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197 New PMP Cost Questions & Answers with explanation

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?
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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?
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Value analysis is performed to get:
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Advantage of bottom-up estimates
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During which project management process group are budget forecasts created?
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In which part of the cost management process is earned value (EV) used
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You are reviewing the expense report form one of your team members when you notice a payment he made in another country. You think the payment is bribe. What is your first course of action
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Which of the following is an example of a parametric estimate?
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You are a project manager for a small construction project. Your project was budgeted for u.s. $72,000 over a six week period. As of today, you've spent u.s. $22,000 of your budget to complete work that you originality expected would cost u.s. $24,000. According to your schedule, you should have spent u.s. $30,000 by this point. Based on these circumstances, your project could be best described as:
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A definitive estimate is in a range from
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