project performance SV

Submitted by nitsbaba on Mon, 01/21/2013 - 16:42

while reviewing the project performance, the project manager determines that the SV = -500.
what is the best thing to do?

1- let sponsor know
2- determine CV
3- look for activities that can be done in parallel
4- move resources from the project to one that is not failing

 

can someone suggest what approach to follow while handling these type of questions

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raza82

Mon, 01/21/2013 - 18:12

The answer should be 2) determine cost variance.

After determining cost variance you can be in a best position to decide what needs to be done next 

nitsbaba

Mon, 01/21/2013 - 18:22

the answer you mentioned is given in the ritas explanation too.

perhaps can any other logical reason be given for this choice.

sunitaPMP

Mon, 01/21/2013 - 18:38

So looking at CV  first ,you will be in position to decide if you can add more resources  etc which depends upon cost.

 

raza82

Mon, 01/21/2013 - 18:42

Well letting the sponsor know without a detail analysis will not be a good choice,  if u only tell the sponsor that the schedule is way behind, then probably he will ask you to how to solve the problem.

Without doing a cost variance analysis, you wont be in a good position to tell him whether to add more resource.

Similarly if you will perform things in parallel, this will increase the risk of the project, probably u will reach a point where you will have to go back and rework which will further delay the work and add more cost.

Last option, I think it is not under the project manager control/authority  to move resources freely from one project to another. 

 

 

 

 

 

sspawar

Tue, 01/22/2013 - 07:24

I will go for C.


At many places I do not find comfortable with Rita"s Quest.


Here my logic is :


Case A


if you determined CV. There are 2 possibilities -- either you will get cv in minus or plus.


in minus situation you will look for fast tracking.


in plus situation would you not like to look for fast tracking?


Ans : you will definately see for. it will save money.


Case B


if you are firstly looking for fast tracking--


In case getting possibility of fast tracking -- then I will not go for CV determination. In ideal situation Should I go for CV determination? If I go for - what is benefit.


in case not getting any possibility of parallel activity, or there is higher risk, then you may see for CV .


So these 2 cases proove that option C is better.


But in real world such question does not have any importance, because where SV is available, CV will also be available by default.


I do not find such question will be asked in real exam.


 


 


 

projmanpro

Tue, 01/22/2013 - 07:43

Dude, you are out of the question.. please note that the question talks about "Project Performance" which i could say at hand of the project manager, and NOT THE PROJECT SCHEDULE. How can the Project Manager look for parallel activities in the Project Performance Report anyways? :)

So given the choices, the correct answer is 2, and Rita's explanation is correct.

sspawar

Tue, 01/22/2013 - 09:13

But question is what is best thing to do?


should we go for only determinig CV or to Look for action to neuterlise - SV?


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