QUESTION: 205 Exam Topic: 1, Volume A

Cost management includes processes that are required to maintain financial control of projects. These processes may include:

economic evaluation
cost estimating and cost forecasting
cost estimating
cost forecasting
All of the other alternatives apply.

Answer(s): E

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QUESTION: 206 Exam Topic: 1, Volume A

Communication plays a major role in:

Organizing
Controlling
All of the other alternatives apply
Directing
Planning

Answer(s): C

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QUESTION: 207 Exam Topic: 1, Volume A

A Project with a total funding of $70,000 finished with a BAC value of $60,000.
What term can best describe the difference of $10,000?

Management Overhead
Management Contingency Reserve
Cost Variance
Schedule Variance

Answer(s): B

Explanation:

The difference between the Cost Baseline and Funding requirement at Project completion is Management Contingency Reserve. BAC represents the revised Cost baseline for the project. So Management Contingency Reserve is true.

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QUESTION: 208 Exam Topic: 1, Volume A

You are a project manager for an agricultural supply company. You have just completed and obtained sign-off on the project scope statement for your new Natural Bug Busters project. A key stakeholder has informed you that a deliverable is missing from the project scope statement. This deliverable is a critical success factor.
Which of the following actions should you take?

Modify the scope statement to reflect the new deliverable.
Modify the scope statement after an approved change request has been received from the stakeholder.
Inform the stakeholder that work not stated in the scope statement is excluded from the project.
Inform the stakeholder that this deliverable must be included in phase two of this project since sign-off has already been obtained.

Answer(s): B

Explanation:

The project scope statement will change throughout the project as change requests are received and approved. Project managers must be certain to discover all deliverables before publishing the project scope statement to prevent situations like the one described in this question.

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Free PPM-001 Exam Braindumps (page: 52)

QUESTION: 205 Exam Topic: 1, Volume A

QUESTION: 206 Exam Topic: 1, Volume A

QUESTION: 207 Exam Topic: 1, Volume A

Explanation:

QUESTION: 208 Exam Topic: 1, Volume A

Explanation: