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    The document discusses key concepts in project management including: 1) An EVM calculation showing a project is ahead of schedule but over budget with an EV of $640,000, PV of $630,000, and AC of $650,000. 2) The importance of understanding project goals and developing a charter before other planning options when starting a new project. 3) The need to follow all change management processes and reduce scope creep. 4) How monitoring communications can improve the process by revising plans and activities, but any changes must go through a formal review and approval process.

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    The document discusses key concepts in project management including: 1) An EVM calculation showing a project is ahead of schedule but over budget with an EV of $640,000, PV of $630,000, and AC of $650,000. 2) The importance of understanding project goals and developing a charter before other planning options when starting a new project. 3) The need to follow all change management processes and reduce scope creep. 4) How monitoring communications can improve the process by revising plans and activities, but any changes must go through a formal review and approval process.

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    4 views2 pages

    Answers Notes

    Uploaded by

    styne ane
    The document discusses key concepts in project management including: 1) An EVM calculation showing a project is ahead of schedule but over budget with an EV of $640,000, PV of $630,000, and AC of $650,000. 2) The importance of understanding project goals and developing a charter before other planning options when starting a new project. 3) The need to follow all change management processes and reduce scope creep. 4) How monitoring communications can improve the process by revising plans and activities, but any changes must go through a formal review and approval process.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    1. EVM calculations.

    Cv = EV – AC ; 640,000 – 650,000 = -10,000


    Sv = EV – PV ; 640,000 – 630,000 = 10,000

    Budget = 3 million
    Pv = 630,000
    Ac = 650,000
    EV = 640,000

    EV > PV : on schedule
    EV < CV : over budget
    The project is ahead of schedule and over budget
    2. The first step is understanding the project goals and business case. Then you will be able to
    develop a project charter. The other options come in later

    D correct (first do D then c)


    A comes in execution
    B comes in planning
    3. Ensure all change management process requirements are followed and scope creep is
    reduced.
    A correct
    B in agile
    D is engagement
    4. The monitoring of communications process may improve communication by revising
    communications plans and activities. Project communication management is a co…. process
    You don’t have to take actions right away,
    D not correct because you need a formal process and formal change request
    C you have to understand
    B you just cant change it, you have to review it assess it then come up with correct changes
    and then approve it
    A correct
    5. Always follow the documented and agreed upon change control process
    B correct
    A wrong : never just implement change before change request
    6. Always follow the documented and agreed upon change control process
    C correct
    B wrong, you just cant go ahead and implement the changes, you have to stick to the change
    management plan
    7. Fast tracking is a schedule compression technique used to shorten the schedule duration by
    running a few different task in parallel. This will generally increase the risk on the project
    A correct
    8. Sprint/iteration/burn up/burn down etc means agile project. Choose 2
    Burnup and burndown charts will display work that has to be done and that is already done
    A and B
    9. Team velocity is done by reviewing previous sprints to estimate how work could get done in
    the next sprint.
    C correct
    10. You evaluate the change and then submit the change request.
    Risk should be assessed against all project objectives
    You evaluate the change first
    A correct. You have to assess the changes,

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