Project Management Control Cycle Quiz

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What does planned value refer to in project management?

A cost estimate of the budgeted resources across the project's life cycle (correct)

The total budget for the project

The real budgeted value of the work that has actually been performed to date

The cumulative total costs incurred in accomplishing the various project work packages

What is the first step in the control cycle?

Measuring progress (correct)

Comparing actual with planned performance

Setting a goal

Taking action

What is the formula for the earned value to date divided by the planned value of work scheduled to be performed?

Cost performance index (correct)

Budgeted cost at completion index

Schedule performance index

Budget efficiency index

After taking corrective action for deviations from the project plan, what is the next step?

The monitoring and control cycle begins anew Signup and view all the answers

Is the statement about Gap analysis true or false?

True Signup and view all the answers

How can a project manager calculate the projected budget to completion?

Budgeted cost at completion index Signup and view all the answers

What should project control be tailored to?

The needs and culture for which an organization intends it Signup and view all the answers

What are milestones generally considered to be in a project?

Key project review gates Signup and view all the answers

What is contingency money in project management?

Valued at a higher rate than non-contingency money when determining project costs Signup and view all the answers

What does a tracking Gantt chart primarily identify?

Stage of completion for each task Signup and view all the answers

Is positive variance on an S-curve always indicative of significant project progress?

No, rarely Signup and view all the answers

Is it true or false that a time-phased budget allocates costs across both project activities and the anticipated time in which the budget is to be expended?

True Signup and view all the answers

Project Management Control Cycle Quiz

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Questions and Answers

What does planned value refer to in project management?

What is the first step in the control cycle?

What is the formula for the earned value to date divided by the planned value of work scheduled to be performed?

After taking corrective action for deviations from the project plan, what is the next step?

Is the statement about Gap analysis true or false?

How can a project manager calculate the projected budget to completion?

What should project control be tailored to?

What are milestones generally considered to be in a project?

What is contingency money in project management?

What does a tracking Gantt chart primarily identify?

Is positive variance on an S-curve always indicative of significant project progress?

Is it true or false that a time-phased budget allocates costs across both project activities and the anticipated time in which the budget is to be expended?

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