Deck 13: Project Evaluation and Control

Question 1

An excellent way to coordinate schedules with vendors and suppliers is through the use of:

A) Milestones.
B) S-curves that plot expenditures against time.
C) S-curves that plot planned expenditures against time.
D) A tracking Gantt chart.

Answer 1

A

Question 2

The project control cycle is continuous.

Answer 2

True

Question 3

A tracking Gantt chart:

A) Monitors costs and budget expenditures.
B) Identifies key points in the project's progress.
C) Identifies the stage of completion for each task.
D) Identifies the performance to budget for the overall project by a certain date.

Answer 3

C

Question 4

The first step in the control cycle is:

A) Setting a goal.
B) Measuring progress.
C) Comparing actual with planned performance.
D) Taking action.

Question 5

Gap analysis refers to any measurement process that first determines the goals and then the degree to which the actual performance lives up to those goals.

Question 6

Use the S-curve to choose the BEST statement about the project it describes. The horizontal axis is in weeks.

A) More time passes from weeks 5 to 10 than from weeks 20 to 25.
B) More time passes from $50,000 to $60,000 than from $5,000 to $10,000.
C) More money is spent from weeks 0 to 10 than from weeks 30 to 40.
D) The total amount spent on the project at the end of the 40th week is approximately $110,000.

Question 7

Use the S-curve where the solid line is actual cost and the dashed line is budgeted cost to choose the BEST statement.

A) The project is further ahead of budget from weeks 36 through 40 than from weeks 8 through 12.
B) The project never experiences negative variance.
C) The project is further behind budget from weeks 0 through 16 than from 24 through 40.
D) The project is in a constant state of positive variance.

Question 8

Milestones are generally considered to be:

A) Demotivators for the project team.
B) Key project review gates.
C) The end of the project for all team members except the project manager.
D) Points where two or more activities merge.

Question 9

A measurement process that determines the project goals and then the degree to which the actual performance lives up to these goals is:

A) A metric system.
B) Goal-performance linkage.
C) Five degrees of separation.
D) Gap analysis.

Question 10

The classic project S-curve is a plot of:

A) Labor hours versus money expended.
B) Money expended versus elapsed time.
C) Elapsed time versus labor hours.
D) Number of personnel versus days behind schedule.

Question 11

A project manager that uses milestones as a project control device is using a:

A) Proactive control system.
B) Predictive control system.
C) Feedback control system.
D) Reactive control system.

Question 12

Sketch the project control cycle and discuss the activities that take place in each step.

Question 13

Identify a different key success driver and inhibitor for the project stages of formation, build-up, main phase, and close-out.

Question 14

Measurement mechanisms should include a clear definition of:

A) The project baseline.
B) The reporting relationships among members of the project team.
C) What to measure.
D) Trigger points.

Question 15

Project goal setting includes setting a baseline plan, which is predicated on:

A) The progress measurement.
B) An accurate work breakdown structure.
C) The type of gap analysis the project team plans to use.
D) The budget and schedule limitations.

Question 16

Use the S-curve to choose the BEST statement about the project it describes. The horizontal axis is in weeks.

A) The total project costs in week 10 are less than budgeted.
B) The total project costs in week 10 exceed the budgeted cost.
C) The project cost more from weeks 25 through 30 than it did in weeks 10 through 15.
D) The total amount spent on the project at the end of the 20th week is approximately $30,000.

Question 17

Use the S-curve where the solid line is actual cost and the dashed line is budgeted cost to choose the BEST statement.

A) The project never experiences negative variance.
B) With regards to budget, the project starts badly but finishes well
C) With regards to budget, the project starts well but finishes badly.
D) The project is in a constant state of positive variance.

Question 18

If significant deviations from the project plan are detected, corrective action is taken and then:

A) The monitoring and control cycle begins anew.
B) Project goals are adjusted to reflect current reality.
C) The project stakeholders are informed of the budget or time difficulties.
D) The critical chain is reviewed for task dependency.

Question 19

Define human factors and discuss their impact on project success?

Question 20

What is a tracking Gantt chart and what are the benefits and drawbacks of its use?

Question 21

Earned value management is also known as:

A) The golden triangle method (GTM).
B) The achieved value method (AVM).
C) The program evaluation and review method (PERM).
D) Earned value analysis (EVA).

Question 22

Since a project may get ahead of or fall behind schedule, a calendar date cannot be a milestone.

Question 23

Which of these tools allows a project team to make future projections of project status based on its current state?

A) Tracking Gantt chart
B) Milestone chart
C) S-curve
D) Earned value management

Question 24

One strength of S-curve analysis is that it provides real-time tracking information.

Question 25

What are drawbacks to a pure S-curve analysis?

Question 26

The classic S-curve is a plot of cumulative cost versus elapsed time in weeks.

Question 27

Take the factors considered by earned value analysis and subtract those considered by tracking Gantt charts. The factor(s) you have remaining are:

A) Cost.
B) Cost and schedule.
C) Schedule and performance.
D) Performance.

Question 28

Planned value is:

A) The total budget for the project.
B) A cost estimate of the budgeted resources across the project's life cycle.
C) The real budgeted value of the work that has actually been performed to date.
D) The cumulative total costs incurred in accomplishing the various project work packages.

Question 29

What are any four benefits to using milestones as a form of project control? What advantage do they hold over pure S-curve analysis?

Question 30

Positive variance on an S-curve represents significant project progress.

Question 31

The earned value to date divided by the planned value of work scheduled to be performed is the:

A) Cost performance index.
B) Budgeted cost at completion index.
C) Budget efficiency index.
D) Schedule performance index.

Question 32

It is possible to measure:

A) Only positive deviations from the schedule baseline with a tracking Gantt chart.
B) Only negative deviations from the schedule baseline with a tracking Gantt chart.
C) Both positive and negative deviations from the schedule baseline with the tracking Gantt chart.
D) Both positive and negative deviations from the budget with the tracking Gantt chart.

Question 33

How does a tracking Gantt chart's appearance differ from a standard Gantt chart?

A) The tracking Gantt chart has a plot against time on the X1 axis and shows progress against budget on the X2 axis.
B) The tracking Gantt chart is composed of dollar signs that show the relative expense of the activity in comparison with other activities.
C) Each bar in the tracking Gantt chart shows who is responsible for completion of the activity in question.
D) Each bar in the tracking Gantt chart varies from 100% solid if the activity is completed to 100% alternative pattern if the activity has not begun.

Question 34

What are the problems with milestones as a project control mechanism?

Question 35

Use the S-curves for this project to create a table showing budgeted and actual expenses and variance in thousands of dollars and comment on the project's performance. The horizontal axis is in weeks.

Question 36

The earned value divided by the actual, cumulative cost of the work to date is the:

A) Cost performance index.
B) Budgeted cost at completion index.
C) Budget efficiency index.
D) Schedule performance index.

Question 37

Earned value management jointly considers the impact of:

A) Time, cost, and planned cost.
B) Project performance, planned performance, and cost.
C) Performance, cost, and time.
D) Planned cost, planned performance, and time.

Question 38

It is possible to measure both positive and negative deviations from the schedule baseline with the tracking Gantt chart.

Question 39

Earned value is:

A) The total budget for the project.
B) A cost estimate of the budgeted resources across the project's life cycle.
C) The real budgeted value of the work that has actually been performed to date.
D) The cumulative total costs incurred in accomplishing the various project work packages.

Question 40

Take the factors considered by earned value analysis and subtract those considered by project S-curves. The factor(s) you have remaining are:

A) Performance and cost.
B) Cost and schedule.
C) Time.
D) Performance.

Question 41

Use the earned value table to determine the schedule performance index given the indicated state of the project.

A) 0.89
B) 0.92
C) 1.09
D) 1.13

Question 42

Use the data to calculate the schedule performance index for the project for the end of week 10. All amounts are in thousands of dollars.

A) 1.24
B) 0.93
C) 0.81
D) 0.76

Question 43

Use the earned value table to determine the cost performance index given the indicated state of the project.

A) 0.89
B) 0.92
C) 1.09
D) 1.13

Question 44

Use the data to calculate the earned value for the project. All amounts are in thousands of dollars.

A) $38,500
B) $46,550
C) $56,750
D) $61,125

Question 45

Use the earned value table to determine the estimated cost to completion given the indicated state of the project.

A) $15,966
B) $16,235
C) $18,164
D) $17,441

Question 46

Use the data to calculate the earned value for the project. All amounts are in thousands of dollars.

A) $38,500
B) $43,250
C) $54,750
D) $100,000

Question 47

In earned value management, schedule variance is defined as:

A) The difference between the earned value and the actual cost.
B) The difference between the earned value and the planned value.
C) The difference between the actual cost and the planned value.
D) The difference between the cost and schedule performance indices multiplied by the budgeted cost at completion.

Question 48

At the end of week 10, this project has cost $9,000 and has an earned value as indicated in the table. Use the data to calculate the cost performance index for the project. All amounts are in thousands of dollars.

A) 2.5
B) 2.1
C) 1.8
D) 1.5

Question 49

The first step in earned value management is to:

A) Create the activity and resource usage schedules.
B) Develop a time-phased budget that shows expenditures across the project's life.
C) Total the actual costs of doing each task to arrive at the actual cost of work performed.
D) Clearly define each activity that will be performed including its resource needs and budget.

Question 50

At the end of week 20, this project has cost $79,000 and has an earned value as indicated in the table. Use the data to calculate the cost performance index for the project. All amounts are in thousands of dollars.

A) 1.11
B) 0.82
C) 0.94
D) 0.90

Question 51

Use the earned value table to determine the estimated time to completion given the indicated state of the project.

A) 35 days
B) 37 days
C) 39 weeks
D) 41 weeks

Question 52

Use the data to calculate the earned value for the project. All amounts are in thousands of dollars.

A) $65,500
B) $69,550
C) $71,100
D) $76,125

Question 53

A project manager can calculate the projected schedule of the project to completion by using the:

A) Cost performance index.
B) Schedule performance index.
C) Budgeted cost at completion index.
D) Budget efficiency index.

Question 54

The project baseline is established by combining data from the:

A) Work breakdown structure and the project budget.
B) Time-phased project budget and the PERT chart.
C) S-curve and the project budget.
D) Time-phased project budget and the work breakdown structure.

Question 55

Use the data to calculate the schedule performance index for the project for the end of week 20. All amounts are in thousands of dollars.

A) 1.14
B) 0.88
C) 0.94
D) 0.81

Question 56

Use the earned value table (all amounts indicated are dollars) to determine the earned value to the nearest hundred dollars given the indicated state of the project.

A) $16,900
B) $14,900
C) $14,400
D) $13,200

Question 57

Use the earned value table for Project Makeready to determine the earned value at week 49.

A) $4,950
B) $6,050
C) $4,155
D) $5,250

Question 58

The budget variance is calculated as:

A) Earned value minus planned value.
B) Planned value minus actual cost.
C) Earned value minus actual cost.
D) Cost minus planned value.

Question 59

A project manager can calculate the projected budget to completion by using the:

A) Budgeted cost at completion index.
B) Budget efficiency index.
C) Cost performance index.
D) Schedule performance index.

Question 60

In earned value management analysis, the cumulative amount of the budget becomes the:

A) Planned value.
B) Scheduled value.
C) Cost basis.
D) Cost driver.

Question 61

A project manager needs the work breakdown structure and a time-phased project budget to establish the project baseline.

Question 62

Earned value directly links all three primary project success metrics (cost, schedule, and customer satisfaction).

Question 63

What is earned value management and how can it be used to monitor project status?

Question 64

Five weeks in the semester you have completed 0% of your project management class under the 0/100 rule.

Question 65

Inspired by his trip to Greece, the gentleman farmer decided he needed a Mykonos-style windmill pumping a pond for his sheep and orchard. His earned value table for the project appears below. Develop a plot that shows the project baseline and earned value through June and comment on the project.

Question 66

Geoff coolly surveyed his earned value table at the conclusion of month 24. It was hard to believe that two short years ago, with his membership at Match.com about to expire, he had managed to craft an ad that was both urbane and manly enough as to catch the eye of the divine Miss Smylie. (The male model photo he substituted for his own certainly didn't hurt either.) Now he was almost done managing this critical project. Some might think him crass for taking such an approach, but he practiced what he preached at the small commuter school where he taught. Calculate all of the schedule and cost variances (costs in the table are in dollars) for this project and comment on Geoff's skills as a project manager.

Question 67

Very short work packages would be better managed by:

A) The percentage complete rule.
B) The 0/100 rule.
C) The caveat emptor rule.
D) The prior knowledge rule.

Question 68

The one factor that earned value management considers that an S-curve does not include is performance.

Question 69

If an activity's progress is defined as 0% until the activity is complete, the project manager is using:

A) The 50/50 rule.
B) The all or nothing rule.
C) The 0/100 rule.
D) The Do Not Pass Go rule.

Question 70

What is the cost variance of Project Makeready based on the data in the earned value table shown below?

A) -$1,896
B) -$1,096
C) -$800
D) -$406

Question 71

Your organization is in the midst of a project in uncharted waters; nothing you have attempted before comes close to many of the activities that are necessary to bring this project to completion. Your earned value management should probably be tracked closely with a percentage complete rule in increments of 5 to 10 percent.

Question 72

Use the earned value table for Project Makeready to determine the schedule variance.

A) -$1,896
B) -$1,096
C) -$800
D) -$206

Question 73

Once an activity is begun, it is assumed to be half done under the:

A) "Once begun, half done" rule.
B) Minimal effort rule.
C) Midway rule.
D) 50/50 rule.

Question 74

Use the earned value table for Project Makeready to calculate the estimated cost to completion.

A) $4,285
B) $5,250
C) $6,050
D) $7,645

Question 75

What are the inputs and the steps in applying earned value management as a project management tool?

Question 76

The earned value of a project is the cumulative total costs incurred in accomplishing the various work packages.

Question 77

Inspired by his trip to Greece, the gentleman farmer decided he needed a Mykonos-style windmill pumping a pond for his sheep and orchard. His earned value table for the project appears below. At the end of June, what was the estimated time to completion and the estimated cumulative cost to completion?

Question 78

Each activity contained a series of milestones that represented a previously agreed-upon amount of work. Once the low graffiti was erased, 35% of the activity had been completed and once the mid-level graffiti was erased, 70% of the activity had been completed. This project manager was clearly in the:

A) Percentage complete camp.
B) Micromanagement camp.
C) 35/70 camp.
D) 3K specifications camp.

Question 79

Use the earned value table for Project Makeready to calculate their schedule performance index.

A) 1.46
B) 0.68
C) 0.79
D) 1.26

Question 80

You are the new consultant to the project manager for a large chicken project. During your first meeting with the project manager he brings you up to speed on the project status by showing you these S-curves. You glance at the graph, compose your thoughts, and make what comments on this project?