Chapter 11: Measuring and Controlling Project Performance

Question 1

What is the purpose of the Monitoring and Controlling Process Group?

Answer 1

The Monitoring and Controlling Process Group tracks, reviews, and regulates project performance and progress to ensure that project objectives are met.

Question 2

What is the role of the Change Control Board (CCB)?

Answer 2

The CCB is a formally constituted group responsible for reviewing, evaluating, approving, delaying, or rejecting changes to the project, ensuring that only beneficial changes are implemented.

Question 2

What is the Perform Integrated Change Control process?

Answer 2

Perform Integrated Change Control is the process of reviewing all change requests, approving or rejecting them, and managing their implementation throughout the project.

Question 3

What is the Monitor and Control Project Work process?

Answer 3

Monitor and Control Project Work involves tracking, reviewing, and reporting project progress to meet the performance objectives defined in the project management plan.

Question 4

What are the key components of a change request?

Answer 4

A change request includes the proposed change, the reason for the change, the impact on the project scope, schedule, cost, and quality, and any recommendations.

Question 5

What is Earned Value Management (EVM)?

Answer 5

EVM is a project performance measurement technique that integrates scope, cost, and schedule to assess project progress and performance against the plan.

Question 6

What is Planned Value (PV) in EVM?

Answer 6

Planned Value (PV) is the authorized budget assigned to scheduled work that should have been completed by a specific time.

Question 7

What is Earned Value (EV) in EVM?

Answer 7

Earned Value (EV) is the value of work actually performed expressed in terms of the approved budget for that work.

Question 8

What is Actual Cost (AC) in EVM?

Answer 8

Actual Cost (AC) is the total cost incurred for the work performed on a project at a specific point in time.

Question 9

What is Schedule Variance (SV)?

Answer 9

Schedule Variance (SV) is the difference between the work planned and the work performed, calculated as SV = EV – PV.

Question 10

What is Cost Variance (CV)?

Answer 10

Cost Variance (CV) is the difference between the budgeted cost of work performed and the actual cost, calculated as CV = EV – AC.

Question 11

What is the Schedule Performance Index (SPI)?

Answer 11

The SPI is a measure of schedule efficiency, calculated as SPI = EV / PV. An SPI greater than 1 indicates ahead of schedule, while less than 1 indicates behind schedule.

Question 12

What is the Cost Performance Index (CPI)?

Answer 12

The CPI is a measure of cost efficiency, calculated as CPI = EV / AC. A CPI greater than 1 indicates under budget, while less than 1 indicates over budget.

Question 13

What is Estimate at Completion (EAC)?

Answer 13

EAC is the expected total cost of completing the project, based on current performance, and can be calculated using various formulas depending on the scenario.

Question 14

What is Variance at Completion (VAC)?

Answer 14

VAC is the difference between the original budget and the expected total project cost, calculated as VAC = BAC – EAC.

Question 15

What is the To-Complete Performance Index (TCPI)?

Answer 15

TCPI is the cost performance required to meet the budget or an alternative target, calculated as TCPI = (BAC – EV) / (BAC – AC) or TCPI = (BAC – EV) / (EAC – AC).

Question 16

What is the purpose of status reports in project monitoring and controlling?

Answer 16

Status reports provide regular updates on project performance, progress, and issues to stakeholders, ensuring transparency and alignment with project goals.

Question 17

What is a performance review in project management?

Answer 17

Performance reviews evaluate the project’s progress against the project management plan, using metrics like schedule and cost performance to determine if corrective actions are needed.

Question 18

What are corrective actions in project management?

Answer 18

Corrective actions are steps taken to bring future project performance back in line with the project management plan if variances are detected.

Question 19

What are preventive actions in project management?

Answer 19

Preventive actions are proactive measures taken to avoid potential issues or risks before they impact the project.

Question 20

What is a variance analysis?

Answer 20

Variance analysis is the process of comparing actual project performance with the planned performance to determine deviations and their causes.

Question 21

What is the purpose of trend analysis in project monitoring?

Answer 21

Trend analysis uses historical data to identify patterns or trends in project performance, helping to predict future outcomes and identify areas that need attention.

Question 22

What is a forecasting method in project management?

Answer 22

Forecasting methods predict future project performance based on current project data, including cost and schedule forecasts.

Question 23

What is the difference between a preventive action and a corrective action?

Answer 23

Preventive actions are proactive steps taken to prevent potential issues, while corrective actions are reactive steps taken to fix existing problems.

Question 24

What is integrated change control?

Answer 24

Integrated change control ensures that all changes to the project are considered in a coordinated way, assessing the impacts on scope, schedule, and cost before approval.

Question 25

What is earned schedule in project management?

Answer 25

Earned schedule is an extension of EVM that helps determine if a project is ahead or behind schedule, using time-based metrics instead of cost-based metrics.

Question 25

What is a configuration management plan?

Answer 25

A configuration management plan outlines the process for identifying and controlling changes to project documents, deliverables, and baselines to maintain consistency.

Question 26

What is a technical performance measurement (TPM)?

Answer 26

TPM measures project progress by comparing the actual technical accomplishments to the planned technical requirements.

Question 27

What is the purpose of monitoring risk responses?

Answer 27

Monitoring risk responses ensures that agreed-upon risk response strategies are implemented effectively and that new risks are identified and managed.

Question 28

What is a change log in project management?

Answer 28

A change log is a record of all change requests, their status, and any actions taken, used to track the history of changes throughout the project.