196 New PMP Cost Questions & Answers with explanation
11.
Your manager has asked you for a cost baseline for the project, but it is early in the project management process and there is very little project information. In this circumstance, what is the best way to estimate this project?
Select one
12.
Your company wants to assign a resource to your project and asks you to bill that resource to the customer. This concerns you because you get a bonus for maximizing billings to the customer. What is the best thing to do?
Select one
13.
The success of your new project requires several of your people to work in a foreign country for six months. The team informs you that in this country a payment is required to obtain visas. The payment for the visas is high. The economy has recently become volatile. Some stakeholders question the need for the project and the benefits it will produce. Leadership has told you that this project is aligned with the organization's direction for the year. What should you do?
Select one
14.
Although the stakeholders thought there was enough money in the budget, halfway through the project the cost performance index (CPI) is 0.7. To determine the root cause, several stakeholders audit the project and discover the project cost budget was estimated analogously. Although the activity estimates add up to the project estimate, the stakeholders think something was missing in how the estimate was completed. Which of the following describes what was missing?
Select one
15.
Payment for any decision made or encouraged by a foreign official with respect to whether a company will be awarded a project is best described as:
Select one
16.
A project manager is finalizing a project that has had repeated problems with cost conformance. He is concerned about what management will say. Senior managers have talked about the problems multiple times in their executive meetings, and it's been reported they feel their concerns have not been addressed. Which of the following types of information would be best for the project manager to use to evaluate performance?
Select one
17.
A project has run into cost difficulties. The project scope must be completed, but at less cost. The project manager should:
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18.
The project has reached a stage where work is being done in seven countries. Project team members need to know in which currency they are to report their cost data. Which of the following should they reference?
Select one
19.
You are managing a hotel construction project, and you have asked your project team to calculate the current earned value metrics to determine the project performance. Your team reports back that the project's to-complete performance index (TCPI) is 0.9 based on the budget at completion (BAC). Which of the following is true regarding your project's current situation as reflected by this TCPI value?
Select one
20.
You are the project manager for Wicked Fast Cars Corp. You are working on a project for the Human Resources department that is scheduled to take one year. After three months into the project, you calculate the EV at $35,000 and the PV at $45,000. Which option below represents the value for the SV?
Select one