196 New PMP Cost Questions & Answers with explanation
141.
What does a Cost Performance Index (CPI) of more than 1.0 indicate?
Select one
142.
A project was estimated to cost $200,000 with a timeline of 10 months. Due to a shipment delay, the schedule was slightly delayed. However, this was made up by shipping the first batch of materials for the project by air. The net result was that there was some additional cost in the project. At the end of the second month, the Project Manager reviews the project and finds that the project is 20% complete and Actual Costs are $50,000. The Estimate to Complete (ETC) for the project would now be:
Select one
143.
The Cost Management Plan is an output of the Plan Cost Management process. This plan is then integrated with other project plans in which of these processes?
Select one
144.
A project’s financial management reserves are determined in which process:
Select one
145.
Your vice president asked you what the Estimate at Completion (EAC) will be for a small project you are working on. You were given a budget of $30,000, and to date you have spent $20,000 but only completed $10,000 worth of work. You are sure the future work will be accomplished at the planned rate. What is the EAC?
Select one
146.
You are in the initiation phase of your project, and you believe the project can be completed for $100,000. However, you are an experienced project manager and know that many things can happen between the initiation phase and the closure of the project. In the project charter, you have provided an estimate of $75,000 to $175,000. This is an example of:
Select one
147.
A project manager is performing Reserve Analysis as a technique in one of the project management processes he is currently working on. Which of the following is likely to be that process?
Select one
148.
The cost of running a project management office is an example of what type of cost?
Select one
149.
You are a project manager who is in charge of an important project for your company. The project is 40 percent complete after three months and has cost $350,000. The budget for the project is $950,000 and is scheduled to last eight months. How is the project performing?
Select one
150.
Rick, a project manager, is updating the status of his project. Based on the performance indices, he expects the project to finish a month earlier than the planned finish date. However, he expects the project to exceed the budgeted costs. What can you say about the schedule performance index (SPI) of the project?
Select one