Dpm Spring 2016 Midterm
15 Questions
| Attempts: 160
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.What are typical triggers for change? (Select all that apply)
- A.
Suspension of Work
- B.
Extra Scope
- C.
Eliminated Scope
- D.
Differing Site Condition
- 4.It is important to understand the client's procedures for addressing change?
- A.
True
- B.
False
- 5.Margin Erosion only occurs when the final margin is negative.
- A.
True
- B.
False
- 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.Non-billable costs do not affect project margin
- A.
True
- B.
False
- 9.Physical % Complete should be updated monthly, at a minimum.
- A.
True
- B.
False
- 10.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
- 11.Earned Value should be based on schedule
- A.
True
- B.
False
- 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.Cost to Completion is simply the contract value minus the cost already spent
- A.
True
- B.
False
- 14.The Management Reserve is to be spent at the PM's discretion.
- 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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