Question 1:
Which process involves developing an approximation of the monetary resources needed to complete project activities?
Explanation: The process that involves developing an approximation of the monetary resources needed to complete project activities is "Estimate Costs."
Question 2:
What is the main output of the Cost Management Plan process?
Explanation: The main output of the Cost Management Plan process is the "Cost Management Plan."
Question 3:
Which cost estimating technique uses historical data and expert judgment to estimate project costs?
Explanation: The cost estimating technique that uses historical data and expert judgment to estimate project costs is "Analogous Estimating."
Question 4:
What does the Cost Performance Index (CPI) measure in cost management?
Explanation: The Cost Performance Index (CPI) measures the "efficiency of budgeted resources" by comparing the value of work performed to the actual costs.
Question 5:
What is the purpose of the Control Costs process?
Explanation: The purpose of the Control Costs process is to "monitor and control project expenditures."
