PMP Exam Simulator

Duration

Questions

Accelerate Mock ExamDisplay correct answer

PMP exam lasts 230min and has 180 questions

Use acceleration to have extra 30m in reserve on exam

Cost Management

You have been assigned to a project to develop security application for a fish farm. The leadership team has schedule as the highest-priority constraint, while the owners of the farm are more concerned about the quality and cost of the application. As the best way to balance these competing priorities and deliver a working application, adaptive approach to the project life cycle was used. However, there are concerns from the stakeholders about what the impact will be to the bottom line and whether the system will be ready for launch. These questions were anticipated in planning and they will be managed with cost performance measurement. Cost performance measurement is done through:

Using the 50/50 rule and making sure the life cycle cost is less than the project cost.

Requesting a percent complete from each member and reporting it in the monthly progress report.

Calculating earned value and using indexes in addition to other calculations to report past performance and estimate future performance.

Focusing on the amount spent last month and what will be spent the following month.