Chapter 13

Question 1

Projects run late and over project, what are requierments do deal with it?

Answer 1

DDMMI

Define characteristics of importance
Define limits to their variation
Measure the characteristics
Making progress visible & Feedback
Instituting corrective action

pp. 316-320

Question 2

What are examples of visual control systems?

Answer 2

Gantt chart
Traffic lights
Information boards
etc

pp. 326

Question 3

What are the performances?

Answer 3

Cost performance indicator = earned value /actual spend

Schedule performance indicator = earned value/planned spend

Question 4

What are the predictions?

Answer 4

Estimated cost at completion = Original budget / cost performance indicator

Estimated time of completion = original time estimate/schedule performance indicator

Question 5

What are the variances?

Answer 5

Cost variance = Earned value - actual spend

Schedual variance = Earned value - planned spend

Question 6

What is earned value?

Answer 6

The value of the budgeted version of how many activities that has been completed

Question 7

What is planned spend?

Answer 7

The amount of budgeted money at the point where a certain amount of activities should be finished.

Question 8

What is the technique earned value?

Answer 8

Brings together time and cost performance into a monetary quantity