Exam 13: Progress and Performance Measurement and Evaluation

The best method for assigning costs to the baseline under the 50 / 50 rule is to establish frequent checkpoints over the duration of the work package and assign completion percentages in dollar terms.

A common project practice is to ignore straight labor hours when calculating earned value.

The earned value of a project is the

Schedule variance (SV) is in dollars and does not directly represent time. Why is it still useful?

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.

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

Which performance index is the most potentially misleading?

In reviewing the budget report of a project, you notice that spending on the project is running about 10 percent over plan. Is the project in trouble? Support your answer.

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

Most changes will not result in serious scope changes and should be absorbed as positive or negative variances.

What is the difference between a baseline Gantt chart and a tracking Gantt chart?

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

When reviewing the cost variance on a project, you compare Earned Value with

What is the percent complete rule and what role does it play when developing an earned value cost / schedule system?

Baseline costs typically include labor, equipment, materials and direct overhead cost.

Earned value is defined as the budgeted cost of the actual work performed.

Two project complete indexes are used, depending on your judgment of which one is most representative of your project. Identify both indexes and explain when it is most appropriate to use each.

The schedule variance for a project is calculated by:

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

A positive VAC indicates that the project will be completed under budget.