ISOM EXAM 3 WITH ALL CORRECT & 100% VERIFIED
ANSWERS||LATEST VERSION||ALREADY GRADED A+
In many cases, there will be a tradeoff, reducing cost variances will involve a reduction in project
scope or a delay in the project schedule. ✔Correct Answer-True
the key to managing cash flow is to ensure that cash comes in faster than it goes out ✔Correct
Answer-True
The total project cost is often estimated during the ________ phase of the project or when the
project charter or a proposal is prepared ✔Correct Answer-Initiating
it's important that the person estimating the percent complete not only assess how much work has
been performed but also consider ✔Correct Answer-What work remains to be done
historical data can be used as a guide on the current project ✔Correct Answer-True
Calculate the cost variance if the cumulative earned value is $10 and the cumulative actual costs are
$20 ✔Correct Answer--$10
if the cumulative earned value is $10 and the cumulative actual costs are $20, then the CPI is:
✔Correct Answer-.05
Cost Performance Index (CPI) is a measure of the cost efficiency with which the project is being
performed. If the cumulative earned value is greater than the cumulative actual costs, then
✔Correct Answer-the CPI is greater than 1.0
At the beginning of the project, it may not be possible to estimate the costs for all activities with a
level of confidence regarding their accuracy. This is especially true for ✔Correct Answer-Longer-
term projects
it is important to manage the cash flow on a project ✔Correct Answer-True
consider a project that involves painting five similar houses over 10 weeks (one house every two
weeks) for a total budgeted cost of $20,000. The budget is $4,000 per house. At of the end of week
5, you determine that $10,000 has actually been spent and three house have been painted
completely. What is the earned value of the project? ✔Correct Answer-$12,000
based on analysis of actual cost it is possible to forecast what the total costs will be at the completion
of the project or work package ✔Correct Answer-True
the key to effective cost control is to analyze cost performance on a regular and timely basis
✔Correct Answer-true
the worst scenario from the contractor's point of view is to have the customer make only one
payment at the end of the project ✔Correct Answer-true
when the budgets for all the work packages are summed ✔Correct Answer-they cannot exceed the
total project budgeted cost
ANSWERS||LATEST VERSION||ALREADY GRADED A+
In many cases, there will be a tradeoff, reducing cost variances will involve a reduction in project
scope or a delay in the project schedule. ✔Correct Answer-True
the key to managing cash flow is to ensure that cash comes in faster than it goes out ✔Correct
Answer-True
The total project cost is often estimated during the ________ phase of the project or when the
project charter or a proposal is prepared ✔Correct Answer-Initiating
it's important that the person estimating the percent complete not only assess how much work has
been performed but also consider ✔Correct Answer-What work remains to be done
historical data can be used as a guide on the current project ✔Correct Answer-True
Calculate the cost variance if the cumulative earned value is $10 and the cumulative actual costs are
$20 ✔Correct Answer--$10
if the cumulative earned value is $10 and the cumulative actual costs are $20, then the CPI is:
✔Correct Answer-.05
Cost Performance Index (CPI) is a measure of the cost efficiency with which the project is being
performed. If the cumulative earned value is greater than the cumulative actual costs, then
✔Correct Answer-the CPI is greater than 1.0
At the beginning of the project, it may not be possible to estimate the costs for all activities with a
level of confidence regarding their accuracy. This is especially true for ✔Correct Answer-Longer-
term projects
it is important to manage the cash flow on a project ✔Correct Answer-True
consider a project that involves painting five similar houses over 10 weeks (one house every two
weeks) for a total budgeted cost of $20,000. The budget is $4,000 per house. At of the end of week
5, you determine that $10,000 has actually been spent and three house have been painted
completely. What is the earned value of the project? ✔Correct Answer-$12,000
based on analysis of actual cost it is possible to forecast what the total costs will be at the completion
of the project or work package ✔Correct Answer-True
the key to effective cost control is to analyze cost performance on a regular and timely basis
✔Correct Answer-true
the worst scenario from the contractor's point of view is to have the customer make only one
payment at the end of the project ✔Correct Answer-true
when the budgets for all the work packages are summed ✔Correct Answer-they cannot exceed the
total project budgeted cost
