CAPM CAPM Cost & Schedule Management 2

Question 1

Fast tracking as a schedule compression technique involves:

Accepted Answer

Performing activities in parallel that were originally planned in sequence

Answer

Adding more resources to critical path activities

Answer

Removing scope to shorten the schedule

Answer

Using a faster, more experienced team on the project

Question 2

What does the Estimate at Completion (EAC) represent in Earned Value Management?

Accepted Answer

The expected total cost of the project when it is finished

Answer

The original approved project budget

Answer

The amount of money spent to date

Answer

The difference between the budget and actual costs

Question 3

In project scheduling, what is the difference between a mandatory dependency and a discretionary dependency?

Accepted Answer

Mandatory dependencies are legally or contractually required; discretionary are preferred sequencing choices

Answer

Mandatory dependencies involve external vendors; discretionary involve internal teams

Answer

Mandatory dependencies are on the critical path; discretionary are not

Answer

Mandatory dependencies cannot be changed; discretionary can be changed by the sponsor

Question 4

Which type of cost is incurred regardless of project output, such as executive salaries and facility leases?

Accepted Answer

Fixed cost

Answer

Variable cost

Answer

Direct cost

Answer

Sunk cost

Question 5

What is a contingency reserve in project cost management?

Accepted Answer

Budget allocated to handle identified risks with known probability and impact

Answer

Budget set aside by senior management for unknown unknowns

Answer

A fixed percentage added to all cost estimates automatically

Answer

The difference between the budget baseline and the cost baseline

Question 6

Which scheduling output represents the planned dates for starting and finishing project activities?

Accepted Answer

Project schedule baseline

Answer

Work breakdown structure

Answer

Activity list

Answer

Responsibility assignment matrix