41) answer is a) because Managing costs, as well as other project attributes tha

Question

41) answer is a) because Managing costs, as well as other project attributes that contribute to cost, is a significant challenge faced by project managers every day. Fortunately project managers have various tools available that can be used to effectively manage project costs while successfully accomplishing all project tasks and deliverables. The challenge is to understand all of the factors that contribute to project costs and using the tools available at the right times and for the right reasons
42) answer is e) because Direct costs are costs that can be easily traced to a particular object such as a product, the raw materials used to manufacture a product or the labor associated with the work to produce the product.

43) answer is b) S curves .as it is defined as "A display of cumulative costs, labor hours or other quantities plotted against time. The name derives from the S-like shape of the curve, flatter at the beginning and end and steeper in the middle, which is typical of most projects.

44) answer is a) A work authorization form is the document authorizing functional areas to charge against the project.

45) answer is e) work authorization form are needed to authorize line organization to charge against the project and to develop a structural methodology for release of funds.

46) PV = BAC * (time passed/total schedule time)

PV = Rs. 600,000 * (3 weeks/12 weeks) = Rs. 150,000

So answer is c)

Explanation / Answer

I. The reason that cost management is so difficult in project management is t a Projects by definition and nature are nonrecurring events and are therefore difficule to predict There are no tools for identifying project tasks e. Project managers do not care about tracking costs, as only schedules are important to all d. b. A and B only e. B and C only 4A. Which of the following is considered a direct cost for producing a widget? a. The cost of the materials used to produce a widget b. The labor costs of the workers who actually produced the widget c. The rent for the building in which the widget was manufacturesd d. The salary of senior management and the project sponsor e. A and B only 43. Graphical displays of accumulated cost and labor hours, plotted as a function of time, are called: a. b. c. d. e. Variance reports S curves Trend analysis Earned value reporting Baseline control 44· The document authorizing functional areas to charge against the project is the a. Work authorization form b. Scope baseline c. Project charter d. Management plan e. Linear responsibility chart 45e Work authorization forms are needed in order to: a. b. Authorize line organizations to chatge against the project Establish an audit trail c. Develop a structured methodology for release of funds d. All of the above e. A and C only b Aume that you are the project manager for the cotruction of 15 mile ond Further asume that the wock is uniformly distributed over 12 weeks. The total budget for this project is 5600,000. At the end of the finst three weeks of work s1 has been spent, and five miles of road have been completed. What is the planned value of the project as this point in time a. $160,000 160,000 $200,000 $150,000 $600,000 None of the above e.

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