5.00 Review Quiz

Hollie is managing a bathroom renovation project that has a budget of $1,500 and is 40% complete. Hollie planned to spend $500 a month on the three-month project. Hollie is evaluating the status of the project at the end of the first month. What is the project's planned value?

• $500

• $600

• $1000

• $1500

Tucker is the construction project manager for a new school building. He measures the project's performance and progress by looking at the planned value, earned value, and actual cost. Which method is Tucker using to determine the project performance?

• forcasting

• performance review

• cost management plan

• earned value management

Hollie is managing a bathroom renovation project that has a budget of $1,500 and is 40% complete. She planned to spend $500 a month on the three-month project. Hollie is evaluating the status of the project at the end of the first month. What is the project's budget at completion?

• $500

• $600

• $1000

• $1500

The project manager would like to show the rate at which the project is progressing compared to what was planned. What indicator should she reference?

• Gantt Chart

• schedule variance

• variance report

• schedule perfomance index

Hollie is managing a bathroom renovation project. The project has a budget of $1,500 and is 40% complete. The project is a three-month project and Hollie planned to spend $500 a month on the project. Hollie is evaluating the status of the project at the end of the first month. What is the project's earned value?

• $500

• $600

• $1000

• $1500

The project manager would like to determine the aggregate estimated costs from the individual work packages to create a detailed breakdown of projected costs. In which process is the project manager most likely participating

• control costs

• estimate costs

• determine budget

• earned value management

A project manager has a number of experts approximating the expense of completing the project's activities. This process is known as:

• determining the budget

• contolling costs

• analogous estimating

• estimating costs

Emily is adding a garden to her yard. She estimates the work to build a raised garden will be $250 per day and will take six days to complete. What is the project's budget at completion?

• $500

• $600

• $1000

• $1500

Glenn is determining the project cost baseline by calculating the costs approved for each of the project's work packages. Glenn is determining the:

• actual cost

• cost variance

• earned value management

• planned value

Ed is adding a home theater room to his home. The project should take five days and cost $2,500 to complete. At the end of the second day, the project is 50% complete. What is the project's earned value at the end of the second day?

• $500

• $750

• $1000

• $1250