How to get PMP Cost Management Practice Questions?

The Cost Management Plan would be establishing about cost on the project would be managed as well as is primarily concerned with the cost of the resources required for completing project work. These costs could also include lifecycle costs which would be addressing the recurring costs of utilizing, supporting, and maintaining the product.

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There would be a dozen questions or so on the exam relevant of earned value. If you would have never done this before, not to worry, we would guide you. We would be addressing all the required formulas and computations relevant to cost management for the exam would be the pages following. The process of cost management would be documented generally in the cost management plan.

Cost estimates would be based on the analysis of activities that would be created in the WBS as well as further elaborated in Define Activities and Estimate Activity Resources. Therefore, lots of the elements that would require for estimating the schedule would be also true for estimating cost.

Here would be some PMP Cost Management Practice Questions:

Q1: If EV is $550, AC is $650 as well as PV is $600, what would be the CV?
A. 50
B. -50
C. 100
D. -100

Q2: Which of the following isn’t a Tool as well as Technique for the process of Determine Budget?
A. Cost Aggregation
B. Resource Calendars
C. Funding Limit Reconciliation
D. Reserve Analysis

Q3: You are the Project Manager as well as in the process of midst appraisal at the end of the first year of a $50,000 project. The earned value analysis would be demonstrated that the PV is $25,000, the EV is considered to be about $20,000 and the AC is $15,000. What could be determined from these figures?
A. The project would be behind schedule and over budget
B. The project would be forward of schedule and under budget
C. The project would be ahead of schedule and over budget
D. The project would be schedule and under budget

SQ4: What do The CPI of 0.73 means?
A. The project would be costing you 73% more than originally planned
B. The project would be costing you 27% more than originally planned
C. The project would be costing you 73% less than originally planned
D. The project would only getting $0.73 out of every $1 spent

Q5: The SPI of 0.67 means?
A. You would be ahead of schedule by 33%
B. You would be behind schedule by 67%
C. You would be progressing at only 67% of the rate originally planned
D. You are progressing at only 33% of the rate originally planned

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Answers

Q1: D. -100
Q2: B. Resource Calendars
Q3: D. The project is behind schedule and under budget
Q4: D. The project would be only getting $0.73 out of every $1 spent
Q5: C. You would be progressing at only 67% of the rate originally planned

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	ACP
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