What is meant by the term "Eamed Value (EV)? The value of the amount of work performed thus far on the project The value of the amount of work remaining to be completed in the project The amount of costs of work performed thus far on the project The amount of time spent thus far on the project Al which phase of the project would quality assurance techniques be implemented? Initiating Planning phase Within any phase Deliverable verification phase Senior management has determined that half-way through a project many delays encountered require the project be substantially reduced in order to save time and money. What is the most appropriate role of the Project Sponsor in this decision? Assume overall responsibility of the project from the Project Manager Meet with the Project Manager to provide support and resources during this change Replace the Project Manager with another Project Manager well experienced in successfully dealing with significant project changes Meet with the Project Manager to express their concems regarding project performance The Project Manager needs a key supplier to expedite delivery of a key material. The PM offers the supplier a bonus ir the materials can be delivered to meet this revised deadline. This is an example of Direction Control Influence Negotiation A risk event has just occurred on a complex project. The customer has not yet been informed What should the Project Manager do FIRST? Check if a risk trigger event was implemented Notify the customer and assure them the risk will be successfully resolved Transfer resources to the risk even to lossen its impact Check the risk plan if a contingency plan was created for the risk Why would a firm conduct Make or Buy analysis as part of project procurement planning? Project Manager must ensure that Scope Creep does not impact resource availability Firm possesses technological information secrets or proprietary technology Firm has internal resources that are available Firm does not possess the goods or services at this time When undertaking Risk Management Review for an upcoming new project, which action should the Project Manager do after conducting qualitative risk analysis? Conduct risk identification Identify risk trigger points Conduct risk statistical analysis Plan risk responses