Pre-test Cost & Quality Management

Which of the following inputs to the Plan Cost Management process provides preapproved financial resources?

• Organizational process assets

• Project management plan

• Project charter

• Enterprise environmental factors

A project manager is leading a research and development project. The value of the work completed on the project thus far is $450,000, and the cost baseline is $2,000,000. At this point in the project, you have spent 22% of the budget at completion (BAC). The value of work planned to be completed at this point is $475,000.

Based on this information, which of the following is not true?

• The SPI is 0.95

• The CPI is 1.02

• The SV is $25,000

• The CV is $10,000

A team member responsible for tracking the costs of a project increases the budget to accommodate the unexpected rise in expenditures over the last three weeks.

What should the project manager say to the project team members unexpected rise?

• Any increase to the authorized budget can only be approved via the Perform Integrated Change Control process

• If the increase in the budget is to cover an unexpected rise in expenditures, the project sponsor should be consulted

• Adjustments to the project budget need to occur closer to the point when expenditures go above budget

• Any increase in the authorized budget requires the development of an earned value analysis report (EVA) first

Resource costs continue to rise and are expected to increase further.

What can the project team do to control the costs?

• Hold the cost baseline steady

• Conduct an alternative analysis

• Request more funds from the customer

• Utilize management reserves

There have been quality problems with one of the deliverables on your project. A project team member has informed you they have discovered a workaround that will bring the product back to acceptable limits. The possibility of quality issues with this product was not identified as a risk. Both the workaround and the rework require an increase in costs.

What is the best course of action for the project manager when funding this unforeseen workaround and rework?

• Use contingency reserves and submit a change request to adjust the cost baseline

• Utilize contingency reserves without adjusting the cost baseline or submitting a change request

• Transfer funds from the management reserve and submit a change request to adjust the cost baseline

• Take funds from the management reserve without adjusting the cost baseline or submitting a change request

As the last sprint of the project is about to end, the company realizes that the product does not comply with the data privacy laws of the country where the product is to be deployed. Due to budget constraints, the company has to decide on whether to pay for the incompliance fines or do rework. Rework would involve significant changes to the performance baseline.

In this situation, which of the following is most likely to help?

• Stacey matrix

• Personas

• A phase gate

• Fast tracking

At this point in the project, the system analysis, design, and development should have been completed. However, according to the table shown below, system development is only 50% complete, and the actual cost of system analysis is higher than planned. You believe that the remaining project work will be influenced by these low-cost and schedule performance values.

Which of the formulas should be used to determine the estimate at completion (EAC)?

• EAC = AC + [(BAC - EV) / (CPI x SPI)]

• EAC = BAC / CPI

• EAC = AC + BAC - EV

• EAC = BAC

A recently completed project cost more and took longer than it should have. A root cause analysis was performed, and it was determined that the cost of quality exceeded what was optimal. Apparently, the quality management plan included extensive and very costly testing to ensure that there were zero escaped defects in the product.

What might have prevented this situation?

• Conducting a sensitivity analysis

• A more thorough stakeholder analysis

• Performing a cost-benefit analysis

• Including a SWOT analysis

During the production of a company’s first ever jet engine, a defect in one of the turbine blades is discovered. The defect is repaired according to an approved process, and then the turbine blade is installed in the engine. During testing, the jet engine is destroyed due to a structural failure of the previously repaired turbine blade.

What action may have prevented the engine failure?

• Reviewing the Lessons Learned repository

• Inspecting the turbine blade after the defect repair

• Submitting a change request

• Conducting product testing by running the engine

A project manager is looking for options to execute some of the Manage Quality activities such as failure analysis, design of experiments, and quality improvement.

Which of the following is the best approach for the project manager?

• Use the organization's quality assurance department

• Develop a comprehensive communications management plan

• Create the stakeholder engagement assessment matrix

• Involve customer representatives in some of the quality activities