Project Controls PC 09 Rev 01

Cost of Actual Work to be Done and Risk contingency Allowance is collectively Known as what?

• Cost Break Down

• Cost Validation Fund

• Cost Baseline

• None of the options listed

Which statement is correct?

• The Project Budget is the Project Baseline

• The Project Budget once clearly identified allows the Project Manager to void the Project Baseline.

• The project Budget includes Management Reserves but the Baseline does not.

• The Project Budget includes Golfing Breaks for the Management Team.

The Triple Constraint Includes Scope, Time & Cost is this true or false in relation to the Project Baselines?

• True

• False

Once Baselines are created, validated, verified and authorised what does this allow Project Controllers to do?

• Monitor

• Control

• Analyse

• Report

• All options listed

Your ability to get people, equipment, and materials when they are needed are dependent on the funding provided as a result of your budget.​

• True

• False

Budgeting is important for your project because it provides the basis for project cost control.

• True

• False

How many Estimate Classes are recognised in Projects?

• 1

• 2

• 3

• 4

• 5

Change Requests are considered when creating the Project Baselines?

• True

• False

Which option defines OPEX (Operational Expenditure)?

• Day-to-day expenses a company incurs to keep its business operational.

• Major purchases a company makes that are designed to be used over the long term.

A typical type of Capitol Expenditure is which option?

• Buildings

• Equipment

• Machinery

• All options listed