Exam 8: Managing Project Stakeholders and Communication

Barring a change in project scope and given a Schedule Performance Index (SPI) that is greater than 1, the most reasonable inference to draw is that:

Budget At Completion (BAC) is __________

Why should a project manager be concerned with monitoring a project's progress?

Schedule Variance (SV) is __________

A good project metric should be understandable, quantifiable, cost effective, proven, and be effective.

Briefly describe the common categories of project reporting.

Expected Time to Completion (ETC) is __________

One attribute of a good project metric is that it should be subjective so that a stakeholder can understand the project manager's personal opinion or insight as to how the project is progressing.

A _________ predicts the future status or progress of the project.

Barring a change in project scope and given a Cost Performance Index (CPI) that is less than 1, the most reasonable inference to draw is that:

If a stakeholder has been judged to adversarial and having a vested interest in the failure of your project, it would probably be wise to keep him/her out of the communication loop.

The budgeted cost of work scheduled for an activity or component of the WBS is the _____.

If you hired a consulting firm to develop a system which is estimated to take four months to complete with the tasks evenly divided over the four months and you agree to pay for the project with equal monthly installments, those payments would be called:

What are the characteristics of a good project metric?

Earned value provides a performance measurement that tells us how much of the budget we really should have spent for the work completed so far.

Budget At Completion (BAC) is the total planned cost of a project.

All of the project stakeholders should receive exactly the same information regarding the project's progress in order to eliminate any miscommunication.

Generally, the more metrics one adopts, the greater the project control.

If we know the Actual Cost of a WBS component, what other value do we need to know in order to calculate the cost performance index (CPI)?

The metric that provides an estimate of the most likely total or final cost of the project based on the project's performance and any risks that should be considered is the: