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PMI CAPM Exam
Certified Associate in Project Management (PMI-100) (Page 13 )

Updated On: 12-Jan-2026
Page 13 of 222
PDF with 1305 Questions

Cost variance (CV) is equal to earned value:

  1. Minus actual cost [EV - AC].
  2. Minus planned value [EV - PV].
  3. Divided by actual cost [EV/AC].
  4. Divided by planned value [EV/PV].

Answer(s): A

Explanation:

CV = EV - AC CPI = EV / AC SV = EV - PV SPI = EV / PV



Cost of quality (COQ) refers to total cost of/to:

  1. All efforts related to quality.
  2. Product inspection activities.
  3. Maintain plan quality.
  4. Perform quality control.

Answer(s): B



Cost aggregation is typically performed by aggregating work packages in accordance with the:

  1. Program evaluation and review technique (PERT).
  2. Cost of quality (COQ).
  3. Rough order of magnitude (ROM).
  4. Work breakdown structure (WBS).

Answer(s): D

Explanation:

7.3.2.1 Cost Aggregation
Cost estimates are aggregated by work packages in accordance with the WBS. The work package cost estimates are then aggregated for the higher component levels of the WBS (such as control accounts) and ultimately for the entire project.



What entity is assigned various responsibilities related to the centralized and coordinated management of those projects under its domain?

  1. Project management office
  2. Project team office
  3. Executive sponsor office
  4. Program management office

Answer(s): A



Budgets reserved for unplanned changes to project scope and cost are:

  1. Contingency reserves.
  2. Management reserves.
  3. Authorized budgets.
  4. Cost baselines.

Answer(s): B

Explanation:

6.5.2.6 Reserve Analysis
Definition: estimates may include contingency reserves, sometimes referred to as time reserves or buffers, into the project schedule to account for schedule uncertainty. Contingency reserves are the estimated duration within the schedule baseline, which is allocated for identified risks that are accepted and for which contingent or mitigation responses are developed. Contingency reserves are associated with the “known-unknowns,” which may be estimated to account for this unknown amount of rework.
As more precise information about the project becomes available, the contingency reserve may be used, reduced, or eliminated. Contingency should be clearly identified in schedule documentation.
[..]
Estimates may also be produced for the amount of management reserve of time for the project. Management reserves are a specified amount of the project duration withheld for management control purposes and are reserved for unforeseen work that is within scope of the project. Management reserves are intended to address the “unknown-unknowns” that can affect a project. Management reserve is not included in the schedule baseline, but it is part of the overall project duration requirements. Depending on

contract terms, use of management reserves may require a change to the schedule baseline.



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