PMP Questions ID 2055 you have just completed the initiating processes of a small project and are moving into project p

You have just completed the initiating processes of a small project and are moving into project planning when a project stakeholder asks you for the project's budget and cost baseline. What should you tell her?

Select one

The project budget can be found in the project charter, which has just been completed.

The project management plan will not contain the projects budget and baseline; this is a small project.

The project budget and baseline will not be finalized and accepted until the planning processes are completed.

It is impossible to complete an estimate before the project management plan is created.

PMP Question No 2054 - Cost

While visiting the country where a new branch office is being built, you are told you must pay a us $5,000 fee to the government permit officer to obtain the facility permit required by law to start construction. The construction company tells you this is standard practice and is required by law. If you don't pay the fee, the project could be delayed, which would cost your company money. You have not worked in the country before. You do not speak the official language of the country and are communicating in a shared third language. What should you do?

Select one

Refuse to pay the fee

Pay the fee

Have the customer pay the fee

Have the construction company pay the fee

Answer

PMP Question No 2053 - Cost

Half way through project executing, a team member alerts you to a potential cost overrun for a specific deliverable. What do you do first

Select one

Determine the cause of the overage

Implement a change control process to track the change

Inform the customer

Determine the projected actual cost

Answer

PMP Question No 2052 - Cost

A project has a team member assigned to the project full time. What is the most likely effect on the project if that resource completes her activity sooner than planned?

Select one

Changes to the risk response plan

Lower quality

Wasted cost

A subsequent activity will be delayed

Answer

PMP Question No 2051 - Cost

You are a project manager working on a project that requires 100 items to be tested, spaced evenly over five weeks. You have just begun week three, with an overall budget of us $10,000. To date, you have spent us $2,000 with 40 items tested successfully. What does the cost variance (CV) tell you in this circumstance?

Select one

The project is proceeding at 100 percent of the expected rate.

The project is $2,000 under budget.

The project is on budget.

The project is getting $2 of work for every dollar spent.

Answer