Old cow teacher daily puzzles series. Welcome on board.

A topic

1. Three weeks after a new feature was approved for a software development project, a team member learned that the development of the new feature had gone over budget. What should the project manager do next? A: Accept budget overruns because the feature has been approved B: stop developing new features C: submit change requests D: update the cost base

2. The project manager is developing a high-level cost estimate for inclusion in the project charter. Since the project manager has done similar projects before, which cost estimation technique should be used? A: Parameter estimation B: analog estimation C: expert judgment D: bottom-up estimation

3. A project to build a new product involves a design that uses some of the features of two existing products, but the new product needs to be larger and cheaper than its predecessor. The project manager reviews the documentation of the two existing products and discusses the impact on the final cost with the Engineering director. What techniques will the project manager use to estimate costs? A: Modeling and cost forecasting B: Analog estimation and parameter estimation C: expert judgment and cost summary D: Bottom-up estimation and technical analysis of plan review

4. During the project execution phase, the project manager found that the completion estimate (EAC) was higher than the completion budget (BAC). After verifying the accuracy of the calculation, what should the project manager do? A: Prepare bottom-up EAC values for project stakeholders B: Request project sponsor approval of completion Deviation (VAC) forecasts C: Request project sponsor approval of cost Performance index (CPI) according to EAC and BAC D: Take action based on TCPI assessment

5. Before closing the project, the project manager conducted earned value analysis (EVA). The analysis showed that the schedule performance index (SPI) was 0.7 and the cost performance index (CPI) was 1.0. A: the project is behind schedule, within budget, but before the completion of all deliverables cancelled B: the project is in line with the schedule, over budget, but before the completion of all deliverables has been cancelled C: all deliverables are completed, the project has been completed ahead of schedule, and in line with the budget range D: All deliverables have been completed and the project is on schedule but over budget

The second analysis

1 C

Find cost performance deviation and submit change request to take corrective action. AB is the possible option in the change request, and D is after approval. They want to know the next step.

2 B

Analysis: Analog estimation is an estimation technique that estimates similar parameters or indicators of future activities based on the parameter values (such as scope, cost, budget, duration, etc.) of similar activities in the past or scale indicators (such as size, weight, complexity, etc.).

3 B

A comparison of two existing products is made by using parameters or attributes from similar projects in the past. Project parameter values and attributes include (but are not limited to) scope, cost, budget, duration, and scale indicators (such as size, weight). Analog estimation is based on these project parameter values or attributes to estimate similar parameters or indicators of the current project.

4 D

The project manager has verified the accuracy of EAC. A is doubted. It is checked again, which is inconsistent with the question. BC is all performance information, which is calculated from the analysis of performance data and does not need to be approved by the sponsor. Choice D: Evaluate TCPI for project completion and take follow-up actions.

5 A

The cost is just right. A. on schedule B. ahead of schedule C. on schedule D. ahead of schedule

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