Preview Extract
Chapter 9 Resources, Costing, and Control
9.1 True False
1) Identifying new risks is associated with monitoring and controlling a project.
Answer: True
Rationale:
Monitoring and controlling a project involves tracking the project's performance and
managing changes. As part of this process, project managers need to identify new risks that
may arise during the project's execution, as these risks can impact the project's objectives and
outcomes.
2) Corrective actions and preventive measures can bring a project back into compliance with
the project management plan.
Answer: True
Rationale:
Corrective actions are taken to address issues that have already occurred and are deviating
from the project management plan. Preventive measures, on the other hand, are proactive
steps taken to avoid potential issues. Both corrective actions and preventive measures are
essential for bringing a project back into compliance with the project management plan.
3) Resource allocation adjustments become less expensive later on in a project.
Answer: False
Rationale:
Resource allocation adjustments can become more expensive later on in a project due to
various factors such as increased costs for hiring resources, overtime expenses, or penalties
for delays. It is generally more cost-effective to address resource allocation issues earlier in
the project.
4) Management plan updates are inputs to project control.
Answer: False
Rationale:
Management plan updates are outputs of the project control process, not inputs. Project
control involves comparing actual performance against the planned performance and taking
corrective actions as necessary. The updates to the management plan reflect changes made to
the project's scope, schedule, or resources based on the control process.
5) Baseline management focuses on identifying, evaluating, documenting, and managing
changes.
Answer: False
Rationale:
Baseline management refers to the process of establishing a baseline, which is a fixed
reference point used for comparing actual performance against planned performance. It
involves setting the initial project scope, schedule, and cost baselines and managing changes
to these baselines through the change control process.
6) Cost is one of the major factors in a project's success.
Answer: True
Rationale:
Cost is a critical factor in determining the success of a project. Projects must be completed
within budget to be considered successful. Cost overruns can lead to project delays, reduced
scope, or even project failure.
7) Project costs do not contribute to the profit of an organization.
Answer: False
Rationale:
Project costs directly impact the profit of an organization. If a project is completed within
budget, it can contribute to the organization's profit. However, if a project incurs cost
overruns, it can reduce the organization's profit margins.
8) Sunk costs are entirely linked to the production of the final product.
Answer: False
Rationale:
Sunk costs are costs that have already been incurred and cannot be recovered, regardless of
the project's outcome. While some sunk costs may be related to the production of the final
product, they can also include costs incurred for other project activities such as planning,
design, or testing.
9) In a software project, the cost of designers, developers, and testers are examples of indirect
costs.
Answer: False
Rationale:
In a software project, the cost of designers, developers, and testers would typically be
considered direct costs, as these costs can be directly attributed to the project. Indirect costs,
on the other hand, are costs that are not directly attributable to a specific project but are
incurred for the benefit of multiple projects or the organization as a whole.
10) Office supplies, telephone, and utilities are examples of direct costs.
Answer: False
Rationale:
Office supplies, telephone, and utilities would typically be considered indirect costs in a
project, as these costs are not directly attributable to the specific project but are incurred for
the benefit of multiple projects or the organization as a whole. Direct costs are costs that can
be directly attributed to a specific project, such as labor or materials.
11) Losses of productivity and customer goodwill are examples of tangible costs.
Answer: False
Rationale:
Losses of productivity and customer goodwill are examples of intangible costs, as they are
difficult to quantify in monetary terms and do not have a physical or tangible presence.
12) An indirect cost rate is the percentage of a project's indirect costs to its direct costs and is
a standardized method of charging individual projects for their share of indirect costs.
Answer: True
Rationale:
An indirect cost rate is used to allocate indirect costs to individual projects based on their
direct costs. It is calculated as the percentage of indirect costs to direct costs and is a
standardized method used in cost accounting.
13) Estimating is the process of determining the cost of a project.
Answer: True
Rationale:
Estimating involves predicting the cost of a project based on various factors such as the
project scope, resources required, and duration. It is an essential part of project planning and
management.
14) ROME provides a rough estimate of what a project costs before the actual project has
started.
Answer: True
Rationale:
ROME (Rough Order of Magnitude Estimate) provides a rough estimate of what a project
will cost before detailed planning has been done. It is used to provide a preliminary budgetary
estimate for a project.
15) Planned value, actual cost, and break-even analysis are three variables used extensively in
organizations to calculate variances.
Answer: False
Rationale:
While planned value, actual cost, and break-even analysis are important variables in project
management and cost accounting, they are not typically used together to calculate variances.
Variances are usually calculated by comparing planned values to actual values.
16) Earned value is the budgeted amount of cost for work scheduled to be accomplished on a
given activity for a given period of time.
Answer: False
Rationale:
Earned value is the budgeted amount of work that should have been completed at a specific
point in time, according to the project plan. It is a measure of the value of work performed.
17) If cost variance is positive, it means that performing the activity cost more than the
planned or budgeted cost.
Answer: False
Rationale:
If cost variance is positive, it means that the actual cost of performing the activity is less than
the planned or budgeted cost. A negative cost variance indicates that the actual cost exceeds
the planned cost.
18) A negative cost variance indicates the project is over budget.
Answer: True
Rationale:
A negative cost variance occurs when the actual cost of a project exceeds the planned or
budgeted cost. This indicates that the project is over budget and corrective actions may be
needed to bring it back on track.
19) Schedule variance is planned value minus earned value.
Answer: False
Rationale:
Schedule variance is actually earned value minus planned value. It measures the difference
between the value of work performed and the planned value of work scheduled to be
performed.
20) If schedule variance is negative, it means it took longer to perform the activity than
planned.
Answer: True
Rationale:
A negative schedule variance indicates that the work performed is behind schedule, meaning
it took longer to perform the activity than planned.
21) If the SPI is equal to 1.5, then the project is behind schedule.
Answer: False
Rationale:
The Schedule Performance Index (SPI) is calculated as Earned Value (EV) divided by
Planned Value (PV). An SPI of 1.5 means that for every unit of time planned, 1.5 units of
work were actually accomplished. This indicates that the project is ahead of schedule, not
behind.
22) If the SPI is .5, then the project is ahead of schedule.
Answer: False
Rationale:
An SPI of 0.5 indicates that for every unit of time planned, only 0.5 units of work were
actually accomplished. This means that the project is behind schedule, not ahead.
23) CPI is the most important tracking metric in EVA.
Answer: True
Rationale:
The Cost Performance Index (CPI) is a key metric in Earned Value Analysis (EVA) that
indicates the cost efficiency of the project. It compares the value of work completed to the
actual cost incurred. CPI values below 1 indicate that the project is over budget, while values
above 1 indicate that the project is under budget.
24) Duration is defined as the total span of active working time that is required to complete
an activity.
Answer: True
Rationale:
Duration refers to the total time required to complete an activity, including any breaks or
interruptions. It is an important aspect of project scheduling and helps in determining the
overall project timeline.
25) In fixed duration, the amount of work is a fixed value.
Answer: False
Rationale:
In fixed duration, the duration of the activity is fixed, but the amount of work can vary. For
example, a task with a fixed duration of one week may require varying levels of effort
depending on the resources assigned to it.
26) Resource leveling extends the project time and aims to minimize the period-by-period
variations in resource loading by shifting tasks within their slack allowances.
Answer: True
Rationale:
Resource leveling is a technique used in project management to optimize the allocation of
resources and avoid overloading resources at any point in time. It involves adjusting the
timing of tasks within their slack allowances to smooth out resource requirements over the
project duration.
27) A RUE value above 1 indicates that the resources allocated to a project are not efficiently
utilized.
Answer: False
Rationale:
Resource Utilization Efficiency (RUE) is a measure of how efficiently resources are utilized
on a project. A RUE value above 1 indicates that resources are being utilized more efficiently
than planned, while a value below 1 indicates that resources are not being utilized efficiently.
28) RUI is an index that indicates how the resources on the project should be utilized for the
remainder of the project.
Answer: True
Rationale:
Resource Utilization Index (RUI) is a metric used in project management to indicate how
efficiently resources should be utilized for the remainder of the project. It helps in optimizing
resource allocation and ensuring that resources are used effectively to complete the project.
29) The cost resource variance is the schedule variance due to the difference between
budgeted and actual units of resource.
Answer: False
Rationale:
The cost resource variance is a measure of the difference between the budgeted cost of a
resource and the actual cost incurred for that resource. It is used to assess cost performance
on a project and is not related to the schedule variance.
30) Every aspect of a project has a technical dimension and a human dimension.
Answer: True
Rationale:
Projects involve both technical aspects, such as the use of technology and tools, as well as
human aspects, such as communication, teamwork, and leadership. Both dimensions are
important for the successful completion of a project.
9.2 Multiple Choice
1) Resource planning steps include
A) level the resources.
B) construct a resource schedule.
C) quantify the required resources.
D) all of the above.
Answer: D
Rationale:
Resource planning involves identifying the resources required for a project, determining
when and how they will be acquired, and how they will be used. This includes leveling
resources to avoid overallocation, constructing a resource schedule to plan resource usage
over time, and quantifying the required resources to ensure that they are available when
needed.
2) A process of tracking, reviewing, and regulating the progress of a project to meet the
performance objectives defined in the project management plan best defines
A) monitoring and controlling of project.
B) determining quality standards.
C) managing and controlling quality.
D) defining and monitoring roles and authority.
Answer: A
Rationale:
Monitoring and controlling a project involves tracking the project's progress, reviewing its
performance against the project management plan, and taking corrective actions as necessary
to ensure that the project meets its performance objectives.
3) Which of the following focuses on identifying the factors that influence proposed changes
to a project, evaluating these influences, and managing the changes in real time during project
implementation?
A) quality control determination
B) integrated change control
C) time management
D) procurement management
Answer: B
Rationale:
Integrated change control is a project management process that focuses on identifying,
evaluating, and managing changes to a project in real time. It involves assessing the impact of
proposed changes, determining whether they are necessary, and managing them to ensure that
they do not negatively affect the project's objectives.
4) The process of managing change in hardware, software, documentation, and measurements
best defines
A) critical chain project management.
B) PERT.
C) configuration management.
D) benchmarking.
Answer: C
Rationale:
Configuration management is the process of managing change in hardware, software,
documentation, and measurements. It involves identifying and documenting the configuration
of the project and controlling changes to the configuration throughout the project's lifecycle.
5) A set of approval stages that are required to change the attribute of a configuration item
best describes
A) quality process analysis.
B) quality assurance.
C) cost monitoring.
D) configuration change control.
Answer: D
Rationale:
Configuration change control is a process that defines a set of approval stages required to
change the attributes of a configuration item. It ensures that changes are properly reviewed,
approved, and implemented to maintain the integrity of the project's configuration.
6) Project costs can be classified as each of the following except as
A) feasible.
B) direct material and labor.
C) fixed.
D) variable.
Answer: A
Rationale:
Project costs can be classified as direct material and labor costs, fixed costs, and variable
costs. Feasibility is not a classification of project costs but rather a determination of whether a
project is technically and economically viable.
7) The costs of materials that are entirely linked to the production of the final product defines
A) indirect costs.
B) direct costs.
C) specific costs.
D) designated costs.
Answer: B
Rationale:
Direct costs are costs that can be directly attributed to the production of the final product.
These costs include materials, labor, and other expenses that are directly related to the
production process.
8) Any material and labor costs that are necessary to complete a project, but do not become
an actual part of the final project defines
A) nonspecific costs.
B) flexible costs.
C) indirect costs.
D) relaxed costs.
Answer: C
Rationale:
Indirect costs are costs that are necessary to complete a project but do not become an actual
part of the final product. These costs include overhead costs such as rent, utilities, and
administrative expenses.
9) Costs that are constant regardless of changes in the level of project activities best defines
A) variable costs.
B) intangible costs.
C) indirect costs.
D) fixed costs.
Answer: D
Rationale:
Fixed costs are costs that remain constant regardless of changes in the level of project
activities. These costs include expenses such as rent, salaries, and insurance premiums that do
not vary with the level of production.
10) Costs that vary in direct proportion to changes in the level of project activities best
defines
A) variable costs.
B) fixed costs.
C) flexible costs.
D) nonspecific costs.
Answer: A
Rationale:
Variable costs are costs that vary in direct proportion to changes in the level of project
activities. These costs include expenses such as raw materials and labor that increase or
decrease based on the level of production.
11) Costs that are primarily indirect costs associated with project implementation best defines
A) fixed costs.
B) overhead costs.
C) implementation costs.
D) general and administrative costs.
Answer: B
Rationale:
Overhead costs are indirect costs associated with project implementation that cannot be
directly attributed to a specific project but are necessary for the overall operation of the
organization. These costs include expenses such as utilities, rent, and administrative salaries.
12) Quantifiable costs related to an identifiable resource or asset best defines
A) attachable costs.
B) intangible costs.
C) tangible costs.
D) fixed costs.
Answer: C
Rationale:
Tangible costs are costs that can be quantified and are related to an identifiable resource or
asset. These costs include expenses such as materials, labor, and equipment that can be
directly attributed to a specific project or activity.
13) Unquantifiable costs relating to an identifiable source best defines
A) variable costs.
B) unspecified costs.
C) flexible costs.
D) intangible costs.
Answer: D
Rationale:
Intangible costs are costs that cannot be easily quantified but are related to an identifiable
source. These costs include expenses such as loss of productivity, customer goodwill, and
reputation damage.
14) Laboratories used for multiple projects, expendable equipment, and depreciation of
laboratory capital equipment are examples of
A) overhead costs.
B) general and administrative costs.
C) investigative costs.
D) intangible costs.
Answer: A
Rationale:
Laboratories used for multiple projects, expendable equipment, and depreciation of
laboratory capital equipment are examples of overhead costs. These costs are incurred for the
overall operation of the organization and cannot be directly attributed to a specific project.
15) Incurred costs that cannot be changed by any decision and that cannot be recovered best
defines
A) fixed costs.
B) sunk costs.
C) failure costs.
D) designated costs.
Answer: B
Rationale:
Sunk costs are costs that have been incurred and cannot be recovered, regardless of any future
decisions. These costs are considered irrelevant for decision-making purposes as they cannot
be changed.
16) A potential benefit given up when one activity is selected over another best defines
A) sunk costs.
B) variable costs.
C) opportunity costs.
D) reflective costs.
Answer: C
Rationale:
Opportunity costs are the potential benefits that are forgone when one alternative is chosen
over another. These costs represent the value of the next best alternative that is not chosen.
17) The process of determining the cost of a project best defines
A) procurement management.
B) cost decomposition.
C) quality control.
D) cost estimation.
Answer: D
Rationale:
Cost estimation is the process of determining the cost of a project. It involves estimating the
costs of resources, labor, materials, and other expenses needed to complete the project.
18) Methods employed in estimating costs include each of the following except
A) ROI.
B) DE.
C) AHE.
D) ROME.
Answer: A
Rationale:
Return on Investment (ROI) is not a method employed in estimating costs. ROI is a financial
metric used to evaluate the profitability of an investment, not to estimate the costs of a
project.
19) Which of the following provides a rough estimate of what a project costs before the
actual project has started?
A) AHE
B) ROME
C) DE
D) PARETO
Answer: B
Rationale:
Rough Order of Magnitude (ROME) provides a rough estimate of what a project costs before
the actual project has started. It is used to provide a high-level estimate of the project's cost
based on limited information.
20) Which of the following is an estimate made without detailed knowledge of a project?
A) AFFINITY
B) QMT
C) AHE
D) DE
Answer: C
Rationale:
Analogous Estimating (AHE) is an estimate made without detailed knowledge of a project. It
relies on historical data or expert judgment to provide an estimate based on similar past
projects.
21) Which of the following prepares a detailed estimate from well-developed plans and real
quotes?
A) BAC
B) AHE
C) ROME
D) DE
Answer: D
Rationale:
Detailed Estimating (DE) prepares a detailed estimate from well-developed plans and real
quotes. It is used when the project plans are well-defined and there is enough information to
provide an accurate estimate of the project's cost.
22) Which of the following uses "work in progress" to indicate the future of a project?
A) earned value analysis
B) budget at compliance
C) planned value
D) cost variance
Answer: A
Rationale:
Earned Value Analysis (EVA) uses "work in progress" to indicate the future of a project. It
compares the value of work completed to the actual cost incurred and the planned cost for the
work to determine the project's performance and future outlook.
23) Deviation from an original plan best defines
A) scope deviation.
B) variance.
C) design creep.
D) silver bullet syndrome.
Answer: B
Rationale:
Variance refers to the deviation from an original plan. It can relate to cost, schedule, or other
project parameters and indicates the difference between planned and actual performance.
24) The baseline budgeted cost best defines
A) earned value.
B) planned value.
C) budget at completion.
D) cost variance.
Answer: C
Rationale:
Budget at Completion (BAC) is the baseline budgeted cost, which represents the total
budgeted cost for the project at its completion. It is used as a reference point for measuring
project performance.
25) The budgeted amount of cost for work scheduled to be accomplished on a given activity
for a given period of time best defines
A) variance.
B) earned value.
C) actual cost.
D) planned value.
Answer: D
Rationale:
Planned Value (PV) is the budgeted amount of cost for work scheduled to be accomplished
on a given activity for a given period of time. It represents the authorized budget assigned to
the scheduled work.
26) The amount of cost budgeted for completed work of a given activity for a given period of
time best defines
A) earned value.
B) actual cost.
C) scheduled cost.
D) net present value.
Answer: A
Rationale:
Earned Value (EV) is the amount of cost budgeted for completed work of a given activity for
a given period of time. It represents the value of the work actually completed.
27) The actual amount spent in completing the work accomplished within a given time period
best defines
A) fixed costs.
B) actual costs.
C) designated costs.
D) earned value costs.
Answer: B
Rationale:
Actual Costs (AC) are the actual amount spent in completing the work accomplished within a
given time period. They represent the actual expenses incurred for the work performed.
28) Which of the following compares cost deviations only and does not take schedule into
account?
A) earned value
B) actual costs
C) cost variance
D) variable costs
Answer: C
Rationale:
Cost Variance (CV) compares cost deviations only and does not take schedule into account. It
is calculated as Earned Value (EV) minus Actual Cost (AC) and indicates whether the project
is under or over budget.
29) Which of the following compares schedule deviations only and does not take cost into
account?
A) collaboration variance
B) quality variance
C) baseline variance
D) schedule variance
Answer: D
Rationale:
Schedule Variance (SV) compares schedule deviations only and does not take cost into
account. It is calculated as Earned Value (EV) minus Planned Value (PV) and indicates
whether the project is ahead or behind schedule.
30) The ratio of earned value to actual cost best defines
A) cost performance index.
B) schedule performance index.
C) estimate at completion.
D) duration index.
Answer: A
Rationale:
Cost Performance Index (CPI) is the ratio of earned value to actual cost. It indicates the cost
efficiency of the project, with a CPI greater than 1 indicating that the project is under budget,
and less than 1 indicating that the project is over budget.
31) The ratio of earned value to planned value best defines
A) variance at completion.
B) schedule performance index.
C) estimate at completion.
D) cost performance index.
Answer: B
Rationale:
Schedule Performance Index (SPI) is the ratio of earned value to planned value. It indicates
the schedule efficiency of the project, with an SPI greater than 1 indicating that the project is
ahead of schedule, and less than 1 indicating that the project is behind schedule.
32) The best estimate of the total cost at the completion of the project best defines
A) schedule performance index.
B) cost performance index.
C) estimate at completion.
D) variance at completion.
Answer: C
Rationale:
Estimate at Completion (EAC) is the best estimate of the total cost at the completion of the
project. It takes into account the project's performance to date and provides an estimate of the
total cost based on that performance.
33) The estimate required to complete the project if the project performance continues at this
rate best defines
A) duration rate.
B) schedule variance.
C) variance at completion.
D) estimate to complete.
Answer: D
Rationale:
Estimate to Complete (ETC) is the estimate required to complete the project if the project
performance continues at the current rate. It is used to forecast the total cost of the project
based on current performance.
34) Which of the following illustrates whether and how much the project will be over budget
or under budget at completion?
A) variance at completion
B) schedule variance
C) estimate to complete
D) budget at completion
Answer: A
Rationale:
Variance at Completion (VAC) illustrates whether and how much the project will be over
budget or under budget at completion. It is calculated as Budget at Completion (BAC) minus
Estimate at Completion (EAC).
35) The total span of active working time that is required to complete an activity best defines
A) schedule variance.
B) duration.
C) earned value.
D) work variance.
Answer: B
Rationale:
Duration is the total span of active working time that is required to complete an activity. It is
an important aspect of project scheduling and helps in determining the overall project
timeline.
36) Which of the following compares actual and baseline duration?
A) cost variance
B) resource variance
C) duration variance
D) work variance
Answer: C
Rationale:
Duration Variance compares actual and baseline duration. It indicates whether the duration of
the project activities is tracking according to the planned schedule.
37) The planning out of the resources used to execute the project best defines
A) systems design.
B) capital management.
C) feasibility analysis.
D) resource planning.
Answer: D
Rationale:
Resource planning is the process of planning out the resources, including people, facilities,
and equipment, that will be used to execute the project. It involves identifying the resources
needed, estimating their availability, and scheduling their use.
38) Outputs from the cost management process include each of the following except
A) detailed system specifications.
B) budget updates.
C) lessons learned.
D) revised cost estimates.
Answer: A
Rationale:
Detailed system specifications are not typically outputs from the cost management process.
The cost management process focuses on monitoring and controlling the project's costs,
updating budgets, analyzing variances, and revising cost estimates as necessary.
39) Resources include
A) people.
B) facilities.
C) equipment.
D) all of the above.
Answer: D
Rationale:
Resources include people, facilities, and equipment, among other things. They are the assets
or means that are available for use in the project.
40) Steps taken to complete resource planning include
A) list the required resources.
B) quantify the required resources.
C) construct a resource schedule.
D) all of the above.
Answer: D
Rationale:
Resource planning involves several steps, including listing the required resources,
quantifying the required resources, and constructing a resource schedule. These steps help
ensure that the right resources are available at the right time to complete the project
successfully.
41) A resource schedule specifies
A) resources required to complete the project.
B) timeframes for the consumption of each resource.
C) quantity of each resource required per week.
D) all of the above.
Answer: D
Rationale:
A resource schedule specifies the resources required to complete the project, the timeframes
for the consumption of each resource, and the quantity of each resource required per week. It
helps in effectively managing and allocating resources throughout the project.
42) Creating a smoother distribution of resource usage is the purpose of
A) resource leveling.
B) crashing.
C) fast tracking.
D) scope creep.
Answer: A
Rationale:
Resource leveling is the process of creating a smoother distribution of resource usage by
adjusting the project schedule. It aims to prevent overallocation of resources and ensure that
resources are used efficiently throughout the project.
43) A method to flatten the schedule when resources are over-allocated with a general idea to
prevent team members from becoming overextended best describes
A) fast tracking.
B) resource-leveling heuristic.
C) crashing.
D) thought process mapping.
Answer: B
Rationale:
The resource-leveling heuristic is a method used to flatten the schedule when resources are
over-allocated. It aims to prevent team members from becoming overextended by adjusting
the project schedule to balance resource usage.
44) Which of the following provides the efficiency of the utilization of the resources
allocated to the project?
A) AHE
B) ROME
C) RUE
D) DE
Answer: C
Rationale:
Resource Utilization Efficiency (RUE) provides the efficiency of the utilization of the
resources allocated to the project. It indicates how effectively resources are being used to
complete the project activities.
45) Which of the following provides a unified approach to initiate all activities of a project
and the necessary information for work to begin?
A) steering committee
B) project authentication system
C) systems development lifecycle
D) work authorization system
Answer: D
Rationale:
The work authorization system provides a unified approach to initiate all activities of a
project and the necessary information for work to begin. It ensures that work is authorized
and coordinated efficiently throughout the project.
9.3 Essay
1) Identify and define five types of project costs.
Answer: Direct costs, indirect costs, fixed costs, variable costs, and overhead costs are five
types of costs. Direct material and labor costs are the costs of materials that are entirely
linked to the production of the final product. Indirect costs include any material and labor
costs that are necessary to complete a project, but do not become an actual part of the final
project. Fixed costs remain constant regardless of changes in the level of project activities.
Variable costs vary in direct proportion to changes in the level of project activities. Overhead
costs are primarily those indirect costs associated with project implementation.
2) Describe three common methods employed in estimating costs.
Answer: ROME, AHE, and DE are three common methods. Rough Order of Magnitude
Estimate provides a rough estimate of what a project costs before the actual project has
started. The approximate historical estimates are made without detailed knowledge of a
project. Detailed estimates are prepared from well-developed plans and real quotes.
3) Identify five benefits of EVA.
Answer: Benefits include an accurate project status; a realistic account of project costs and
schedule at any point in a project; early identification of project trends and problems; a
control system that provides reliable data; and a benchmark for all projects.
4) Identify five metrics for monitoring project cost and schedule.
Answer: Metrics include cost variance, schedule variance, cost performance index, schedule
performance index, and estimate at completion.
5) Identify three opportunities created by embracing scope creep.
Answer: Opportunities include clients can figure out exactly what they want through the
process; the project team can discover what works and does not work; and the ability to react
to something late in the cycle may provide a competitive advantage.
Test Bank for Project Management: Process, Technology and Practice
Ganesh Vaidyanathan
9780132807180
