Project Management Cost and Schedule Quiz Review

Which of the following are GENERALLY illustrated BETTER by bar charts than network diagrams

Progress or Status

Cost risk means

There is a risk that project costs could go higher than planned

what is not needed in order to come up with a project estimate?

change control system

To control the schedule, a project manager is reanalyzing the project to predict project duration. She does this by analyzing the sequence of activities with the least amount of flexibility. What technique is she using?

critical path method

If earned value (EV) = 350, actual cost (AC)= 400, planned value (PV)= 325, what is cost variance (CV)? (EV-AC=CV)

-50

To control the schedule, a project manager is reanalyzing the project to predict project duration. She does this by analyzing the sequence of activities with the least amount of schedule flexibility. What technique is she using?

Critical Path method

A project manager is using weighted average duration estimates to perform schedule network analysis. Which type of mathematical analysis is being used?

PERT

which of the following processes includes asking team members about the time estimates for their activities and reaching agreement on the calendar date for each activity?

develop schedule

Analogous Estimating

A technique for estimating the duration or cost of an activity or a project using historical data from a similar activity or project.(top-down)

The float of an activity is determined by

Determining the amount of time the activity can be delayed before it delays the critical path

which of the following represents the estimate value of work actually accomplished ?

earned value

During which project management process group are budget forecasts created?

initiating

What is the duration of a milestone?

it has no duration

rearranging resources so that a constant number of resources is used each month is called:

leveling

the project is calculated to be completed four days after the desired completion date. you do not have access to additional resources. the project is low risk, the benefit cost ratio 9is expected to be 1.6 and the dependencies are preferential. Under these circumstances, what would be the best thing to do?

make more activities concurrent

A dependency requiring the design can be completed before manufacturing can start is an example of

mandatory dependency

senior management is complaining that they are not able to easily determine the status of the ongoing project in the organization. Which of the following types of reports would help provide a summary information to senior management?

milestone reports

Which of the following is the best project management tool to use to determine the longest time the project will take?

network diagram

Which of the following is the best project management tool used to determine the longest time a project will take?

network diagram

when would a milestone chart be used instead of a bar chart?

reporting to management

A project manager is taking over a project from another project manager during project planning. If the project manager wants to see what the previous project manager planned for managing changes to the schedule, it would be best to look at:

schedule management plan

estimate at completion (EAC) is a periodic evaluation of:

the anticipation totaled cost at project completion

Lag means:

waiting time

the schedule performance index of .76 means:

you are progressing at 76 percent of the rate originally planned