PMP Certification Prep Flashcards

What is the project budget shown over time (displayed on a graph such as an S-curve)?

COST PERFORMANCE BASELINE
What does the following statement describe? Adjustments made to project expenditures to account for funding limits (e.g. quarterly budgets.)

FUNDING LIMIT RECONCILIATION
What does the following statement describe? Authorized, time-phased, total project Budget used to measure, monitor and control cost performance of the project; appears as an S-curve on a graph.

COST BASELINE
What does the following statement describe? Measuring the difference between planned and actual. (used for both cost and durations)

VARIANCE ANALYSIS
What does the following statement describe? An objective mathematical approach to measure the cost and schedule performance

EARNED VALUE MANAGEMENT (EVM)
What does the following statement describe? Amounts set aside by PM to cover known risks (included in the Cost Baseline)

CONTINGENCY RESERVES
What does the following statement describe? Amounts management sets aside to cover unknown risks (not included in Cost Baseline)

MANAGEMENT RESERVES
What does the following statement describe? Present value of the future income stream, offset against initial investment amount

NET PRESENT VALUE (NPV)
What does the following statement describe? Compares financial yield to the cost of doing the project

BENEFIT COST RATIO
What does the following statement describe? The amount of time needed to recoup the projects investment

PAYBACK PERIOD

Author

alvincolon

246001

Card Set

PMP Certification Prep Flashcards

Description

COST MANAGEMENT

Updated

2013-11-11T20:14:46Z

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