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28 The planned cost for the total project at its inception is called the _____.
A. Cost of goods sold.
B. Depreciable value.
C. Budgeted cost.
D. All of the above.
E. B and C only
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28 The reason that cost management is so difficult in project management is that:
A. Projects by definition and nature are non-recurring events and are therefore difficult to predict.
B .There are no tools for identifying project tasks.
C. Project managers do not care about tracking costs, as only schedules are important to all project managers.
D. A and B only
E. B and C only
The Cost Performance Index (CPI) measures:
A.cost of work performed vs planned costs.
B.work performed vs cost of work performed.
C.work performed vs planned work.
D.direct costs vs indirect costs.
E.floating costs vs. sunk costs.
28 The Pareto Principle is a technique used to determine which quality control problems in a particular process should be corrected. Which of the following statements best represents the philosophy employed by this principle？
A. In order to minimize financial losses from quality control problems, all problems which have a measureable cost should be corrected
B. the majority of defects are caused by a small percentage of the identifiable problems. Improvement efforts should be reserved for these vital problems. C. in order to achieve zero defects, all quality control problems, including those which do not have a direct financial cost should be corrected.
D. generally, 80% of the quality control problems are justifiable for correction via cost-benefit analysis. The remaining 20% are not financially worthy of improvement efforts.
E. A and D
Amount at Stake is the _____ .
A function of planned time/real time project costs.
B risk identified in successful project completions.
C (Standard Project Deviation + Expected Costs)/6
D cost of investment loss + least cost to restore status quo.
E inherent risk at conception altered by standard project deviations.
81 Amount at Stake is the _____ .
A. function of planned time/real time project costs.
B. risk identified in successful project completions.
C. (Standard Project Deviation + Expected Costs)/6
D. cost of investment loss + least cost to restore status quo.
E. inherent risk at conception altered by standard project deviations
The planned cost for the total project at its inception is called the _____.
A . Cost of goods sold.
B . Depreciable value.
C . Budgeted cost.
D . All of the above.
E . B and C only.
146 The planned cost for the total project at its inception is called the _____.
A. Cost of goods sold.
B. Depreciable value.
C. Budgeted cost.
D. All of the above.
E. B and C only
A.The project is operating at a favorable cost efficiency ratio.
B.the project is spending more than planned
C.the project is behind schedule
D.the project is ahead of schedule
E.B and C
163 Amount at Stake is the _____ .
A. function of planned time/real time project costs.
B. risk identified in successful project completions.
C. (Standard Project Deviation + Expected Costs)/6
D. cost of investment loss + least cost to restore status quo.
E. inherent risk at conception altered by standard project deviations
39 You have summarized the project and note that 28,000 hours have been scheduled, 25,000 hours have been earned and 26,000 hours paid. The correct conclusion is:
A. The project is operating at a favorable cost efficiency ratio.
B. the project is spending more than planned
C. the project is behind schedule
D. the project is ahead of schedule
E. B and C
