Question 1

State the formula for SPI. Explain what SPI means and its relevance to monitoring and controlling a project.

Accepted Answer

The answer of State the formula for SPI. Explain what...

Question 2

Lower expenditures than expected at a given point in time is always good.

Accepted Answer

A) True 
 B)False

Question 3

The first step in setting up a monitoring system is to:

Accepted Answer

A)  identify personnel 
B)  identify all project milestones 
C)  identify key factors to be controlled 
D)  identify reports required 
E)  develop a change request form

Question 4

Nadia, an intern in a restoration firm, collects data on a project involving the remodeling of a monument and sends the collected information to Maria, her supervisor. Maria uses this data to estimate the project's progress. After finding that the project is behind schedule, she makes small changes to the tasks involved in the project to bring the performance into agreement with the plan. In this scenario, Maria is engaged in _____ the project.

Accepted Answer

A)  monitoring 
B)  planning 
C)  scoping 
D)  controlling 
E)  analyzing

Question 5

The 50-50 approach for estimating progress overstates the EV of tasks that are near completion and understates the EV of tasks that have recently begun.

Accepted Answer

A) True 
 B)False

Question 6

The most important use of data gathered from monitoring is control.

Accepted Answer

A) True 
 B)False

Question 7

Estimated (remaining cost) to completion (ETC) is calculated as…

Accepted Answer

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

Question 8

In earned value analysis…

Accepted Answer

A)  it is desirable to have negative variances for both schedule and spending. 
B)  it is desirable to have positive variances for both schedule and spending. 
C)  the schedule variance should be positive and the spending variance negative. 
D)  the schedule variance should be negative and the spending variance positive. 
E)  ideally both variances would equal zero.

Question 9

Monitoring is the direct connection between project planning and control.

Accepted Answer

A) True 
 B)False

Question 10

According to the text, there is no satisfactory way to measure accurately the percent of completion of most tasks.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is not a tool used to aid the PM in project control?

Accepted Answer

A)  variance analysis 
B)  trend projections 
C)  earned value analysis 
D)  control charts 
E)  discounted cash flow analysis

Question 12

Explain how an earned value chart can be used to help monitor and control a project.

Accepted Answer

The answer of Explain how an earned value chart can...

Question 13

The plan-monitor-control cycle constitutes an "ongoing open loop" process.

Accepted Answer

A) True 
 B)False

Question 14

Significant differences from the plan should be archived so they can be reviewed once the project is completed.

Accepted Answer

A) True 
 B)False

Question 15

The purpose of control is to assign blame.

Accepted Answer

A) True 
 B)False

Question 16

The plan-monitor-control cycle is best described as…

Accepted Answer

A)  an open loop process 
B)  a closed-loop process 
C)  an ad-hoc process 
D)  an informal process 
E)  a hierarchical process

Exam 7: Monitoring and Controlling the Project

State the formula for SPI. Explain what SPI means and its relevance to monitoring and controlling a project.

Lower expenditures than expected at a given point in time is always good.

The first step in setting up a monitoring system is to:

The 50-50 approach for estimating progress overstates the EV of tasks that are near completion and understates the EV of tasks that have recently begun.

The most important use of data gathered from monitoring is control.

Estimated (remaining cost) to completion (ETC) is calculated as…

In earned value analysis…

Monitoring is the direct connection between project planning and control.

According to the text, there is no satisfactory way to measure accurately the percent of completion of most tasks.

Which of the following is not a tool used to aid the PM in project control?

Explain how an earned value chart can be used to help monitor and control a project.

The plan-monitor-control cycle constitutes an "ongoing open loop" process.

Significant differences from the plan should be archived so they can be reviewed once the project is completed.

The purpose of control is to assign blame.

The plan-monitor-control cycle is best described as…