http://www.alsenosy.com | http://www.professionalengineers.usControl Costs
Project cost controlincludes:
o influencing the factors that create changes to the authorized costbaseline;
o Ensuring that all change requests are acted on in a timely manner;
o Managing the actual changes when and as theyoccur;
o Ensuring that cost expenditures do not exceed the authorized funding by period, by WBS
component, by activity, and in total for theproject;
o Monitoring cost performance to isolate and understand variances from the approved cost
baseline;
o Monitoring work performance against funds expended;
o Preventing unapproved changes from being included in the reported cost or resourceusage;
o Informing appropriate stakeholders of all approved changes and associated costs;and
o Bringing expected cost overruns within acceptablelimits.
110.Answer: B.
PMBOK® Guide, pages 261 – 265 , Section 7. 4. 2. 2 ; and Figure 7 – 12
Agood understanding ofthe earnedvalueanalysisisrequired toproperlyinterpretthisgraph.
ReviewtheentireSection 7. 4. 2. 2 forafulldescription.
111.Answer: C.
PMBOK® Guide, page 265 , Section 7. 4. 2. 2 ;
Forecasting
Theprojectmanager'smanualEACisquicklycomparedwitharangeofcalculatedEACsrepresenting
variousriskscenarios.WhencalculatingEACvalues,thecumulativeCPIandSPIvaluesaretypically
used. While EVMdata quickly provide many statistical EACs, only three of the morecommon
methodsaredescribedasfollows:
o EACforecastforETCworkperformedatthebudgetedrate.ThisEACmethodacceptstheactual
projectperformancetodate(whetherfavorableorunfavorable)asrepresentedbytheactualcosts,
andpredictsthatallfutureETCworkwillbeaccomplishedatthebudgetedrate.Whenactual
performance is unfavorable,the assumption that futureperformance will improve should be
acceptedonlywhensupportedbyprojectriskanalysis.Equation:EAC=AC+(BAC–EV)
- Answer: A.
PMBOK® Guide, pages 264 – 265 , Section 7. 4. 2. 2
Forecasting
Theprojectmanager'smanualEACisquicklycomparedwitharangeofcalculatedEACsrepresenting
variousriskscenarios.WhencalculatingEACvalues,thecumulativeCPIandSPIvaluesaretypically
used. While EVMdata quickly provide many statistical EACs, only three of the morecommon
methodsaredescribedasfollows: