Question: A price variance exists when: The is a difference between budgeted and actual purchase prices A sale price is used for material budgeting Material costs
- A price variance exists when:
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A usage variance exists when:
| The Project Manager is doing too much | ||
| Project team members are assigned to multiple projects | ||
| Less or more material was used during the project than udgeted | ||
| Too many usages are used in the project |
EAC is:
| Reported as time | ||
| Reported as dollars | ||
| Usually not determined until project is complete | ||
| is a ratio of SPI to CPI |
- If BAC = $25,000 and the project is 40% complete, then the earned value is:
| $10,000 | ||
| $15,000 | ||
| $25,000 | ||
| Cannot be determined |
- If BAC for a work package is $20,000 and BCWP is $8,000, then the work package is:
| 40% complete | ||
| 80% complete | ||
| 100% complete | ||
| Cannot determine with data provided |
- If CPI is 1.1 and SPI is .95, then the trend for the project is:
| Running over budget but ahead of schedule | ||
| Running over budget and behind schedule | ||
| Running under budget and behind schedule | ||
| Running under budget but ahead of schedule |
If SPI and CPI both equal 1.0, what does this mean?
| The project hasn't started | ||
| The project is completed | ||
| The project is on schedule and on budget | ||
| None of these things |
- If a project was scheduled for completion in 24 months and the CPI is running at 1.25, the new projected completion date is:
| 18 months | ||
| 19.2 months | ||
| 30 months | ||
| None of these |
- In EVM, earned value is represented by:
| BCWP | ||
| BCWS | ||
| ACWP | ||
| All of these |
Progress reports generally do not include:
| ACWP | ||
| BCWP | ||
| BCWS | ||
| SV |
The primary purpose of the 50-50 rule is to calculate:
| BCWS | ||
| BCWP | ||
| ACWP | ||
| BAC |
- This term means the tendency of scope to increase over the course of the project.
| Scope expansion | ||
| Scope creep | ||
| Gold plating | ||
| Change management |
- Trend analysis generally relies on:
| SPI | ||
| BAC | ||
| BCWP | ||
| None of these |
Using a EVMS to track your project, you can answer these questions:
| When is the project projected to be done? | ||
| What is the projected costs for this project? | ||
| Are there any trends to worry about? | ||
| All of the above |
- What is one of the challenges in determining BCWP?
| Budget variances | ||
| Hourly billing rates | ||
| Calculating overhead | ||
| Evaluation of in-process work |
Which approach to lessons learned helps identify most of the lessons learned on a project?
| Schedule lesson learned meetings regularly | ||
| Provide an anonymous method for submitting lessons | ||
| Hold lesson learned sessons without management | ||
| Remind team members to remain positive |
- Which of the following is an index value used by EVMS?
| ACWP | ||
| CPI | ||
| BAC | ||
| All of these are index values used by EVMS |
Which of the following is not a true statement regarding CV or ACWP?
| A negative CV or ACWP value indicates a cost overrun is occurring | ||
| A CV/ACWP is expressed in dollaer ($) | ||
| A CV/ACWP can be used to determine when a project will complete | ||
| All of these are true statements |
You are using EVM to track your project. Your EV calculation is higher than planned value and actual value. That means the project is ________ schedule and ______ budget.
| behind; under | ||
| ahead of; under | ||
| ahead of; over | ||
| behind; over |
Your team members have high billable rates and there is not much flexibility in the budget. Fortunately, the projected finish date has some flexibility. Which measure of progress is most important to track this situation?
| Actual work | ||
| Remaining duration | ||
| Actual start date | ||
| Actual duration |
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