Cost management questions

  Hi Guys,

I am getting confused with some of these answers,Please help me answering these questions to clear my concept:-(

 

  1. Reserve Analysis a technique NOT used in:
    1. Estimate Costs
    2. Determine Budget
    3. Control Costs
    4. Estimate Activity Duration
  2. _______ is not part of the Earned Value calculations.
    1. Known Unknowns
    2. Unknown Unknowns
    3. Project Budget
    4. Amount of work completed
  3. What is the BEST way to make an accurate forecasting of ETC?
    1. Manual Forecasting of cost of remaining work.
    2. BAC – EV
    3. (BAC – EV)/CPI
    4. EAC - AC
  4. Which of the following is not done as part of Performance Measurements?
    1. Calculating Planned Value
    2. Calculating Earned Value
    3. Calculating ETC
    4. Calculating Cost Variance
  5. A particular project in the domain of civil construction requires that every on-site worker be insured. Which of the following inputs BEST conveys this requirement to the Cost Estimation process so that the insurance cost is estimated and subsequently budgeted?
    1. Enterprise Environmental Factor
    2. Organizational Process Assets
    3. Project Scope Statement
    4. Project Management Plan

Hi Nisha,

 

Good day. what is the source of the questions. I passed PMP on 26th June 2015 and only pmstudy and pm exam simulator are similar to real exam. Real exam has excellent questions and very tricky. Have you tried scordo questions. there are 18 chapters which has 50 questions each.

I just practised 12 chapters from scordo, pm study questions and pm exam simulator(paid one which had 1800 questions and is close to real exam. the exam is available knowledge area wise, process groupwise).

 

Source of this question is below.

http://preparepm.com/pmp/cost.html

admin's picture

The answers are given on same page, which question / answer you are confused with and why ?

Hi..

I am confused due to these points.

1-Reserve analysis is the tool and technique in all these processes.

2-Uknown-Uknown is not the part of Earned value calculation

3Manual Forecasting of cost of remaining work or it is intended to say re-estimating.

4-Calculating Earned Value is not part of performance measurement?

5-If it is requires that everyone on site should be insured. Does not this come as Enterprise Environmental Factor?

Nisha

1. Reserve Analysis is to analyse the contingency reserve as to how much is utilised and how much more is required for future.
2. reserves used for unknown-unknown is called management reserve. This is part of budget and not included in cost baseline. while contingency reserve is part of both budget and cost baseline.
3.Manual forecasting(bottom up estimating) is done when all the previous cost is incorrect.
4.Earn value management is commonly used method of performance measurement.
5. "requires that every on-site worker be insured" This is a regulation or rule which is part of EEF.
 

Thank you oorvashe..for the reply..Actually i am confused with the question itself.

  1. Reserve Analysis a technique NOT used in:
    1. Estimate Costs
    2. Determine Budget
    3. Control Costs
    4. Estimate Activity Duration

My observation-Reserve analysis is the T & T in all these procsses.so how can we choose on e where it is not.

  1. is not part of the Earned Value calculations.
    1. Known Unknowns
    2. Unknown Unknowns
    3. Project Budget
    4. Amount of work completed

My observation-This i can understand i beleive that if it is Unknown Unknowns,We cant forecaste anything.

  1. What is the BEST way to make an accurate forecasting of ETC?
    1. Manual Forecasting of cost of remaining work.
    2. BAC – EV
    3. (BAC – EV)/CPI
    4. EAC - AC

My observation-Thank you for this I didnot know that Manual estimating is bottom up estimating.

  1. A particular project in the domain of civil construction requires that every on-site worker be insured. Which of the following inputs BEST conveys this requirement to the Cost Estimation process so that the insurance cost is estimated and subsequently budgeted?
    1. Enterprise Environmental Factor
    2. Organizational Process Assets
    3. Project Scope Statement
    4. Project Management Plan

My observation-If it is mandatory that all the on-site staff should be insuredd shold be EEF but the answer given is C(Project statement).

Please suggest.

Source-http://preparepm.com/pmp/cost.html

Thankk you

Nisha

As i said in my early post, dont waste time in these questions. I took PMP last friday and there are no questions like this...

NOT means...three answers are related and one is not.

Try PMStudy(free and sample version available) or pm exam simulator(170 questions free for 3 days and if  you pay you get 1800 questions) and try to score 80% you will defnitely pass the exam. You can also try Scordo tests (1000 questions) free if you are a PMI member.

Thank you so much oorvashe..I am sure you are right..

Will follow the same..

It has been a great help..

Thank you so much..

Nisha..

Sanjay Kumar's picture

A Facebook page will help you to increase your knowledge about PMP. And A free Cost Management Test at Testudaan is available.

20181120lck

coach outlet


ferragamo shoes


cheap jordans


canada goose coats


clarks shoes


five fingers shoes


coach outlet


ugg outlet


ray ban sunglasses


uggs outlet


canada goose outlet


kate spade outlet


polo outlet


mishka clothing


christian louboutin outlet


air jordan retro


cheap nhl jerseys


nuggets jerseys


tory burch handbags


canada goose parka


polo outlet


hermes outlet


longchamp handbags


air jordan release dates


pandora charms


canada goose outlet


gucci outlet


ferragamo outlet


ugg outlet


polo outlet


michael kors outlet


uggs outlet


true religion uk


christian louboutin outlet


longchamp outlet


ugg boots


mbt shoes


ugg outlet


lacoste soldes


ugg outlet


coach outlet


coach outlet


christian louboutin outlet


fitflops


fitflops sale clearance


clippers jerseys


pandora charms


nfl jersey wholesale


polo ralph lauren


ugg outlet


nike shoes


canada goose


nike shoes


canada goose outlet


san francisco 49ers jerseys


uggs outlet


canada goose coats


air max 97


michael kors outlet


trailblazers jerseys


prada outlet


north face jackets


burberry outlet


air max 2017


north face jackets


true religion jeans


new balance shoes


swarovski outlet


michael kors outlet


red bottom shoes


barbour jackets


polo outlet


nobis outlet


air jordan 4


uggs outlet


longchamp pliage


prada shoes


golden state warriors jerseys


ugg outlet


76ers jerseys


coach outlet


coach outlet


ugg outlet


basketball shoes


canada goose outlet


polo ralph lauren


ugg outlet


ferragamo outlet


cheap jerseys


coach factory outlet


michael kors outlet


moncler outlet


pandora charms sale clearance


michael kors outlet


cheap jordans


cheap nfl jerseys


lebron james shoes


polo ralph lauren


cheap mlb jerseys


nike shoes


coach outlet online


ugg boots


nike revolution


michael kors outlet online


air jordan 3


coach outlet


michael kors outlet


polo ralph lauren


nike revolution


cheap football shirts


ralph lauren polo shirts


coach outlet online


barcelona jersey


coach outlet


manolo blahnik outlet


jack wolfskin


jordan shoes


adidas trainers


ugg boots


ugg boots


coach outlet


christian louboutin outlet


nike free


cheap jordans


air max 90


longchamp solde


nhl jerseys


mbt shoes


denver broncos jerseys


nba jerseys


michael kors outlet clearance


true religion jeans


manchester united jersey


pandora jewelry


ugg boots


coach outlet online


pistons jerseys


ugg outlet


adidas crazy


ray ban outlet


michael kors


canada goose jackets


michael kors outlet


michael kors outlet


ray ban sunglasses


true religion outlet


mcm outlet


tory burch outlet


coach outlet


mulberry outlet


nba jerseys


air max 90


yeezy boost


hermes belt


oakley sunglasses


tory burch outlet


pandora outlet


pandora


uggs outlet


pandora charms


coach outlet


cheap nfl jerseys


coach outlet


coach outlet


ralph lauren pas cher


ray ban sunglasses


nike blazer pas cher


canada goose jackets


polo ralph lauren


kate spade outlet


canada goose outlet


jazz jerseys


pandora outlet


mulberry bags


oakley sunglasses


ray ban sunglasses


kate spade outlet


ralph lauren polo


ferragamo outlet


christian louboutin shoes


christian louboutin outlet


soccer jerseys


jordan shoes


mulberry handbags


kappa clothing


nike shoes


swarovski outlet


soccer shoes


nike factory outlet


cheap jordans


canada goose outlet


coach outlet store online


vans shoes


miu miu handbags


coach outlet online


canada goose outlet


michael kors outlet


polo shirts


tods outlet


canada goose jackets


coach handbags


christian louboutin outlet


hawks jerseys


coach outlet


polo ralph lauren


adidas outlet


mulberry handbags


coach outlet online


true religion jeans


longchamp handbags


ralph lauren polo shirts


jeep shoes


ugg outlet


michael kors outlet


ralph lauren outlet


air huarache


canada goose jackets


polo ralph lauren


pandora jewelry


pandora charms


supra shoes


air jordan 4


canada goose outlet


ugg boots


fitflops shoes


keen shoes


saucony shoes


michael kors outlet


ugg outlet


nets jerseys


nike cortez


canada goose outlet


cheap jordans


celtics jerseys


kevin durant shoes


michael kors


ugg outlet


mont blanc pens


warriors jerseys


pandora charms


moncler outlet


ralph lauren pas cher


timberwolves jerseys


moncler outlet


kate spade outlet


pacers jerseys


ray ban sunglasses


canada goose outlet


dior outlet


michael kors outlet


mulberry handbags


fitflops outlet


kate spade outlet


red bottom shoes


air jordan 12


yeezy boost 350


chelsea jersey


montblanc pens


ugg boots clearance


merrell shoes


michael kors outlet clearance


christian louboutin outlet


longchamp outlet


chrome hearts sunglasses


coach outlet


adidas wings


true religion jeans


bucks jerseys


true religion jeans


polo ralph lauren


coach outlet


giuseppe zanotti outlet


prada sunglasses


gucci handbags


mulberry handbags


air jordan shoes


michael kors


gucci outlet


michael kors wallets


wizards jerseys


uggs outlet


christian louboutin outlet


canada goose outlet


ugg outlet


coach outlet


nike presto


longchamp bags


houston texans jerseys


cheap jordans


fila shoes


christian louboutin outlet


minnetonka outlet


michael kors outlet


fitflops sale clearance


polo outlet


suicoke sandals


jordan shoes


heat jerseys


canada goose


ugg boots


20181120lck