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41. Determining what resources and quantities will be used for the project is part of
A. Cost budgeting
B. Cost estimating
C. Resource planning
D. Cost control
ANS: C
Reference: PMBOK 7.1
42. The Scope Statement is used in which process
A. Resource Planning
B. Cost Estimating
C. Cost Control
D. Cost Planning
ANS: A
Reference: PMBOK 7.1.1.3
43. Inputs into Resource Planning include:
A. Staffing requirements, procurement policies, Work Breakdown Structure
B. Work Breakdown Structure, Scope Statement, historical information,
resource pool description, organizational policies
C. Work Breakdown Structure, Scope definition, resource pool description
D. Expert judgement, historical information, Work Breakdown Structure, Scope Statement
ANS: B
Reference: PMBOK 7.1.1
44. The term resource planning refers to:
A. Labor
B. Capital equipment
C. Materials
D. All of the above
ANS: D
Reference: PMBOK 7.1.1.4
45. Cost estimating includes all of the following except:
A. Identifying and considering various costing alternatives
B. Pricing strategy
C. Developing an assessment of the likely quantitative result
D. Baselining
ANS: D
Reference: PMBOK 7.2
46. Cost Estimating is most closely linked with which other process?
A. Procurement, Risk
B. Scope, Procurement
C. Time, Scope
D. Risk, Time, Integration
ANS: C
Reference: PMBOK 7.2.1
47. Parametric Modeling and Analogous Estimating are used in what process:
A. Cost Control Tools and Techniques
B. Cost Estimating Tools and Techniques
C. Risk Analysis Tools and Techniques
D. Risk Analysis Outputs
ANS: B
Reference: PMBOK 7.2.2
48. You are building the budget for your project. You dont have detailed requirements
for the project yet. However, a fellow project manager completed a similar project
A year ago, and has his budget assumptions and final costs documented. You decide
to use this information as the basis of your cost estimating. This is called:
A. Analogous estimating
B. Parametric modeling
C. Bottom-up estimating
D. Spreadsheeting
ANS: A
Reference: PMBOK 7.2.2.1
49. As the Project Cost Engineer on a high rise development you are preparing your budget.
You have developed a template, based on similar projects that can be used for buildings
with 3-25 stories. It breaks out cost per square foot for plumbing,
wiring, HVAC, dry wall, floors etc. This type of cost estimating is called:
A. Analogous estimating
B. Parametric modeling
C. Bottom up estimating
D. Spreadsheeting
ANS: B
Reference: PMBOK 7.2.2.2
50. Before you begin the cost budgeting process for building a new school you
should make sure your cost engineer has given you:
A. Cost estimates, chart of accounts, cost baseline
B. Supporting detail, estimate at completion
C. Cost estimates and supporting detail,
D. Cost management plan, cost change control plan, cost baseline
ANS: C
Reference: PMBOK 7.2.3
51. You are the program manager for a new commercial jet. A new robotic technology has
just emerged that will improve the accuracy of machining connectors to within 3 microns.
This technology will also result in a savings from the previous method. As a result ofthis,
all program managers are being asked to come up with a new estimate at completion for their
in-process projects. The most accurate method to develop the new estimate is to:
A. Complete and eamed value analysis to detennine the cost index
B. Take the actuals to date and add the remaining budget modified by a perfonmnce factor
C. Take the actuals to date and develop a new estimate for all remaining work
D. Add the remaining budget to what has already been spent
ANS: C
Reference: PMBOK 7.4.3.4
52. Which of the following is not an input to cost budgeting?
A. Cost estimates
B. Work breakdown schedule
C. Project schedule
D. Risk management plan
ANS: D
Reference: PMBOK 7.3.1
53. Which of the following is not an input to the cost control process?
A. Perfonmnce measurement
B. Cost baseline
C. Perfonmnce reports
D. Change requests
ANS: A
Reference: PMBOK 7.4.1
54. Which of the following is not a tool or technique for cost control?
A. Cost change control system
B. Revised cost estimates
C. Perfonmnce measurement
D. Additional planning
ANS: B
Reference: PMBOK 7.4.2
55. Which of the following is not an output of the cost control process?
A. Revised cost estimates
B. Budget updates
C. Workarounds
D. Estimate at completion
ANS: c
Reference: PMBOK 7.4.3
56. As project manager, which of the following activities most deserves your
immediate attention?
A. ACWP = ,000 and BCWP = ,900
B. BCWS = ,000 and BCWP = ,900
C. ACWP = ,000 and BCWP = ,200
D. BCWP = ,000 and ACWP = ,400
ANS: D
Reference: Kerzner 846 & PMBOK 7.4.2.2
57.Your project will require use of a high pressure punch press for four months.
You can rent the press for ,000 payable at the end of each montE
You may also choose to make a lump sum payment on the day the press is delivered.
Using a discount rate of 1% per month, the maximum lump sum payment you should choose to
make is:
A. ,000
B. ,500
C. ,000
D. ,250
ANS: C
Reference: Project Management: A Systems Approach to Planning, Scheduling and controlling, 6th Edition p. 762
58.A work package, scheduled for one year fromtoday, will cost 4,000 at that time.
It can be done now at a reduced cost. Using a 12% discount rate, the maximum cost
you should authorize for doing the work now is:
A. 100,320
B. 101,750
C. 102,500
D. 103,000
ANS: A
Reference: Project Management: A Systems Approach to Planning, Scheduling and controlling, 6th Edition p. 762
59. At what stage in the project life cycle would costs be the lowest?
A. Concept
B. Development
C. Implementation
D. Close out
ANS: A
Reference: PMBOK 2.1.2
60. At what point in the project would stakeholders have the most ability to influence the final
outputs of the project product?
A. Implementation
B. Development
C. Concept
D. Close out
ANS: c
Reference: PMBOK 2.1.2
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