PTT Week 6 - Monitoring (Chat)

What is the primary purpose of project controls?

In project control, what is the difference between 'monitoring' and 'controlling'?

Which of the following is a key component of a change control system?

What is the purpose of a control chart in project management?

In Earned Value Management (EVM), what does Cost Variance (CV) indicate?

How is Schedule Performance Index (SPI) calculated in EVM?

What does a negative Schedule Variance (SV) indicate in EVM?

What is the formula for calculating Estimate at Completion (EAC) using the typical variance method?

In variance analysis, what is the first step when identifying a deviation from the project baseline?

What is a common limitation of Earned Value Management (EVM)?

Your project has a Cost Performance Index (CPI) of 0.8. What does this indicate, and what is your next action?

You receive a change request that would extend the project duration but improve the product’s quality. How should you proceed?

During a performance review, you notice that the Schedule Performance Index (SPI) has decreased from 1.0 to 0.9. What does this signify?

A stakeholder questions why the project's contingency fund is being used frequently. What is the best response?

You are reviewing project performance using Earned Value Management (EVM) and find that the Actual Cost (AC) is higher than the Earned Value (EV). What does this indicate?

Your project’s Schedule Performance Index (SPI) is 0.85, and the team is struggling to meet deadlines. What is the best approach to get back on track?

A performance report shows that the Cost Variance (CV) is positive. What does this indicate, and what should you do next?

During a project control meeting, a team member suggests ignoring minor variances. What should be your response?

Your Earned Value Management (EVM) analysis shows a Cost Performance Index (CPI) of 1.2 and a Schedule Performance Index (SPI) of 0.8. What does this indicate about the project?

A change request has been approved that will impact both the project scope and schedule. What should you update first?

Your project is consistently reporting negative Schedule Variance (SV). What is the most effective strategy to address this issue?

You notice a discrepancy between the planned value (PV) and the earned value (EV) in your EVM report. What is your next step?

A project control report indicates that the Estimate at Completion (EAC) is significantly higher than the Budget at Completion (BAC). What does this suggest?

You discover that the Actual Cost (AC) is consistently higher than the Earned Value (EV). What should you focus on first to address this issue?

The project sponsor is concerned about scope creep. Which project control process should be emphasized to address this concern?

You are performing a trend analysis and notice that the project’s SPI has been declining over the past three reporting periods. What should you do?

Your project’s EVM data shows a CPI of 1.0 and an SPI of 1.0. What is your interpretation of this result?

A key performance indicator (KPI) for your project is not being met consistently. What is the first step you should take?

A variance analysis reveals that project costs are higher than expected due to increased material prices. What should you update to reflect this change?

Your EAC is showing a value higher than the BAC, and the project team is requesting additional resources. What should be your immediate focus?

You are asked to rebaseline the project after several changes have been approved. What is the key reason for rebaselining?

A control chart shows that several data points are trending outside the upper control limit. What does this indicate?

You are using EVM metrics to forecast project performance. What does an EAC significantly lower than BAC suggest?

You have identified an unexpected trend in project performance data. What is the next logical step?

The project team has identified a discrepancy between the project’s planned value (PV) and actual progress. What should be updated to ensure accurate project tracking?

What is the purpose of the 'performance measurement baseline' in project controls?

In Earned Value Management (EVM), what does a Schedule Performance Index (SPI) value of 1.2 indicate?

Which of the following is NOT typically included in a change control process?

What is the primary role of the change control board (CCB) in project management?

In project controls, what is ‘variance analysis’ used for?

Which metric in EVM indicates whether a project is performing within its budget?

In project control, what does 'rebaselining' mean?

What does the term 'trend analysis' refer to in project controls?

Which of the following best describes the purpose of a project status report?

What is 'management reserve' used for in project controls?

In the context of project controls, what is the 'triple constraint'?

What is the purpose of using 'forecasting' in project controls?

Which of the following tools is most commonly used for root cause analysis in project controls?

What does a Cost Variance (CV) of zero indicate in Earned Value Management (EVM)?

Which element is NOT typically part of a project control plan?

Project Controls Purpose

Monitoring vs. Controlling

Change Control System

Control Chart Purpose

Cost Variance (CV)

Schedule Performance Index (SPI)

Negative Schedule Variance (SV)

Estimate at Completion (EAC)

Variance Analysis First Step

EVM Limitation

Low Cost Performance Index (CPI)

Change Request Handling

Decreasing SPI

Contingency Fund Use

Actual Cost (AC) > Earned Value (EV)

Positive Cost Variance

Ignoring Minor Variances

CPI of 1.2 and SPI of 0.8

Scope and Schedule Change

Negative Schedule Variance (SV)

Planned Value (PV) and Earned Value (EV) Discrepancy

EAC > BAC

Actual Cost (AC) consistently greater than earned value (EV)

Scope Creep

SPI declining trend

CPI & SPI both 1.0

KPI Performance Issue

Increased Material Prices