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Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities)
Cost performance index (CPI) is defined by AACE International as: (assume no change in budgeted quantities)A . ACWP/BCWSB . BCWS/BCWPC . ACWP/BCWPD . BCWP/ACWPView AnswerAnswer: D Explanation: The Cost Performance Index (CPI) is a crucial metric in project management, particularly within the realm of cost control. According to the Association...
What is a basic element of work or a task that must be performed over a given period of time in order to complete a project called?
What is a basic element of work or a task that must be performed over a given period of time in order to complete a project called?A . WBS elementB . ActivityC . ResourceD . CommodityView AnswerAnswer: B Explanation: An activity is a fundamental unit of work that must be...
Any combination of unique letters, numbers, or blanks, which describes and identifies any activity or task shown on the schedule, is:
Any combination of unique letters, numbers, or blanks, which describes and identifies any activity or task shown on the schedule, is: A. Activity ID B. WBS Code C. Resource D. Account numberView AnswerAnswer: A Explanation: An Activity ID is a unique combination of letters, numbers, or blanks that describes and...
What class of estimate is used for the preliminary design phase of a project?
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...
What is the current schedule performance index (SPI)?
The following question requires your selection of CCC/CCE Scenario 2 (2.3.50.1.2) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. 9,375 hours have been expended to date. Planned completion at this time is 75%. The project is determined to...
A systematic coding structure for organizing and managing scope, assets, cost, resources, work and schedule activity information is a______________.
A systematic coding structure for organizing and managing scope, assets, cost, resources, work and schedule activity information is a______________.A . Cost breakdown structureB . Code of accountsC . Cost estimate classificationD . Schedule identification numberView AnswerAnswer: B Explanation: A Code of Accounts is a systematic coding structure used to organize...
What is the range of unit costs?
The following question requires your selection of CCC/CCE Scenario 6 (2.7.50.1.3) from the right side of your split screen., using the drop down menu, to reference during your response/choice of responses. What is the range of unit costs?A . $21.57B . $26.65C . $48.22D . $485.00View AnswerAnswer: D Explanation: Without...
An effort by a prime contractor to reduce the price quoted by a vendor, by providing the bid price to other vendors in an attempt to get the other vendors to underbid the original price quoted is referred to as:
An effort by a prime contractor to reduce the price quoted by a vendor, by providing the bid price to other vendors in an attempt to get the other vendors to underbid the original price quoted is referred to as:A . CostingB . Cost-price analysisC . Bid shoppingD . Negotiating...
If steel costs $1800/ton at the end of Year 3, what is the price of steel at the end of Year 4?
The following question requires your selection of CCC/CCE Scenario 4 (2.7.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. If steel costs $1800/ton at the end of Year 3, what is the price of steel at the end...
____________is defined as the earned work hours or dollars for all accounts divided by the budgeted work hours or dollars for all accounts.
____________is defined as the earned work hours or dollars for all accounts divided by the budgeted work hours or dollars for all accounts. A. Percent complete B. Cost to complete C. Earned value D. ForecastView AnswerAnswer: A Explanation: Percent complete is a measure used in project management to quantify the...
