PMP Questions ID 2137 during the conceptual phase of a pipeline project the project engineer estimates the following

During the conceptual phase of a pipeline project, the project engineer estimates the following. The cost of the materials is most likely us $100,000, optimistically u $90,000, and pessimistically us $120,000. The cost for labor is most likely us $80,000, optimistically us $70,000, and pessimistically us $100,000. The cost for equipment is most likely us $60,000, optimistically us $50,000, and pessimistically us $70,000. The cost for construction management fees is most likely us $30,000, optimistically us $20,000, and pessimistically us $40,000. What is the probability of the project coming in under us $270,000?

Select one

Zero

Exactly 50 percent

Over 50 percent

Less than 50 percent

PMP Question No 2136 - Cost

Value analysis is performed to get:

Select one

A less costly way of doing the same work.

The team to buy into the project.

Management to buy into the project.

More value from the cost analysis.

Answer

PMP Question No 2135 - Cost

Advantage of bottom-up estimates

Select one

Overall project costs will be capped

They are less costly to creat

They are more accurate

They require good project definition before estimating begins

Answer

PMP Question No 2134 - Cost

During which project management process group are budget forecasts created?

Select one

Planning

Monitoring and controlling

Initiating

Executing

Answer

PMP Question No 2133 - Cost

In which part of the cost management process is earned value (EV) used

Select one

Creating the cost base line the cost control system

Performance measurement analysis and variance management

Reserve analysis and cost aggregation

Forecasting and project performance reviews

Answer