New PMP Question & Answers with explanation
The Cost Management Plan is an output of the Plan Cost Management process. This plan is then integrated with other project plans in which of these processes?
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A project was estimated to cost $200,000 with a timeline of 10 months. Due to a shipment delay, the schedule was slightly delayed. However, this was made up by shipping the first batch of materials for the project by air. The net result was that there was some additional cost in the project. At the end of the second month, the Project Manager reviews the project and finds that the project is 20% complete and Actual Costs are $50,000. The Estimate to Complete (ETC) for the project would now be:
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Martin is the project manager of a project that is in an early phase. He needs to estimate costs but finds that he has a limited amount of detailed information about the project. Which of the following estimation techniques is least suited to his requirements?
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What does a Cost Performance Index (CPI) of more than 1.0 indicate?
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While analyzing a project, the project manager calculated the ratio of the Earned Value (EV) to the Actual Costs (AC) and obtained a value of 1.2. The project manager decided this was an unfavorable condition for the project and decided to take corrective action. What is your view?
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