Cos 2

You are the project manager for a system upgrade project. The practice at your company is to estimate project cost based on historical data and statistical analysis. This cost estimation technique is called?

Which of the following represents processes concerned with establishing and controlling the cost baseline??

The Cost Performance Baseline is a time phased budget and is used as a basis to measure, monitor and control overall cost performance of the project. It is usually displayed in the form of:?

Which of the following process sequences is correct?:?

The project planning is progressing. The team is using historical data and expert opinion to attempt to get a total price for the project. This process is known as what?

The value of all work that has been completed so far is:?

Which of the following metrics would tell the Project Manager the status of the schedule on a project??

You are managing a project that is part of a large construction program. During the execution of your project you are alerted that the construction of a foundation is expected to experience a serious cost overrun. What would be your FIRST course of action?

Your schedule analysis has shown that your project has a high likelihood of experiencing a schedule overrun. You know this because the cumulative EV is much:?

The warehouse expansion project is in the middle of planning when the Project Manager presents a status reporting method to the team. It’s called Earned Value Technique. To attain buy-in from the team, the Project Manager begins to explain what Earned Value status reporting can do for the project, explaining that it will measure which of the following:

Your best cost estimate for an activity is $200,000, but the estimate you document has a range of $ 150,000 to $350,000. This ranged estimate represents a:

The Project Manager has just received the charter. He is preparing an initial estimate called a rough order of magnitude (ROM) estimate. What is the range of an order of magnitude (OOM) estimate?

Which of the following measurements would a Project Manager use to track the efficiency of the progress of the schedule??

The project planning is progressing. But the team has become frustrated working with the accounting department to set up a system of codes that the accounting department will use to track work on the project. This is known as what?

Which of the following cumulative measures indicates that your project is 9% under budget??

The cost performance baseline has all of the following characteristics EXCEPT:?

The Project Manager and team are aggregating cost amounts of the pieces of the work packages and tasks. Which of the following processes are they performing??

The project management team has performed earned value analysis on its project and discovered that the project is behind schedule and over budget. The SPI is 0.91 and the CPI is 0.62. The team is trying to determine how efficient it will need to be with the remaining resources on the project to complete the project on budget. Which of the following is the team trying to calculate?

The project team is planning an upgrade to an electrical capacity for the manufacturing facility. During planning, the team members are confronted with the cost options for a new circuit that helps minimize the usage on the machinery. They consider the cost of purchasing the circuit for the time they need to develop the project. After that, the customer would take over the costs of the circuit. They are also considering a long-term commitment that the customer can make with the utility provider, which would provide a less costly solution over the use of the system. What type of analysis is the team considering?

Which of the following measurements would the Project Manager use to show the remaining amount to be spent on the project based on current spending efficiency??