Graded Homework

Question 1 (12 percent of exam grade)

1. Name and describe three types of cost estimation used in project management.
2. Describe the following three terms from earned value management:
3. Actual cost of work performed
4. Budgeted cost of work performed
5. Earned value
6. What can you imply about the project status if the cost performance index is equal to 0.9?

Question 2 (28 percent of exam grade)

1. Compare and contrast the following characteristic pairs of a work breakdown structure:

i. hierarchical decomposition – incremental decomposition

ii. deliverables – work packages

iii. dictionary – tree structure

1. What information must you add to a WBS to develop a schedule?
2. What information must you add to a WBS to develop a cost estimate?

Question 3 (24 percent of exam grade)

1. Name and briefly describe the main risk management processes.
2. What is a risk register? How is it used?
3. Provide a good example of a risk, classify the risk, and describe an appropriate risk mitigation strategy for this risk.

Question 4 (24 percent of exam grade)

1. Provide five good reasons why communications is important to project success.
2. Provide a good example outline of a project communications plan.
3. Why is it important to close projects properly?

Question 5 (12 percent of exam grade)

1. Describe the steps of requirements change control.
2. What is the project baseline and why is it important?
3. As project manager, you realize your project has failed. What is your next step?