Question 1

________ (which happens during IT projects when the scope of the system is allowed to continually grow) is one of the key contributors to projects costing more than originally budgeted and lasting longer than originally scheduled.

Accepted Answer

Scope creep refers to the continuous expansion of project scope without proper control, which consequently leads to increased costs and extended timelines. Requirements creep is a related issue but refers specifically to the growth of project requirements rather than project scope. Constraint creep and project creep are not commonly used terms in project management literature.

Question 2

This is the budgeted cost for the work scheduled to be completed on a task, work package, or activity up to a given point in time. Also referred to as budgeted cost of work scheduled (BCWS).

Accepted Answer

The budgeted cost for the work scheduled is commonly known as the planned value (PV), which represents the authorized budget for a specific task or activity up to a particular point in time. It is an essential parameter for measuring project performance and analyzing cost and schedule variances. Option A (EV) represents the earned value, which is the actual cost of work performed (ACWP) up to the reporting date. Option B (AV) represents the actual value, which is the actual cost of work completed (ACWP) up to the reporting date. Option C (AC) represents the actual cost, which is the total cost incurred in completing the task or activity up to the reporting date.

Question 3

In configuration management, this is validating the accuracy and completeness of a product against stated objectives and requirements and maintaining consistency among the components by ensuring that the product is configured with all the correct pieces.

Accepted Answer

Verification and audit is the process of ensuring that a product meets the stated objectives and requirements by validating its accuracy and completeness. This process also includes maintaining consistency among the components by ensuring that the product is configured with all the correct pieces. Verification and audit is an important part of configuration management because it helps to ensure that the product is of high quality and is ready for release.

Question 4

The ________ control process is responsible for influencing the factors that create project scope changes and attempts to control the impact of those changes, making sure all changes are approved through the formal integrated change control process.

Accepted Answer

The scope control process is responsible for ensuring that project scope changes are controlled and approved through the formal integrated change control process. It helps to minimize the impact of scope changes on the project by influencing the factors that create scope changes. Risk control process deals with risk-related issues, resource control process deals with resource utilization, and constraint control process deals with managing project constraints.

Question 5

This is the revised estimate for the work remaining, as determined by the project team.

Accepted Answer

ETC, which stands for Estimate to Complete, is the correct term for the revised estimate for the work remaining on a project.

Question 6

The ________ management knowledge area includes processes that are responsible for making sure the project completes in a timely fashion according to the initial schedule created plus any authorized changes.

Accepted Answer

The time management knowledge area focuses on creating and maintaining a project schedule, as well as ensuring the project is completed within the allotted time. It includes processes such as defining activities, sequencing them, estimating their duration, developing a schedule, and controlling the schedule through monitoring and updating.

Question 7

The process of verifying scope is responsible for obtaining the stakeholder's formal ________ of the completed project scope and associated deliverables.

Accepted Answer

The process of verifying scope seeks to obtain stakeholder acceptance that the project scope and associated deliverables have been completed as planned. This formal acceptance signifies that the project has met the requirements and objectives that were set out at the beginning of the project. Therefore, the best choice is C - acceptance.

Question 8

This is equal to the planned total budget for the complete project.

Accepted Answer

BAC (Budget at Completion) is the total planned budget for the entire project, which includes all resources required to complete the project. Therefore, BAC is equal to the planned total budget for the complete project. AV (Actual Value), AC (Actual Cost), and EV (Earned Value) are different performance metrics used in project management to measure progress and cost.

Question 9

The cost ________ process is concerned with influencing the factors that create cost variances on a project and controlling changes to a project's budget.

Accepted Answer

The cost control process is specifically concerned with influencing the factors that create cost variances and controlling changes to the project budget, ensuring that any changes are made in accordance with the project's change management plan.

Question 10

A key tool used as input for the formal integrated change control process and the timely management of a project budget is the ________ technique.

Accepted Answer

The earned value management technique is used to track project progress and measure actual performance against planned performance, allowing for timely management of the project budget. It provides data for the formal integrated change control process, which allows for adjustments to be made to the project budget and schedule as necessary. SWOT is a strategic planning tool used for analyzing a project's strengths, weaknesses, opportunities, and threats. Constraint management is the process of identifying and managing constraints that can affect project performance. Expected future value is a calculation used in financial management to estimate the potential future value of an investment. While all of these tools can be useful in project management, earned value management is the best choice for the given scenario.

Question 11

In the ________ management knowledge area, the processes concerned with monitoring and control are verifying scope and controlling scope.

Accepted Answer

The knowledge area referred to in the question is scope management, as noted in the first sentence. Therefore, the correct answer is choice A as both verifying scope and controlling scope are processes within the scope knowledge area. The other options (risk, resource, constraint) are not applicable to the question.

Question 12

In this tool for estimating percentage complete, no credit is given for any work completed until the task is completed.

Accepted Answer

The 0-100 percent rule in project management means that no progress credit is given until the task is fully completed, hence the name 0-100.

Question 13

In the time management knowledge area, the process concerned with monitoring and control is controlling the ________.

Accepted Answer

The controlling process in time management primarily focuses on monitoring and controlling the project schedule, including reviewing progress, tracking delays, and adjusting timelines as necessary. While resources, scope, and vendors may also require monitoring and control, they are not the primary focus of this knowledge area.

Question 14

In this tool for estimating percentage complete, when a task or work package is started, it is immediately assigned a 50 percent complete status until it is completed and then is set to 100 percent complete.

Accepted Answer

The 50-50 percent rule assigns a work package a 50 percent complete status when it is started and then sets it to 100 percent complete when it is finished. This is a simple and easy-to-use method for estimating progress on a task. The other options listed are not relevant to this particular method.

Question 15

The cost management ________ area is responsible for defining and controlling all project costs so that the project can be completed within the approved budget.

Accepted Answer

The cost management knowledge area is responsible for defining and controlling all project costs to ensure the project is completed within the approved budget.

Question 16

This is equal to the actual costs reported to date plus the new ETC.

Accepted Answer

EAC (Estimate at Completion) takes into account both the actual costs to date (AC) and the estimated future costs (ETC), which is the additional cost required to complete the project. Therefore, EAC is equal to AC + ETC.

Question 17

The schedule ________ process is concerned with determining the current status of all items currently being worked on, influencing factors that create schedule changes, determining whether the schedule has changed, and managing changes to the schedule by using a formal integrated change control process.

Accepted Answer

The schedule control process is specifically designed to manage and control the schedule, including tracking the status of project activities, managing the factors that cause schedule changes, recognizing when changes occur, and handling those changes through a formal change control process.

Question 18

This equals the ratio of EV to PV. A value less than 1.0 indicates a project behind schedule, and a value greater than 1.0 indicates a project ahead of schedule.

Accepted Answer

SPI or Schedule Performance Index is the ratio of EV (earned value) to PV (planned value). It indicates whether the project is ahead or behind schedule. A value less than 1.0 indicates a project behind schedule, and a value greater than 1.0 indicates a project ahead of schedule. Therefore, option A is the correct choice for this question.

Question 19

With this method of percentage complete estimation, a team agrees to use a set of completion milestones such as thirds (33 percent, 67 percent, 100 percent) or fourths (25 percent, 50 percent, 75 percent, 100 percent).

Accepted Answer

This method is called the Interval percent rule, which involves using predetermined milestones to estimate percentage complete. The other options (A, B, D) are not applicable to this type of estimation.

Question 20

EVM provides needed information for the ________ of project status simultaneously across time, cost, and work performance.

Accepted Answer

The answer of EVM provides needed information for the ________...

Quiz 11: Project Monitoring and Control, Part I