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?

    <p>The monitoring and control cycle begins anew</p> Signup and view all the answers

    Is the statement about Gap analysis true or false?

    <p>True</p> Signup and view all the answers

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

    <p>Budgeted cost at completion index</p> Signup and view all the answers

    What should project control be tailored to?

    <p>The needs and culture for which an organization intends it</p> Signup and view all the answers

    What are milestones generally considered to be in a project?

    <p>Key project review gates</p> Signup and view all the answers

    What is contingency money in project management?

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

    What does a tracking Gantt chart primarily identify?

    <p>Stage of completion for each task</p> Signup and view all the answers

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

    <p>No, rarely</p> 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?

    <p>True</p> Signup and view all the answers

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