PMP Questions ID 2074 your manager has asked you for a cost baseline for the project but it is early in the project ma

Your manager has asked you for a cost baseline for the project, but it is early in the project management process and there is very little project information. In this circumstance, what is the best way to estimate this project?

Select one

Ask the team for estimates of each activity.

Calculate an estimate using the schedule model.

Extrapolate from historical data.

Provide a rough order of magnitude estimate.

PMP Question No 2073 - Cost

Which estimating method tends to be most costly for creating a project cost estimate?

Select one

Bottom-up

Parametric

50/50

Analogous

Answer

PMP Question No 2072 - Cost

You are having difficulty estimating the cost of a project. Which of the following best describes the most probable cause of your difficulty

Select one

Lack of historical records from previous projects

Lack of company processes

Inadequate scope definition

Unavailability of desired resources

Answer

PMP Question No 2071 - Cost

To-complete performance index (TCPI) is represented by which of the following?

Select one

A measure of progress achieved compared to progress planned

(BAC-EV)/(BAC-AC)

AC + (BAC - EV)

A measure of the value of work completed compared to the actual cost or progress

Answer

PMP Question No 2070 - Cost

`project setup costs are an expampel of:

Select one

Variable costs

Overhead costs

Opportuinty costs

Fixed costs

Answer