Monitoring cost expended to date in order to detect variances from the plan occurs during:

Monitoring cost expended to date in order to detect variances from the plan occurs during: A. The creation of the cost change management plan. B....

The project manager is allocating overall cost estimates to individual activities to establish a baseline for measuring project performance. What process is this?

The project manager is allocating overall cost estimates to individual activities to establish a baseline for measuring project performance. What process...

You have just completed the initiating processes of a small project and are moving into project planning when a project stakeholder asks you for the project's budget and cost baseline. What should you tell her?

You have just completed the initiating processes of a small project and are moving into project planning when a project stakeholder asks you for the...

Early in the life of your project, you are having a discussion with the sponsor about what estimating techniques should be used. You want a form of expert judgment, but the sponsor argues for analogous estimating. It would be BEST to:

Early in the life of your project, you are having a discussion with the sponsor about what estimating techniques should be used. You want a form of...

Your cost forecast shows that you will have a cost overrun at the end of the project. Which of the following should you do?

Your cost forecast shows that you will have a cost overrun at the end of the project. Which of the following should you do? A. Eliminate risks in...

You are having difficulty estimating the cost of a project. Which of the following BEST describes the most probable cause of your difficulty?

You are having difficulty estimating the cost of a project. Which of the following BEST describes the most probable cause of your difficulty? A. Inadequate...

The cost contingency reserve should be:

The cost contingency reserve should be:  A. Hidden to prevent management from disallowing the reserve. B. Added to each activity to provide the...

Your project has a medium amount of risk and is not very well defined. The sponsor hands you a project charter and asks you to confirm that the project can be completed within the project cost budget. What is the BEST method to handle this?

Your project has a medium amount of risk and is not very well defined. The sponsor hands you a project charter and asks you to confirm that the project...

Which of the following are ALL items included in the cost management plan?

Which of the following are ALL items included in the cost management plan?  A. The level of accuracy needed for estimates, rules for measuring...

Which of the following represents the estimated value of the work actually accomplished?

Which of the following represents the estimated value of the work actually accomplished?  A. Earned value (EV) B. Planned value (PV) C. Actual...

Which estimating method tends to be MOST costly for creating a project cost estimate?

Which estimating method tends to be MOST costly for creating a project cost estimate? A. Bottom-up B. Analogous C. Parametric D. 50/50 Answer:...

Value analysis is performed to get:

Value analysis is performed to get: A. More value from the cost analysis. B. Management to buy into the project. C. The team to buy into the project. D....

Project setup costs are an example of:

Project setup costs are an example of: A. Variable costs. B. Fixed costs. C. Overhead costs. D. Opportunity costs. Answer: ...

Which type of cost is team training?

Which type of cost is team training? A. Direct B. NPV C. Indirect D. Fixed Answer: ...

During which project management process group are budget forecasts created?

During which project management process group are budget forecasts created?  A. Monitoring and controlling B. Planning C. Initiating D. Executing Answer:...

A cost baseline is an output of which cost management process?

A cost baseline is an output of which cost management process? A. Estimate Activity Resources B. Estimate Costs C. Determine Budget D. Control Costs Answer:...

A rough order of magnitude estimate is made during which project management process group?

A rough order of magnitude estimate is made during which project management process group? A. Planning B. Closing C. Executing D. Initiating Answer:...

Which of the following is an example of a parametric estimate?

Which of the following is an example of a parametric estimate? A. Dollars per module B. Learning bend C. Bottom-up D. CPM Answer: ...

Which of the following is NOT needed in order to come up with a project estimate?

Which of the following is NOT needed in order to come up with a project estimate? A. A WBS B. A network diagram C. Risks D. Change requests Answer:...

A schedule performance index (SPI) of 0.76 means:

A schedule performance index (SPI) of 0.76 means: A. You are over budget. B. You are ahead of schedule. C. You are progressing at 76 percent of the...

A cost performance index (CPI) of 0.89 means:

A cost performance index (CPI) of 0.89 means: A. At this time, we expect the total project to cost 89 percent more than planned. B. When the project...

Cost performance measurement is BEST done through which of the following?

Cost performance measurement is BEST done through which of the following? A. Asking for a percent complete from each team member and reporting that...

The main focus of life cycle costing is to:

The main focus of life cycle costing is to: A. Estimate installation costs. B. Estimate the cost of operations and maintenance. C. Consider installation...

All of the following are outputs of the Estimate Costs process EXCEPT:

All of the following are outputs of the Estimate Costs process EXCEPT: A. An understanding of the cost risk in the work that has been estimated. B....

Analogous estimating:

Analogous estimating: A. Uses bottom-up estimating techniques. B. Is used most frequently during project executing. C. Uses top-down estimating techniques. D....

The customer responsible for overseeing your project asks you to provide a written cost estimate that is 30 percent higher than your estimate of the project's cost. He explains that the budgeting process requires managers to estimate pessimistically to ensure enough money is allocated for projects. What is the BEST way to handle this?

The customer responsible for overseeing your project asks you to provide a written cost estimate that is 30 percent higher than your estimate of the...

If earned value (EV) = 350, actual cost (AC) = 400, and planned value (PV) = 325, what is cost variance (CV)?

If earned value (EV) = 350, actual cost (AC) = 400, and planned value (PV) = 325, what is cost variance (CV)? A. 350 B. -75 C. 400 D. -50 Answer:...

Estimate at completion (EAC) is a periodic evaluation of:

Estimate at completion (EAC) is a periodic evaluation of:  A. The cost of work completed. B. The value of work performed. C. The anticipated...

One common way to compute estimate at completion (EAC) is to take the budget at completion (BAC) and:

One common way to compute estimate at completion (EAC) is to take the budget at completion (BAC) and:  A. Divide by SPI. B. Multiply by SPI. C....