Before you begin the exam, rename this file as PMAN650_Midterm_Exam_yourlastname.<\/p>\n
Multiple Choice and Short Answer Questions (2.5 points each)<\/p>\n
Questions 1 and 2 are based on the generic work breakdown structure presented below:<\/p>\n
WBS No. Descriptor
\n0 Project
\n1 1st Level Product Outcome A
\n1.1 2nd Level Product\/Outcome A.1
\n1.1.1 3rd Level Product Outcome A.1.1
\n1.1.1.1 Work Package A.1.1.1
\n1.1.1.2 Work Package A.1.1.2
\n1.1.2 3rd Level Product\/Outcome A.1.2
\n1.1.2.1 Work Package A.1.2.1
\n1.2 2nd Level Product\/Outcome A.2
\n1.2.1 Work Package A.2.1
\n1.2.2 Work Package A.2.2
\n1.2.3 Work Package A.2.3
\n2 1st Level Product\/Outcome B
\n2.1 2nd Level Product\/Outcome B.1
\n2.1.1 Work Package B.1.1.
\n2.1.2 Work Package B.1.2
\n3 1st Level Product\/Outcome C
\n3.1 Work Package C.1
\n3.2 2nd Level Product\/Outcome C.2
\n3.2.1 Work Package C.2.1
\n3.2.2 Work Package C.2.2
\n3.3 2nd Level Product\/Outcome C.3
\n3.3.1 Work Package C.3.1<\/p>\n
1. Identify two areas where the WBS structure does not exhibit good WBS structural characteristics. How would you modify the WBS to resolve each issue? Remember, this is a generic WBS; disregard any perceived issues associated with the descriptors and the format of the numbering system. Focus on issues associated with desired WBS core characteristics.<\/p>\n
2. Define Planned Value (PV) and Budget at Completion (BAC). When does PV equal BAC?
\n3. When are Fixed Formula Earned Value (EV) measurement rules appropriate?<\/p>\n
4. What is the difference between percent complete and percent complete with gates earned value (EV) measurement rules? What advantage does the latter have over the former?<\/p>\n
5. Under what conditions would the high end Estimate at Completion (EAC) formula provide a value numerically less than the low-end EAC formula?<\/p>\n
6. You\u2019ve just completed an earned value analysis of your project. The results indicate one of the control accounts CV of negative 100 and a CPI of 1.02. What does this mean?<\/p>\n
7. Describe the cost baseline. What is the difference between the cost baseline and the performance measurement baseline?<\/p>\n
8. Describe the relationships among project cost, schedule, and scope.<\/p>\n
9. How does earned value give a clearer picture of project schedule and cost status than a simple plan versus actual system?<\/p>\n
10. What is a cost account? How is it used?<\/p>\n
11. Why is it important to resist changes to the performance measurement baseline? Under what conditions would changes to the baseline be appropriate? When would changes to the baseline not be allowed?<\/p>\n
12. Cost Variance (CV) and Cost Performance Index (CPI) can both be used to determine whether a project is on budget, under budget, or over budget at a particular point in time. Why have two measures for the same thing?<\/p>\n
Project Exercise A \u2013 20 points
\nFrom the data shown below, calculate the earned value (EV) of each control account as of 5\/30\/14. Assume all control account work is on schedule except as noted below.
\nControl Account Scheduled Start Scheduled Completion Budgeted Value EV Progress Rule
\n1 3\/3\/2014 6\/30\/2014 10,000 Percent Complete with Gates (Note 1)
\n2 5\/5\/2014 6\/6\/2014 3,000 Fixed Formula: 50\/50
\n3 5\/26\/2014 6\/6\/2014 1,000 Fixed Formula: 0\/100
\n4 5\/12\/2014 5\/30\/2014 2,000 Fixed Formula: 30\/70
\n5 4\/14\/2014 7\/11\/2014 15,000 Weighted Milestones (Note 2)<\/p>\n
Note (1): Five equally-valued gates have been established in this control account. Two of the five gates are complete as of 5\/30\/14.The Control Account Manager estimates that half of the work required for the third gate has also been completed.
\nNote 2: Six milestones have been established in this control account with the following values: (1) milestone 1 \u2013 20%; milestone 2- 15%; milestone 3 \u2013 10%; milestone 4 \u2013 25%; milestone 5 – 15%; milestone 6 \u2013 15%. Three of the milestones are complete as of 5\/30\/14.
\nProject Exercise B \u2013 20 points
\nYou\u2019re undertaking a backyard renovation and have decided to create several management control points where scope, budget, and schedule will be integrated and compared to earned value for performance measurement: (1) preparatory work; (2) outdoor living area; (3) lawn and garden areas; (4) privacy considerations; and (5) utilities and services to support outdoor activities.
\nThe outdoor living area includes a paver patio, weather protection, an outdoor kitchen, and an eating\/lounging area. The proposed WBS for the project is shown below. The WBS is decomposed to the work package level; i.e., each work package stands on its own and does not include any lower level elements. The top level WBS (numbered 0) is the total project. Complete the WBS numbering system without modifying the WBS structure.
\nWBS No. Descriptor
\n0 Backyard Renovation
\n1 Preparations
\nObtain building permits
\nLocate\/mark underground utilities cable\/pipes
\nUtilities\/Services
\nEntertainment Lighting and Outdoor Electrical Service System
\nSelect\/purchase entertainment lighting and outdoor electrical service system components
\nLocate\/install entertainment lighting system components
\nInterface entertainment lighting system with electrical panel
\nTest entertainment lighting system
\nLocate\/install outdoor electrical service system wiring
\nInterface outdoor electrical service system with electrical panel
\nTest electrical service system
\nLandscape Lighting System
\nSelect\/purchase landscape lighting system components
\nLocate\/install landscape lighting system components
\nInterface landscape lighting system components with outdoor electrical service system
\nCooking Gas System
\nSelect\/purchase cooking gas system components
\nInstall gas line and shutoff valve for cooking equipment
\nInterface with gas source and test connection
\nIrrigation System
\nSelect\/purchase irrigation system components
\nLocate\/install irrigation system components
\nInterface with water source and test connection
\nOutdoor Living Area
\nPaver patio
\nSelect\/purchase patio construction material
\nStakeout and prepare area for new patio
\nInstall new paver patio
\nWeather Protection
\nSelect\/purchase patio cover
\nInstall patio cover
\nOutdoor Kitchen
\nCooking Area
\nLocate and install cooking equipment
\nInterface cooking equipment with cooking gas service and test connection
\nTest cooking equipment
\nPreparation Area
\nLocate and install cabinets and countertops
\nLocate\/install cabinet electrical receptacles
\nInterface receptacles with outdoor electrical service system wiring – test connection
\nEating\/Lounging Area
\nPurchase patio furniture
\nAssemble\/install patio furniture
\nLawn\/Garden Areas
\nPlanting Beds
\nLayout and prepare planting beds
\nInstall trees\/plants
\nMulch planting beds
\nLawn
\nPrepare lawn areas
\nInstall sod
\nPrivacy
\nSelect\/purchase fencing material
\nInstall fencing
\nPaint fencing<\/p>\n","protected":false},"excerpt":{"rendered":"
Before you begin the exam, rename this file as PMAN650_Midterm_Exam_yourlastname. Multiple Choice and Short Answer Questions (2.5 points each) Questions 1 and 2 are based on the generic work breakdown structure presented below: WBS No. Descriptor 0 Project 1 1st Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19245","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/19245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=19245"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/19245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=19245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=19245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=19245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}