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Cost Management and Cash Flow Flashcards | StudBud
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Cost Management and Cash Flow
Cost Management and Cash Flow
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Questions
10
Answers
1
Which is not required for Notice to Proceed (NTP) Approval?
Client Authorization
Start and end dates
Amount of cost
Certificate of Insurance
2
Which contract type is NOT a framework agreement?
IDIQ (Indefinite Delivery Indefinite Quantity)
Stand Alone
GEC (General Engineering Consultant)
MSA (Master Services Agreement)
3
What does the Cost Management plan NOT identify?
When revenue is earned
How contingency is handled
Who can approve changes
Reporting format and frequency
4
Which is NOT part of the PM's cost management responsibility?
Review dashboard reports
Identify and secure resources
Create WBS (work breakdown structure)
Conduct team performance reviews
5
Which of the following items should the PM consider when creating an effective cost management plan?
Size and complexity
Project billing type
All of the above
Contract terms
6
What is the preferred payment term for subconsultants?
Milestone Based
Net 30
Pre-pay
Pay When Paid
7
If time sheet corrections are identified in the current month, who can correct?
Supervisor
PM
Project Analyst
Employee
8
Which term means we have earned money but may not have been paid yet?
Revenue
Cash
Accounts Receivable
Cash Management
9
True or False: The PM Determines if a project must be split for IFRS?
True
False
10
Which status allows revenue to be earned but suppresses staff time charging?
Closed Charging
Approved
Contract Pending
Closed Labor
