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The project is in the process of determining the accuracy of the work of the product. The project team members are utilizing a progressive elaboration approach. They discover that the process to measure the output is not going to produce the results needed. What process will fix the problem?

(a) Perform Quality Assurance
(b) Perform Quality Control
(c) Quality Planning
(d) Quality Management

Control Limits

The area of measurement three standard deviations (or sigma) from the mean on a control chart

Task A is worth $400, is 95% complete, and actually cost $395. Task B is worth $350, is 90% complete, and actually cost $330 so far. Task C is worth $275, is 100% complete, and has cost $310 so far. The total budget is $2500. What is the Variance at Completion for the tasks listed?

(a) -$168.09 (Correct)
(b) $2500
(c) $2668.09
(d) $1633.09

Explanation: The Variance at Completion (VAC) is the difference between the Budget at Completion (BAC) and the Estimate at Completion (ETC). To calculate this, subtract $2500 (BAC) from $2668.09 (EAC) for a difference of -$168.09 US.

For more questions, terminology and other exercises please see the PMP® Exam Success Series: Certification Exam Manual at www.c rosswind pm.com

Question of the Day

The project is in the process of determining the accuracy of the work of the product. The project team members are utilizing a progressive elaboration approach. They discover that the process to measure the output is not going to produce the results needed. What process will fix the problem? (a) Perform Quality Assurance (b) Perform Quality Control (c) Quality Planning (d) Quality Management

Terminology of the Day

Control Limits The area of measurement three standard deviations (or sigma) from the mean on a control chart

Answer and Explanation to Yesterday's Question

Task A is worth $400, is 95% complete, and actually cost $395. Task B is worth $350, is 90% complete, and actually cost $330 so far. Task C is worth $275, is 100% complete, and has cost $310 so far. The total budget is $2500. What is the Variance at Completion for the tasks listed? (a) -$168.09 (Correct) (b) $2500 (c) $2668.09 (d) $1633.09 Explanation: The Variance at Completion (VAC) is the difference between the Budget at Completion (BAC) and the Estimate at Completion (ETC). To calculate this, subtract $2500 (BAC) from $2668.09 (EAC) for a difference of -$168.09 US. For more questions, terminology and other exercises please see the PMP® Exam Success Series: Certification Exam Manual at www.c rosswind pm.com