QUESTION: 41

In which situation is it required to update/change the cost baseline?

Roll-out delays affecting the original cost plan.
Change in subcontractor prices.
Scope changes supported by a legal binding document.
When a risk has materialized.

Answer(s): C

It has been established that an unplanned urgent actMty needs to be performed before the agreed work can be completed within the given schedule. The prudency principle is required to be applied, so what is the correct approach?

The existing subcontractor purchase order is modified once work has been completed to ensure accurate payment towards subcontractor.
A scratch SvO is raised and the cost is booked as NCC until Customer PO has been received.
A contract change is requested from the customer as the task was not included in the originally contracted scope.
Any such actMty will be covered from the risk contingency agreed as part of the project cost baseline.

Answer(s): B

Reveal Solution Next Question

QUESTION: 43

What are the primary responsibilities of the Cost & Progress Manager?

To issue the purchase orders in a timely manner to subcontractors.
To prepare the baseline independently and present to PM for approval prior to project start.
To ensure that invoices are processed in a timely fashion and delays to subcontractor payments are avoided.
Cost control and monitoring, including regular reviews with the Project IV|anager.

Answer(s): D

Reveal Solution Next Question