Exam 7: Monitoring and Controlling the Project

A common mistake is to focus too much on results and not enough on the intensity of activity.

Project monitoring and control can be thought of as opposite sides of project selection and planning.

If expenditures are lower than expected for a given period, this is always a good thing.

It is a good idea to use periodic reports so the project manager is always up-to-date on the project.

To maximize efficiency, project team meetings should follow Robert's Rules of Order.

Mauvin Maz, a fashion boutique, found that its newly acquired batch of raw materials did not meet the company's quality standards and was affecting the quality of its final products. In order to prevent any financial loss due to this problem, the top managers of Mauvin Maz decided to release a report to the workers asking them to stop using the newly acquired raw materials until a formal quality check is conducted. In this scenario, Mauvin Maz most likely released a(n) _____.

The total cost to complete a task is…

Explain why virtual projects may be necessary?

Remarks should be directly attributed to individuals in the meeting minutes.

In the traditional waterfall approach, when a project is evaluated to be 90% complete this typically means that there is 90% progress toward completing the project but likely 0% is actually completed and operational.

Earned value (EV) of a task is the budgeted cost of the work actually performed.

Exception reports are prepared to disseminate the results of a special study.

Walter, a luthier, is assigned with the task of building ten apartments in six months. He is given a budget of $1,500,000 to buy the necessary raw materials required for building ten apartments of same quality. In a period of four months, Walter is able to complete 75 percent of the work and spends $1,250,000 in the process. The project that Walter is working on has a spending variance of _____.

There are two primary purposes of control: the stewardship of organizational assets and the regulation of results through the alteration of activities.

What are the two primary purposes of control?

_____ analysis reports are prepared to disseminate the results of a special study in a project concerning a particular opportunity or problem for the project.

The go/no-go control takes the form of tests (sensors) to determine if some specific precondition (standard and comparator) has been met before permission is granted to continue (decision maker and effector).

The CPI is calculated as…

Weekly progress report meetings should be rarely held.

All good project plans have a change control system as a component. Briefly explain the change control process.