Chapter 13 Project Evaluation and Control – Flashcards
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A) Setting a goal.
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1) The first step in the control cycle is: A) Setting a goal. B) Measuring progress. C) Comparing actual with planned performance. D) Taking action.
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B) An accurate work breakdown structure.
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2) Project goal setting includes setting a baseline plan, which is predicated on: A) The progress measurement. B) An accurate work breakdown structure. C) The type of gap analysis the project team plans to use. D) The budget and schedule limitations.
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C) What to measure.
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3) Measurement mechanisms should include a clear definition of: A) The project baseline. B) The reporting relationships among members of the project team. C) What to measure. D) Trigger points.
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D) Gap analysis.
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4) A measurement process that determines the project goals and then the degree to which the actual performance lives up to these goals is: A) A metric system. B) Goal-performance linkage. C) Five degrees of separation. D) Gap analysis.
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A) The monitoring and control cycle begins anew.
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5) If significant deviations from the project plan are detected, corrective action is taken and then: A) The monitoring and control cycle begins anew. B) Project goals are adjusted to reflect current reality. C) The project stakeholders are informed of the budget or time difficulties. D) The critical chain is reviewed for task dependency.
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A) Labor hours versus money expended.
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6) The classic project S-curve is a plot of: A) Labor hours versus money expended. B) Money expended versus elapsed time. C) Elapsed time versus labor hours. D) Number of personnel versus days behind schedule.
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D) Reactive control system.
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11) A project manager that uses milestones as a project control device is using a: A) Proactive control system. B) Predictive control system. C) Feedback control system. D) Reactive control system.
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A) Milestones.
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12) An excellent way to coordinate schedules with vendors and suppliers is through the use of: A) Milestones. B) S-curves that plot expenditures against time. C) S-curves that plot planned expenditures against time. D) A tracking Gantt chart.
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B) Key project review gates.
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13) Milestones are generally considered to be: A) Demotivators for the project team. B) Key project review gates. C) The end of the project for all team members except the project manager. D) Points where two or more activities merge.
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C) Identifies the stage of completion for each task.
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14) A tracking Gantt chart: A) Monitors costs and budget expenditures. B) Identifies key points in the project's progress. C) Identifies the stage of completion for each task. D) Identifies the performance to budget for the overall project by a certain date.
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D) Each bar in the tracking Gantt chart varies from 100% solid if the activity is completed to 100% alternative pattern if the activity has not begun.
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15) How does a tracking Gantt chart's appearance differ from a standard Gantt chart? A) The tracking Gantt chart has a plot against time on the X1 axis and shows progress against budget on the X2 axis. B) The tracking Gantt chart is composed of dollar signs that show the relative expense of the activity in comparison with other activities. C) Each bar in the tracking Gantt chart shows who is responsible for completion of the activity in question. D) Each bar in the tracking Gantt chart varies from 100% solid if the activity is completed to 100% alternative pattern if the activity has not begun.
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A) Only positive deviations from the schedule baseline with a tracking Gantt chart.
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16) It is possible to measure: A) Only positive deviations from the schedule baseline with a tracking Gantt chart. B) Only negative deviations from the schedule baseline with a tracking Gantt chart. C) Both positive and negative deviations from the schedule baseline with the tracking Gantt chart. D) Both positive and negative deviations from the budget with the tracking Gantt chart.
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A) The golden triangle method (GTM).
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17) Earned value management is also known as: A) The golden triangle method (GTM). B) The achieved value method (AVM). C) The program evaluation and review method (PERM). D) Earned value analysis (EVA).
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C) Performance, cost, and time.
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18) Earned value management jointly considers the impact of: A) Time, cost, and planned cost. B) Project performance, planned performance, and cost. C) Performance, cost, and time. D) Planned cost, planned performance, and time.
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C) S-curve
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19) Which of these tools allows a project team to make future projections of project status based on its current state? A) Tracking Gantt chart B) Milestone chart C) S-curve D) Earned value management
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D) Performance.
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20) Take the factors considered by earned value analysis and subtract those considered by project S-curves. The factor(s) you have remaining are: A) Performance and cost. B) Cost and schedule. C) Time. D) Performance.
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A) Cost.
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21) Take the factors considered by earned value analysis and subtract those considered by tracking Gantt charts. The factor(s) you have remaining are: A) Cost. B) Cost and schedule. C) Schedule and performance. D) Performance.
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B) A cost estimate of the budgeted resources across the project's life cycle.
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22) Planned value is: A) The total budget for the project. B) A cost estimate of the budgeted resources across the project's life cycle. C) The real budgeted value of the work that has actually been performed to date. D) The cumulative total costs incurred in accomplishing the various project work packages.
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C) The real budgeted value of the work that has actually been performed to date.
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23) Earned value is: A) The total budget for the project. B) A cost estimate of the budgeted resources across the project's life cycle. C) The real budgeted value of the work that has actually been performed to date. D) The cumulative total costs incurred in accomplishing the various project work packages.
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D) Schedule performance index.
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24) The earned value to date divided by the planned value of work scheduled to be performed is the: A) Cost performance index. B) Budgeted cost at completion index. C) Budget efficiency index. D) Schedule performance index.
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A) Cost performance index.
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25) The earned value divided by the actual, cumulative cost of the work to date is the: A) Cost performance index. B) Budgeted cost at completion index. C) Budget efficiency index. D) Schedule performance index.
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B) Schedule performance index.
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26) A project manager can calculate the projected schedule of the project to completion by using the: A) Cost performance index. B) Schedule performance index. C) Budgeted cost at completion index. D) Budget efficiency index.
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C) Cost performance index.
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27) A project manager can calculate the projected budget to completion by using the: A) Budgeted cost at completion index. B) Budget efficiency index. C) Cost performance index. D) Schedule performance index.
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D) Time-phased project budget and the work breakdown structure.
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28) The project baseline is established by combining data from the: A) Work breakdown structure and the project budget. B) Time-phased project budget and the PERT chart. C) S-curve and the project budget. D) Time-phased project budget and the work breakdown structure.
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D) Clearly define each activity that will be performed including its resource needs and budget.
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36) The first step in earned value management is to: A) Create the activity and resource usage schedules. B) Develop a time-phased budget that shows expenditures across the project's life. C) Total the actual costs of doing each task to arrive at the actual cost of work performed. D) Clearly define each activity that will be performed including its resource needs and budget.
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A) Planned value.
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37) In earned value management analysis, the cumulative amount of the budget becomes the: A) Planned value. B) Scheduled value. C) Cost basis. D) Cost driver.
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B) The difference between the earned value and the planned value.
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38) In earned value management, schedule variance is defined as: A) The difference between the earned value and the actual cost. B) The difference between the earned value and the planned value. C) The difference between the actual cost and the planned value. D) The difference between the cost and schedule performance indices multiplied by the budgeted cost at completion.
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C) Earned value minus actual cost.
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39) The budget variance is calculated as: A) Earned value minus planned value. B) Planned value minus actual cost. C) Earned value minus actual cost. D) Cost minus planned value.
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C) The 0/100 rule.
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49) If an activity's progress is defined as 0% until the activity is complete, the project manager is using: A) The 50/50 rule. B) The all or nothing rule. C) The 0/100 rule. D) The Do Not Pass Go rule.
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D) 50/50 rule.
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50) Once an activity is begun, it is assumed to be half done under the: A) "Once begun, half done" rule. B) Minimal effort rule. C) Midway rule. D) 50/50 rule.
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A) Percentage complete camp.
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51) Each activity contained a series of milestones that represented a previously agreed-upon amount of work. Once the low graffiti was erased, 35% of the activity had been completed and once the mid-level graffiti was erased, 70% of the activity had been completed. This project manager was clearly in the: A) Percentage complete camp. B) Micromanagement camp. C) 35/70 camp. D) 3K specifications camp.
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B) The 0/100 rule.
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52) Very short work packages would be better managed by: A) The percentage complete rule. B) The 0/100 rule. C) The caveat emptor rule. D) The prior knowledge rule.
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B) Aggregation of all earned value measures across the firm's entire project portfolio.
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53) Earned value management at the portfolio level requires: A) A single project manager with a single metric system. B) Aggregation of all earned value measures across the firm's entire project portfolio. C) Only positive variances for both budget and schedule. D) Only negative variances for both budget and schedule.
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C) The need to recognize the human factor.
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54) A recurring problem with establishing accurate or meaningful EVM results has to do with: A) The 0/100 rule. B) Over-reliance on the S-curve. C) The need to recognize the human factor. D) The need to satisfy stakeholders within budget and time parameters.
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A) Technical limitations.
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55) In the formation stage, failed projects are more likely to have: A) Technical limitations. B) Personal ambition. C) Clear objectives. D) Team motivation.
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B) Top management support exists.
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56) In the build-up stage of a successful project, it is important that: A) An adequate budget exists. B) Top management support exists. C) The project personnel are in a state of flux. D) There is a clear sense of earned value management.
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C) Close-out phase.
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57) An unmotivated team is a key success inhibitor in every project stage with the EXCEPTION of the: A) Main phase. B) Formation phase. C) Close-out phase. D) Build-up phase.
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D) Formation phase.
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58) Funding problems are a key success inhibitor in the: A) Build-up phase. B) Close-out phase. C) Main phase. D) Formation phase.
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A) Project mission.
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59) The critical success factor that relates to the underlying purpose for the project is the: A) Project mission. B) Technical acceptance. C) Technical tasks. D) Client consultation.
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B) Monitoring and feedback.
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60) The project control process is captured in the critical success factor of: A) Communication. B) Monitoring and feedback. C) Troubleshooting. D) Client consultation.
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B) Technical task ability.
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61) Knowing the correct steps to take once problems develop is a function of a team's: A) Communication ability. B) Technical task ability. C) Troubleshooting ability. D) Client acceptance ability.
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C) Self-actualization
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62) The Project Implementation Profile includes this critical success factor. A) Task interdependence B) Continuous quality improvement C) Self-actualization D) Technical tasks
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D) Tailored to the needs and culture for which an organization intends it.
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63) Project control should be: A) Maintained by the project organization using the most complete measurement system, earned value management. B) Maintained by the project organization using the simplest measurement, an S-curve. C) Maintained by both the project organization and the customer using the most complete measurement system, earned value management. D) Tailored to the needs and culture for which an organization intends it.
