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Chapter 7, End of Chapter, Quick Quiz, Exercise 8 ________ is a project performance measurement technique that integrates scope, time, and cost data.a. Reserve analysisb. Life cycle costingc. Project cost budgetingd. Earned value managementVerified Answer and ExplanationExplanationo is an option usce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing e u is an option ng elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus a f is an option m risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. D o is an option m ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Na Related Exercises29.____ is a project performance measurement technique that integrates scope, time, and cost data.a.Cost baseline c.Constructive cost modelingb.Earned value managementd.Parametric modelingAnswer: B Earned value management30.The ____ is that portion of the approved total cost estimate planned to be spent on an activity duringa given period.a.ACc.RPb.EVd.PVAnswer: D PV 31.The ____ is the ratio of actual work completed to the percentage of work planned to have beencompleted at any given time during the life of the project or activity.a.ACc.RPb.EVd.PVAnswer: C RP32.The ____ is an estimate of the value of the physical work actually completed.a.ACc.RPb.EVd.PVAnswer: B EV33.The ____ is the total direct and indirect costs incurred in accomplishing work on an activity during agiven period.a.ACc.RPb.EVd.PVAnswer: A AC34.Variances are calculated by subtracting the actual cost or planned value from ____.a.EVc.PVb.ACd.RPAnswer: A EV35.____ is the earned value minus the actual cost.a.SVc.CPIb.CVd.SPIAnswer: B CV36.____ is the earned value minus the planned value.a.SVc.CPIb.CVd.SPIAnswer: A SV37.The ____ is the ratio of earned value to actual cost and can be used to estimate the projected cost ofcompleting the project.a.SVc.CPIb.CVd.SPI Answer: C CPI38.The ____ is the ratio of earned value to planned value and can be used to estimate the projectedtime to complete the project.a.SVc.CPIb.CVd.SPIAnswer: D SPI39.The ____ is an estimate of what it will cost to complete the project based on performance to date.a.CPIc.EACb.SVd.SPIAnswer: C EAC40.Using simplified percentage complete amounts for a one-year project with weekly reporting and anaverage task or work packet size of one week, you can expect about a(n) ____ percent error rate.a.1c.11b.5d.15Answer: A1.Using good ____________________ can change the false perception that costs grow and failures areto be expected.Answer: project cost management2.The main outputs of the ____________________ process are activity cost estimates, basis ofestimates,and project document updates.Answer: cost estimating3.The main outputs of the ____________________ process are a cost performance baseline, projectfunding requirements, and project document updates.Answer: cost budgeting4.The main outputs of the ____________________ process are work performance measurements,budget forecasts, organizational process asset updates, change requests, project management planupdates, and project document updates.Answer: cost control5.Information technology project managers need to be able to present and discuss project informationin ____________________ terms as well as in technical terms.Answer: financial 6.____________________ are revenues minus expenditures.Answer: Profits7.____________________ allows you to see a big-picture view of the cost of a project throughout its lifecycle.Answer: Life cycle costing8.____________________ considers the total cost of ownership, or development plus support costs, fora project. Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document What is a project performance measurement technique that integrates scope time and cost data?Earned Value report
This report integrates project performance on scope, schedule, and cost measures using earned value management techniques.
What is the term for a time phased budget that project managers use to measure and monitor cost performance?Earned value management (EVM) is a project management methodology that integrates schedule, costs, and scope to measure project performance. Based on planned and actual values, EVM predicts the future and enables project managers to adjust accordingly.
Which method is used for determining the estimated annual costs and benefits for a project?Cash flow analysis is a method for determining the estimated annual costs and benefits for a project and the resulting annual cash flow.
What is the cost estimating technique based on estimating individual work items and summing them to get a project total called?ITPM-07_Cost_Management_Vocabulary. |
A project performance measurement technique that integrates scope, time, and cost data.
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