Chapter 15 Flashcards
If the schedule variance is positive and the cost variance is negative, the project’s status is: Over budget and behind schedule Over budget and ahead of schedule Under budget and behind schedule Under budget and ahead of schedule
Under budget and ahead of schedule
The EVMS term that represents the value of work actually accomplished is: PV EV AC BAC
EV
Which of the following terms is used to determine the trend on cost? CV EAC CPI AC
CPI
If PV = $100, EV = $200 and AC = $300, the status is: Over budget and behind schedule Over budget and ahead of schedule Under budget and behind schedule Under budget and ahead of schedule
Over budget and ahead of schedule
If SPI = 1.05 and CPI = 0.96, the project’s trend is: Over budget and behind schedule Over budget and ahead of schedule Under budget and behind schedule Under budget and ahead of schedule
Over budget and ahead of schedule
Consider the following: BAC = $1000, VAC = -$200 , and AC = $400. Therefore EV = \_\_\_\_\_. $ 480 $ 600 $ 800 Cannot be determined
Cannot be determined
Consider the following: BAC = $1000, VAC = -$200, and AC = $400. Therefore, SV = \_\_\_\_\_. $ 480 $ 600 $ 800 Cannot be determined
Cannot be determined
The difference between the cost baseline and the contracted cost is the: Cost at completion Management reserve Profit Cost of scope changes
Management reserve
The best source of revenue for a customer-requested scope change is: A customer-funded contract amendment Management reserve Undistributed budget Profits
A customer-funded contract amendment
The form that is used to establish charge numbers is the: Responsibility Assignment matrix Work authorization form Work package Cost account change notice
Work authorization form
The weakness in all of earned value measurement is the way we calculate: PV EV AC EAC
EV
The best method to price out a work package is to use the:
Average departmental labor rate
Average pay grade labor rate
Actual salary of the workers assuming they are
Statistical data from the Payroll Department
Actual salary of the workers assuming they are
Which of the following escalation factors are usually paid for with funds from the management reserve? Salaries Overhead rates Material costs All of the above
All of the above
A common cause for a favorable SV but unfavorable CV might be: Using lower salaried workers Using overtime Using less expensive raw materials All of the above
Using overtime
A common cause for a favorable CV but unfavorable SV might be: Too many workers on the project Too few workers on the project Crashing the project Use of overtime
Too few workers on the project
An S-Curve plots: Cumulative cost as a function of time Schedule variance as a function of time Work package schedules as a function of time None of the above
Cumulative cost as a function of time
If PV > AC, then we are spending less than the plan called for but we do not know if that’s good or bad without having a value for EV.
True
False
True
Earned value measurement systems must be capable of:
Measuring resources consumed
Measuring status and accomplishment
Provide a basis for diagnosis and replanning
All of the above
All of the above
The person or group with greatest ability to influence cost at project initiation is: The customer / owner The project manager The project team The users
The customer / owner
At project initiation:
Few cost reduction opportunities exist and the cost of each change is large
Few cost reduction opportunities exist and the cost of each change is low
Many cost reduction opportunities exist and the cost of each change is high
Many cost reduction opportunities exist and the of each change is low
Many cost reduction opportunities exist and the of each change is low
The establishment of all of the charge numbers for a project is called the: Work package codes Code of accounts Summation of charge numbers Cost accounts
Code of accounts
Work that does not lend itself to subdivision into discrete scheduled increments of work, such as project support, is called: Measurable effort Level of effort Discrete estimates Work package effort
Level of effort
Variance envelopes are usually established because:
All cost variances must be accounted for and explained
Not all cost variances must be explained even though they exist
All schedule variances must be explained
All cost overruns require sponsor authorization
Not all cost variances must be explained even though they exist
The 50-50 rule is a technique used to determine: EV EAC CPI VAC
EV
In which type of project report would we most likely find EAC and ETC? Performance Status Forecast Exception
Forecast
