The budgeted cost for all the activities in a project with the help of Earned Value Method is A. Actual Cost B. Budget at completion C. Budget for completion D. Estimate at completion

The budgeted cost for all the activities in a project with the help of Earned Value 

Method is 

A. Actual Cost 

B. Budget at completion 

C. Budget for completion 

D. Estimate at completion
by

1 Answer

Answer :

D. Estimate at completion
by

Related questions

Petri is working for Nokia in Finland. He has completed 10 months of his 12-month project, budgeted at $800,000. His earned value analysis shows that variance at completion is $75,000. What is the estimate at completion value for this project? Select one: a. 725,000 b. -725,000 c. -$875,000 d. $875,000 e. $800,000

Description : Petri is working for Nokia in Finland. He has completed 10 months of his 12-month project, budgeted at $800,000. His earned value analysis shows that variance at  completion is $75,000. What is the estimate at completion value ... : a. 725,000 b. -725,000 c. -$875,000 d. $875,000 e. $800,000

Last Answer : d. $875,000

A project with total budget cost of 30 crores is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given: Budgeted cost of work performed (EV) = 17 crores Actual Cost of work performed (AC = 19 crores Budgeted cost of work scheduled (PV) = 21 croresWhat is the cost performance index? A.0.895 B.0.81 C.0.90 D.1.12

Description :  A project with total budget cost of 30 crores is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given:  Budgeted cost of work performed (EV) = 17 ... crores What is the cost performance index?  A.0.895  B.0.81  C.0.90  D.1.12

Last Answer : A.0.895

. If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : . If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

. If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : . If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

Earned value management integrates scope, cost, and schedule measures to: A. assess project performance and progress. B. develop a preliminary budget. C. assess communication effectiveness among project team members. D. assess whether all requirements were met.

Description : Earned value management integrates scope, cost, and schedule measures to:  A. assess project performance and progress.  B. develop a preliminary budget. C. assess communication effectiveness among project team members. D. assess whether all requirements were met.

Last Answer : A. assess project performance and progress.

The basic approach to Earned Value is toA. Sum up the Work Package Earned Values to calculate the Earned Value of the Control Account and ultimately the Project B. Multiply the percent complete by the value of the Work Package to calculate the "Earned Value" for that package C. Estimate a percent complete for each WBS Work Package D. All of the above

Description : The basic approach to Earned Value is to A. Sum up the Work Package Earned Values to calculate the Earned Value of the Control  Account and ultimately the Project  B. Multiply the percent complete by ... that package  C. Estimate a percent complete for each WBS Work Package  D. All of the above

Last Answer : D. All of the above

CG Co manufactures a single product T. Budgeted production output of product T during June is 200 units. Each unit of product T requires 6 labour hours for completion and CG Co anticipates 20 per cent idle time. Labour is paid at a rate of Rs7 per hour. The direct labour cost budget for March is (a) Rs 6,720 (b) 8,400 (c) 10,080 (d) 10,500

Description : CG Co manufactures a single product T. Budgeted production output of product T during June is  200 units. Each unit of product T requires 6 labour hours for completion and CG Co anticipates 20 per  cent idle time. Labour is paid at ... for March is (a) Rs 6,720 (b) 8,400 (c) 10,080 (d) 10,500

Last Answer : (d) 10,500

A critical path network diagram does NOT: A. Help determine the amount of float B. Identify the particularly important activities C. Calculate earned value D. Calculate the duration of the whole project

Description : A critical path network diagram does NOT: A. Help determine the amount of float B. Identify the particularly important activities C. Calculate earned value D. Calculate the duration of the whole project

Last Answer : C. Calculate earned value

. When estimating project time schedules using industry standards, the estimated project completion time for a systems project would be _____ person-months if the actual planning phase were completed in 6 person-months. a. 30 b. 40 c. 17.14 d. 9 e. 50

Description : . When estimating project time schedules using industry standards, the estimated  project completion time for a systems project would be _____ person-months if the actual  planning phase were completed in 6 person-months.  a. 30  b. 40  c. 17.14  d. 9  e. 50

Last Answer : b. 40

Which of the following represents the estimated value of the work actually accomplished? A. Earned value (EV) B. Planned value (PV) C. Actual cost (AC D. Cost variance (CV)

Description : Which of the following represents the estimated value of the work actually  accomplished?  A. Earned value (EV)  B. Planned value (PV)  C. Actual cost (AC  D. Cost variance (CV)

Last Answer : A. Earned value (EV)

What is a project phase? A. A collection of logically related project activities that culminate in the completion of one or more deliverables (Ans.) B. A singular activity that completes a deliverable C. Consists of work that has very similar parts D. A consistent period of time that is used throughout a project

Description : What is a project phase? A. A collection of logically related project activities that culminate in the completion  of one or more deliverables (Ans.)  B. A singular activity that completes a ... that has very similar parts D. A consistent period of time that is used throughout a project

Last Answer : A. A collection of logically related project activities that culminate in the completion  of one or more deliverables (Ans.)

Complete the following statement. As a project manager, Darrell is excited that he is assigned to be in charge of the most important project this year. After being chartered for the project, he analyses the information in the project charter and the stakeholder register to: Select one: a. decide how to draft a scope statement. b. start to define and develop the stakeholder needs and requirements c. prepare for the template to monitor project progress. d. estimate the entire project budget.

Description : Complete the following statement. As a project manager, Darrell is  excited that he is assigned to be in charge of the most important project  this year. After being chartered for the project, he ... c. prepare for the template to monitor project progress. d. estimate the entire project budget.

Last Answer : b. start to define and develop the stakeholder needs and requirements

A project budget estimate that is developed with the least amount of knowledge is known as which of the following?Select one: a. Rough order of magnitude (ROM) estimate b. Scope of work estimate c. Conceptual estimate d. Line estimate e. Milestone schedule estimate

Description :  A project budget estimate that is developed with the least amount of  knowledge is known as which of the following? Select one: a. Rough order of magnitude (ROM) estimate b. Scope of work estimate c. Conceptual estimate d. Line estimate e. Milestone schedule estimate

Last Answer : c. Conceptual estimate

The actual output of 162,500 units and actual fixed costs of Rs. 87000 were exactly as budgeted. However, the actual expenditure of Rs 300,000 was Rs. 18,000 over budget. What was the budget variable cost per unit?

Description :  The actual output of 162,500 units and actual fixed costs of Rs. 87000 were exactly as budgeted.  However, the actual expenditure of Rs 300,000 was Rs. 18,000 over budget. What was the budget variable cost per unit?

Last Answer : (a) Rs 1.20

Creating a work plan requires three steps: identify the tasks that need to be accomplished, estimate the time that it will take to complete the tasks, and record the task completion time in a Gantt Chart.

Description : Creating a work plan requires three steps: identify the tasks that need to be  accomplished, estimate the time that it will take to complete the tasks, and record the task  completion time in a Gantt Chart.

Last Answer : Ans: False

What is the definition of Earned Value Management? A. An approach that combines the scope, schedule, and cost baseline into a project performance and progress measurement tool. B. An approach that combines the schedule and cost baseline into a project performance and progress measurement tool. C. An approach that combines the scope and cost baseline into a project performance and progress measurement tool.

Description : What is the definition of Earned Value Management? A. An approach that combines the scope, schedule, and cost baseline into a project  performance and progress measurement tool.  B. ... approach that combines the scope and cost baseline into a project performance and  progress measurement tool.

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Which of the following does NOT generate changes to the Project documents: A. Define Activities B. Sequence Activities C. Estimate Activity Resources D. Estimate Activity Durations

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Christine does not have the skills that her project manager feels are necessary and no money has been budgeted for outside consultants. Mentoring is a good option to improve Christine’s skills in this situation.

Description : Christine does not have the skills that her project manager feels are necessary and no  money has been budgeted for outside consultants. Mentoring is a good option to improve  Christine’s skills in this situation.

Last Answer : Ans: True

Amount of work completed to date compared with planned in the Earned Value Management method is A. Schedule Performance Index B. Cost Performance Index C. Percentage Complete D .Percentage Spent

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Last Answer : C. Percentage Complete

What The actual income for this month has been reduced by 200. How can this budget be modified so there will be a positive actual net income Monthly Budget Budgeted Amount Actual Amount Income Wages 1?

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Last Answer : What is the answer ?

Which one of the following statements best defines an estimate? a. An approximation of project time and cost targets, refined throughout the project life cycle. b. A prediction of a future condition or event based on information or knowledge available now. c. The value of useful work done at any given point in a project to give a measure of progress. d. A situation that affects or influences the outcome of the project expressed in time or cost terms

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Last Answer : a. An approximation of project time and cost targets, refined throughout the project life cycle.

Which one of the following statements best defines an estimate? a. An approximation of project time and cost targets, refined throughout the project life cycle. b. A prediction of a future condition or event based on information or knowledge available now. c. The value of useful work done at any given point in a project to give a measure of progress. d. A situation that affects or influences the outcome of the project expressed in time or cost terms.

Description : Which one of the following statements best defines an estimate?  a. An approximation of project time and cost targets, refined throughout the project life  cycle.  b. A prediction of a future ... . A situation that affects or influences the outcome of the project expressed in time or cost terms.

Last Answer : a. An approximation of project time and cost targets, refined throughout the project life  cycle.

Which of the following is the most important element ofA. Risk Management activities B. Quality Assurance activities C. Activity Resource requirements D. Budget Control activities Project Management Plan that is useful in HR Planning process:

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Fill in the blanks. It is during the ______________ phase that the decision should be made regarding whether the project should continue. During this phase, ____________ must be considered and weighed against the potential benefit of the project’s success. Select one: a. completion, cost b. closeout, resources c. execution, performance d. planning, timing e. initiation, risk

Description : Fill in the blanks. It is during the ______________ phase that the decision should be  made regarding whether the project should continue. During this phase, ____________  must be considered and weighed ... . closeout, resources c. execution, performance d. planning, timing e. initiation, risk

Last Answer : e. initiation, risk

When calculating EVM, Peter noticed that the cumulative planned value is 150% of the cumulative earned value. What does this mean? Select one: a. SPI<1, so the project is behind schedule. b. SPI>1, so the project is OK to complete on time. c. SPI<1, so the project is ahead of time. d. SPI>1, so the project is behind schedule. e. SPI>1, so the project is on schedule.

Description : When calculating EVM, Peter noticed that the cumulative planned value is 150%  of the cumulative earned value. What does this mean? Select one: a. SPI1, so the project is OK to complete on time. c. SPI1, so the project is behind schedule. e. SPI>1, so the project is on schedule.

Last Answer : a. SPI

Kathryn has little experience estimating the time it will take to complete a systems project. She has just completed the planning phase of the project. What method should she use to estimate the time required to build the system? a. adjusted project complexity b. function points c. industry standards d. Microsoft Project e. more complex approach

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Independent float is the amount of time by which: A. Start of the activity can be delayed without affecting the EST of subsequent activity B. reduces the float of subsequent activities C. completion of an activity can be delayed beyond EFT without affecting EST D. completion of an activity can be delayed beyond earliest possible finishing time

Description : Independent float is the amount of time by which:  A. Start of the activity can be delayed without affecting the EST of subsequent  activity  B. reduces the float of subsequent ... without affecting EST  D. completion of an activity can be delayed beyond earliest possible finishing time

Last Answer : A. Start of the activity can be delayed without affecting the EST of subsequent  activity

To assist in budget control, it is suggested that the estimate occur at the _____ ____ ______ level of the WBS 1. Highest 2. Lowest 3. Major work effort 4. Third

Description : To assist in budget control, it is suggested that the estimate occur at the _____ ____ ______  level of the WBS 1. Highest  2. Lowest  3. Major work effort  4. Third

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A(n) _ is a review of the quality plan, procedures, data collection, and analysis by an outside group. Select one: a. scope document b. project appraisal c. cost performance index d. analogous estimate e. quality audit

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Last Answer : e. quality audit

Which type of project cost estimate is the most accurate? 1. Preliminary 2. Definitive 3. Order of magnitude 4. Conceptual

Description : Which type of project cost estimate is the most accurate? 1. Preliminary  2. Definitive  3. Order of magnitude  4. Conceptual

Last Answer : 2. Definitive

Fill in the blank. Crashing refers to when the task duratioSelect one: a. scope creep b. floated c. slack d. compressed e. expeditedn’s are __ along the critical path to meet the project completion date.

Description : Fill in the blank. Crashing refers to when the task duration’s are __ along the  critical path to meet the project completion date. Select one: a. scope creep b. floated c. slack d. compressed e. expedited

Last Answer : d. compressed

Fill in the blank. Risk must be considered in the _____ phase and weighed against the potential benefit of the project’s success in order to decide if the project should be chosen. Select one: a. completion b. closeout c. execution d. planning e. initiation

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Last Answer : e. initiation

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Description : After the celebration of the successful milestone completion, a project manager  will often do which of the following? Select one: a. Continue to increase the intensity of the project to achieve the ... milestone. e. Stretch the goals of the project team, making them more tough and rigorous.

Last Answer : c. Allow the team to reflect on finding new ways of approaching the project work.

Fill in the blank. During the _________ of a project, the project manager focuses on developing the project infrastructure needed to execute the project and developing clarity around the project charter and scope. Select one: a. completion b. start-up c. execution d. evaluation e. selection

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Last Answer : b. start-up

Fill in the blank. During the _________ of a project, the project manager focuses on developing the project infrastructure needed to execute the project and developing clarity around the project charter and scope. Select one: a. completion b. start-up c. execution d. evaluation e. selection

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Last Answer : b. start-up

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Description : Who orchestrate the completion of the project by inducting the right people at the  right time to address the right issue and make the right decisions?  A.Project Coordinator  B.Project Manager  C.Operations Manager  D.Strategic Business Unit Head

Last Answer : B.Project Manager

Which stage of project management life cycle requires the maximum time of completion A.Conceptualization B.Planning C.Execution D.Estimation

Description : Which stage of project management life cycle requires the maximum time of  completion  A.Conceptualization  B.Planning  C.Execution  D.Estimation

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Last Answer : Ans: False

When planning a systems project, overly optimistic timetables are the cause of project completion delays.

Description : When planning a systems project, overly optimistic timetables are the cause of project  completion delays.

Last Answer : Ans: True

Each project phase is marked by completion of one or more:1. Tasks. 2. Milestones 3. Deliverables 4. Life cycles

Description : Each project phase is marked by completion of one or more: 1. Tasks.  2. Milestones  3. Deliverables  4. Life cycles

Last Answer : 3. Deliverables

What is the last item a project manager must do to finalize project close-out? 1. Reassign the team 2. Contract completion 3. Archive the project records 4. Complete lessons learned 5. None of the above.

Description : What is the last item a project manager must do to finalize project close-out? 1. Reassign the team  2. Contract completion  3. Archive the project records  4. Complete lessons learned  5. None of the above.

Last Answer : 2. Contract completion

A prerequisite of effective time management is: 1. Knowing the dictated project completion date 2. Having the most advanced software package for project planning, scheduling and control 3. Having a good project WBS which identifies the major project deliverables and tasks, and the person responsible for each of them 4. Having a well staffed scheduling department

Description : A prerequisite of effective time management is:  1. Knowing the dictated project completion date  2. Having the most advanced software package for project planning, scheduling and control  3. ... and the  person responsible for each of them  4. Having a well staffed scheduling department

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Description : Which of the following may generate a milestone list: A. Define Activities B. Sequence Activities C. Estimate Activity Resources D. Estimate Activity Durations

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Which of the following may generate a milestone list: A. Define Activities B. Sequence Activities C. Estimate Activity Resources D. Estimate Activity Durations

Description : Which of the following may generate a milestone list: A. Define Activities B. Sequence Activities C. Estimate Activity Resources D. Estimate Activity Durations

Last Answer : A. Define Activities

Political unrest, budget overruns, size and complexity of the project Answer: B (8)Decision trees are best used for : 1. Determining the interaction of the amount at stake and the expected value 2. Association of the probabilities with the risk events 3. An illustration of how to see the interactions between decisions and the associated events 4. A flow chart which determines the standard deviation of the risk event

Description : Political unrest, budget overruns, size and complexity of the project  Answer: B  (8)Decision trees are best used for : 1. Determining the interaction of the amount at stake and the expected ... and the associated events  4. A flow chart which determines the standard deviation of the risk event

Last Answer : 3. An illustration of how to see the interactions between decisions and the associated events

When a project manager starts to plan a new project budget, the cost of which project management process group is expected to be lowest? Select one: a. Initiating b. Executing c. Monitoring and controlling d. Closing e. Planning

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Last Answer : d. Closing

A time-phased budget that project managers use to measure and monitor cost performance. A. Cost Baseline B. Cost Budgeting C. Cost Estimating D. Cost Variance

Description :  A time-phased budget that project managers use to measure and monitor cost performance. A. Cost Baseline B. Cost Budgeting C. Cost Estimating D. Cost Variance

Last Answer : A. Cost Baseline