CMAN 272 EXAM 2 PRACTICE QUESTIONS
WITH DETAILED EXPLANATIONS 2026
◉ Project Budget.
Answer: A realistic estimate of the cost to complete the project work
Estimate too high; the project could be canceled
Estimate too low; the project will cost more and don't deliver
The Cost target you aim for as you manage a project
◉ Labor Cost.
Answer: What you paid people to work on the project
Vendors
Contractors
Employees
◉ Burdened Cost.
Answer: For employees
,Salary
Benefits
May get the rates from accounting or HR department
◉ Time-Based Resources Cost.
Answer: Rental equipment
Office space
◉ Material Cost.
Answer: New server
Training guides
Documentation notebooks
◉ Ancillary Cost.
Answer: The cost that is not part of Labor, Time Based Resources,
and Material cost
Travel
Training expenses
Fees
, ◉ Cash Flow.
Answer: Movement of the money you receive and the money you
spend
◉ What process do you estimate cost?.
Answer: ITTO Process
Inputs
Tools & Techniques
Outputs
◉ Inputs.
Answer: -Cost management plan
-Quality management plan
-Scope baseline
-Project documents
-Enterprise environmental factors
-Organizational process assets
◉ Cost Management Plan (Inputs).
Answer: Dictates how cost variances will be managed
WITH DETAILED EXPLANATIONS 2026
◉ Project Budget.
Answer: A realistic estimate of the cost to complete the project work
Estimate too high; the project could be canceled
Estimate too low; the project will cost more and don't deliver
The Cost target you aim for as you manage a project
◉ Labor Cost.
Answer: What you paid people to work on the project
Vendors
Contractors
Employees
◉ Burdened Cost.
Answer: For employees
,Salary
Benefits
May get the rates from accounting or HR department
◉ Time-Based Resources Cost.
Answer: Rental equipment
Office space
◉ Material Cost.
Answer: New server
Training guides
Documentation notebooks
◉ Ancillary Cost.
Answer: The cost that is not part of Labor, Time Based Resources,
and Material cost
Travel
Training expenses
Fees
, ◉ Cash Flow.
Answer: Movement of the money you receive and the money you
spend
◉ What process do you estimate cost?.
Answer: ITTO Process
Inputs
Tools & Techniques
Outputs
◉ Inputs.
Answer: -Cost management plan
-Quality management plan
-Scope baseline
-Project documents
-Enterprise environmental factors
-Organizational process assets
◉ Cost Management Plan (Inputs).
Answer: Dictates how cost variances will be managed
