Harry works as a project manager for the NHQ project. His project has a budget of $2,208,456 and is scheduled to last for three years. His project is currently forty percent complete though it should be forty-five percent complete. In order to reach this point of the project, he has spent $725,000. Management needs a performance report regarding the NHQ project. Management is concerned that this project will be over budget upon completion. What is the estimate at completion for this project that Harry will need to report to management?
Correct Answer:
C
The estimate at completion can be calculated by dividing the budget at completion by the cost performance index. Here,
CPI =EV/AC
= (0.40*2,208,456)/725000
= 1.21846
EAC = BAC/CPI
= 2,208,456/1.21846
= 1,812,498
What is Estimate at Completion (EAC)? Estimate at Completion (EAC) is a field that displays the final cost of the project including the actual costs and the forecast of remaining costs based on the cost performance index (CPI) so far. The formula used to calculate this estimate is as follows: ACWP+(BAC-BCWP)/CPI
You are the project manager of a research project. Because much of the project work will be based on what is discovered in each stage of the project work, you are directing the project time to focus on creating time estimates for the most imminent research work and broad estimates for the project work that is coming later in the project. What type of planning are you using in this project?
Correct Answer:
B
This is an example of rolling wave planning. Rolling wave planning focuses on the most imminent work in detail and creates estimates for the whole project and later work in broad estimates. Rolling wave planning is a form of progressive elaboration. Rolling wave planning is a technique for performing progressive elaboration planning where the work to be accomplished in the near future is planned in detail at a low level of the work breakdown structure. The work to be performed within another one or two reporting periods in the near future is planned in detail as work is being completed during the current period.
Answer option D is incorrect. Decomposition describes the breakdown of the project scope into work packages, and then the work packages are broken down into project activities. Answer option C is incorrect. Phase gates describe the review process associated with the end of project phases.
Answer option A is incorrect. Milestone planning defines the project milestones, not the activities required to reach the milestones.
In which of the following group decision making techniques does the largest block in a group decide the group decision even if a bulk is not achieved?
Correct Answer:
D
The various techniques of group decision making are as follows: Unanimity: In this technique, everyone agrees on a single course of action. Majority: In this technique, more than 50% of the members of the group support the decisions. Plurality: In this technique, the largest block in a group decides even if a bulk is not achieved. Dictatorship: In this technique, one individual makes the decision for the group.
You are the project manager for your organization. You and the project team are developing the project schedule for your current project. In addition to the enterprise environment factors and the organizational process assets, you will need seven other inputs to this process. Which one of the following is NOT an input to the Develop Schedule process?
Correct Answer:
B
Schedule data is an output of the Develop Schedule process. The nine inputs to the Develop Schedule process are: activity list, activity attributes, project schedule network diagrams, activity resource requirements, resource calendars, activity duration estimates, project scope statement, enterprise environmental factors, and organizational process assets.
Answer options C, A, and D are incorrect. These are the inputs to the Develop Schedule process.
Which of the following is NOT an output of the control schedule process?
Correct Answer:
C
The project termination request is not an output of the control schedule. Early termination of a project is a closing process and usually does not stem from the project manager. The outputs of the control schedule process are as follows: Work Performance Measurements: The work packages and control accounts are documented and communicated to the stakeholders. Organizational Process Assets Updates: The assets that are updated are: corrective actions chosen and the reasons, causes of variance, and other types of lessons learned from project schedule control. Change Requests: It is processed for reviews and disposition through the Perform Integrated Change Control process. Project Management Plan Updates: The elements that need to be updated are: schedule baseline, schedule management plan, cost baseline. Project Document Updates: The elements that need to be updated in project document updates are: schedule data and project schedule.
