PM Test Center » cost http://pmtestcenter.com FREE daily project management test questions for PMP®, CAPM®, and Project+ exams! Sat, 19 May 2012 04:01:41 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Most accurate estimating type http://pmtestcenter.com/most-accurate-estimating-type?utm_source=rss&utm_medium=rss&utm_campaign=most-accurate-estimating-type http://pmtestcenter.com/most-accurate-estimating-type#comments Fri, 11 May 2012 04:01:55 +0000 Gabe Young http://pmtestcenter.com/?p=253

Which of the following estimating types provides the most accuracy?

A. Parametric
B. Analogous
C. Bottom-up
D. Top-down

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]]> http://pmtestcenter.com/most-accurate-estimating-type/feed 0 Benefit cost ratio (BCR) http://pmtestcenter.com/benefit-cost-ratio-bcr?utm_source=rss&utm_medium=rss&utm_campaign=benefit-cost-ratio-bcr http://pmtestcenter.com/benefit-cost-ratio-bcr#comments Wed, 09 May 2012 04:01:51 +0000 Gabe Young http://pmtestcenter.com/?p=238

There are two projects being evaluated but only one can be undertaken. Your finance department decides to use Benefit Cost Ratio (BCR) to help make the decision. Before they even perform the BCR, they inform you that a possible outcome is that neither is a good fit for the organization and you may have to find another solution. After completing their analysis they determine that Project A has a BCR of 0.8 and Project B has a BCR of 0.6. Based on their BCR scores, you should:

A. Choose Project A
B. Choose Project B
C. Choose neither and seek alternative projects
D. Ask for more information to make a decision

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]]> http://pmtestcenter.com/benefit-cost-ratio-bcr/feed 0 Estimating tool for a project similar to another http://pmtestcenter.com/estimating-tool-for-a-project-similar-to-another?utm_source=rss&utm_medium=rss&utm_campaign=estimating-tool-for-a-project-similar-to-another http://pmtestcenter.com/estimating-tool-for-a-project-similar-to-another#comments Thu, 03 May 2012 04:01:43 +0000 Gabe Young http://pmtestcenter.com/?p=74

Jamie, the project manager for creating a new product, recognizes that she will need help estimating. Since she has not managed a project like this before, she decides she will review past projects that company has completed for other products. This is an example of:

A. Analogous estimating
B. PERT
C. Expert judgment
D. Parametric estimating

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]]> http://pmtestcenter.com/estimating-tool-for-a-project-similar-to-another/feed 0 CV explained http://pmtestcenter.com/cv-explained?utm_source=rss&utm_medium=rss&utm_campaign=cv-explained http://pmtestcenter.com/cv-explained#comments Tue, 01 May 2012 04:01:23 +0000 Gabe Young http://pmtestcenter.com/?p=213

One of your monthly reports claim that your project has a CV of 2000. How would you describe it to your sponsor?

A. The project is $2000 over budget
B. The project is $2000 under budget
C. CV of anything over 1000 is irrelevant
D. Not enough information

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]]> http://pmtestcenter.com/cv-explained/feed 0 Labor cost http://pmtestcenter.com/labor-cost?utm_source=rss&utm_medium=rss&utm_campaign=labor-cost http://pmtestcenter.com/labor-cost#comments Mon, 16 Apr 2012 04:01:17 +0000 Gabe Young http://pmtestcenter.com/?p=178

While planning your budget, you decide to categorize your types of costs. Labor, the biggest cost on the project, is best categorized as a(n):

A. Fixed cost
B. Variable cost
C. Direct cost
D. Indirect cost

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]]> http://pmtestcenter.com/labor-cost/feed 0 Getting better over time http://pmtestcenter.com/getting-better-over-time?utm_source=rss&utm_medium=rss&utm_campaign=getting-better-over-time http://pmtestcenter.com/getting-better-over-time#comments Sat, 14 Apr 2012 04:01:12 +0000 Gabe Young http://pmtestcenter.com/?p=174

Part of your project includes building one hundred widgets. You know that it will take longer and be more costly to do the first widget as opposed to the one-hundredth widget because of improved efficiency. This is known as:

A. Historical information
B. Bottom up estimating
C. Learning curve
D. PERT estimating

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]]> http://pmtestcenter.com/getting-better-over-time/feed 0 Opportunity cost http://pmtestcenter.com/opportunity-cost?utm_source=rss&utm_medium=rss&utm_campaign=opportunity-cost http://pmtestcenter.com/opportunity-cost#comments Tue, 10 Apr 2012 04:01:21 +0000 Gabe Young http://pmtestcenter.com/?p=162

During the project selection stage, you learn that the value of Project A is $100,000 and the value of Project B is $75,000. Ultimately, Project A was chosen. As a result, the opportunity cost of that decision is:

A. $100,000
B. $75,000
C. $25,000
D. $175,000

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]]> http://pmtestcenter.com/opportunity-cost/feed 2 PERT formula http://pmtestcenter.com/pert-formula?utm_source=rss&utm_medium=rss&utm_campaign=pert-formula http://pmtestcenter.com/pert-formula#comments Fri, 06 Apr 2012 04:01:39 +0000 Gabe Young http://pmtestcenter.com/?p=135

The PERT formula is typically calculated as:

A. (O+M+P)/6
B. (O+4M+P)/6
C. (O+M+P)/3
D. (O+4M+P)/3

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]]> http://pmtestcenter.com/pert-formula/feed 0 CPI and SPI: The under-rated indicators http://pmtestcenter.com/cpi-and-spi-the-under-rated-indicators?utm_source=rss&utm_medium=rss&utm_campaign=cpi-and-spi-the-under-rated-indicators http://pmtestcenter.com/cpi-and-spi-the-under-rated-indicators#comments Tue, 03 Apr 2012 04:01:39 +0000 Gabe Young http://pmtestcenter.com/?p=44

Six months into a year-long project your CPI is 0.8. However, your SPI is 1.2. This means that the project is:

A. Ahead of schedule and under budget
B. Ahead of schedule and over budget
C. Behind schedule and under budget
D. Behind schedule and over budget

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]]> http://pmtestcenter.com/cpi-and-spi-the-under-rated-indicators/feed 0 CPI — what does it mean? http://pmtestcenter.com/cpi-what-is-it-trying-to-tell-me?utm_source=rss&utm_medium=rss&utm_campaign=cpi-what-is-it-trying-to-tell-me http://pmtestcenter.com/cpi-what-is-it-trying-to-tell-me#comments Mon, 02 Apr 2012 04:01:08 +0000 Gabe Young http://pmtestcenter.com/?p=37

As the project manager with a cost conscience sponsor, you have been monitoring earned value throughout the year long project. At the halfway point, you report that the CPI is 0.8. This means that the project is:

A. Ahead of schedule
B. Under budget
C. Behind schedule
D. Over budget

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]]> http://pmtestcenter.com/cpi-what-is-it-trying-to-tell-me/feed 0