Monitoring and Controlling Processes

question 27

Multiple Choice

Monitoring and controlling processes:

• A) Signal the beginning of the project or phase.
• B) Requires an organization to make a commitment of time and resources.
• C) focus on integrating people and resources to carry out the planned activities.
• D) supports planning of the entire project and each individual phase
• E) allows for managing and measuring progress toward the project's MOV and scope, schedule, budget, and quality objectives.

---

Definitions:

Cost Formulas

Equations used to calculate and anticipate the costs associated with manufacturing a product or providing a service, often considering variables such as materials, labor, and overhead.

Performance Reports

Documents that compare budgeted or planned performance against actual performance.

Spending Variance

The difference between the actual amount spent and the budgeted amount, often analyzed in budgeting and cost management.

Plane Operating Costs

are expenses related to operating aircraft, including fuel, maintenance, crew salaries, and airport fees.