Discover the most suitable monetary evaluation criteria question for project tracking in Six Sigma. Learn why “Is the project on budget?” is the correct choice and enhance your understanding of ASQ Six Sigma Black Belt certification.
Table of Contents
Question
Which of the following is an example of monetary evaluation criteria question for project tracking?
A. Is project meeting its goals?
B. Is project management team sufficiently paid?
C. Is the project on budget?
D. Is the project progressing as planned?
Answer
C. Is the project on budget?
Explanation
Monetary Evaluation Criteria
Monetary evaluation criteria are essential for assessing the financial aspects of a project, particularly in Six Sigma initiatives where cost control and financial performance are critical. These criteria help determine whether a project is financially viable and aligned with organizational goals.
Option A: Is project meeting its goals?
This question focuses on the qualitative aspect of goal achievement rather than financial metrics, making it less relevant as a monetary evaluation criterion.
Option B: Is project management team sufficiently paid?
While this question pertains to compensation, it does not directly evaluate the project’s financial performance or its adherence to budgetary constraints.
Option C: Is the project on budget?
This option directly addresses a key financial metric—whether the expenditures align with the planned budget. Staying on budget is a fundamental aspect of financial evaluation in any project, especially in Six Sigma, where cost efficiency is paramount.
Option D: Is the project progressing as planned?
Similar to option A, this question pertains more to schedule adherence and progress tracking rather than financial evaluation.
In summary, option C is the most appropriate choice as it specifically relates to monetary evaluation criteria by assessing whether the project’s expenses are within the allocated budget, which is crucial for effective project tracking and management in Six Sigma methodologies.
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