A company is developing a project similar to one it

delivered nearly 12 months earlier. What is the MOST

likely approach for defining project activities? Review what activities were actually
Select one: required on the previous project

A company is evaluating three consulting companies to

find a consultant to perform professional services.
They request information on how the three consulting
companies allocate fringe benefits to their clients.
What type of cost is the company asking about indirect cost
A date given in the contract (Statement of Work), will
essentially cause a Date Constraint in project schedule
A discretionary dependency is one that is based on: Experience.
All of the following are used in estimating activity
durations EXCEPT? Scope verification

All of the following items describe an aspect of life Life cycle cost only includes the project cost
cycle costing EXCEPT: from initiating through closing.
All the following are components of estimate cost
process EXCEPT: Cost of Quality.
All of the following statements are true regarding the
Plan Resource Management process except for which A RAM (or RACI chart) is an output of this
one? process that allows you to see all the people
Select one: assigned to an activity.

A new store development project requires the

purchase of various equipment, machinery, and
furniture. The department responsible for the
development recently centralized its external purchase
processes and standardized its new estimating costs
policies and templates. In which document these new
estimate costs policies and templates should be found? Organizational process assets
A project manager is asking team members about the
time estimates for their activities and developing
agreement on the calendar date for each activity. In
which of the following processes is the project
manager involved? Develop Schedule

A project manager needs to ensure that the cumulative

amount of cash coming into the project meets or
exceeds the demands for paying cash out in every
month. To meet this need, he needs to prepare: Time phased budget
A team member from research and development
department tells you that the work is too creative to
provide you with a fixed single estimate for the
activity. You both decide to use the average time the
activity has taken for past projects to predict the
future. This is an example of which of the following? Analogous estimating.
All the following are components of estimate cost
process EXCEPT: Vendor Bid analysis
A responsibility assignment matrix includes which two
data points? Activity and resource
A team member who doesn't have the required skills
or knowledge on cost estimation, which is his current
responsibility, was assigned to a team. Who is
responsible for ensuring that he receives the proper
training on cost estimation methods? Project manager

Contingency Reserves May not be calculated as determined by the project manager

Cost baseline does not include: Management Reserve

Cost Baseline is typically displayed in the form of a/an S curve

Cost Estimates may be updated because during the any of the other three reasons listed here is
Cost Estimates process, possible
Costs that do not change with the level of project
activity are known as : Fixed costs.
During Develop Schedule, which of the following would
BEST provide the basis for the most likely activity
duration estimate? The schedule for a similar project at the
Select one: same facility completed two years earlier
Cost Tracking System can be developed using - Any of the tools listed here.

Early in a project when very little detail is known about

a project, to get a quick rough estimate we can use: parametric estimate
arly in the life of your project, you are having a
discussion with the sponsor about what estimating
techniques should be used. You want a form of expert
judgment, but the sponsor argues for analogous Agree to analogous estimating as it is a form
estimating. It would be BEST to: of expert judgment.
In order to ensure that project team members
understand in detail what work is required to be Scope of work description for each activity
completed, you create a: in sufficient detail
It uses a statistical relationship between historical data
and other variables (e.g., square footage in
construction) to calculate an estimate for activity
duration. Parametric estimating
It uses parameters from a previous, similar project,
such as duration, budget, size, weight, and complexity,
as the basis for estimating the same parameter or
measure for a future project Parametric estimating
Project Performance is evaluated on the basis of non-
withdrawal from Cost Baseline
Select the right terminology for the total number of
work periods (not including holidays or other
nonworking periods)
required to complete a schedule activity or work
breakdown structure component. Duration
If funds remain unused from the contingency provision Must be lapsed and not used for any other
of any work package, this purpose
Project Team Charter does not include:
Select one: Team members wage structure

The activity list should include descriptions of activities. Ensure that the team members understand
This is required to: how the project work is to be done

The approved time-phased project budget, excluding

any management reserves, which can be changed only
through formal change control procedures and is used
as a basis of comparing actual results, is called a __: cost baseline.

The activity list should include descriptions of activities. Ensure that the team members understand
This is required to: how the project work is to be done.
The key benefit of this process is that it defines the
logical sequence of work to obtain the greatest
efficiency given all project constraints. Sequence Activities
The number of labor units required to complete a
schedule activity or work breakdown structure
component, often expressed in hours, days, or weeks
can be termed as efforts
The process of developing an approximation of the
cost of the monetary resources needed to complete
project activities is known as: estimate cost.
The process of establishing the policies, procedures,
and documentation for planning, developing,
managing, executing, and controlling the project
schedule. Plan Schedule Management
The process of identifying and documenting the
specific actions to be performed to produce the project
deliverables. Define Activities
The time or money set aside in schedule or cost base
line to cover the unknown unknowns can be referred
as which of the following Terminology? Management Reserve
The WBS, estimates for each work package, and
network diagram are completed. Which of the
following would be the NEXT thing for the project Create a preliminary schedule and get the
manager to do? team's approval
Time or Money allocated in the schedule or cost
baseline for known risks with active response
strategies can be referred as which of the following
terminology? Contingency Reserve
Total funding requirements and periodic funding
requirements (e.g., quarterly, annually) are derived
from the cost baseline
What does a staffing management plan describe? When and how resources will be added to
Select one: the project
What is the BEST report to use when reporting to
senior management?
Select one: Gantt chart
What is the right terminology for “In the critical path
method, the earliest possible point in time when the
uncompleted portions of a schedule activity can start
based on the schedule network? Early Start

What is used in the Project Cost Management

Knowledge Area to monitor and control project costs? Control Account (CA)
Where should a new project manager look to
determine resource requirements? Work breakdown structure
Which estimating technique uses historical data from a
similar project as a starting point for creating a time or
cost estimate? analogous estimating
Which of the following components of the approved
project budget can not be used by the project manager
without going to the sponsoring organisation’s
management. Management Reserve
Which of the following costs will not be considered in
the Human Resource Management Costs? Cost of Firing Team Members

Which of the following is not a characteristic of Rolling Plan must be prepared in complete detail at
Wave Planning the beginning of the project.
Which of the following is the most accurate method of
cost estimation? Bottom Up
Analogous estimating requires less
Which of the following statement is true: information and time than Parametric
Select one: estimating
Which of the following statements is not true about
Contingency Reserves: It is not a part of funding requirements
Which of the following terms best describes a provision
in the project budget to mitigate cost and / or schedule
risk? Reserve

You are a project manager on a $15,000,000 software

development project. While working with your project
team to develop a schedule network diagram, your
data architects suggest that quality could be improved
if the data model is approved by senior management
before moving on to the design phase. They support
this suggestion with an article from a leading software
development journal. This type of input is called a(n):
Select one: Internal Discretionary dependency
You are having difficulty estimating the cost of a
project. Which of the following BEST describes the
most probable cause of your difficulty? Inadequate scope definition
You are looking at the standard reports that the
project management office has supplied, and you see
network diagrams and Gantt charts. Under what
circumstances would you want to use a network
diagram instead of a Gantt chart? To create a work To show interdependencies between
breakdown structure activities
You have been assigned as the project manager on a
new software development project. The organization
uses a weak matrix structure and you must justify
every single expense. You need to purchase 100
computers over the project life cycle to do the project.
This is an example of:
Select one: Indirect cost
Your company is undergoing a change in ownership
and the new owners are looking at the total cost of all
project initiatives. Which of the following would
provide the BEST indicator to the new owners?
Select one: Project life-cycle costs
Review what activities were actually
required on the previous project

indirect cost
Management Reserve

S curve
Sequence Activities

Contingency Reserve