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QUESTION NO: 1
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
The following question requires your selection of CCC/CCE Scenario 26 (2.5.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.
Why is a +/- notation necessary when developing an estimate?
A. Contingency cushion
B. It makes up for the lack of time to develop a real estimate
C. It is a government requirement
D. There are unknowns that affect the final cost of a project
Answer: D
QUESTION NO: 2
Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities)
A. ACWP/BCWS
B. BCWS/BCWP
C. ACWP/BCWP
D. BCWP/ACWP
Answer: D
QUESTION NO: 3
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
The following is NOT an advantage of the critical path method:
A. The ability to determine cost overruns of critical path activities
B. The ability to identify activities that cannot have their schedules slip if the desired project end date is to be achieved
C. Reveals activities that additional resources need to be dedicated toward
D. The ability to show slippage in the progress of key activities
Answer: A
QUESTION NO: 4
A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.
When analyzing a precedence diagram schedule, the "backward pass"
A. Allows total float to be calculated
B. Determines the duration of each activity
C. Calculates the earliest allowable start and finish times for the activities in the schedule
D. Allows activities to finish as soon as all their 'predecessor' relationships are satisfied
Answer: C
QUESTION NO: 5
_____________is defined as the budget for the cost (work) account times the percent complete for that account.
A. Percent complete
B. Forecast
C. Cost to complete
D. Earned value
Answer: D
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Updated: May 28, 2022