Monitor and Control Project Work

Question 1

What is the purpose of the Monitor and Control Project Work process?

Answer 1

To track, review and report the progress to meet the performance objectives defined in the project management plan.

Question 2

What is Estimate at Completion (EAC)?

Answer 2

Updated forecast of what you believe you will spend in total upon the project’s completion. Ideally it will be no higher than the original Cost Baseline.

Question 3

What is Schedule Forecast and examples?

Answer 3

Derived from progress against the schedule baseline and computed time estimates to complete (ETC). i.e. Schedule Variance (SV) and Schedule Performance Index (SPI).

Question 4

What is Cost Forecast and examples?

Answer 4

Derived from progress against cost baseline and computed ETC. i.e. Cost Variance (CV) and Cost Performance Index (CPI)

Question 5

What is Schedule Variance?

Answer 5

Shows the difference between what we have actually achieved (Earned Value) and what we planned to achieve at a given point in time (Planned Value).

Question 6

What are the inputs of the Monitor and Control Project Work process?

Answer 6

Project Management Plan, Schedule Forecast, Cost Forecast, Validated Changes, EEFs, OPAs