INF 337 Week 3 Quiz
1. The three key components of Earned Value are PV, AC and
EV.
2. The following is the cost of all progress achieved on the
project, or part of the project, and represents what has been spent.
3. Earned value describes what has been earned, not simply
what has been spent.
4. A project variance can either be a positive or a negative
number.
5. Accurate and up to date information on percentage of work
packages completed is not important for EV.
6. Any significant deviations between actual and planned
budget expenditures constitute what?
7. A formal financial review process is always necessary,
even when a PM uses project cost control because of the many uncertainties with
cost control.
8. AC is the actual cost of the work performed.
9. The 50/50 rule is used for packages with a very long
duration.
10. Which of the following is a quantitative measurement?
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