0000013440 00000 n Based on the following, what would you be more concerned about, cost or schedule, if you were taking over this project from another project manager? Additional resources using the contingency fund . PREVIOUS: Time UP NEXT: Risk. 0000006334 00000 n stream 0000001103 00000 n Since you want to know about the PMP Question Bank, I am assuming you are already in the process of preparation for your PMP Certification Exam.If you have not yet taken the training, you can read the article to learn more about PMP Exam and PMP Question Bank. �j�+5��=U��c���c��\����=�{�sLP�r��}���PC� �6>�S�J�Qh4&/�F*�m�oq,�c1}��˸��r��R�qC�Cg���d��k��}$�+�٤��-4e�-���k�"����)�Jc)���z��?`[a��\�~��a�M�j���0�ˏ����.�Ės[�;o��]��Z�t!-+>�`m=��Z�p�֕b���9{�2=r,�g�D��z��c\�ʤ!K�#IEU�L�꫱��Σ��7,��i�ZdcH�!��y��E.��ş�\�����%;c�8��� Generally, techniques like WBS(Work Breakdown Structures) or historical data of similar kinda projects are used for defining the cost resource requirements which include time , material, labor, equipment etc. S���A��|#f�=��E�if$ɹ���$��q2��2��i���6*���[ H1c�)�l2k9"�cº`Ġ0�jf'�8ɾX�#�vZ��C���k+������{���J��w �����&p誆 1}�_|q��|��GҖ^�3�TLY�+� A. Baseline. 12. A project has more than one critical path. 0000006192 00000 n PMP Question Bank "PDF" With Answers - In Bibloteka you will be able to Download 1440 PMP certification exam & project management professional certification exam sample questions in PDF in free of cost. When taking an examination that you need to prepare well your knowledge for your exam, thus firstly you should learn the concept and information included in your material.Indeed, there are 200 questions in your real exam that you need to score 106 out of 200 questions during 4 hours. Plan cost management is the initial process of project cost management where you will be defining how the costs of the project will be estimated, budgeted, managed, monitored and controlled. By taking all exams you will answer 400 questions and will have twice covered the complete range of subjects found in the PMBOK® Guide. What are the disadvantages? 0000002082 00000 n Question: 42. 248 0 obj<> endobj <> Get help with your Project cost management homework. 0000002005 00000 n Budget management is a crucial aspect of project management. Option C is not a planning activity. C. Definitive Estimate . 1 0 obj Questions on Project Cost Management. Project Cost management for Project Managers based on PMBOK By Dr. T D Jainendrakumar The Cost Management includes the processes involved in estimating, budgeting, and controlling costs so that the project can be completed within the approved budget. How It Works. Home; Services. endobj D. Cash Flow Analysis. ©Casablanca Management Pty Ltd 1 https://www.mosaicproject.com.au Free PMP Questions & Answers 1 All of the following tools and techniques are part of processes in the Direct Costs. Reserve Analysis a technique NOT used in: Estimate Costs Determine Budget Control Costs Estimate Activity Duration CORRECT: C A Project with a total funding of $100,000 finished with a BAC value of $95,000. 0000022751 00000 n 0000002550 00000 n •Please read Chapter 7 from Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fourth Edition, Project Management Institute, Inc., 2008 (pages 165-188) •The study notes explain topics that are important for PMP® exam preparation, and you can expect several questions from these topics. … ... Project Cost Management. Project is on budget (but not necessarily on schedule, as there is not enough information on schedule variance) Questions on Project Human Resources Management 7. By answering this question honestly, you open up an opportunity to manage projects that excite you or those in which you can excel. Project Management MCQs (PDF) Download the Project Management Multiple Choice Questions (MCQs) in PDF from this page. D. There is no cost variance Answers 5. No registration required. What should the change request authorize? 185 PMP Mock Exam on Project Cost Management from Chapter 7 of PMBOK 5th Edition. 4 0 obj Depending on the roles and responsibilities of the project manager in a company, budget management might not be required by the project manager. (C) related projects 4. (a) Risk increases (b) Risk decreases (c) The duration of the project reduces (d) The project may cost less. 0000003314 00000 n Frequently Asked Questions in Project Management 1. B. Your score and the correct answers will be presented at the end of each practice exam. However, the project manager realizes only 75% percent of the work has been completed. (A) 5. The Financial Accounting past questions and answers in PDF file in this post should not be made as your means of study rather a tool … A cost estimate that provides an accurate estimate of project costs. startxref If a decision is made to speed-up the schedule and complete project earlier than planned, this may require either reduction of project scope or assigning more resources. 0000006620 00000 n Therefore if EV = AC, the Cost Variance is zero (i.e. 0000002310 00000 n 0000001419 00000 n •Project managers must understand project cost management in order to effectively control these tangibles 7. <<95c2edb3bd8bd1499ade67efd0feda2b>]>> 0000003962 00000 n The best way to study is to thoroughly understand what is covered on the exam. The project manager then issues a change request. Considers the total cost of ownership, or develpment plus support costs, for a project. PMP Exam Questions and Answers (Sample Questions) The PMP (Project Management Professional) is an internationally recognized certification and the PMP Exam is conducted by the PMI (Project Management Institute).The exam includes multiple-choice questions that test the professional’s knowledge and experience on the project management processes and knowledge areas. 0000001676 00000 n When you launch an exam below, a new window will open. CHAPTER 1 Project Management Framework Fundamentals 21 CHAPTER 2 Professional and Social Responsibility 53 CHAPTER 3 Understand Project Initiating 77 CHAPTER 4 Examine Project Planning 97 CHAPTER 5 Explore More Elements of Project Planning 135 CHAPTER 6 Understand Project Execution 179 CHAPTER 7 Investigate Project Monitoring and Controlling 213 CHAPTER 8 Explain Project … 65 Sample PMP Questions and Answers PDF; PMBOK® Guide Sixth Edition Summarized PDF; PMP Question & Answer 2018: Free PDF Download ; What should I study for the PMP exam? Question: 41. Given the fact that you have landed on this PMP ® Exam Questions & Answers blog, I believe you are already aware of these facts. Option B does not protect against cost overrun, rather it is a schedule buffer. endobj Cost Control. xref )��1����),��Y�YB�������(��X�ल/ �gk�FCuC+�8UI`D_“0�TNgN3��l��o��IzB�����f#\����m��h �F�2��J��;����UA&��(3�:�ΐ:���J됁�����0��������fRX �Ѫ���ʑ�6J��N]���L3P��PxhM&�g��ш�"��X�S�nOm2~�� ��"m�%�&�(v�bS�BC�zLY�T���0��H� �P���K� ����s�� ��%6J�}�nn�gYр�tYS��@����3Ґ�: I�k�&�ی�|;���!P%7�"UcA��G��4W�2�w�t�~��:1E��c{]>�ʉ�`&��&s�8�XD�t��O{I�ZU:�!�v EH�:���_.K��m����rx�X�dA ��6�h����E�)����c�Θr��`�(я����O�g{� ��C1U��f 4��7��]���j�y���pobN�� S�UfD��K 13. (B) temporary 2. Question: What is Project Management? If an unidentified risk occurs: (a) You will use the management reserve to manage it Skip to content +1-669-292-6575 info@justacademy.co; facebook ; twitter; google plus; linkedin; JustAcademy. What term can BEST describe the difference of $5,000? ��1�q�g��$�>�[��̙A2s�w�TW�ZU����~��o?����?x��7o>��w/s�ճ����g/��/����/�|�ٛ/_�z���� M���߼������p{�����7O�\���틧Oֺ��o�\��o_=}��z�%�}�[J��y�!�{�ƺ}}s��j�/�#��:}�����o��-��~/�j���uOCҌ�S�_Ý�}��k�O˺�|K���,�>��g/b�k����0�r/+��l)�{���;_��$�J�}gH��v[�~դ��Iߕ�m-���m��XR�_a.��'uM1~�v�-F�+��{|W���w,#��yo��_L�J�c��1��s�44[�/�r�{�ir %PDF-1.5 %���� 0 �.�.���4q�<6 PMP ® Certification is known as the golden standard in the field of project management.It attracts many experienced professionals who want to advance their career by a notch. <>>> Link: https://openpm.org. endstream endobj 249 0 obj<. The PMP®, or Project Management Professional, is an exam conducted by the Project Management Institute (PMI)®, is a globally recognized certification. (C) III only 5. The Triple constraint, scope-cost-time, is a key aspect of project management because each facet is critical and related to the other two. 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