Trivia Quiz On Earned Value Management!

13 Questions | Total Attempts: 57

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Trivia Quiz On Earned Value Management!

When it comes to project management, a manager needs to ensure that what was planned was achieved at the desired time. The earned value management concept best explains this rule. Think that you understood the concept entirely? The best way to test yourself is by using this challenging quiz. Try it out and see what more you might learn!


Questions and Answers
  • 1. 
    LOE stands for what
    • A. 

      Lost Over Estimate

    • B. 

      Level Over Effort

    • C. 

      Level Of Effort

    • D. 

      Last Of Effort

  • 2. 
    Control Account Plan (CAP) has how many Elements?
    • A. 

      6

    • B. 

      7

    • C. 

      8

    • D. 

      9

  • 3. 
    Can Earned Value Management be used in Procurements?
    • A. 

      True

    • B. 

      False

  • 4. 
    Which of these steps is not used for employing earned value on project procurements?
    • A. 

      Continue Scope defintion to inclcude make or buy analysis

    • B. 

      Time phase a project procurement baseline

    • C. 

      Place all procurements into four generic categories

    • D. 

      Forcast final costs (EAC)

    • E. 

      Measuare actual earned value performance, estimate actual costs

  • 5. 
    The Three Categories are:
    • A. 

      Major (High Risk)

    • B. 

      Minor (Low Risk)

    • C. 

      Routine

    • D. 

      Semi-Routine

    • E. 

      Almost-Routine

  • 6. 
    CPM stands for what?
    • A. 

      Critical Path Method

    • B. 

      Critical Path Measure

    • C. 

      Cost Per Measure

    • D. 

      Cost Per Method

  • 7. 
    What went wrong: Budget:$120 - 10 units x $12/unit Actuals:$192 - 12 unit x $16/unit What caused the overrun?
    • A. 

      Price: -$24, Usage -$48

    • B. 

      Price: $48, Usage: -$24

    • C. 

      Price: -$48, Usage: $24

    • D. 

      Price: -$48, Usage: -$24

    • E. 

      Price: $24, Usage: $48

  • 8. 
    One fundamental problem with project baselines is what?
    • A. 

      The authorized budget is too high.

    • B. 

      Not enough tasks.

    • C. 

      The authorized budget is too low.

    • D. 

      The authorized work does not exist.

  • 9. 
    Can a budget be frontloaded?
    • A. 

      No

    • B. 

      Yes

  • 10. 
    Variance at Completion.  Is it also know as to what?
    • A. 

      EAC - BAC

    • B. 

      CPI

    • C. 

      VAC

    • D. 

      BAC - EAC

    • E. 

      SPI

  • 11. 
    SPI is calculated how?
    • A. 

      EV/PE

    • B. 

      EV/PN

    • C. 

      EV/AC

    • D. 

      EV/PV

    • E. 

      PV/EV

  • 12. 
    Mark all that apply for forecasting.
    • A. 

      Estimate At Completion (EAC)

    • B. 

      Overrun-to-Date

    • C. 

      CPI time PMI

  • 13. 
    TCPI (BAC)
    • A. 

      Work Remaining (BAC - EV)/ Funds Remaining (BAC - AD)

    • B. 

      Work Remaining (BAC - EV)/ Funds Remaining (BAC - AC)

    • C. 

      Work Remaining (BAC - PV)/ Funds Remaining (BAC - AC)