Ch. 13 Quiz bank

Baseline project budgets are derived from time-phasing the work ________.

milestones

packages

products

resources

modules

packages

In monitoring project time (schedule) performance, actual performance should be compared to

previous status reports.

top management's targets.

project network schedule derived from the WBS/OBS.

budgets for the current year.

progress on similar past projects.

project network schedule derived from the WBS/OBS.

The first step in the project control process for measuring and evaluating project performance is to

determine the project deliverables.

determine the project objectives.

set a baseline plan.

review the project priority matrix.

analyze the project budget.

set a baseline plan.

A tool used to monitor past project schedule performance and current performance, and to estimate future schedule trends is a simple line chart known as a

PERT chart.

project control chart.

milestone chart.

Gantt chart.

network diagram.

project control chart.

Because of their easy-to-understand visual format, ________ charts are the most favored, used, and understandable tool used to report project schedule status.

Gantt

Cost/schedule

Network

Work breakdown structure

Burndown

Gantt

Which of the following methods of variance analysis is the best indicator of how far off the budget a project will be at completion?

EAC

VAC

TCPI

ETC

BAC

VAC

The value that tells you the planned value of work that has actually been completed is the

CV.

PV.

AC.

SV.

EV.

EV.

When someone familiar with each task estimates what percent of the task has been completed or how much of the task remains, they are creating a method for assigning costs to the baseline called the ____________ rule.

percent complete

estimation

estimated cost

estimation method

estimated completion

percent complete

A negative CV indicates the project is currently ________ budget.

over

ahead of

behind

on track with

under

over

A negative cost variance combined with a negative schedule variance is an indicator of

planned value exceeding earned value.

budget over-runs.

actual cost exceeding earned value.

All of these alternatives are correct.

behind schedule.

All of these alternatives are correct.

Given an EAC of $10,000 and a BAC of $15,000, the project is expected to be completed _________.

under budget

on budget

under budget but behind schedule

over budget but ahead of schedule

over budget

under budget

Which performance index is the most potentially misleading?

EV

CV

EAC

CPI

SV

SV

Given that the AC = 500, PV = 400 and EV = 300, this project is currently _________ budget and ______ schedule.

over, ahead of

under, behind

on, on

under, ahead of

over, behind

over, behind

A CPI index of 1.18 indicates that the project is currently ________ schedule.

behind

cannot be determined.

ahead of

over

under

cannot be determined

The indicator that tells you the amount each remaining dollar must earn for the project to stay within budget is the

SPI.

TCPI.

CPI.

PCIC.

VAC.

TCPI.

The _________ index measures the project percent complete in relation to the resources that were budgeted.

EAC

PCIB

TCPI

CPI

SPI

PCIB

Which of the following is NOT true regarding scope creep?

It wears down team motivation and cohesiveness.

It is frequently unnoticed until time delays or cost overruns are observed.

It commonly occurs late in projects.

Project suppliers resent frequent changes.

Scope changes can represent significant opportunity.

It commonly occurs late in projects.

Which of the following is not one of the four steps for measuring and evaluating project performance?

setting a baseline budget

setting a baseline plan

comparing plan against actual

taking action

measuring progress and performance

setting a baseline budget

Which of the following are required to assess the current status of a project using the earned-value cost/schedule system?

PV, EV, AC

CV, SV, BAC,

TCPI, EV, and PV

BAC, EAC, and ETC

VAC,EAC, and BAC

PV, EV, AC

A project manager just received the following information on her project: PV = 300, EV = 300, AC = 200. In terms of cost at completion,

the project will currently finish under budget, assuming the project continues to perform in this way.

the project will currently finish on budget, assuming the project continues to perform in this way.

the project will currently finish behind schedule, assuming the project continues to perform in this way.

the project will currently finish over budget, assuming the project continues to perform in this way.

there is insufficient information to draw conclusions

the project will currently finish under budget, assuming the project continues to perform in this way.

The indicator that tells you the planned time-phased value of the work that is scheduled is the _______________.

none of these

schedule variance (SV)

cost variance (CV)

planned value (PV)

earned value

planned value (PV)

The ________ variance is the difference between the earned value and the actual costs for the work completed to date.

time

budget

schedule

performance

cost

cost

A project can have a negative schedule variance and still be ahead of schedule when

progress on the critical path is faster than non-critical path tasks.

all budget targets have been achieved.

earned value exceeds planned value.

None of these alternatives is correct.

actual cost exceeds earned value.

progress on the critical path is faster than non-critical path tasks.

The schedule variance for a project is calculated by:

EV-PV

AC-SV

CV-EV

PV-EV

EV-AC

EV-PV

A program financial accountant learns that a project is currently earning $1.15 for each dollar actually spent. The accountant is able to determine this by looking at the

bac

SV

SPI

EV

CPI

CPI

Which of the following methods will measure the scheduling efficiency of the work accomplished to date?

EV/PV

AC/CV

SV/CV

EV/AC

AC/SV

EV/PV

The ________ rule assumes credit is earned for having performed the work once it is completed. This rule is usually used for work packages having very short durations.

50/50

one-to-ten

0/100

one-to-one

50/100

0/100

Conditions or scope can change during execution, which, in turn, will require a change to the __________ plan to recognize the new information.

overall

project

budget

schedule

baseline

baseline

The project network schedule is derived from the _______ and it serves as the baseline to compare against actual performance.

Organization Breakdown Structure

Risk Breakdown Structure

Gantt Chart

Work Breakdown Structure

Risk Register

Work Breakdown Structure

Taking action in the four steps for measuring and evaluating project performance can only happen after _________.

setting a baseline plan.

comparing plan against actual.

measuring progress and performance.

writing a progress and performance report.

setting a baseline budget.

comparing plan against actual.

The second step in the project control process for measuring and evaluating project performance is to

review spending with team members.

measure progress and performance.

review the baseline plan with top management.

analyze inputs to control system.

compare plan against actual.

measure progress and performance.

The start of a task may be moved on a tracking Gantt due to

All of these alternatives are correct.

increase in earned value.

Both an increase in earned value and a lack of an updated control chart.

a predecessor task starting late.

lack of an updated control chart.

a predecessor task starting late.

When a predecessor task starts late, any slack can be used up very quickly and could move the start of another task.

A ___________ Gantt chart is a simple and effective way to depict progress on a project.

tracking

variance

baseline

control

simple

tracking

The earned value of a project is the

percent of the original budget that has been earned by work that is completed.

the planned time-phased baseline of the value of work scheduled.

project cost to date adjusted for project scope changes.

cost incurred minus the planned cost.

total project cost to date.

percent of the original budget that has been earned by work that is completed.

________ is simply the percent complete times the original budget.

Actual cost

Cost Performance Index

Budget at Completion

Earned value

Schedule Performance Index

Earned value

A Cost/Schedule graph can be interpreted using ___________ for its vertical axis and _______ for its horizontal axis.

Earned Value; Schedule.

None of these alternatives is correct.

Dates; Actual Cost.

Dollar Amounts; Time.

Baseline; Deadline.

Dollar Amounts; Time.

Which of the following methods will measure the cost efficiency of the work accomplished to date?

EV/PV

SV/CV

AC/SV

EV/AC

AC/CV

EV/AC

A team leader tells the project manager that as of right now, $1.20 worth of work has been accomplished for each $1 worth of scheduled work. The team leader got this information from viewing the

SPI.

PCIB.

CPI.

TCPI.

SV.

SPI.

The third step in the project control process for measuring and evaluating project performance is to

analyze inputs to the control system.

measure both progress and performance.

compare the plan against actual performance.

review the baseline plan with top management.

review spending with team members.

compare the plan against actual performance.

A reason that the duration on a task may differ from an original duration on a tracking Gantt chart could be

the task has been cancelled.

a new budget cycle.

an unexpected delay.

new information on the task.

an expected delay.

new information on the task.

The chief financial officer receives the following information on a project: PV = 10,000, EV = 12,000, AC = 8,000, BAC = 20,000, EAC = 13,333. How is the project doing in terms of schedule?

There is not enough information to draw a conclusion

More work has been done than planned

The project has cost more than planned

Less work has been done than planned

The same amount of work has been done than planned

More work has been done than planned

A project manager receives the following information on his project: PV = 4,500, AC =4,000, EV = 5,000. How well is the project doing in terms of budget?

Right on budget

500 over budget

500 under budget

1,000 over budget

1,000 under budget

1,000 under budget

A CPI or SPI value less than one indicates that the project is currently

under cost or behind schedule.

over cost or behind schedule.

over cost or ahead of schedule.

under cost or ahead of schedule.

on cost or on schedule.

over cost or behind schedule.

Although it is very difficult to measure, measuring ________ performance is as important as measuring schedule and cost performance.

risk

technical

human resources

procurement

stakeholder

technical

Baseline project budgets are derived from

The total direct, direct project overhead and G&A overhead costs.

Top management directions

The organization's overall budget

Time-phasing the work packages

The earned value system

Time-phasing the work packages

A project monitoring system involves all of the following EXCEPT

Adjusting the data

Determining what data to collect

Determining how, when, and who will collect the data

Reporting current progress

Analysis of the data

Adjusting the data

The first step in the project control process for measuring and evaluating project performance is to

Determine the project deliverables

Analyze the project budget

Review the project priority matrix

Determine the project objectives

Set a baseline plan

Set a baseline plan

A _________Gantt chart is a simple and effective way to depict progress on a The value that tells you how much work has been completed in dollars of value is

Planned value

Budgeted cost of work scheduled

Earned value

Baseline plan

Q cost

Earned value

The value that tells you the planned value of work that has actually been completed is the

AC

SV

CV

PV

EV

EV

he indicator that tells you the planned time-phased value of the work that is scheduled is the .

Cost variance (CV)

Earned value (EV)

Schedule variance (SV)

Planned value (PV)

None of these alternatives is correct

Planned value (PV)

Given that the AC = 500, PV = 400 and EV = 300, this project is currently budget and schedule.

On, on

Over, behind

Over, ahead of

Under, ahead of

Under, behind

Over, behind

The _______ variance is the difference between the earned value to date and the baseline schedule.

Schedule

Budget

Performance

Time

Cost

Schedule

A negative CV indicates the project is currently ________ budget.

Under

Behind

On track with

Ahead of

Over

Over

A project manager notices that $5,560 worth of work that was scheduled to be completed at this time has not been accomplished. She knows this by looking at the

PCIB

SV

TCPI

EV

EAC

SV

Which of the following methods will measure the scheduling efficiency of the work accomplished to date?

EV/PV

EV/AC

AC/CV

SV/CV

AC/SV

EV/PV

The earned value system starts with the time-phased costs that provide the project baseline, which is called the

planned budgeted value of work scheduled.

planned budgeted value of work completed.

scheduled value of work completed.

earned value of work scheduled.

scheduled value of work scheduled.

planned budgeted value of work scheduled.

The cost variance for a project is calculated by

EV-PV

CV-EV

PV-EV

AC-SV

EV-AC

EV-AC

The ________ variance is the difference between the earned value to date and the baseline schedule.

budget

schedule

cost

performance

time

schedule

Causes for scope creep can include

All of these alternatives are correct.

newly identified features.

users want more functionality.

incorrect design assumptions.

new technology.

All of these alternatives are correct.

Of the following costs, which are NOT included in baseline?

suppliers

labor

contractors

equipment

budget reserves

budget reserves

The final step in the project control process for measuring and evaluating project performance is to

take appropriate action.

prepare a report to top management.

review spending with team members.

measure progress and performance.

follow up on corrective action.

take appropriate action.

The value that tells you how much work has been completed in dollars of value is ___________.

actual cost

budgeted cost of work scheduled

baseline plan

planned value

earned value

earned value

Which of the following is not a benefit of Earned Value Management?

A.Provides for accountability over individual portions of the overall budget for each organization unit.

B.Measures accomplishments against plan and deliverables.

C.Enables the project manager to ascertain problem paths within the project network and when the critical path is underperforming.

D.Provides a method for tracking directly to a problem work package and organization unit responsible.

E.Alerts all stakeholders to early identification of problems and allows for quick, proactive corrective action.

C. Enables the project manager to ascertain problem paths within the project network and when the critical path is underperforming.