New PMP Question & Answers with explanation
Breaking down project activities into smaller components in order to obtain a more accurate cost estimate and then aggregating the estimates of the lower-level components is:
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Costs incurred in one area of a project can offset costs in another area of the same project. However, it is not enough to consider only the costs of project execution when making project decisions. What other costs external to the project must also be considered?
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Megawatt is estimating the expected cost of a new ERP system deployment project using the actual costs of an earlier similar ERP system deployment project as the basis for the cost. This is what type of estimating?
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The Earned Value Management methodology can be used to:
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Large variations in the periodic expenditure of funds are undesirable for organizational operations. Therefore, the expenditure of funds is frequently reconciled with the disbursement of funds for the project. According to the PMBOK, this is known as:
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