Deck 9: Monitoring and Controlling Project Performance

Question 1

Given the following information about a project:
EV = $1,000,000
PV = $2,000,000
AC = $3,000,000
BAC = $4,000,000
What can we legitimately say about this project if this is the only information we have?

A) 25% of the total work planned has been completed.
B) The project is ahead of schedule.
C) The project is under budget.
D) It is highly likely the project will be completed on time.
E) The CPI is .33.
F) A and E only

Answer 1

A and E only

Question 2

Given the following information about a project portfolio, what would be the most likely outcome associated with taking 10% of the resources from project A and giving them to project B? Assume the axis of the graph is the point where both CPI and SPI are equal to 1.

A) This could cause project A to fall more behind schedule than it is already.
B) Project B is likely to get more ahead of schedule than it is already.
C) Project B is likely to get more behind schedule than it already is.
D) Project B could use these resources to get back on schedule.
E) Project A will eliminate its schedule deficit.
F) Project A will regain some of its schedule deficit.

Answer 2

Project B could use these resources to get back on schedule.

Question 3

Given the following information about a project:
EV = $20,000
PV = $15,000
AC = $25,000
BAC = $40,000
Estimated Duration = 6 months
Assuming this is the only information available, which of these can we legitimately conclude about the project?

A) Time Estimate at Completion EAC_time) ) = 4.5 months.
B) CV = +$5,000
C) Cost Estimate at Completion EAC_cost) )= $32,000
D) CPI = 1.33
E) SV% = 1.2

Answer 3

Time Estimate at Completion EAC_time) ) = 4.5 months.

Question 4

Given the following information at week 12 of a 54-week project:
PV = 1,200 hours
EV = 1,400 hours
AC = 1,000 hours
Schedule variance percent SV%) and cost variance percent CV%), respectively, would be:

A) -14.29%, -33.33%
B) +14.29%, +33.33%
C) +16.67%, +28.57%
D) -16.67%, -28.57%
E) None of these, the answer is: ________________ show your work)

Question 5

Given the following information at week 19 of a 57-week project:
PV = 1,200 hours
EV = 1,400 hours
AC = 1,000 hours
Schedule variance percent SV%) and cost variance percent CV%), respectively, would be:

A) -14.29%, -33.33%
B) +14.29%, +33.33%
C) +16.67%, +28.57%
D) -16.67%, -28.57%
E) None of these, the answer is: ________________ show your work)

Question 6

Which of the following is/are sources of influence that can cause actual project performance to differ from planned performance?

A) Pareto's Law
B) Moore's Law
C) Murphy's Law
D) The Law of Large Numbers
E) Little's Law
F) All of the Above
G) None of the Above
H) A and C only

Question 7

What is the difference between planned value PV) and earned value EV)?

A) Planned value is the budget set out for the project and earned value is the expected return for the project
B) Planned value is the expected return for the project and earned value is the budget set out for the project
C) Planned value is the budget set out for the project and earned value is the value of the work completed up to a specified date in the project, based on the initial value specified for each deliverable or work package
D) Planned value is the value of the work completed up to a specified date in the project, based on the initial value specified for each deliverable or work package and earned value is the budget set out for the project
E) There is no difference - planned value and earned value are interchangeable terms

Question 8

Which of the following offers the best advice for an organization that wishes to implement a project monitoring system for large scale, multi-year projects?

A) Make sure it has the capacity to identify individuals who are at fault so blame can be assigned correctly.
B) Don't implement in a gradual manner - go for full-system implementation from the beginning.
C) Initially implement with a pilot project to test the system.
D) Request progress reports at least twice daily.
E) All of the above.

Question 9

A project task is scheduled to begin on Monday and is estimated to require five days of full-time work for the assigned team member, Chauncey. He has delayed beginning any work on the task until Thursday afternoon and believes he can finish by the end of the day Friday. Which of the following phenomena best describes what has influenced Chauncey's behavior?

A) Student Syndrome
B) Escalation of Commitment
C) Statistical Variation Among Dependent Events
D) Parkinson's Law
E) Murphy's Law

Question 10

A project team has worked for six months on a solar power project that will involve an entirely new technology. Early in the project, they chose a very specific approach from among several available, and they have continued pursuing this approach in spite of repeated failures. The project sponsor has warned them the project will be cancelled if they do not achieve success within one month. The team decides to stick with the current approach and work harder rather than experimenting with an alternative technology option. Which phenomenon best describes what has influenced the team's decision?

A) Murphy's Law
B) Parkinson's Law
C) Student Syndrome
D) Scope Creep
E) Escalation of Commitment
F) Pareto's Law

Question 11

Which of the following project monitoring tools would be most appropriate to use for a large, highly complex project such as the design and construction of a space station?

A) Spreadsheet with variation data
B) Gantt tracking chart
C) Checklist
D) Earned value
E) None of the above

Question 12

Given the following information about a project portfolio, what would be the most likely outcome associated with taking 10% of the resources from project A and giving them to project B? Assume the vertical and horizontal axes of the graph are the points where CPI and SPI are equal to 1.

A) This could cause project A to fall more behind schedule than it is already.
B) Project B is likely to get more ahead of schedule than it is already.
C) Project B is likely to get more behind schedule than it already is.
D) Project B could use these resources to help it get back on schedule.
E) Project A will fall more far behind schedule than it is already.
F) Project A will get back on schedule

Question 13

Consider the following project circumstances. Assume the information is accurate.
PV = $5,000,000
EV = $9,000,000
AC = $12,000,000
BAC = $15,000,000
Estimated Duration = 24 months
Elapsed Time To Date = 15 months
The project sponsor has called the PM into her office and asked the PM to resolve the most serious problem represented by the data shown above. Which of these options would be most appropriate and important for the PM to consider first in following the sponsor's request?

A) Crash critical path activities to compress the schedule.
B) Negotiate a later due date.
C) Add WBS items to match customer expectations
D) Work with suppliers to expedite deliveries and catch up on schedule delays
E) Check for scope creep
F) A and B only

Question 14

Which of the following is important to consider when choosing metrics to monitor project performance?

A) They should track metrics related to the project's specific goals
B) They should be monitored at the end of the project only
C) They should be measured every day
D) They should be defined by the key stakeholders only
E) None of the above

Question 15

What are possible values for earned value EV), planned value PV), and actual cost AC) if a project has an SPI of 0.5 and a CPI of 2.0?

A) EV = $30,000, PV = $60,000, AC = $15,000
B) EV = $60,000, PV = $30,000, AC = $15,000
C) EV = $15,000, PV = $30,000, AC = $60,000
D) EV = $60,000, PV = $15,000, AC = $30,000
E) None of the above

Question 16

Review the following schedule for a small project involving only two activities:

At the end of week two, progress information for Tasks A and B is as follows:

What can we conclude about the project at the end of week two?

A) The critical path is behind schedule
B) Time estimate at completion EAC _time) ) = 5.625 months
C) EAC _cost) = $8,000
D) CV% = -11.11%
E) A and D only
F) All of the above