Question 3. How is Cost baseline calculated?

Project Cost Estimates + Contingency Reserves

Question 14. Earned Value (EV) means _____.

What is the value of completed work.

Question 11. What is the planned value?

An authorized budget assigned to complete the work

Question 12. How to calculate Cost Performance Index (CPI)?

A quotient of Earned Value on Actual Cost CV = EV / AC

Question 10. What is the purpose of project cost management?

Complete project within approved budget.

Question 17. What does this graph want to tell us?

The project is time over run (we are behind the schedule)

Question 1. An example of EEF (Enterprise Environmental Factors)?

Organizational culture, processes, and infrastructure

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Chapter 8. Project Cost Management

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Answers

1
Question 3. How is Cost baseline calculated?
Contingency Reserves + Management Reserves
Project Cost Estimates + Contingency Reserves + Management Reserves
Project Cost Estimates + Contingency Reserves
None of the above
2
Question 14. Earned Value (EV) means _____.
How much money earned.
How much finds are spent.
What is the value of completed work.
How much time is spent.
3
Question 11. What is the planned value?
An authorized budget assigned to complete the work
A planned budget assigned to complete the work
The allocated amount of money, contingency reserves and management reserves
The allocated amount of money, plus management reserves
4
Question 9. Which of the following sources provides estimate costs with project schedule?
Risk register
Scope statement
Cost estimate
Develop schedule
5
Question 12. How to calculate Cost Performance Index (CPI)?
A difference between Earned Value and Present Value CV = EV – PV
A quotient of Earned Value on Actual Cost CV = EV / AC
A quotient of Earned Value on Present Value CV = EV / PV
A difference between Earned Value and Actual Cost CV = EV - AC
6
Question 8. What does the Basis of Estimates explain?
Indication of the confidence level of the estimate.
All answers are right.
All units, references and ranges of estimate.
How estimates were developed, documentation on assumptions and constrains.
7
Question 10. What is the purpose of project cost management?
Providing structured reporting about project status.
Provide structured control account for project budget.
Complete project within approved budget.
Ensure that project progress is on budget.
8
Question 16. Who is responsible for realistic and accurate estimation of the project?
Project manager
Project team
Stakeholders
Project sponsor
9
Question 13. During project execution, a project manager performs control costs. What process group is used?
Initiating
Monitoring and controlling
Planning
Executing
10
Question 7. While determining budget a project manager uses _____ processes.
Controlling
Communication
Planning
Executing
11
Question 17. What does this graph want to tell us?
The project is going to be bankrupt
The project is on time.
The project is time over run (we are behind the schedule)
The project is completed before designed schedule.
12
Question 6. Which document provides estimating cost process with the details about the estimating subject?
Project schedule
All are correct
Human resouces plan
Scope baseline
13
Question 1. An example of EEF (Enterprise Environmental Factors)?
Organizational culture, processes, and infrastructure
Standardized guidelines
Work breakdown structure templates
Proposal evaluation criteria
14
Question 15. How to calculate Schedule Performance Index (SPI)?
CV = EV - AC
CV = EV / AC
CV = EV / PV
CV = EV – PV
15
Final question. How many processes are there in Project Cost Management?
5
2
4
3
16
Question 5. Which process aggregates the estimated expenses for work items to determine an authorized cost baseline
determine budget
create control account
perform control cost
estimate costs
17
Question 2. Outputs of Budget determining?
All.
Project funding requirements
Cost baseline
Project documents updates
18
Question 4. Determining budget is a ………. process
executing
communication
planning
controlling

Chapter 8. Project Cost Management Flashcards | StudBud