PMP Questions cost knowledge page 10

All Domains

Agile & Scrum

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Process

Business Environment

CLOUD COMPUTING

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Cost

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FIREWALL TYPES & IMPLEMENTATION

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IT STRATEGY COMMITTEE & IT STEERING COMMITTEE

Procurement

Quality

Resource

Risk

Schedule

Scope

Stakeholder

196 New PMP Cost Questions & Answers with explanation

PMP Question No 2087 - Cost

91.

How close to actual costs should a definitive budget estimate be

Select one

(75 per) to 25 per

10 per to (25 per)

(5per) to 10 per

+/-15per

Answer

PMP Question No 2086 - Cost

92.

Which of the following is a key way to improve activity cost estimates

Select one

Use historical data

Let management create the management reserve and the activity cost estimates

Let the project manager create the activity cost estimates

Base activity estimates on the upper and lower control limits

Answer

PMP Question No 2085 - Cost

93.

The plan cost management process addresses all the following except

Select one

Specifications for how estimates will be stated

How project risks will be identified

Whether to use existing funds or borrow money to finance the project

Corrective actions needed to bring the project back on track

Answer

PMP Question No 2083 - Cost

94.

A cost management plan contains a description of:

Select one

The budgets and how they were calculated.

The project costs.

How resources are allocated.

The WBS level at which earned value will be calculated.

Answer

PMP Question No 2082 - Cost

95.

A project manager is analyzing the project to find ways to decrease costs. It would be best the project manager looks at

Select one

Direct costs and variable costs.

Indirect costs and direct costs

Fixed costs and indirect costs

Variable costs and fixed costs.

Answer

PMP Question No 2080 - Cost

96.

The six-month project has 300 work packages and a us $600,000 budget. Three months into the project, 150 work packages are complete and us $300,000 has been spent. Which of the following is correct?

Select one

The project manager should reevaluate cost performance but not worry about time

The project is on time and on budget

There is not enough information

The project needs 50 more work packages to be completed to be on time

Answer

PMP Question No 2079 - Cost

97.

Identified risks are:

Select one

Both an input to and an output of the Estimate Costs process.

An output of the Estimate Costs process.

An input to the Estimate Costs process.

Not related to the Estimate Costs process.

Answer

PMP Question No 2078 - Cost

98.

A project team budgeted us $3,000 for the work performed and has spent us $4,000 to date. If they budgeted us $5,000 for the work sccheduled, what is the cost variance (CV)?

Select one

$2000

($1000)

($2,000)

$1000

Answer

PMP Question No 2077 - Cost

99.

What is the difference between expected monetary value and net present value

Select one

Expected value is the estimated value of the work actually accomplished and net present value is the value of the work to be done.

Expected value is the value it takes to recover your investment and net present value is the value of money.

Expected value is the probability times impact of an opportunity and net present value is the benefits less costs over many time periods.

Expected value is the estimated value of risk response plans and net present value helps determine the value of investments.

Answer

PMP Question No 2075 - Cost

100.

The project manager has been asked to explain what occurred and what will be done to keep to the budget. Which calculation is the project manager likely to use as a measurement tool to analyze this inforrmation?

Select one

EV - AC

EV/PV

BAC'/CPI

EV - PV

Answer