DeVry PROJ 587 Week 3 Quiz 2015 Essay Answers

Grading Summary

These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below.

Question 1. Question : (TCO A) You are the CEO for Skipper Products. The business has had a great year and you see that a PPM is needed to manage all the projects that are currently in progress, along with future projects. You must convince the board of directors to accept this change in order to implement it. You have decided to give a presentation at the next meeting that covers the information below.

• What is a PPM?

• Compare PPM, PgM, and Project level.

• Benefits of each (PPM, PgM, and Project)

• Why should Skipper Products implement a PPM?

Create a detailed outline that covers all the areas listed above.

Question 2. Question : (TCO B) There are three central processes that are required to develop a portfolio strategic plan. Describe each of them. Why are these processes important to the success of an organizations strategic plan?

Question 3. Question : (TCO C) Cost management is used to help manage projects as investments and to evaluate project management performance using Earned Value Management (EVM). What is EVM? Describe the benefits of using EVM.

Question 4. Question : (TCO C) As a project manager, you are constantly concerned with keeping the project on schedule and in budget. Four formulas used to measure project schedule and budget are CPI, SPI, CV, and SV. Define each formula, explain how it measures schedule or budget, and what the results mean to the project manager.