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GFEBS Project Systems Course Questions and Answers Graded A+ 2023
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GFEBS Project Systems Course
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GFEBS Project Systems CourseWhat is a project definition? - answer The project definition contains data used for
the entire project. It contains default values which can be passed on to the WBS
elements, or influence them, such as:
Project Profile
Project Control values (e.g., user status profile)
Organizational data
Planning parameters
Settlement Rules
Unique Project Number
The Project Profile is often called the "DNA" of a PS project; it determines many
attributes of the project. The Project Profile cannot be changed after project creation.
What is a Project Definition? (2 of 2) - answer In the project definition, default values
are maintained for a project, such as the settlement rule, Person Responsible, or Plant.
The default values can then be copied for a new WBS elements created for this project.
The default values will be copied into new WBS elements created for the project, but
may be changed with the exception of Project Profile.
What is a Work Breakdown Structure? - answer The WBS forms the basis for all
subsequent planning tasks in the project.
The emphasis is placed on:
Planning
Description
Funding and Availability Control
Costs and Fund Consumption Reporting
Monitoring of costs, basic dates, and the statuses
Work Breakdown Structure (WBS) - answer In a WBS, the groupings of work are
described in the project as individual elements in a hierarchy. The work is broken down
in the project, step-by-step, until the level of detail is reached necessary to carry it out.
These groupings of works are WBS Elements.
So in GFEBS, a Work Breakdown Structure is a hierarchical arrangement of WBS
elements under a project definition.
, In GFEBS, there can only be one WBS directly below the Project Definition. This is
known as the Level 1 WBS, and will have the same number (and usually name) as the
Project Definition.
WBS Elements - answer WBS elements are arranged hierarchically so that the most
atomic work that can be described and funded with a single LOA (line of accounting) are
at the bottom. Typically, execution (accrual of expenses) only occurs at this lowest level,
though that does not have to be the case.
Since the WBS is structured hierarchically, we're able to summarize and display the
data for the corresponding higher-level WBS elements, or all the way up to the Project
Definition level.
Click on the note icon below for more information
WBS Elements - Operative Indicators - answer GFEBS uses Operative Indicators to
define characteristics that control functionality of a WBS - they define whether a given
WBS can or cannot be used in some very important processes.
Click on each image for each process.
Click on the note icon for more information.
Planning Element - answer WBS's that can have planned costs entered against them
must be marked by checking the Planning Element operative indicator.
Account Assignment Element - answer WBS's that can have actual costs accrued
(executed) against them must be marked by checking the Account Assignment Element
Operative Indicator.
Billing Element - answer WBS's that can be referenced on a Sales order for a
reimbursable must be marked by checking the Billing Element Operative Indicator.
Which of the following is used to define the characteristics of a WBS element? - answer
Operative Indicators
A good project structures supports which of the following? - answer Cost Reporting
Funding / Funded Program Design
Execution
All of the above
True or False: In PS, the terms "Project" and "Project Definition" are synonymous -
answer False
True or False: A WBS element can have multiple lines of accounting (LOA). - answer
False
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