Question 1

Statement: A single-value estimate of the completion time or cost (EAC) accounts for the uncertainty in the project EV estimate.

Accepted Answer

A) True 
 B)False  False

Question 2

Statement: Project control primarily involves monitoring performance, comparing performance to standards, and taking necessary corrective action.

Accepted Answer

A) True 
 B)False  True

Question 3

Which of the following are true about formal project review meetings (circle all that apply):

Accepted Answer

A)  Their purpose is to prepare project plans, schedules, and budgets. 
B)  Their purpose is to identify deviations from the plan and to enable quick corrective action. 
C)  They are usually performed by members of the project team. 
D)  They can be performed by objective "outsiders." 
E)  Because they rely largely on observations and opinions, they tend not to be an effective way to monitor projects. 
A)  Their purpose is to prepare project plans, schedules, and budgets. 
B)  Their purpose is to identify deviations from the plan and to enable quick corrective action. 
C)  They are usually performed by members of the project team. 
D)  They can be performed by objective "outsiders." 
E)  Because they rely largely on observations and opinions, they tend not to be an effective way to monitor projects. B, D

Question 4

Ways to control the adverse impact of changes in a project include (circle all that apply):

Accepted Answer

A)  make sure that original plans and schedules are agreed to by everyone involved. 
B)  make sure all work exceeds specifications. 
C)  make many small changes on a continuous basis instead of a few big ones. 
D)  require that all changes be documented, reviewed, and approved. 
E)  put a freeze on changes as soon as the system is delivered to the customer. 
A)  make sure that original plans and schedules are agreed to by everyone involved. 
B)  make sure all work exceeds specifications. 
C)  make many small changes on a continuous basis instead of a few big ones. 
D)  require that all changes be documented, reviewed, and approved. 
E)  put a freeze on changes as soon as the system is delivered to the customer.

Question 5

Match the following formulas with their appropriate performance measures.
-EV/AC

Accepted Answer

A)  AV 
B)  SV 
C)  CV 
D)  SPI 
E)  CPI 
A)  AV 
B)  SV 
C)  CV 
D)  SPI 
E)  CPI

Question 6

Statement: The number of changes made during a project can often be reduced through better planning in the early stages.

Accepted Answer

A) True 
 B)False

Question 7

To implement a time buffer (circle one):

Accepted Answer

A)  start with the early finish time, and move it up (make it earlier) 
B)  start with the early finish time, and move it back (make it later) 
C)  start with the late finish time, and move it up (make it earlier) 
D)  start with the late finish time, and move it back (make it later) 
A)  start with the early finish time, and move it up (make it earlier) 
B)  start with the early finish time, and move it back (make it later) 
C)  start with the late finish time, and move it up (make it earlier) 
D)  start with the late finish time, and move it back (make it later)

Question 8

Among important ways to assess the status of a project are (circle all that apply):

Accepted Answer

A)  informal peer review meetings 
B)  daily standup meetings 
C)  post-completion project review meeting 
A)  informal peer review meetings 
B)  daily standup meetings 
C)  post-completion project review meeting

Question 9

How or where is work progress measured (circle all that apply):

Accepted Answer

A)  tests and demonstrations 
B)  opinions of customers 
C)  design review meetings 
D)  opinions of work supervisors and managers 
E)  dollars spent thus far 
A)  tests and demonstrations 
B)  opinions of customers 
C)  design review meetings 
D)  opinions of work supervisors and managers 
E)  dollars spent thus far

Question 10

Match the following formulas with their appropriate performance measures.
-EV - AC

Accepted Answer

A)  AV 
B)  SV 
C)  CV 
D)  SPI 
E)  CPI 
A)  AV 
B)  SV 
C)  CV 
D)  SPI 
E)  CPI

Question 11

Use the following information to perform an earned value analysis.
   Summary analysis, as of "Status Date"
a. Complete the PV column.
b. Complete the EV column.
c. What is the value of the work remaining on the project?
d. What is the CPI as of the status date?
e. Given the value of the work remaining and the CPI, what is the estimated cost
to complete the project?
f. Given the actual cost as of the status date and estimated cost to complete, what is the
estimated cost at completion?

Accepted Answer

The answer of Use the following information to perform an...

Question 12

Statement: To reduce confusion and increase the accuracy of work progress assessment, it is better to use one method of assessment rather than several.

Accepted Answer

A) True 
 B)False

Question 13

About the project control process (circle all that apply):

Accepted Answer

A)  it puts one factor, cost, above all others as the focal point of control 
B)  to be effective, management must support and be willing to take firm action to resolve issues involving project control 
C)  to be effective, it must be impersonal, objective, and uniformly applied throughout all elements of the project 
D)  managers in charge of multiple projects must monitor and control them individually 
E)  it begins with thorough, comprehensive project planning 
A)  it puts one factor, cost, above all others as the focal point of control 
B)  to be effective, management must support and be willing to take firm action to resolve issues involving project control 
C)  to be effective, it must be impersonal, objective, and uniformly applied throughout all elements of the project 
D)  managers in charge of multiple projects must monitor and control them individually 
E)  it begins with thorough, comprehensive project planning

Question 14

Suppose a project was originally estimated to cost $100,000, and as of a given date the EV is $80,000 and the CPI is 0.80. What is the forecast cost to complete the project?

Accepted Answer

A)  $20,000 
B)  $25,000 
C)  $24,000 
D)  none of these 
A)  $20,000 
B)  $25,000 
C)  $24,000 
D)  none of these

Question 15

Statement: By monitoring performance indexes and variances at the project level only, it is possible to determine if everything is going well in the project.

Accepted Answer

A) True 
 B)False

Question 16

Statement: Quality control in projects begins with creating a quality management plan.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following might project managers employ to reduce schedule overruns? (circle all that apply):

Accepted Answer

A)  adding time buffers to the schedule 
B)  multi-tasking 
C)  procrastination by workers 
A)  adding time buffers to the schedule 
B)  multi-tasking 
C)  procrastination by workers

Question 18

Statement: Project planning and project control are independent and unrelated functions.

Accepted Answer

A) True 
 B)False

Question 19

Technical Performance Measurement (TPM) provides (circle all that apply):

Accepted Answer

A)  an estimate of performance as of a given date 
B)  a way of determining which performance measures are the most reliable 
C)  a forecast of ultimate performance given the current rate of development 
D)  a way for managers to make systematic tradeoff decisions concerning the performance of subsystems and components 
A)  an estimate of performance as of a given date 
B)  a way of determining which performance measures are the most reliable 
C)  a forecast of ultimate performance given the current rate of development 
D)  a way for managers to make systematic tradeoff decisions concerning the performance of subsystems and components

Question 20

Statement: A plus sign (+) before a schedule performance index (SPI) means that work is running ahead of schedule and a minus sign (-) before a cost performance index (CPI) means that the work is running over budget.

Accepted Answer

A) True 
 B)False

Statement: A single-value estimate of the completion time or cost (EAC) accounts for the uncertainty in the project EV estimate.

Statement: Project control primarily involves monitoring performance, comparing performance to standards, and taking necessary corrective action.

Which of the following are true about formal project review meetings (circle all that apply):

Ways to control the adverse impact of changes in a project include (circle all that apply):

Match the following formulas with their appropriate performance measures. -EV/AC

Statement: The number of changes made during a project can often be reduced through better planning in the early stages.

To implement a time buffer (circle one):

Among important ways to assess the status of a project are (circle all that apply):

How or where is work progress measured (circle all that apply):

Match the following formulas with their appropriate performance measures. -EV - AC

Statement: To reduce confusion and increase the accuracy of work progress assessment, it is better to use one method of assessment rather than several.

About the project control process (circle all that apply):

Suppose a project was originally estimated to cost $100,000, and as of a given date the EV is $80,000 and the CPI is 0.80. What is the forecast cost to complete the project?

Statement: By monitoring performance indexes and variances at the project level only, it is possible to determine if everything is going well in the project.

Statement: Quality control in projects begins with creating a quality management plan.

Which of the following might project managers employ to reduce schedule overruns? (circle all that apply):

Statement: Project planning and project control are independent and unrelated functions.

Technical Performance Measurement (TPM) provides (circle all that apply):

Statement: A plus sign (+) before a schedule performance index (SPI) means that work is running ahead of schedule and a minus sign (-) before a cost performance index (CPI) means that the work is running over budget.

What Is Project Management

Systems Approach

Project Life Cycle and Project Conception

Project Definition and System Definition

Project Execution and Closeout

Basic Project Planning Techniques

Project Schedule Planning and Networks

Advanced Project Network Analysis and Scheduling

Cost Estimating and Budgeting

Project Quality Management

Project Risk Management

Project Procurement Management and Contracting

Agile Project Management and Lean

Project Organizational Structure and Integration

Project Roles and Stakeholders

Leadership, Teamwork, and Conflict

Meta-Management of Projects and Program Management

Project Selection and Portfolio Management

International Project Management

Filters

Exam 13: Project Monitoring and Control

Statement: A single-value estimate of the completion time or cost (EAC) accounts for the uncertainty in the project EV estimate.

Statement: Project control primarily involves monitoring performance, comparing performance to standards, and taking necessary corrective action.

Which of the following are true about formal project review meetings (circle all that apply):

Ways to control the adverse impact of changes in a project include (circle all that apply):

Match the following formulas with their appropriate performance measures. -EV/AC

Statement: The number of changes made during a project can often be reduced through better planning in the early stages.

To implement a time buffer (circle one):

Among important ways to assess the status of a project are (circle all that apply):

How or where is work progress measured (circle all that apply):

Match the following formulas with their appropriate performance measures. -EV - AC

Statement: To reduce confusion and increase the accuracy of work progress assessment, it is better to use one method of assessment rather than several.

About the project control process (circle all that apply):

Suppose a project was originally estimated to cost $100,000, and as of a given date the EV is $80,000 and the CPI is 0.80. What is the forecast cost to complete the project?

Statement: By monitoring performance indexes and variances at the project level only, it is possible to determine if everything is going well in the project.

Statement: Quality control in projects begins with creating a quality management plan.

Which of the following might project managers employ to reduce schedule overruns? (circle all that apply):

Statement: Project planning and project control are independent and unrelated functions.

Technical Performance Measurement (TPM) provides (circle all that apply):

Statement: A plus sign (+) before a schedule performance index (SPI) means that work is running ahead of schedule and a minus sign (-) before a cost performance index (CPI) means that the work is running over budget.

What Is Project Management

Systems Approach

Project Life Cycle and Project Conception

Project Definition and System Definition

Project Execution and Closeout

Basic Project Planning Techniques

Project Schedule Planning and Networks

Advanced Project Network Analysis and Scheduling

Cost Estimating and Budgeting

Project Quality Management

Project Risk Management

Project Procurement Management and Contracting

Agile Project Management and Lean

Project Organizational Structure and Integration

Project Roles and Stakeholders

Leadership, Teamwork, and Conflict

Meta-Management of Projects and Program Management

Project Selection and Portfolio Management

International Project Management

Filters