monitoring and control Flashcards

1
Q

what is SPI

A

Schedule Performance Index

SPI = BCWP / BCWS

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2
Q

What is CPI

A

Cost performance Index

CPI = BCWP / ACWP

CPI > 1 SAVING MONEY

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3
Q

Estimate likely duration with SPI

A

likely duration / SPI

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4
Q

Estimate likely cost from CPI

Upper range

A

BAC / CPI

Assumes cost performance will continue as observed

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5
Q

Estimate likely cost from CPI

Lower range

A

ACWP + BAC - BCWP

assumes rest of work will cost as was planned to

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6
Q

function should be monitored throughout a project, what does it mean and how is it different to quality

A

Function is a broader term than ‘quality’ and essentially covers those measures which tell us whether or not the project will still do what it is expected to do

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7
Q

what are the other aspects that should be controlled

A

cost, schedule resources

and function

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8
Q

in order to correctly evaluate these other aspects what measurement of the project is necessary?

A

progress. Earned value analysis is VERY dependent on progress, if progres not measured accurately the EVA analysis is distorted

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9
Q

changes in material quality can influence all 3 areas of monitoring. briefly explain how this can happen

A

cost: if material quality is sub standard. re work is likely thus costing more money in removing old work and procuring correct materials

Schedule: same as above, re work requires additional time

function: sub-standard materials will affect the ability of project ti do what it is expected to do

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10
Q

what is fundamental of milestone monitoring, why is this so important, why can this cause problems in implementing milestone monitoring

A

requires the work to each milestone to be fully complete. milestone itself provides ‘progress’ of the evaluation. therefore important monitoring exercise only considers fully complete milestones.

also milestones must be clearly defined

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