BSIS FINAL EXAM QUESTIONS &
COMPLETE CORRECT RATIONALE
100%
A _________ describes the present state of the project and provides compares the
project's actual progress to the baseline plan.
a. Budget report
b. Status report
c. Progress report
d. Forecast report
e. News report - Correct Answer ✔✔ b
Schedule Variance (SV) is __________
a. how much time it took to complete the work
b. how long we expected the task to take
c. how much time we have left to complete the project
d. how much time it should have taken to complete the task
e. the difference between the current progress and the original schedule - Correct
Answer ✔✔ e
The budgeted cost of work scheduled for an activity or component of the WBS is the
_____.
a. Planned Value (PV)
b. Budget At Completion (BAC)
c. Actual Cost (AC)
d. Expected Time Complete (ETC)
e. Estimate at Completion (EAC) - Correct Answer ✔✔ a
A cost variance (CV) can be positive or negative, but never zero. - Correct Answer ✔✔
false
Which of the following is not likely a characteristic of a good project metric?:
a. Understandable
b. Quantifiable
c. Cost Effective
d. Subjective
e. High Impact - Correct Answer ✔✔ d
A metric that provides an estimate for completing the scheduled work that remains once
the project is started is called the:
a. Planned Value (PV)
b. Budget At Completion (BAC)
,c. Actual Cost (AC)
d. Expected Time Complete (ETC)
e. Estimate at Completion (EAC) - Correct Answer ✔✔ d
Actual Cost (AC) is __________
a. how much we actually spent for work completed
b. how much we budgeted to spend at the beginning of the project
c. how much of the budget we have left to spend on the project
d. how much of the budget we really should have spent on the work completed so far
e. None of these - Correct Answer ✔✔ a
Generally, the more metrics one adopts, the greater the project control. - Correct
Answer ✔✔ false
The Expected Time Complete (ETC) provides an estimate for completing the scheduled
work that remains. - Correct Answer ✔✔ true
The cost incurred for completing a scheduled task or WBS component is the
a. Planned Value (PV)
b. Budget At Completion (BAC)
c. Actual Cost (AC)
d. Expected Time Complete (ETC)
e. Estimate at Completion (EAC) - Correct Answer ✔✔ c
Earned Value-Actual Cost =
a. Cost performance index (CPI)
b. Scheduled performance index (SPI)
c. Cost Variance (CV)
d. Minimum funds needed (MFN)
e. None of these - Correct Answer ✔✔ c
Information distribution includes all of the following EXCEPT:
a. Face-To-Face Meetings
b. Telephone, e-mail, and other wireless devices
c. Web-based technologies
d. None of these are examples of information distribution
e. All of these are examples of information distribution - Correct Answer ✔✔ e
Estimate at Completion (EAC) is __________
a. how much we actually spent for work completed
b. how much we budgeted to spend at the beginning of the project
c. how much of the budget we have left to spend on the project
d. how much of the budget we really should have spent on the work completed so far
e. how much we spent to complete the project - Correct Answer ✔✔ e
, If a stakeholder has been judged too adversarial and having a vested interest in the
failure of your project, it would probably be wise to keep him/her out of the
communication loop. - Correct Answer ✔✔ false
A project metric should be obtained from observable, quantifiable data that allows the
team and other stakeholders to gauge the efficiency and effectiveness of the work being
done. - Correct Answer ✔✔ true
Budget At Completion (BAC) is __________
a. how much we actually spent for work completed
b. how much we budgeted to spend at the beginning of the project
c. how much of the budget we have left to spend on the project
d. how much of the budget we really should have spent on the work completed so far
e. None of these - Correct Answer ✔✔ b
Cost Variance (CV) is __________
a. how much we actually spent for work completed
b. how much we budgeted to spend at the beginning of the project
c. how much of the budget we have left to spend on the project
d. how much of the budget we really should have spent on the work completed so far
e. the difference between the estimated cost and how much we have actually spent -
Correct Answer ✔✔ e
A _________ is a formal or informal meeting that shows evidence of project work that
has been completed and work and provides a forum for surfacing issues, problems,
decision-making.
a. Budget report
b. Project review
c. Progress report
d. Forecast report
e. News report - Correct Answer ✔✔ b
Given the advances that have been made in telecommunications and IT technology in
general, there is little value or necessity today for Face-to-Face (F2F) meetings. -
Correct Answer ✔✔ false
Barring a change in project scope and given a Schedule Performance Index (SPI) that
is greater than 1, the most reasonable inference to draw is that:
a. The project will likely finish earlier than planned.
b. The project will likely finish later than planned.
c. The project will likely cost more than planned.
d. The project will likely cost less than planned.
e. The project will likely be on time and on budget. - Correct Answer ✔✔ c
The project manager must have a clear picture of how the actual progress or work
compares to the baseline plan in order to make well-informed decisions, take
COMPLETE CORRECT RATIONALE
100%
A _________ describes the present state of the project and provides compares the
project's actual progress to the baseline plan.
a. Budget report
b. Status report
c. Progress report
d. Forecast report
e. News report - Correct Answer ✔✔ b
Schedule Variance (SV) is __________
a. how much time it took to complete the work
b. how long we expected the task to take
c. how much time we have left to complete the project
d. how much time it should have taken to complete the task
e. the difference between the current progress and the original schedule - Correct
Answer ✔✔ e
The budgeted cost of work scheduled for an activity or component of the WBS is the
_____.
a. Planned Value (PV)
b. Budget At Completion (BAC)
c. Actual Cost (AC)
d. Expected Time Complete (ETC)
e. Estimate at Completion (EAC) - Correct Answer ✔✔ a
A cost variance (CV) can be positive or negative, but never zero. - Correct Answer ✔✔
false
Which of the following is not likely a characteristic of a good project metric?:
a. Understandable
b. Quantifiable
c. Cost Effective
d. Subjective
e. High Impact - Correct Answer ✔✔ d
A metric that provides an estimate for completing the scheduled work that remains once
the project is started is called the:
a. Planned Value (PV)
b. Budget At Completion (BAC)
,c. Actual Cost (AC)
d. Expected Time Complete (ETC)
e. Estimate at Completion (EAC) - Correct Answer ✔✔ d
Actual Cost (AC) is __________
a. how much we actually spent for work completed
b. how much we budgeted to spend at the beginning of the project
c. how much of the budget we have left to spend on the project
d. how much of the budget we really should have spent on the work completed so far
e. None of these - Correct Answer ✔✔ a
Generally, the more metrics one adopts, the greater the project control. - Correct
Answer ✔✔ false
The Expected Time Complete (ETC) provides an estimate for completing the scheduled
work that remains. - Correct Answer ✔✔ true
The cost incurred for completing a scheduled task or WBS component is the
a. Planned Value (PV)
b. Budget At Completion (BAC)
c. Actual Cost (AC)
d. Expected Time Complete (ETC)
e. Estimate at Completion (EAC) - Correct Answer ✔✔ c
Earned Value-Actual Cost =
a. Cost performance index (CPI)
b. Scheduled performance index (SPI)
c. Cost Variance (CV)
d. Minimum funds needed (MFN)
e. None of these - Correct Answer ✔✔ c
Information distribution includes all of the following EXCEPT:
a. Face-To-Face Meetings
b. Telephone, e-mail, and other wireless devices
c. Web-based technologies
d. None of these are examples of information distribution
e. All of these are examples of information distribution - Correct Answer ✔✔ e
Estimate at Completion (EAC) is __________
a. how much we actually spent for work completed
b. how much we budgeted to spend at the beginning of the project
c. how much of the budget we have left to spend on the project
d. how much of the budget we really should have spent on the work completed so far
e. how much we spent to complete the project - Correct Answer ✔✔ e
, If a stakeholder has been judged too adversarial and having a vested interest in the
failure of your project, it would probably be wise to keep him/her out of the
communication loop. - Correct Answer ✔✔ false
A project metric should be obtained from observable, quantifiable data that allows the
team and other stakeholders to gauge the efficiency and effectiveness of the work being
done. - Correct Answer ✔✔ true
Budget At Completion (BAC) is __________
a. how much we actually spent for work completed
b. how much we budgeted to spend at the beginning of the project
c. how much of the budget we have left to spend on the project
d. how much of the budget we really should have spent on the work completed so far
e. None of these - Correct Answer ✔✔ b
Cost Variance (CV) is __________
a. how much we actually spent for work completed
b. how much we budgeted to spend at the beginning of the project
c. how much of the budget we have left to spend on the project
d. how much of the budget we really should have spent on the work completed so far
e. the difference between the estimated cost and how much we have actually spent -
Correct Answer ✔✔ e
A _________ is a formal or informal meeting that shows evidence of project work that
has been completed and work and provides a forum for surfacing issues, problems,
decision-making.
a. Budget report
b. Project review
c. Progress report
d. Forecast report
e. News report - Correct Answer ✔✔ b
Given the advances that have been made in telecommunications and IT technology in
general, there is little value or necessity today for Face-to-Face (F2F) meetings. -
Correct Answer ✔✔ false
Barring a change in project scope and given a Schedule Performance Index (SPI) that
is greater than 1, the most reasonable inference to draw is that:
a. The project will likely finish earlier than planned.
b. The project will likely finish later than planned.
c. The project will likely cost more than planned.
d. The project will likely cost less than planned.
e. The project will likely be on time and on budget. - Correct Answer ✔✔ c
The project manager must have a clear picture of how the actual progress or work
compares to the baseline plan in order to make well-informed decisions, take
