PMP Questions ID 2105 cost performance measurement is best done through which of the following

Select one

Using the 50/50 rule and making sure the life cycle cost is less than the project cost

Asking for a percent complete from each team member and reporting that in the monthly progress report

Calculating earned value and using the indexes and other calculations to report past performance and forecast future performance

Focusing on the amount expended last month and what will be expended the following month

Although the stakeholders thought there was enough money in the budget, halfway through the project the cost performance index (CPI) is 0.7. To determine the root cause, several stakeholders audit the project and discover the project cost budget was estimated analogously. Although the activity estimates add up to the project estimate, the stakeholders think something was missing in how the estimate was completed. Which of the following describes what was missing?

Select one

The project underspent, because costs were lower than planned and activities were easier to complete than planned

The project overspent due to increased costs and yet completed some activities faster

The project activities took longer then excepted, but cost were lower

The project underspent because all work was not completed, but overspent work that was completed

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

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

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

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

Replan to achieve a 35 percent improvement in downtime

New PMP Question & Answers with explanation