ACQ 202 Module 4 Exam: Part II questions with correct answers

What does it mean if a project has a Percent Spent of 90%, Percent Scheduled of 85% and Percent Complete of 95%? - Answer The project is in good shape and should early and within budget. Your program is liable for payment on good and services received under a contract. Your payment, based on a submitted invoice, for all or part of this obligation is a(n) __________. - Answer Expenditure Which of the following is a valid reason for rebaselining the Performance Measurement Baseline (PMB)? - Answer The plan for completing the remaining contract effort is no longer achievable. Which of the following test items are determined by the Program Management office that is developing a system? - Answer Critical Technical Parameters (CTPs). With modeling and simulation, we model the system and then test the _________ to gather test predictions. - Answer Model. The following data is received from contractor: Budgeted Cost of Work Perform (BCWP) = $300 Cost Performance Index (CPI) = 1.2 Budgeted Cost of Work Scheduled (BCWS) = $400 Schedule Performance Index (SPI) = 0.75 Actual Cost of Work Performed (ACWP) = $250 Budget at Completion (BAC) = $1,000 Contractor's Latest Revised Estimate = $1,000 Equation for Estimate at Completion (EAC) Low = ACWP + ((BAC-BCWP)/(CPI)) Equation for EAC High = ACWP+((BAC-BCWP)/(CPI*SPI) Which of the following represents the most reasonable EAC range for these data based on EVM? - Answer EAC Low: $833 - EAC High: $1,028