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Cards In This Set
| Front | Back |
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Which type of project
cost estimate is the most accurate?
A. Preliminary B. Definitive C. Order of magnitude D. Conceptual |
B. Definitive
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Which of the following
type of contracts is most preferable to the contractor doing the project work?
A. Cost plus fixed fee B. Fixed price C. Fixed price plus incentive free D. B and C |
A. Cost plus fixed fee
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To assist in budget
control, it is suggested that the estimate occur at the _______ level
of the WBS
A. Highest B. Lowest C. Major work effort D. Third |
B. Lowest
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Cost Variance (CV) is
which of the following equations?
A. CV = BCWP - BCWS B. CV = BCWP - ACWP C. CV = SV / BCWS D. A and c |
B. CV = BCWP - ACWP
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Cost budgeting can be
best described by which of the following?
A. The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project B. The process of assembling and predicting costs of a project over its life cycle C. The process of establishing budgets, standards, and a monitoring system by which the investment cost of the project can be measured and managed D. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis |
C. The process of establishing budgets, standards, and a monitoring system by which the investment cost of the project can be measured and managed
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Which of the following
is a direct project cost?
A. Lighting and heating for the corporate office B. Workers Compensation insurance C. Piping for an irrigation project D. A and B |
C. Piping for an irrigation project
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Cost controls can be
best described by which of the following?
A. The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project B. The process of assembling and predicting costs of a project over its life cycle C. The process of assembling and predicting costs of a project over its life cycle D. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis. |
D. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis.
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The BCWS = $250, the
ACWP = $350, and the BCWP = $200. Calculate the Cost Variance.
A. -$150 B. $150 C. -$50 D. $50 |
A. -$150
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Life Cycle Costing is a
term that is:
A. used when making decisions between alternatives B. employed principally by the government C. typically used in the construction industry D. not used within the government E. A and B |
E. A and B
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