Project Cost Management

Project Cost Management

University

12 Qs

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Project Cost Management

Project Cost Management

Assessment

Quiz

Engineering

University

Practice Problem

Medium

Created by

Aiman Akif

Used 2+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total of direct and indirect costs incurred in accomplishing work on an activity during a given period known as?

Earned value (EV)

Actual Cost (AC)

Budget at Completion (BAC)

Schedule Variance (SV)

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the cost estimate that provides an accurate estimate of project costs called?

Contingency Reserves

Baseline

Direct Costs

Definitive Estimate

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Costs that are not directly related to the products or services of the project, but are indirectly related to the project's performance are known as___________.

Intangible Costs

Sunk Cost

Tangible Costs

Indirect Costs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the processes required to ensure that the project is completed within the approved budget known as?

Management Reserves

Project Cost Management

Rate of Performance

Planned Value

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of project cost estimate is the most accurate?

Preliminary
Order of magnitude
Conceptual
Definitive

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Project Cost Management Process comprises the following activities:
a. Determine Budget
b. Plan Cost Management
c. Estimate Costs
d. Control Costs
What is the correct sequence?

a-b-c-d
c-a-b-d
b-c-a-d
a-c-b-d

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Project Cost Management?

planning, estimating, budgeting

financing, managing, controlling

planning, estimating, budgeting, financing, managing and controlling

planning, , managing, controlling

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