A Project Manager Just Received the Following Information on Her

question 74

Multiple Choice

A project manager just received the following information on her project: PV = 300, EV = 300, AC = 200. In terms of cost at completion,

• A) the project will currently finish under budget, assuming the project continues to perform in this way.
• B) the project will currently finish over budget, assuming the project continues to perform in this way.
• C) the project will currently finish on budget, assuming the project continues to perform in this way.
• D) the project will currently finish behind schedule, assuming the project continues to perform in this way.
• E) there is insufficient information to draw conclusions.

Appreciate the principle of exceptions and its application in managerial decision-making.

Understand the concept of standard costing and its components.

Calculate and interpret direct materials price and quantity variances.

Calculate and interpret direct labor rate and time variances.

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Definitions:

Need for Achievement

A psychological trait that denotes a person's desire to accomplish difficult tasks and meet high standards of excellence.

Need for Affiliation

A concept in psychology that describes the desire to build relationships and be part of a group.

Need for Achievement

A psychological trait that drives an individual to pursue and attain goals.

nAch

A term used in psychology to denote the need for achievement; it's a person's motivation to excel and achieve in tasks.