PMP Questions ID 2101 you have always been asked by your management to cut your project cost estimates by 10 percent af

You have always been asked by your management to cut your project cost estimates by 10 percent after you submitted them. The scope of your new project is unclear, and there are over 30 stakeholders. Management expects a 25 percent reduction in downtime as a result of the project. Which of the following is the best course of action in this situation?

Select one

Reduce the estimate and note the change in the risk response plan

Replan to achieve a 35 percent improvement in downtime

Meet with the team to identify where you can find 10 percent savings

Provide an accurate estimate of the actual costs and be able to support your estimate

PMP Question No 2100 - Cost

Your organization is hoping to meet its strategic objective to grow the business by expanding to foreign markets. Since working with international sellers is new to you as a project manager you are researching potential issues others have encountered on international projects. You have learned of situations where issues have arisen due to illegal payments. Which e following payments on an international project is unacceptable?

Select one

Offering to pay the country officials for not awarding the project to a particular company

Payment for mail service

Payment for police protection

Payment for a foreign workers application license required in the country

Answer

PMP Question No 2099 - Cost

Which of the following defines things the project manager needs to do regarding cost

Select one

Meet any agreed-upon estimates, estimate larger-sized work components, and accept constraints from management.

Never just accept constraints from management, periodically recalculate the estimate to complete and meet any agreed-upon estimate.

Periodically recalculate the estimate to complete, increase estimates by eliminating risks, and reestimate when changes are requested

Never recalculate the estimate to complete, never just accept constraints from management, and only use historical records forr accurate estimates

Answer

PMP Question No 2098 - Cost

While reviewing project performance, the project manager determines that the schedule variance is -500. What is the best thing to do

Select one

Move resources from the project to one that is not failing

Let the sponsor know

Determine the cost variance

Look for activites that can be done in parallel

Answer

PMP Question No 2097 - Cost

One common way to compute estimate at completion (EAC) is to take the budget at completion (BAC) and:

Select one

Multiply by spi

Divide by spi

Divide by cumulative cpi

Multiply by cpi

Answer