Project Management Flashcard

Front

What should John do to mitigate the issue of a possible delay due to the requirement to add 100 cameras and 300 access control points to the project?

Back

Analyse the request and then communicate the impact of the change and the alternative, if any exist. If the change is inevitable, ensure that the stakeholders understand how the change affects the schedule, cost, scope and quality of the project.

Front

Identify the type of risk: "To outsource risky jobs to another company and sharing the risk together."

Back

Risk Sharing

Front

Identify the type of risk: “The acceptance of the burden of loss, or benefit of gain, from a particular risk.”

Back

Risk Retention

Front

Determine the duration for the pessimistic days given: PERT weight average = 20 days, optimistic duration = 15 days, most likely duration = 20 days.

Back

25 days

Front

Actual Cost (AC) = $100,000, Planned Value (PV) = $50,000, Earned Value (EV) = $120,000. Determine the Cost Variance (CV).

Back

$20,000

Front

Actual Cost (AC) = $100,000, Planned Value (PV) = $50,000, Earned Value (EV) = $120,000. Determine the Schedule Variance (SV).

Back

$70,000

Front

Given the following values, Actual Cost (AC) = $100,000 Planned Value (PV)=$50,000 Earned Value (EV)=$120,000, determine the Schedule Performance Index (SPI)?

Back

2.4

Front

Determine the Cost Performance Index (CPI) given: Actual Cost (AC) = $100,000, Planned Value (PV) = $50,000, Earned Value (EV) = $120,000.

Back

1.2

Front

Here are a total of 4 projects with their NPVs: Project 1 – NPV : $1,200,000 Project 2 – NPV : $2,000,000 Project 3 – NPV : $3,500,000 Project 4 – NPV : $4,500,000 Which project is to be selected based on the highest NPV?

Back

Project 4

Front

Which indicator is used for the Cost Performance Index if the cost exceeds the budget?

Back

Less than 1