PMP Quiz 27 May 2016 Typically, the statement “no one likes to estimate, because they know their estimate will be proven incorrect” is true. However, you have been given the challenge of estimating the costs for your nuclear reactor project. A basic assumption that you need to make early in this process is— Answer

PMP Quiz 26 May 2016 Which of the following calculations CANNOT be used to determine EAC? Answer

PMP Quiz 25 May 2016 There are a number of different earned value management rules of performance measurement that can be established as part of the cost management plan. Which one of the following is NOT an example of such a rule? Answer

PMP Quiz 24 May 2016 Your project manager has requested that you provide him with a forecast of project costs for the next 12 months. He needs this information to determine if the budget should be increased or decreased on this major construction project. In addition to the usual information sources, which of the following should you also consider? Answer

PMP Quiz 23 May 2016 It is expensive to lease office space in cities around the world. Office space can cost approximately USD $80 per square foot in Tampa, Florida. And it can cost approximately ¥50,000 per square meter in Tokyo. These “averages” can help a person to determine how much it will cost to lease office space in these cities based on the amount of space leased. These estimates are examples of— Answer

PMP Quiz 20 May 2016 The undistributed budget is part of the— Answer

PMP Quiz 19 May 2016 The cumulative CPI has been shown to be relatively stable after what percentage of project completion? Answer

PMP Quiz 18 May 2016 Which of the following is a tool for analyzing a design, determining its functions, and assessing how to provide those functions’ cost effectively? Answer

PMP Quiz 17 May 2016 Your approved cost baseline has changed because of a major scope change on your project. Your next step should be to— Answer

PMP Quiz 16 May 2016 You receive a frantic phone call from your vice president who says she is going to meet with a prospective client in 15 minutes to discuss a large and complex project. She asks you how much the project will cost. You quickly think of some similar past projects, factor in a few unknowns, and give her a number. What type of estimate did you just provide? Answer