Dpm Spring 2016 Midterm

15 Questions | Total Attempts: 149

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Budget Quizzes & Trivia

Questions and Answers
  • 1. 
    Which type of change is recognized by owner as a contract change?
    • A. 

      Constructive

    • B. 

      Directed

  • 2. 
    What comprises a Revenue Budget?
    • A. 

      Cost Budget + Margin

    • B. 

      Non-Billable Budget

    • C. 

      Management Reserve

    • D. 

      Cost Budget + Non-billable Budget + Management Reserve

  • 3. 
    It is important to understand the client's procedures for addressing change?
    • A. 

      True

    • B. 

      False

  • 4. 
    Margin Erosion only occurs when the final margin is negative.
    • A. 

      True

    • B. 

      False

  • 5. 
    What are typical triggers for change? (Select all that apply)
    • A. 

      Suspension of Work

    • B. 

      Extra Scope

    • C. 

      Eliminated Scope

    • D. 

      Differing Site Condition

  • 6. 
    Multiple compensation types can exist within the same project.
    • A. 

      True

    • B. 

      False

  • 7. 
    How many WBS Levels does Data Query allow?
    • A. 

      10

    • B. 

      4

    • C. 

      8

    • D. 

      2

  • 8. 
    The Management Reserve is to be spent at the PM's discretion.
    • A. 

      True

    • B. 

      False

  • 9. 
    Non-billable costs do not affect project margin
    • A. 

      True

    • B. 

      False

  • 10. 
    Physical % Complete should be updated monthly, at a minimum.
    • A. 

      True

    • B. 

      False

  • 11. 
    Earned Value is calculated as:
    • A. 

      Physical % Complete * Cost Budget

    • B. 

      Revenue at Completion - Cost at Completion

    • C. 

      Collected - Net Cost

    • D. 

      Revenue accumulated in PBIS since the beginning of the project

  • 12. 
    Who can authorize project work to continue in advance of an executed contract modification?
    • A. 

      Principal-In-Charge

    • B. 

      Project Manager

    • C. 

      Legal Department

    • D. 

      Area Manager

    • E. 

      A, C, and D above

  • 13. 
    Earned Value should be based on schedule
    • A. 

      True

    • B. 

      False

  • 14. 
    Cost to Completion is simply the contract value minus the cost already spent
    • A. 

      True

    • B. 

      False

  • 15. 
    For a fixed price contract, PB invoices the client for the number of hours it actually expended to complete the work. 
    • A. 

      True

    • B. 

      False

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