WRAP APPRENTICESHIP PROJECT MANAGEMENT - MK 1:

MANAJEMEN PROYEK TI-44-21 [FBY]

/ Project Cost / Quiz Week 8 - 9: Cost Management

Started on Saturday, 2 December 2023, 7:05 AM

State Finished

Completed on Saturday, 2 December 2023, 7:19 AM

Time taken 13 mins 55 secs

Marks 15.00/20.00

Grade 7.50 out of 10.00 (75%)

Question 1

Correct

Mark 1.00 out of 1.00

Diana is the project manager for a complex project. Diana suspects that some of her project team
members are filling false claims and having false invoices reimbursed. The invoice charges are
being charged to the project budget. During which of the following processes can Diana confirm
her suspicious regarding her project teams actions?

Select one:

a. Control Scope

b. Validate Scope

c. Control Schedule

d. Control Costs 

The correct answer is: Control Costs

Correct

Mark 1.00 out of 1.00

Crystal is making a presentation on her projects during a board meeting. Although Crystal knows
that the project is behind schedule and will be at least a month late, she announces that by the
end of her project, her projects total schedule variance will be zero. As the board members do not
understand Earned Value Management (EVM) Crystal explains that the schedule variance is
calculated by subtracting the projects total planned values from the projects total earned value.
What can be concluded from this information?

Select one:

a. Crystal is an ethical project manager

b. Crystal is lying

c. Crystal is stating the facts

d. Crystal is trying to deceive the board members 

The correct answer is: Crystal is trying to deceive the board members

Question 3

Correct

Mark 1.00 out of 1.00

Which of the following components of the Project Management Plan is/are specifically considered
during the Contol Costs process?

Select one:

a. Cost Management Plan

b. Both Cost Performance Baseline and Cost Management Plan 

c. Cost Perfoemance Baseline, Cost Management Plan and Activity Cost Estimates

d. Cost Performance Baseline

The correct answer is: Both Cost Performance Baseline and Cost Management Plan
Question 4

Correct

Mark 1.00 out of 1.00

Which of the following is not part of Project Cost Management?

Select one:

a. Controlling

b. Budgeting

c. Estimating

d. Sequencing 

The correct answer is: Sequencing

Question 5

Correct

Mark 1.00 out of 1.00

Which of the following processes develops an approximation of the monetary resources needed to
complete project activities?

Select one:

a. Determine Budget

b. Control Costs

c. Approve Costs

d. Estimate Costs 

The correct answer is: Estimate Costs

Incorrect

Mark 0.00 out of 1.00

Which of the following indicates the relationship among the Direct and Manage Project Work,
Control Cost and Determine Budget processes?

Select one:

a. Both the Direct and Manage Project Work and the Determine Budget processes provide inputs to
the Control Cost process

b. The Determine Budget process provides inputs to the Control Costs process but these processes
are not related to the Direct and Manage Project Work process

c. The Direct and Manage Project Work process provides inputs to the Control Costs process which 
then provides inputs to the Determine Budget process

d. The Determine Budget process provides inputs to the Control Costs process which then provides
inputs to the Direct and Manage Project Work process

The correct answer is: Both the Direct and Manage Project Work and the Determine Budget
processes provide inputs to the Control Cost process

Question 7

Correct

Mark 1.00 out of 1.00

Which of the following statements regarding Earned Vale (EV) is correct?

Select one:

a. The EV measure is always greater than the authorized Planned Value Budget for a component

b. The term EV is often used to describe the percentage completion of project 

c. The EV being measured is always greater than 1

d. The EV is not used to measure the Cost Performance Index (CPI)

The correct answer is: The term EV is often used to describe the percentage completion of project
Question 8

Incorrect

Mark 0.00 out of 1.00

The following Gantt chart displays the schedule for telecom site construction project. It contains
seven activities and a hammock activity. The chart also displays various activity metrics.
According to the original plan the first two activities should have been completed along with 50%
of the work on the third activity, Perform Civil Works. However, only the first two activities have been
completed and for some reason, no work has been performed on the third activity. What is the
projects current SPI?

Select one:

a. 2

b. 1 

c. 0

d. 0.5

The correct answer is: 0.5

Question 9

Incorrect

Mark 0.00 out of 1.00

Which of the following Depreciation Methods provides for a higher write-off early on as compared
to other methods?

Select one:

a. Units of Time Depreciation

b. Sum-of-Years Digits

c. Declining Balance 

d. Straight-Line Depreciation

The correct answer is: Sum-of-Years Digits

Incorrect

Mark 0.00 out of 1.00

According to the approved plan, Flora should have completed the site inspection, site excavation,
lay foundation, and assemble tower tasks. What is the projects current Cost Variance (CV)

Select one:

a. -1200

b. 7500

c. -7500

d. 1200 

The correct answer is: -1200

Question 11

Correct

Mark 1.00 out of 1.00

In Kims current project, some of the activity costs deviated from the baseline by $150. This seems
to be low but she wants to verify the project documents to see if the deviation is within the
threshold. Where should she look for control threshold information?

Select one:

a. Organizational Process Assets

b. Performance Measurment Baseline

c. Coast Performance Baseline

d. Cost Management Plan 

The correct answer is: Cost Management Plan

Correct

Mark 1.00 out of 1.00

Which of the following formulas is used to calculate the EAC forecast for ETC work performed at
the present CPI?

Select one:

a. BAC / cumulative CPI 

b. AC + bottom-up ETC

The correct answer is: BAC / cumulative CPI

Question 13

Correct

Mark 1.00 out of 1.00

Which of the following Earned Value measurements is project cost trend indicator?

Select one:

a. Cost Variance (CV)

b. Estimate at Completion (EAC)

c. Schedule Variance (SV)

d. Cost Performance Index (CPI) 

The correct answer is: Cost Performance Index (CPI)

Question 14

Correct

Mark 1.00 out of 1.00

Which of the following is not a tool or technique of the Determine Budget process?

Select one:

a. Funding Limit Reconciliation

b. Historical Relationships

c. Cost Aggregation

d. Planning Meetings and Analysis 

The correct answer is: Planning Meetings and Analysis

Correct

Mark 1.00 out of 1.00

What is a Sunk Cost?

Select one:

a. Hidden cost

b. Discounted cost

c. Unrecoverable cost 

d. Depreciated cost

The correct answer is: Unrecoverable cost

Question 16

Correct

Mark 1.00 out of 1.00

Which of the following is not an input to the Determine Budget process?

Select one:

a. Activity Cost Estimates

b. Agreements

c. Resource Calendars

d. Approved Change Request 

The correct answer is: Approved Change Request

Question 17

Incorrect

Mark 0.00 out of 1.00

Which of the following will be true about the value of the CPI at the end of any project?

Select one:

a. It would be positive

b. It would be negative

c. It would be zero

d. Cannot be determined 

The correct answer is: It would be positive

Correct

Mark 1.00 out of 1.00

What is the total approved plan for the project work to which the project execution is compared
known as?

Select one:

a. Performance Measurement Baseline 

b. Cost Variance

c. Management Reserves

d. Earned Value (EV)

The correct answer is: Performance Measurement Baseline

Question 19

Correct

Mark 1.00 out of 1.00

Which of the following statements regarding the Budget at Completion (BAC) and the Estimate at
Completin (EAC) is correct for any project?

Select one:

a. The BAC is always equal to the EAC

b. The EAC is always greater than the BAC

c. The BAC is not dependent on the EAC 

d. The BAC is always greater than the EAC

The correct answer is: The BAC is not dependent on the EAC
Question 20

Correct

Mark 1.00 out of 1.00

Which of the following deprecistion methods depreciates the same amount (or percent) each
year by dividing the assets cost by the number of years it is expected to be in service?

Select one:

a. Declining Balance

b. Sum-of-Years Digits

c. Units of Time

d. Straight line 

The correct answer is: Straight line

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