Learn and Practice Free Cost Management Set 5 questions

Click below to Practice Free Cost Management Set 5 Questions

You can get answer of the below sample questions by going through the above Question sets.

The cost of running a project management office is an example of what type of cost?

Option 1: Reimbursable
Option 2: Fixed
Option 3: Direct
Option 4: Indirect
Option 5:

You are setting up your team for the project you are currently working on and you are looking at a chart that shows the programming will be performed by Systems Development, the infrastructure will be implemented by Infrastructure Systems, the customer communication will be handled by the call center. This is an example of what type of chart?

Option 1: RACI
Option 2: Organizational Breakdown Structure (OBS)
Option 3: Work Breakdown Structure
Option 4: Resource Breakdown Structure (RBS)
Option 5:

A project manager is looking at a make-or-buy analysis as part of the Plan Procurements phase. What type of costs should the project manager consider for this analysis?

Option 1: Direct costs
Option 2: Indirect costs
Option 3: Out-of-pocket costs
Option 4: Both direct as well as indirect costs
Option 5:

Jackie is the project manager of large project. During the Determine Budget phase, she identifies that contingency reserves need to be made for unplanned but potentially required changes that could result from realized risks identified in the risk register. Which of the following is true about reserves?

Option 1: Reserves are not a part of project cost baseline, but may be included in the total budget for the project
Option 2: Reserves are not a part of project cost baseline, and will not be included in the total budget for the project
Option 3: Reserves are a part of project cost baseline, but will not be included in the total budget for the project
Option 4: Reserves are a part of project cost baseline, and will be included in the total budget for the project
Option 5:

During the execution of a project, a large number of defects were discovered. The project manager ensured that the issues, defect resolution and action item results were logged into a defects database. What would the defect database be considered a part of?

Option 1: Expert Judgment
Option 2: Deliverables
Option 3: Change Requests
Option 4: Organizational Process Assets
Option 5:

A project manager is analyzing the relationship between the consumption of project funds and the physical work being accomplished for such expenditures. In which project management process would this be done?

Option 1: Determine Budget
Option 2: Estimate Costs
Option 3: Control Costs
Option 4: Manage Costs
Option 5:

Martin is the project manager of a project that is in an early phase. He needs to estimate costs but finds that he has a limited amount of detailed information about the project. Which of the following estimation techniques would be least suited to his requirements?

Option 1: Top-down Estimating
Option 2: Bottom-up Estimating
Option 3: Analogous Estimating
Option 4: Budgetary Estimating
Option 5:

A project to construct 10 buildings in sequence, is estimated to cost $ 500,000 with a project timeline of 6 months. During a review after 3 months, the project manager finds that only 4 buildings are ready. The Actual Cost is $ 200,000. The Schedule Performance Index (SPI) of the project would then be:

Option 1: 0.8
Option 2: 2.5
Option 3: 1
Option 4: Cannot be determined since the data is insufficient.
Option 5:

Mark is the manager of a project to install 600 new desktop computers at a budgeted estimate of $ 60,000. He estimates the project duration as 30 days. After 5 days, Mark finds that he had inaccurately estimated his team's capabilities. His team has now completed the installation of 150 desktops. The Actual cost is $ 10,000. What is the Estimate at Completion (EAC)?

Option 1: $45,000
Option 2: $30,000
Option 3: $55,000
Option 4: $40,000
Option 5:

The cost estimates for a project are in the range of +/- 5 %. What phase is the project likely to be in?

Option 1: Closing phase
Option 2: Preliminary phase
Option 3: Initial phase
Option 4: Intermediate phase
Option 5:

_______________ is the authorized budget for the work scheduled to be completed on an activity or WBS up to a given time. The projected cost of all painting from a January 3rd start to a February 15th milestone is an example of this.

Option 1: Planned Value
Option 2: Earned Value
Option 3: Midpoint cost
Option 4: Interim cost
Option 5:

Collect Requirements, Develop Schedule and Perform Qualitative Risk Analysis are all part of what process group?

Option 1: Planning
Option 2: Scope Planning
Option 3: Monitor and Controlling
Option 4: Executing
Option 5:

It has come to your attention that you can't accurately estimate the resources needed for the schedule activity "Build Racks for Data Center", so in order to get an accurate number or skill of resources required to present to your Human Resource department later in the week, you have decided to decompose the schedule activity of "Build Racks for Data Center" into smaller components such as: take equipment out of box, review equipment for completeness, build frame and install rails and estimate the number of resources for each smaller component and then roll it up into an aggregate. This is an example of?

Option 1: Aggregate Estimating
Option 2: Alternative Analysis
Option 3: Bottom Up Estimating
Option 4: Rolling Wave Estimating
Option 5:

_______________________ is widely used to forecast project costs at completion.

Option 1: Cumulative CPI
Option 2: Earned Value
Option 3: Schedule Performance Index
Option 4: Total CPI
Option 5:

The most recent analysis of Microcorp's new fabrication facility renovation shows a CPI value of less than 1.0 What does this indicate?

Option 1: The cost has overrun estimates.
Option 2: The cost has underrun estimates.
Option 3: The project is running ahead of schedule.
Option 4: The schedule has slipped.
Option 5:

Practice Free Cost Management Set 5 Questions online

By Practicing the below question set :
The student will get the basic and advanced knowledge on Cost Management Set 5.
The student will learned the priciples and methedology of Cost Management Set 5.
The student will evaluate the knowledge level on Cost Management Set 5.
Student can practice number of times the question till he is clear.
Student can provide the review / feedback / suggestion on the questions which will help to others.
The question contains the simple to complex level difficulties so that student can improve the knowledge.

Kindly Note : The information provided here is just indicative information and is provided on “as is” and “as available” basis . We make no claims on accuracy and reliability of the information. For correct/current information kindly contact concerned college/institution/authorities


Mail: Support@gicgac.com