CAM Foundational Concepts & Principles 2

Question 1

In an Earned Value Management System (EVMS), what is a control account?

Accepted Answer

A management control point where scope, budget, and schedule are integrated for performance measurement

Answer

A control account is the intersection point of the WBS and OBS where scope, schedule, and budget are integrated and performance is measured.

Question 2

The Control Account Manager (CAM) is primarily responsible for which of the following?

Accepted Answer

Planning, managing, and reporting performance of the work within their assigned control account

Answer

The CAM owns the scope, schedule, and budget of a control account and is accountable for its performance.

Question 3

Which two structures intersect to define a control account?

Accepted Answer

Work Breakdown Structure (WBS) and Organizational Breakdown Structure (OBS)

Answer

Control accounts are established at the intersection of the WBS (what work) and the OBS (who performs it).

Question 4

What does the Budgeted Cost for Work Performed (BCWP) represent?

Accepted Answer

The earned value of work actually accomplished, measured in budget dollars

Answer

BCWP, or earned value, is the budgeted value of the work that has actually been completed.

Question 5

A CAM notices actual costs (ACWP) exceed earned value (BCWP) for the month. What does this indicate?

Accepted Answer

An unfavorable cost variance

Answer

Cost variance equals BCWP minus ACWP, so spending more than the value earned produces a negative (unfavorable) cost variance.

(CAM) Control Account Manager Certification Practice Test