PMP Questions ID 2109 monitoring cost expended to date in order to detect variances from the plan occurs during

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New PMP Question & Answers with explanation

Monitoring cost expended to date in order to detect variances from the plan occurs during:

Select one

The creation of the cost change management plan.

Updating the cost baseline.

Project performance reviews.

Recommending corrective actions.

PMP Question No 2108 - Cost

You have estimated the project cost to be us $850k within -25/+75 percent of actual. This is a

Select one

Budget estimate

Definitive estimate

Parametric estimate

Rough order of magnitude estimate

Answer

PMP Question No 2107 - Cost

The cost contingency reserve should be:

Select one

Added to each activity to provide the customer with a shorter critical path.

Maintained by management to cover cost overruns.

Hidden to prevent management from disallowing the reserve.

Added to the base costs of the project to account for risks.

Answer

PMP Question No 2106 - Cost

Your project has a AC = $800million, PV = $890millions, and a CPI = 1.1. How is the project going?

Select one

The project is behind schedule

There is enough money to support an offsite team outing

Both the schedule and the budget are better than planned

You have no real concerns about either schedule or budget

Answer

PMP Question No 2105 - Cost

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

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

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

Answer