CAM CAM Resource Management & Allocation 2

Question 1

What is 'labor rate variance' in CAM resource management?

Accepted Answer

The difference between the planned and actual cost per hour for labor resources

Answer

Labor rate variance measures the difference between the budgeted hourly rate and the actual rate paid for labor, impacting the control account cost performance.

Question 2

What is 'labor efficiency variance' in a control account?

Accepted Answer

The difference between budgeted hours and actual hours worked for a given amount of output

Answer

Labor efficiency variance compares the budgeted hours needed to complete work with the actual hours consumed, reflecting workforce productivity.

Question 3

In EVMS, what is 'undistributed budget (UB)'?

Accepted Answer

Budget authorized for the project but not yet assigned to specific control accounts or work packages

Answer

Undistributed budget is budget that has been authorized for the contract but has not yet been formally distributed to specific control accounts or work packages in the WBS.

Question 4

What is the purpose of 'Management Reserve (MR)' in an EVMS contract?

Accepted Answer

To provide budget held outside the PMB for unplanned in-scope work

Answer

Management Reserve (MR) is budget outside the PMB held by management to address unplanned but in-scope work that arises during project execution.

Question 5

Which resource management technique assigns resources based on task priority to resolve over-allocation?

Accepted Answer

Critical chain method

Answer

The critical chain method prioritizes resources to the critical chain (longest resource-constrained path) and uses feeding buffers to protect the project completion date.

(CAM) Control Account Manager Certification Practice Test

(CAM) Control Account Manager Certification Practice Test

CAM CAM Resource Management & Allocation 2