Quizz - Chapter 13 - PM - Winter 2018 OSU
34. Usually status reports should take place every ________ weeks to be useful and allow for proactive correction.
1 - 4 weeks
42. When measuring percent complete in the monitoring phase of the project, it is common to limit the amount earned to __________ until the work package is 100 percent complete.
80 or 90 percent
10. 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
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
30. 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
4. 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
52. The PCIB index measures the project percent complete in relation to the resources that were budgeted. A. True B. False
A
53. The PCIC index measures the project percent complete in relation to the resources that have actually been used so far on the project. A. True B. False
A
54. Control is one of the most neglected areas of project management. A. True B. False
A
56. Earned value is defined as the budgeted cost of the work performed. A. True B. False
A
57. The baseline is derived from merging information from the work packages with the project network. A. True B. False
A
59. In a project control chart, four observations trending in one direction indicate there is a very high probability that there is an identifiable cause. A. True B. False
A
60. Milestones are significant project events that mark major accomplishments. A. True B. False
A
61. The best method for assigning costs to the baseline under this rule is to establish frequent checkpoints over the duration of the work package and assign completion percentages in dollar terms. A. True B. False
A
62. The original earned value cost/schedule system was pioneered by the U.S. Department of Defense in the 1960s. A. True B. False
A
63. Earned value is calculated by taking the percent complete times the original budget. A. True B. False
A
66. The major reasons for creating a baseline are to monitor and report progress and to estimate cash flow. A. True B. False
A
7. 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
71. One method of estimating the costs to complete a project is to divide the work remaining by the CPI. A. True B. False
A
74. The key to managing scope creep is change management. A. True B. False
A
76. The rule of using subjective estimated percent complete in combination with hard, tangible monitoring points works well on long-duration activities that can be broken into short discrete work packages. A. True B. False
A
26. 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 - Percent Complete Index
15. 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
25. 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
28. 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
69. Cost variance tells us the different estimates among vendors needed to complete the project over the life of the project. A. True B. False
B
70. A CPI index of 0.97 indicates that the project has spent less money than budgeted. A. True B. False
B
72. All scope changes that result in increased costs should be avoided. A. True B. False
B
73. Scope Creep refers to any significant changes made in the project once it is underway. A. True B. False
B
9. 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
65. Overhead costs and profit are typically included in the project baseline. A. True B. False
B - Accounting progress
58. The network chart is the most favored, used, and understandable option for reporting project progress to upper management. A. True B. False
B - Gantt charts
64. Baseline costs typically include labor, equipment, materials and direct overhead cost. A. True B. False
B - Labor, equipment, materials
55. Measuring performance against budget is simply a case of comparing actual versus budget. A. True B. False
B - More difficult
68. An undesirable schedule variance indicates that the project is running behind schedule. A. True B. False
B - Problem, changes
22. 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 - Scheduling Performance Index
67. In calculating schedule variance and cost variance, a negative variance indicates a desirable condition, and a positive variance suggests problems. A. True B. False
B - Undesirable
75. The best defense against scope creep is accepting only major changes. A. True B. False
B - Well defined
49. An SPI index of 1.22 indicates that the project is ________ schedule.
Behind
1. A project monitoring system involves all of the following except: A. Determining what date 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
6. 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
8. 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
21. 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 - Cost Performance Index
27. 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 - Percent Complete Index
41. The best method for assigning costs to the baseline is to establish frequent __________ over the duration of the work package.
Checkpoints
31. ________ holds people accountable, prevents small problems from mushrooming into large problems, and keeps focus.
Control
38. The ________ is the difference between the earned value and the actual costs for the work completed to date.
Cost variance
11. n 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
12. he 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
18. 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
D
19. 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
23. 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
5. 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
20. 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 - Cost Variation at Completion
45. A positive variance in SV or CV indicates a ________ condition.
Desirable
46. The units of measure for SV or CV is in terms of ________.
Dollars
14. 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
16. 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
17. 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
2. 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
24. 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
29. 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
3. 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
33. A concept of ________ is necessary to get a realistic estimate of performance against a time-phased budget.
Earned value
40. ________ is simply the percent complete, times the original budget.
Earned value
35. Because of their easy-to-understand visual format, ________ are the most favored, used, and understandable tool used to report project status.
Gantt charts
36. Control charts are frequently used to monitor progress toward ________, which mark events and as such have zero duration.
Milestones
43. The ________ is the rule most frequently used by practicing project managers to both assign costs to the baseline and to measure progress using earned value.
Percent complete
48. The ________ indexes compare the to-date progress to the end of the project.
Percent complete
47. CPI and SPI are two types of indexes that measure ________.
Performance efficiency
37. The ________ is a tool used to monitor past project schedule performance and current performance and to estimate future schedule trends.
Project schedule control chart
39. The ________ is the difference between the earned value to date and the baseline schedule.
Schedule variance
32. The first step in creating a project control system for measuring and evaluating project performance is to ________.
Set up a baseline plan
50. Although it is very difficult to measure, measuring ________ performance is as important as measuring schedule and cost performance.
Technical
51. The best defense against scope creep is a __________.
Well-defined scope statement
44. Cost variance tells us if the ________ costs are more or less than was planned at any point over the life of the project.
Work accomplished
