PMP Questions ID 2087 how close to actual costs should a definitive budget estimate be

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New PMP Question & Answers with explanation

How close to actual costs should a definitive budget estimate be

Select one

10 per to (25 per)

+/-15per

(5per) to 10 per

(75 per) to 25 per

PMP Question No 2086 - Cost

Which of the following is a key way to improve activity cost estimates

Select one

Use historical data

Let management create the management reserve and the activity cost estimates

Let the project manager create the activity cost estimates

Base activity estimates on the upper and lower control limits

Answer

PMP Question No 2085 - Cost

The plan cost management process addresses all the following except

Select one

Specifications for how estimates will be stated

How project risks will be identified

Whether to use existing funds or borrow money to finance the project

Corrective actions needed to bring the project back on track

Answer

PMP Question No 2084 - Cost

You are managing a new oil purification project in a foreign country. A person informs you that you will have to pay him a "transfer fee" for the permit to move heavy equipment through the city. What is the first thing you should do?

Select one

Make sure the person is really a government official

Negotiate openly with the city officials

Do not pay the fee

Pay the fee, but only to the city

Answer

PMP Question No 2083 - Cost

A cost management plan contains a description of:

Select one

The budgets and how they were calculated.

The project costs.

How resources are allocated.

The WBS level at which earned value will be calculated.

Answer