PMP Questions ID 2119 the approximate resource costs necessary for completing project activities are compiled during wh

The approximate resource costs necessary for completing project activities are compiled during which project management process

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Estimate costs

Cost aggregation

Funding limit reconciliation

Forecasting

You just completed a cost estimate on the project, and you're assuming there is a 15 per chance you will exceed this estimate. You are

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Below the mean

Above the mean

Below the median

Above the median

The planned announcement is a closely guarded secret, as the organization does not want the competition to attempt to steal secrets or deflect media attention the project is over budget to date. Which of the following is not a reason this could have occurred?

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Work was done inefficiently

There was a cost increase from the supplier

More work than planned was accomplished

Work was delayed

The customer responsible for overseeing your project asks you to provide a written cost estimate that is 30% higher than your estimate of the project's cost. He explained that the budgeting process requires managers to estimate pessimistically to ensure enough money is allocated for projects. What is the best way to handle it

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Ask for information on risks that would cause your estimate to be too low

Create one cost baseline for budget allocation and a second one for the actual project management plan

Add the 30% to your cost estimate by spreading it evenly across all project activites

Add the 30% as a lump sum conginency fund to handle project risks

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Within a range of -10per to +25per of actual

The most expensive to create

Created during the initiating process group

A level of estimating that can be achieved without the team's help

New PMP Question & Answers with explanation