PMP Questions ID 2090 early in the life of your project you are having a discussion with the sponsor about what estima

Early in the life of your project, you are having a discussion with the sponsor about what estimating techniques should be used. You want a form of expert judgment, but the sponsor argues for analogous estimating. It would be best to:

Select one

Suggest life cycle costing as a compromise.

Agree to analogous estimating, as it is a form of expert judgment.

Try to convince the sponsor to allow expert judgment because it is typically more accurate.

Determine why the sponsor wants such an accurate estimate.

PMP Question No 2089 - Cost

You provide a project cost estimate for the project to the project sponsor. He is unhappy with the estimate, because he thinks the price should be lower. He asks you to cut 15 percent off the project estimate. What should you do?

Select one

Inform the sponsor of the activities to be cut.

Add additional resources with low hourly rates

Tell all the team members to cut 15 percent from their estimates.

Start the project and constantly look for cost savings.

Answer

PMP Question No 2088 - Cost

This has been determined that six additional computers are needed to complete the project. The computers are an example of

Select one

Limited cost

Diminishing cost

Indirect cost

Fixed cost

Answer

PMP Question No 2087 - Cost

How close to actual costs should a definitive budget estimate be

Select one

(75 per) to 25 per

10 per to (25 per)

(5per) to 10 per

+/-15per

Answer

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