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  • For problems 2, 3, 4, 5, 6, 7, 11, 12, and 16: Show the calculations to your answers in full. Show which earned value management (EVM) formula you selected and how you calculated your math (i.e., show your step-by-step calculations).
  • For problems 1, 8, 9, 10, 13, 14, 15, and 17: Show the calculations to your answers in full. Furthermore, analyze and explain the implication or impact of using the formula and the meaning of the metrics with 2–5 sentences each for these 8 problems. For example, what do the EVM calculations indicate with respect to the performance of the project or program? That is, what is the significance of your calculation with respect to program metrics?

1. In earned value measurement, earned value is represented by:

1. BCWS

2. BCWP

3. ACWP

4. None of the above

2. If BCWS = 1000, BCWP = 1200, and ACWP = 1300, the project is:

1. Ahead of schedule and under budget

2. Ahead of schedule and over budget

3. Behind schedule and over budget

4. Behind schedule and under budget

3. If BAC = $20,000 and the project is 40 percent complete, then the earned value is:

1. $5,000

2. $8,000

3. $20,000

4. Cannot be determined

4. If BAC = $12,000 and CPI = 1.2, then the variance at completion is:

1. –$2,000

2. +2,000

3. –$3,000

4. +$3000

5. If BAC = $12,000 and CPI = 0.8, then the variance at completion is:

1. –$3,000

2. +$2,000

3. –$3,000

4. $3,000

6. If BAC for a work package is $10,000 and BCWP = $4,000, then the work package is:

1. 40 percent complete

2. 80 percent complete

3. 100 percent complete

4. 120 percent complete

7. If CPI = 1.1 and SPI = 0.95, then the trend for the project is:

1. Running over budget but ahead of schedule

2. Running over budget but behind schedule

3. Running under budget but ahead of schedule

4. Running under budget but behind schedule

8. The document that describes a work package, identifies the cost centers allowed to charge against this work package, and establishes the charge number for this work package is the:

1. Code of accounts

2. Work breakdown structure

3. Work authorization form

4. None of the above

9. Unknown problems such as escalation factors are often budgeted for using the:

1. Project manager’s charge number

2. Project sponsor’s charge number

3. Management reserve

4. Configuration management cost account

10. EAC, ETC, SPI, and CPI most often appear in which type of report?

1. Performance

2. Status

3. Forecast

4. Exception

11. If BAC 5 $24,000, BCWP 5 12,000, ACWP 5 $10,000, and CPI 5 1.2, then the cost that remains to finish the project is:

1. $10,000

2. $12,000

3. $14,000

4. Cannot be determined

12. There are several purposes for the 50–50 rule, but the primary purpose of the 50–50 rule is to calculate:

1. BCWS

2. BCWP

3. ACWP

4. BAC

13. When a project is completed, which of the following must be true?

1. BAC = ACWP

2. ACWP = BCWP

3. SV = 0

4. BAC = ETC

14. In March CV = –$20,000, and in April CV = –$30,000. In order to determine whether or not the situation has really deteriorated because of a larger unfavorable cost variance, we would need to calculate:

1. CV in percent

2. SV in dollars

3. SV in percent

4. All of the above

15. If a project manager is looking for revenue for a value-added scope change, the project manager’s first choice would be:

1. Management reserve

2. Customer-funded scope change

3. Undistributed budget

4. Retained profits

16. A project was originally scheduled for 20 months. If CPI is 1.25, then the new schedule date is:

1. 16 months

2. 20 months

3. 25 months

4. Cannot be determined

17. The cost or financial baseline of a project is composed of:

1. Distributed budget only

2. Distributed and undistributed budgets only

3. Distributed budget, undistributed budget, and the management reserve only

4. Distributed budget, undistributed budget, management reserve, and profit only

ANSWERS

1. B

2. B

3. B

4. B

5. C

6. A

7. D

8. C

9. C

10. C

11. A

12. B

13. C

14. A

15. B

16. D

17. B

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