A. Fixed price contract
B. Firm Fixed Price Contract
C. Fixed Price Incentive Fee Contract
D. Fixed Price with Economic Price Adjustment Contract
182) Which of the below is true about schedule baseline?
A. It is an approved version of a schedule model that can be changed only through informal change control procedures
B. Used as a basis for comparison to planned results
C. During monitoring and controlling, the approved baseline dates are compared to the planned start and finish dates to determine whether variances have occurred
D. It is a part of the project management plan
183) As a project manager, you prepare a schedule presentation for your management. The presentation shows high-level timelines and is in a summary form. The schedule is called:
A. Master schedule
B. Milestone schedule
C. Detail schedule
D. Project time management plan
Answer choices:
1. A
2. B
3. Both A and B
4. Neither A nor B
184) Which of the below are examples of project schedule network diagrams?
A. Pure logic diagram
B. Logic bar chart
C. Time-scaled logic diagram
D. Milestone chart
Answer choices:
1. A
2. A, B
3. A, B, C
4. A, B, C, D
185) You present your project status to management every Wednesday morning. Your presentation states that the status of the project is green as of mm/dd/yyyy. In this case, mm/dd/yyyy is the:
A. Status date
B. As-of date
C. Presentation date
D. Recording date
Answer choices:
1. A
2. A, B
3. A, B, C
4. A, B, C, D
186) Which of the below must schedule data include?
A. Schedule milestones
B. Schedule activities
C. Activity attributes
D. Documentation of all identified assumptions and constraints
Answer choices:
1. A
2. A, B
3. A, B, C
4. A, B, C, D
187) When planning your project’s cost, you are referring to the published commercial information guidelines for resource cost per hour. This is an:
A. Enterprise environmental factor
B. Organizational process asset
C. Financial database
D. Cost-estimating procedure
188) Which of the below is true about the accuracy of a project’s estimate?
A. It increases as the project progresses through its life cycle
B. It decreases as the project moves forward
C. It remains the same
D. It can increase or decrease depending on other factors that influence costs
189) Which of the following is not true about analogous cost estimating?
A. It is a gross value estimating approach
B. It is used to estimate a value when there is a limited amount of detailed information about the project
C. It uses historical information and expert judgment
D. It relies on the actual cost of the current project as the basis to estimate previous, similar projects
190) Which of the below are required for analogous estimating to be accurate? Choose the best answer.
A. Previous projects should be similar to current project in fact
B. Project members preparing the estimate should have the required expertise
C. Estimating should be done early in the project
D. Known differences in project complexity should not be accounted for
Answer choices:
1. A
2. A, B
3. A, B, C
4. A, B, C, D
191) Which of the below include supporting details for activity cost estimates?
A. Documentation about how the estimate was arrived at
B. Documentation of assumptions and constraints
C. Indication of the range of possible estimates
D. Indication of the confidence level of the final estimate
Answer choices:
1. A
2. A, B
3. A, B, C
4. A, B, C, D
192) Which of the below does project cost control not include?
A. Ensuring that all change requests are acted on in a timely manner
B. Preventing unapproved changes from being included in the reported cost or resource usage
C. Informing appropriate stakeholders of all approved changes and associated cost
D. Bringing expected cost overruns within acceptable limits
Answer choices:
1. All of the above
2. None of the above
3. A
4. B
193) Using the below information, calculate the EAC forecast for ETC work performed at the budgeted rate.
Actual cost: $1000
Earned value=$900
Budget at completion=$1200
EAC is:
A. $1000
B. $1300
C. $1200
D. $700
194) Using the below information, calculate the EAC forecast for ETC work performed at the present CPI.
Cost performance index=1.2
Budget at completion=$1200
EAC is:
A. $100
B. $1000
C. $1200
D. $700
195) You hire a consultant to help with network setup and security for your online business. Your site has just launched and you don’t know how much your business will grow, how much the traffic will be, and how much if any, maintenance work is needed. You ask the consultant to log the hours he works per month and offer to pay him for the number of hours he has worked based on a fixed amount per hour. This is an example of:
A. Fixed price contract
B. Time and materials contract
C. Cost reimbursable contract
D. Hybrid contract
A. Is an allowable variation to a metric
B. Is a project attribute
C. Is the same as measurement
D. Can be expressed as a percentage
1. A, B
2. B, C
3. A, D
4. C, D
197) Which of the below is not true about program management?
A. Program managers monitor the progress of program components to ensure the overall goals, schedules, budget, and benefits of the program will be met
B. Program managers develop the overall program plan and create high-level plans to guide detailed planning at the component level
C. Programs have a larger scope and provide more significant benefits
D. Program managers manage the project staff and the project managers; they provide vision and overall leadership
198) Which of the below is not true about project management?
A. Projects have defined objectives. Scope is progressively elaborated throughout the project life cycle
B. Project managers expect change and implement processes to keep change managed and controlled
C. Project managers monitor the progress of program components to ensure the overall goals, schedules, budget,
and benefits of the program will be met
D. Success is measured by product and project quality, timeliness, budget compliance, and degree of customer satisfaction
199) Which of the below is not true about portfolio management?
A. Portfolios have an organizational scope that changes with the strategic objectives of the organization
B. Portfolio managers create and maintain necessary processes and communication relative to the aggregate portfolio
C. Portfolio managers may manage or coordinate portfolio management staff, or program and project staff that may have reporting responsibilities into the aggregate portfolio
D. Portfolio managers monitor strategic changes and aggregate resource allocation, performance results, and risk of the program
200) Which of the below is not true of a project?
A. A project need not be part of a program
B. Projects within a program may not be related through the common outcome or collective capability
C. Success is measured by product and project quality, timeliness, budget compliance, and degree of customer satisfaction
D. Projects have defined objectives. Scope is progressively elaborated throughout the project life cycle
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