PMP Questions cost knowledge page 6

51.

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

Select one

File a permit authorizing the team to make such payments

Contact the payee in the other country and ask if the payment was a bribe

Seek legal advice

Ignore the problem, it is in the past

Select one

Learning bend

Bottom-up

CPM

Dollars per module

53.

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:

Select one

Over budget

On budget

Not having enough information provided

Under budget

Select one

(25 per) to 75 per from actual

(10 per) to 25 per from actual

(-30 per) to 40 per from actual

(10 per) to 10 per from actual

Select one

Rules for measuring team performance, the level of accuracy needed for estimates, specifications for how estimates should be stated

The level of accuracy needed for estimates, rules for measuring cost performance, specifications for how duration estimates should be stated

Specifications for how estimates should be stated, the level of risk needed for estimates, rules for measuring cost performance

Specifications for how estimates should be stated, rules for measuring cost performance, the level of accuracy needed for estimates

56.

Your company is undergoing a change in ownership and the new owners are looking at the total cost of a new product. Which of the following would best provide that information

Select one

Earned value

Net present value

Life cycle cost

Estimate at completion

57.

You are tracking your project using earned value management (evm) and find you are behind schedule but under budget. Your variances show schedule variance (SV) = -us $50 million, cost variance (CV) = $100 million, and your actual costs are us $500 million. What are the cpi, pv and spi?

Select one

0.92, $650 million, 1.08

1.2, $650 million, 0.92

1.2, -$100million, 0.92

0.92, $550 million, 1.2

58.

A project manager has just been notified of a cost increase by a seller. He looks at the contract and determines that the seller has the right to pass along this cost increase. The project manager should fist determine if

Select one

The activity is on the critical path

There is a reserve to handle the change

Another seller can provide it at the orginal cost

Another activity can save money

Select one

The anticipated total cost at project completion.

Each anticipated cost for the project

Estimated average cost at project completion

Anticipated expenses at project completion

60.

The project sponsors have asked you to assess the feasibility of meeting the objectives and cost constraints. .why should you use analogous estimating

Select one

It gains buy-in from the team because the team creates the estimates

It is more accurate than bottom-up estimating

It provides a basis for monitoring and controlling and performance measurement

It is faster

196 New PMP Cost Questions & Answers with explanation