New PMP Question & Answers with explanation
Your project is midway through a delivery schedule. As the project manager, you want to determine how much work remains. Which is the most accurate way to determine the remaining work the project team must carry out?
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A project is estimated to cost $50,000 with a timeline of 50 days. After 25 days, the project manager finds that 50 percent of the project is complete and actual costs are $50,000. What is the Cost Performance Index (CPI)?
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Contingency Reserves are estimated costs to be used at the discretion of the project manager to deal with:
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The Cost Performance Baseline is a time-phased budget and is used as a basis to measure, monitor, and control overall cost performance of the project. It is usually displayed in the form of:
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You are in the initiation phase of your project, and you believe the project can be completed for $100,000. However, you are an experienced project manager and know that many things can happen between the initiation phase and the closure of the project. In the project charter, you have provided an estimate of $75,000 to $175,000. This is an example of:
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