Question

True or False. Your organization is in the midst of a project in uncharted waters; nothing you have attempted before comes close to many of the activities that are necessary to bring this project to completion. Your earned value management should probably be tracked closely with a percentage complete rule in increments of 5 to 10 percent.

Answer 1

Answer:

The correct answer is False.

Explanation:

A fundamental success factor in any project is its director's ability to make the right decisions at the right time. This can only be done if there is clear, reliable and updated information about the progress of the project. It is equally important to provide concise information to those interested in the project. The GVG provides an approach to measure the performance of the project from the comparison of its real progress against the planned one, allowing to evaluate trends to formulate forecasts.

To implement the GVG in a project, it is necessary to define the Performance Measurement Baseline (PMB), which integrates the description of the work to be performed (scope), the deadlines for its completion (schedule) and the calculation of its costs and resources required for its execution (cost).