WGU C722 Project Management - Unit 8 Study
Guide questions with verified answers
____________________ documents the difference between the value of work
completed and the cost of that work. Ans✓✓✓ Cost Variance
---------- is a critical part of the PM process. It is a necessity since no plans and
execution steps are flawless and need no modification. Ans✓✓✓ Monitoring
----------- is an activity that all teams must watch for and be prepared to deal with
when working on projects to insure necessary changes have been evaluated and
approved for modification of the baseline scope. Ans✓✓✓ Scope creep
)ccurs when the project team integrates enhancements to the scope without
proper evaluation and approval. This can result in the team incurring costs or
schedule changes that the customer is unwilling to pay for or may put the project
behind schedule. Ans✓✓✓ Scope Creep
A key operation for the project manager. All the new information and ideas
learned by the team and stakeholders need to be evaluated and resolved.
Resolution can be changed to the current project, held for future projects, set
aside, or any other action the team recommends and the stakeholders approve.
To do this analysis,Evaluate Change Ans✓✓✓ Change Management Process
a measure of how much of the total project work has been completed. While it is
officially called an index, it is actually an estimate of project completeness and is
included as an estimate rather than with the previous efficiency indexes. There
are two methods to calculate this measure depending on whether the original
baseline budget (BAC) is still a realistic goal or whether the recently calculated
estimate at completion (EAC) has become the standard.
, If the original baseline budget stands, then you estimate percent complete using
the Percent Complete Index — Budget (PCIB).
PCIB = EV/BAC Ans✓✓✓ Percent Complete Index (PCIB)
A process to document quality failures that have occurred and how they will be
corrected. The deliverable itself may need to be reworked and the project plan
may need to be revised to ensure that future deliverables do not include the
same error. It is important to address the root cause, not just the symptoms to
avoid a recurring problem. Ans✓✓✓ Corrective Action
A Vendor Closing Checklist helps ensure all requirements laid out in a contract
have been met before paying the bills. Ans✓✓✓ True
A way of verifying that the products and services you ordered were delivered on
time and as ordered Ans✓✓✓ Vendor Closing Checklist
Are previously developed responses to events that may occur during the
execution of the project. Ans✓✓✓ Contingency Plans
Are the data gathering, management, and analytical processes used to predict,
understand, and constructively influence the time and cost outcomes of a project
or program. These controls are exercised through the communication of
information in formats that assist effective management and decision-making.
Ans✓✓✓ Project Controls
Guide questions with verified answers
____________________ documents the difference between the value of work
completed and the cost of that work. Ans✓✓✓ Cost Variance
---------- is a critical part of the PM process. It is a necessity since no plans and
execution steps are flawless and need no modification. Ans✓✓✓ Monitoring
----------- is an activity that all teams must watch for and be prepared to deal with
when working on projects to insure necessary changes have been evaluated and
approved for modification of the baseline scope. Ans✓✓✓ Scope creep
)ccurs when the project team integrates enhancements to the scope without
proper evaluation and approval. This can result in the team incurring costs or
schedule changes that the customer is unwilling to pay for or may put the project
behind schedule. Ans✓✓✓ Scope Creep
A key operation for the project manager. All the new information and ideas
learned by the team and stakeholders need to be evaluated and resolved.
Resolution can be changed to the current project, held for future projects, set
aside, or any other action the team recommends and the stakeholders approve.
To do this analysis,Evaluate Change Ans✓✓✓ Change Management Process
a measure of how much of the total project work has been completed. While it is
officially called an index, it is actually an estimate of project completeness and is
included as an estimate rather than with the previous efficiency indexes. There
are two methods to calculate this measure depending on whether the original
baseline budget (BAC) is still a realistic goal or whether the recently calculated
estimate at completion (EAC) has become the standard.
, If the original baseline budget stands, then you estimate percent complete using
the Percent Complete Index — Budget (PCIB).
PCIB = EV/BAC Ans✓✓✓ Percent Complete Index (PCIB)
A process to document quality failures that have occurred and how they will be
corrected. The deliverable itself may need to be reworked and the project plan
may need to be revised to ensure that future deliverables do not include the
same error. It is important to address the root cause, not just the symptoms to
avoid a recurring problem. Ans✓✓✓ Corrective Action
A Vendor Closing Checklist helps ensure all requirements laid out in a contract
have been met before paying the bills. Ans✓✓✓ True
A way of verifying that the products and services you ordered were delivered on
time and as ordered Ans✓✓✓ Vendor Closing Checklist
Are previously developed responses to events that may occur during the
execution of the project. Ans✓✓✓ Contingency Plans
Are the data gathering, management, and analytical processes used to predict,
understand, and constructively influence the time and cost outcomes of a project
or program. These controls are exercised through the communication of
information in formats that assist effective management and decision-making.
Ans✓✓✓ Project Controls
