Chat with AIExam 8: Managing Project Stakeholders and Communication
A _________ is a formal or informal meeting that shows evidence of project work that has been completed and work and provides a forum for surfacing issues, problems, decision-making.
(36) 
VerifiedB
Cost Variance (CV) is __________
(40) VerifiedE
Describe how the SPI and CPI can be used to forecast the final cost of a project.
(31) VerifiedThe schedule performance index (SPI) provides a ratio of the work performed to the work scheduled. This metric provides a measure of schedule efficiency. An SPI ratio greater than one indicates that the project is ahead of schedule and an SPI under one indicates the project is behind schedule. The cost performance index (CPI) tells us how much work we are completing for every dollar we spend. It is the ratio the budgeted cost of work performed to the actual cost of work performed. Suppose one were to calculate the SPI and the CPI in the midst of a project and find their values different from one (i.e. the project is ahead or behind schedule and over or under budget). If nothing changes (i.e., the project's performance does not get any better or any worse) then the minimum cost of completing the project could be estimated by dividing the original total budget by the CPI. However, if the SPI ratio were to persist and things continued to get better or worse (depending on the SPI value), then the final project cost could be estimated by dividing the original budget by the product of the CPI and the SPI.
The purpose of a project review is to not only show evidence that the project work is being completed, but also that the work is being completed according to various standards or agreed upon requirements.
(22) The Expected Time Complete (ETC) provides an estimate for completing the scheduled work that remains.
(36) The project manager must have a clear picture of how the actual progress or work compares to the baseline plan in order to make well-informed decisions, take appropriate actions, or to make adjustments to the project plan.
(38) A _________ describes the present state of the project and provides compares the project's actual progress to the baseline plan.
(34) A metric that provides an estimate for completing the scheduled work that remains once the project is started is called the
(30) Which of the following is not likely a characteristic of a good project metric?:
(30) What is the purpose of a project communications plan? What kinds of things should this plan address?
(35) The Estimate At Completion (EAC) is a project metric that can be used to estimate the most likely total or final cost of the project based on the project's performance and any risks that should be considered.
(33) What are the strengths and weaknesses of the major information distribution channels covered in the text?
(35) 
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