Question 1

The best method for assigning costs to the baseline under the 50 / 50 rule is to establish frequent checkpoints over the duration of the work package and assign completion percentages in dollar terms.

Accepted Answer

A) True 
 B)False

Question 2

A common project practice is to ignore straight labor hours when calculating earned value.

Accepted Answer

A) True 
 B)False

Question 3

The earned value of a project is the

Accepted Answer

A)  project cost to date adjusted for project scope changes. 
B)  total project cost to date. 
C)  cost incurred minus the planned cost. 
D)  percent of the original budget that has been earned by work that is completed. 
E)  the planned time-phased baseline of the value of work scheduled.

Question 4

Schedule variance (SV) is in dollars and does not directly represent time. Why is it still useful?

Accepted Answer

The answer of Schedule variance (SV) is in dollars and...

Question 5

When someone familiar with each task estimates what percent of the task has been completed or how much of the task remains, they are creating a method for assigning costs to the baseline called the ____________ rule.

Accepted Answer

A)  estimated completion 
B)  estimated cost 
C)  percent complete 
D)  estimation 
E)  estimation method

Question 6

The second step in the project control process for measuring and evaluating project performance is to

Accepted Answer

A)  review the baseline plan with top management. 
B)  analyze inputs to control system. 
C)  compare plan against actual. 
D)  measure progress and performance. 
E)  review spending with team members.

Question 7

Which performance index is the most potentially misleading?

Accepted Answer

A)  CPI 
B)  EV 
C)  CV 
D)  SV 
E)  EAC

Question 8

In reviewing the budget report of a project, you notice that spending on the project is running about 10 percent over plan. Is the project in trouble? Support your answer.

Accepted Answer

The answer of In reviewing the budget report of a...

Question 9

A CPI or SPI value less than one indicates that the project is currently

Accepted Answer

A)  under cost or behind schedule. 
B)  over cost or ahead of schedule. 
C)  under cost or ahead of schedule. 
D)  over cost or behind schedule. 
E)  on cost or on schedule.

Question 10

Most changes will not result in serious scope changes and should be absorbed as positive or negative variances.

Accepted Answer

A) True 
 B)False

Question 11

What is the difference between a baseline Gantt chart and a tracking Gantt chart?

Accepted Answer

The answer of What is the difference between a baseline...

Question 12

Which of the following methods will measure the scheduling efficiency of the work accomplished to date?

Accepted Answer

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

Question 13

When reviewing the cost variance on a project, you compare Earned Value with

Accepted Answer

A)  actual cost. 
B)  realized risks. 
C)  planned value. 
D)  Both actual cost and planned value. 
E)  All of these alternatives are correct.

Question 14

What is the percent complete rule and what role does it play when developing an earned value cost / schedule system?

Accepted Answer

The answer of What is the percent complete rule and...

Question 15

Baseline costs typically include labor, equipment, materials and direct overhead cost.

Accepted Answer

A) True 
 B)False

Question 16

Earned value is defined as the budgeted cost of the actual work performed.

Accepted Answer

A) True 
 B)False

Question 17

Two project complete indexes are used, depending on your judgment of which one is most representative of your project. Identify both indexes and explain when it is most appropriate to use each.

Accepted Answer

The answer of Two project complete indexes are used, depending...

Question 18

The schedule variance for a project is calculated by:

Accepted Answer

A)  EV − AC 
B)  AC − SV 
C)  PV − EV 
D)  CV − EV 
E)  EV − PV

Question 19

Of the following costs, which are NOT included in baseline?

Accepted Answer

A)  Suppliers 
B)  Equipment 
C)  Labor 
D)  Budget reserves 
E)  Contractors

Question 20

A positive VAC indicates that the project will be completed under budget.

Accepted Answer

A) True 
 B)False

Exam 13: Progress and Performance Measurement and Evaluation

The best method for assigning costs to the baseline under the 50 / 50 rule is to establish frequent checkpoints over the duration of the work package and assign completion percentages in dollar terms.

A common project practice is to ignore straight labor hours when calculating earned value.

The earned value of a project is the

Schedule variance (SV) is in dollars and does not directly represent time. Why is it still useful?

When someone familiar with each task estimates what percent of the task has been completed or how much of the task remains, they are creating a method for assigning costs to the baseline called the ____________ rule.

The second step in the project control process for measuring and evaluating project performance is to

Which performance index is the most potentially misleading?

In reviewing the budget report of a project, you notice that spending on the project is running about 10 percent over plan. Is the project in trouble? Support your answer.

A CPI or SPI value less than one indicates that the project is currently

Most changes will not result in serious scope changes and should be absorbed as positive or negative variances.

What is the difference between a baseline Gantt chart and a tracking Gantt chart?

Which of the following methods will measure the scheduling efficiency of the work accomplished to date?

When reviewing the cost variance on a project, you compare Earned Value with

What is the percent complete rule and what role does it play when developing an earned value cost / schedule system?

Baseline costs typically include labor, equipment, materials and direct overhead cost.

Earned value is defined as the budgeted cost of the actual work performed.

Two project complete indexes are used, depending on your judgment of which one is most representative of your project. Identify both indexes and explain when it is most appropriate to use each.

The schedule variance for a project is calculated by:

Of the following costs, which are NOT included in baseline?

A positive VAC indicates that the project will be completed under budget.