Monitoring and Controlling - Step 1 - Mod 4

Question 1

Step 1: Work Performance Data

Answer 1

To ensure project will meet objectives, important to analyze work performance data so adjustments can be made to keep project on track.

Question 2

Step 1: Work Performance Data - Steps

Answer 2

1a: Control scope
1b: Control schedule
1c: Control costs
1d. Monitor comms
1e. Control resources
1f. Monitor stakeholder engagement

Question 3

1a: Control Scope

Answer 3

Monitors project and product scope and manages changes to scope baseline. Changes can be expected, which helps manage scope creep.

Question 4

1a: Control Scope - Outputs

Answer 4

Work performance info
Change requests
PMP updates
PD updates

Question 5

1b: Control Schedule

Answer 5

Updates project progress and managed changes to schedule baseline. Allows PM to recognize deviations from PMP so corrective and preventive actions can be implemented.

Question 6

1b: Control Schedule - Outputs

Answer 6

Work performance info
Schedule forecasts
Change requests
PMP updates
PD updates

Question 7

Earned Value Management (EVM)

Answer 7

Combines scope, schedule, resource measurements to assess project performance and progress.
Measures to-complete performance index (TCPI)

Question 8

EVM - Measurements

Answer 8

Three key dimensions for each work package and control account:
Planned value (PV)
Earned value (EV)
Actual cost (AC)

Question 9

EVM - Monitor Variances

Answer 9

Monitors variances from approved baseline:
Schedule variance (SV)
Cost variance (CV)
Schedule performance index (SPI)
Cost performance index (CPI)

Question 10

EVM - Enables Forecasting

Answer 10

Using estimate at completion (EAC) based on budgeted rate, present CPI, and both SPI and CPI factors.

Question 10

EVM - Enables Forecasting

Answer 10

Using estimate at completion (EAC) based on budgeted rate, present CPI, and both SPI and CPI factors.

Question 11

1c. Control Costs

Answer 11

Updates project progress and managed changes to cost baseline. Allows PM to recognize deviations from PMP so corrective and preventive actions can be implemented.

Question 12

1c. Control Costs - Outputs

Answer 12

Work performance info
Cost forecasts
Change requests
PMP updates
PD updates

Question 13

1d. Monitor Communications

Answer 13

Monitors and controls the communications through the project to address the info needs of the stakeholders.

Question 14

1d: Monitor Comms - Outputs

Answer 14

Work performance info
Change requests
PMP updates
PD updates

Question 15

1e: Control Resources

Answer 15

Ensures physical resources allocated to the project are available as planned, properly monitored and controlled, and corrected if there is an issue.

Question 16

1e: Control Resources - Outputs

Answer 16

Work performance info
Change requests
PMP updates
PD updates

Question 17

1f: Monitor Stakeholder Engagement

Answer 17

Monitors overall project stakeholder relationships and adjusts strategies and plans for engaging stakeholders.

Question 18

1f: Monitor Stakeholder Engagement - Outputs

Answer 18

Work performance info
Change requests
PMP updates
PD updates