EV Management

The first step in the project control process for measuring and evaluating project performance is to

• set a baseline plan

• determine the project objectives.

• determine the project deliverables

• analyze the project budget

• analyze the project budget

Answer explanation

The project control steps for measuring and evaluating project performance are first to set a baseline plan, then to measure progress and performance, next to compare plan against actual and finally taking action

A project manager just received the following information on her project: PV = 300, EV = 300, AC = 200. In terms of cost at completion(CPI)

• the project will currently finish under budget, assuming the project continues to perform in this way.

• the project will currently finish over budget, assuming the project continues to perform in this way.

• the project will currently finish on budget, assuming the project continues to perform in this way.

• the project will currently finish behind schedule, assuming the project continues to perform in this way.

• there is insufficient information to draw conclusions.

Answer explanation

Since the EV is greater than the AC, at this time, the project is expected to finish under budget

The second step in the project control process for measuring and evaluating project performance is to

• review the baseline plan with top management

• analyze inputs to control system

• compare plan against actual

• measure progress and performance

• review spending with team members.

Answer explanation

The project control steps for measuring and evaluating project performance are first to set a baseline plan, then to measure progress and performance, next to compare plan against actual and finally taking action

A team leader tells the project manager that as of right now, $1.20 worth of work has been accomplished for each $1 worth of scheduled work. The team leader got this information from viewing the

• SV

• TCPI

• CPI

• SPI

• PCIB

Answer explanation

•An SPI of 1.2 would tell the team leader that $1.20 worth of work has been accomplished for each $1 worth of scheduled work.

The earned value of a project is the

• project cost to date adjusted for project scope changes.

• total project cost to date.

• cost incurred minus the planned cost.

• estimated cost that has been earned by work that is completed

• the planned time-phased baseline of the value of work scheduled

Answer explanation

•Earned value for a task is simply the percent complete multiplied by the original budget. Stated differently, EV is the percent of the original budget that has been earned by actual work completed.