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NEW QUESTION: 1
Which of the following is described in the statement below?
"It is an approved time-phased budget that monitors and measures cost performance throughout the project life cycle."
A. Cost budgeting
B. Cost estimation
C. Cost baseline
D. Scope baseline
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Answer option D is correct.
Cost baseline is an approved time-phased budget that monitors and measures cost performance throughout the project life cycle. It includes a budget contingency to accommodate the risk of incurring unidentifiable but normally occurring costs within the defined scope. Cost baseline varies from project to project, depending on the project's budget and schedule.
Answer option A is incorrect. The scope baseline is an element of the project management plan. The contents of the scope baseline include the following:
Project scope statement: It includes the product scope description and the project deliverables, and

defines the product user acceptance criteria.
WBS: It defines each deliverable and the decomposition of the deliverables into work packages.

WBS dictionary: It contains the detailed description of work and technical documentation for each WBS

element.
Answer option B is incorrect. The cost estimation process is used for building an estimate of the monetary resources required to complete project activities. It helps to estimate the costs of a product or project. It defines or compares various techniques for performing cost estimates such as parametric modeling, analogy estimating, and expert judgment.
There are many reasons for failures in estimating costs correctly. Many late or over-budget projects deemed failures are actually only estimating failures. Bad estimates are, among others, due to the either incomplete or changing requirements, or a lack of familiarity of team members with project tasks.
The first implication is that requirements must be clearly established. Estimating from incomplete requirements increases the risk of scope creep or delivery of an ill-fitting product (or service) needing major rework. One of the goals of the work breakdown structure is to describe tasks at a level of detail sufficient to facilitate the estimating process. Estimates may need to be revised throughout the project.
Only with confidence in the relative accuracy of an estimate is time and cost tracking a valuable exercise.
Answer option C is incorrect. Cost budgeting is the financial planning done for every major expense category, such as administrative cost, financing cost, production cost, etc.
Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth edition" Chapter: Time and Cost Management Objective: Cost Baselining

NEW QUESTION: 2
Match each HPE solution to its corresponding technology usage.

Answer:
Explanation:

NEW QUESTION: 3
Which of the following WS-Security token profiles is not supported in Metro?
A. SAML Token Profile
B. X509 Token Profile
C. SOAP with Attachments (SWA) profile
D. Kerberos Token Profile
E. Right Expression Language (REL) Token Profile
Answer: E