INF 337 week 3 QUIZ

 1.	Question :	A formal financial review process is always necessary, even when a PM uses project cost control because of the many uncertainties with cost control.

 	

Question 2.	Question :	The 50/50 rule is used for packages with a very long duration.

 	
Question 3.	Question :	In the time - cost analysis, the relationship between time and money generally has what shape on a graph?




 	

Question 4.	Question :	The following is the cost of all progress achieved on the project, or part of the project, and represents what has been spent.

 	


 	

Question 5.	Question :	The Estimated Cost at completion is the sum of the costs incurred to date and the revised estimated costs for the work remaining. It is computed by the formula BAC/CPI.

 

Question 6.	Question :	Which of the following is the first step in measuring and monitoring progress and performance?

 	



 	

Question 7.	Question :	A project variance can only be a positive number.

 	

Question 8.	Question :	Earned value describes what has been earned, not simply what has been spent.

 	

Question 9.	Question :	A project variance can either be a positive or a negative number.



Question 10.	Question :	AC is the sum of the costs incurred to date and the revised estimated costs for the work remaining.