Cost Management Question: Download Cost Management PDF

You are the project manager for a railroad construction project. Your Sponsor has asked you for a forecast for the cost of project completion. The project has a total budget of $80,000 abd CPI of .95 . The project has spent $25,000 of its budget so far. How much more money do you plan to spend on the project?

A. $59,210
B. $80,000
C $84,210
D $109,210

Answer:

A. $59,210

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A project manager needs to analyze the project costs to find ways to decrease costs. It would be BEST if the project manager looks at:

A. Variable costs and fixed costs
B. Fixed costs and indirect costs
C. Direct costs and variable costs
D. Indirect costs and direct costs

You are managing a project with a total budget of $450,000. According to the schedule, your team should have completed 45% of the work by now. But at the latest status meeting, the team only reported that 40% of the work has actually been completed. The team has spent $165,000 so far on the project. How would you best describe this project?

A. The project is ahead of schedule and within its budget.
B. The project is behind schedule and within its budget.
C. The project is ahead of schedule and over its budget.
D. The project is behind schedule and over its budget.