All,
The following PMP® exam sample question is taken from
http://www.free-pm-exam-questions.com - The answer is at the very bottom:
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PMBOK Section: Estimate Costs
Process Group: Planning Process Group
Question Type: Calculation
Knowledge Area: Cost Management
Difficulty Level: Easy
*Question*: You are managing an amusement park development project. You have
received the following estimates for site excavation and area development
activity that is critical to the success of your project. The most likely
estimate is $100,000, the optimistic estimate is $90,000, and the
pessimistic estimate is $120,000. What is the expected activity cost?
A. $101666
B. $100000
C. $120000
D. $90000
Hint: Use the PERT formula.
Reference: PMBOK4 - pg:173
**
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Until next time,
Cornelius Fichtner, PMP
*Explanation*: PMBOK recommends the use of PERT in estimating durations
and costs. The PERT estimation formula is (Optimistic + 4xMost Likely +
Pessimistic) / 6. For the given data, this results in 101,666.66. Hence
choice A is the correct answer to the question.
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