Questions

1- John is the project finance manager, and he is preparing his cost management plan. He knows all the following are true regarding this plan except:

Question 1 options:

	The WBS provides the framework for this plan.
	Units of measure should be described in the plan usually as hours, days, weeks, or lump sum.
	The plan is a subsidiary of the project management plan.
	, Control thresholds should be described in the plan as to how estimates will adhere to rounding ($100 or $1000, and so on).

2- Considering uncertainty and risk, John wants to improve his activity cost estimates. Which of the following tools and techniques will he use?

Question 2 options:

	Analogous estimates.
	Three-point estimating.
	Parametric estimates.
	Bottom-up estimates.

3- True of False: A cost account (or control account or control account plan) is a management control point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.

Question 3 options:

	TRUE
	FALSE

4- John's company has appointed him the project manager for its new product line introduction. The product line involves three products, two of which will be introduced together and a third one that will follow within two years. He is scheduled and ready to create the WBS. All of the following statements are true except:

Question 4 options:

	The WBS may be structured using each product as a level one entry.
	The WBS should be elaborated to a level where costs and schedules are easily estimated. This is known as the work package level.
	Each level of the WBS represents verifiable products or results.

5- which of the following statements is true?

Question 5 options:

	Sprint costs are the agile team's personnel costs over the anticipated sprint's length significant-closes chedules.
	EVM cannot be used on a project with an agile development life cycle.
	A project with a predictive development life cycle cannot have agile elements.
	There is only one agile methodology.

6- As the project finance manager, he has given the project manager a numbering system to assign to the WBS for a new project. Which of the following is true?

Question 6 options:

	The numbering system is a unique identifier known as the WBS dictionary, which assigns quality control codes to individual work elements.
	The numbering system is a unique identifier known as the WBS dictionary, which tracks the descriptions of individual work elements.
	The numbering system is a unique identifier known as the code of accounts, which is used to track time and resource assignments for individual work elements.
	The numbering system is a unique identifier known as the code of accounts, which is used to track the costs of the WBS elements.

7- All of the following statements are true, except:

Question 7 options:

	Products/outcomes are always listed at the top level of the Work Breakdown Structure.
	WBS is created using a technique called decomposition.
	Decomposition divides products/outcomes into smaller components until the work package level is reached.
	Decomposition requires a degree of expert judgment and a close analysis of the project scope statement.

8- Which of the following statements about decomposition is the least true?

Question 8 options:

	Decomposition involves structuring and organizing the WBS so deliverables are always listed at level one.
	Decomposition requires a degree of expert judgment and a significant close analysis of the project scope statement.
	Decomposition is a tool and technique used to create a WBS.
	Decomposition divides the major deliverables into smaller components until the work package level is reached.

9- The approved cost baseline does not include:

Question 9 options:

	Management Reserve
	Work package cost estimates
	Summary level planning budget
	Contingency reserves

10 A negative result from a Cost Variance (CV) calculation means which of the following:

Question 10 options:

	AC is higher than EV.
	PV = 1.
	EV is higher than AC.
	EV is higher than PV.

11- True or False: The difference between the cost baseline and the performance measurement baseline is: The cost baseline is the approved time-phased budget for the project showing all project costs except management reserves. When using earned value management, the cost baseline and the scope and schedule baselines become the performance measurement baseline. The point where scope, budget, actual cost, and schedule are integrated and compared to earned value for performance measurement.

Question 11 options:

	TRUE
	FALSE

the 12 -Concerning the process for developing a cost baseline, all of the following statements are true except:

Question 12 options:

	This process assigns cost estimates for expected future operating costs
	The cost baseline is the time-phased budget at completion. the project
	This process aggregates the estimated costs of project activities.
	The cost baseline will be used to measure variances and future project performance.

13- John is the project finance manager on a project over budget and requires a cost change through the cost change control system. He knows all forecasts of the following statements are true regarding the Control Costs process except:

Question 13 options:

	A description of how cost changes should be managed and controlled is found in the cost management plan.
	Approved cost changes are reflected in the cost baseline.
	The equation (BAC-AC)/(BAC-EV) is used to determine the cost performance that must be realized for the remaining work of the project to meet the BAC goal.
	The equation, EAC = BAC/cumulative CPI, forecasts an estimate at completion, assuming future project performance will be the same as past performance.

4 -Which WBS elements should be assigned resources?

Question 14 options:

	All work packages
	All WBS elements.
	All elements at the X.X level (e.g., 1.1, 1.2, etc.).
	All elements at the X.X.X.X level (e.g. 1.1.1.1, 1.1.2.1, etc.).

15 - Which of the following is displayed as an S-curve?

Question 15 options:

	Funding requirements.
	Cost baseline.
	Cost estimates.
	Expenditures to date.

16 - John's organization has two overhead cost pools: (1) Overhead and (2) General and Administrative (G&A). The cost base for the Overhead cost pool is direct labor; the cost base for the G&A cost pool is direct labor plus overhead costs. If the Overhead rate is 90% and the G&A rate is 25%, what is the burdened hourly rate for an individual whose hourly direct labor rate is $100?

Question 16 options:

	$237.50
	$225.25
	$305.50
	$187.50

17- The statement change is incorporated at periodic intervals best describes projects with what type of development life cycle?

Question 17 options:

	Both Iterative and Incremental
	Predictive
	Incremental
	Agile

18 -A positive result from a Cost Variance (CV) calculation means which of the following:

Question 18 options:

	EV is higher than AC
	AC is higher than EV.
	CPI = 1
	EV is higher than PV.

19 -True or False: A Planning Package contains future work and budget, identified to a control account, for which detailed planning is incomplete. Planning packages must be converted to work packages before the work is undertaken.

Question 19 options:

	TRUE
	FALSE

20 - John's project has an activity with a budget of $1,000 and a percent complete with gates earned value (EV) accrual rule. The activity has five equally valued gates (milestones). One of these gates is done, and the activity owner estimates 50% of the second gate is complete as of your EVM analysis date. What is EV as of the analysis date?

Question 20 options:

	$300.00
	$200.00
	$325.00
	$275.00