The Cost Estimates of Individual Activities

The Cost Estimates of Individual Activities
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The Cost Estimates of Individual Activities
Question 169: You are aggregating the cost estimates of individual activities and
work packages to establish an authorized cost baseline. Which PMBOK ® Guide process
are you engaged in?
A: Budget Preparation
B: Determine Budget
C: Estimate Costs
D: Cost Performance Baseline
Question 170: You have spent time with your team developing individual cost
estimates and are now using the project schedule to determine your project budget.
Which of the following inputs would you not find helpful to complete this work?
A: Cost baseline
B: Basis of estimates
C: Activity cost estimates
D: Scope baseline
The Cost Estimates of Individual Activities
Question 171: What is the authorized time-phased budget at completion used to
measure, monitor, and control overall cost performance on the project more commonly
known as?
A: Approved project budget
B: Cost baseline
C: Activity cost estimate
D: Total funding requirements
Question 172: You are monitoring the status of the project to update the project
budget and manage changes to the cost baseline. Which PMBOK ® Guide process best
describes the work are you carrying out?
A: Determine Budget
B: Control Costs
C: Earned Value Management
D: Cost Aggregation
CHAPTER 1 ■ QUESTIONS
46
Question 173: While using a technique that gathers a number of key metrics to
assess, track, and forecast variances in both project cost and time, you discover that the
tool is being used without all the required inputs. Which of the following inputs would
you not require to use this particular technique?
A: Work performance information
B: Earned value
C: Planned value
D: Actual cost
Question 174: After measuring your project performance you note that your
schedule variance is $75,000. What would your BEST course of action be?
A: Immediately begin fast tracking the schedule to catch up time.
B: Ask your project sponsor for extra funds to crash the
schedule to catch up time.
C: Congratulate your project team on doing well with the
project but also submit the information through the approved
change control process so that any updates required can be
made to the schedule baseline documents.
D: Do nothing because everything is going well on your
project and you are obviously a good project manager.
Question 175: The earned value on your project is $15,000, the planned value is
$20,000, and the actual cost is $18,000. What is your schedule variance?
A: -$3,000
B: $5,000
C: $3,000
D: -$5,000
Question 176: The earned value on your project is $18,000, the planned value is
$20,000, and the actual cost is $15,000. What is your cost variance?
A: $3,000
B: -$3,000
C: $2,000
D: -$2,000
CHAPTER 1 ■ QUESTIONS
47
The Cost Estimates of Individual Activities
Question 177: The earned value on your project is $26,000, the planned value is
$20,000, and the actual cost is $18,000. What is your schedule variance?
A: $6,000
B: $8,000
C: -$8,000
D: $2,000
Question 178: The earned value on your project is $52,000, the planned value is
$51,000, and the actual cost is $49,000. What is your cost variance?
A: $3,000
B: $2,000
C: $1,000
D: -$1,000
Question 179: A new junior project manager seems to be having some difficulty
understanding key terms used in the reports being prepared for the project. He is
particularly confused by the earned value management system and the approved project
budget. You explain to him that there are easy ways to understand what each element
means and demonstrate this by point out that the total planned value of the project is
better known as what?
A: Approved project budget
B: Cost baseline
C: Actual cost
D: Budget at completion
Question 180: What is the term for the measurement of the authorized work that has
been completed and the authorized budget for such completed work?
A: Cost baseline
B: Earned value
C: Actual cost
D: Budget at completion
Question 181: You are a project manager on a large software project using the
earned value reporting system to manage your project. At this point in time, the EV is
$24,000, the BAC is $97,000, the PV is $29,000, and the AC is $45,000. What is the percent
complete?
A: 30%
B: 25%
C: 46%
D: 53%
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