GE 5103 Week 8 Quiz – Questions and Correct Answers | Latest Updated 2026/2027 | Graded A+

GE 5103 Week 8 Quiz – Questions and Correct Answers | Latest Updated 2026/2027 | Graded A+ You are halfway through the project and have been given a new set of formulae to determine the financial health of your project. Where would these formulae be documented? Cost management plan The formula register c Cost baseline Cost estimate Earlier on this project, your team lead expressed concerns that a vendor may delay shipment of some vital raw materials for the project due to factors beyond their control. If these raw materials are not delivered on time, the entire project would come to a halt until they could be delivered. You have come to a critical point on the project, and the vendor informs you that they indeed need to delay this shipment due to these exceptional circumstances. You decide to order these raw materials from a different vendor who is going to charge a lot more. Where would you get the additional funding for the more expensive raw materials? Management reserves because this is a known risk Contingency reserves because this is due to factors beyond the vendor's control c Contingency reserves because this is a known risk Management reserves because this is due to factors beyond the vendor's control You are As project manager, you are working on finalizing the costs for all the work packages, activities, control accounts, and contingency reserves. Which document do you produce as a result of this effort? Cost aggregation Cost baseline c O WBS Project budget You are in a meeting with team members to discuss the costs of activities. Your team will be painting 250 rooms for a large hotel chain. An experienced team member states that, based on historical experience, each room should take about three hours to complete, and from this number, you can figure out how long the whole project should take and how much it should cost. What is the best estimating tool to use in this case? Parametric estimating Analogous estimating c C) Bottom-up estimating D Planning poker Which of the following are included in the cost baseline? (Choose three.) Resource management plan B o Project budget c Activity cost estimate D co Management reserves Contingency reserves Work package cost estimate estimating the cost of an activity on your project, and you come across some documentation from a prior project that would be very helpful. This activity is almost identical to the activity performed on that prior project, so you can use those figures as a direct comparison, especially in terms of scope, risks, and project team requirements. Which of the following tools provides the most accurate cost estimates?