Exam 9: Monitoring and Controlling Project Performance

Consider the following project circumstances. Assume the information is accurate. PV = $5,000,000 EV = $9,000,000 AC = $12,000,000 BAC = $15,000,000 Estimated Duration = 24 months Elapsed Time To Date = 15 months The project sponsor has called the PM into her office and asked the PM to resolve the most serious problem represented by the data shown above. Which of these options would be most appropriate and important for the PM to consider first in following the sponsor's request?

A project team has worked for six months on a solar power project that will involve an entirely new technology. Early in the project, they chose a very specific approach from among several available, and they have continued pursuing this approach in spite of repeated failures. The project sponsor has warned them the project will be cancelled if they do not achieve success within one month. The team decides to stick with the current approach and work harder rather than experimenting with an alternative technology option. Which phenomenon best describes what has influenced the team's decision?

Given the following information about a project portfolio, what would be the most likely outcome associated with taking 10% of the resources from project A and giving them to project B? Assume the axis of the graph is the point where both CPI and SPI are equal to 1.

Given the following information at week 19 of a 57-week project: PV = 1,200 hours EV = 1,400 hours AC = 1,000 hours Schedule variance percent SV%) and cost variance percent CV%), respectively, would be:

Which of the following is important to consider when choosing metrics to monitor project performance?

Given the following information at week 12 of a 54-week project: PV = 1,200 hours EV = 1,400 hours AC = 1,000 hours Schedule variance percent SV%) and cost variance percent CV%), respectively, would be:

A project task is scheduled to begin on Monday and is estimated to require five days of full-time work for the assigned team member, Chauncey. He has delayed beginning any work on the task until Thursday afternoon and believes he can finish by the end of the day Friday. Which of the following phenomena best describes what has influenced Chauncey's behavior?

What is the difference between planned value PV) and earned value EV)?

Given the following information about a project: EV = $20,000 PV = $15,000 AC = $25,000 BAC = $40,000 Estimated Duration = 6 months Assuming this is the only information available, which of these can we legitimately conclude about the project?

Given the following information about a project: EV = $1,000,000 PV = $2,000,000 AC = $3,000,000 BAC = $4,000,000 What can we legitimately say about this project if this is the only information we have?

Which of the following is/are sources of influence that can cause actual project performance to differ from planned performance?

Review the following schedule for a small project involving only two activities: At the end of week two, progress information for Tasks A and B is as follows: PV AC \% Complete A \ 2,000 \ 1,000 50\% B \ 2,000 \ 3,000 50\% What can we conclude about the project at the end of week two?

What are possible values for earned value EV), planned value PV), and actual cost AC) if a project has an SPI of 0.5 and a CPI of 2.0?

Which of the following project monitoring tools would be most appropriate to use for a large, highly complex project such as the design and construction of a space station?

Which of the following offers the best advice for an organization that wishes to implement a project monitoring system for large scale, multi-year projects?

Given the following information about a project portfolio, what would be the most likely outcome associated with taking 10% of the resources from project A and giving them to project B? Assume the vertical and horizontal axes of the graph are the points where CPI and SPI are equal to 1.