GCU MGT640 2020 JUNE Week 6 Quiz Latest

MGT640 Fundamental of Project Management

Week 6 Quiz   

Variance analysis and trend analysis are a tool and technique of the Control Costs process. Variance analysis is used to gather and evaluate project performance information. Which of the following best describes variance analysis?

It determines if project performance is improving or worsening over time by analyzing project results for variances.

It is the most often used performance measurement tool.

It compares the expected project plan results with the actual results to determine if variances exist. 

It examines schedule, cost, and scope project measurements together to determine if variances exist.

2Risk responses and contingency plans are examples of which of the following?

Corrective action

Work authorization action

Organizational action

Preventive action

3The tools and techniques of Monitor Risks are used throughout the life of the project to monitor risks. Which of the following lists the tools and techniques of this process?

Data analysis (technical performance analysis, reserve analysis), audits, and meetings

Audits, risk reviews, reserve analysis, and earned value analysis

Risk reassessment, audits, additional risk identification and analysis, and meetings 

Data analysis (trend analysis, reserve analysis), audits, and earned value analysis

4You are in the Control Cost process. You’ve recently received an approved change as a result of one of the cost performance measurements. This is considered a budget update. This revised cost estimate, or budget update, will require all appropriate parties agree to a change to which of the following?

Project costs       

Project schedule

Cost baseline

Cost estimates

5This performance measurement is the direct and indirect costs of work to date:

AC

PV

EV

CV

6You have gathered the following cost measurements for your project: EV = 120, AC = 115, PV = 135. Which of the following statements is true?

The project is ahead of schedule and costs are lower than planned. 

The project is behind schedule and costs are lower than planned. 

The project is behind schedule and costs are higher than planned.

The project is ahead of schedule and costs are higher than planned.

7You have gathered the following cost measurements for your project: EV = 120, AC = 115, PV = 135, ETC = 100. What are the CPI and SPI respectively?

CPI = .89 and SPI = 1.04

CPI = .96 and SPI = 1.13

CPI = 1.13 and SPI = .96 

CPI = 1.04 and SPI = .89

8You have gathered the following cost measurements for your project: EV = 200, AC = 190, AC = 170, PV = 135, PV = 135, BAC = 210. You expect the project to continue as it has in the past and that ETC uses the budgeted rate. Which of the following is the correct EAC given the circumstances (rounded up)?

179

130

200

218

9You have gathered the following cost measurements for your project: EV = 132, EV = 120, AC = 115, PV = 135, PV = 139, BAC = 140. You expect future performance and variances to behave like past performance and variances. Which of the following is the correct EAC given the circumstances (rounded up)?

122

147 

113 

8

10You have gathered the following cost measurements for your project: AC = 200, PV = 215, EV = 200, BAC = 225. What is the ETC if cost variances are not expected to be typical to what you’ve seen to date?

20

25

15

10

11The Control Schedule process manages changes to the schedule. All of the following are true regarding Control Schedule except which one?

Scope changes will impact the project schedule and will require schedule changes and revisions.

Control Schedule defines how changes to the schedule will be managed.

The work performance data output of this process includes schedule updates.

Changes to approved baseline schedule start and end dates are called revisions.

12During the Control Quality process, this tool and technique included in the data representation tool and technique is used to monitor repetitive activities and plot sample variance measurements to determine if the product is in control (which is defined by being within plus or minus three standard deviations of the mean). Which tool and technique does this describe?

Scatter diagrams

Statistical sampling

Pareto chart

Control charts

13This tool and technique included in the data representation tool and technique of the Control Quality process is used to identify root causes. Which tool and technique is it?

Run chart

Flowchart

Cause-and-effect diagram

Scatter diagram

14Which of the following is true regarding common causes of variances?

They result from random variances, known or predictable variances, or variances that are always present in the process and are depicted in scatter diagrams. 

They result from random variances or variances that are always present in the process and are depicted in a Pareto diagram.

They result from random variances, known or predictable variances, or variances that are always present in the process and are depicted in control charts.

They result from random variances or variances that are always present in the process and are depicted in flowcharts.

15Which of the following are the outputs of the Validate Scope process?

Work performance information, change requests, and project documents updates

Change requests and project document updates

Work performance reports, change requests, and project documents updates

Change requests, project document updates, project management plan updates

16All of the following are true regarding scope changes except which one?

Scope changes will likely require adjustments to some of the Planning processes.

Scope changes will likely bring about quality improvements.

Changes to project scope should also be accounted for in the product scope.

Changes to the agreed-upon WBS constitute a scope change.

17 All of the following are true regarding the Control Resources process except which one?

Taking corrective action when resources are not utilized as planned 

Making sure that certain resources are at the right location 

Performance reviews are one of the tools and techniques of this process. 

Making human, material, equipment, and supplies resources available at the time they are needed