How far off the budget a project

Assignment Help Management Theories

Reference no: EM131465224

1. Which of the following would not be contained in a typical project progress report?

A. Progress since last report

B. Problems and issues since last report

C. Current status of project

D. All of these are typical sections.

2. The first step in the project control process of the measurement and evaluation of project performance is to:

A. set a baseline plan

B. determine the project objectives

C. determine the project deliverables

D. analyse the project budget

3. The third step in the project control process of the measurement and evaluation of project performance is to:

A. review the baseline plan with top management

B. analyse inputs to the control system

C. compare the plan against actual performance

D. measure both progress and performance

4. The last step in the project control process of the measurement and evaluation of project performance is to:

A. take appropriate action

B. prepare a report to top management

C. follow up on corrective action

D. measure progress and performance

5. A typical tool used to communicate project schedule status is a:

A. project network diagram

B. Tracking Gantt chart

C. PERT chart

D. All the given answers are correct.

6. A tool used to monitor past project schedule performance, current performance, and to estimate future schedule trends is a simple line chart known as a:

A. project schedule control chart

B. Gantt chart

C. PERT chart

D. network diagram

7. Earned Value System (EVS), used to monitor project progress, includes comparison of:

A. actual costs versus budget, and schedule progress versus plan

B. quality progress versus plan

C. work package status against plan

D. project budget tracking

8. The earned value of a project is the:

A. project cost to date adjusted for project scope changes

B. total project cost to date

C. cost incurred minus the planned cost

D. percentage of the original budget that has been earned by actual work

9. The schedule variance for a project is calculated by:

A. EV-AC

B. AC-SV

C. PV-EV

D. EV-PV

10. Of the following costs, which are not included in baseline?

A. Materials

B. Equipment

C. Labour

D. All of these are usually included.

11. Which of the following methods of variance analysis is the best indicator of how far off the budget a project will be at completion?

A. BAC

B. VAC

C. EAC

D. ETC

12. Which of the following methods will measure the cost efficiency of the work accomplished to date?

A. SV/CV

B. EV/PV

C. EV/AC

D. AC/SV

13. The Per cent Complete Index that looks at per cent complete in terms of budgeted amounts is calculated by which of the following?

A. EV/BAC

B. (EV-PV)/BAC

C. (EV-AC)/BAC

D. (EV-PV)/EAC

14. The Per cent Complete Index that looks at per cent complete in terms of actual amounts is calculated by which of the following?

A. EV/BAC

B. (EV-PV)/BAC

C. AC/EAC

D. (EV-AC)/BAC

15. Which of the following will calculate the estimated cost to complete the project?

A. (VAC-EV)/(PV/AC)

B. (BAC-EV)/(EV/AC)

C. (PV/AC)/(VAC-EV)

D. (EV/AC)/(BAC-EV)

16. Control is one of the most neglected areas of project management.

True False

17. Measuring performance against budget is simply a case of comparing actual versus budget.

True False

18. Earned value is defined as the budgeted cost of the work performed.

True False

19. The baseline is derived from merging information from the work packages with the project network.

True False

Reference no: EM131465224

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