BUS 419 Strayer Calculate Cost Variance for The Given Cumulative Earned Value Ques

QUESTION 1

1. If the total slack for a project is 4 days, this means

   	a.	the activities on the path must be accelerated by four days for the project to be completed on time.
   	b.	all the activities must be accelerated by four days for the project to be completed on time.
   	c.	the activities on the path can be delayed a total of four days and the project still could be completed on time.
   	d.	all the activities can be delayed by four days and the project still be completed on time.

4 points

QUESTION 2

1. The development team develops, delivers, and demonstrates ____ during a sprint.

   	a.	working product increments
   	b.	only those products not contracted yet
   	c.	final team presentations and meeting agendas
   	d.	the entire product

4 points

QUESTION 3

1. The earliest finish time for an activity

   	a.	is calculated by adding the activity’s estimated duration to its earliest start time.
   	b.	should not be delayed or would cause the project to be delayed.
   	c.	is dependent upon the start time of its successor activities.
   	d.	is the same as the earliest start time of the activity’s predecessor.

4 points

QUESTION 4

1. The ____ time is the shortest estimated length of time in which the activity can be completed.

   	a.	crash
   	b.	level
   	c.	normal
   	d.	flash

4 points

QUESTION 5

1. During which phase of the SDLC does the development team define the scope of the system to be developed, interview potential users, study the existing system, and define user requirements?

   	a.	System design
   	b.	System development
   	c.	System analysis
   	d.	Problem definition

4 points

QUESTION 6

1. The estimated duration for each activity is indicated by a bar spanning the period

   	a.	during which the activity is expected to be accomplished.
   	b.	during which the activity has waiting time for the activity to be accomplished.
   	c.	during which the project is expected to be accomplished.
   	d.	of the part of the activity that has more than one work resource assigned.

4 points

QUESTION 7

1. The activity bars in a bar chart are drawn in proportion to

   	a.	the amount of slack for each activity.
   	b.	the estimated durations of each activity.
   	c.	the cost of the activity.
   	d.	the number of resources assigned to the activity.

4 points

QUESTION 8

1. Which of the following is likely not to be a process in a project management information system?

   	a.	Create charges for resources.
   	b.	Level or smooth the resources automatically.
   	c.	Use the nine-step problem solving method in the system.
   	d.	Test resolutions to any scheduling conflicts.

4 points

QUESTION 9

1. Resource utilization charts based on each activity’s earliest start time are said to be based on an ____ schedule.

   	a.	as-soon-as-possible
   	b.	as-needed
   	c.	as-flexible-as-possible
   	d.	as-late-as-possible

4 points

QUESTION 10

1. Resource requirements graphs based on an as-late-as-possible schedule are drawn

   	a.	based on each activity’s latest start time.
   	b.	based on each activity’s latest finish time.
   	c.	based on each activity’s earliest start time
   	d.	based on each activity’s earliest finish time.

4 points

QUESTION 11

1. ___ is a method for developing the shortest schedule when the number or amount of available resources is fixed.

   	a.	Resource limited scheduling
   	b.	Resource leveling
   	c.	Resource monitoring
   	d.	Resource evaluation scheduling

4 points

QUESTION 12

1. Resource leveling, or smoothing, is a method for

   	a.	making sure all the resources do the same amount of work.
   	b.	extending the project to have the least number of resources used per day.
   	c.	making sure every task has the same number of resources.
   	d.	developing a schedule that attempts to minimize the fluctuations in requirements for resources.

4 points

QUESTION 13

1. In ____, when several activities need the same limited resource at the same time, the activities with the least slack have first priority.

   	a.	resource limited scheduling
   	b.	resource leveling
   	c.	resource evaluation scheduling
   	d.	resource monitoring

4 points

QUESTION 14

1. Resource-limited scheduling is a method for

   	a.	developing a schedule that attempts to minimize the fluctuations in requirements for resources.
   	b.	developing the shortest schedule when the number or amount of available resources is fixed and cannot be exceeded.
   	c.	making sure all the resources do the same amount of work.
   	d.	making sure every task has the same number of resources.

4 points

QUESTION 15

1. Resource leveling uses a trial-and-error method to test delaying

   	a.	all critical activities
   	b.	only non-critical activities with positive slack
   	c.	all non-critical activities
   	d.	all activities with a positive slack

4 points

QUESTION 16

1. Calculate the forecasted cost at completion if the total budgeted cost = $10,000, the CEV is $8,000, and the CAC is $4,000.

   	a.	FCAC = $20,000
   	b.	FCAC = $4,000
   	c.	FCAC = $6,000
   	d.	FCAC = $5,000

3 points

QUESTION 17

1. It may be easier to estimate the costs for ____, but as the project progresses, the project team can progressively elaborate the estimated costs as more information is known or becomes clear to allow for more accurate estimated costs.

   	a.	near-term activities
   	b.	new activities with new procedures
   	c.	activities with long durations
   	d.	activities near the end of the project

3 points

QUESTION 18

1. Once a total budgeted cost has been established for each work package, the second step in the project budgeting process is to

   	a.	assign each TBC at the end of its work package.
   	b.	assign each TBC at the start of its work package.
   	c.	distribute each TBC over the duration of its work package.
   	d.	distribute each TBC over the project by dividing the total by the number of work packages and assigning that amount to each.

3 points

QUESTION 19

1. Earned value, the value of ____, is a key parameter that must be determined throughout the project.

   	a.	the work scheduled
   	b.	the work actually performed
   	c.	the resources assigned
   	d.	the resources used

3 points

QUESTION 20

1. Calculate the cost variance if the cumulative earned value is $10 and the cumulative actual costs are $20.

   	a.	$10
   	b.	2.0
   	c.	0.5
   	d.	-$10

3 points

QUESTION 21

1. This involves taking action to reduce the likelihood that the risk event will occur or reducing the potential impact.

   	a.	Mitigating the risk
   	b.	Accepting the risk
   	c.	Avoiding the risk
   	d.	Risk identification

3 points

QUESTION 22

1. A good forum for regularly reviewing, updating, and addressing risks is

   	a.	phone conversation with project stakeholders.
   	b.	project meeting.
   	c.	the meeting for addressing the risk after it has occurred.
   	d.	during social events to get inside information from others.

3 points

QUESTION 23

1. To be able to communicate risks to the contractor, sometimes a sponsor identifies major risks for the project in

   	a.	the project evaluation meeting.
   	b.	the lessons learned after the project.
   	c.	the project charter when the project is authorized.
   	d.	the contract for service.

3 points

QUESTION 24

1. When assigning responsibility for a risk, it is best to

   	a.	assign responsibility to the project team.
   	b.	assign responsibility to more than one person.
   	c.	not assign responsibility to those risks with low risk of occurrence.
   	d.	assign responsibility to a single person.

3 points

QUESTION 25

1. A contingency or management reserve to pay for additional costs associated with implementing response plans should be

   	a.	absorbed as a cost of doing business.
   	b.	requested to be paid by the project sponsor in addition to the costs of doing the project.
   	c.	planned into the project prices and budgets.
   	d.	added to the budget of the next project with the same sponsor.