Exam 7: Monitoring and Controlling the Project

Control is the act of reducing the differences between the plan and actuality.

Avoiding scope creep is not possible.

The key to setting up a monitoring system is to identify the special characteristics of scope, cost and time that need to be controlled in order to achieve the project goals.

What is earned value?

List and briefly describe the three distinct types of reports.

The plan-monitor-control cycle constitutes a "closed loop" process.

In Agile, 90% complete means that the 90% highest requirement features are completed and are in operational testing.

Too often, intensity of activity is measured instead of results.

Robert, a baker, receives an order for preparing 10 cakes in one day. He is given a budget of $5,0In six hours, he bakes two-thirds of the order and spends $3,6Calculate the schedule performance index from the given scenario.

Mechanisms to gather and store data rarely need to be designed.

The purpose of the sprint review meeting is to demonstrate the product functionality that was created during the sprint and to obtain feedback from key stakeholders to optimize future value.

Define the terms monitoring and control.

To calculate the variable in its economic growth, Nunclemen Inc., a pharmaceutical company, collects data on the sales of its products based on how many doctors prescribe its medicines to their patients. However, a research study conducted by the company shows that pharmacists are a more reliable source than doctors. Nunclemen submits a report of this finding to all its stakeholders to review. Which of the following types of reports has the company used to inform its stakeholders of the results of the research study?

Control is the collection, recording, and reporting of project information.

In order to manage for overall project success, control must be exercised at the detailed work level for each aspect of project performance.

The schedule variance is calculated as…

Exception reports are primarily intended for unexpected situations.

In general, it is preferable to have periodic reports.

All reports go to the steering committee when the project is completed.

Kimberley, a project manager in a software development company, is assigned a new project. She is given a budget of $500,000 and a span of six months to complete the project. In three months, she is able to complete 50 percent of the project. In this scenario, the earned value of the work completed is _____.