Your project is in the planning stage. You first want to make the cost estimates for the planned project activities, and then you want to aggregate those
... [Show More] costs. Which process will you perform first?
Develop HR Plan
Which of the following processes will you perform first?
Develop schedule
Your supervisor has asked you to put some contingency reserve into your project plans. Which of the following is not true about contingency reserve?
These are the funds and not the time.
You are in the process of developing the cost baseline for your project. What is the name of this process?
Determine budget
Assume that you are the project manager for the construction of a 15 mile road. Further assume that the work is uniformly distributed over 12 weeks. The total approved budget for this project is $600,000. At the end of the first three weeks of work, $160,000 has been spent, and five miles of road have been completed. What is the earned value of the project at the end of the first three weeks?
$200,000
EV = BAC x (work completed/total work required)
EV = 600,000 x (5 mi/15 mi) = 200,000
Assume that you are the project manager for the construction of a 15 mile road. Further assume that the work is uniformly distributed over 12 weeks. The total approved budget for this project is $600,000. At the end of the first three weeks of work, $160,000 has been spent, and five miles of road have been completed. What is the planned project value at this point in time?
$150,000
PV = BAC x (time passed/total schedule time)
PV = 600,000 x (3weeks/12 weeks) = 150,000
Assume that you are the project manager for the construction of a 15 mile road. Further assume that the work is uniformly distributed over 12 weeks. The total approved budget for this project is $600,000. At the end of the first three weeks of work, $160,000 has been spent, and five miles of road have been completed. What is the cost variance?
$40,000
CV = EV - AC
CV = 200,000 - 160,000 = 40,000
Assume that you are the project manager for the construction of a 15 mile road. Further assume that the work is uniformly distributed over 12 weeks. The total approved budget for this project is $600,000. At the end of the first three weeks of work, $160,000 has been spent, and five miles of road have been completed. What is the schedule variance?
$50,000
SV = EV - PV
SV = 200,000 - 150,000 = 50,000
A CPI value of 1.25 and an SPI value of 1.33 for a project mean which of the following?
The project is making faster progress and is costing less than planned.
CPI > 1 means cost performance is better than planned
SPI > 1 means schedule performance is better than planned
The funds available for your project have been cut due to the sever effect of the economic downturn. Which of the following aspects of your project may be influenced by this cut?
Scope, schedule, quality, resources, risk, and possibly some other aspects
An influential stakeholder has submitted a request for completing the project earlier than planned. What are the two parameters that are most likely to be affected by this time change?
Cost and scope
You are managing a project in biotechnology code named Mitochondria Eve. You need performance measurements to write the performance reports. Which process(es) will you run?
Control scope, control schedule, and control cost [Show Less]