NPTEL Project Management for Managers Week 11 Assignment Answers 2024
1. What is the full form of ITTO in terms of project cost management?
- Inputs Tools and Technique and Output
- Inputs Technique Tool and Output
- Improvise Tools and Techniques and Output
- Improve Tool and Technology and Output
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2. What are the main five resources in project management?
- Man, Machine, Money, Material, and Method
- Man, Machine Learning, Money, Material and Method
- Man, Machine, Time, Material, and Method
- Cost, Time, Machine, Material and Method
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3. What is parametric estimating?
- It uses empirical relationships between historical data
- It uses statistical relationships between historical data and other variables
- It is used in estimating the cost of individual work packages
- It isn’t used to calculate a cost estimate for a scheduled activity
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4. What is a Management Reserve?
- The cumulative of funding and cost baseline
- The difference between the minimum funding and the end of the cost baseline
- The difference between the maximum funding and the end of the cost baseline
- The difference between the maximum funding and the starting of the cost baseline
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5. Which one of the following is wrong with respect to cost control?
- Influencing the factor that creates changes to the cost baseline
- Ensuring requested changes are disagreed upon
- Managing the actual changes when and as they occur
- Assuring that potential cost overruns do not exceed the authorized funding periodically and in total for the project.
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6. The full form of EVT is?
- Earned value technology
- Earned vehicle technology
- Electronic valued technique
- Earned value technique
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7. How is earned value different from planned value?
- The budget amount for the work is actually completed.
- The budget amount for the work is 50% completed.
- The budget amount for the work is scheduled to be completed
- The budget amount for work is not defined.
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8. The formula for cost variance is __
- CV = EV + AC
- CV = EV / AC
- CV = EV – AC
- CV = EV * AC
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9. When the value of CPI is more than 1 it is known as ________________
- Cost overruns
- Cost underruns
- No cost
- Stagnant cost
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10. Select the correct option for recurring and fixed costs, respectively.
- Labor is a recurring cost, while the metal-cutting operation is an example of a fixed cost.
- Labor cost is a non-recurring cost, and metal cutting is a variable cost.
- Labor cost is a recurring cost, and metal cutting is a variable cost.
- Overhead cost is non-recurring, and logistics cost is variable.
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