Cost Management Question:
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Which of the following are ALL items included in the cost management plan?

A. The level of accuracy needed for estimates, rules for measuring cost performance, specifications for how duration estimates should be stated
B. Specifications for how estimates should be stated, rules for measuring cost performance, the level of accuracy needed for estimates
C. Rules for measuring team performance, the level of accuracy needed for estimates, specifications for how estimates should be stated
D. Specifications for how estimates should be stated, the level of risk needed for estimates, rules for measuring cost performance

Cost Management Interview Question
Cost Management Interview Question

Answer:

B. Specifications for how estimates should be stated, rules for measuring cost performance, the level of accuracy needed for estimates

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Which of the following represents the estimated value of the work actually accomplished?

A. Earned value (EV)
B. Planned value (PV)
C. Actual cost (AC)
D. Cost variance (CV)		Your project has a medium amount of risk and is not very well defined. The sponsor hands you a project charter and asks you to confirm that the project can be completed within the project cost budget. What is the BEST method to handle this?

A. Build the estimate in the form of a range of possible results
B. Ask the team members to help estimate the cost based on the project charter
C. Based on the information you have, calculate a parametric estimate
D. Provide an analogous estimate based on past history.