A time-phased budget that project managers use to measure and monitor cost performance. A. Cost Baseline B. Cost Budgeting C. Cost Estimating D. Cost Variance

 A time-phased budget that project managers use to measure and monitor cost performance.

A. Cost Baseline

B. Cost Budgeting

C. Cost Estimating

D. Cost Variance
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1 Answer

Answer :

A. Cost Baseline
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Related questions

Which of the following project baselines provides the basis for measurement of the expected cash flow against requirements over time and is often displayed as an S curve? Select one: a. Schedule baseline b. Cost performance baseline c. Scope baseline d. Plan baseline e. Initiation baseline

Description : Which of the following project baselines provides the basis for measurement of  the expected cash flow against requirements over time and is often displayed as an  S curve? Select one: a. Schedule baseline b. Cost performance baseline c. Scope baseline d. Plan baseline e. Initiation baseline

Last Answer : b. Cost performance baseline

What is the definition of Earned Value Management? A. An approach that combines the scope, schedule, and cost baseline into a project performance and progress measurement tool. B. An approach that combines the schedule and cost baseline into a project performance and progress measurement tool. C. An approach that combines the scope and cost baseline into a project performance and progress measurement tool.

Description : What is the definition of Earned Value Management? A. An approach that combines the scope, schedule, and cost baseline into a project  performance and progress measurement tool.  B. ... approach that combines the scope and cost baseline into a project performance and  progress measurement tool.

Last Answer : A. An approach that combines the scope, schedule, and cost baseline into a project  performance and progress measurement tool.

. If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : . If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

. If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : . If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Description : If the Earned Value is equal to Actual Cost, it means: A. Project is on budget and on schedule B. Schedule Variance Index is 1 C. There is no schedule variance D. There is no cost variance

Last Answer : D. There is no cost variance

The Scope Baseline is: 1. the original description of the project's end results 2. a summary description of the project's original content and end product, including basic budgetary and time constraint data 3. the original project budget and schedule 4. a and c

Description : The Scope Baseline is: 1. the original description of the project's end results  2. a summary description of the project's original content and end product, including basic  budgetary and time constraint data 3. the original project budget and schedule  4. a and c

Last Answer : 2. a summary description of the project's original content and end product, including basic  budgetary and time constraint data

)Resource leveling attempts to : 1. Reduce resource requirements by smoothing out period-to period resource assignments. 2. Ensure that the 3. Reduce the amount of resources so that they can be shared with on other endeavors. 4. Increase the amount of the project manager's authority so that budget dollars can be appropriated.budget abnormalities are overcome.

Description : )Resource leveling attempts to : 1. Reduce resource requirements by smoothing out period-to period resource assignments.  2. Ensure that the budget abnormalities are overcome. 3. Reduce the ... Increase the amount of the project manager's authority so that budget dollars can be  appropriated.

Last Answer : 1. Reduce resource requirements by smoothing out period-to period resource assignments.

A project with total budget cost of 30 crores is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given: Budgeted cost of work performed (EV) = 17 crores Actual Cost of work performed (AC = 19 crores Budgeted cost of work scheduled (PV) = 21 croresWhat is the cost performance index? A.0.895 B.0.81 C.0.90 D.1.12

Description :  A project with total budget cost of 30 crores is scheduled to be completed in 80 weeks. A periodic review was carried out at end of 60 weeks and results are as given:  Budgeted cost of work performed (EV) = 17 ... crores What is the cost performance index?  A.0.895  B.0.81  C.0.90  D.1.12

Last Answer : A.0.895

Earned value management integrates scope, cost, and schedule measures to: A. assess project performance and progress. B. develop a preliminary budget. C. assess communication effectiveness among project team members. D. assess whether all requirements were met.

Description : Earned value management integrates scope, cost, and schedule measures to:  A. assess project performance and progress.  B. develop a preliminary budget. C. assess communication effectiveness among project team members. D. assess whether all requirements were met.

Last Answer : A. assess project performance and progress.

Complete the following statement. As a project manager, Darrell is excited that he is assigned to be in charge of the most important project this year. After being chartered for the project, he analyses the information in the project charter and the stakeholder register to: Select one: a. decide how to draft a scope statement. b. start to define and develop the stakeholder needs and requirements c. prepare for the template to monitor project progress. d. estimate the entire project budget.

Description : Complete the following statement. As a project manager, Darrell is  excited that he is assigned to be in charge of the most important project  this year. After being chartered for the project, he ... c. prepare for the template to monitor project progress. d. estimate the entire project budget.

Last Answer : b. start to define and develop the stakeholder needs and requirements

A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Description : A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Last Answer : C. Management Contingency Reserve

A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Description : A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term  can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Last Answer : C. Management Contingency Reserve

Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to enable benefits to be realised. c. to take ultimate accountability for the delivery of the business benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Description : Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to ... benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Last Answer : b. to deliver the project objectives to enable benefits to be realised.

Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to enable benefits to be realised. c. to take ultimate accountability for the delivery of the business benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

Description : Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time.  b. to deliver the project objectives to ... benefits.  d. to delegate all accountability for managing time, cost and quality to team leaders.

Last Answer : b. to deliver the project objectives to enable benefits to be realised.

Work that continues throughout the project and does not relate to any specific phase of development is termed a(n) a) Milestone b) Project function c) Activity d) Task e) Baseline.

Description : Work that continues throughout the project and does not relate to  any specific phase of development is termed a(n) a) Milestone b) Project function c) Activity d) Task e) Baseline.

Last Answer : b) Project function

Which of the following makes up the project scope baseline? A. The project scope statement B. The scope management plan and WBS C. The WBS, project scope statement, and WBS dictionary D. The scope management plan, the WBS, and the WBS dictionary

Description : Which of the following makes up the project scope baseline?  A. The project scope statement B. The scope management plan and WBS C. The WBS, project scope statement, and WBS dictionary D. The scope management plan, the WBS, and the WBS dictionary

Last Answer : C. The WBS, project scope statement, and WBS dictionary

In a project schedule, the sequence of activities which cannot be delayed during the course of the project without extending the project end date is referred to as the: A. Action plan B. Critical path C. Schedule baseline D. Slack line

Description :  In a project schedule, the sequence of activities which cannot be delayed during the  course of the project without extending the project end date is referred to as the:  A. Action plan B. Critical path C. Schedule baseline D. Slack line

Last Answer : B. Critical path

Following is(are) the responsibility(ies) of the project manager. (A) Budgeting and cost control (B) Allocating resources (C) Tracking project expenditure

Description : Following is(are) the responsibility(ies) of the project manager. (A) Budgeting and cost control (B) Allocating resources (C) Tracking project expenditure

Last Answer : (C) Tracking project expenditure

Scheduling can best be defined as the process used to determine: a. overall project duration. b. project cost estimating. c. the project management plan. d. sub-contractor’s responsibilities.

Description : Scheduling can best be defined as the process used to determine: a. overall project duration. b. project cost estimating. c. the project management plan. d. sub-contractor’s responsibilities.

Last Answer : a. overall project duration.

Following is(are) the responsibility(ies) of the project manager. (A)Budgeting and cost control (B)Allocating resources (C)Tracking project expenditure (D)All of the above

Description : Following is(are) the responsibility(ies) of the project manager. (A)Budgeting and cost control (B)Allocating resources (C)Tracking project expenditure (D)All of the above

Last Answer : (D)All of the above

Scheduling can best be defined as the process used to determine: a. overall project duration. b. project cost estimating. c. the project management plan.

Description : Scheduling can best be defined as the process used to determine:  a. overall project duration.  b. project cost estimating.  c. the project management plan.

Last Answer : a. overall project duration.

Cost budgeting can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project 2. The process of assembling and predicting costs of a project over its life cycle 3. The process of establishing budgets, standards, and a monitoring system by which the investment cost of the project can be measured and managed 4. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on- going basis

Description : Cost budgeting can be best described by which of the following? 1. The process of developing the future trends along with the assessment of probabilities,  uncertainties, and inflation that  could ... of gathering, accumulating, analyzing, reporting, and managing the costs on an on- going basis

Last Answer : 3. The process of establishing budgets, standards, and a monitoring system by which the  investment cost of the project can be measured and managed

Which one of the following does project change control primarily seek to ensure? a. All variance to the project scope is evaluated. b. No reduction in the perceived quality of the project outcome. c. Management costs of the project do not increase. d. Any decrease in the scoped deliverable of the project is rejected.

Description : Which one of the following does project change control primarily seek to ensure? a. All variance to the project scope is evaluated. b. No reduction in the perceived quality of the project outcome. ... project do not increase. d. Any decrease in the scoped deliverable of the project is rejected.

Last Answer : a. All variance to the project scope is evaluated.

Petri is working for Nokia in Finland. He has completed 10 months of his 12-month project, budgeted at $800,000. His earned value analysis shows that variance at completion is $75,000. What is the estimate at completion value for this project? Select one: a. 725,000 b. -725,000 c. -$875,000 d. $875,000 e. $800,000

Description : Petri is working for Nokia in Finland. He has completed 10 months of his 12-month project, budgeted at $800,000. His earned value analysis shows that variance at  completion is $75,000. What is the estimate at completion value ... : a. 725,000 b. -725,000 c. -$875,000 d. $875,000 e. $800,000

Last Answer : d. $875,000

Which one of the following does project change control primarily seek to ensure? a. All variance to the project scope is evaluated. b. No reduction in the perceived quality of the project outcome. c. Management costs of the project do not increase. d. Any decrease in the scoped deliverable of the project is rejected

Description : Which one of the following does project change control primarily seek to ensure?  a. All variance to the project scope is evaluated.  b. No reduction in the perceived quality of the project outcome ... project do not increase.  d. Any decrease in the scoped deliverable of the project is rejected

Last Answer : a. All variance to the project scope is evaluated.

Kathryn has little experience estimating the time it will take to complete a systems project. She has just completed the planning phase of the project. What method should she use to estimate the time required to build the system? a. adjusted project complexity b. function points c. industry standards d. Microsoft Project e. more complex approach

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Last Answer : c. industry standards

According to leading experts in software development, the margin of error when estimating project costs is 100% and the margin of error in project scheduling time is 25%.

Description : According to leading experts in software development, the margin of error when  estimating project costs is 100% and the margin of error in project scheduling time is  25%.

Last Answer : Ans: True

Using typical industry standards for estimating project time schedules, the estimated analysis phase would be 10 person-months for a systems project where the planning phase was completed in 7.5 person-months.

Description : Using typical industry standards for estimating project time schedules, the estimated  analysis phase would be 10 person-months for a systems project where the planning phase was completed in 7.5 person-months.

Last Answer : Ans: True

Using typical industry standards for estimating project time schedules, the estimated analysis phase would be 25 person-months for a systems project where the planning phase was completed in 30 person-months.

Description : Using typical industry standards for estimating project time schedules, the estimated  analysis phase would be 25 person-months for a systems project where the planning phase was completed in 30 person-months.

Last Answer : Ans: False

When estimating project time schedules using industry standards for a systems project, the following values are acceptable: 15% for planning, 25% for analysis, 50% for design, and 10% for implementation.

Description : When estimating project time schedules using industry standards for a systems project,  the following values are acceptable: 15% for planning, 25% for analysis, 50% for design,  and 10% for implementation.

Last Answer : Ans: False

. When estimating project time schedules using industry standards, the estimated project completion time for a systems project would be _____ person-months if the actual planning phase were completed in 6 person-months. a. 30 b. 40 c. 17.14 d. 9 e. 50

Description : . When estimating project time schedules using industry standards, the estimated  project completion time for a systems project would be _____ person-months if the actual  planning phase were completed in 6 person-months.  a. 30  b. 40  c. 17.14  d. 9  e. 50

Last Answer : b. 40

The three steps of project management are _____. a. controlling the project, directing the project, and creating the work plan b. creating the work plan, staffing the project, and controlling and directing the project c. directing the project, creating the work plan, and naming the tasks d. naming the tasks, creating the work plan, and completing the deliverables e. setting the start date, estimating the time, and reading the actual time

Description : The three steps of project management are _____. a. controlling the project, directing the project, and creating the work plan  b. creating the work plan, staffing the project, and controlling ... the deliverables  e. setting the start date, estimating the time, and reading the actual time

Last Answer : b. creating the work plan, staffing the project, and controlling and directing the  project

The main purpose of the Project Management Plan is to: a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk of alternative options. b. ensure the project sponsor has tight control of the project manager’s activity. c. document the outcomes of the planning process and provide the reference document for managing the project. d. document the outcome of the risk, change and configuration management processes.

Description : The main purpose of the Project Management Plan is to: a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk of  alternative options. b. ensure ... the  project. d. document the outcome of the risk, change and configuration management processes.

Last Answer : c. document the outcomes of the planning process and provide the reference document for managing the  project.

The main purpose of the Project Management Plan is to: a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk of alternatd. document the outcome of the risk, change and configuration management processes.ive options. b. ensure the project sponsor has tight control of the project manager’s activity. c. document the outcomes of the planning process and provide the reference document for managing the project.

Description : The main purpose of the Project Management Plan is to:  a. provide justification for undertaking the project in terms of evaluating the benefit, cost and risk  of alternative options.  b ... managing the project. d. document the outcome of the risk, change and configuration management processes.

Last Answer : c. document the outcomes of the planning process and provide the reference document for  managing the project.

Which of the following is displayed as an S curve? A. Gantt B. Cost baseline C. Critical path D. Schedule baseline

Description : Which of the following is displayed as an S curve?  A. Gantt B. Cost baseline C. Critical path D. Schedule baseline

Last Answer : B. Cost baseline

All of the following influence capital budgeting cash flows except . A. choice of depreciation method for tax purposes B. economic length of the project C. projected sales (revenues) for the project

Description : All of the following influence capital budgeting cash flows except . A. choice of depreciation method for tax purposes B. economic length of the project C. projected sales (revenues) for the project

Last Answer : B. economic length of the project

The estimated benefits from a capital budgeting project are expected as cash flows rather than income flows because . A. it is more difficult to calculate income flows than cash flows B. it is cash, not accounting income, that is central to the firm's capital budgeting decision C. this is required by the accounting profession

Description : The estimated benefits from a capital budgeting project are expected as cash flows rather than income flows because . A. it is more difficult to calculate income flows than cash flows B. it ... is central to the firm's capital budgeting decision C. this is required by the accounting profession

Last Answer : B. it is cash, not accounting income, that is central to the firm's capital budgeting decision

The successful project managers spend most of their time: A. Planning with their personnel B. Planning with the top management C. Communication with the project team (Ans.) D. Studying project results

Description : The successful project managers spend most of their time:  A. Planning with their personnel  B. Planning with the top management  C. Communication with the project team (Ans.)  D. Studying project results

Last Answer : C. Communication with the project team (Ans.)

Approximately what percentage of the project manager's time is spent in some form of communication, such as: conferences, meetings, writing memos, reading and preparing reports, and talking with project team members, upper management, and all other stalk holders? 1. 10-20% 2. 50-70% 3. 75-90% 4. 21-45%

Description : Approximately what percentage of the project manager's time is spent in some form of  communication, such as: conferences, meetings, writing memos, reading and preparing reports, and talking with project  team members, upper ... other stalk holders? 1. 10-20%  2. 50-70%  3. 75-90%  4. 21-45%

Last Answer : 3. 75-90%

The successful project managers spend most of their time: 1. Planning with their personnel 2. Planning with the top management 3. Communication with the project team 4. Studying project results.

Description : The successful project managers spend most of their time: 1. Planning with their personnel  2. Planning with the top management  3. Communication with the project team  4. Studying project results.

Last Answer : 3. Communication with the project team

Which of the following represents the estimated value of the work actually accomplished? A. Earned value (EV) B. Planned value (PV) C. Actual cost (AC D. Cost variance (CV)

Description : Which of the following represents the estimated value of the work actually  accomplished?  A. Earned value (EV)  B. Planned value (PV)  C. Actual cost (AC  D. Cost variance (CV)

Last Answer : A. Earned value (EV)

The BCWS = $250, the ACWP = $350, and the BCWP = $200. Calculate the Cost Variance. 1. -$150 2. $150 3. -$50 4. $50

Description : The BCWS = $250, the ACWP = $350, and the BCWP = $200. Calculate the Cost Variance. 1. -$150  2. $150  3. -$50  4. $50

Last Answer : 1. -$150

Cost Variance (CV) is which of the following equations? 1. CV = BCWP - BCWS 2. CV = BCWP - ACWP 3. CV = SV / BCWS 4. A and c

Description : Cost Variance (CV) is which of the following equations? 1. CV = BCWP - BCWS  2. CV = BCWP - ACWP  3. CV = SV / BCWS  4. A and c

Last Answer : 2. CV = BCWP - ACWP

Which of the following is/are main parameters that you should use when computing the costs of a software development project? a) travel and training costs b) hardware and software costs c) effort costs (the costs of paying software engineers and managers) d) all of the mentioned

Description : Which of the following is/are main parameters that you should use when computing the costs of a software development project? a) travel and training costs b) hardware and software costs c) effort costs (the costs of paying software engineers and managers) d) all of the mentioned

Last Answer : d) all of the mentioned

Which of the following is/are main parameters that you should use when computing the costs of a software development project? a) travel and training costs b) hardware and software costs c) effort costs (the costs of paying software engineers and managers) d) all of the mentioned

Description : Which of the following is/are main parameters that you should use when computing the costs of a  software development project? a) travel and training costs b) hardware and software costs c) effort costs (the costs of paying software engineers and managers) d) all of the mentioned

Last Answer : d) all of the mentioned

Do it because I said to” is the mantra for project managers who use _____ as the default approach to resolve conflict. Select one: a. collaborating b. compromising c. accommodating d. forcing e. avoiding

Description : Do it because I said to” is the mantra for project managers who use _____ as the  default approach to resolve conflict. Select one: a. collaborating b. compromising c. accommodating d. forcing e. avoiding

Last Answer : d. forcing

Which conflict resolution technique do project managers use most often? A. Smoothing B. Norming C. Confronting D. Forcing

Description : Which conflict resolution technique do project managers use most often?  A. Smoothing B. Norming C. Confronting D. Forcing

Last Answer : C. Confronting

An Organizational Breakdown Structure (OBS) is used to identify: a. the reporting structure and current availability of all individuals in the project. b. technical ability and line of communication for all individuals in the project. c. lines of communication and responsibility for all the individual managers in the project. d. the reporting structure and lines of communication for all individuals in the projects.

Description : An Organizational Breakdown Structure (OBS) is used to identify: a. the reporting structure and current availability of all individuals in the project. b. technical ability and line of communication ... . d. the reporting structure and lines of communication for all individuals in the projects.

Last Answer : d. the reporting structure and lines of communication for all individuals in the projects.

Project managers have to assess the risks that may affect a project. a) True b) False

Description : Project managers have to assess the risks that may affect a project. a) True b) False

Last Answer : b) False