Question 53 The difference between the cost baseline and the cost budget can bes

Question

Question 53 The difference between the cost baseline and the cost budget can best be desecribed as? a. The management reserve b. The project cost estimate c. The contingency reserve d. The control account Question 54 Which of the following is not generally thought of as a typical characteristc of troubled programs, but can greatly contribute to rising costs? a. Programs with complex technology b. High levels of rework c. Insufficient scope d. Poor Communication Question 55 Based on the Siemens Case what are the positives to building a global R & D Network? a. Global expansion opportunities b. Integrated teams c. Decentralized decision making d. Elimination of legal, economic and political risk Question 56 Megaprojects can provide benefits to society by: a. Building sustainable infrastructure b. Reducing environmental hazards c. Training and educating project participants on new technology and construction techniques d. All of the above

Explanation / Answer

Answer -- 53-- Management Reserve is an amount of contract budget set aside for management control purposes (known unknowns either fixed or unfixed) rather than designated for the accomplishment of one or more tasks. It is not part of the performance measurement baseline (PMB), but it is a part of total contract budget.

Cost Baseline budget is an authorized step by step expenditure plan for the project on which the project cost performance is to be measured against.

Formula is -  Cost Baseline = Project Cost Estimates + Contingency Reserves

Cost Budget -- It the estimate of total amount of money required for carrying out the Project, including money set aside for identified and unidentified risks (i.e. unknown unknowns).

Formula is - Cost Budget = Project Cost Estimates + Contingency Reserves + Management Reserves

Ans 54 -- Insufficient Scope

Ans 55 -- A& B options are correct R&D gives the company to develop inter - generated technologically and self-reliance, as a result, it helps the company to compete globally. It involves the interconnection of the teams which are working on the research, it takes time and dedicated work. the Positives of integrated R&D are as Follows

Pull Research talents from all over the world

–         Have regional specialization in their research expertise

–         Can increase the breadth of research scope by having more resources and knowledge.

Answer 56 -- All the options are correct when a megaproject is launched all the three options are the baseline of the project it involves to serve the public/ obejct at a large and the so that the better utilization is gained from the project. It involves a lot of capital and technology for a megaproject to be accomplished and to have a sustainable Eco balance, in the long run, a sustainable model is chosen.

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