PMP Questions ID 1254 john a project manager for code crashers inc has a project with a group of inexperienced prog

John, a project manager for Code Crashers, Inc., has a project with a group of inexperienced programmers that will develop a software package that creates Material Safety Data Sheets (MSDS) for a chemical company. This situation strongly resembles a project his colleague, Peter, worked on in 2006. If John needs to come up with a rough order of magnitude estimate, what tool or technique should he use?

Select one

Parametric Estimating

Bottom Up Estimating

Three-point estimate

Analogous Estimating

PMP Question No 1244 - Cost

A project’s financial management reserves are determined in which process:

Select one

Estimate Costs

Determine Budget

Control Costs

Estimate Activity Resources

Answer

PMP Question No 1227 - Cost

Analogous Cost Estimating is which of the following?

Select one

Uses statistical relationship between historical data and other variables

Generally less accurate

Bottom-up estimating

Generally accurate

Answer

PMP Question No 1219 - Cost

Although the business value is unique to each organization, each organization strives to attain business value for its activities. Which of the following does NOT create value for an organization?

Select one

Escalation of commitment on projects involving significant sunk cost

Effective management of ongoing operations

Strategic alignment of project objectives

Successful management of nonprofit business-related activities

Answer

PMP Question No 1215 - Cost

What does it mean if the Earned Value is equal to Actual Cost?

Select one

Schedule Variance Index is 1

Project is on budget and on schedule

There is no cost variance

There is no schedule variance

Answer