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17 Cards in this Set
- Front
- Back
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Very short work packages would be better managed by: |
the 0/100 rule |
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Your organization is in the midst of a project in uncharted waters; nothing you have attempted before comes close to many of the activities that are necessary to bring this project to completion. Your earned value management should probably be tracked closely with a percentage complete rule in increments of 5 to 10 percent. |
False |
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What are the problems with milestones as a project control mechanism? |
they are a reactive control system, missing a milestone can be detrimental and delay it further |
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Measurement mechanisms should include a clear definition of |
what to measure |
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The data collected from the various evaluation and control techniques represents important ________ measures of the project. |
outcomes |
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Can earned value be used to manage a portfolio of projects? If so, how would this analysis proceed |
Earned value management can indeed be used at the portfolio level. The process involves the aggregation of all earned value measures across the firm's entire project portfolio in order to give an indication as to the efficiency with which a company is managing its projects. Each project is described by its own EVM calculations and these calculations are rolled up into an overall portfolio number that reflects schedule and cost variance and estimated completion costs. |
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Take the factors considered by earned value analysis and subtract those considered by project S-curves. The factor(s) you have remaining are |
performance |
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Gap analysis refers to any measurement process that first determines the goals and then the degree to which the actual performance lives up to those goals |
true |
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earned value |
the real budgeted value of the work that has actually been performed to date |
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Once an activity has been started, it is immediately valued at 50% completed under the |
50/50 rule |
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A tracking Gantt chart does NOT allow for |
future projections of the project's status. |
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Project control should be |
tailored to the needs and culture for which an organization intends it |
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A project manager needs the work breakdown structure and a time-phased project budget to establish the project baseline |
true |
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The concept of ________ refers to the amounts of individual resources that a schedule requires during specific time periods |
resource loading |
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The best method for establishing the existence of resource conflicts across project activities uses |
resource loading charts |
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In-process inventory represents the amount of work waiting to be completed but delayed due to unavailable resources. |
true |
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Mathematical programming is sometimes used to generate optimal solutions to resource constrained problems in a multi-project setting but suffers from |
problem complexity |
