Chapter 11 - Executing the Plan

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Questions and Answers

What occurs during the Executing Phase of a project?

The project budget is determined.

The project's product, service, or result is created. (correct)

The project team is disbanded.

All planning documents are finalized.

Which activity is essential during the Executing Phase?

Stakeholder analysis

Quality Planning

Monitoring the project schedule (correct)

Risk Planning

What typically happens to the project team during the Executing Phase?

The team shrinks due to project completion.

The team size often decreases.

Additional team members are often added. (correct)

The team remains the same size throughout all phases.

Which of the following may be necessary if the duration of activities exceeds the project schedule?

Implementing schedule compression techniques. Signup and view all the answers

What is NOT a primary focus during the Executing Phase?

Finalizing the project procurement strategy. Signup and view all the answers

What does a Cost Performance Index (CPI) of less than 1 typically indicate?

The project is over budget and taking longer than planned. Signup and view all the answers

How is the estimate at completion (EAC) calculated when the CPI is known?

BAC divided by CPI. Signup and view all the answers

Which of the following is true about the Schedule Variance (SV)?

A negative SV implies the project is behind schedule. Signup and view all the answers

What should the Risk Register be monitored for during the project?

To add new risks and evaluate risk response plans. Signup and view all the answers

What is the purpose of the Communication Management Plan?

To ensure planned communications are conducted effectively. Signup and view all the answers

How is the Project Status Report structured?

It encompasses past activities, current issues, and project status. Signup and view all the answers

What does a negative Cost Variance (CV) signify in project management?

The project is over budget. Signup and view all the answers

Which technique involves shortening the durations of critical tasks by adding resources or changing their scope?

Crashing Signup and view all the answers

What is the primary role of the Project Scope Statement in project management?

Describing deliverables and quality requirements Signup and view all the answers

What change would result in monitoring the project budget effectively?

Comparing incurred costs to the Detailed Budget Signup and view all the answers

Which of the following terms refers to the total cost incurred for an activity during a specific time period?

Actual Cost (AC) Signup and view all the answers

In Earned Value Management, what does Planned Value (PV) represent?

Budgeted costs assigned to an activity in a given period Signup and view all the answers

Which method allows for overlapping tasks to shorten the project schedule?

Fast tracking Signup and view all the answers

What is the key factor that Earned Value Management (EVM) integrates?

Scope, time, and cost Signup and view all the answers

What ratio does Rate of Performance (RP) measure?

Actual work completed to planned work completed Signup and view all the answers

Study Notes

Executing the Project

Project team often increases in size during this phase
Deliverables of the project are produced in this phase
The project schedule should be monitored to ensure all activities are completed

Monitoring and Controlling the Project

Costs should be compared to the Detailed Budget
Costs can be affected by unexpected issues like work taking longer than estimated, unexpected problems, and price changes
Earned value management (EVM) is a project performance measurement technique that integrates scope, time, and cost data
Planned value (PV), also known as the budget, is the approved total cost estimate planned for a given time
Actual cost (AC), is the sum of direct and indirect costs incurred on an activity during a given period
Earned value (EV), is an estimate of the value of the completed physical work

Reporting the Status of the Project

Project status report provides a snapshot of the project's status at a given time
Project dashboards may also be used to communicate the status of a project
Variance from project plans should be communicated to stakeholders

Project Quality During the Executing Phase

Quality Management Plan was created during the Planning Phase
Two main quality functions are performed during execution:
- Quality Assurance
- Quality Control
Quality Assurance Plan contains the processes that should be followed during the project and any testing to verify deliverable quality
Quality Control verifies deliverables according to the processes defined in the Quality Assurance Plan

Cost of Quality

The cost of conformance includes delivering products that meet requirements
The cost of nonconformance means taking responsibility for failures or not meeting quality expectations

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Description

Test your knowledge on key phases of project management, including executing, monitoring, and controlling projects. This quiz covers essential concepts like budget management, earned value management, and project status reporting. Perfect for students and professionals in the field of project management.