Next True or False Questions: Financial management is concerned with the maintenance and creation of wealth. The current ratio and the acid test ratio are both measures of financial leverage.
It is the efficiency of the time utilized on the project. If the SPI is greater than one, this means more work has been completed than the planned work. In other words, you are ahead of schedule. If the SPI is less than one, this means less work has been completed than the planned work.
In other words, you are behind schedule.
If the SPI is equal to one, this means work is being completed at about the same rate as planned, you are on time. While calculating the Schedule Performance Index, make sure that you consider all tasks.
Therefore, ensure that non-critical activities are included. Find the Schedule Performance Index and deduce whether the project is behind or ahead of schedule.
Given in the question: It measures the value of the work completed compared to the actual cost spent on the project. The Cost Performance Index is an indication of how well the project is remaining on budget. If the CPI is less than one, you are earning less than the amount spent.
If the CPI is greater than one, you are earning more than the amount spent. In other words, you are under budget. If the CPI is equal to one, this means earning and spending are equal. You can say that you are proceeding exactly as per the planned budget spending, although this rarely happens.
Find the Cost Performance Index for this project and deduce whether you are under budget or over budget.
Earned Value Management (EVM) is a technique for measuring project progress in an objective manner true The valuations in an Earned Value Management analysis must be either profits or revenue. What is earned value management (EVM)? The basic concept of EVM is more than a unique project management process or technique. It is an umbrella term for 32 guidelines that define a set of requirements that a contractor’s management system must meet. Content management for its own sake is not nearly as powerful as when it serves a knowledge management effort. This presentation will help you understand--and convince other decision-makers--that there is a smarter way to manage content.
In other words, you are over budget. If this is the case, check all assumptions and estimates for accuracy and take corrective action as needed.
Why not take only variances into account, or just performance indexes? With variances, you find the difference between the two values. With indexes, you get the ratio between the two values. In cost or schedule variance, the result comes in dollar form.
If this number is negative, you say that the project is in bad shape. However, if this number is positive, you say that the project is in good shape.A project is complete when all work, including all project management work, is complete and the product of the project, not just deliverables, accepted.
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PERT/CPM for Project Scheduling & Management 1. INTRODUCTION.
Basically, CPM (Critical Path Method) and PERT (Programme Evaluation Review Technique) are project management techniques, which have been created out of the need of Western industrial and military establishments to plan, schedule and control complex plombier-nemours.com MBA Dictionary of Business Management Methods.
This management dictionary contains a description and explanation of terms and methods. It's a management plombier-nemours.com://plombier-nemours.com · Project justification, background, scope, objectives, available resources, organizational responsibilities, detailed project schedules, estimates, and detailed procurement schedules responsibilities, a project schedule, and any limitations that top management wants to plombier-nemours.com://plombier-nemours.com Question 46 answers True False Question 46 text Question 46 1 points Save In project management, the level of uncertainty plays a major role in determining the adequacy of a project plan.
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