Order Project Cost Management Discussion

Order Project Cost Management Discussion
Order 5993847
Order Project Cost Management Discussion
Question 155: You have finished putting together your project budget and notice that
there is a point at which cost and staffing levels are highest. At which point in the project
would this generally be?
A: Starting the project.
B: Organizing and preparing.
C: Carrying out the work.
D: Closing the project.
Question 156: You are completing the work of aggregating the estimated costs of
individual activities or work packages to establish an authorized cost baseline. What
PMBOK® Guide process are you completing?
A: Cost Performance Baseline
B: Estimate Costs
C: Control Costs
D: Determine Budget
Question 157: You have completed the work required to develop your cost
management plan and are introducing it to your team members so that they are aware of
its purpose and limitations. The cost management plan can establish all of the following
except?
A: Units of measure
B: Level of accuracy
C: Activity definition
D: Control thresholds
Question 158: Costs that cannot be directly traced to a specific project and are
accumulated and allocated equitably over multiple projects are known as what?
A: Indirect costs
B: Direct costs
C: Allocatable costs
D: Non-projectized costs
Question 159: While completing the processes required to develop an approved
project budget, you have started the work required to estimate costs on your project. In
order to do this successfully, you should have access to several important inputs. Which
of the following is not an input you would find useful to complete this work?
CHAPTER 1 ■ QUESTIONS
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A: Activity cost estimates
B: Project schedule
C: Risk register
D: Scope baseline
Order Project Cost Management Discussion
Question 160: Which of the following is not an Organizational Process Asset you
would consider when estimating costs on your project?
A: Historical information
B: Cost-estimating templates
C: Market conditions
D: Lessons learned
Question 161: You are estimating the costs in your project and are using information
from a previous, similar project as the basis for estimating in your current project. What
technique are you using?
A: Parametric estimating
B: Analogous estimating
C: Three-point estimating
D: Published estimating data
Question 162: You and your team are currently breaking down all the project
deliverables into the smallest useful unit so that you can then estimate costs for each of
these units and then aggregate these estimates into a total project cost estimate. What is
the name of the technique you are using to estimate costs?
A: Parametric estimating
B: Bottom-up estimating
C: Low-level estimating
D: Project management software
Question 163: While developing individual costs estimates for work packages
on your project, you use a technique that requires you to use a statistical relationship
between historical data and other variables to calculate a cost estimate for a schedule
activity resource. What is this estimating technique more commonly referred to as?
A: Statistical estimating
B: Bottom-up estimating
C: Parametric estimating
D: Top-down estimating
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Question 164: Your project sponsor has asked you to provide a cost estimate quickly
to give the project steering group an idea of what the costs for a particular work package
will be. Which of the following estimating techniques would you choose to use?
A: Analogous estimating
B: Parametric estimating
C: Resource rate estimating
D: Bottom-up estimating
Order Project Cost Management Discussion
Question 165: While completing the cost estimating process for a particular activity
in your project, several members of your team disagree over the estimate to do the work.
After a discussion with the team, you determine that the most likely cost of the activity
will be $25, the optimistic cost of the activity will be $15, and the pessimistic cost will be
$70. Using the three-point estimating technique, what is the expected cost of the activity?
A: $110
B: $36.66
C: $30.83
D: $25.83
Question 166: While completing the cost estimating for a particular activity in your
project, several members of your team disagree over the estimate to do the work. After a
discussion with the team, you determine that the most likely cost of the activity will be
$50, the optimistic cost of the activity will be $30, and the pessimistic cost will be $70.
Using the three-point estimating technique, what is the expected cost of the activity?
A: $150
B: $25
C: $70
D: $50
Question 167: During your cost estimating you include a figure for cost uncertainty
on your project, and the project sponsor agrees to give you delegated authority to manage
this reserve. What is this figure generally known as?
A: Reserve analysis
B: Contingency reserve
C: Management reserve
D: Slush fund
Question 168: You are using the three-point estimating method of scheduling for a
project. The variance for the project is found to be 16 days and the duration of the project
is found to be 90 days. What is the range of values for the project duration such that there
will be at least a 95% probability that the actual project completion will fall between the
high and low value of the range of values?
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A: 58-122 days
B: 74-106 days
C: 82-98 days
D: 86-94 days
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