http://www.alsenosy.com | http://www.professionalengineers.uso Process
descriptions...
o Additionaldetails...
103 - 104 - 105 - 106
- Answer: C.
PMBOK®Guide,page 248 ,Section 7. 3 ;andpages 257 – 259 ,Section 7. 4
DetermineBudget
DetermineBudgetistheprocessofaggregatingtheestimatedcostsofindividualactivitiesorwork
packagestoestablishanauthorizedcostbaseline.Thekeybenefitofthisprocessisthatitdetermines
thecostbaselineagainstwhichprojectperformancecanbemonitoredandcontrolled.
Control Costs
ControlCostsistheprocessofmonitoringthestatusoftheprojecttoupdatetheprojectcostsand
managingchangestothecostbaseline.Thekeybenefitofthisprocessisthatitprovidesthemeans
torecognizevariancefromtheplaninordertotakecorrectiveactionandminimizerisk.
Thekeytoeffectivecostcontrolisthemanagementoftheapprovedcostbaselineandthechanges to
thatbaseline.
Projectcostcontrolincludes:
o Influencingthefactorsthatcreatechangestotheauthorizedcostbaseline...
108.Answer:B.
PMBOK®Guide,pages 253 – 254 ,Section 7. 3. 3. 1 ,Figure 7 – 8 andFigure 7 – 9
CostBaseline
The cost baseline is the approved version of the time-phased project budget, excluding any
managementreserves,whichcanonlybechangedthroughformalchangecontrolproceduresandis
usedasabasisforcomparisontoactualresults.Itisdevelopedasasummationoftheapproved
budgetsforthedifferentscheduleactivities.Figure 7 – 8 illustratesthevariouscomponentsofthe
projectbudgetandcostbaseline.Activitycostestimatesforthevariousprojectactivities,alongwith
anycontingencyreserves fortheseactivities,areaggregatedintotheir associatedworkpackage
costs.Theworkpackagecostestimates,alongwithanycontingencyreservesestimatedforthework
packages,areaggregatedintocontrolaccounts.Thesummationofthecontrolaccountsmakeupthe
costbaseline.Since the costestimatesthat makeup the costbaseline aredirectly tiedto the
scheduleactivities,thisenablesatime-phasedviewofthecostbaseline,whichistypicallydisplayed
intheformofanS-curve,asisillustratedinFigure 7 – 9.
Managementreservesareaddedtothecostbaselinetoproducetheprojectbudget.Aschanges
warrantingthe useofmanagement reservesarise,thechange controlprocessisusedto obtain
approvaltomovetheapplicablemanagementreservefundsintothecostbaseline.
109.Answer: D.
PMBOK®Guide,pages 256 – 258 ,Section 7. 4