6 Integrated Project Control Scenarios Free Online FlashCards

What makes up the scope baseline?

The approved scope statement, work breakdown structure (WBS), and WBS dictionary define the work and deliverables included in the project.

In earned value management, what does planned value (PV) measure?

Planned value (PV) is the budgeted value of work scheduled to be complete by the status date.

What makes a project status report decision-ready?

Separate facts, analysis, forecasts, and decisions required. Include the reporting date and baseline version, performance and risks, and actions with owners, due dates, and measurable results.

How does a variance differ from a change request?

A variance is a difference between actual performance and the approved plan; it does not authorize a new plan. A change request proposes modifying an approved baseline or other controlled project element.

How do corrective and preventive actions differ?

A corrective action addresses an existing performance problem; a preventive action reduces the likelihood or impact of a future problem.

How is cost variance calculated, and what does a negative value mean?

Cost variance is calculated as $CV = EV - AC$. A negative CV means the completed work cost more than its budgeted value.

Why does schedule variance not directly show calendar delay?

Schedule variance is $SV = EV - PV$, expressed in budget units rather than calendar time. Check the schedule and critical path to assess time impact.

What does a cost performance index below 1.0 indicate?

The cost performance index is $CPI = EV / AC$. A value below $1.0$ indicates unfavorable cost efficiency.

What assumption underlies the simple EAC forecast using CPI?

If current cost efficiency is assumed to continue, estimate $EAC = BAC / CPI$. This is a forecast under an assumption, not an approved budget change.

What should the team do when a recorded project risk occurs?

Treat the event as an issue while tracking any remaining risk. Confirm impacts, implement the authorized response, update forecasts and risk/issue records, and escalate decisions beyond the project manager’s authority.

What is the cost baseline, and how does management reserve relate to it?

It is the approved, time-phased budget for authorized work. Management reserve may be included in the total authorized budget but is not part of the performance measurement baseline.

Why link scope, schedule, and budget through the WBS?

Link scope, schedule, and budget through the WBS and assigned responsibility so that status or a proposed change can be traced to the affected work package.