Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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) _____.

Accepted Answer

A)  special analysis report 
B)  periodic report 
C)  exception report 
D)  routine report 
E)  resource report

Question 7

The total cost to complete a task is…

Accepted Answer

A)  (BAC - EV) / CPI 
B)  ETC / AC 
C)  EV / AC 
D)  ETC + AC 
E)  ETC + (AC / EV)

Question 8

Explain why virtual projects may be necessary?

Accepted Answer

The answer of Explain why virtual projects may be necessary?...

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

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.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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 _____.

Accepted Answer

A)  $350,000 
B)  $150,000 
C)  $430,000 
D)  $125,000 
E)  $500,000

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

What are the two primary purposes of control?

Accepted Answer

The answer of What are the two primary purposes of...

Question 16

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

Accepted Answer

A)  Routine 
B)  Exception 
C)  Special 
D)  Emergency 
E)  Go/no-go

Question 17

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).

Accepted Answer

A) True 
 B)False

Question 18

The CPI is calculated as…

Accepted Answer

A)  AC / EV 
B)  EV / PV 
C)  PV / EV 
D)  AC / PV 
E)  EV / AC

Question 19

Weekly progress report meetings should be rarely held.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

The answer of All good project plans have a change...

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.

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.

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.