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QUESTION NO: 1
The formula EV - PV provides the:
A. cost difference.
B. schedule variance.
C. schedule difference.
D. cost variance.
Answer: B
QUESTION NO: 2
What is the correct approach when handling extra costs of which the customer is deemed responsible and the relevant purchase order has been received?
A. Update estimate to completion (ETC) and update ordered works in cost baseline.
B. Cost baseline updated.
C. Update estimate to completion (ETC) and update materialized costs in cost baseline.
D. Estimate to completion updated.
Answer: A
QUESTION NO: 3
In which phase of the project is the greatest amount of its funding likely to be spent?
A. Initiating.
B. Executing.
C. Planning.
D. Closeout.
Answer: B
QUESTION NO: 4
What are the 2 primary inputs for the cost baseline calculation?
A. Subcontracted services and overhead.
B. Subcontracted services and local material purchases.
C. Costs of internal resources and costs of direct external workforce.
D. Resources and subcontracted services.
Answer: D
QUESTION NO: 5
Under what circumstances should the costs associated with the execution of the quality management plan be included in the project cost baseline?
A. Quality Management costs should not be part of the project cost baseline as it is the obligation of the subcontractor to perform according to the contract.
B. Quality Management costs should not be part of the project cost baseline but be entirely transferred to subcontractors that under-perform.
C. Costs associated to quality management should be considered only in very complex projects when the risk of quality issues cannot be fully mitigated.
D. Quality management costs must always be considered in the project plan as the benefits outweigh the costs in terms of less rework, higher productivity and higher stakeholder satisfaction.
Answer: D
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Updated: May 27, 2022