Under which type of contract does the seller receive reimbursement for all allowable costs for performing contract work, as well as a fixed-fee payment calculated as a percentage of the initial estimated project costs?
Correct Answer: B
Question 307
Which tool or technique is used in the Estimate Costs process?
Correct Answer: C
Explanation/Reference: Explanation: 7.2.2.9 Vendor Bid Analysis Cost estimating methods may include analysis of what the project should cost, based on the responsive bids from qualified vendors. When projects are awarded to a vendor under competitive processes, additional cost estimating work may be required of the project team to examine the price of individual deliverables and to derive a cost that supports the final total project cost. Process: 7.2 Estimate Costs Definition: The process of developing an approximation of the monetary resources needed to complete project activities. Key Benefit: The key benefit of this process is that it determines the amount of cost required to complete project work. Inputs 1. Cost management plan 2. Human resource management plan 3. Scope baseline 4. Project schedule 5. Risk register 6. Enterprise environmental factors 7. Organizational process assets Tools & Techniques 1. Expert judgment 2. Analogous estimating 3. Parametric estimating 4. Bottom-up estimating 5. Three-point estimating 6. Reserve analysis 7. Cost of quality 8. Project management software 9. Vendor bid analysis 10.Group decision-making techniques Outputs 1. Activity cost estimates 2. Basis of estimates 3. Project documents updates
Question 308
An input to the Perform Integrated Change Control process is:
Correct Answer: C
Question 309
Which Define Activities output extends the description of the activity by identifying the multiple components associated with each activity?
Correct Answer: C
Section: Volume A Explanation Explanation: 6.2.3.2 Activity Attributes Activities, distinct from milestones, have durations, during which the work of that activity is performed, and may have resources and costs associated with that work. Activity attributes extend the description of the activity by identifying the multiple components associated with each activity. The components for each activity evolve over time. During the initial stages of the project, they include the activity identifier (ID), WBS ID, and activity label or name, and when completed, may include activity codes, activity description, predecessor activities, successor activities, logical relationships, leads and lags (Section 6.3.2.3), resource requirements, imposed dates, constraints, and assumptions. Activity attributes can be used to identify the person responsible for executing the work, geographic area, or place where the work has to be performed, the project calendar the activity is assigned to, and activity type such as level of effort (often abbreviated as LOE), discrete effort, and apportioned effort. Activity attributes are used for schedule development and for selecting, ordering, and sorting the planned schedule activities in various ways within reports. The number of attributes varies by application area. Process: 6.2 Define Activities Definition: The process of identifying and documenting the specific actions to be performed to produce the project deliverables. Key Benefit: The key benefit of this process is to break down work packages into activities that provide a basis for estimating, scheduling, executing, monitoring, and controlling the project work. Inputs 1. Schedule management plan 2. Scope baseline 3. Enterprise environmental factors 4. Organizational process assets Tools & Techniques 1. Decomposition 2. Rolling wave planning 3. Expert judgment Outputs 1. Activity list 2. Activity attributes 3. Milestone list
Question 310
Which components of the project management plan are inputs used when creating the stakeholder engagement plan?
