Monitoring And Controlling

Question 0

Calculate CV and SV

Answer 0

Cost variance (CV) = earned value (EV) - actual cost (AC)
Scheduled variance (SV) = earned value (EV) - planned value (PV)

Question 1

Change tracking and log

Answer 1

A spreadsheet that lists the baseline cost identified in the project plan dated and identifies any additions and changes which result from project execution.

Question 2

Calculate CPI and SPI

Answer 2

Cost performance index (CPI) = earned value (EV)/actual cost (AC)
Scheduling performance index (SPI) = earned value (EV)/planned value (PV)

Question 3

When calculating CPI and SPI describe the meaning of the index values

Answer 3

CPI. SPI
>1. Under cost. Ahead of schedule
=1. On cost. On schedule
<1. Over cost. Behind schedule

Question 4

Calculate ETC

Answer 4

Estimate to completion (ETC) = work remaining (BAC - EV)/CPI

ETC = EAC - AC

Question 5

calculate EAC

Answer 5

Estimate at completion (EAC) = BAC/CPI

EAC = ETC + AC

Question 6

What does BAC mean? What is the equeation?

Answer 6

Total budget of the baseline

BAC = original / planned budget at completion

Question 7

Closing reports

Answer 7

Final report
Post mortem/ lessons learned
Outcomes management report