Exam (elaborations)
PMBOK Chapter 7 Project Cost Management Questions And Answers
- Course
- Institution
PMBOK Chapter 7 Project Cost Management Questions And Answers...
[Show more]
Content preview
PMBOK Chapter 7 Project Cost ManagementQuestions And Answers
Project Cost Management includes all of the following processes EXCEPT
Level resources
The cost management plan has all of the following characteristics EXCEPT:
It is based on project cost estimates and is separate from the project management plan
All of the following are true about cost estimates EXCEPT:
Information in the risk register should not be considered in cost estimates, because
risks can be either considered threats or opportunities and their impacts tend to
balance out
An activity cost estimate includes all of the following resource categories EXCEPT:
Time shortages
Parametric estimating involves:
Using a statistical relationship between relevant historical data and other variables to
calculate a cost estimate for project work
Analogous cost estimating:
The actual cost of previous, but similar projects serves as basis for determining the cost
estimate of the current project.
Which of the following represents processes concerned with establishing and
controlling the cost baseline?
, Determine Budget and control costs
The cost baseline has all of the following characteristics EXCEPT:
It shows the actual cost expenditures throughout the project life cycle
The following are included in project cost control EXCEPT:
Allocation of overall estimates to lower work packages to establish the cost baseline
Image 1: You have been promoted to the position of project manager on a large project,
due to the abrupt transfer of the previous PM. On the first day in your new, exciting
position, you find a folder on your desk entitled: Earned Value Management. In that
folder, you find only the chart related to your project with the data date of a few days
ago:
The project is over budget and probably behind schedule.
BAC = 200
PV = 100
AC = 120
EV = 80
Assuming all future work will be performed at the budgeted rate, the estimate at
completion (EAC) is:
240
BAC = 200
PV = 100
AC = 120
EV = 80
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Easton. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now