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197 New PMP Cost Questions & Answers with explanation

61.
The cost contingency reserve should be:
Select one
62.
Your project has a AC = $800million, PV = $890millions, and a CPI = 1.1. How is the project going?
Select one
63.
Cost performance measurement is best done through which of the following?
Select one
64.
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
65.
Your cost forecast shows that you will have a cost overrun at the end of the project. Which of the following should you do?
Select one
66.
What would be the best explanation for the following: both the cost variance and schedule variance are negative, but the cost variance is lower than the schedule variance
Select one
67.
You have always been asked by your management to cut your project cost estimates by 10 percent after you submitted them. The scope of your new project is unclear, and there are over 30 stakeholders. Management expects a 25 percent reduction in downtime as a result of the project. Which of the following is the best course of action in this situation?
Select one
68.
Your organization is hoping to meet its strategic objective to grow the business by expanding to foreign markets. Since working with international sellers is new to you as a project manager you are researching potential issues others have encountered on international projects. You have learned of situations where issues have arisen due to illegal payments. Which e following payments on an international project is unacceptable?
Select one
69.
Which of the following defines things the project manager needs to do regarding cost
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70.
While reviewing project performance, the project manager determines that the schedule variance is -500. What is the best thing to do
Select one