PMT 352B Exam 4 Study Notes (All Correct)

Earned Value Management (EVM) is an ________ process in the management and oversight of acquisition programs correct answers integrating The PM's approach to satisfying EVM requirements should be documented in the program _________ correct answers acquisition strategy (AS) __________ is one of the Department's most powerful program management tools since it integrates the cost, schedule, and technical performance of a program correct answers Earned Value Management (EVM) The _______ combines the Contract Performance Report (CPR) and Integrated Master Schedule (IMS) into a single integrated report to be consistent with good, disciplined program management correct answers Integrated Program Management Report (IPMR) Data Item Description (DID) This EVM term represents "Earned Value" or the value of the work accomplished in relation to the PMB correct answers Budgeted Cost of Work Performed (BCWP) This EVM term represents the actual cost of the work accomplished correct answers Actual Cost of Work Performed (ACWP) BCWP - ACWP correct answers Cost Variance (CV) BCWP - BCWS correct answers Schedule Variance (SV) BCWP / ACWP correct answers Cost Performance Index (CPI) BCWP / BCWS correct answers Schedule Performance Index (SPI) Actuals to date + Work Remaining / Efficiency Factor correct answers Estimate at Complete (EAC) This EAC formula tends to be the optimistic estimate correct answers Cumulative CPI method This EAC formula tends to be the pessimistic estimate correct answers Composite CPI method (CPI x SPI) Management Reserve (MR) is not part of the PMB until _______ correct answers it is "used" An Integrated Baseline Review (IBR) should be conducted within ___ months of contract award correct answers 6 You should conduct one of these within 6 months of contract award to identify and quantify cost, schedule, and technical risks correct answers Integrated Baseline Review (IBR)