15B - Control the Project Schedule

Question 1

A methodology that measures project progress by comparing actual schedule and cost performance against planned performance as laid out in the schedule and cost baselines.

Answer 1

EVM

Question 2

What does EVM stand for?

Answer 2

Earned Value Management

Question 3

The budgeted portion of the approved cost estimate to be spent during a particular time period to complete the scheduled project work; previously known as the budgeted cost of work scheduled (BCWS).

Answer 3

PV

Question 4

What does PV stand for?

Answer 4

Planned Value

Question 5

A composite measurement of both cost and timer performance in relation to scheduled or planned cost and time performance. __ is calculated by multiplying the percentage of work completed by the budgeted cost for the activity as laid out in the cost baseline.

Answer 5

EV

Question 6

What does EV stand for?

Answer 6

Earned Value

Question 7

The total amount of costs incurred while accomplishing work performed, either during completion of a scheduled activity or during the completion of a WBS component.

Answer 7

AC

Question 8

What does AC stand for?

Answer 8

Actual Cost

Question 9

The measured difference between the actual completion of an activity and the planned or scheduled completion of an activity. The formula for calculating __ is EV - PV = __.

Answer 9

SV

Question 10

What does SV stand for?

Answer 10

Schedule Variance

Question 11

The ratio of work performed to work scheduled. The formula for ___ is ___ = EV / PV.

Answer 11

SPI

Question 12

What does SPI stand for?

Answer 12

Schedule Performance Index

Question 13

Used to illustrate trends in schedule performance.

Answer 13

Schedule control chart