PMI CA0-001 - Certified Associate in Project Management (CAPM) Certification

This is an example of an assumption because estimates provided will be accurate if the rooms meet the requirements like (wooden coated). A and C are incorrect because the scenario did not describe a risk or constraint.

Payment system is not a tool or technique for Source Selection. Other options are .

Cost management plan describes how cost variances will be managed.

Although lessons learned should be held at project conclusion, they should be held throughout the project any time.

It is both bad and unprofessional to knowingly offer an estimate that is incorrect

Three common types of cost-reimbursable contracts are CPF, CPFF, and CPIF Cost-Plus-Fee (CPF), Cost-Plus-Fixed-Fee (CPFF) and Cost-Plus-Incentive-Fee (CPIF).

Stakeholder influence is greatest at the beginning of the project

Cost plus incentive fee is always the lowest risk for the buyer if the scope of work is not well defined. Fixed price and purchase order are the best choice for buyer when the item is well defined.

Verify Scope is the process of formally accepting the deliverable of a project or phase. A is incorrect because EVM measures project performance. C is incorrect because quality control is concerned with the correctness of the work, not the acceptance of the work. QA is incorrect because this described the quality program for the organization as a whole.

The difference between the Cost Baseline and Funding requirement at Project completion is Management Contingency Reserve. Management Contingency Reserve is not part of project cost baseline.

Analogous Estimate Costs is Generally less accurate . Analogous Estimate Costs Uses Expert Judgment . It is used when reference projects are similar . It is useful in early phases of the project.

Project Charter is NOT input of Identify Risks.

Earned value analysis is used during the execution of the project to determine resource consumption versus planned