned Value Analysis and needs to know the total value of costs incurred to date. Which data element is the project manager evaluating?
Actual cost (AC)
Which of the following is intended to help future project teams by discussing lessons learned?
After action review
A project manager is monitoring the project schedule and has already compared WBS activities to the schedule baseline. What should the project manager do next? Monitor Activity Completion Status Analyze variances Propose Changes to Schedule or Plan
Analyze variances
Which question is answered by Earned Value Management?
Are budget changes needed to complete the project as scheduled?
What is the primary reason for scope changes?
As you work on the project, your knowledge base grows and you begin to understand the requirements and solution options.
What characterizes colocated teams more than virtual teams?
Being able to have frequent face-to-face meetings
As a project manager, what must you do in order to make a team work effectively together?
Build common ground.
In order for the project manager to calculate the estimate to completion (ETC), the EVM measures must be collected and the ---------- must be calculated.
CPI
Anita, a project manager, determines that her project team is accomplishing more work at a cost less than anticipated. What did Anita calculate to determine this good news?
CPI (The Cost Performance Index (CPI) uses a ratio that creates a measure of cost efficiency (CPI = EV/AC). CPI values greater than 1 or 100% mean that the project team is completing more work with less cost than expected.)
What best describes the storming stage of group development?
Conflict occurs as team members struggle to work together.
Why is it important to determine what went right during the project?
Determining what went right is a strong motivator for people because they want to know that their efforts are appreciated.
How should you approach the discussion about what the team might be able to do better in the future?
Discuss what went right first, then invite discussion on what to improve and how.
The cost variance (CV) would be calculated as ----------.
EV − AC
The dollar value of all work completed to date
Earned Value (EV)
What is the process of assessing the work completed called?
Earned Value Analysis (EVA)
A late finish as a result of a labor strike falls under which category?
External events (This would be an example of an external event because it is out of the team's control.)
What is a likely result of building team cohesiveness and trust?
Facilitating effective task performance
True or False: In an effective team, all team members focus on their own tasks and never concern themselves with what other team members are doing.
False
True or False: Virtual teams do not go through the same stages of team development that colocated teams do.
False (All teams, whether they are virtual or colocated, go through the same stages in team development.)
True or False: Quality audits are rigorous reviews of the project performance that must be completed by groups of experts outside of the project team.
False (Although quality audits may be performed by people outside the team, there are instances when the project team does the audit.)
True or False: Tuckman's stages of team development follow a linear path and each team goes through each of the stages.
False (Although teams do go through each stage of team formation, the model is not linear. Teams will often regress back to previous stages during the course of the project.)
True or False: Contingency plans are developed quickly to respond to events that occur during the execution of the project.
False (Contingency plans are previously developed responses to events that may occur during the execution of the project.)
True or False. A project can only be terminated when all project deliverables are received and accepted by the customer. True
False (It may occasionally be necessary to terminate a project that has not been completed.)
True or False: All it takes to create an effective team is to put a group of people in a room and tell them that they are a team and will be working together.
False (It takes time for team members to feel comfortable with each other so they can work together effectively and work well with different skills and assignments.)
True or False: You would identify who was to blame for an activity not being completed on time in the "What went wrong?" area of a lessons learned review.
False (Lessons learned reviews do not ascribe blame.)
True or False: Project scope is fixed at the conclusion of the project planning phase.
False (Project scope is baselined at the conclusion of the project planning phase.)
True or False: The purpose of completing an Earned Value Management (EVM) analysis is to ensure that the baseline budget was sufficient to complete the project.
False (The purpose of an Earned Value Management (EVM) analysis is to determine the current and end of project status of the project with respect to budget and schedule.)
True or False: The risk register is monitored at specific gate points in the project to remove risks that are no longer a threat to the project.
False (The risk register is monitored continuously in the project to remove risks that are no longer a threat to the project.)
True or False: The schedule variance (SV) compares the value of work completed (EV) with the actual cost (AC) at a given point in time.
False (The schedule variance (SV) is calculated by subtracting the planned value (PV) from the earned value (EV). The formula is SV = EV − PV.)
True or False: A project manager should change the baseline scope whenever project enhancements are approved and implemented.
False (Whenever enhancements or decreases are necessary or proposed, they must be fully documented, evaluated, and approved before implementation. However, the baseline scope will not be changed.)
True or False: A project may only be terminated when all the deliverables are ready.
False (While this is the desired condition for project termination, there are other reasons that are valid.)
True or False: If, for some reason, you were unable to finish the project, you would not need to do closing documentation.
False (You would still need to do closeout documentation, but in this case it will describe why the project was terminated and the duties and responsibilities of all parties.)
True or False: The four categories of change are scope change, contingencies, improvement plans, and internal events.
False The four categories of change are scope change contingencies improvement plans external events (not internal events)
---------- are opportunities identified after the project approval process but that make sense to incorporate into the project even if not identified at the start.
Improvement changes
Why is documenting lessons learned especially important if a project has been terminated early? (Choose all that apply.) It identifies the individual(s) responsible for the failure of the project. It can provide "early warnings" that may help avert the need to terminate other projects in the future. It can be extremely valuable to learn what not to do in a project.
It can provide "early warnings" that may help avert the need to terminate other projects in the future. It can be extremely valuable to learn what not to do in a project.
You have been so busy with all the duties of being a project manager that you have not had time to think about how you will release the project team members once the first restaurant project is over. Why is it important to have a process in place for this?
It is a means of recognizing individual and team performance. If team members do not feel valued, they are less likely to have the same level of commitment in the future.
The first restaurant renovation is just about complete and it looks like you will be ready to open on time. But you still need to document all activity outcomes. Why is this important? (Choose all that apply.) It provides formal acceptance of project deliverables by the customer or sponsor. It is a means to codifying that you understand the processes and procedures of the organizations involved in the project and showing compliance with their needs. Failure to document all activities could cause issues if there are ever any liability claims against the product of the project after the closeout.
It provides formal acceptance of project deliverables by the customer or sponsor. It is a means to codifying that you understand the processes and procedures of the organizations involved in the project and showing compliance with their needs. Failure to document all activities could cause issues if there are ever any liability claims against the product of the project after the closeout.
What is the purpose of doing lessons learned?
Lessons learned reviews teach current or future project managers, teams, and others what works well and what may not work well.
What is true about colocated teams? (Choose all that apply.) More frequent interaction may exacerbate team member conflicts. Cultural differences are more likely to be a problem in this type of team format. It is easier to engage in team-building activities in colocated teams as opposed to virtual teams. Team members may feel isolated.
More frequent interaction may exacerbate team member conflicts. It is easier to engage in team-building activities in colocated teams as opposed to virtual teams.
Description / Team-Building Stage? - No one really knows much about anyone else on the team. - The dynamics of working together beyond any written statement of "roles and responsibilities" are being established. - Trust and working relationships are beginning to form between team members. - Team members are fully comfortable working together and project progress is occurring. Trust and working relationships are beginning to form between team members. The dynamics of working together beyond any written statement of "roles and responsibilities" are being established.
No one really knows much about anyone else on the team. = Forming The dynamics of working together beyond any written statement of "roles and responsibilities" are being established. = Storming Trust and working relationships are beginning to form between team members. = Norming - Team members are fully comfortable working together and project progress is occurring. = Performing
The project manager and the customer have determined that the baseline budget is not sufficient so an increased budget has been approved. The percent complete should now be calculated using ----------.
PCIC
Members of a project team at TVX Design feel completely comfortable working together and have developed trusting relationships. As a result, the project is progressing on schedule. Which stage of the group development model best describes this team?
Performing
The dollar value of all work scheduled to have been completed to date.
Planned Value (PV)
A project manager asks the question "what went wrong" during a lessons learned review. What is most likely the project manager's objective?
Preventing future project mistakes
Process Step / Description Identify change Evaluate change Communicate change
Processes are in place to document changes as soon as they are identified. The appropriate stakeholders provide input to identify costs and benefits. Project plans are updated to incorporate the change.
Which of the following formally indicates that a project has been completed and that a customer is satisfied with the project deliverables?
Project closeout document
What does a formal acceptance of a project's deliverables do? (Choose all that apply.) Provides a final opportunity to review all project documents before acceptance of the product of the project. Signals the end of the project life cycle. Precludes the customer from ever taking action if something goes wrong. Indicates that the customer or sponsor have accepted the deliverables.
Provides a final opportunity to review all project documents before acceptance of the product of the project. Signals the end of the project life cycle. Indicates that the customer or sponsor have accepted the deliverables.
---------- is the degree to which the project outcomes meet customer requirements.
Quality
---------- is the process of validating that the requirements and measurements are appropriate for the project environment.
Quality assurance
Throughout project execution, a project team at Wilson Industries repeatedly monitors project quality to identify and correct any problems to ensure that customer requirements are met upon project delivery. Which term best describes the actions of the Wilson Industries project team?
Quality control
---------- is the process of documenting and archiving project related information.
Recording
What process is a project manager who nonverbally communicates project performance information on a monthly basis to stakeholders engaged in?
Reporting
What serves as a key reference tool when monitoring project quality?
Requirements traceability matrix
What is a unique challenge associated with managing a virtual team?
Scheduling meetings that fit multiple time zones
What occurs when the project team integrates enhancements to the scope without proper evaluation and approval?
Scope creep
The ---------- is a measure of how efficiently the team will need to perform for the remainder of the project in order to meet the baseline budget.
TCPI
A project manager has learned that a project is currently running over budget. The project manager can determine how efficiently the project team must work for the remainder of the project in order to finish on budget by calculating __________.
TCPI (The To Complete Performance Index (TCPI) allows the project manager and key stakeholders to determine if it is feasible for the team to improve their cost efficiency on the remaining work.)
What illustrates an effective team?
Team members assist each other with difficult tasks.
The planned value (PV) can best be described as what?
The budget of work scheduled to date
A Cost Performance Index (CPI) value of less than 1.0 indicates what?
The project is behind budget. (A Cost Performance Index result of less than 1.0 indicates that the actual costs are greater than the earned value, so the project is behind with respect to budget.)
What does a Schedule Performance Index (SPI) value of less than 1.0 indicate?
The project is behind schedule. (A Schedule Performance Index (SPI) result of less than 1.0 indicates that the planned work is greater than the earned value, so the project is behind with respect to schedule.)
What are valid reasons for terminating a project? (Choose all that apply.) The project no longer fits with company strategic objectives. Competitive pressures no longer require the product of the project. The project manager is "burned out." The project is no longer economically feasible.
The project no longer fits with company strategic objectives. Competitive pressures no longer require the product of the project. The project is no longer economically feasible.
Why should you use an EVM? (Choose all that apply.) The results of the analysis are used to understand the current state of the project. The results of the analysis are used to make predictions of what the budget performance will be at project completion. The assessment of earned value only needs to be done at the midpoint of the project's execution phase.
The results of the analysis are used to understand the current state of the project. The results of the analysis are used to make predictions of what the budget performance will be at project completion.
True or False: Project controls are the data gathering, management, and analytical processes used to predict, understand, and constructively influence the time and cost outcomes of a project or program. True
True
True or False: Tuckman's stages of team development are the same for every team, regardless of the size or the purpose.
True
True or False: One means of building a performing virtual team is to bring them to one location periodically for team meetings.
True (Having people meet face-to-face and put a face to a name and a voice can be very effective.)
True or False: The first step of the change management process involves formally documenting proposed change. In the final step of the process, the project team is notified about the change and project plans are updated.
True (Identifying change means to have processes in place to document changes as soon as they are proposed. Communicating change, which is the final stage of the process, involves notifying the project team of the change, updating the project plans to incorporate the change, and implementing the change.)
True or False: The project manager must collect the EVM measures of AC, PV, and EV in order to calculate the variances and indexes.
True (The EVM measures of AC, PC, and EV must be collected before calculating the variances (SV and CV) and the indexes (SPI and CPI).)
An SPI value greater than 1 indicates that a project team is ________.
Using time efficiently (The Schedule Performance Index (SPI) creates a measure of time efficiency. SPI values greater than 1 mean that the project team is completing more work in less time than expected.)
--------- may be caused by errors in estimating the activity durations.
Variances
What is true about virtual team members?
Virtual teams depend on electronic communication.
You are trying to prepare for your lessons learned review with your team. Which of the following categories should you include in that review? (Choose all that apply.) What went right Who is to blame What went wrong
What went right What went wrong
When monitoring project costs, a project manager should compare ________ to ________.
actual costs; the calendarized budget (When monitoring project costs, the project manager will compare actual costs to the calendarized budget, which will identify if actual expenses are different than the budget and if the expenses are occurring in a time period different than planned.)
Determining what went right provides a(n) ---------- in the lessons learned review.
baseline from which to improve
During the project life cycle, ---------- serve as useful tools for verifying that commodities have been delivered as ordered and on time.
checklists
A negative value for the schedule variance indicates that the project is -----------.
currently behind schedule
While a project is being executed, a project manager monitors the risk register to ________.
determine the status of a risk event (Throughout the execution of the project, the risk register is monitored to identify the status of each risk item.)
Schedule variance (SV) measures the gap between the earned value (EV) and the planned value (PV). A ---------- result indicates that the project is behind based on the baseline schedule.
negative
Contingency plans are best described as ________.
preplanned responses to events
Before the start of a project, Mario, a project manager, communicates customer requirements to the project team. Mario wants to avoid future miscommunications regarding how project outcomes will be measured at delivery. Mario is primarily engaged in ________.
quality management
Building a future project plan based on a past success will ---------- risks.
reduce risks
Customer requirements are recorded in the --------.
requirements traceability matrix
Project plan reporting is designed and established at ---------.
start of the project
One issue with virtual teams that the project manager must deal with that is not an issue in colocated teams is ----------.
time zones
Improvement changes are best described as -----------.
unanticipated opportunities
The earned value (EV) of a project can best be described as the ----------- of a project at a given point in time.
value of completed work
Wrap-up activities on the project are in full swing and you need a way of verifying that the products and services you ordered were delivered on time and as ordered. The best way to do that is through a(n) -----------.
vendor-closing checklist
During a project closeout lessons learned review, a discussion of ---------- will motivate and energize team members the most.
what went right
