PMP Questions ID 1867 the actual cost ac is the total cost actually incurred and recorded in accomplishing work perfo

The Actual Cost (AC) is the total cost actually incurred and recorded in accomplishing work performed for an activity or work breakdown structure component. What is the upper limit for the AC?

Select one

100 percent over and above the Planned Value (PV)

There is no upper limit for the Actual Cost (AC).

50 percent over and above the Planned Value (PV)

The Actual Cost (AC) is limited to the Planned Value (PV).

As part of the Estimate Costs process, a project manager obtained access to certain commercially available databases to get resource cost rate information. Such published commercial information is considered what type of input?

Select one

Enterprise environmental factor

Historical information

Organizational process asset

HR Input

Which of the following structures helps track project costs and can align with the organization’s accounting system?

Select one

Project breakdown structure (PBS)

Matrix breakdown structure (MBS)

Work Breakdown Structure (WBS)

Organizational breakdown structure (OBS)

Jackie is the project manager of a large project. During the Determine Budget process, she identifies that contingency reserves need to be set up for unplanned but potentially necessary changes that could result from realized risks identified in the risk register. Which of the following is true about reserves?

Select one

Management Reserves are not a part of project cost baseline, but will be included in the total budget for the project

Contingency Reserves are not a part of project cost baseline, but will be included in the total budget for the project

Both the Management Reserves and the Contingency Reserves are part of project cost baseline, and they are also not included in the total budget for the project

Both the Management Reserves and the Contingency Reserves are not part of project cost baseline, but they are included in the total budget for the project

A project manager is estimating project costs and needs to decide whether the estimates will include direct costs only or include indirect costs, as well. In which of the following phases does this decision need to take place?

New PMP Question & Answers with explanation